Hong Kong SAR

With result season now in full swing after the Lunar New Year holidays, now is perhaps an opportune time to reflect on the fact that Hong Kong remains one of the few major markets around the world (and in Asia in particular) not to require companies listed on its Main Board to publish quarterly accounts. With talk of a third board to attract smaller companies with lower listing requirements, and recurring issues with disclosure (or lack thereof) by smaller listed businesses, a change in the rules is probably long overdue, writes Philippe Espinasse.

HSBC booked the lion’s share of its 2015 earnings from Asia, with the region contributing to more than 80% of the group’s profits before tax as the bank continues to look eastward for growth. But there are challenges ahead, with the firm under investigation by the US Securities and Exchange Commission (SEC) for its hiring practices.

United Asia Finance has launched a HK$600m ($77m) four year fundraising into syndication. The Sun Hung Kai-backed company is offering a high all-in compared to the sub-100bp being paid by other Hong Kong blue chip names.

A senior syndicate member of UBS's Asia debt capital markets team has left the firm.

Hong Kong’s MTR Corp has a reputation for recalibrating pricing in the region’s syndicated loan market and its latest HK$15bn ($1.9bn) dual-tranche facility is no different. The company has returned to the market after a gap of nearly 10 years, but its long absence is unlikely to pose a challenge, writes Shruti Chaturvedi.

Award ceremonies are a time to drink, catch up with old friends and brag about the success of your business and your team. And for old retirees like me, it appears to be the time to put your foot into your mouth.

Deutsche Bank and Australia and New Zealand Bank have lost senior members of their teams in Asia.

A senior banker from Deutsche Bank’s Asia leveraged finance team has left the firm, according to sources.

Hong Kong’s MTR Corp is seeking a loan of HK$15bn ($1.9bn) in two tranches and has picked a quartet of banks to helm the trade.

Chinese aluminium manufacturer China Hongqiao Group has wrapped up its HK$3.8bn ($487.8m) rights issue, with shareholders signing up for roughly 80% of the offering.

Hong Kong property developer Lai Sun Development has closed a HK$924.3m ($119m) one-for-two rights offering that was just short of 70% subscribed.

Union Medical Healthcare has kicked off pre-deal investor education for its $100m-$150m IPO in Hong Kong, which is set to go on for the next two weeks, according to sources.