Malaysia

Bank of America Merrill Lynch has lost a member of its equity capital markets syndicate team in Hong Kong and a DCM banker in South Korea, sources said this week.

The Securities Commission Malaysia is getting a new deputy chief executive, with Ahmad Fairuz Zainol Abidin to step into the role at the start of April.

Ranhill Holdings has finally sealed its IPO of MR386.78m ($93.76m) at the bottom of the range after delaying the pricing decision from Tuesday and dropping the secondary offering.

Malaysia-listed WCT Holdings is looking to spin off its property into a real estate investment trust and list its construction arm, with both IPOs likely to come to the market next year.

Malaysian telecommunications company Axiata Group has mandated three banks for a quick return to the Islamic bond market.

Malaysia’s CIMB has named Kong Sooi Lin as CEO of its investment bank, a role she had covered since the group chief executive left the position earlier this year.

Giles Ong, regional head of investment banking and advisory at Maybank, has resigned and plans to leave the firm in April.

Malaysia’s special purpose acquisition companies (Spacs) have gone from showing promise to dead in the water, with the first liquidation of one of the vehicles last week. It’s time for market participants to make up their minds about the asset class.

Malaysia’s CIMB has named Kong Sooi Lin the CEO of its investment bank, a role she had filled in the interim after the bank’s group chief executive left the position.

The renminbi held a steady second place as the currency of choice for payments between Malaysia and China and Hong Kong, as the usage of dollar continued to dominate, according to the latest RMB Tracker from Swift.

Ranhill Holdings launched its MR760m ($181m) IPO on Monday morning, with the Malaysian utility firm finally deciding to go ahead with a one-day bookbuild for the float.

Eco World International, which dropped plans for a special purpose acquisition company IPO in 2015, is seeking to raise $500m with a listing by the middle of this year, said sources.