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Friday, 31 October 2014

Top Stories from this week's IFR Asia magazine

Released online
Saturday 23:00 Hong Kong / Friday 16:00 London


Samsung SDS builds momentum

Samsung SDS builds momentum

IFR Asia 867 - October 25, 2014

A strong reputation and a leading position in the industry prompted investors to flock to Samsung SDS’s IPO of up to W1.16tn (US$1.1bn), setting a positive tone for another upcoming Samsung-related deal – the US$1.4bn listing of Cheil Industries.

A woman walks past a branch of the Australian state-owned health insurer Medibank Private in Sydney.

Medibank to set Aussie record

IFR Asia 867 - October 25, 2014

Largest Australian private health insurer Medibank Private is pushing ahead with its jumbo IPO of up to A$5.5bn (US$4.83bn), despite the recent volatility in global markets.

SGX joins renminbi futures game

SGX joins renminbi futures game

IFR Asia 867 - October 25, 2014

Singapore Exchange last week launched its first renminbi futures products in a move to enhance the city state’s status as an offshore hub for the currency outside Greater China.

A worker cleans a sign of Indonesian state oil company Pertamina at a petrol station in Bekasi, Indonesia's West Java province.

Indonesia rides high on optimism

IFR Asia 867 - October 25, 2014

Indonesia is shaping up to be one of the highlights of the Asian loan market in 2014 as lenders wager that the country’s new government will push through necessary economic reform.

Jokowi lifts cautious markets

Jokowi lifts cautious markets

IFR Asia 867 - October 25, 2014

Credit markets welcomed the inauguration of new Indonesian pro-business President Joko Widodo, popularly known as “Jokowi”, as sovereign bonds had rallied since he came to office last Monday.

Stock scheme tests Asian regulators

Stock scheme tests Asian regulators

IFR Asia 867 - October 25, 2014

The Hong Kong-Shanghai cross-border stock initiative is likely to present a huge test for regulators in the SAR and China to work together to prevent, identify and punish financial wrongdoing, market participants say.

Tata Motors logos are pictured outside their flagship showroom in Mumbai.

Investors bet on Indian rally

IFR Asia 867 - October 25, 2014

Indian bond offerings from IDBI Bank and Tata Motorsthrived last week, despite choppy credit markets, pointing to investors’ continued demand for top-quality Indian assets.

Suncorp revives local covered market

Suncorp revives local covered market

IFR Asia 867 - October 25, 2014

Suncorp-Metway breathed new life into an out-of-favour asset class Thursday, when it sold only the second Australian dollar covered bond of the year from a local issuer.

China Insurance Regulatory Commission (CIRC) Chairman Xiang Jun-bo (L) shakes hand with Taiwan's Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung in Taipei.

CIRC grants approval for insurers

IFR Asia 867 - October 25, 2014

The China Insurance Regulatory Commission gave its approval on October 17 for insurance companies to invest in preference shares.

A man walks by the logo of CITIC Securities at a branch of the security brokerage house in Beijing.

CiticSec scores PRC first

IFR Asia 867 - October 25, 2014

Citic Securities has become the first Chinese brokerage to issue an offshore bond using an onshore parent guarantee under the new State Administration of Foreign Exchange rules.

China International Capital Corporation President and CEO Levin Zhu attends the Asian Financial Forum (AFF) in Hong Kong.

CICC: Jin Liqun leaves

IFR Asia 867 - October 25, 2014

Jin Liqun has resigned as chairman and member of board of directors of China International Capital Corporation.

Korean Air workers transport pallets of cargo at the cargo terminal of Incheon International Airport, west of Seoul.

KAL lifts off with state backing

IFR Asia 867 - October 25, 2014

Korean Air last week became the first corporation to issue a senior unsecured bond with a guarantee from the Export-Import Bank of Korea. The move paves the way for more cash-strapped Korean companies to access public overseas funding through the support of the highly rated bank.

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IFR's daily digest of views & news for capital markets professionals

Keith Mullin 475px June 2014

Welcome back FICC – all is forgiven

Keith Mullin senses a positive shift in the industry’s fixed income trading numbers.

Jonathan Rogers new June 2014

A fairy tale of Asian high-yield

Trading Asian credit need not necessarily be a fool’s errand, says Jonathan Rogers.

Keith Mullin 475px June 2014

Stress tests change nothing

Editor-at-large Keith Mullin asks:  What about the over-capitalised banks?

Barclays

Bank of England increases lenders' risk buffers, but less than expected

(Reuters) - The Bank of England told British banks on Friday they will be required to hold more capital to guard against the risks of bad loans, but the new measures were less stringent than many had expected.

European Union flags

EU rules threaten swaps compression

Industry-driven initiatives to streamline balance sheets by clearing out superfluous swaps trades are set to come under pressure as clearing and execution rules being rolled out across Europe threaten to slap higher costs on an activity that is intended to reduce risk.

UBS

Trial of former UBS executive dredges up bank's shady past

(Reuters) - From bundles of cash inside scraps of newspaper to setting up shell companies, the trial in Florida of a former UBS executive is a reminder of the extreme methods some Swiss bankers used to hide clients’ cash.

RBS

Be afraid, be very afraid of the eurozone's zombie banks

Alberto Gallo of RBS on the tricks the ECB might employ.

Peters 475px June 2014

On the BoJ's surprise attack

Peters: If a week is a long time in politics, then two days are an aeon in markets.

BNPP

BNP back in profit, on look out for bolt-on acquisitions

(Reuters) - BNP Paribas, France’s No. 1 bank, said third-quarter net income rose 11 percent from a year ago as gains in fixed income trading and in international retail offset a lacklustre economic environment in its core European markets.

RBS

RBS sets aside US$639m to settle forex probes

(Reuters) - Royal Bank of Scotland said it had set aside 400 million pounds ($639 million) to cover potential fines for manipulating currency markets and another 100 million to compensate customers mis-sold loan insurance.

More from Capital City

IFR Asia Awards 2014

We are delighted to announce the IFR Asia Awards 2014. To help us in the selection process, we invite banks to submit brief written presentations with supporting data on or before October 13.

Please click here for a list of categories and more details about the awards process.

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Special report

A worker installs models in preparation for a real estate exhibition in Shanghai.

IFR Asia China Corporate Funding Roundtable 2014

IFR Asia - China Corporate Funding Roundtable 2014

China’s growing use of international debt has been the single-most important story of the past three years in the Asian capital markets.

Stock disconnect

IFR Asia 867 - October 25, 2014

The Greater China equity market has been preoccupied lately with the exact launch date of the China-Hong Kong cross-border trading platform as well as problems related to taxation and share ownership within the new scheme. These details are naturally very important, but they are only short-term concerns.

Not about China

IFR Asia 867 - October 25, 2014

Two very important IPOs are working their way through Asia Pacific’s capital markets, and for a change, they have almost nothing to do with China or US dollars. That means the deals, pricing in South Korea and Australia, have the potential to attract coveted foreign investor demand away from the all-important mainland market.

Comment and Opinion

Jonathan Rogers new June 2014

A fairy tale of Asian high-yield

IFR 2057 1 November to 7 November 2014

Trading Asian credit need not necessarily be a fool’s errand, says Jonathan Rogers.

Stock scheme tests Asian regulators

Stock scheme tests Asian regulators

IFR Asia 867 - October 25, 2014

The Hong Kong-Shanghai cross-border stock initiative is likely to present a huge test for regulators in the SAR and China to work together to prevent, identify and punish financial wrongdoing, market participants say.

China International Capital Corporation President and CEO Levin Zhu attends the Asian Financial Forum (AFF) in Hong Kong.

CICC: Jin Liqun leaves

IFR Asia 867 - October 25, 2014

Jin Liqun has resigned as chairman and member of board of directors of China International Capital Corporation.

BNP Paribas/GE Cap: Pair make APAC moves

IFR Asia 867 - October 25, 2014

Christophe Cerisier has left GE Capital to join BNP Paribas as head of loan capital markets for Asia-Pacific, resulting in the US firm promoting Rahul Mathur as replacement.

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