Asia Pacific

Uzbekistan Special Report Interview with Elmurodov Kholik, First Deputy Chairman of the Board, Uzbekistan National Power Networks

In an interview with GlobalMarkets, Golib Kholjigitov, head of Uzbekistan’s PPP Development Agency, lays out the advantages that working with the private sector can bring in terms of lower costs and more efficient delivery of much-needed infrastructure projects

New Uzbekistan under the leadership of His Excellency President Shavkat Mirziyoyev is transforming in many ways. Economic reforms, including state-owned enterprise reforms and liberalisation, are among the key pillars of current structural transformations in Uzbekistan.

Property manager Sichuan Languang Justbon Services Group has raised HK$1.59bn ($202.3m) from its IPO, after a surge of demand from institutional and retail investors, according to a source close to the deal.

China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.

DBS has hired Deutsche Bank’s former Indonesia country head to run its institutional banking group in the southeast Asian country.

Powerlong Real Estate Holdings pulled off a top-up placement on Monday night, raising HK$791.6m ($100.9m) after pricing the deal toward the bottom of guidance.

High yield issuer Kunming Municipal Urban Construction Investment & Development Co priced its inaugural dollar bond on Monday, raising $300m at a yield that was comparable to some higher rated local government financing vehicles (LGFVs).

Hong Kong’s stock exchange has awarded China Feihe, a baby milk formula producer, its final stamp of approval to list.

S&P Global Ratings has downgraded Jain Irrigation Systems to selective default, following a similar move by two domestic rating agencies last week.

Shanghai Sinooil Energy Holding Hong Kong, a subsidiary of state-owned China Energy Reserve and Chemical Group, has defaulted on a $400m offshore loan.

Sinopharm raised Rmb2.8bn ($396m) from a red Panda bond on Saturday. The state-owned traditional Chinese medicine company switched to a shorter tenor to achieve tight pricing.