The Week In Numbers – Far Too Much Money

Over 40 countries have now asked to join the China-led Asian infrastructure bank. Kyrgyzstan is the latest country that has requested to become a founding member of the Asian Infrastructure Investment Bank (AIIB). Its wish could be granted if other members approve.

China has pledged to finance around half of the US$100b for the new bank, while other Asian members will contribute around a quarter. Non-Asian countries could contribute the remaining 25%.

According to a recent survey, around 25% of Asian enterprises plan to expand into Myanmar this year. This follows the country’s steps to liberalise its banking sector.

The survey found that Hong Kong businesses were some of the most bullish on Myanmar. Around one in three enterprises in the former British colony want to expand into Myanmar this year. But only a fifth of Singapore businesses said they would.

Currently, a number of Singapore-listed companies already have some exposure to Myanmar. These include property developer Yoma Strategic Holdings (SGX: Z59) and telecom outfit Ntegrator International (SGX: 5HC).

Singapore’s Temasek plans to invest roughly S$60m  in the UK’s fast-growing peer-to-peer lending platform called Funding Circle. Temasek, which has invested in Alibaba, is expected to join Blackrock and Baillie Gifford in subscribing to over S$100m of new capital for Funding Circle.

And finally, do we really need any more proof that there is far too much money floating around the global economy? It seems that a rare Picasso could smash auction records when it goes on sale in May.

Auction house Christie’s reckons that Les femmes d’ Alger could sell for more than US$140m, as wealthy investors from around the world look to diversify their portfolios.

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