News

Singapore Exchange Limited has reported a net profit 31.2 percent lower compared to F2008's $444.3 million when global stock market indices peaked, resulting from a decline in securities market revenue and stable revenue.

AmInvestment Bank Berhad launches its new Base Prospectus, along with the introduction of its AmWarrants Portal and a pair of Put and Call Warrants over Hong Kong Exchanges & Clearing (HKEC).

Hang Seng Index ETF and Hang Seng H-Share Index ETF have been approved by the Financial Supervisory Commission, Executive Yuan, Taiwan for listing applications with the Taiwan Stock Exchange.

Strategic Investment Services (SIS) funds of ipac will now be available in Singapore dollar class units and no longer just in US currency, catering to clients who prefer to have their investment portfolios reported in local dollars.

Russell Investments, the global investment company with regional head offices initially established in Sydney and Tokyo, has celebrated a decade of operations in Asia after setting up its first Asia ex-Japan office in Singapore in 1999.

And it never ends. Just a week after major banks announced they would make good on some Lehman mini bond losses, it has emerged that a 77-year-old lady lost $32 million buying products from a couple of UBS Private Bankers.

Schroder ISF Asian Convertible Bond has reached $100 million in assets under management, following the collaboration with Fisch Asset Management announced in November 2007.

The Tata Power Company Limited, India's largest integrated private power company, has priced an equity offering in the form of Global Depository Receipts for $335 million to fund capital expenditures of existing and future projects. Each GDR will represent 1 equity share, of a nominal value Rs.10 per equity share of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at $22.577 as per relevant pricing guidelines for GDRs. The issue was priced on 21 July 2009 and listing is expected to take place on or about 27 July 2009.

Singapore Exchange Limited (SGX), joined by a group of its Trading Members, has launched the Association of Financial and Commodity Traders (Singapore) or AFACT and aims to double the number of traders to 1,500. AFACT intends to create a unified platform to represent the interests of professional derivatives traders with SGX membership.

Morgan Stanley has received approval for a Primary Dealership (PD) license from the Reserve Bank of India, a significant step in further building out the Firm's fixed income sales and trading platform and capabilities in India. The license, which has been awarded to the Firm's PD entity, Morgan Stanley India Primary Dealer Private Limited (MSIPD), will allow Morgan Stanley to participate in Government of India bond auctions, as well as to make markets and trade in Indian government bonds and other government liquidity instruments.

OCBC Malaysia will grow its bancasurance business by distributing Great Eastern Life Assurance developed products through its 29 conventional banking branches. This is made possible by the partnership formed between the two groups in the area of bancassurance following the recent liberalisation of the financial services sector in Malaysia. This move is also in line with the Group's focus on seeking stronger growth opportunities and deepening market penetration in the country under its New Horizons II strategy. The range of products selected for distribution will be assessed to ensure that they meet the different lifestyle and life stage needs of the Bank's retail customers. For a start, OCBC Malaysia will distribute MaxMoney Plus and MaxMoney Back which are two insurance products from Great Eastern Life Assurance Malaysia. "By leveraging on our strategic relationship with Great Eastern Holdings to cross-sell products that meet the diverse needs of our customers, we have successfully increased our market share in Singapore over the years, to achieve and maintain our leading bancassurance position," said Mr Andrew Lee, OCBC Bank's Head of Global Consumer Financial Services. "We launched bancassurance in Malaysia in 2003. Following the implementation of the new liberalisation rules, we can now work with our subsidiary Great Eastern in Malaysia to grow our bancassurance business across the causeway. We look forward to transferring successful business models and product solutions from Singapore to Malaysia. Our customers in Malaysia will soon have access to a wide array of bancassurance products and services that meets their needs," he added.  

BlackRock reports Q2 2009 net income of $218 million or $1.59 per diluted common share due to improving momentum in the business.

Singapore Exchange Limited (SGX) will introduce SGX Equity Research Insights (SERI), a new research scheme to better address the needs of its listed companies and their investors. Replacing the current Research Incentive Scheme (RIS), SERI will be utilised on 20 October 2009.

Union Bank, N.A., a consolidated subsidiary of Mitsubishi UFJ Financial Group and The Bank of Tokyo-Mitsubishi UFJ formerly known as Union Bank of California, N.A., began operating with the new name and new logo on 20 July.

Bank of Ayudhya approved Ayudhya Fund Management Company Limited's move to acquire 100 percent of PrimaVest Asset Management Company shares. The transaction is expected to be completed by July 2009 subject to approvals of Securities Exchange Commission and relevant authorities.

MUFG Capital Finance 9 Limited and BTMU Preferred Capital 9 Limited will become Specified Subsidiaries (Tokutei Kogaisha) of MUFG. The two special purpose companies will increase their stated capital.