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Flurry of China small developers listing debt on HK board, with offers of high yields

At least eight mainland developers have filed or plan to file for initial public offerings in Hong Kong – but in the debt market, where they hope to entice investors with high yield offerings.Most are small-cap property stocks, hardly the darlings of the equity market in Hong Kong. But their high-yield bond offerings – some at 9.1 per cent – can attract investors with high-risk appetite, according to interviews by the South China Morning Post with industry insiders and a review of historical… Source link

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CICC sponsors receive slap on wrist from watchdog for rule violation while advising tech board listing applicant

Two investment bankers from China International Capital Corp have received a warning from the securities watchdog after making changes to the sales prospectus of a company they were advising on its listing on the new technology board.The China Securities Regulatory Commission meted out the administrative punishment to Wan Jiuqing and Mo Peng after the Shanghai Stock Exchange spotted the case, the regulator said on its official microblog on Tuesday night.Shanghai’s new tech board vital to China… Source link

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Singapore 

Two travellers from Singapore die of natural causes on board Royal Caribbean cruise, Singapore News

SINGAPORE – Two travellers from Singapore, who were on a ship that left the Republic on Monday (May 13), died of natural causes while on a cruise in nearby waters. The passengers – aged 61 and 75 years old – were on cruise ship Voyager of the Seas, operated by Royal Caribbean Cruises. A spokesman from Royal Caribbean Cruises (Asia) said two “guests from Singapore died of unrelated natural causes”. “As per our standard procedure, we have informed the respective families and we are providing them assistance during this difficult…

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Slump in stock market threatens new Shanghai tech board, may even lead to postponement

A sell-off in Chinese stocks threatens to take the fizz out of one of the country’s biggest capital market reforms in years.Sentiment has soured just as China plans to open a Nasdaq-style board, expected as soon as next month. After surging at the start of the year, the Shanghai Composite Index has tumbled 11 per cent from an April high. It suffered its biggest loss since 2016 on Monday after US President Donald Trump threatened to impose higher tariffs on Chinese imports. Worst still, given… Source link

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Stephen Moore was Donald Trump’s latest choice to join Federal reserve board. Now he’s withdrawn

FILE – In this June 20, 2014 file photo, Herman Cain, CEO, The New Voice, speaks during Faith and Freedom Coalition’s Road to Majority event in Washington. President Donald Trump said Wednesday, April 10, 2019, that Cain is a “wonderful man,” but it will be up to him to decide whether to go forward with a nomination to the Federal Reserve’s seven-member board. (AP Photo/Molly Riley, File) Source link

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Investors hunt for gold ahead of debut of China’s Nasdaq-like technology board

Mainland investors are racing to buy mutual funds linked to Shanghai’s new Nasdaq-style technology board, in the expectation that these funds will have privileged access to upcoming IPOs, potentially enjoying handsome returns upon public trading.As of Tuesday, the first batch of seven funds slated for the Technology Innovation Board were heavily oversubscribed by investors, raising a combined 100 billion yuan (US$14.86 billion), according to the statements by the asset management firms… Source link

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Fosun biotech unit Henlius has no plans for Shanghai tech board listing and is focused on Hong Kong IPO

Shanghai Henlius Biotech, a spin-off of Hong Kong and mainland China-listed Fosun Pharmaceutical, said it had no immediate plans of listing on Shanghai’s upcoming Technology Innovation Board, as it focuses on an initial public offering in Hong Kong.The Shanghai-based biotechnology company applied to the Hong Kong stock exchange for a listing in December 2018, and is bucking the trend when it comes to a flotation on mainland China’s new Nasdaq-style market.As of Friday, 93 companies had… Source link

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Chinese start-ups join rush to launch IPOs on Shanghai exchange’s new tech board

China’s upcoming Nasdaq-style market has attracted 89 companies seeking to raise funds through an IPO just a month after the Shanghai Stock Exchange began accepting listing documents.These technology firms plan to raise more than 90 billion yuan (US$13.4 billion), exceeding the 87 billion yuan raised by 57 companies on the Shanghai exchange last year.The companies that have applied to raise funds fall into the categories of basic science, biotechnology, robotics, new materials, aerospace and… Source link

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With Dyson on board, Singapore pitches hi-tech credentials to woo other electric car makers to set up shop

Following Dyson’s plans late last year to manufacture its first electric car in Singapore, the city state is now in talks with other makers of green vehicles to set up shop on the island.Singapore is pitching its connectivity to global markets through free-trade agreements, its highly skilled workforce and stringent protection of intellectual property, which is critical for the industry, according to the government agency set up to attract investments to the country.“Hopefully they won’t be the… Source link

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Singapore 

Singapore Tourism Board suspends Asian Travels Network licence for breaching travel agent regulations, Singapore News

SINGAPORE – The Singapore Tourism Board (STB) has suspended the licence of local travel agent Asian Travels Network for breaching industry regulations. The suspension, which took effect last Thursday (April 4), means that the agency will not be allowed to accept new travel bookings. However, it is still required to fulfil any existing obligations to its customers. In a statement on Wednesday, the STB said Asian Travels Network had failed to submit its audited statement of accounts within six months of the end of its financial year. The STB said…

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