BYD to Acquire 20% Stake in Rever Automotive Thailand

BYD, a Chinese automotive company, has announced its intention to acquire a 20% stake in its local distributor in Thailand, Rever Automotive. This move coincides with the opening of BYD's first factory in Thailand, with a production capacity of 150,000 vehicles per year and 1,000 employees. Rever Automotive currently operates over 100 showrooms in Thailand and began selling BYD vehicles in 2022, rapidly becoming the best-selling electric vehicle brand in the country. BYD aims to strengthen its partnership with Rever Automotive to further promote the adoption of electric vehicles and assist Thailand's transition to a more sustainable future. Thailand, known as a regional auto assembly and export hub, has traditionally been dominated by Japanese automakers. Nevertheless, BYD has already acquired a 46% share of Thailand's electric vehicle market and is currently the third-largest passenger car player. The acquisition comes at a time when Rever Automotive is facing allegations of offering deep discounts that left some customers feeling overcharged.

https://internasional.kontan.co.id/news/byd-akan-akuisisi-20-saham-rever-automotive-thailand

Australia will run out of gas by 2026. What will happen globally?

Australia, a major exporter of liquefied natural gas (LNG), is expected to face a shortage of LNG supply in the next three years, according to a report by the Australian Competition and Consumer Commission (ACCC). The supply shortage is estimated to start in 2027, earlier than previously predicted. The ACCC has warned that if supplies are diverted from the spot market to local consumers, global gas prices will increase. The ACCC has also advised an increase in LNG production to meet rising demand. Australia, renowned for its abundant resources, has encountered challenges in meeting both local energy needs and export markets. Despite losing the top spot to the United States and Qatar in recent years, it remains one of the largest LNG exporters in the world. The ACCC emphasises the necessity for policy and market responses to address the long-term shortage.

https://internasional.kontan.co.id/news/australia-diprediksi-kekurangan-pasokan-gas-tahun-2026-apa-dampaknya-ke-global

Honda shares rushed to market by Japanese financial firms

Japanese financial group Tokio Marine, Sompo and two MS&AD units plan to sell ￥535 billion worth of shares in Honda Motor to eliminate cross-shareholdings. The move is part of efforts to improve corporate governance reforms. In addition to these firms, Mitsubishi UFJ and Mizuho will also sell Honda Motor shares to eliminate cross-shareholdings. In total, 10 financial institutions intend to sell Honda shares. The share sale will involve 300 million shares, including over-allotment, and the price has not yet been determined. Based on Honda's closing price on Thursday, the sale value will be 535 billion yen. MS&AD had previously confirmed its plans to fully divest its stake in Honda.

https://internasional.kontan.co.id/news/perusahaan-keuangan-jepang-ramai-ramai-jual-saham-honda