News
State Construction's IPO the largest worldwide since 2008
The biggest in China since 2007, the initial public offering of China State Construction Engineering Corporation aims to raise as much as $7.3 billion. Pegged at $0.58 to $0.62 each, as many as 12 billion shares are intended to be sold by the housing contractor. It is the world's biggest IPO since Visa Inc. raised more than $19 billion in March 2008.
State Construction's IPO the largest worldwide since 2008
The biggest in China since 2007, the initial public offering of China State Construction Engineering Corporation aims to raise as much as $7.3 billion. Pegged at $0.58 to $0.62 each, as many as 12 billion shares are intended to be sold by the housing contractor. It is the world's biggest IPO since Visa Inc. raised more than $19 billion in March 2008.
Maybank Singapore launches new Islamic term deposit
For a minimum placement of S$10,000 or US$6887 for a 12-month tenure, clients can avail of Maybank Singapore's first Islamic term deposit. It has a minimum of S$25,000 or US$17,218 for a 3- and 6-month tenure. This deviates from the current available Islamic term deposit products in the market. For example, some products require a minimum placement of US$500,000, catering only to the high net worth segment.
BEA, Hana agree on business co-development
The beginning of long-term collaboration between BEA and Hana Bank have been formalised with a MOU. It outlines the framework for their mutually beneficial co-development of businesses in Mainland China, Hong Kong, Korea, and other key markets.
Bank of Ayudhya to acquire indirect AIG subsidiary
Bank of Ayudhya came to terms with the American International Group to acquire 100 percent shares of CFG Services Company Limited. The transaction, subject to the approval of the Bank of Thailand and BAY’s shareholders, is expected to be completed by the end of September 2009.
ACLEDA Bank heats up relocations, expansions
ACLEDA Bank's Svay Rieng Branch is the latest to be relocated in accordance with the company's relocation and expansion plan.
Bank of Ayudhya close to acquiring GE Money Thailand
Bank of Ayudhya has reached an in-principle agreement with GE Capital for the purchase of GE Money Thailand. The proposed transaction is subject to various regulatory, corporate and shareholder approvals, as well as the completion of a definitive agreement. If closed, the transaction would represent an investment of approximately Baht 13.75 billion or approximately US$391 million subject to closing adjustment.
Standard Chartered HK first in 2-way RMB trade
Standard Chartered Bank Hong Kong has completed the first cross-border trade settlement transactions in RMB. This is following the official signing of the pilot programme with Bank of China Shanghai and Bank of China Hong Kong.
BOC conducts first renminbi trade transaction in HK
Bank of China HK Limited conducted the first RMB remittance transaction in Hong Kong, which was made for the Shanghai Electric Hong Kong Co. Ltd.
Hang Seng signs renminbi deal with 2 banks
Hang Seng Bank signed an agreement with Bank of China (Hong Kong) on renminbi settlement and clearing services for cross-border trade.
Siam Commercial Bank to offer govt savings bonds
SCB takes part in the government's economic action plan by offering government savings bonds on 13 to 17 July and 20 to 21 July.
HSBC first to settle cross-border renminbi trade
HSBC, in cooperation with Bank of Communications or BoCom, became the first foreign bank to settle a cross-border trade in renminbi.
Standard Chartered among first banks in renminbi cross-border trade
The Standard Chartered Bank Hong Kong signed the agreement for the implementation of Renminbi cross-border trade settlement pilot scheme with Bank of China.
Hong Kong boosts role as renminbi centre for China
Hong Kong banks will encourage customers engaged in trade between Hong Kong and Mainland China to settle trade transactions in renminbi.
Binh Duong branch expands HSBC’s reach in Vietnam
HSBC Vietnam opened its first regional branch in Vietnam in Binh Duong—its first full service branch in operation outside Hanoi and Ho Chi Minh City.
KEB, Samsung strengthen cooperation in acquisitions
Korea Exchange Bank wants to enhance its competitiveness in mergers and acquisitions and in acquisition financing through partnership with Samsung Securities Co.
RCBC expansion hinged on acquiring mid-sized banks
Rizal Commercial Banking Corporation hopes to have 400 branches the soonest possible time by acquiring medium-sized banks.
Krung Thai Bank pursues nationwide ATM expansion
Krung Thai Bank is going to expand ATM installation points to facilitate the clients nationwide including the four southern-most border provinces.
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