Managers of Wealth Asia Pacific

Malaysia’s EPF okays 1.66 billion ringgit of early withdrawals by cash-strapped members

The EPF has approved early withdrawals by 3.51 million or 46.2% of its members under the i-Lestari scheme.

Ant Financial forms partnership with FinTech Wave Money

As part of this partnership, Ant Group plans to invest USD73.5 million into Wave Money to become a substantial minority stakeholder, alongside the aforementioned existing contributors.

Bridgestone South Africa secures US$21.7 million loan with JBIC

Development bank aims to boost Japan’s competitiveness, connectivity with Africa

Australia approaches fiscal cliff: UBS

"The total cumulative fall over the seven weeks since March 14 is now 7.3%,

Regulator Demands Access to Credit Suisse Text Messages

The investigators want to know whether the managers used an encrypted-messaging system to keep the content secret

South Korea's SEMA seeks advisers to help set up 500 billion won multi-asset strategy

SEMA’s equity portfolio posted a return of 11% last year, recovering from a 27.6% loss in 2018 and boosting its overall investment return to 8.15% from 1.66%.

Franklin Templeton’s India unit seeks investor okay to liquidate funds

The six funds had a combined net asset value of over 250 billion rupees (US$3.29 billion) when they were shut on April 23.

FSC Korea Targets ASEAN Expansion in Financial Hub Plan

Under the plan, the FSC will foster the fintech industry through funding support and through “creating a virtuous cycle between the financial regulatory sandbox program and regulatory reforms.”

FSC, central bank agree on OBU rule

Currency Benefits: Commission chairman Wellington Koo said that as Taiwanese firms’ registrations might not be approved abroad, they could open accounts here

ASIC revokes AFSL suspension, cancels another

ASIC cancelled the AFS licence because Tailormade was in liquidation.

Singapore central bank spearheads S$6 million grant for fintech firms

There are two components to the grant.

Coronavirus: Asian companies seek emergency cash via rights issues to plug holes in balance sheets

Companies from Singapore to India raises billions via rights issues

HK Police Arrest Three in HK$54m Money Laundering Case – Report

One of the victims was a 76-year-old woman, who lost HKD 25 million after being tricked into revealing her personal data and online banking details by fraudsters impersonating Mainland officials.

Granting UBS a digital banking license could be a win-win for China

It has to be underlined that UBS' ambitious plan depends on securing a digital bank license to operate on the Chinese mainland, and its success will also depend on the fierce competition of domestic players such as Alibaba's MYBank, Tencent&

Bankruptcy case casts doubt on US$96 billion of offshore Chinese bonds claims, puts pressure on financial products skirting capital controls

Around 16 per cent, or US$96 billion, of outstanding Chinese offshore bonds contain keepwell provisions: Redd

Appleby Hong Kong Partner Fiona Chan and Counsel Vincent Chan are named in the Asian Legal Business Offshore Client Choice List 2020

The recognition marked the culmination of extensive research conducted by ALB which involved collating hundreds of questionnaires in their annual client survey with leading in-house counsel, lawyers in the onshore space and referees from financial institu

Westpac Admits to Money Laundering Breaches

While admitting to the breaches, the Sydney-headquartered lender denied accusations that it enabled illegal payments between known child sex offenders including in the Philippines.

Bankruptcy case casts doubt on US$96 billion of offshore Chinese bonds claims, puts pressure on financial products skirting capital controls

From British bank HSBC suspending dividend payments to rising defaults on payments due to bondholders, borrowers and governments are riding roughshod over investors' rights as they grapple with the fallout from the novel coronavirus pandemic.

Clifford Chance advises on US$500m bond offering by Indonesia's Bank Mandiri

Bank Mandiri's transaction comes as Indonesia continues to battle the effects of the COVID-19 crisis.

BIS Calls for Global Cooperation to Mitigate ‘Green Swan’ Risks

Due to the complexity of green swans, no single actor, whether national or global, will have a silver bullet for their solution, the paper says.

Legal, Regulation & Compliance