Deals involving natural-resource companies helped drive investment-banking revenues for the Asia-Pacific region to a record in the first quarter, despite a decline in share sales, another key revenue source.

　　一季度，盡管投資銀行另一個主要收入來源股權(quán)招售的業(yè)務(wù)量減少，但涉及自然資源公司的大量交易助推亞太地區(qū)投資銀行業(yè)務(wù)收入創(chuàng)下新高。

　　Underscoring the depth of Asia's interest in acquiring mining, energy and other resources, China's Minmetals Resources Ltd. said Monday it intends to offer 6.3 billion Canadian dollars (US$6.5 billion) for Australian-based copper-miner Equinox Minerals Ltd. More deals look likely.

　　中國五礦資源有限公司（Minmetals Resources Ltd.，簡稱：五礦資源）周一宣布，該公司打算向澳大利亞銅礦企業(yè)Equinox Minerals Ltd.發(fā)出63億加元（約合65億美元）的收購要約。此舉凸顯亞洲企業(yè)對收購礦業(yè)、能源和其它資源類企業(yè)的極大興趣。更多此類交易可能發(fā)生。

　　"Given the rise in commodities prices, we see the natural-resources sector leading the way [in deal-making]. National oil companies are really scouring the market for opportunities and we think they will find several in the coming months," said Rob Sivitilli, head of mergers and acquisitions for Southeast Asia at J.P. Morgan Chase.

　　摩根大通（J.P. Morgan Chase）東南亞并購業(yè)務(wù)負責人Rob Sivitilli 說，由于大宗商品價格上漲，我們看到自然資源領(lǐng)域達成的交易數(shù)量遙遙領(lǐng)先。各國家石油公司都在仔細尋找市場機會，我們認為未來幾個月它們會找到好幾個交易機會。

　　U.K. oil giant BP PLC's acquisition of oil and natural-gas assets controlled by India's Reliance Industries Ltd. for up to $9 billion, depending on the success of future exploration, is one of the largest M&A deals in the region so far this year, according to data provider Dealogic.

　　數(shù)據(jù)提供商Dealogic透露，英國石油巨頭英國石油公司（BP PLC）將最多出價90億美元收購印度瑞來斯實業(yè)公司（Reliance Industries Ltd.）控制的石油和天然氣資產(chǎn)，這是今年截至目前該地區(qū)最大的一宗并購交易。交易能否成功取決于未來勘探是否順利。

　　Investment banks generated $3.8 billion in revenue across the Asia-Pacific region from M&A, syndicated loans and equity and bond deals in the first three months of the year, up from $3.5 billion in the same period a year earlier, according to Dealogic estimates. Excluding Japan, revenue was $3.0 billion, up 35% from the $2.2 billion a year earlier and a record for the first quarter of a year.

　　據(jù)Dealogic估計，今年頭三個月，亞太地區(qū)的投資銀行從并購、銀團貸款、股票和債券交易等業(yè)務(wù)中創(chuàng)造了38億美元的收入，同比增加3億美元。日本以外地區(qū)一季度上述業(yè)務(wù)收入為30億美元，比去年同期22億美元增加了35％，創(chuàng)下了歷年一季度收入新高。

　　While M&A was strong, share sales, including initial public offerings, fell. So-called equity-capital-market deals around the region fell to $66.2 billion from $77.5 billion a year earlier, hit by a 53% slide in Japanese deals to $12.5 billion from $26.6 billion a year ago, according to Dealogic. Several deals were withdrawn in the wake of the March 11 earthquake in Japan, including real-estate investment trust United Urban Investment Corp.'s plans to raise about 65 billion yen (about $750 million).

　　盡管并購市場非常強勁，但包括首次公開募股在內(nèi)的股權(quán)招售業(yè)務(wù)卻出現(xiàn)了下滑。Dealogic說，這一地區(qū)所謂股權(quán)資本市場的交易規(guī)模從一年前的775億美元下降到662億美元。這主要是受日本市場交易規(guī)模高達53%的跌幅沖擊（從一年前的266億美元跌至如今的125億美元）。3月11日日本地震過后，好幾宗交易被撤銷，其中包括房地產(chǎn)投資信托公司United Urban Investment Corp.取消了650億日圓（約合7.5億美元）的融資計劃。

　　Excluding Japanese share sales, volume stood at $53.7 billion across 518 deals, up 5.5% from a year earlier. The region's biggest share deal for the quarter was Hutchison Port Holdings Trust's $5.4 billion IPO in Singapore.

　　不包括日本在內(nèi)，亞太地區(qū)股權(quán)招售共計518宗交易，規(guī)模達537億美元，同比上漲5.5%。一季度亞太地區(qū)規(guī)模最大的股權(quán)招售當屬和記港口控股信托（Hutchison Port Holdings Trust）在新加坡的首次公開募股，總共募集資金54億美元。

　　Bankers said the first quarter seemed relatively quiet after the busy autumn of 2010. One reason for the drop in activity was that the flood of money from global investors that flowed into Asia last year streamed back into U.S. and European markets because of fear inflation was rising in countries such as Indonesia and China.

　　投行人士說，在經(jīng)過繁忙的2010年秋季之后，今年一季度顯得相對冷清?；钴S程度下降的一個原因，在于國際投資者去年投向亞洲的大量資金流回了美國和歐洲市場，因為印度尼西亞和中國等國家通貨膨脹的加劇讓他們擔心。

　　This year through March 30, investors pulled a net $5.9 billion from the Asia-Pacific region, although capital flowed into the region in the final week of the period, according to data from EFPR Global.

　　據(jù)EFPR Global數(shù)據(jù)，今年以來截至3月30日，投資者從亞太地區(qū)凈撤資金59億美元，但在這段時期的最后一個星期，資金呈現(xiàn)為凈流入。

　　Bankers hope the flow of cash picks up enough momentum to support the growing band of global brand names seeking Hong Kong listings.

　　 投行預(yù)計，這種現(xiàn)金流入為支持越來越多的全球品牌在香港上市營造了足夠好的環(huán)境。

　　Headline deals expected in the coming months include offerings from the Italian fashion house Prada SpA and the Swiss commodities company Glencore International AG.

　　預(yù)計未來幾個月的重頭上市活動將包括意大利時裝品牌普拉達(Prada SpA)和瑞士大宗商品公司嘉能可(Glencore International AG)。

　　Steven Barg, Goldman Sachs Group Inc.'s co-head of equity capital markets for Asia excluding Japan, said 2011 should rival 2010 in terms of IPO volume, with most deals coming towards the second half of the year. Goldman was the busiest firm in the region excluding Japan during the first quarter measured by the value of equity-capital-markets deals.

　　高盛集團(Goldman Sachs Group Inc.)股權(quán)資本市場亞洲（除日本）共同負責人巴爾格(Steven Barg)說，2011年的IPO數(shù)量應(yīng)該可比2010年，而其中多數(shù)都將在下半年舉行。按股權(quán)資本市場交易價值計算，一季度高盛是亞洲除日本地區(qū)最忙的投行。

　　In anticipation of a flood of deals later this year, UBS AG is raising its investment-banking staffing for the Asia-Pacific region by 20% this year, said Matthew Hanning, the bank's regional head of investment banking. The bulk of the new hires will work on share sales for Chinese companies. In volume terms, equity-capital-markets business from Chinese companies reached the highest level for any first quarter on record. A total of $28.1 billion was raised via 150 deals, up 30% from a year earlier.

　　瑞士銀行(UBS AG)投行部亞太區(qū)負責人漢寧(Matthew Hanning)說，該行預(yù)計今年晚些時候會有很多公司上市，所以打算在今年把亞太地區(qū)投行部門的人員配備提高20%。多數(shù)新招人員的工作將是銷售中資公司的股票。按量計算，來自中資公司的股票資本市場業(yè)務(wù)達到了史上最高的一季度水平。150宗交易共計融資281億美元，同比增長30%。

　　UBS remained the top-ranked bank in terms of investment banking revenue from M&A, syndicated loans and equity and bond deals for the Asia-Pacific region excluding Japan, according to data from Dealogic.

　　據(jù)Dealogic數(shù)據(jù)，瑞銀從亞太除日本地區(qū)并購、銀團貸款和股票債券上市業(yè)務(wù)取得的投行收入，仍然位列第一。

　　The Asia-Pacific area made up about 22% of revenues for banks globally. Mr. Hanning calculated that the region's share of the global revenue pie has been growing at about six times the global average, attracting more banks to the region.

　　投行全球總收入當中，約22%來自亞太地區(qū)。漢寧計算，全球總收入當中，亞太地區(qū)所占部分的增長速度約為全球平均增速的六倍，吸引著更多投行來到這一地區(qū)。

　　"I think there must be nine or 10 banks that see being within the top three in Asia as a core part of their strategy," he said.

　　他說，我覺得肯定有九家或10家銀行都把進入亞洲前三甲視為其戰(zhàn)略的一個核心部分。