Last year was obviously a very big year for MA in Singapore, and you were at the heart of all the transactions. Do you think this year is going to be as active as last
I don't believe so. If you look at the activity last year, it was centred on bank consolidation in Singapore and I don't think a second round of consolidation is going to happen this year. Secondly, a lot of the MA last year was centred on foreign buyers acquiring our contract manufacturing companies. So a lot of these have already been sold.
Are there particular sectors you think may still be active
Banks will have to look at...
