Capital markets news | Tue 13 Feb 2024

Capital markets news | Tue 13 Feb 2024

Equity

• Crest Group to list on ACE Market Edge

• Dialog deserves premium valuation above its peers Star

• Short selling is here for the long haul Star

• Reviving FGV Edge

• Goldman Sachs fund unit finds mispricing Star

• Italian luxury group Tod’s to delist from Milan stock exchange NST Mail

• Novo Holdings plans USD7b investment annually by 2030 Mail

• Temasek and Seviora raise USD173m for Asia agri-food investments Edge 

Debt

• Tex Cycle subscribes for Chin Hin’s RM10m perpetual bonds Edge

• Zecon gets RM852m facilities from Bank Pembangunan Edge

• MNRB upsizes sukuk programme to RM420m Edge

• ESG sukuk to jump from 4.3% global outstanding sukuk to 7.5% NST

• Malaysia’s foreign portfolio outflow widens to RM5.1b in Jan NST

• Israel’s credit rating downgraded to A2 with negative outlook Mail

• OpenAI’s Altman in talks to raise funds for chips and AI initiative Edge

Mergers and acquisitions

• Grab and GoTo revive merger talks Mail Edge

Projects and business

• More than 10 companies bidding for NIISe 2.0 Edge

• Foreign firms tapping into China’s emerging industries Star

• Nvidia pursues USD30b custom chip opportunity Star Mail

• SoftBank sees new-found caution as secret weapon in AI arms race Star

• JSW to set up USD5b EV projects in eastern India NST Edge

• OpenAI hits USD2b revenue milestone Edge

Economy and market news

• Malaysia’s tax collection among the lowest in the region NST

• Short-term interbank rates close steady on BNM operations Mail

• Japan earmarks USD300m to fire up chip research at home Star

• Investment banks brace for more job cuts Star

• IMF very confident on soft landing and rate cuts from mid-2024 Mail

• EU to loosen fiscal rules to cut debt and boost investments Mail

• US banking system well-capitalised despite risks Mail

• No longer fragile five as funds pile into India and Indonesia Edge

• Meta gives up seven floors of office space in Singapore Edge

• Global AI PC and smartphone shipments to total 295m in 2024 Edge 

Legal and regulatory

• EU postpones decision on proposed supply chain due diligence law Mail

• Global carbon markets hit record USD949b in 2023 Edge

• Singapore lets DBS sell properties related to money laundering case Edge

• Singapore has a dirty money problem Edge