Singapore

Waste to energy firm Jinjiang Environmental is planning an IPO in Singapore to raise up to $500m in the first half of the year, according to sources close to the transaction.

Barclays beat a hasty retreat this week from the bulk of its investment banking operations in Asia, shuttering offices in multiple countries and slashing hundreds of jobs amid a wider global cull in costs and personnel. It did not pull any punches, with the cuts stretching across the equities, loans and bonds products. John Loh reports.

Four banks have rolled out a S$1.75bn ($1.22bn) five year financing for a subsidiary of Singapore’s Universal Terminal.

Maybank is understood to be hiring the former head of Royal Bank of Scotland's Asian loans team in a senior position, according to two sources.

Citi’s Asia Pacific franchise posted a solid set of numbers in 2015, which regional CEO Francisco Aristeguieta is keen to continue in a volatile 2016, according to an internal memo seen by GlobalCapital Asia.

The former head of Asia Pacific loan markets at Royal Bank of Scotland is expected to join Maybank next week, according to two sources.

Barclays is pulling out of the cash equities business in Asia Pacific as the bank stages a total exit from a number of countries in the region including Taiwan and Korea.

Tata Steel's $1.5bn refinancing has been launched into general syndication after a senior phase that began in early December.

Financial advisory firm Rothschild has made a senior appointment to its southeast Asia team with Henry Ho joining as non-executive chairman.

Baker & McKenzie.Wong & Leow has strengthened its DCM franchise by hiring Pallavi Gopinath Aney in Singapore.

In this round-up, China's RMB trade settlement touches a new high, Hong Kong RMB clearing grew by 30% in 2015, South Korea's RMB deposits shrank by 75% over the year, Singapore plans closer cross-border RMB co-operation with China, and several Belt and Road initiatives were announced. Plus, a recap of GlobalRMB's top stories this week.

Standard Chartered has revealed the new management structure of its global capital markets team following a highly publicised restructuring last year. Leading the revamped capital markets unit is Henrik Raber, who told GlobalCapital Asia this week that he is confident the bank will be able to stand strong amid changes. Rev Hui reports.