Singapore

Singapore’s DBS has become the latest foreign bank to receive approval for a majority-owned securities joint venture (JV) in China, as the country continues to open up its financial markets.

Singapore has been a front-runner when it comes to moving away from Libor to a new benchmark, with its regulators, borrowers and banks playing an active role in preparing the market. The rest of Asia’s loan market should pay attention.

Credit Suisse has appointed Allan Chu as its new head of technology, media and telecom (TMT) for Asia Pacific, succeeding Alain Lam, who has moved to Chinese technology company Xiaomi Corp.

Singapore’s agribusiness company Wilmar International has raised a S$200m ($146m) bilateral loan from DBS using the country’s new interest rate benchmark.

JP Morgan has made three senior changes to its equity research team in Asean.

Compart Systems, a high precision metal components maker, has returned to the loan market to refinance an old borrowing from 2016, which was used to support its buyout by Platinum Private Equity.

DBS has hired Abhishek Jain from Goldman Sachs to join its mergers and acquisition team.

US food and commodities firm Archer-Daniels-Midland Co has tapped the equity capital markets for the first time in more than a decade, using a concurrent block of Wilmar International shares and an exchangeable bond — with the same underlying stock — to raise $850m. Jonathan Breen reports.

Is the southeast Asian loan market set for a revival? Early signs are positive as borders start to open up and Covid-19 infection cases stabilise, leading to more enquiry from borrowers.

Singapore fintech BondEvalue launched BondbloX Bond Exchange this week, which claims to be the first blockchain-based exchange in the world, with the maiden trade executed on a bond from commodities giant Olam.

Singapore Exchange (SGX) revealed a new suite of Asian equity derivatives this week, as it gave investors a look at what its strategy after winding down its high profile licensing agreement with MSCI will be.

Deutsche promotes Elalingam to IB coverage job — JPM hires Aus head of financial sponsors