SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

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 <div class='content-caption'>Beng Kuan CEO</div>
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Convinced that the best is yet to come, banking and finance veteran Yong Jiunn Run has made it his life’s goal to achieve his optimum potential. 
"Psychologist Abraham Maslow's theory of self-actualisation argues that individuals are motivated to maximise their personal development and growth, and this concept lies at the top of the Maslow hierarchy of needs,” said the Chief Executive Officer of oil and gas solutions provider Beng Kuang Marine Ltd. 
“For myself, I continue to strive to become everything that I am capable of becoming. As Maslow said, “One's only failure is failing to live up to one's own possibilities”. I believe I’ve not realised my full potential yet.” 
A Bachelor of Arts graduate in Economics from the National University of Singapore, Yong has spent nearly three decades of his career in the financial services industry.  
He held senior management roles in enterprise and commercial banking with CIMB Bank and OCBC Bank, with oversight of operations across Singapore, Malaysia, Thailand, Indonesia and Cambodia. In June 2021, he was appointed CEO of Beng Kuang Group.  
“My banking journey has equipped me with the necessary skills to chart the Group’s turnaround strategy,” he said. “This includes shifting away from lumpy investments and piling up cash reserves to take on market and economic cycles, cultivating a strong risk management culture, as well as strengthening corporate governance in day-to-day and investment activities.” 
Founded in 1994 and listed on SGX since October 2004, Beng Kuang Group aims to be the “Preferred Partner” in providing total solutions for the marine and offshore industries. It has operations in Singapore, Malaysia and Indonesia. 
The Group’s four key business segments are: Infrastructure Engineering, Corrosion Prevention, Supply &amp; Distribution and Shipping. As a testament to its commitment to quality, health and safety, many of its subsidiaries have been accredited with the relevant ISO certifications. 
Amidst rising challenges in the oil and gas industry, the Group is focused on stabilising and strengthening its business operations, and has undertaken a strategic review of its business model. 
“Our immediate focus is on restructuring and transformation, as well as refining our value propositions,” Yong pointed out. 
“Our additional priorities are cost-cutting and deleveraging initiatives, particularly in key areas like lease rentals and loans, while focusing on monetising fixed assets and high-potential business segments to create new growth catalysts.” Signs of Recovery 
The Group is looking to revamp and divest unprofitable operations that continue to drag on its cashflow, while seeking to incubate new joint ventures, especially at its 30,000-hectare yard in Batam, to boost efficiency and asset utilisation rates. 
It will also focus its resources on high-potential business segments, such as its 51%-owned subsidiary, Asian Sealand Offshore &amp; Marine (ASOM). Specialising in asset integrity solutions, ASOM provides a wide range of on-site services such as repairs, engineering services, maintenance and decommissioning.  
ASOM’s key customers are mainly operators and asset owners of Floating Production Storage and Offloading (FPSO) platforms and Floating Storage and Offloading (FSO) vessels.  
“Developing an asset-light and service-centric approach provides greater financial flexibility, and allows us to scale promising propositions within our business model,” Yong added. 
“We’ve seen signs of turnaround with our strong revenue growth in the first nine months of 2021, which reinforces our confidence in the strategies we have implemented.” 
For 9M 2021, the Group’s revenue rose 34% to S$41.2 million, with gross profit jumping 241% to S$5.0 million and adjusted EBITDA surging 546% to S$2.5 million. With a substantial amount of fixed assets in the balance sheet, the Group registered a depreciation expense (non-cash component) of S$6.2 million over the period. It also generated a net cash inflow of S$1.9 million from operating activities during 9M 2021. 
To accelerate its growth plans and strengthen its balance sheet, the Group announced a placement exercise of 37.2 million new ordinary shares at S$0.09 apiece in October 2021 to raise gross proceeds of approximately S$3.4 million. New Growth Catalysts 
In the meantime, the COVID-19 pandemic has provided a boost to the Group’s transformation efforts, Yong noted. 
“COVID has presented us with the opportunity to rework, reposition and revamp our business model, and we’re now talking to various technology partners to improve processes, as well as reshape our core operations. These initiatives will lower our cost structure and improve our speed-to-market,” he added. 
“We’re evaluating new business ventures that are aligned with sustainability, which will provide fresh growth catalysts for the Group. We’re confident of becoming more agile, with a stronger business foundation that creates sustainable, long-term value for our stakeholders.” 
In November 2021, Beng Kuang Group unveiled a specialised dredging equipment, designed by its in-house team, for offshore tin mining activities. Installed on barges, the equipment has been tested for operational efficiency in various offshore tin mining sites in Indonesia. 
With this equipment, the Group aims to develop new value propositions for offshore tin mining activity and create new revenue streams 
“There are strong demand drivers in the global tin industry, and while there are significant tin ore deposits within Indonesia’s offshore regions, there are various operational challenges involved in such offshore mining activity,” Yong said. 
“Leveraging our technical expertise from multiple business areas, we’re excited to showcase how our specialised dredging equipment, technology and services can enable tin concession owners in Asia to gain greater access to these offshore tin ore deposits and create more efficiency in their operations.” 
Apart from building the Group’s operational resilience, Yong is also focused on its Environmental, Social and Governance (ESG) priorities.  
“As sustainability is a crucial factor in remaining competitive in today’s market, we’re determined to reduce our carbon footprint and instil sustainability awareness in all our employees,” Yong said. 
Apart from implementing initiatives such as the National Environment Agency’s “Reduce, Reuse, Recycle” programme, Beng Kuang Group continuously explores new technologies to cut energy and water consumption, as well as waste generated, during its daily operations. It also emphasises the occupational safety of its employees, and aims to achieve zero cases of work-related serious injuries or death.  
“We also work with our customers, suppliers and staff in implementing environmentally responsible measures, such as promoting e-invoice and reducing packaging wherever possible,” he added. 
At the end of the day, what inspires this 57-year-old is people - to build and nurture an expanding pool of talent for the Group’s long-term growth. 
“My passion is to create a winning team that can punch above its weight in the market. I want to establish bench strength to lead Beng Kuang Group into the next lap,” he said. “People and talents will remain key.” 
And when he is out of the office, this father of four children, aged five to 25, can be found jogging or golfing, and occasionally, indulging his love for hawker food.  
“I always tell my kids: It’s important to stay committed to your endeavours or end-game. Throughout my banking career, I’ve experienced numerous ups and downs, but I remained steadfast, and focused on my end goals,” he said. Beng Kuang Marine Ltd 
Beng Kuang Marine was founded in 1994 and has been listed on SGX since October 2004. Over the years, the Group has been striving to be the “Preferred Partner” in providing total solutions for the marine as well as offshore oil and gas industries. As a testament to its commitment to quality, health and safety, many of its subsidiaries have been accredited with the relevant ISO certifications.   Leveraging on its strong track record and established business networks, the Group continues to strategically grow its key businesses in Infrastructure Engineering, Corrosion Prevention, Supply &amp; Distribution and Shipping. 
The company website is: <a href="http://www.bkmgroup.com.sg">www.bkmgroup.com.sg</a> 
Click <a href="https://www.sgx.com/securities/equities/BEZ">here </a>for the company's StockFacts page. 
For the half year ended 30 June 2021 financial results, click <a href="https://links.sgx.com/1.0.0/corporate-announcements/SURYK1VKKYSMF7QM/679045_PressRelease.pdf">here</a>. 
 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. 
For previous editions of kopi-C: the Company brew, please click <a href="https://www.sgx.com/research-education/market-dialogues">here</a>.   
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to <a href="https://www.sgx.com/jennifer.t@sgx.com">jennifer.t@sgx.com</a>.
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    Beng Kuan CEO


Convinced that the best is yet to come, banking and finance veteran Yong Jiunn Run has made it his life’s goal to achieve his optimum potential.  
"Psychologist Abraham Maslow's theory of self-actualisation argues that individuals are motivated to maximise their personal development and growth, and this concept lies at the top of the Maslow hierarchy of needs,” said the Chief Executive Officer of oil and gas solutions provider Beng Kuang Marine Ltd.  
“For myself, I continue to strive to become everything that I am capable of becoming. As Maslow said, “One's only failure is failing to live up to one's own possibilities”. I believe I’ve not realised my full potential yet.”  
A Bachelor of Arts graduate in Economics from the National University of Singapore, Yong has spent nearly three decades of his career in the financial services industry.   
He held senior management roles in enterprise and commercial banking with CIMB Bank and OCBC Bank, with oversight of operations across Singapore, Malaysia, Thailand, Indonesia and Cambodia. In June 2021, he was appointed CEO of Beng Kuang Group.   
“My banking journey has equipped me with the necessary skills to chart the Group’s turnaround strategy,” he said. “This includes shifting away from lumpy investments and piling up cash reserves to take on market and economic cycles, cultivating a strong risk management culture, as well as strengthening corporate governance in day-to-day and investment activities.”  
Founded in 1994 and listed on SGX since October 2004, Beng Kuang Group aims to be the “Preferred Partner” in providing total solutions for the marine and offshore industries. It has operations in Singapore, Malaysia and Indonesia.  
The Group’s four key business segments are: Infrastructure Engineering, Corrosion Prevention, Supply &amp; Distribution and Shipping. As a testament to its commitment to quality, health and safety, many of its subsidiaries have been accredited with the relevant ISO certifications.  
Amidst rising challenges in the oil and gas industry, the Group is focused on stabilising and strengthening its business operations, and has undertaken a strategic review of its business model.  
“Our immediate focus is on restructuring and transformation, as well as refining our value propositions,” Yong pointed out.  
“Our additional priorities are cost-cutting and deleveraging initiatives, particularly in key areas like lease rentals and loans, while focusing on monetising fixed assets and high-potential business segments to create new growth catalysts.”  Signs of Recovery  
The Group is looking to revamp and divest unprofitable operations that continue to drag on its cashflow, while seeking to incubate new joint ventures, especially at its 30,000-hectare yard in Batam, to boost efficiency and asset utilisation rates.  
It will also focus its resources on high-potential business segments, such as its 51%-owned subsidiary, Asian Sealand Offshore &amp; Marine (ASOM). Specialising in asset integrity solutions, ASOM provides a wide range of on-site services such as repairs, engineering services, maintenance and decommissioning.   
ASOM’s key customers are mainly operators and asset owners of Floating Production Storage and Offloading (FPSO) platforms and Floating Storage and Offloading (FSO) vessels.   
“Developing an asset-light and service-centric approach provides greater financial flexibility, and allows us to scale promising propositions within our business model,” Yong added.  
“We’ve seen signs of turnaround with our strong revenue growth in the first nine months of 2021, which reinforces our confidence in the strategies we have implemented.”  
For 9M 2021, the Group’s revenue rose 34% to S$41.2 million, with gross profit jumping 241% to S$5.0 million and adjusted EBITDA surging 546% to S$2.5 million. With a substantial amount of fixed assets in the balance sheet, the Group registered a depreciation expense (non-cash component) of S$6.2 million over the period. It also generated a net cash inflow of S$1.9 million from operating activities during 9M 2021.  
To accelerate its growth plans and strengthen its balance sheet, the Group announced a placement exercise of 37.2 million new ordinary shares at S$0.09 apiece in October 2021 to raise gross proceeds of approximately S$3.4 million.  New Growth Catalysts  
In the meantime, the COVID-19 pandemic has provided a boost to the Group’s transformation efforts, Yong noted.  
“COVID has presented us with the opportunity to rework, reposition and revamp our business model, and we’re now talking to various technology partners to improve processes, as well as reshape our core operations. These initiatives will lower our cost structure and improve our speed-to-market,” he added.  
“We’re evaluating new business ventures that are aligned with sustainability, which will provide fresh growth catalysts for the Group. We’re confident of becoming more agile, with a stronger business foundation that creates sustainable, long-term value for our stakeholders.”  
In November 2021, Beng Kuang Group unveiled a specialised dredging equipment, designed by its in-house team, for offshore tin mining activities. Installed on barges, the equipment has been tested for operational efficiency in various offshore tin mining sites in Indonesia.  
With this equipment, the Group aims to develop new value propositions for offshore tin mining activity and create new revenue streams  
“There are strong demand drivers in the global tin industry, and while there are significant tin ore deposits within Indonesia’s offshore regions, there are various operational challenges involved in such offshore mining activity,” Yong said.  
“Leveraging our technical expertise from multiple business areas, we’re excited to showcase how our specialised dredging equipment, technology and services can enable tin concession owners in Asia to gain greater access to these offshore tin ore deposits and create more efficiency in their operations.”  
Apart from building the Group’s operational resilience, Yong is also focused on its Environmental, Social and Governance (ESG) priorities.   
“As sustainability is a crucial factor in remaining competitive in today’s market, we’re determined to reduce our carbon footprint and instil sustainability awareness in all our employees,” Yong said.  
Apart from implementing initiatives such as the National Environment Agency’s “Reduce, Reuse, Recycle” programme, Beng Kuang Group continuously explores new technologies to cut energy and water consumption, as well as waste generated, during its daily operations. It also emphasises the occupational safety of its employees, and aims to achieve zero cases of work-related serious injuries or death.   
“We also work with our customers, suppliers and staff in implementing environmentally responsible measures, such as promoting e-invoice and reducing packaging wherever possible,” he added.  
At the end of the day, what inspires this 57-year-old is people - to build and nurture an expanding pool of talent for the Group’s long-term growth.  
“My passion is to create a winning team that can punch above its weight in the market. I want to establish bench strength to lead Beng Kuang Group into the next lap,” he said. “People and talents will remain key.”  
And when he is out of the office, this father of four children, aged five to 25, can be found jogging or golfing, and occasionally, indulging his love for hawker food.   
“I always tell my kids: It’s important to stay committed to your endeavours or end-game. Throughout my banking career, I’ve experienced numerous ups and downs, but I remained steadfast, and focused on my end goals,” he said.  Beng Kuang Marine Ltd  
Beng Kuang Marine was founded in 1994 and has been listed on SGX since October 2004. Over the years, the Group has been striving to be the “Preferred Partner” in providing total solutions for the marine as well as offshore oil and gas industries. As a testament to its commitment to quality, health and safety, many of its subsidiaries have been accredited with the relevant ISO certifications.   Leveraging on its strong track record and established business networks, the Group continues to strategically grow its key businesses in Infrastructure Engineering, Corrosion Prevention, Supply &amp; Distribution and Shipping.  
The company website is: www.bkmgroup.com.sg  
Click here for the company's StockFacts page.  
For the half year ended 30 June 2021 financial results, click here.  
 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  
For previous editions of kopi-C: the Company brew, please click here.    
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to jennifer.t@sgx.com.



Beng Kuang Marine Charts Transformation Journey 

Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

Credit

US equity markets ended higher with the S&amp;P and Nasdaq up 0.3% and 0.2% respectively. Most sectors were in the green led by Materials, up 1% and Consumer Discretionary up 0.6%. US 10Y Treasury yields were up 1bp to 1.75%. European markets were also higher with the DAX, CAC and FTSE up 0.4%, 0.8% and 0.8% respectively. Brazil’s Bovespa was up 1.8%. In the Middle East, UAE’s ADX was up 0.1% while Saudi TASI was up 1%. Asian markets have opened broadly lower – Shanghai, STI and Nikkei were down 0.2%, 0.1% and 0.9% while HSI was up 0.3% respectively. US IG CDS spreads were 0.4bp tighter and HY CDS spreads also tightened 1.5bp. EU Main CDS spreads were 0.6bp tighter and Crossover CDS spreads were 1.9bp tighter. Asia ex-Japan CDS spreads tightened 0.6bp.

6 New $ Deals incl. CIMB, IRFC, CCB; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>CTOS Digital (CTOS) raised around US$291m in its Malaysian IPO in Jul 2021. It is majority owned by Creador, a PE firm.</li>
<li>The stock has done well since listing and is now trading 72% above its IPO price. </li>
<li>In this note, we talk about the updates since listing and the upcoming lock-up expiry.</li>
</ul>


CTOS Digital (CTOS) raised around US$291m in its Malaysian IPO in Jul 2021. It is majority owned by Creador, a PE firm.
The stock has done well since listing and is now trading 72% above its IPO price. 
In this note, we talk about the updates since listing and the upcoming lock-up expiry.


CTOS Digital Lock-Up Expiry:High Chance of Slow Motion Creador Exit but There Should Be Ample Buyers

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

We look at OCBC's results as a guide, window on Malaysia credit metrics. The bank saw substantial deterioration here, affecting the Group as a whole. There are negative implications for Malaysia's banks, which have not yet reported results.

We look at OCBC's results as a guide, window on Malaysia credit metrics. The bank saw substantial deterioration here, affecting the Group as a whole. There are negative implications for Malaysia's banks, which have not yet reported results. 

External broker reports(aggregated public sources), TA Securities Holdings Berhad

TA Securities Holdings Bhd

External broker reports(aggregated public sources)

CIMB hosted an update meeting with Chief Financial Officer (CFO) Khairul Rifaie yesterday. Key takeaways from the session are as follows: Sound asset quality trends [...] Consumer Moratorium and R&amp;R increased to slightly more than 30% following the announcement of the PEMULIH programme, rising from 10% in June 2021 to 27% in July 2021. [...] While the net interest margin (NIM) is expected to contract slightly in 4QFY21 and 1QFY22 as a result of the impact of URUS, management is pencilling in a possible rate hike in 2022 for all of its key operating markets (namely Malaysia, Indonesia, and Thailand), allowing for an overall NIM expansion in FY22. [...] 80%) : Displayed market leading capabilities in integrating ESG factors in all aspects of operations, management and future directions.<div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

CIMB hosted an update meeting with Chief Financial Officer (CFO) Khairul Rifaie yesterday. Key takeaways from the session are as follows: Sound asset quality trends [...] Consumer Moratorium and R&amp;R increased to slightly more than 30% following the announcement of the PEMULIH programme, rising from 10% in June 2021 to 27% in July 2021. [...] While the net interest margin (NIM) is expected to contract slightly in 4QFY21 and 1QFY22 as a result of the impact of URUS, management is pencilling in a possible rate hike in 2022 for all of its key operating markets (namely Malaysia, Indonesia, and Thailand), allowing for an overall NIM expansion in FY22. [...] 80%) : Displayed market leading capabilities in integrating ESG factors in all aspects of operations, management and future directions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Malaysia

Public Bank Berhad provides a range of banking and financial services which include leasing and factoring, stock and futures broking, financing for the purchase of licensed public vehicles, and other financial services. The Group's overseas operations include branches in Hong Kong, Sri Lanka, Laos, Cambodia, and Vietnam.

Hong Leong Bank Berhad provides commercial banking and related financial services.  The Company's services include leasing and hire purchase, nominee, Islamic Banking, and unit trust management.  Through its subsidiaries, the Company also develops and invests in real estate.

Malayan Banking Berhad operates as a bank. The Company provides financial services such as insurance, asset management, stock broking, nominee services, venture capital, leasing, and Internet banking. Malayan Banking Berhad serves customers in South East Asia.

RHB Bank BHD provides banking services. The Company offers commercial and consumer banking, corporate and investment banking, and international banking services. RHB also provides savings accounts, foreign currency accounts, home and travel insurance, and investment planning.

Hong Leong Financial Group Berhad is a banking and financial services holding company. The Company provides a range of services including commercial and consumer banking, investment banking, and insurance broking. Through its subsidiaries, Hong Leong Financial underwrites life/general insurance, provides funds management, corporate advisory, and stock and share broking services.

AMMB Holdings Berhad is an investment holding company.  The Company, through its subsidiaries, provides merchant and commercial banking, retail financing, stock and futures broking, and investment advisory. AMMB also underwrites general insurance, provides asset and unit trust management, and nominees services.

Alliance Bank Malaysia Berhad provides a full range of commercial banking services for retail and institutional customers. The Bank offers savings and current accounts, fixed deposits, investments, loans, insurance, wealth management, phone banking, and business cards. Alliance Bank Malaysia serves customers in Singapore and Malaysia.

BIMB Holdings Berhad provides all aspects of Islamic banking services.  Through its subsidiaries, the Company underwrites family and general takaful (Islamic insurance) and provides stock broking and other related services. BIMB Holdings  also has operation in unit trust management, provides training and consultancy  services, and leases fixed assets to related companies.

Malaysia Building Society Berhad grants loans on the security of freehold and leasehold properties.  Through its subsidiaries, the Company also operates property development and leases real property.

Bursa Malaysia Bhd is a fully integrated exchange, offering a wide range of exchange-related services, including trading, clearing, settlement, and depository services. The exchange also offers information services related to the Malaysian securities market.

BDO Unibank Inc provides banking services. The Bank offers saving accounts, investment, loans, credit and debit cards, remittance, insurance, and trade financing services. BDO Unibank serves customers in Philippines.

Punjab National Bank provides financial services such as corporate and personal banking, industrial finance, agricultural finance, financing of trade and international banking. The Company provides services to domestic conglomerates, medium and small industrial units, exporters, non-resident Indians and multinational companies.

Bank of Baroda owns and operates commercial banks in India.  The Group's banks provide the traditional forms of banking services, including CD's, Credit Card services and a variety of car loans, in addition to gold banking and a range of insurance services.  The Group also owns IBU International Finance Limited, an international banking company in Hong Kong.

Union Bank of India Limited provides a full range of banking services throughout India. The Company's activities include retail banking, commercial and personal banking, investment management, treasury and NRI services, cash management and assorted ATM facilities. Union Bank has an online tele-banking facility for all its core banking customers.

Bank of Nanjing Co., Ltd. operates commercial banking businesses. The Company offers deposits, loans, settlement, discounting, financial bond issuance, government bond underwriting, bank guarantee, and other related financial services. Bank of Nanjing provides services for enterprises and individuals.

E.Sun Financial Holding Company Ltd. is a holding company.  Through its subsidiaries, the Company provides banking, brokerage and dealer services.

Bank of Beijing Company Ltd. attracts deposits and offers commercial banking services.  The Bank offers short-, medium- and long-term loans, insurance, foreign exchange, international settlement, government bonds, and other products and services.

China Everbright Bank Company Limited provides banking services. The Company offers deposits, loans, domestic settlement, currency trading, and other services. China Everbright Bank provides its services to individuals, enterprises, and other clients.

IndusInd Bank Limited is a Mumbai-based Indian new generation bank established in 1994. The Bank provides a range of banking and financial services including  wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending. IndusInd Bank operates branches throughout India as well as an office in Dubai and London.

Shinkin Central Bank is a central bank for shinkin banks nationwide, operating as a cooperative financial institution.  The Bank has developed businesses in a variety of fields that contribute the shinkin banking industry.  The Bank's services include enhancement of the credit standing, efficient use of shikin bank's surplus funds, and settlement of domestic exchange transaction.

CIMB Group Holdings Berhad provides commercial banking and related financial services. The Company and its subsidiaries, operate as a regional universal bank offering a full range of financial products and services, covering corporate and investment banking, consumer banking, treasury, insurance and asset management.

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CIMB Group Holdings (CIMB MK)

Beng Kuang Marine Charts Transformation Journey

Convinced that the best is yet to come, banking and finance veteran Yong Jiunn Run has made it his life’s goal to achieve his...

Singapore Exchange Ltd (SGX)

6 New $ Deals incl. CIMB, IRFC, CCB; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

US equity markets ended higher with the S&P and Nasdaq up 0.3% and 0.2% respectively. Most sectors were in the green led by Materials, up 1%...

BondEvalue

CTOS Digital Lock-Up Expiry:High Chance of Slow Motion Creador Exit but There Should Be Ample Buyers

CTOS Digital (CTOS) raised around US$291m in its Malaysian IPO in Jul 2021. It is majority owned by Creador, a PE firm. In this note, we talk about...

Sumeet Singh

Deterioration In Malaysia

We look at OCBC's results as a guide, window on Malaysia credit metrics. The bank saw substantial deterioration here, suggesting even greater risk...

Daniel Tabbush

Credit Cost Guidance Intact

<p>CIMB hosted an update meeting with Chief Financial Officer (CFO) Khairul Rifaie yesterday. Key takeaways from the session are as follows: Sound...

TA Securities Holdings Bhd

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