Asean

Cemex Holdings Philippines has begun gauging investor interest in its IPO, which could raise up to $500m, sources close to the deal told GlobalCapital Asia.

The southeast Asian high yield market saw some long overdue activity this week, with Indonesia’s Sri Rejeki Isman raising $350m from a liability management exercise. With volatility and low commodities prices forcing high yield issuers from the region to stay away from the market this year, Sritex’s success has now flung open the door to new issuance, writes Narae Kim.

Indonesia’s Solusi Tunas Pratama is looking to replace its dollar liabilities with local currency borrowings in a bid to curb risks from FX volatility. The firm is just one of a list of borrowers considering a similar approach. But the change in tack has caused some concern among foreign lenders, which would struggle to compete with local banks. Shruti Chaturvedi reports.

Kitty Leung, who worked in the loan syndication department at Rabobank in Hong Kong, has left the Dutch lender.

Malaysia’s Khazanah Nasional sold nearly 2% of its stake in IHH Healthcare this week, raising MR828.7m ($200.5m) from what is the sovereign wealth fund’s first block trade in the company’s shares since its listing in 2012.

Indonesia's Mitra Pinasthika Mustika Finance has launched the retail phase of a $100m borrowing, in what is the company's second outing in the syndicated loan market.

Nomura is setting up an office in Singapore to provide advisory services for funding infrastructure projects in Asia, focusing initially on southeast Asian countries.

Dominique Jooris has left Goldman Sachs to become chief executive of Bank Pictet & Cie in Singapore.

Khazanah Nasional has raised MR828.7m ($200.5m) by selling nearly 2% of its stake in IHH Healthcare, in what was the Malaysian sovereign wealth fund's first block in the company since its listing in 2012.

Law firm Norton Rose Fulbright has hired a derivatives and structured finance to its Singapore office as partner.

The Singapore Exchange’s offer for the Baltic Exchange is the latest in a long line of moves by the Asian bourse to search for new ways to grow. But buying the Baltic Exchange won't be a solution, and the SGX is better off looking for opportunities closer to home.

Property developer Frasers Centrepoint is likely to begin bookbuilding on Friday for a potential S$900m ($651.5m) real estate investment trust IPO in Singapore, a source close to the deal told GlobalCapital Asia.