Capital markets news | Tue 2 Apr 2024

Equity

• M&A Securities underwrites Sin-Kung Logistics’ ACE Market IPO Edge Star NST Mail
• Mavcap aims to raise VC funding value to USD1.4b by 2030 Edge Star NST Mail
• Foreign selling of Malaysian equities rose 39% to RM435.1m last week Edge Star NST Mail
• Cybersecurity platform Rubrik files for US IPO Edge
• Trump Media shares plummet 21% days after debut Edge
• Thailand’s biggest crypto exchange hiring advisers for 2025 IPO Edge
• India, South Korea and Japan to see more IPOs while China stalls Edge
• Billions flood active ETFs in hunt for cheap developing stocks Edge Star
• Singapore depository receipts for 5 Thai companies listed on SGX Star

Debt

• Kapital DX launches RM150m blockchain sukuk Star
• Short-term interbank rates close steady on BNM operations Mail
• GGV Asia eyes expansion into private credit after split with US Star
• World Bank approves USD750m climate change loan to Colombia Mail

Mergers and acquisitions

• Berjaya completes acquisition of Four Seasons Yokohama land Edge NST
• UEM calls off tender to sell CIMA, considers partial sale Edge
• BHIC’s sale of BNS to MOF extended again for a month Edge NST
• Betamek buys tuner-and-stereo maker Sanshin for RM13.44m Edge Star NST
• HSS Engineers buys 12% of Indonesia’s PT Oriental Star
• Gadang gets 1 month extension for 8.53ha Kwasa Damansara land payment NST
• Increased investor interest spur property deals particularly for hotels NST
• Directions issued for Grab’s aborted purchase of Foodpanda Edge NST
• 7-Eleven International completes AUD1.71b purchase of 7-Eleven Australia NST

Projects and business

• AZRB bags RM316m Istana Abu Bakar renovation contract Edge Star NST Mail
• EC opens 2,000MW LSS5 up for bidding Edge Star
• Trans Borneo Railway project hasn’t been offered to any party Edge
• Kerjaya Prospek gets RM33.2m piling job in Andaman Island Edge Star NST
• MISC signs charter contracts with QatarEnergy for 3 LNG carriers Edge Star
• MPOB and IBG Manufacturing commence biofertiliser trial Edge NST
• Petronas begins construction of 3^rd FLNG Star NST
• Citigroup cut US tech banker jobs during broad reorganization Edge
• Rakuten jumps as it considers combining financial units Edge

Economy and market news

• World Bank maintains growth forecast at 4.3% this year Star Mail
• Slight moderation in health of manufacturing sector Star Mail
• Year-to-date air passenger traffic rises to 15.3m in Feb Star
• AI impact on Malaysian firms’ workforce size NST
• US payroll rise set to hit 200k for 4^th month Star
• Promoting financial mechanism in green energy Star
• China’s industrial upswing is latest sign of its economic recovery Star
• China power firms expand renewables footprint Star
• Gold hits record high as US inflation data cements Jun rate cut bets Star Mail
• French and Italian inflation keep ECB on path to lower rates Star
• Fertility startups in Japan step in as treatment demand soars Star
• Japan’s Mar factory activity shrinks at slower pace NST
• US manufacturing expands for 1^st time since Sep 2022 Mail
• Indonesia accelerates development of semiconductor industry Mail
• BOC reports 4.8% China GDP growth in 1Q, forecasts 5.1% in 2Q Mail
• Weak Asian factories take shine off China’s rebound Mail

Legal and policies

• Meridian risks trading suspension if it fails to submit annual report Edge
• Singapore’s MAS launches anti-financial crime platform with 6 banks Edge
• UK-Canada trade barriers to increase Star
• Eskom rebuts report it leads world nitrogen pollution Star
• Growing list of asset-seizure cases puts Russian tycoons on high alert Star
• China criticises US tightening of chip export rules Mail