Asean

Morgan Stanley has made two senior appointments in its southeast Asia investment banking team, according to a memo seen by GlobalCapital Asia.

Singaporean hard-drive manufacturer MMI International is seeking a $205m loan, mainly to refinance an old borrowing sealed in 2015.

Union Bank of the Philippines (UnionBank) has won stock exchange approval for a rights issue of up to Ps10bn ($187.6m).

China’s foreign exchange reserves grow in July, renminbi derivatives in Singapore hit a new high as trade war escalates, official data shows a pick-up in exports from China to Belt and Road countries.

The Vietnam government is set to reduce its stake in Vietnam National Shipping Lines (Vinalines) through an IPO of at least D4.9tr ($208.9m).

Joint Stock Commercial Bank for Investment and Development of Vietnam has closed an offshore borrowing worth $150m. After the company deciding not to exercise a greenshoe option, lenders faced a large scale-back.

The Republic of the Philippines attracted more investor demand than expected on its return after eight years to the Japanese yen bond market. Its outstanding dollar bonds outperformed in secondary trading as the new deal was being marketed.

High yield property company Intiland Development flopped in the offshore market on Tuesday, failing to price what would have been its debut dollar deal.

The Philippines securities regulator is looking for public feedback on a proposed set of rules governing initial coin offerings (ICOs), a cryptocurrency-linked fundraising method that is still largely unregulated.

Four former Credit Suisse loans bankers who left the bank earlier this year have resurfaced in the market, according to sources.

Singapore’s Wilmar International has bumped up the size of its dual-tranche borrowing to $1.8bn after attracting 24 participants during syndication.

MUFG Bank has named Manoj Bhatia as head of global subsidiary banking for Asia and Oceania, effective August 1.