Investment destinations

CHINA and Singapore can’t be neglected in terms of investment, reported Fortune magazine, quoting Ray Dalio, founder of hedge fund Bridgewater Associates.

“It’s a part of the world that one can’t neglect and not only because of the opportunities it provides but you lose the excitement if you’re not there,” Dalio was quoted as saying during a Bloomberg Radar event earlier this month. “And so our objective is to be there both economically and investment-wise,” he noted.

Acquisition deal

WANXIANG Group Corp. is in talks to acquire power-tools manufacturer Apex Tool Group from Bain Capital, Bloomberg News quoted sources as saying yesterday.

A potential deal could value the U.S.-based Apex at about US$2 billion to US$2.5 billion, the report said. Talks are still ongoing and other bidders remain interested in the asset, the sources said. Wanxiang’s businesses range from auto parts manufacturing and clean energy to agriculture, according to its website. It owns electric vehicle firm Karma Automotive LLC as well as A123 Systems LLC, a battery maker for electric vehicles. The group counts more than 20,000 employees.

NEV congress

THE 2021 World New Energy Vehicle Congress kicked off yesterday in Haikou, capital of Hainan Province, focusing on the new energy vehicle (NEV) industry under the background of carbon neutrality.

The three-day event will feature several summits, forums, exhibitions and other activities. More than 1,000 government officials, experts and executives of auto manufacturers from home and abroad are expected to share their insights and visions on a variety of topics, such as the NEV industry, related technologies and future-oriented sustainable transportation.