Robyn Mak

Breakingviews - Unsavoury disclosure spoils Chinese food delivery

10 Dec 2018

HONG KONG (Reuters Breakingviews) - Distasteful disclosure practices are spoiling some Chinese food delivery. Meituan Dianping, operator of the country’s biggest food delivery app, fired one employee and referred others to police after an internal corruption probe. It only reported the news in Chinese, and didn't flag it before its initial public offering. Once-reported metrics have also gone missing. Such opacity is unappetising.

Breakingviews - China hangs corruption sword over tech giants

05 Dec 2018

HONG KONG (Reuters Breakingviews) - Beijing is hanging a blade over the country's technology titans. The arrest of a senior Alibaba executive, the head of its video-streaming unit, suggests China's anti-graft crackdown will not spare its web titans. Companies’ poor disclosure, though, is adding to the problem.

Breakingviews - Tencent Music strains to hit Spotify's high notes

04 Dec 2018

HONG KONG (Reuters Breakingviews) - Tencent Music Entertainment will strain to hit Spotify's high notes. China's social media and gaming titan is floating its music-streaming arm at a valuation of up to $24.5 billion. Sales are up, and the unit has a novel, profitable business model. Still, the company's huge premium to Spotify is hard to justify.

Breakingviews - China's gene-edited babies cry out to regulators

29 Nov 2018

HONG KONG (Reuters Breakingviews) - China's genetically-edited embryos are crying out to regulators. Shocking claims by a scientist who says he altered the genes of twin girls born in November have sparked a firestorm. Clearer guidelines are needed.

Breakingviews - Riyadh is clouding Masayoshi Son's $100 bln vision

15 Oct 2018

HONG KONG (Reuters Breakingviews) - Riyadh’s problems are spilling over into tech. Fallout from the disappearance of prominent Saudi journalist Jamal Khashoggi has hit Japan’s SoftBank, whose $100 billion new economy war chest is backed by the Kingdom. Masayoshi Son’s investors are rattled. Certainly, entrepreneurs like Uber’s Dara Khosrowshahi will be wary of accepting fresh Vision Fund investments. New capital will be harder to come by too.

Breakingviews - Hong Kong’s political risk takes new form

09 Oct 2018

HONG KONG (Reuters Breakingviews) - Hong Kong's political risk is taking a new form. The Chinese territory's leader, Carrie Lam, has made a good start tackling the housing crisis and other parts of her domestic agenda. Public sentiment has improved. With mass protests less likely, she may push for a controversial security law next.

Breakingviews - Samsung is closer to maxing out memory limits

05 Oct 2018

HONG KONG (Reuters Breakingviews) - Samsung Electronics is close to maxing out its memory limits. South Korea's $260 billion electronics conglomerate is on track for another quarter of record operating profit. Memory prices will probably peak by year-end, however. Slower earnings growth and the mounting legal woes of Samsung's leaders will test investor patience.

Breakingviews - Chinese pharma R&D mixes up a potent IPO formula

26 Sep 2018

HONG KONG (Reuters Breakingviews) - One of Asia’s largest pharmaceutical research and testing firms is offering Hong Kong investors a profitable spot of therapy. WuXi AppTec, already listed in Shanghai with a market value of $13 billion, carries out clinical trials and a host of other services for heavyweights like Pfizer and Roche. An overhaul of restrictive mainland rules over recent years to encourage locally developed drugs means business is thriving.

Breakingviews - Meituan IPO shows how to tempt investor appetites

20 Sep 2018

HONG KONG (Reuters Breakingviews) - Meituan Dianping's solid debut offers a recipe for its peers. Shares in the Chinese takeaway-to-taxi group rose as much as 7 percent in their Hong Kong debut on Thursday, taking its value to some $56 billion. That's respectable, after handset-maker Xiaomi’s fumbled start in July. Its sober expectations and big-name cornerstone investors helped restore appetites.

Breakingviews - Didi falls way behind Uber on road to IPO

11 Sep 2018

HONG KONG (Reuters Breakingviews) - Didi Chuxing is falling way behind Uber on the road to an initial public offering. Both ride-hailing outfits burn heaps of cash and want to make market debuts soon, but new figures suggest they are traveling in different directions.

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