Asean

China Jinjiang Environment Holding Co has told investors that its S$184.34m ($137m) Singapore IPO is comfortably covered, as the fixed price offering appears poised to sail through.

Oversea-Chinese Banking Corp has merged its two subsidiaries in the Mainland — OCBC Bank (China) and Wing Hang Bank (China) — in a bid to comply with the country’s single presence policy for foreign lenders.

Sona Petroleum has become the second special purpose acquisition company (Spac) in Malaysia to face liquidation after it failed to convince shareholders to approve a $25m buyout deal.

The Singapore Exchange (SGX) is planning to create a separate subsidiary that will assume all of its front-line regulatory functions, as the bourse looks to separate its commercial and regulatory roles.

Hospitality business Genting Hong Kong, which operates cruise liners, has signed a $500m borrowing to refinance debt taken for funding six vessels.

The Singapore Exchange (SGX) reopened for trading on Friday after a hardware glitch forced it to shut down for half of Thursday, in what was the longest trading disruption ever experienced by the bourse.

Yeo Hong Ping has left JP Morgan as head of Singapore investment banking to join Fullerton Financial Holdings, a subsidiary of sovereign wealth fund Temasek Holdings, according to a source with knowledge of the move.

In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.

VPBank Finance, a subsidiary of state owned Vietnam Prosperity Bank (VPBank), has hit the market for a $100m borrowing with one bank at the helm.

Singapore’s Olam International found eager investors for its $500m perpetual trade on Thursday, showing that it has successfully regained the market’s confidence following a change in shareholding structure driven by a short seller report.

The Securities Commission Malaysia (SC) has released a consultation paper seeking public feedback to improve its guidelines on real estate investment trusts (Reits), it said on Thursday.

Singapore’s Olam International is seeking investors for a subordinated dollar perpetual non call five trade, opening books on Wednesday morning with initial guidance in the 5.5% area.