IFR Asia 2011 Roll of Honour

The theme of Asian decoupling is as old as the hills. For years, economists and analysts have argued over whether or not Asia is a sufficiently powerful and independent economic bloc to be able to come through the macro shocks relatively unscathed. It is always hoped for, but never quite achieved. With Europe in crisis and the US flirting with recession and unresolved debt, the question is being asked again. The simple truth is that, no matter how much more robust Asian economies look than those in the west, regardless of how much better...

As 2011 draws to a close with European deleveraging and global job cuts high on the agenda, it is easy to overlook the enormous achievements made across the Asian capital markets over the past 12 months. Asian investments are now as important a part of any global portfolio as they have ever been, confirming the global shift of capital from West to East is no short-term blip. Even in jittery markets, Asian sovereigns were able to capitalise on that trend to raise funding at far lower rates than many of their far higher-rated European peers could...

Against an uncertain backdrop, National Australia Bank stood out in the last 12 months in a competitive market. The bank’s 17 lead mandates covered a wide range of transactions from corporate loans to project financings and leveraged buyouts. Despite intense competition, it expanded its market share and registered the biggest market-share gain of any bank on a year-on-year basis. Of NAB’s 17 mandates, an impressive 10 were on a sole basis, including loans for real-estate developer Australand Property Group, department store operator Myer...

IFR Asia reviews 2011 in cartoons A selection of some of the best cartoons published during 2011 in IFR Asia.

The Australian and New Zealand bond markets endured a rollercoaster ride through the year with a strong start giving way to contagion fears as the deepening eurozone banking and sovereign debt crises spread alarm across the globe. JP Morgan was once again at the forefront of the lucrative 144a and US private placement markets, while remaining a significant player in the euro, sterling and Aussie dollar arenas. Overseas bond markets took on a dominant role for Australian and NZ issuers after the start of the summer, with many local firms looking...

China, it is widely agreed, is the new engine of world growth. However, it is an engine that may need some tuning. As new champions emerge in one industry after another – from banking to telecoms and resources – some less desirable names and practices are also coming under the international spotlight. Although bankers are watching this with some alarm, it is really the international accountants who have most to be concerned. So far this year, three of the world’s four biggest accountancy groups have either been caught up in controversy about...

Hong Kong property conglomerate Cheung Kong (Holdings) and chairman Li Ka-shing are known locally as the most astute of investors. Aside from its phenomenal property portfolio in Hong Kong, where it has developed one in every seven private residences, its track record of strategic investments is second to none. From humble beginnings as a plastics manufacturer, the group has acquired assets ranging from telecoms and power plants to life sciences, and now controls Hong Kong-listed entities with a market capitalisation of HK$785bn (US$101bn) at...

IFR Asia reviews 2011 in charts Please click on the arrows to scroll through the graphics published during 2011 in IFR Asia.

No stranger to the top of the league tables, UBS showed no signs of resting on its laurels in Australia’s equity capital markets. It brought innovative deals to the market, executed trades flawlessly, and showed the guts to hard underwrite transactions even in challenging markets. “We continued to dominate Australian equity capital markets by bringing more issuers to the market over the review period than any other bank, using a range of equity structures,” said Simon Cox, managing director and head of ECM syndication at UBS Australia. The bank...

A central character in recent Chinese accounting issues is a man called Carson Block, who founded a research firm and investment manager called Muddy Waters. The name does not come from the blues singer, but a Chinese expression – muddy waters make it easy to catch fish. In other words, there are opportunities to make money when things are opaque. A “strong sell” call Block made on Sino-Forest on June 2 set in motion its share-price collapse and subsequent investigations and lawsuits. Block does not pull his punches. The report, issued at a...