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Singapore is busy restructuring and hopeful investment bankers foresee a rash of M&A activity this year – particularly from the country's five banks which have been ordered to divest their non-core assets within three years. Meanwhile, a flurry of activity is expected from government-linked companies as they become mean as well as lean. Fiona Haddock reports.

The Asian bond market is gearing up for on-line business. Despite the fact that the market has so far failed to take off, banks and non-bank players seem to believe that being at the front of the queue is better than waiting for the market to mature. Some big names have even gone so far as to invest in two or more Asian bond trading portals. JP Morgan is one. The bank teamed up with Bloomberg to bring JP Morgan Express (JPeX) to Asia. The portal, says the bank, is the region's first fully-automated, real time 'click and trade' on-line bond trading platform. It also has a stake in other bond portals, including Asia-BondPortal (ABP). And the bank is keen to emphasize the uniqueness of its new business. Bernhard Eschweiler, managing director at JP Morgan Chase, explains: "JP Morgan Express allows investors to enjoy instantaneous price discovery and speedy execution time. In addition, the platform trades the most liquid bonds in Asia whereas the others target illiquid bonds and just provide a kind of match making process."

The expectations of private equity investors have come down to earth with a resounding thump in the wake of the worldwide tech-stock meltdown: even the most aggressive angel funds are closely scrutinizing profit timeframes before taking the plunge. However, interest is picking up in more traditional telecoms sectors, discovers Pauline Loong.

Headhunters wield increasing power over the region's financial institutions – and our own careers. Asiamoney's first headhunters poll reveals which firms and individuals are considered to be the best in the business, and whether our respondents are happy with the services they offer. By Matthew Montagu-Pollock, Olivia Chow and Robert Law.

While telecoms providers have been marveling over the potential of 3G licences, Macquarie Bank has been quietly eyeing opportunities in a slightly different market. The bank's venture capital e-commerce incubator, eDivision, is due to launch the world's first on-line exchange for radio spectrum in 2001, known as SpectrumDesk.com. The portal aims to facilitate the secondary market in trade spectrum rights among incumbent companies in Australia, with radio frequency spectrum ranging from 500MHZ to 1.8GHz being auctioned. Explains Peter Cooper, co-founder of SpectrumDesk.com: "Spectrum Desk will operate two types of auction: a seller's auction (where spectrum is listed for sale) and a buyer's auction (where sought after spectrum is listed)." Spectrum rental and other services may follow.

Singapore is busy restructuring and hopeful investment bankers foresee a rash of M&A activity this year – particularly from the country's five banks which have been ordered to divest their non-core assets within three years. Meanwhile, a flurry of activity is expected from government-linked companies as they become mean as well as lean. Fiona Haddock reports.

The Singapore government has gone to great lengths to develop the country's bond market – in the belief that it will contribute to the longer-term liberalization of its financial markets. But there are obstacles to be overcome before the island-state's bond market is considered an attractive regional source of funds. By Fiona Haddock.

Singapore continues to keep its head above water but with total exports representing 135% of GDP the island-state remains extremely vulnerable. No better time to reach out beyond its Asean neighbours to consolidate its position within the global economy, reports Fiona Haddock.

Singapore's de facto central bank, the Monetary Authority of Singapore, is facing tough questions about the country's future. In an interview with Fiona Haddock, its deputy managing director, Tharman Shanmugaratnam, presents some of the answers.

Singapore's de facto central bank, the Monetary Authority of Singapore, is facing tough questions about the country's future. In an interview with Fiona Haddock, its deputy managing director, Tharman Shanmugaratnam, presents some of the answers.

The Singapore government has gone to great lengths to develop the country's bond market – in the belief that it will contribute to the longer-term liberalization of its financial markets. But there are obstacles to be overcome before the island-state's bond market is considered an attractive regional source of funds. By Fiona Haddock.

Headhunters wield increasing power over the region's financial institutions – and our own careers. Asiamoney's first headhunters poll reveals which firms and individuals are considered to be the best in the business, and whether our respondents are happy with the services they offer. By Matthew Montagu-Pollock, Olivia Chow and Robert Law.