Managers of Wealth Asia Pacific

Billions of dollars at stake for Indian banks in 2021 court cases

The legal tussles pit India’s lenders, central bank and government against corporate borrowers struggling to survive amid lockdowns prompted by Covid-19.

PBOC Revises AML Rules to Enhance Supervisory Scope

The new rules will apply to non-bank payment institutions, online microfinance businesses, consumer finance companies, and banks’ wealth management subsidiaries.

Singapore supports international efforts to strengthen IMF resources amidst the COVID-19 pandemic

These loan renewals will help boost the IMF’s resources to enable it to effectively play its role in safeguarding global economic and financial stability in response to the COVID-19 pandemic.

HSBC, Standard Chartered start short-selling business in China

Standard Chartered says it “took the lead as a custodian bank in assisting a large overseas institutional investor to complete a stock borrowing deal in the A-share market” on the first day of the new measure.

Singapore bank lending up 0.2% in November: MAS data

Overall, total bank lending in November was down 2.3 per cent year on year.

Maldives-Japan sign exchange of notes on deferring debt-service

The Exchange of Notes follows the Memorandum of Understanding (MoU) on the Treatment of Debt Services signed between Maldives and a number of its bilateral creditor countries, including Japan, in September.

China says it hopes EU investment deal negotiations come to early fruition

China and the European Union are likely to clinch a deal this week

Mah Sing Group completes issuance of RM100m Sukuk

Work at the glove manufacturing factory of 228,800 sq ft, is progressing according to schedule.

Ant Group’s Restructuring Could Slash Its Valuation And Slow Its Growth

“Mortgages and guarantees are for a pawnshop, but if we go to extremes in relying solely on collateral assets, certain enterprises will pledge all of their assets, and the pressure [for them] is enormous,”

Validant acquires Japanese regulatory consultancy IDEC

The bolt-on of IDEC marks the firm’s entry in Japan, and enhances its footprint in Asia, which recently was bolstered by the opening of an office in China.

China financial regulators urges Ant Group to set 'rectification' plan swiftly

The state-backed Economic Daily said in a commentary that Ant should serve the people’s needs and economic development, taking effective corporate social responsibility.

Banks Create Greater Bay Area Jobs for Young Hong Kong Talent

At HSBC, it kicked off the construction of a 16,000 square meter global training center based in Guangzhou which is expected to complete by 2024.

China Cybersecurity and Data Protection: Monthly Update – Dec 2020 Issue

This is an important step in implementing one of the protection measures contemplated in the draft Personal Information Protection Law for specified types of processing activities.

Multiple private equity firms engaged in fraud, bribery, FSS says

A manager from another company invested in company A through its funds even after finding out the company has not been using the invested money as intended, and subsequently lost investors' money.

Thai interest rate unchanged but central bank cuts GDP outlook

Bank of Thailand trims 2021 growth forecast to 3.2% due to sluggish tourism

Fusion Bank Launches Virtual Banking Services in Hong Kong

The collaboration with Tencent allows Fusion Bank customers to bind their bank accounts to WeChat Pay HK and use their bank account as a funding source for making payments.

China’s e-commerce titan Alibaba hit with antitrust probe

Company business operations remain normal.

Hong Kong Anti-Graft Watchdog Appeals Acquittal

The current appeal will not include the acquittal of a separate charge of publishing misleading information in Convoy’s 2016 annual report.

After Singapore awards digital bank licences, all eyes now on Malaysia

A year ago, the central bank said it would issue up to five digital bank licences to qualified applicants.

Singapore advice firm eyes DFM offering

AAM Advisory hoped to get the licence in place in 2020, but due to the disruptions brought by the outbreak of the covid-19, it was forced to press pause on its growth plans.

Legal, Regulation & Compliance