South-east Asian conglomerates’ returns fall at end of ‘golden age’

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The Financial Times

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The returns of south-east Asia’s conglomerates have plummeted, marking the end of a golden age for the sprawling businesses that are among the biggest drivers of the region’s $3.6tn economy.

After decades of outperforming global peers, conglomerates from countries including Indonesia, Thailand, Malaysia and the Philippines have “lost their edge”, according to research by management consultancy Bain & Company.

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