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* Raymond Poon, Jardine Fleming's equity syndicate head in Hong Kong, has left the bank to pursue other opportunities. Colleagues report that Poon will soon reappear elsewhere but declined to specify which bank. Rupert Fane -- who moved from the Indonesia office a few months ago -- and Vincent Tong will assume responsibility for the post and no replacement is thought likely at the present time. * UBS has announced that it will make about 145 equity research and sales staff in Asia redundant following the merger of UBS and SBC Warburg Dillon Read.

SOUTH Korea's Shinhan Bank this week drew down a $50m five month loan from Deutsche Morgan Grenfell, as the first phase of a financing backed by export trade bills. The loan is secured on export trade bills similar to those which will later provide collateral for a true securitisation. Shinhan hopes that DMG will launch the $200m to $300m deal in April, either as a bond or through one of its US and European CP conduits.

SINGAPORE bankers have welcomed recent government indications that it is seriously contemplating new guidelines aimed to encourage greater usage of the offshore debt markets by state and quasi-state owned enterprises. Backed by its Aa1/AAA rating, the city state has the highest credit profile in the region outside Japan and would prove a magnet for international bankers starved of profitable activity in the rest of the region.

JAPAN's largest consumer finance company Takefuji Corp will sell 13m shares on Monday -- 8.8% of the company -- opening the way for it to list in the first section of the Tokyo stock exchange. Swiss Bank Corporation will arrange the deal. Japanese regulations bar companies with over 70% of the shares owned by 10 related parties from being listed in the section. A total of 77% is owned by the Takei family. Although the company has not stated that a stock exchange listing is the purpose of the sale, bankers believe that to be the case.

TAIWAN's Teco Electric and Machinery Company's innovative convertible issue is set to emerge after weeks of planning. The $180m deal, with a $20m greenshoe, will be launched next week and will be only the second credit enhanced convertible from Asia to have a triple-A rating. The interesting part of the deal, according to bankers, is the convertibility option. Investors in the bonds can choose to convert to Teco shares or shares of its subsidiaries, Taian Electric and Tecom.

AUSTRALIA's Ten Holdings received government approval for its A$375m float after CanWest Global Communications agreed to make two changes to the structure of the deal. The Macquarie Bank and JB Were underwritten deal is now lodged and registered; prospectuses will be distributed on Monday. A total of 174.2m shares priced at A$2.15 will be sold with around 60% destined for institutional investors and the remainder for retail investors in Australia.

COSCO RAISED $150m from the sale of exchangeable bonds last week in a deal that -- depending which side of the market you were on -- could be said to be either well timed or disastrous. Coming at the beginning of a week in which the long predicted shake out of the Hang Seng took place, the bonds had fallen to around 96.00 yesterday (Thursday), from par at launch.

SINGAPOREAN development bank DBS this week announced the largest rights issue to date from the city state, with plans to raise S$1bn ($595m) via a one-for-five rights issue. Shares were suspended on Wednesday following the announcement, with foreign shares having closed at S$12.50 and local shares at S$8.80. The issue will be led by Jardine Fleming, with an issue price of S$8.50 for foreign shares and S$6 for local shares.

UNITED Engineers Malaysia (UEM) is believed to be preparing a high yield, asset backed deal in a bid to revive its beleaguered international standing. If completed, the deal will be collateralised by the group's toll road receivables.

* European Investment Bank Rating: Aaa/AAA

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