The Reserve Bank of India (RBI), in guidelines issued on Thursday, asked local banks to frame clear policies for stressed-asset sales
By Antonia Timmerman
Maskapai Reinsurance Indonesia (Marein) has announced its plan to raise $41 million from a rights offering in 2017. The company said it will sell up to 130 million new shares by June next year to strengthen its capital, according to local media reports. Merein along with Indonesia’s only other three… Read more »
Indonesia textile firm PT Sri Rejeki Isman Tbk (Sritex) through its unit Golden Legacy Pte Ltd, announced the settlement of cash tender the senior debt approximately US$180.7 million of the $270 million aggregate principal amount.
PT Pupuk Indonesia Holding Company (PIHC), a state owned fertilizer company, has unveiled its plan to raise Rp10 trillion ($735.29 million) through issuing bonds in the first quarter of 2017. Portion of the bonds proceeds will be used to refinance the company’s debts.
Indonesia’s largest telecom operator PT Telekomunikasi Indonesia Tbk (TLKM) and SK Telecom (NYSE:SKM) of South Korea, have signed a memorandum of understanding (MoU) to cooperate in new business areas including IoT, media and smart products such as Lifeware.
Noble Group Ltd. plunged the most in more than four years after Fitch Ratings Ltd. placed the company’s debt ratings on negative watch as Asia’s largest commodity trader was seen facing less financial flexibility amid a challenging market.
State-owned India Infrastructure Finance Co. Ltd (IIFCL) has asked the government to bring down its stake in the company to 51% by selling shares to strategic investors, as it aims to widen its capital base and present itself as an alternative source of finance for infrastructure developers. IIFCL, which lends… Read more »
Indonesia mobile telecom operator PT XL Axiata Tbk (EXCL) is seeking to raise up to Rp 1.5 trillion ($104.90 million) by issuing Islamic Bonds (Sukuk) this year, said the company director on Sunday. The bonds issuance is pending approval from the Financial Services Authority and the Indonesia Stock Exchange. Mohamed Adlan,… Read more »
Kuwait Finance House (KFH) is considering a sale of assets including its Malaysia unit, as the Islamic lender looks for a leaner structure by expanding its Turkey franchise, a report said. KFH is reportedly restructuring activities ahead of a planned divestment by its largest shareholder, the Kuwait Investment Authority (KIA)…. Read more »
The Bank for Foreign Trade of Vietnam, or Vietcombank, has purchased $1 billion government bonds from the local Ministry of Finance, the Saigon Times Online reported. This is the first time the Vietnamese government has sold its bonds in such a large amount and in foreign currency to a commercial… Read more »