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Jun 9, 2015

DBS aims for $100 bln in private banking assets in less than 3 years

SINGAPORE, June 9 (Reuters) – Singapore’s DBS Group Holdings
is aiming for a 40 percent jump in its private banking
assets to $100 billion in less than three years, fueled by the
growth of millionaires in the Greater China region and in its
home market.

DBS’s group head of wealth management, Tan Su Shan, said
Singapore’s biggest lender is generating strong asset growth in
its home market, where there are more than 100,000 millionaires,
and in China, where sectors such as technology and real estate
are adding to the millionaire population.

Jun 8, 2015

Struggling Singapore Exchange picks former banker as CEO

SINGAPORE, June 8 (Reuters) – Singapore Exchange Ltd (SGX)
appointed veteran banker Loh Boon Chye as its chief
executive to lead a revival after it was hit by falling trading
volume and technical glitches.

Loh, 51, quit as head of Asia-Pacific global markets at Bank
of America Merrill Lynch in March. He succeeds outgoing CEO
Magnus Bocker, who is leaving after five and a half years at
SGX.

Jun 8, 2015

Swiss Lombard Odier bets on tie-ups to boost Asia growth

SINGAPORE (Reuters) – Swiss private bank Lombard Odier is pinning its hopes on a string of partnerships in markets such as Thailand and Australia to accelerate growth and fend off competition from larger private banks equipped with investment banking capabilities.

The Geneva-based bank is looking forward to a potential tie-up in China after signing a memorandum of understanding (MOU) with China’s Industrial Bank (CIB) 18 months ago.

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.

    • 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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