Buyout deals involving S'pore firms hit $66 billion

29% surge in first 9 months of 2024 affirms country's status as S-E Asian hub for M&As

- Angela Tan

Buyout deals involving Singapore companies have surged in 2024, confirming the country's status as a hub for mergers and acquisitions (M&As) in South-east Asia.

M&A turnover hit US$51 billion (S$66 billion) in the first nine months of 2024, up 29 per cent from the same period in 2023, noted the London Stock Exchange Group (LSEG).

The numbers account for buyouts that have been announced and pending, as well as completed ones.

Ms Elaine Tan, senior manager at LSEG Deals Intelligence, told The Straits Times: "Singapore as a global hub remains interesting for companies diversifying their supply chain and increasing exposure to South-east Asia."

She added that more transactions are on the cards, with continued interest in the financial, real estate and healthcare sectors here, saying: "We are cautiously optimistic about the outlook looking at the key drivers. Lower interest rates would encourage companies and investors as borrowing costs come down."

The optimism is reflected in a recent EY survey that found that 98 per cent of Singapore and global chief executives plan some form of transaction over the next year.