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May 20, 2015

AirAsia loyalty programme in stake sale talks – sources

HONG KONG/SINGAPORE, May 20 (Reuters) – Malaysian airline
AirAsia Bhd’s loyalty programme is in talks with
private equity investors about selling a minority stake, which
could value the business at about $330 million, people familiar
with the matter told Reuters.

AirAsia BIG, the loyalty programme owned by Asia’s biggest
budget airline and Malaysia’s Tune Money International, could
raise about $100 million by selling about a 30 percent stake,
the people said on Tuesday, declining to be identified as the
discussions are confidential.

May 19, 2015

AirAsia looks to sell stake in loyalty programme-sources

HONG KONG/SINGAPORE, May 19 (Reuters) – Malaysia’s AirAsia
Bhd is in talks to sell a minority stake in its
loyalty programme joint venture to private equity firms, in a
deal that could value the business at about $330 million, people
familiar with the matter told Reuters.

AirAsia BIG, the loyalty programme owned by Asia’s biggest
budget airline and Malaysia’s Tune Group, could raise about $100
million by selling about a 30 percent stake, the people said.

May 8, 2015

Noble Group re-admitted to Platts’ oil pricing process -sources

SINGAPORE, May 8 (Reuters) – Commodity trader Noble Group
has been re-admitted to the trading processes used to
set global oil prices by reporting agency Platts, after having
been barred from full participation in April, according to two
people familiar with the matter.

Noble, the Singapore-listed merchant that has been battling
criticism of its accounting practices this year, was barred from
acting as a “market maker” – actively offering both bids and
offers to facilitate trading – in Platts’ half-hour price
assessment process known as Market-on-Close (MOC).

May 5, 2015

Noble Group Q1 profit slumps, disclosure levels improve

SINGAPORE, May 5 (Reuters) – Noble Group, under
scrutiny for its accounting methods, provided more disclosures
about its fair value accounting after reporting a decline in
quarterly profit, but the move was unlikely to immediately
soothe worried investors.

At its earnings call late on Tuesday, Chief Executive Yusuf
Alireza gave an upbeat view on the outlook for Asia’s biggest
commodity trader by sales but highlighted challenging conditions
in markets including that for energy coal.

Apr 21, 2015

Moving HQ to Singapore makes sense for Standard Chartered: Aberdeen’s Young

SINGAPORE (Reuters) – Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) has a strong business case to move its headquarters from London to Singapore and save millions in taxes as, unlike HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz), it doesn’t have a banking network in the UK, Aberdeen Asset Management said.

“It’s a far clearer business decision for Standard Chartered as really a far purer emerging market bank with no banking network in the UK, no banking network in Europe,” Hugh Young, managing director of Aberdeen Asia Management Asia, told Reuters in an interview on Tuesday.

Apr 21, 2015

Moving HQ to Singapore makes sense for StanChart – Aberdeen’s Young

SINGAPORE, April 21 (Reuters) – Standard Chartered
has a strong business case to move its headquarters from London
to Singapore and save millions in taxes as, unlike HSBC
, it doesn’t have a banking network in the UK, Aberdeen
Asset Management said.

“It’s a far clearer business decision for Standard Chartered
as really a far purer emerging market bank with no banking
network in the UK, no banking network in Europe,” Hugh Young,
managing director of Aberdeen Asia Management Asia, told Reuters
in an interview on Tuesday.

Apr 21, 2015

Aberdeen, Blackrock flag risks in frothy Chinese stock markets

SINGAPORE, April 21 (Reuters) – Aberdeen Asset Management’s
head of Asian operations warned on Tuesday that Chinese money
was moving “a bit like a casino” in domestic stock markets,
while BlackRock called on China to reform its capital markets
further to avert boom and bust scenarios.

China stocks have jumped nearly 80 percent since
November to trade near seven-year highs. On Monday, Shanghai
Stock Exchange trade surpassed 1 trillion yuan ($161 billion)
for the first time, making the bourse the world’s biggest in
terms of turnover ahead of the New York Stock Exchange.

Apr 20, 2015

Affinity Equity hires Credit Suisse’s Asia M&A co-head – sources

SINGAPORE, April 20 (Reuters) – Private equity firm Affinity
Equity Partners has hired Ronnie Behar, a senior Asia-Pacific
M&A executive at Credit Suisse, as its Southeast Asia
head, sources said, highlighting a flurry of changes at major
investment banks.

Behar, who has been the Swiss bank’s co-head of M&A in the
region since 2011, has worked on several major Southeast Asian
deals in the past, such as the power asset sales of Singapore
state investor Temasek Holdings.

Apr 17, 2015

Shareholders overwhelmingly back embattled Noble Group’s accounts

SINGAPORE, April 17 (Reuters) – An overwhelming majority of
Noble Group Ltd’s shareholders approved its latest
annual accounts, providing a measure of backing to the
commodities trader as it battles allegations of improper
accounting made by some research firms.

The resolution to approve its financial statements for 2014
was supported by 99.92 percent of votes cast at Noble’s annual
shareholders’ meeting in Singapore on Friday, which Reuters
attended.

Apr 16, 2015

Seeking an edge, short-sellers turn to behavioural analysis

SINGAPORE, April 16 (Reuters) – When Muddy Waters unveiled a
short position on Noble Group last week, it didn’t
just scrutinise the commodity trader’s accounts. It also hired a
behavioural analysis firm run by former CIA staff to analyse how
Noble’s executives talked on a recent earnings call.

This type of analysis is the latest unorthodox research
method used by short-sellers and independent research firms to
boost the impact of reports they issue that challenge companies’
accounting methods.

    • 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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