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Associated Press
08-07-2025
- Business
- Associated Press
APAC Regulatory Complexity Creates 29% Higher Workload for Multinationals
SINGAPORE--(BUSINESS WIRE)--Jul 8, 2025-- Multinational organizations face significantly higher operational demands in Asia-Pacific, with entities requiring 28.7% more management tasks than the global average, according to new data released in the Asia-Pacific Special Report by Mercator ® by Citco (Mercator). The analysis reveals stark contrasts in processing times - from 11 days in digitally advanced Singapore to 64 days in Macau - creating unprecedented challenges for corporate secretarial teams managing multi-jurisdictional portfolios. The findings, representing $USD10.37 billion in market capital, draw from actual operational data across 180 jurisdictions and 20 different types of corporate secretarial activities. Regional Position Activity Level: 5.37 tasks per entity vs global average of 4.18 APAC entities average 5.37 tasks versus the global 4.18, reflecting complex regulatory requirements and varying governance approaches. While regional hubs offer streamlined processes, the overall management burden remains significantly higher, often requiring local expertise. Governance: Highest global volume of board and shareholder decisions APAC leads globally in board-level activity, with triple the board and shareholder tasks compared to European counterparts. This reflects the region's distinct approach where boards serve as active management tools, with many markets requiring local directors and in-country representatives. Cost: 14% above North America, 47% below Middle East & Africa Entity management costs position APAC 14% above North American averages while maintaining a 47% advantage against Middle East & Africa. This reflects APAC's uniquely diverse market composition - from Malaysia's competitive rates to South Korea's premium service environment. Jurisdictional Rankings New Zealand leads the overall cost and time efficiency rankings, with multinationals benefiting from its streamlined digital processes and straightforward compliance requirements. Singapore tops processing speed, while Malaysia emerges as most cost-efficient. At the other end of the scale, South Korea, China, and Indonesia rank lowest with the most costly and complex, demanding careful planning and necessitating specific local expertise. Kariem Abdellatif, Head of Mercator ® by Citco comments: 'Our analysis reveals a stark reality in Asia-Pacific: organizations face a 29% higher workload managing their entities compared to global averages, driven by a growing digital divide across the region. While markets like New Zealand have fully embraced and embedded technology-enabled processes, others like Japan maintain more traditional requirements that significantly increase complexity and resources needed. This creates two distinct operational realities for multinational organizations. What's particularly challenging for global in-house teams is navigating these extremes both within a single region and a single team - from 11-day processing times in Singapore to 64 days in Macau. The contrast is striking: while one jurisdiction accepts simple e-signature execution, another requires multiple sequential approvals in a foreign language just to process a single document. As regulatory requirements evolve and digital transformation accelerates, this gap will likely widen further, making strategic entity management crucial for operational success.' To read the full report please visit: Notes to editors: About the report Part of Mercator's Entity Portfolio Management report series – the Asia-Pacific: Special Report provides direct insight into the cost and time required to manage entities across APAC. Unlike survey and sentiment-based reports, this report combines real-life data, with expert insights from our jurisdictional and cross-jurisdictional experts. This approach delivers benchmarks for multinational companies, with jurisdictions ranked by cost efficiency, time efficiency, and overall performance scores that combine both metrics to provide a comprehensive review of entity management across the region. The data The statistics that form the basis of this report cover the period between April 2024 to May 2025 and are drawn directly from Mercator ® by Citco's proprietary EPM technology platform – Entica ® – which individually records all the activities undertaken for clients. The data represents approximately $USD10.37 billion in market capital, spread across major business sectors in APAC. The global data covers over 180 jurisdictions and 20 different types of corporate secretarial activities. APAC's jurisdictional rankings feature the 17 most active jurisdictions in APAC (meeting a threshold of minimum five tasks or four entities). About Mercator ® by Citco Mercator by Citco (Mercator) is the pioneer of Entity Portfolio Management and a strategic partner for many organizations with a global footprint. Mercator's unrivalled knowledge and focus on entity management combined with our proprietary technology 'Entica ® ' is evolving the way multinational companies view and manage their portfolio of entities. Mercator's services cover over 180 jurisdictions via a single-point-of-contact model, delivered by highly-experienced, client-dedicated teams, supported by local operations that cover all time zones. Find out more at: About the Citco group of companies (Citco) The Citco group of companies (Citco) is a network of independent companies worldwide. These companies are leading providers of asset-servicing solutions to the global alternative investment industry. With $2 trillion in assets under administration and operations spanning across 36 countries, Citco's unique culture of innovation and client-driven solutions have provided Citco's clients with a trusted partner for more than four decades. View source version on CONTACT: Press contacts: Jack Kincade, Instinctif Partners:[email protected] KEYWORD: SINGAPORE SOUTHEAST ASIA ASIA PACIFIC INDUSTRY KEYWORD: FINANCE CONSULTING PROFESSIONAL SERVICES LEGAL ASSET MANAGEMENT SOURCE: Mercator Copyright Business Wire 2025. PUB: 07/08/2025 12:01 PM/DISC: 07/08/2025 12:02 PM
Business Wire
08-07-2025
- Business
- Business Wire
APAC Regulatory Complexity Creates 29% Higher Workload for Multinationals
SINGAPORE--(BUSINESS WIRE)--Multinational organizations face significantly higher operational demands in Asia-Pacific, with entities requiring 28.7% more management tasks than the global average, according to new data released in the Asia-Pacific Special Report by Mercator ® by Citco (Mercator). The analysis reveals stark contrasts in processing times - from 11 days in digitally advanced Singapore to 64 days in Macau - creating unprecedented challenges for corporate secretarial teams managing multi-jurisdictional portfolios. The findings, representing $USD10.37 billion in market capital, draw from actual operational data across 180 jurisdictions and 20 different types of corporate secretarial activities. Regional Position Activity Level: 5.37 tasks per entity vs global average of 4.18 APAC entities average 5.37 tasks versus the global 4.18, reflecting complex regulatory requirements and varying governance approaches. While regional hubs offer streamlined processes, the overall management burden remains significantly higher, often requiring local expertise. Governance: Highest global volume of board and shareholder decisions APAC leads globally in board-level activity, with triple the board and shareholder tasks compared to European counterparts. This reflects the region's distinct approach where boards serve as active management tools, with many markets requiring local directors and in-country representatives. Cost: 14% above North America, 47% below Middle East & Africa Entity management costs position APAC 14% above North American averages while maintaining a 47% advantage against Middle East & Africa. This reflects APAC's uniquely diverse market composition - from Malaysia's competitive rates to South Korea's premium service environment. Jurisdictional Rankings New Zealand leads the overall cost and time efficiency rankings, with multinationals benefiting from its streamlined digital processes and straightforward compliance requirements. Singapore tops processing speed, while Malaysia emerges as most cost-efficient. At the other end of the scale, South Korea, China, and Indonesia rank lowest with the most costly and complex, demanding careful planning and necessitating specific local expertise. Kariem Abdellatif, Head of Mercator ® by Citco comments: "Our analysis reveals a stark reality in Asia-Pacific: organizations face a 29% higher workload managing their entities compared to global averages, driven by a growing digital divide across the region. While markets like New Zealand have fully embraced and embedded technology-enabled processes, others like Japan maintain more traditional requirements that significantly increase complexity and resources needed. This creates two distinct operational realities for multinational organizations. What's particularly challenging for global in-house teams is navigating these extremes both within a single region and a single team - from 11-day processing times in Singapore to 64 days in Macau. The contrast is striking: while one jurisdiction accepts simple e-signature execution, another requires multiple sequential approvals in a foreign language just to process a single document. As regulatory requirements evolve and digital transformation accelerates, this gap will likely widen further, making strategic entity management crucial for operational success." To read the full report please visit: Notes to editors: About the report Part of Mercator's Entity Portfolio Management report series – the Asia-Pacific: Special Report provides direct insight into the cost and time required to manage entities across APAC. Unlike survey and sentiment-based reports, this report combines real-life data, with expert insights from our jurisdictional and cross-jurisdictional experts. This approach delivers benchmarks for multinational companies, with jurisdictions ranked by cost efficiency, time efficiency, and overall performance scores that combine both metrics to provide a comprehensive review of entity management across the region. The data The statistics that form the basis of this report cover the period between April 2024 to May 2025 and are drawn directly from Mercator ® by Citco's proprietary EPM technology platform – Entica ® – which individually records all the activities undertaken for clients. The data represents approximately $USD10.37 billion in market capital, spread across major business sectors in APAC. The global data covers over 180 jurisdictions and 20 different types of corporate secretarial activities. APAC's jurisdictional rankings feature the 17 most active jurisdictions in APAC (meeting a threshold of minimum five tasks or four entities). About Mercator ® by Citco Mercator by Citco (Mercator) is the pioneer of Entity Portfolio Management and a strategic partner for many organizations with a global footprint. Mercator's unrivalled knowledge and focus on entity management combined with our proprietary technology 'Entica ® ' is evolving the way multinational companies view and manage their portfolio of entities. Mercator's services cover over 180 jurisdictions via a single-point-of-contact model, delivered by highly-experienced, client-dedicated teams, supported by local operations that cover all time zones. Find out more at: About the Citco group of companies (Citco) The Citco group of companies (Citco) is a network of independent companies worldwide. These companies are leading providers of asset-servicing solutions to the global alternative investment industry. With $2 trillion in assets under administration and operations spanning across 36 countries, Citco's unique culture of innovation and client-driven solutions have provided Citco's clients with a trusted partner for more than four decades.
Time of India
01-07-2025
- Business
- Time of India
Citco to tie up with online platform to boost hotel bookings
Chandigarh: The Chandigarh Industrial Tourism and Development Corporation (Citco) will tie up with a private online platform to increase the occupancy of three hotels — Mountview, Shivalikview, and Parkview. This will also help Citco generate more revenue. The decision was taken in the Citco board meeting held here Tuesday. A UT official said, "Citco will soon sign an MoU with the private entity, and thereafter, the hotels will be listed on the site. It will help the hotels become more competitive in the open market." The board also approved the renovation of Hotel Parkview – both the rooms and the parking space at a cost of Rs 98 lakh. The renovation will be taken up in phases. The board also decided to supply bulk diesel to the Chandigarh Transport Undertaking for its buses. Apart from IOCL and BPCL, which provide bulk diesel to CTU at its depots, CTU was also procuring fuel from private petrol pumps. The board said in the future, when shops operating at Sukhna Lake are rented afresh, the shopkeepers will be allowed to sell goods according to the demand of the customers. tnn Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Time of India
08-06-2025
- Business
- Time of India
Not keeping pace? Citco hotels record dip in profits
Chandigarh: Profits of all three prominent hotels of Chandigarh Industrial and Tourism Development Corporation Limited (Citco) — Mountview, Shivalikview, and Parkview — dipped in the financial year 2024-2025. The profits were lower than those recorded in 2023-2024. Records show that Mountview, the only five-star hotel of the Chandigarh administration, located in Sector 10, suffered a significant dip in profit, amounting to Rs 63 lakh in 2024-2025 as compared to 2023-2024. Hotel Shivalikview, a four-star hotel of UT, witnessed a dip in profit of around Rs 41lakh up to Feb 2025. Profits of the three-star hotel, Parkview, also dipped by around Rs 33 lakh in 2024-2025 as compared to 2023-2024. I by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo n what comes as serious cause for concern for authorities, the income of Hotel Mountview, UT's main five-star hotel, showed the maximum reduction among the three UT hotels in 2024-2025. Records show a significant dip in the room rent, coffee shop, bar and bakery of hotel Mountview, following which overall income reduced from Rs 28.83 crore in 2023-2024 to Rs 27.73 crore in 2024-2025, which is over Rs one crore less. The miscellaneous income segment also showed considerable decline. Despite their prime location, hotels Shivalikview and Parkview failed to increase profits by attracting customers. However, Hotel Parkview registered an increase in the income segment from Rs 16.17 crore in 2023-2024 to Rs 16.62 crore in the 2024-2025 financial year. Though there are multiple reasons for the dip in profits of all these Citco hotels, administrative decisions, non-regular managing director (MD), and pending renovation for over a decade are cited as key reasons. "Though the matter of major renovation was discussed and even approved in the board of Citco in the past, no major renovation, especially of the rooms and related areas, was started. The entry, exit, and overall ambience of any hotel are major attractions but in Citco hotels, the entry and exit are not that attractive. Besides, withdrawing the power of discount from the hotel units a few years back also led to people losing interest in Citco hotels," sources in Citco said. No MD for nearly 2 to 3 years Citco has not had a regular managing director (MD) for the past almost three years. The Citco managing director used to be a Punjab cadre IAS officer before 2022. From 2022, the post has been with an AGMUT cadre IAS officer. In 2022, after relieving Punjab cadre IAS officer Jaswinder Kaur, who went back to Punjab after completing her three-year deputation period with the Chandigarh administration as Citco managing director , the charge was initially given to AGMUT cadre IAS officer Purva Garg. Currently, MD Citco's charge is being looked after by AGMUT cadre IAS officer, Hari Kallikkat. Kallikkat is a non-regular MD, as he is also looking after multiple charges of the UT administration. Besides MD, Citco, he holds charges of excise and taxation commissioner, secretary, information technology, secretary, animal husbandry, and secretary, agriculture. MSID:: 121708037 413 |
Irish Times
21-05-2025
- Business
- Irish Times
IFSC office blocks at €24m offer buyer 10.07% initial yield
Just over 10 years after its precursor Standard Life acquired numbers 3 and 5 Custom House Plaza in the IFSC, UK-headquartered investor Aberdeen is looking to dispose of both buildings. The properties, which have seen substantial investment under Aberdeen's ownership, are being offered to the market by agent TWM at a guide price of €24 million. The figure offers a useful insight into the current market for office stock in the IFSC, when one considers that Standard Life paid the same amount for numbers 3 and 5 two years prior to its 2017 merger with Aberdeen. News of the Custom House Plaza sale comes just over one week after La Touche House at nearby George's Dock came to the market at a guide price of €25 million, or some 70 per cent less than the €84 million it achieved when it was sold in 2020 to Axa IM Real Assets and BCP Capital. READ MORE The figure offers a useful insight into the current market for office stock in the IFSC Located next to Connolly Station, the wider Custom House Plaza development comprises six office buildings, including the two properties now being brought to the market. Numbers 3 and 5 Custom House Plaza extend to a total net internal area of 5,631sq m (60,606sq ft) and have 71 secure basement car parking spaces. Citco Fund Services accounts for 50 per cent of the total annual rental income of €2,656,974. Citco occupies the largest floor area, has been in Custom House Plaza since 1998, and recently renewed its leases. Other tenants include FlexiFi Europe Services, Companjon, Maxol and Device Atlas. The combined weighted average unexpired lease term is currently 6.49 years to expiry and 3.89 years to break. Aberdeen has undertaken significant investment in the buildings' office accommodation and has improved the Ber rating which ranges from E1 to B1. It has also recently completed a full CAT A&B fit-out of level five in 3 Custom House Plaza which extends to 4,439 sq ft and benefits from both office and medical planning consent. Level 3, which is currently leased to an office occupier, also has the benefit of dual planning consent for office or medical use. The building's potential value as a medical facility is evidenced by the HSE's purchase last year of the neighbouring 2 Custom House Plaza for use as the Mater Hospital's new ophthalmology unit. Michele Jackson is offering numbers 3 and 5 Custom House Plaza for sale in one lot or individually, with a collective guide price of €24 million equating to a net initial yield of 10.07 per cent.
