Are you less active now than you were this time last year
Not in terms of volume. Last year was perhaps a bit of an anomaly with deals like PCCW HKT, which skewed the total deal size. The value of deals this year is clearly a lot lower on an aggregate basis. But in terms of numbers of deals, we are probably up on last year.
We are continuing to see a trend of an increasing number of $1 billion plus deals in Asia. And that is a good thing.
What would the MA market look like this year if we stripped out Singapore
On a full year basis I don...