Engaged minds

Treasurers need to keep a sharp eye on China’s financial regulators as they respond to changing economic fortunes and the actions of those deemed speculators. Recent changes affect treasury structures and best practice.  This workshop and disucssion take a comprehensive look at the key changes, with presentations from top corporates in the region. Take pooling. From early 2014 onwards, RMB cash pooling has been progressively liberalised until by September 2015, the procedure was accessible to most corporates who needed it. However, in January this year, the People’s Bank of China (PBOC) instructed banks that provide multinational corporations with RMB cash pooling services to limit outflows so that there are no net remittance outflows of capital. Previous regulations only limited the net inflow of RMB from overseas, with no cap on RMB outflow. The new ‘regulation’, which is oral only, has made it difficult to remit money out of Mainland China although intercompany loans ...

Brief Event Notes:  2016 debt market that has seen a number of unpredictable and volatile events - the has been stress in the commodity sector, the oil and gas, Brexit and the US elections however issuance and appetite had not dwindled until recent bond sell down post US elections.  Brexit is proving a boon for Asian local currency bond market as issuance surge in the months after the UK's decision to leave the European Union (EU). The move by India and China to further open up their respective markets to institutional investors is making headlines.  China, Indonesia and India is increasing participation for international investors - Panda, Masala, Sukuk issuance and regulatory changes. Sukuk structure and issuance for middle east markets is  a challenge given issues around cross border sales and buy back that attracts stamp duty, VAT and regulatory approvals. There is an increase in demand/enquiries on issuance from frontier markets - Myanmar, Cambo...

The International Trading Professional Conversion Programme (PCP), a manpower training programme providing opportunities for jobseekers to start a career in international trading, was unveiled today by Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills), as part of the Adapt and Grow initiative. The programme is jointly developed by IE Singapore (International Enterprise Singapore), together with the Singapore Workforce Development Agency (WDA), Singapore Management University's International Trading Institute (ITI@SMU), and the International Chamber of Commerce (ICC) Academy. International trading is the second largest contributor to Singapore. There are over 34,000 companies in the sector employing 320,000 people, which makes up 10% of the total workforce in Singapore. From now until 2020, an estimated 15,000 new jobs will be created in this sector.  For the press release, click here http://bit.ly/2ajkGx2 A panel discussion moderated by Professor Annie Koh...

https://www.gtnews.com/articles/extracting-value-from-mergers-and-acquisitions/ Extracting value from mergers and acquisitions 30 May 16  |  Author  Gopul Shah  |  Centralisation   Economy   General   Investment & Funding   Operational Risk   Risk   in Share 9     The 2008 sub-prime crisis triggered quantitative easing (QE), intensifying covenant-light lending by banks at competitive interest rates to prime-rated corporates and private equity firms. These firms invested their cash and credit hoards and undertook equity swaps – either to strengthen growth via mergers, acquisitions and alliances (M&A) or to build investments. Intense rivalry and financial clout also provoked M&A decisions at exaggerated valuations, which in recent years have strained financial performance, credit ratings and shareholder value. From 2008 through 2015, about 340,000 mega-M&A global deals – col...

Don't bring your problems home nor come back crying! Face up the world, fight your battle - do not give up easily, make it tough. Cut your positions when you are in the money, don't be arrogant! If you are loosing, cut your losses and come back another day. Go long on integrity, character, values and reputation - be prepared to walk away and cut losses when these are compromised by someome.  Life is a sport - play win, loose sportingly!  We can be the best for a period of time only; pass the baton happily.  Never underestimate anyone nor make assumptions or judgements.  Every gem has its worth and needs to be mined, sorted and polished which needs time and persistence. No one can steal character, integrity, intelligence, hardwork and passion; retaining it will help you to come back. Don't try to herd cats and never abandon a dog! Your courage, persistence, attitude  and resilience is in your mind. Be useful, relevant, hu...

Supplier financing, also known as supply chain finance or reverse factoring, offers businesses a range of benefits by helping companies and their suppliers to manage liquidity and maintain margins. This article examines how it has evolved in the Asia Pacific region. https://www.gtnews.com/articles/supplier-financing-insights-from-asia/ Supplier financing insights from Asia   in Share 2     01 Feb 16  |  Author  Gopul Shah  |  Asia Pacific   Banking   Corporate to Bank Relationships   Financial Supply Chain Regions   Supply Chain Finance Supplier financing has historically been an alternative source of financing that improved the obligor’s balance sheet at lower costs on covenant-light terms, thus optimising liquidity management. Most supplier financing is in the form of trade credit or financial lease to fund the working capital cycle or capex, while credit risk is mitigat...

Brief Event Notes: The 10th Asset ASEAN Bond Markets Summit 2015, Singapore  http://www.theasset.com/event/bond-asean Global environment ·          Embrace the new normal, global growth rate of 3% pa. Global slowdown to continues coupled with an normalised China and declining commodity prices ·         Continuing volatility and uncertainty       ·          Fundamentals continue to deteriorate across EMEA and showing signs of continuing in 2016 ·         Divergence in monetary policies of EM and DM; US interest rate hikes will require EM and EU to stimulate local economies by reducing rates ·         Most Asian (and emerging) market economies will have to restructure and open up ·         Companies will have to review functional currency think of CNY as their function...