Asean

Indonesia’s Sinar Mas Group is planning to float its power assets on the Singapore Exchange (SGX) through a potential $800m IPO, according to a source familiar with the matter.

Banks are yet to reach a unanimous decision on relaxations sought by Royal Industries Indonesia, which defaulted on the first principal repayment of a dual tranche loan signed in 2015. All lenders have to grant approval for the changes to be implemented.

Southeast Asian companies have provided plenty of M&A financing opportunities to banks this year, partly making up for the disappointing corporate loan volumes from the region. Large firms in the region are still flush with cash, giving loans bankers hope that event-driven activity will continue next year, writes Shruti Chaturvedi.

Singapore Exchange has completed its takeover of the Baltic Exchange in London.

Chinese property company Zhongshan Dasin Holdings is raising funds worth $419m in two currencies and multiple tenors.

A subsidiary of Malaysian telecommunications company Axiata Group, which approached the loan market for $100m in June, is overhauling and increasing the financing to $400m to fund potential acquisitions.

Zhongshan Dasin Holdings Co is planning to float a real estate investment trust on the Singapore Exchange via an IPO that could be worth around $400m, according to a source familiar with the matter.

Indonesian television broadcaster MNC Sky Vision has cut its latest fundraising to $170m — the second time it has reduced the deal size. The loan, which had been in general syndication since late June, attracted three commitments from retail lenders.

Kasikorn Asset Management broke new ground last month when it became the first Thai entity to attain a renminbi qualified institutional investor (RQFII) licence. In an exclusive interview with GlobalRMB the CIO of KAsset, Navin Intharasombat, said this is more than just a symbolic move as it is also the first opportunity for Thai-domiciled funds to invest in China directly.

Bank Negara Malaysia (BNM) is looking to build out local payments and investment infrastructure to make the country’s financial markets fully RMB-capable, Adnan Mohamad Zahid, assistant governor, said in a recent speech.

Fast food operator QSR Brands is seeking an IPO to raise more than $500m in Malaysia next year, mandating three local and two international banks.

Bank of America Merrill Lynch's Peter Guenthardt and Chris Gammons are exchanging roles in Asia, with Guenthardt assuming leadership of southeast Asia and Gammons taking over global capital markets.