Singapore

The Singapore Exchange (SGX) reopened for trading on Friday after a hardware glitch forced it to shut down for half of Thursday, in what was the longest trading disruption ever experienced by the bourse.

Yeo Hong Ping has left JP Morgan as head of Singapore investment banking to join Fullerton Financial Holdings, a subsidiary of sovereign wealth fund Temasek Holdings, according to a source with knowledge of the move.

In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.

Singapore’s Olam International found eager investors for its $500m perpetual trade on Thursday, showing that it has successfully regained the market’s confidence following a change in shareholding structure driven by a short seller report.

Singapore’s Olam International is seeking investors for a subordinated dollar perpetual non call five trade, opening books on Wednesday morning with initial guidance in the 5.5% area.

EC World Real Estate Investment Trust has opened books on its S$350.7m ($260.1m) listing in Singapore, as investors continue to flock to the relative safety of Reits and amid a hunt for yield.

Global Logistic Properties this week became the first international corporate to publicly issue a Panda bond, successfully closing a Rmb1.5bn ($224m) dual-tranche offering on Monday.

Singapore-listed Ezion Holdings is planning to sell up to S$141.3m ($104.3m) worth of stock through a rights issue at a subscription price of S$0.29 apiece, according to a filing with the Monetary Authority of Singapore on Monday.

A diverse group of issuers headed to the dollar debt market on Tuesday, with a Chinese local government financing vehicle, a Singaporean real estate firm and a South Korean telephone company vying for investor attention.

The Hong Kong unit of Global Logistic Properties has launched on Monday what market participants are calling the first public Panda bond from an international corporate.

Asia’s equity capital markets had a ghastly first quarter before making a slow turnaround, but market watchers are calling for more from the second half of the year. Safe bets such as real estate investment trusts are expected to be hot, while insulated regions such as south and southeast Asia are likely to be a growing source of business. Jonathan Breen reports.

The Singapore Exchange’s electronic bond trading platform, SGX Bond Pro, is planning to expand into Asian local currency notes later this year. While the initial stage of expansion will be in markets closet to home, the exchange’s head of fixed income trading, Tsai Li Renn, told GlobalRMB that linking up with China could also be on the horizon.