Capital markets news | Wed 7 Aug 2024

Equity and property markets

  • Elridge Energy launches RM203m ACE Market IPO Edge NST Star
  • 4 of Southeast Asia’s top 10 IPOs in 1H2024 were in Malaysia NST
  • Biggest margin debt unwind since 1999 spurred Taiwan stock rout Edge
  • BOJ under fire for rate-hike timing after market meltdown Edge
  • Lucid gets USD1.5b lifeline ahead of electric SUV rollout Edge Star
  • Global market bloodbath more to do with end of cheap funding Mail
  • Volatility quants threaten USD170b selling spree Star
  • Private equity flops leave institutional investors vulnerable to sell-off Star

Debt and money markets

  • Johor Plantations’ sukuk assigned AA1, P1 ratings RAM Edge
  • Konsortium ProHAWK’s AA2 sukuk rating affirmed RAM
  • PBOC asked rural banks to limit risk in bond bets Edge
  • US banks report best loan demand in 2 years Edge
  • Jolt in credit fear pushes borrowers to sidelines Star

Mergers and acquisitions

  • Chin Hin buys engineering, project management firms for RM51m Edge NST Star
  • Keyfield to buy another AHTS vessel, secures USD10m contract Edge NST Star
  • KPJ not in rush to inject assets into Al-A’qar Healthcare REIT Edge Star
  • Singapore addresses concerns about USD1.7b Allianz deal Edge

Projects and business

  • Decision on NIISE said to be made soon Edge
  • KWAP pledges RM20b to transition assets, emphasising ESG Edge NST Star
  • West Coast highway 93% completed, costs RM6.87b up to Mar NST
  • TNB to expand European RE assets Star
  • AWC wins RM10m apartment job Star
  • Singapore’s Sembcorp to invest USD528m in green energy drive Edge
  • US awards SK Hynix USD450m for chips packaging facility Edge
  • Nvidia’s next-gen AI chip rollout slowed by engineering snags Edge

Economy and market news

  • Malaysia’s services PPI up 0.7% in 2Q Star
  • Selangor eyes RM500b economic activities in 3-4 years NST
  • Selangor International Business Summit attracts RM12.2b potential deals Edge
  • Selangor’s semiconductor park offers salary on-par with Singapore Edge
  • Malaysia sets up chip-design hub to boost semiconductor industry Star
  • Selangor eyes another chip design park as Puchong site fully occupied Edge
  • Carbon credits set to become increasingly important Star
  • Singapore’s retail sales dip in Jun, reversing May’s growth Star
  • Philippine CPI quickens in Jul, rate cut less likely Edge
  • Japan’s real wages rise for first time in 27 months Star
  • Australia central bank rules out near-term rate cut on inflation risks Star
  • Goldman sees carbon market heading for historic tipping point Edge Star
  • US Federal Reserve should cut rates swiftly, recession or not Star
  • AI responsible for 10-35% revenue generation across all industries NST
  • Employees more comfortable with generative AI NST

Legal and policies

  • Guidelines on data centre power, water usage by 3Q Edge Star
  • Confidence in private sector SDG efforts waning Edge
  • Indonesia renews textile import duties to curb Chinese goods Edge
  • Chinese firms stockpiling high-end Samsung chips before US curbs Edge
  • US court rules that Google has an illegal monopoly on search Edge Mail
  • SunPower in bankruptcy, sells USD45m assets via stalking horse bid Star
  • Struggling Thames Water faces USD133m fine over sewage spills Edge
  • Top UK lenders could be wound down in a crisis without bailouts Edge

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