Transaction Trail Annual Report 2020 Valuation

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Transaction Trail Annual Report 2020

We are pleased to launch the ninth edition of our flagship report, Duff & Phelps Transaction Trail 2020. This year's report covers mergers and acquisitions (M&A), private equity/venture capital (PE/VC) investments and initial public offerings (IPOs) in Singapore, Malaysia and Indonesia (the “Region”) for 2020.

 The report also provides a perspective on global transactions and a special feature on the technology transaction landscape in the Region. This year was extraordinary and while past crises have affected specific industries, sectors or regions, the COVID-19 pandemic has had a wide-ranging impact across industries around the world.

 Key Highlights

  • Global M&A activity declined in 2020 to a value of US$2.7 trillion, with over 39,000 transactions, compared to US$3.6 trillion and over 46,000 transactions in 2019 (source: Bloomberg), against the backdrop of the pandemic and other geopolitical uncertainties.
  • During 2020, the Region witnessed a substantial US$84 billion of transaction value from over 1,000 deals covering M&A, PE/VC investments and IPOs.
  • Singapore continues to be in the forefront driving M&A, PE/VC and IPO deals in the Region, contributing over US$65 billion in value. Approximately two-thirds of the M&A value in Singapore has come from outbound acquisitions, followed by domestic M&A at 22%.
  • Malaysia deal activity in 2020 has continued to decline with total deals in M&A, PE/VC and IPO valued at US$5.9 billion, a reduction from 2019 (total deal value of US$10.7 billion) and from the record levels witnessed in 2017 (US$20.3 billion).
  • Indonesia has shown an increase across outbound and domestic M&A transactions as well as PE/VC investments and IPO capital raised, with overall deal values at US$13.5 billion in 2020 compared to US$9.5 billion in 2019.

Going forward, while we expect the impact of the pandemic to last for several more months, businesses have adapted to the new normal of doing transactions. With this view and considering the political changes in the U.S., a possible improvement in the U.S.-China relationship, more political stability, continued increase in technology adoption and increased availability of capital resources to the Region, we continue to expect to see strong transaction activity.

The report has been covered by the following media outlets:

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