Asean

Indonesia’s Summarecon Agung has pulled a planned $200m-$250m IPO of Summarecon Investment Property (SIP) at the eleventh hour to pursue a real estate investment trust (Reit) instead.

Dali Foods Group Co is expected to open books in the week of November 2 for its $1.5bn IPO in Hong Kong, after investors gave the thumbs up to the Chinese snack food maker during pre-marketing.

Singapore-based agricultural products supplier Olam International has raised a $1bn loan from a group of 19 lenders.

A three-party working group consisting of the Maritime and Port Authority of Singapore (MPA), Singapore Exchange (SGX) and Singapore Shipping Association (SSA) is seeking to turn the city-state into Asia’s hub for capital raising in the maritime sector.

Indonesia’s Trikomsel Oke looks set to miss a payment on its Singapore dollar bonds, the first such case in more than six years in the city-state. Although the move is expected to increase volatility in the short term, sources hope it will also shake up any complacency in the market, writes Narae Kim.

Seafood restaurant chain Jumbo Group has launched a S$22m ($15.75m) IPO on the Catalist exchange in Singapore, which if it succeeds will become the fourth biggest listing in the city state this year.

The central bank of Laos has rolled out a debut offshore syndication of up to $200m as it looks to diversify its funding channels. It has decided to take a strategic approach to its financing by tapping only a select pool of liquidity, writes Shruti Chaturvedi.

United Overseas Bank (UOB) recently hired Ben Chan Ho Fai as the head of RMB solutions, a new unit that the bank set up earlier year.

HSBC Global Asset Management has named Puneet Chaddha as chief executive officer of Singapore as well as head of southeast Asia.

Indonesia’s Trikomsel Oke announced this week that it won't be able to pay interest on two Singapore dollar bonds owing to financial difficulties. If it happens, it would be the first case of default in the Singapore bond market since the global financial crisis, and is expected to rock the city-state’s debt market.

Citi has hired a former Standard Chartered banker as its new chief economist for India.

OUE Commercial Real Estate Investment Trust (Reit), which is looking for a S$360m ($258m) three year loan to fund acquisitions, has launched the deal into general syndication.