Managers of Wealth Asia Pacific

Managed fund asset valuations must be reliable during COVID-19

Accurate and timely valuation of assets is central to the fair and efficient operation of managed funds

Malaysia Works to Enable Real-time Cross-border Payments

BNM is also working migrate to ISO 20022, a financial messaging standard developed by SWIFT that is able to capture richer data in a machine-readable format.

APRA to recommence prudential policy program and issuing of new licences

APRA Chair Wayne Byres said it was appropriate, having originally suspended these activities for six months

China urges banks to slash salaries as Covid-19 slows economy

However, the implementation of this plan has not been uniform and the finance ministry has begun pressuring the firms to make the cuts.

ADB, UNDP Sign Agreement to Boost Disaster Recovery in Asia Pacific

The partnership between ADB and UNDP is for two years and is being financed by the Government of Japan.

The technology China uses to 'audit' its population

China is building up its mass surveillance tech tools and exporting them all over the world

Hong Kong Haven Status Undermined by Swiss Shift

The precious metal recently rallied past $2,000 per ounce on pandemic and inflation fears and is expected to keep rising.

OneVue to take Taiping to court

OneVue also wants Taiping to pay Madison's receivership costs and OneVue subsidiary Diversa's costs of court proceedings.

Will Swiss Banks Eventually Have to Leave Hong Kong?

The new requirement may put (Swiss) banks on a collision course with the basis of the initiative because they potentially could lead to human rights infringements.

Chief executives cop pay cuts

The number of eligible ASX200 chief executives who did not get a bonus drastically increased from seven to 25.

Low nominated new 1MDB ED with Najib’s approval, court told

The court previously heard that Article 117 of 1MDB’s memorandum and articles of association provided Najib, among others, the power to hire and fire as the PM.

PBOC Authorises Bankruptcy Filing of Baoshang Bank

Tomorrow Holdings, the target of a government crackdown on systemic risks, is blamed for the collapse of Baoshang Bank, for interfering in its daily operations, chipping away at its risk controls, and manipulating shareholder meetings.

RBI Adopts New Measures to Ease Covid-19 Financial Stress

The RBI says lenders may extend the residual tenor of loans under resolution by a maximum of two years, whether a moratorium on repayments is granted or not.

Thailand's Social Security Office cuts contribution rates again amid Covid-19, report says

The Southeast Asian country closed its borders to foreign tourists in April to curb the spread of the pandemic, dealing a heavy blow to its tourism sector, which accounts for 15% of Thailand’s gross domestic product.

Singapore Director Charged in Wirecard Scandal

Wirecard is at the center of one of the region's biggest corporate accounting scandals in recent years, having admitted that €1.9 billion is missing from its financial accounts.

Attacks on Trusts

Trusts are usually set up to protect assets from creditors’ claims

Jho Low had a habit of 'masking' offshore company names to sound like established companies, court told

The issue came about as Wan Aizuddin was questioning Shahrol on Abu Dhabi Malaysia Investment Company (Admic) Ltd, a company which was originally registered as Malaysian Abu Dhabi Investment Company on March 5,2013.

Trusts and Shari’a compliance

This is commonly referred to as 'forced heirship' and is most common within civil law countries and countries with Shari’a law in place.

1MDB scandal fugitives hiding in China: Malaysian police

The most prominent is Low Taek Jho - commonly known as Jho Low - a bespectacled, chubby financier known for partying with Hollywood A-listers and accused of being the scandal's mastermind.

MAS Announces Key Initiatives to Support SORA Adoption

It will also facilitate the adoption of SORA as a floating rate benchmark, provide a pricing reference for SORA cash products [2] , and spur hedging activities through the SORA derivatives market.

Legal, Regulation & Compliance