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Jul 28, 2015

AirAsia hires C.Suisse, CIMB for bond issue at associates -sources

SINGAPORE/KUALA LUMPUR, July 28 (Reuters) – AirAsia Bhd
has hired investment banks Credit Suisse and CIMB to
help the Malaysia-based budget airline raise at least $200
million in convertible bonds at its Indonesian and Philippine
associates, people familiar with the deal said.

AirAsia’s finances have come under scrutiny as amounts owed
to it by its lossmaking associates in Indonesia and Philippines
have steadily risen, burdening AirAsia’s balance sheet.

Jul 13, 2015

With new auditor, Noble seeks to move on from attacks on accounting practices

SINGAPORE, July 14 (Reuters) – Noble Group Ltd’s
hiring of a second auditor to review its accounts marked a
change of heart for a company that has defended its accounting
practices for months, but its top brass felt compelled to draw a
line under the problem, according to a person with direct
knowledge of the matter.

Hit by a critical report in February from little known
Iceberg Research and later echoed by short-seller Muddy Waters
and others, the board of Asia’s biggest commodity trader became
convinced that detailed rebuttals and reassuring words were not
enough to soothe market qualms.

Jul 7, 2015

Temasek’s portfolio jumps by a fifth to record; confident on China

SINGAPORE, July 7 (Reuters) – Singapore state investor
Temasek Holdings said the value of its portfolio jumped by
almost a fifth to a record S$266 billion ($197 billion) on the
back of a surge in Chinese bank stocks and added it was
confident in China’s long-term economic outlook.

The 19 percent gain was Temasek’s largest in five
years and reflects its investments in lenders such as China
Construction Bank and Industrial and Commercial Bank
of China as well as holdings in leading Singapore
firms. The previous year, its portfolio grew just 3.7 percent.

Jul 7, 2015

Noble Group hires PwC for new audit after attack on accounting practices

SINGAPORE, July 7 (Reuters) – Noble Group Ltd,
Asia’s biggest commodities trader, said it has hired
PricewaterhouseCoopers (PwC) to review the way it values some of
its assets – its biggest move yet to boost transparency after an
attack on its accounting practices.

Allegations by little known Iceberg Research in February
that Noble was inflating its assets by billions of dollars have
wiped 40 percent off the Singapore-listed firm’s market value. A
cut by Standard & Poor’s to Noble’s credit rating outlook last
month that cited concerns about the valuations of long-term
supply contracts has also hurt.

Jul 6, 2015

Manulife shelves $420 mln Singapore REIT IPO as markets swoon

SINGAPORE, July 6 (Reuters) – Canada’s Manulife Financial
Corp shelved its S$569 million ($420 million) IPO of a
real estate investment trust in Singapore on Monday, the first
major Asian offering outside China to be pulled due to
deteriorating global markets.

The postponement of the IPO, which had been slated to be
Singapore’s biggest in a year, came as Greeks overwhelmingly
rejected conditions of a rescue package from creditors on Sunday
and as China rolled out an unprecedented series of steps to
prevent a full-blown stock market crash.

Jun 30, 2015

Asia ex-Japan H1 deals hit record high on Li Ka-shing M&A spree

SINGAPORE/HONG KONG, June 30 (Reuters) – The volume of Asia
ex-Japan mergers and acquisitions surged to a record $640
billion in the first half, preliminary data released by Thomson
Reuters showed, driven by the deal-making spree of Hong Kong
tycoon Li Ka-shing.

Bankers said a spate of potential consumer retail deals and
the delisting of more Chinese companies from U.S. stock markets
were likely to keep them busy in the second-half.

Jun 29, 2015

Short-sellers target AirAsia amid questions over accounting

SINGAPORE, June 29 (Reuters) – Short-sellers are targetting
AirAsia Bhd amid accounting worries at Asia’s biggest
budget carrier, with its shares among the most borrowed
securities in Southeast Asia in recent weeks, data shows.

Loaned stock for Malaysia’s AirAsia rose to a high of 47
million shares on June 23 from 7 million two weeks prior to
that, according to data from financial software company SunGard
Astec Analytics.

Jun 26, 2015

IndiGo to file prospectus for $400 million float next week – sources

SINGAPORE/MUMBAI (Reuters) – India’s biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter.

IndiGo, owned by hospitality and travel company InterGlobe Enterprises, is aiming to win approval from India’s market regulator in August, before hitting the market later in the year, one of the sources said.

Jun 26, 2015

India’s IndiGo to file prospectus for $400 mln float next week – sources

SINGAPORE/MUMBAI, June 26 (Reuters) – India’s biggest
airline IndiGo is set to file a prospectus next week for a
domestic stock market listing, which is expected to raise as
much as $400 million, according to three sources with knowledge
of the matter.

IndiGo, owned by hospitality and travel company InterGlobe
Enterprises, is aiming to win approval from India’s market
regulator in August, before hitting the market later in the
year, one of the sources said.

Jun 24, 2015

SGX to invest $15 mln in tech systems after outages, halts fee hikes

SINGAPORE, June 24 (Reuters) – The Singapore stock exchange
(SGX) said on Wednesday it would invest S$20 million
($15 million) to improve its technology after suffering trading
disruptions late last year, and will not raise trading fees for
the time being.

Singapore Exchange Ltd was rebuked by the Monetary Authority
of Singapore (MAS), the city-state’s central bank and the SGX’s
regulator, over the two disruptions which were caused by a
software error and a power failure.

    • About Anshuman

      "Anshuman Daga has been with Reuters since 13 years, most of that tracking companies and equity markets. After joining in Mumbai, Anshuman did a stint in India's technology hub of Bangalore and then spent a few years covering European stock markets in London. He moved to Singapore in 2008, with a focus on news coverage of Southeast Asia and technology stories from Asia."
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