Asean

The Monetary Authority of Singapore (MAS) published a paper on banks’ underwriting and corporate lending businesses on Monday. While the central bank did not observe a deterioration in underwriting standards, it cautioned the country's lenders about the increasing use of working capital and bullet loans.

The financial services arm of US automaker Ford has picked two banks to arrange a potential bond denominated in Singapore dollars.

Australian energy firm AusNet Services started attracting bids for a 60 non-call 5.5 year subordinated offering on Monday. The hybrid issuance is denominated in Singapore dollars and marks the company’s first outing in the currency.

Ranhill Holdings launched its MR760m ($181m) IPO on Monday morning, with the Malaysian utility firm finally deciding to go ahead with a one-day bookbuild for the float.

Eco World International, which dropped plans for a special purpose acquisition company IPO in 2015, is seeking to raise $500m with a listing by the middle of this year, said sources.

In an unusual move, Malaysia’s Ranhill Holdings may shorten bookbuilding for its MR807.5m ($190.96mm) IPO to just one day, as volatile market conditions have made it impossible to find the right window.

The Singapore Exchange (SGX) has put in a non-binding bid to acquire London-based Baltic Exchange, the global hub for trading and settlement of physical and derivative shipping contracts.

TCC Group has invited banks to pitch for a $3.5bn financing to support its acquisition of a stake in retailer Big C Supercenter. Bankers are welcoming the deal as it provides an opportunity to book Thai assets following a lull in foreign currency loan activity from the country. Shruti Chaturvedi reports.

The Asian debt capital market did not have an easy 2015 with numerous macro and political headwinds causing a fall in new issuance. While jittery conditions are here to stay, Clifford Lee, head of fixed income for DBS, told GlobalCapital Asia that his business is well positioned to combat the volatility.

CLIQ Energy is set to be the first Malaysian special purpose acquisition company (Spac) to be liquidated after the regulator rejected its request for more time to make a qualifying acquisition.

When I was a banker dazzling clients with my handsome good looks, I was never one to read too much into a bank’s financial results.

Export-Import Bank of Korea demonstrated its sophistication in the bond market on Wednesday with what market participants believe is the first single tranche dollar bond to be listed in both Singapore and Taiwan. Kexim’s success is set to encourage more high quality foreign issuers to follow in its footsteps.