Asean

The Singapore dollar bank capital market is set for a busy week with Commerzbank announcing a Basel III tier two bond on Wednesday morning. Its offering closely follows UOB’s successful tier two outing on Monday.

United Overseas Bank in Singapore has mandated joint leads for its second covered bond, and the second issue from a Singaporean borrower this year. It may issue in euros or dollars, or potentially in both currencies. Overseas Chinese Banking Corporation is expected to follow later this year.

United Overseas Bank priced a Basel III tier two bond in its home currency on Monday, becoming the first FIG to sell a Singapore dollar denominated deal in 2017. And it did it with style, achieving both the largest size and the lowest spread.

Malaysia’s Eco World International will finally open books on its MR2.5bn ($561m) IPO next month after getting two domestic funds on board as cornerstone investors.

ANZ has appointed Jennifer Kusuma as senior Asia rates strategist in Singapore, hiring her from BNP Paribas.

United Overseas Bank is marketing the year’s first Singapore dollar-denominated bond from a financial institution, while Germany's Commerzbank has also set its sights on the same liquidity pool.

PBoC opened the week with a near-300bp weakening of the dollar fix, while Rusal received the green light for its upcoming Panda bond deal, and the Shanghai-London Stock Connect is now one step closer to becoming reality.

A subsidiary of Indonesian conglomerate Lippo Karawaci is bookbuilding for a potential Rph2.45tr ($183.8m) IPO of Dire Bowsprit Commercial & Infrastructure.

The Singapore Exchange is consulting the public on whether to introduce a dual-class share (DCS) structure and if so what safety measures it should employ, it said on Thursday evening.

DBS Group Holdings has reported its lowest quarterly profit in two years, hit by a jump in provisions for bad loans, according to an announcement on Thursday.

Stock exchanges in southeast Asia are set for a busy year, as they eye a rebound in ECM activity and make plans to woo foreign issuers.

Thailand Future Fund is expected to launch the first tranche of its Bt100bn ($2.9bn) IPO in the third quarter of this year, said bankers.