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Talk about a growth story. If you're tired of investing in companies with uncertain prospects and vague business plans, try investing in death. You can't get much more certain than that. NV Multi became the first undertaker in southeast Asia to secure a stock market listing in August when it launched on the Kuala Lumpur stock exchange. It opened strongly at M$4.50, above an offer price of 3.30, but closed at 4.04 after an active day's trading.

After high-profile failures to secure regional acquisitions this year, Singapore Telecom has had better luck in India. A US$400 million investment has brought the company a 20% stake in Bharti Telecom and 15% in Bharti Televentures – the largest ever foreign investment into India's telecommunications sector, and the biggest ever Singaporean investment in India. SingTel, which pulled out of India's telecoms sector in the late 1990s, appears to have struck at the right moment this time around. Within two weeks of its investment decision, the government announced the opening of domestic long-distance telecoms business to private participants. The investment has revived interest in India's telecoms sector, which has been depressed due to uncertainty on regulatory issues. It also reflects a growing interest among major Asian telecommunication companies in India, among them Hutchison Whampoa.

One of Singapore's strongest and most influential issuers has completed a successful pair of bond issues off the back of a US$2 billion debt issuance programme established in July. The US$500 million global bond and S$600 million local bond issues from the Port of Singapore Authority (PSA) in July both present useful benchmarks. PSA, wholly owned by Temasek Holdings, the investment arm of the government of Singapore, is the owner and operator of one of the world's largest and busiest container ports. It contributes 2.9% of Singapore's GDP and holds an Aa1/AAA rating; its business actually grew during the Asian crisis.

It boasts a total of four small listed companies, is only open every other weekday, and the trading rules changed twice in its opening week. But let's not mock Vietnam's new stock exchange: it's a landmark that it exists at all. You can argue about the date, but it is fair to say it has taken at least six years for the Securities Trading Centre – located in Ho Chi Minh City – to open its doors to investors.

Videsh Sanchar Nigam Ltd (VSNL), India's monopoly player in the international telephony market, celebrated the country's Independence Day in New York when its shares were listed on the New York Stock Exchange on August 15. This is the first time that an Indian state-run company has listed its shares on a US market. VSNL did so by converting 95% of its global depositary receipts into American depositary receipts. GDR holders account for 30% of VSNL shares while the government holds 52%. The rest is widely held in the domestic market. Bank of New York is the depositary bank.

Ventures trading Asian bonds online believe that their systems, BondsInAsia and Asiabondportal, will bring liquidity and transparency to the region – and therefore increase levels of issuance. Institutional investors will need some convincing. By Fiona Haddock

After porkbellies, bandwidth

After porkbellies, bandwidth

Projections for the number of online brokers in Asia – particularly Hong Kong – are mind-boggling. Can there possibly be a future for so many?

It is an unthinkable task. But a full recovery for Indonesia will not be complete without the restructuring of a staggering US$100 billion of private sector debt. It will take years and may never be completed, but there have been steps forward. By Maggie Ford

Macroeconomic outlook

Macroeconomic outlook