Asean

Mainboard IPOs on the Singapore Exchange must allocate at least 5% to retail investors, starting in May, the bourse said this week.

RHB Bank’s Asia head of institutional equities Lena Yong has parted ways with the Malaysian bank following a restructuring of its wholesale equities division.

Singapore’s status as the go-to hub for Asia’s real estate investment trusts appears to be under some threat, with two Asian issuers taking their business to Hong Kong and Indonesia in recent weeks. But concerns that Singapore could lose its Reit crown are overblown — the asset class is set to remain well under its dominion.

Singapore-listed commodities trader Noble Group returned to the international bond market on Monday after a hiatus of nearly three years. Despite the continuous noise around the credit, investors appear to have put the company’s past behind them as they piled into the $750m deal.

Singapore-listed Ascott Residence Trust has kicked off a fully underwritten renounceable rights issue to raise S$442.7m ($313.7m), as it seeks to buy its first property in Frankfurt.

Natixis is rebuilding its DCM team in Asia Pacific following some high profile departures since last year.

Lenders that have chipped in for Bank Negara Indonesia’s $750m facility can expect to be scaled back by close to 50% of their original commitments, said bankers close to the trade. Allocations are due to be announced in the next few days.

Indonesia’s Bowsprit Asset Management has extended the bookbuilding period for the potential Rph2.45tr ($183.4m) IPO of Dire Bowsprit Commercial & Infrastructure, according to a source at the asset manager.

Singapore-listed commodities company Noble Group, ICBC International and China SCE Property Holdings were out of the gates on Monday morning for new dollar outings, coming before a widely expected Federal Reserve rate hike this month.

Indonesian palm oil seller Royal Industries has failed to repay the first and second installments of a $405m loan raised in 2015, and has now proposed a restructuring.

A Singapore-based banker who worked on south and southeast Asian loan syndications for Sumitomo Mitsui Banking Corp has left, according to a source.

Indonesian telecom infrastructure provider Tower Bersama Infrastructure has approached its relationship banks for borrowings worth $500m.