Singapore

The Singapore Exchange (SGX) has formed a securities industry working group that will look into ways to improve the market, two months after suffering its worst ever trading disruption.

The recent decision by the Singapore Exchange’s listings committee to give the green light to dual-class shares has received the usual jibes, with some contending that the move is coming far too late. But this is the big change that market participants have been calling for — even if they don’t know it yet.

Bank of Tokyo-Mitsubishi UFJ’s head of loan syndications for southeast Asia is set to leave by the end of the month, according to sources.

In this round-up, a third batch of free trade zones (FTZs) get set to be rolled out soon, Hong Kong RMB deposits reach a three-year low, and the RMB qualified foreign institutional investor (RQFII) scheme adds two in Singapore. Plus, a recap of GlobalRMB's stories this week.

Singapore is pushing ahead with plans for a dual class share structure, giving it an edge over Hong Kong for the next big technology IPO. But markets watchers warn that progress will take time.

Investors had ample opportunity to indulge in bank capital credits this week, with United Overseas Bank sealing a $600m additional tier two offering on Wednesday, just a day after DBS’s landmark AT1 dollar note.

A senior banker in the Asia Pacific financing division of Credit Suisse has stepped into a newly created position at the bank.

DBS Bank sealed a landmark $750m additional tier one (AT1) bank capital deal on Tuesday, marking not just its first dollar AT1 but also the first from a Singaporean lender. Despite the lowest ever coupon globally for this asset class, investors feasted on the credit, reports Addison Gong.

JP Morgan has lost Singapore-based Chetan Singh to UK insurer Aviva, where he will lead mergers and acquisitions globally.

Just a day after DBS sealed a $750m deal from a Basel III compliant additional tier one note, the bank capital market has seen some fresh action with United Overseas Bank eyeing a tier two offering.

The Singapore Exchange has received the go ahead from its listing advisory committee to allow companies to float using a new structure, in an effort to deepen the city-state’s capital markets.

DBS Bank is all set for its debut additional tier one bank capital offering in dollars, having found solid demand from investors on Tuesday.