Asean

Philippine property developer SM Prime Holdings has started talks with lenders about a new facility to replace a $270m loan sealed in 2011.

Singapore’s largest bank, DBS, has expanded its international footprint to Australia with the launch of a Sydney branch this week.

Bank of Tokyo-Mitsubishi UFJ has put Sanjeev Kumar at the helm of its new event finance team, created to serve the financing and investment needs of its corporate clients across Asia ex-Japan and Oceania.

Cigarette maker Philip Morris flagged off pre-deal investor education for an up to Rph26.70tr ($1.92bn) follow-on transaction in its Indonesian subsidiary HM Sampoerna on September 2, with the process set to run for two weeks.

Jiangxi Jiangling Chassis Co’s IPO on the Singapore Exchange (SGX) is off the table, with the S$49m ($35m) transaction falling victim to the global sell-off in equity markets that took hold last week and saw investors running for the hills on all things China.

Nomura has appointed Chee Pin Lee as the head of financial products and solutions for wealth management, Asia ex-Japan, in what is a newly created role at the bank.

Hong Kong-listed HNA International Investment Holdings has announced plans for a HK$2.97bn ($383m) rights issue that will hit the market in October.

CIMB Thai Bank is gearing up for a Bt3.69bn ($104m) seven-for-40 rights issue that is set to hit the market in October.

The governments of Indonesia and Russia both signalled earlier this week that they are considering issuing renminbi denominated bonds. If the plans go ahead, these will be the third and fourth RMB deals from a foreign sovereign after the UK and Mongolia governments. However, FX volatility means now is not the best time to pull off a RMB deal.

Global equity and debt markets rallied on Tuesday, while volatility subsided, after the People’s Bank of China cut its one year lending rate. But for hard hit emerging markets, more pain could be on the way.

Several former bankers from Royal Bank of Scotland have joined new institutions recently, as the UK firm continues to dismantle a large part of its Asia business.

Szekely departs StanChart HK DCM – CBA boosts Asia loans – Capital Markets Malaysia gains new chief – China Renaissance hires new M&A co-head