Asean

Malaysia-listed WCT Holdings is looking to spin off its property into a real estate investment trust and list its construction arm, with both IPOs likely to come to the market next year.

Malaysian telecommunications company Axiata Group has mandated three banks for a quick return to the Islamic bond market.

A rarely seen product is set to return to the Asian securitization market with fixed income specialist SC Lowy and UOB Asset Management (UOBAM) gearing up for a $400m collateralized loan obligation (CLO). The transaction will be the first non-bank originated Asian CLO in years, but the structured finance community is sceptical about the market’s potential, writes Rev Hui.

The Singapore Exchange (SGX) has been one of Asia’s most proactive bourses in finding ways to improve its business, but some market participants are worried that it is out of touch. Chew Sutat, SGX’s head of equities and fixed income, told GlobalCapital Asia that there is a gap between perception and reality. John Loh reports.

Malaysia’s CIMB has named Kong Sooi Lin as CEO of its investment bank, a role she had covered since the group chief executive left the position earlier this year.

United Overseas Bank sold a landmark transaction this week, printing the first euro-denominated covered bond from Asia, and plans to become a frequent issuer in the market.

Indonesia Eximbank is asking banks for options to refinance a loan raised in 2013, with talks involving the issuance of a new loan or a bond.

Overseas-Chinese Banking Corporation will become the third issuer from Singapore to set up a covered bond programme, its head of funding confirmed with GlobalCapital’s sister publication The Cover on Tuesday. Though similarly rated to Singapore’s other two issuers, OCBC’s business model is somewhat different.

The financial services arm of US automaker Ford has launched bookbuilding for its maiden foray into the Singapore dollar bond market.

Giles Ong, regional head of investment banking and advisory at Maybank, has resigned and plans to leave the firm in April.

Rizal Commercial Banking Corp (RCBC) has doubled the size of its medium term note programme to $2bn.

Malaysia’s special purpose acquisition companies (Spacs) have gone from showing promise to dead in the water, with the first liquidation of one of the vehicles last week. It’s time for market participants to make up their minds about the asset class.