by Pwc Tax Calendar 2023 Philippines – We are pleased to introduce you to the country’s pioneering business case competition focused on mergers and acquisitions for university students in the Philippines!
Technology has developed rapidly in recent years; affects the business operations of companies. While some adapted early, many others have accelerated their digital transformation and innovation due to the pandemic, as more consumers have gone digital. With the introduction of technological developments such as artificial intelligence, metaverses and cloud technology, several technology startups have emerged and gained more traction. The M&A challenge focuses on being a platform for college students to practice and expand their skills in solving real business challenges as industries’ business models go digital.
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The 7th M&E Challenge is open to college students in their 3rd through senior years who are ready to compete and learn alongside other students across the country as they complete assignments designed to test their business skills and knowledge. It’s an opportunity to build an M&A case, explore a hypothetical transaction, and provide value-added insights into how technology advancements and disruptions impact companies in achieving sustainable business outcomes.
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As The New Equation adapts to a new global strategy that champions a human-led, technology-driven future, ongoing efforts are made to help customers ride the waves of technology to stay competitive. Thus, participants of the 7th M&A Challenge will be tasked with helping a listed Philippine company to strengthen the digitalization of its business, forming a venture capital arm to incubate investments that can help deal with potential disruptions or enhance its current business model. and future. /P. Participants will be tasked with helping the client identify a technology startup whose innovation efforts will greatly benefit the company’s own digital transformation or offering new products or services. They also assess both the client’s risks and opportunities to acquire shares or enter into a joint venture in their chosen target.
Judges will assess each team’s knowledge of various business concepts in accounting, new technologies, finance, taxation, due diligence, regulations, and corporate finance, as well as their interpersonal skills and business acumen (e.g., presentations, public speaking, and critical).
The competition has two rounds – the preliminary which is played virtually and the final round which is played physically.
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Each round requires different technical skills and soft skills to find solutions to problems and challenges that may arise during the procurement process.
Teams have enough time to work on case requirements in each round. In the final round, finalists have the opportunity to present their case and/or recommendations to a panel of renowned professionals.
Winning teams will receive cash prizes and guaranteed internship opportunities at the Philippine Department of Tendering and Corporate Finance in 2023.
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Students and faculty also have the opportunity to participate in a webinar series called “The Dealmaker Seminar Series”, which focuses on public speaking and presentation skills, due diligence, accounting and tax aspects of business combinations, and an introduction to valuation . These are designed to help with concepts that can be applied during competition.
The competition offers business students at national universities and colleges a unique opportunity to gain hands-on experience in a hypothetical business arrangement.
Students gain a better understanding of the mergers and acquisitions process, providing advice on potential value-added transactions to further expand the client’s business, and understanding the risks and opportunities caused by the current economic and business environment, as well as potential disruptions in the company. the next wave of advanced technology.
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Students physically present their final case to seasoned professionals and other business leaders. Winning teams will be awarded cash prizes and guaranteed training spots.
Application period is 19.9.-07.10.2022. Information provided during registration will be confirmed with each university to determine eligibility.
The preliminary round event and other details of the competition will be delivered to registered participants at the end of the registration period. This year, economies have continued to recover from the pandemic as countries have begun to fully reopen schools, businesses and educational institutions without restrictions. . However, the global economy faced new headwinds that disrupted business arrangements in all regions. Merchants faced a range of challenges as geopolitical pressures and global supply chain issues stemming from the war between Russia and Ukraine impacted the costs of doing business. High inflation and interest rates also caused financial concerns for traders as companies reported lower profit margins due to high costs. . These factors added to the continued uncertainty in global markets caused by the pandemic. The new conditions made entrepreneurs adapt and develop new strategies to conquer the market.
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While business declined in major markets such as North America, Europe and China, multinationals sought new market opportunities and redirected their investments to developing regions such as developing countries in Asia Pacific (APAC). One such deal is the acquisition of Baring Private Equity Asia Group Ltd, headquartered in Hong Kong, for Sweden’s EQT Holdings BV. As part of EQT’s current strategic priority to expand in the region, the $7.4 billion deal is one of APAC’s biggest deals in 2022.
Despite the slowdown in the Western M&A market, APAC’s share of deal value increased from 22.7% in 2021 to 25%, or $849.6 billion, in December 2022. Technology-related deals accounted for 21 % of APAC cross-sector mergers and acquisitions as companies. Now they are under pressure to transform their businesses and adapt to rapidly changing consumer preferences, digital disruption and ESG issues. Since then, APAC companies have shifted their focus to domestic mergers and acquisitions to avoid delays in exit operations.
In the APAC region, investor confidence has increased with the gradual lifting of COVID-19 restrictions. Since then, global financial institutions have shifted their interest to Southeast Asia, as multinationals have begun to unwind from China. Such decisions are part of its strategy to deal with the country’s regulatory uncertainties, which include a zero COVID policy that has paralyzed Chinese companies and foreign investment.
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Many investors are interested in the Southeast Asia market as companies move out of China and other APAC countries to reduce labor and manufacturing costs. In the first quarter of 2022, the total value of trade in Southeast Asia was $19.2 billion across 96 trades, up 20% year-on-year. At the end of the third quarter, the total value of the contracts was about 200 billion dollars in almost 300 transactions.
The telecommunications, media and technology sectors were the most active in terms of volume of acquisitions, due to high intercompany demand for data and software services. Merchants in the region continue to look for more efficient and digitized solutions to better utilize data resources and infrastructure, such as telephone towers, for commercial gain. Other active industries are energy, mining and utilities, chemical and industrial industry, and financial services, with a focus on creating renewable energy and industrial metals.
In the region, the largest number of acquisitions took place in Singapore, Malaysia and Indonesia. The first two have been at the forefront of the region’s M&A space for years, as the two most active bidders in other Southeast Asian countries.
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The recent changes caused by the pandemic, high global inflation and rising business costs have caused managers to rethink their strategies going forward. Several multinational companies gave up foreign subsidiaries and redirected their capital to their core businesses to achieve higher margins. One such transaction was the sale of 100% of Citigroup’s consumer businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank Limited, a leading bank in Singapore. The $3.7 billion deal is part of Citigroup’s strategic review to exit consumer banking in 14 markets across Asia, Europe, the Middle East and Mexico. The spin-off also includes the company’s Philippine consumer banking businesses and Citicorp Financial Services & Insurance Brokerage Philippines, Inc., which were acquired by Union Bank of the Philippines for PHP 72 billion, as announced in 2021. net trade of PHP 26 0.7 billion, plus a fee of PHP 45.3 billion. Instead, Singaporean investment firm DBS Group Holdings Limited will buy Citigroup’s consumer banking business in Taiwan for US$3.4 billion.
Several companies shifted focus, but others made acquisitions to complement their existing businesses. In October 2022, San Miguel Equity Investments, Inc., the investment arm of Philippine conglomerate San Miguel Corporation, announced the acquisition of Eagle Cement Corporation, expanding its current cement business. The deal is worth $1.9 billion and is the Philippines’ most valuable deal for 2022.
New markets such as innovative retail, food delivery and logistics services have been formed as consumer and business behavior has changed rapidly in recent years. Since then, companies have been looking for opportunities to enter these markets or establish a presence in emerging sectors such as e-commerce, robotics, biotechnology and other technology-related fields. In particular, the purchase of Indosat Tbk, PT$6.6 billion by Big Data Exchange (BDx) will allow BDx to enter the Indonesian market. Through the joint venture, the company takes advantage of Indonesia’s growing need
