Singapore

Fullerton Healthcare Corp is working with the Singapore regulator to resolve issues around its S$213.3m ($154.7m) IPO, with the delay causing some investors to consider pulling their bids.

Goldman Sachs has named Raghav Maliah as head of southeast Asia investment banking, while picking Dan Swift to lead the lender’s Singapore team.

Swiss private bank Julius Baer returned to the Singapore dollar market for an additional tier one, clinching a S$325m ($235m) deal at a lower coupon than its debut one year ago. The positive outcome came despite the noise around European banks and concerns over Moody’s downgrade of the issuer’s existing subordinated notes.

A diverse group of issuers forged ahead with their respective fundraisings on Thursday, seeking everything from dollars to Singapore dollars and green debt.

Singapore-listed Frasers Hospitality Real Estate Investment Trust has raised S$266m ($192.6m) from an oversubscribed rights issue.

Fullerton Healthcare Corp has wrapped up its Singapore listing at the bottom of guidance, valuing the deal at S$213.3m ($154.7m).

The Monetary Authority of Singapore has cracked down on DBS Bank, Falcon Private Bank and UBS for breaching its anti-money laundering (AML) requirements, following an investigation into fund flows related to scandal-hit Malaysian investment fund 1MDB.

Bank of America Merrill Lynch’s head of southeast Asia equity capital markets has left the firm, amid a wider reshuffle of its Asian investment banking business that resulted in a number of departures.

DBS Asia Capital has named Anuruk Karoonyavanich as its new CEO, with the appointment effective from October 1.

Bank of America Merrill Lynch and Goldman Sachs are taking a knife to their Asian investment banking operations amid slower capital markets activity and as competition from Chinese lenders intensifies. This is just the latest in a series of culls in Asia as global banks struggle to find a suitable model. Shruti Chaturvedi reports.

Siong Ooi, who until recently was head of the Asia Pacific syndicated and leveraged finance unit at Bank of America Merrill Lynch (BAML), is understood to be heading to Bank of Tokyo-Mitsubishi UFJ (BTMU) in December, according to multiple sources.

Fullerton Healthcare Corp plans to raise up to S$270.8m ($199m) in an IPO on the Singapore Exchange, launching the deal on Thursday.