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Sep 16, 2015

BOC Aviation seeks $500 mln in Asia’s first aircraft securitisation-sources

SINGAPORE, Sept 16 (Reuters) – Singapore-based BOC Aviation
Pte Ltd is looking to raise at least $500 million in Asia’s
first asset-backed securitisation by an aircraft lessor, tapping
into growing demand for aviation assets, people familiar with
the matter said.

The transaction could see BOC Aviation sell a portfolio of
24 aircraft and their associated operating leases, in return for
a fee to service the planes, said the people, who did not want
to be identified as details of the deal are not public.

Sep 4, 2015

CIMB seeks bids for Southeast Asia insurance distribution: sources

SINGAPORE/KUALA LUMPUR (Reuters) – Malaysian lender CIMB Group Holdings (CIMB.KL: Quote, Profile, Research, Stock Buzz) has invited bids from insurers for an agreement to distribute their general insurance products in four Southeast Asian markets, a deal that could fetch it about $400 million, people with direct knowledge of the matter said.

Malaysia’s No. 2 bank has hired JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) to advise it on the deal, which is expected to draw interest from companies including Australia’s QBE Insurance Group (QBE.AX: Quote, Profile, Research, Stock Buzz), Tokyo Marine Holdings Inc (8766.T: Quote, Profile, Research, Stock Buzz), France’s AXA (AXAF.PA: Quote, Profile, Research, Stock Buzz) and Italy’s Generali (GASI.MI: Quote, Profile, Research, Stock Buzz) among others, the people said.

Sep 1, 2015

Olam gets new backer as Mitsubishi spends $1.1 billion on 20 percent stake

SINGAPORE (Reuters) – Mitsubishi Corp’s decision to spend $1.1 billion for one fifth of Olam International is a key vote of confidence that will allow the Singapore agri-trader to exploit M&A opportunities thrown up by the slump in the global commodities market.

The deal will also help Olam, whose accounting practices were attacked in 2012 by short seller Muddy Waters before it was rescued by Singapore state investor Temasek, make greater inroads into Japan while gaining a hand in building businesses in Africa.

Aug 31, 2015

BOC Aviation taps cash-rich Japan banks for $300 mln loan

SINGAPORE, Aug 31 (Reuters) – Singapore-based BOC Aviation
Pte Ltd has finalised a $300 million syndicated loan with 18
Japanese banks in an opportunistic move ahead of an expected
rise in U.S. interest rates, the CEO of Asia’s No. 2 aircraft
lessor said.

The unsecured financing was closed with the Japanese banks,
led by Development Bank of Japan, Robert Martin told Reuters in
an interview on Monday after the lessor reported a 5 percent
rise in net profit after tax to a record $171 million.

Aug 28, 2015

Olam gets new backer as Mitsubishi spends $1.1 bln on 20 pct stake

SINGAPORE, Aug 27 (Reuters) – Mitsubishi Corp’s
decision to spend $1.1 billion for one fifth of Olam
International is a key vote of confidence that will
allow the Singapore agri-trader to exploit M&A opportunities
thrown up by the slump in the global commodities market.

The deal will also help Olam, whose accounting practices
were attacked in 2012 by short seller Muddy Waters before it was
rescued by Singapore state investor Temasek, make greater
inroads into Japan while gaining a hand in building businesses
in Africa.

Aug 28, 2015

Mitsubishi Corp takes 20 percent stake in Singapore agri-trader Olam

By Anshuman Daga and Saeed Azhar

(Reuters) – Singapore’s Olam International Ltd (OLAM.SI: Quote, Profile, Research, Stock Buzz) said Japanese trading house Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz) will buy a 20 percent stake in the agri-trader, valuing it at about $5.5 billion.

Olam, controlled by Singapore state investment company Temasek Holdings [TEM.UL], said it would issue 332.7 million new shares to Mitsubishi at S$2.75 per share, amounting to about 12 percent of its total capital.

Aug 27, 2015

Mitsubishi Corp to buy at least 10 percent of Temasek-controlled Olam: sources

SINGAPORE (Reuters) – Japanese trading house Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz) will buy a stake of at least 10 percent in agri-trader Olam International Ltd (OLAM.SI: Quote, Profile, Research, Stock Buzz) in a deal worth $500 million or more, people familiar with the matter said.

Reuters earlier reported that the Singapore-based firm was set to announce a strategic partnership with a Japanese peer, after Olam, majority-controlled by state investor Temasek Holdings [TEM.UL], halted trading of its stock on Thursday.

Aug 26, 2015

China firm baulks at $8.8 billion price tag for BOC bank unit sale: sources

SINGAPORE/HONG KONG (Reuters) – Chinese investment firm Yue Xiu has effectively pulled out of a deal to buy a unit of lender BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research, Stock Buzz), put off by the $8.8 billion asking price amid a sharp stock market downturn, people with knowledge of the matter told Reuters.

Yue Xiu did not submit a bid to buy Hong Kong-based Nanyang Commercial Bank (NCB) by a Tuesday deadline, the people added. Reuters had previously reported that the firm, part of the provincial Guangzhou government, was one of three short-listed bidders for the bank.

Aug 26, 2015

China firm baulks at $8.8 billion price tag for BOC bank unit sale: sources

SINGAPORE/HONG KONG (Reuters) – Chinese investment firm Yue Xiu has effectively pulled out of a deal to buy a unit of lender BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research), put off by the $8.8 billion asking price amid a sharp stock market downturn, people with knowledge of the matter told Reuters.

Yue Xiu did not submit a bid to buy Hong Kong-based Nanyang Commercial Bank (NCB) by a Tuesday deadline, the people added. Reuters had previously reported that the firm, part of the provincial Guangzhou government, was one of three short-listed bidders for the bank.

Aug 26, 2015

China firm baulks at $8.8 bln price tag for BOC bank unit sale-sources

SINGAPORE/HONG KONG, Aug 26 (Reuters) – Chinese investment
firm Yue Xiu has effectively pulled out of a deal to buy a unit
of lender BOC Hong Kong Holdings Ltd, put off by the
$8.8 billion asking price amid a sharp stock market downturn,
people with knowledge of the matter told Reuters.

Yue Xiu did not submit a bid to buy Hong Kong-based Nanyang
Commercial Bank (NCB) by a Tuesday deadline, the people added.
Reuters had previously reported that the firm, part of the
provincial Guangzhou government, was one of three short-listed
bidders for the bank.

    • 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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