Anshuman's Feed
Dec 15, 2015

Exclusive: China’s COFCO in talks to take full ownership of Noble’s agribusiness

China’s food giant COFCO is in advanced talks to take full ownership of Noble Group’s agribusiness, three sources said, a move which would cement its newfound strength in global agriculture markets and help bolster Noble’s balance sheet.

The sources said COFCO was in talks to buy the remaining 49 percent of Singapore-listed Noble’s agribusiness for around $700-$750 million, having already acquired a 51 percent stake in April 2014 for $1.5 billion.

Dec 15, 2015

Exclusive: Malaysia’s Felda scraps $680 million Eagle High deal to rethink plan

Malaysian palm plantation operator Felda Global Ventures Holdings Bhd (FGVH.KL) has scrapped its planned purchase of a stake in Indonesia’s PT Eagle High Plantations (BWPT.JK) for $680 million, saying it needed to rethink the deal.

Felda shareholders had criticised the deal to buy a 30 percent stake in cash and an additional 7 percent by issuing new shares, announced in June, as too expensive.

Dec 15, 2015

AirAsia’s planned accounting change seen boosting transparency

* AirAsia seeks to consolidate group accounts

* Move comes six months after accounts criticised

* AirAsia shares fall as much as 7 pct on Q3 net loss (Adds analyst comments, context)

By Anshuman Daga and Praveen Menon

KUALA LUMPUR, Nov 27 AirAsia’s plans to consolidate its group’s accounts will help dispel some criticism of its financials, though struggling affiliates are likely to drag down earnings at Asia’s biggest budget carrier.

Dec 15, 2015

Singapore Exchange plans bond trading platform launch in first-quarter

Singapore Exchange Ltd (SGX) (SGXL.SI) is looking to launch a corporate bond trading platform in the first quarter of 2016 as it seeks to expand its product suite in an effort to boost revenue, its CEO said.

SGX is seeing a business opportunity in offering a platform for fixed income as regulatory changes prompt global investment banks to scale back in this segment.

Nov 6, 2015

StanChart’s global head of aviation finance departing-sources

HONG KONG, Nov 6 (Reuters) – Simon Perkins, the
Singapore-based global head of aviation finance at Standard
Chartered, is leaving the bank, people with direct
knowledge of the matter said.

The move comes days after Standard Chartered (StanChart)
announced plans to axe 15,000 jobs as part of a big
restructuring to cut costs and improve profitability in the face
of a tougher regulatory landscape.

Oct 30, 2015

Exclusive: AirAsia founder began buyout talks as share fall put loans at risk – sources

SINGAPORE (Reuters) – AirAsia founder Tony Fernandes began talks with bankers to take Asia’s No.1 budget airline private after a plunge in its stock price put $200 million worth of loans borrowed against AirAsia’s shares at risk, people familiar with the situation told Reuters.

The Malaysian entrepreneur and his business partner Kamarudin Meranun, respectively Group CEO and Chairman of AirAsia Bhd (AIRA.KL: Quote, Profile, Research, Stock Buzz), borrowed the money against their 19 percent indirect holding in AirAsia from Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) and CIMB (CIMB.KL: Quote, Profile, Research, Stock Buzz) to help fund private ventures, people familiar with the situation said.

Oct 30, 2015

AirAsia founder began buyout talks as share fall put loans at risk-sources

SINGAPORE, Oct 30 (Reuters) – AirAsia founder Tony Fernandes
began talks with bankers to take Asia’s No.1 budget airline
private after a plunge in its stock price put $200 million worth
of loans borrowed against AirAsia’s shares at risk, people
familiar with the situation told Reuters.

The Malaysian entrepreneur and his business partner
Kamarudin Meranun, respectively Group CEO and Chairman of
AirAsia Bhd, borrowed the money against their 19
percent indirect holding in AirAsia from Credit Suisse
and CIMB to help fund private ventures, people
familiar with the situation said.

Oct 22, 2015

Singapore Exchange eyeing Asian LNG benchmark

SINGAPORE (Reuters) – Singapore Exchange (SGXL.SI: Quote, Profile, Research, Stock Buzz) is planning to create an Asian benchmark for liquefied natural gas (LNG) and break a decade-long reliance on oil-linked pricing, hoping to take a greater role in an expanding spot market, a senior official said.

Spot LNG trading in Asia is set to rise as a wave of new supply comes online, but participants have few options to hedge risks amid a lack of a liquid derivatives market.

Oct 13, 2015

In metals shake-up, Noble has been selling aluminum stockpiles -sources

SINGAPORE/NEW YORK, Oct 13 (Reuters) – Noble Group Ltd’s
efforts to free up capital by reducing stockpiles of
base metals include selling off some of its large holdings of
aluminum, historically one of its biggest businesses, sources
said.

As part of a strategy to shrink its metals franchise, the
second-biggest division by revenue after energy, Noble has been
quietly selling copper, zinc and lead since July, two sources
familiar with the matter said.

Oct 9, 2015

Exclusive: StanChart CEO plans to cut about 1,000 top staff – memo

SINGAPORE/LONDON (Reuters) – Standard Chartered’s new Chief Executive Bill Winters plans to cut up to a quarter of the bank’s most senior staff to reduce costs, according to a memo sent to staff, which is likely to see about 1,000 top jobs go.

Winters said he planned to reduce the number of staff who are graded in bands 1-4 by a quarter, according to an internal memo seen by Reuters. Those bands cover bankers at director level and higher, and include about 4,000 staff.

    • 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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