Finance: Asia Pacific

Developments in transport finance, PPP, debt, equity, M&A deals from Asia Pacific

• Cao Cao raises USD589 million funding, China [free access]

  September 10, 2021
  Geely’s ride-hailing platform Cao Cao has raised CNY3.8 billion (USD589 million) in funding to upgrade its technology and expand its fleet.

• MLIT announces KRW1.7 trillion budget for expansion of metropolitan transportation infrastructure, South Korea

  September 9, 2021
  South Korea’s Ministry of Land, Infrastructure and Transport (MLIT) has announced a budget of KRW1.7 trillion for the expansion of metropolitan transportation infrastructure.

• THSRC to issue green bonds, Taiwan

  September 1, 2021
  Taiwan High Speed Rail Corporation (THSRC) has announced plans to raise USD35.95 million (TWD1 billion) through the issue of green bonds.

• L&T to divest from Hyderabad Metro; GMR to fund project expansion, India [free access]

  September 1, 2021
  India-based L&T has announced plans to divest its stake in Hyderabad Metro, the world’s largest metro project to be executed on the public-private partnership (PPP) mode.

• KKR to acquire Ritchies Transport, New Zealand

  August 26, 2021
  US-based global investment firm KKR has entered into definitive agreements to acquire Ritchies Transport, a New Zealand-based transport operator.

• ADB signs agreement for Bangalore Metro expansion projects, India [free access]

  August 20, 2021
  The Asian Development Bank (ADB) has signed an agreement with the Government of India to provide a USD500 million loan to expand the metro network in Bangalore. ADB had approved the loan in November 2020.

• ComfortDelGro subsidiary to launch IPO, Australia

  August 17, 2021
  ComfortDelGro Corporation Australia Pty Ltd (CDC), a subsidiary of ComfortDelGro, has announced plans to pursue an initial public offering (IPO) on the Australian Securities Exchange.

• Government of Tamil Nadu allocates funds for public transport in budget FY2021–22, India [free access]

  August 13, 2021
  The state government of Tamil Nadu, in its revised budget for FY2021–22, has allocated INR6.23 billion under the KfW assistance programme for the procurement of 1,000 new buses.

• MRT Corp. to use PFI to finance Urban HSR (MRT) Line 3, Malaysia

  July 29, 2021
  MRT Corp. has announced plans to use private finance initiatives (PFIs) to finance the development of the Urban High-Speed ​​Rail (HSR) MRT Line 3.

• TrueGreen secures additional funding for its transport and technology group Nexport

  July 28, 2021
  TrueGreen Impact Group (TrueGreen), an active impact investor, has secured USD110 million in new funding for its transport and technology group, Nexport Mobility (Nexport).

• ComfortDelGro to acquire Youngs Bus Service, Australia

  July 21, 2021
  CDC South East Queensland Pty Ltd, a wholly owned subsidiary of ComfortDelGro Corporation Australia Pty Ltd, has entered into an agreement to acquire Youngs Bus Service, a bus operator in Queensland.

• Sydney Light Rail long-term green loan refinanced, Australia

  July 2, 2021
  John Laing Group plc (John Laing) has refinanced the Sydney Light Rail project.

• Government of NSW allocates funds for transport in Budget 2021–22, Australia

  June 22, 2021
  The state government of New South Wales (NSW) has allocated AUD18.70 billion for the transport sector (including rail and road projects) in its budget for FY2021–22.

• Government of HCMC announces investments in transport infrastructure, Vietnam

  June 20, 2021
  The Government of Ho Chi Minh City (HCMC) has announced investments worth USD42.30 billion (VND970.60 trillion) to upgrade the city’s transport infrastructure in this decade.

• Government of Queensland announces investments in transport infrastructure, Australia [free access]

  June 16, 2021
  The state government of Queensland has announced plans to invest AUD27.50 billion in transport infrastructure between FY2021–22 and FY2024–25.

• MooVita raises Series A funding

  June 8, 2021
  MooVita, a Singapore-based driverless software solutions provider, has raised Series A funding from Malaysia-based Yinson Holdings Berhad and Singapore-based SMRT Ventures.

• Government of Kerala allocates funds for buses in budget FY2021–22, India

  June 5, 2021
  The state government of Kerala, in its revised budget for FY2021–22, has allocated INR1.10 billion for the expansion of the state’s bus fleet.

• Shenzhen Metro Group to issue bonds, China

  May 28, 2021
  Shenzhen Metro Group has announced plans to raise CNY4 billion by issuing bonds.

• State government of Victoria allocates funds for transport in Budget 2021–22, Australia

  May 20, 2021
  The state government of Victoria has allocated over AUD6.45 billion for rail and road infrastructure projects in its budget for FY2021–22.

• Government of New Zealand allocates funds for transport sector in Budget 2021–22 [free access]

  May 20, 2021
  The Government of New Zealand, in its budget for FY2021–22, has allocated NZD1.30 billion for rail projects.