Malaysia

Fitch has downgraded Malaysia for the first time since the Asian financial crisis, slashing the sovereign rating by one notch to BBB+ due to the Covid-19 crisis and political uncertainty.

Malaysia’s RHB Banking Group has made two senior appointments at the firm.

Hong Kong’s securities watchdog has fined Goldman Sachs $350m for regulatory failures in its work on bonds issued by the scandal-hit Malaysian state investment fund 1MDB, part of a multi-billion-dollar settlement with global regulators.

Malaysia’s Sunway Real Estate Investment Trust (Reit) pocketed MR710m ($171.2m) in fresh equity this week from a follow-on offering of new units.

Malaysia’s Sunway Real Estate Investment Trust (Reit) has raised MR710m ($171.2m) from a follow-on offering of new stock.

Top Glove Corp, the world’s largest rubber glove maker, is considering a dual primary listing on Hong Kong’s stock exchange.

Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years.

Telecom operator Robi Axiata has won approval from Bangladesh’s securities regulator to list for Taka5.2bn ($61.9m), making it the country’s largest IPO.

Chinese delivery company Yunda Holding Co made its debut in the dollar market on Wednesday, raising $500m.

Moody’s Corp has acquired a minority stake in credit rating agency Malaysian Rating Corp (MARC), giving the US firm additional access to Malaysia’s domestic bond and sukuk markets.

Taipei-listed Eternal Materials Co has mandated Taipei Fubon Bank for a loan to support its business in Malaysia.

Malaysian sovereign wealth fund Khazanah Nasional has pocketed MR735.7m ($168.6m) from the sale of a stake in Telekom Malaysia, after boosting the size of the trade.