Quick takes

MCH shareholders approve Murdoch investment

The MCH Group has reached a settlement with one of its major shareholders, Erhard Lee, who objected to MCH’s tentative agreement to accept an investment from James Murdoch’s Lupa Systems. Now that the deal has been confirmed, Lupa will eventually own between 30% and 44% depending on the participation of existing shareholders.

Cathay Pacific makes moves to survive pandemic

Nearly all of Cathay Dragon’s 5,900 staff lost their jobs this week as part of Cathay’s restructuring in its attempt to survive the pandemic. Such developments are worth monitoring because the state of the airline industry (as well as hotels) will have a direct impact on recovery of business events in Asia.

Japan to allow some business visitors entry without quarantine

Beginning in November, Japan is planning to allow short-term business visitors from some 30 countries to entry the country without undergoing a quarantine period. Visitors will need to submit a negative COVID-19 test result, provide their itinerary and avoid using public transport.

Ant Group’s IPO sends clear message

The Ant Group’s IPO will raise US$34.5 billion making it the largest IPO in history. The dual listing will raise an equal amount in Shanghai and Hong Kong. Jack Ma, who owns one third of the business, seems to be sending a clear message about his view of Shanghai’s future as a global financial centre. It is also somewhat of a vote of confidence in the outlook of Hong Kong.