Asean

Al-Salām Reit has begun sounding out its MR252.36m ($64.69m) IPO in Malaysia to investors, with the company’s Shariah-compliant status expected to give it some buffer against the current macro and political uncertainties plaguing Malaysian stocks.

Hong Kong-listed Chong Hing Bank is bringing a rights issue to investors as it seeks to bolster its capital position. The lender plans to issue one rights share for every two existing shares, which will raise HK$3.71bn ($478.64m).

International Container Terminal Services (ICTSI) has named three banks to lead its upcoming, benchmark sized US dollar perpetual bond.

BNP Paribas has hired an associate for its southeast Asia loans team, GlobalCapital Asia understands.

Jude Krishnan, an associate director of ECM with RHB Securities Singapore, a unit of Malaysia’s RHB Banking Group, is no longer with the firm.

Indonesia’s Bank Permata has hired a bank to work on the country’s inaugural Basel III compliant tier two capital transaction in the offshore bond market.

HM Sampoerna, the Indonesian arm of cigarette giant Philip Morris International, will go to shareholders to raise up to Rph26.70tr ($1.98bn) via a rights issue as it seeks to increase its free float.

Metro Retail shops around $123m float — Alkem Laboratories files $200m listing — CRCC High-Tech gets IPO on track

The Singapore IPO market finally has something to look forward to, after a quiet year to date, thanks to Jiangxi Jiangling Chassis, which filed its preliminary prospectus on August 12.

Myanmar has moved closer to an offshore bond issue after circulating a draft law clarifying how the sovereign can raise debt, and hiring Citi and Standard Chartered as ratings advisers. The moves have been welcomed but investors have been warned to expect a long wait before they get their hands on any deal, writes Shruti Chaturvedi.

San Miguel Corporation’s SMC Global Power Holdings Corp has mandated eight banks as the company hopes to return to the dollar bond market with perpetual subordinated notes.

Malaysia’s Hong Leong Bank has announced plans for an MR3bn ($752m) rights issue in the fourth quarter of 2015 as the lender seeks to beef up its capital buffers.