Capital markets news | Mon 1 Apr 2024

Equity

• Northeast files for ACE Market IPO to fund new RM50m factory Edge
• MKH Oil Palm begins taking orders for RM155.43m IPO Edge NST Star
• KWAP emerges as anchor investor for Yinson’s private share placement Edge NST Star
• LYC Healthcare unit files preliminary document for SGX listing Edge NST Star
• Syngenta withdraws China IPO application after 3-year wait Edge

Debt

• Property developer China Vanke plans to cut debt, boost cashflow Edge Star
• Attestor backs Signa Prime restructuring with EUR100m loan Edge
• Saks Fifth Avenue flagship appraised at USD3.6b Edge
• Korean banks to compensate investors for China-linked notes Edge
• China’s Big Five lenders post shrinking margins, warn of property risks Edge

Mergers and acquisitions

• Signature gets takeover offer from Chin Hin at 84 sen Edge
• HSBC completes sale of Canadian unit to RBC NST Star
• Wanda to cede control of mall unit in USD8.3b deal Edge
• Japanese banks less reluctant to finance hostile takeovers Edge

Projects and business

• Govt offers Gamuda’s consortium works on 1^st segment of Penang LRT Edge
• Sabah state govt issues initial notification letter for Project Oriole Edge Star
• Green power programme seen to generate RM2.4b EPCC jobs NST
• China’s Taobao working with startup on deliveries by reusable rocket Edge
• Amazon bets USD150b on data centres required for AI boom Edge

Economy and market news

• Malaysia’s official reserve assets at USD114.28b at end-Feb NST Mail Star
• Maintenance staff shortage could clip aviation industry’s wings Mail
• Thailand takes first step to legalise casinos to aid economy Edge
• South Korea’s semiconductor output rises by most in 14 years Edge
• China’s Mar factory activity expands for first time in 6 months Mail
• US monthly inflation slows, consumer spending surges Mail
• Chile to double its lithium output to avert risk of substitution Star
• Fed’s balancing act could see Jun rate cut Star

Legal and policies

• FGP Ventures fined RM25k over preference shares offer Edge
• SC issues revised guidelines on conduct for capital market intermediaries Edge Mail Star
• Aras Niaga sues Kedah govt for RM310m Mail
• China’s Country Garden delays publication of 2023 financial results Edge
• US updates export curbs on AI chips and tools to China Mail
• IMF urges tighter Swiss regulation after UBS takeover of Credit Suisse Mail
• China will further enhance capital account opening Star