Asean

The Republic of Indonesia is seeking bank proposals for a new dollar sukuk, with plans of returning to the Islamic finance market nearly a year after it priced a record dual-tranche bond.

Dasin Retail Trust has thrown open books to its S$146m ($102m) listing in Singapore, kicking off the southeast Asian IPO market for 2017.

Goldman Sachs’ ECM team in Hong Kong has shrunk, with the departure of the co-head of ECM syndicate for Asia Pacific ex-Japan.

The Indonesian government has cut its business ties with JP Morgan, following the bank’s decision to downgrade the country’s stocks in November.

Raja Teh Maimunah Raja Abdul Aziz is set to join Malaysia’s AmBank Group as CEO of its investment bank, according to sources close to the matter.

BDO Unibank has fixed the terms for its Ps60bn ($1.2bn) rights issue, marking a rare — and large — appearance in ECM from the Philippine lender.

Credit Suisse has rejigged its Singapore country management team with the appointment of a new chief executive, deputy CEO and branch manager, all effective from January 1.

Natixis has beefed up its aviation finance division with a number of senior appointments in Singapore and London, citing “robust growth for the business line" as the reason behind the developments.

Dasin Retail Trust could be the first out of the gate with a decent-sized southeast Asian IPO this year, with books slated to launch as early as this week.

ANZ and CIMB have both revealed plans to sell their respective stakes in Shanghai Rural Commercial Bank (SRCB) and Bank of Yingkou, as part of strategies to focus on their core businesses.

Fitch has revised Indonesia’s outlook to positive from stable, citing a combination of factors including low government debt burden, favourable growth prospects and limited exposure to banking sector risks.

ECM activity in Asia has slowed to a trickle in the week before Christmas, but investors still have something to chew on courtesy of two real estate investment trusts in southeast Asia.