State of suspense as sponsor bails on Man Asian

The Man Asian Literary Prize has grown in stature since it began in 2007, with some classing it as the "Asian Booker". But last October, the award's sponsor, The Man Group, announced that the 2012 prize - to be presented in Hong Kong on Thursday - would be the last it funded, which makes for an interesting impasse.

On the one hand, the sophisticated novels that have been shortlisted for the 2012 prize bear testament to how far the Man Asian has come. Two were also shortlisted for the Man Booker Prize and one of those, Jeet Thayil's , won the DSC Prize for South Asian Literature. One of the authors is also a Nobel laureate.

On the other hand, the prize faces an uncertain future, but organisers are confident they will find a new sponsor and an announcement could be made to that effect at the black-tie dinner to announce this year's winner on Thursday. Still, having either one new sponsor or a collection of them could affect how the prize continues.

The 2012 prize saw a record 108 entries, whittled down to a longlist in December, and then a shortlist of five a month later. The books need to be published in English, which also highlights the importance of translators in these works. The winning author receives US$30,000; if the book has been translated, the translator will receive US$5,000.

There are major publishing houses involved, but organisers of the Man Asian Literary Prize are pleased to see small publishers among the big players. British journalist and literary critic Maya Jaggi chairs the panel of judges and, along with Vietnamese-American novelist Monique Truong and Indian novelist Vikram Chandra, will choose the winner from the following five shortlisted novels.

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