Top Stories from this week's IFR Asia magazine
Friday 1600 Hong Kong / Friday 0900 London
All political lives, unless they are cut off in midstream at a happy juncture, end in failure.
When it comes to bank capital, India’s central bank has often been guilty of drafting ambiguously worded regulations that create unnecessary confusion. Even by its own standards, however, its latest move will take some beating.
The pipeline of share sales from India’s state-owned banks is in tatters after an alleged US$1.8bn fraud at the country’s second-biggest public sector bank revived concerns over bad loans and corporate governance in the sector.
The Republic of Indonesia issued the first Green sovereign bond from Asia on Thursday, driving awareness of environmentally conscious investments in a region that has lagged the rest of the world.
Thai Beverage is preparing to raise up to Bt50bn (US$1.6bn) in its biggest baht bond issue, adding to a string of acquisition-related financings in the local debt market.
Foxconn Industrial Internet, a mainland unit of Taiwan’s Foxconn, has applied for a Shanghai IPO that could set a milestone for China’s ability to attract major listings from the fast-growing technology sector.
Indonesian issuers are drawing increasing demand for their US dollar debt from Chinese investors, attracted by high returns in one of Asia’s most dynamic economies.
India’s central bank has taken the unprecedented step of ordering some of the country’s weaker banks to redeem their capital securities ahead of schedule, triggering a debate over regulatory interference in the fixed-income sector.
The challenge for Stuart Gulliver when he took over as CEO of HSBC at the start of 2011 was to shake off a moniker that was increasingly being used for the bank – How Simple Became Complicated.
Two Singaporean banks added to the growth of the city state’s covered bond market last week, as United Overseas Bank and Oversea-Chinese Banking Corp set new European benchmarks.
Japanese regional lender Tokyo Star Bank is pushing into Australia’s property market as it expands overseas in an effort to increase returns beyond its stagnant domestic market.
BNP Paribas and Intesa Sanpaolo ended a month-long drought in the yen market last week with a pair of bond issues that tapped into strong demand for overseas and lower-rated credits.
Noble Group has expressed confidence that more than half of senior creditors are prepared to support its January 29 restructuring plan, but has not set a date yet for a vote on the proposal.
Singapore Exchange has shrugged off the termination of its data licence with India’s National Stock Exchange, which triggered a more than 8% fall in its share price, saying it was working on the launch of other derivatives.
China’s securities regulator has asked for a two-year extension on its plans to introduce a registration-based IPO system, according to the state-run Xinhua News Agency.
Two state-owned companies – Bharat Dynamics and Indian Renewable Energy Development Agency – have received approvals from the Securities and Exchange Board of India to conduct IPOs.
Online gaming developer 7road.com plans to raise about US$200m–$300m from a Hong Kong IPO this year, according to people close to the deal.
Private equity firm Permira Advisers has launched a A$690m (US$539m) five-year LBO loan to fund its takeover of X-ray provider I-Med.
Major shareholders of Jubilant Life Sciences raised Rs4.9bn (US$75m) from the sale of 5.33m shares in the company, according to a term-sheet.
The Republic of Indonesia issued the first Green sovereign bond from Asia on Thursday, driving awareness of environmentally-conscious investments in a region that has lagged the rest of the world.
Sembcorp Industries has confirmed that it plans to list its Indian energy business Sembcorp Energy India on BSE and the National Stock Exchange of India.
Shenzhen-listed Shenzhen New Nanshan Holding (Group) has received written approval from the China Securities Regulatory Commission to take over Shenzhen Chiwan Petroleum Supply Base.
Major shareholders of Jubilant Life Sciences are selling Rs4.9bn (US$75m) of shares in the company, according to a deal term-sheet.
Nomura has named John Goff head of client financing and solutions for Asia ex-Japan, a new business unit set up as part of the brokerage firm’s efforts to expand financing, capital and hedging for clients.