Capital markets news | Tue 6 Feb 2024

Capital markets news | Tue 6 Feb 2024

Equity

• M&A Securities underwrites ACE Market-bound Topmix’s IPO Edge

• Chin Hin triggers MGO after raising stake in SIB Star NST Edge

• LTAT committed to ensuring fund’s long term sustainability Mail Edge

• Thai logistics group JWD to emerge as Swift Haulage’s substantial shareholder Edge

• Rubrik hopes fraud investigation of ex-employee ends before Apr IPO Star

• Watershed closes USD100m Series C funding Star

• Reddit revenue gains 20% ahead of IPO although not profitable Edge

• Hyundai explores IPO for India unit at USD30b valuation Edge

Debt

• MNRB’s and Malaysian Re’s ratings affirmed RAM Edge

• Malakoff gets Gold impact assessment for sustainable finance framework Edge

• IILM reissues USD1.05b short-term sukuk Edge

Mergers and acquisitions

• Scientex buys Muar freehold land for RM200m Star Edge

• KL Kepong to buy remaining KLK Sawit shares at RM3.42 NST

• ALX Asset doesn’t have money to buy YNH’s 163 Retail Park Edge

• Syed Mokhtar wants FGV’s downstream businesses Edge

• Fosun to sell 30% of Club Med at USD800m value Edge

Projects and business

• Coastal gets RM318.9m more Mexican contract value plus extension Star Edge

• Petronas power plant in Labuan still in preliminary stage Star Mail Edge

• KoBold open to partners for USD2b Zambian copper mine NST

Economy and market news

• Distressed Chinese developers’ projects whitelisted for loans Star

• Indonesia 2023 GDP growth slows slightly to 5.1% Star Mail

• Electrolux to shut Singapore regional HQ by May Star

• Fed will be prudent when considering rate cuts Mail

• Lower prices for export orders depress China’s manufacturing activity Mail

• Germany to give USD17b subsidies for gas power plants to use hydrogen Mail

• Economists pilloried for getting forecasts wrong Mail

• US banks see loan demand rising in 2024 Edge

• US solar boom opens USD2b Indian door to banned products from China Edge

Legal and regulatory

• SC expands categories and criteria for sophisticated investors Star NST Edge

• PJBumi auditor resigns after audit fee disagreement Star

• Court allows creditors’ compulsory liquidation application against THHE Edge

• Winding-up petition against AZRB subsidiary over outstanding debt Edge

• MACC seeks Gafung Petroleum MD for Sapura Kencana Offshore case Edge

• South Korea watchdog warns financial firms on risk management NST