Asean

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.

Lembaga Pembiayaan Ekspor Indonesia, otherwise known as Indonesia Eximbank, has announced plans to sell $500m-equivalent bonds in the offshore market this year.

In this round-up, the offshore RMB (CNH) nearly eliminates its spread with the onshore RMB, a Standard Chartered index on RMB internationalisation ends 2016 poorly, and the Hong Kong Exchange (HKEX) sees new records set in RMB futures contracts in January. Plus, a recap of our stories.

Star Energy is borrowing $1.9bn via two facilities for its acquisition of Chevron’s assets in Indonesia, as strong early interest from banks revealed plenty of available liquidity for M&A into the country. Loans bankers expect more action from the export-oriented nation, following the recovery in commodity prices. Shruti Chaturvedi reports.

Singapore Telecommunications is working with DBS, Morgan Stanley and UBS to lead the $2bn IPO of its broadband unit NetLink Trust.

Indonesian real estate developer Pakuwon Jati fed off investors’ desperation for paper, pricing a tight $250m seven non call four on Wednesday on a book more than four times subscribed.

Indonesian coal miner Bumi Resources has received the go ahead from shareholders to raise Rp35.1tr ($2.639bn) from a combination of a rights issue and mandatory convertible bonds — a move that will help it pare down debt.

Indonesia’s Pakuwon Jati was back in the international market on Wednesday after a nearly three year hiatus, looking to grab enough funds to redeem its existing 2019s.

Star Energy Geothermal has enlisted three lenders for a $660m dual tranche loan that will go partly towards funding the company’s purchase of a stake in Chevron’s Indonesian assets.