Private equity investment in Southeast Asia declined to US$12 billion last year after reaching a record high of $14 billion in 2017, with COVID-19 posing a risk to investment this year, a global consulting firm says.According to “Southeast Asia Private Equity Report” published by Bain & Company, last year’s private equity investment in Southeast Asia was driven by the internet and technology sector, which represented over 60 percent of all deals, especially in Indonesia.However, the COVID-19 pandemic and the global recession in 2020 will challenge private equity investment this year as investors look for ways to protect their investments and reemerge stronger after the crisis, the report said. “In preparation for this period, general partners are looking at the global financial crisis as an indicator of what to expect moving forward,” said Bain & Company partner Usman Akhtar.“During the global financial crisis, the number of funds raised in Asia Pacific countries flat-lined and were significantly smaller,” Akhtar said. “While investors are likely to remain committed to private equity during this crisis, fundraising will slow.”The report said that before COVID-19, investors regarded Southeast Asia as a challenging environment for private equity with high multiples and a lack of deal opportunities in Thailand and the Philippines.“With the current pandemic, we expect a sustained impact on the PE industry throughout the year with more companies looking for financing given the cash flow situation.”Investment recovery will depend on how long it takes to “reopen the economy” as well as what social-distancing measures are still in force, Bain said.Bain expects deal making to slow in the near term. However, the record amount of dry powder in the market will continue to serve as the driving force for ongoing investment.“Returns for private equity will likely decline sharply in short term, but new deals could have potentially good returns,” the report said. “With public markets volatile and corporates holding onto cash, private equity is well positioned to be the buyer of any asset that comes up for sale.”Topics :
AFTER: The back of the house after the renovation.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoThe second stage of the renovation required removing the asbestos extension at the back of the cottage, adding a carport, guest bedroom and bathroom, and laundry, which Mrs Dunlop was happy about after having lived without one for a couple of years.Both stages were completed solely by the Dunlops, with Mr Dunlop using his skills as a tradesman and Mrs Dunlop using her creative flair to design the interior.“He’s gone very grey,” Mrs Dunlop said, referring to her husband.“We’re needing a holiday.“The kids are sick of spending all our money on houses!” MORE: Historic home sells for millions AFTER: The back yard of the home at 54 Meiers Rd, Indooroopilly, after the renovation.RENO FACT CHECKTime taken: 5 yearsTotal spend: $1.03m BEFORE: Inside the house at 54 Meiers Rd, Indooroopilly, before it was renovated. AFTER: The main bedroom in the home after the renovationThe property is also in a highly sought-after location, close to the University of Queensland and the in-demand Ironside State School and St Peters Lutheran College.“We don’t want to leave this one — it’s got a beautiful feel,” Mrs Dunlop said.“It’s very humble when you look at it from the street, but once you walk in, you discover it opens up to this beautiful big space.“It’s full of surprises.” BEFORE: Inside the fibro extension to the house at 54 Meiers Rd, Indooroopilly, before it was renovated. AFTER: The kitchen and living area of the home after the renovation.But the Dunlops are itching to start their next project.“It’s too perfect for us1” Mrs Dunlop said.“The kids are getting too spoiled here.“We need to find somewhere that needs a makeover again.” AFTER: One of the bathrooms in the home at 54 Meiers Rd, Indooroopilly.The renovation process was undertaken in three stages, with the couple deciding to retain the original 1950s home rather than demolish and rebuild.“Our main objective was to retain and restore the original cottage and bring it into the modern era,” Mrs Dunlop said.“At no stage did we want to knock it down, although it would have been a lot easier and cheaper.”Mrs Dunlop said the first stage required getting the home in a “liveable state” so they could move in — noting they had two children, aged 10 and six, at the time.“Adam demolished the entire interior and oversaw the rebuild, which involved installing a new kitchen and bathroom, levelling the backyard and landscaping it,” she said.“At that stage it was just a two-bedroom cottage, so unfortunately for them, the kids had to share a room.” BEFORE: The back of the house at 54 Meiers Rd, Indooroopilly, before it was renovated. AFTER: The outdoor entertaining area of the home post renovation.But they brought the professionals in for the third and final stage — a massive, three-storey extension, encompassing the master bedroom on the top floor, a media room or fifth bedroom on the second floor and a large, multipurpose room on the basement level.“At this stage we engaged an architect to help us connect the old home to this new modern extension,” Mrs Dunlop said.“We wanted it to look as seamless as possible.”They also installed a large, undercover outdoor terrace and pool.The 870 sqm yard features lush lawns with plenty of space for the kids to run around.“The kids have plenty of space inside and out,” Mrs Dunlop said.“We can always see the kids, but you can’t hear them!” AFTER: The front of the house at 54 Meiers Rd, Indooroopilly, after the renovation. This is the couple’s fourth home renovation — and their favourite so far.They loved the Indooroopilly area and were looking for a new venture, so when they came across 54 Meiers Rd in 2014, they knew it was for them.“We found this little, old, rundown home and it just had an enormous amount of character and a massive big yard, which was sort of a rarity at that time,” Mrs Dunlop said.“I saw it, brought my husband through and put an offer on it that same night, and we were lucky enough to get it.“It was very rundown and the yard was overgrown, but you could tell it was a beautiful little home underneath — the bones were beautiful.” BEFORE: The bathroom in the house at 54 Meiers Rd, Indooroopilly, before it was renovated. BEFORE: The main bedroom in the house before it was renovated. Adam and Louise Dunlop with kids, Nick and Ella Dunlop, and dog Coco at the home in Indooroopilly they have renovated and are now selling. Image: AAP/Josh Woning.THE Dunlops are the first to admit they are in desperate need of a holiday.After five years of late nights, weekends and all their spare time taken up with renovating, it’s time for a break.But Louise and Adam Dunlop have already set their sights on their next project — much to their children’s dismay. RELATED: Reno passion project pays off BEFORE: The Dunlops during the renovation of their home at 54 Meiers Rd, Indooroopilly. BEFORE: The bathroom before it was renovated. “The kids aren’t happy,” Mrs Dunlop said.“We’ve just got this home to a beautiful state and we’ve already got our eyes on another little, rundown home, so they’re not thrilled!” AFTER: The living and dining area in the home after the renovationMrs Dunlop hinted that their next home would also be something with “a bit of character”.“I don’t think I’d be happy with a standard, big project home,” she said.“Imagine what the landscape would like if everyone had the same.”The property is being marketed by Alex Jordan of McGrath Estate Agents – Paddington with a price guide of $1.85 million to $2.05 million. BEFORE: The front of the house at 54 Meiers Rd, Indooroopilly, before it was renovated. BEFORE: The back of the house at 54 Meiers Rd, Indooroopilly, before it was renovated.
Photo: Switzerland County EMAVersailles, In. — Recently firefighters training in the District 9 Firefighter I/II Course held in Versailles worked on live fire skills stations at the Versailles Regional Training Facility.Firefighters worked on fire extinguishers, wildland firefighting, vehicle firefighting, structural fire attack, LP Tank Prop Fire, along with Search & Rescue.Photo: Switzerland County EMAIn two weeks final skills testing will be conducted.