Standard Chartered Bank

OCBC said to weigh bid for StanChart-backed Indonesian bank

(Aug 15): Oversea-Chinese Banking Corp. is weighing a bid for Standard Chartered Plc’s Indonesian bank, people with knowledge of the matter said, a move that may create the country’s fifth-largest lender. OCBC shares fell.

The Singaporean bank is considering an offer for almost 90% of PT Bank Permata, which has a market value of about US$1.9 billion ($2.6 billion), said the people, asking not to be named as the deliberations are private. OCBC is interested in the stakes held equally by Standard Chartered and PT Astra International, the people said.

Why a savings account alone is not enough to achieve your financial goals

SINGAPORE (Oct 29): Singapore’s emerging affluent are still far from achieving their top financial goals with their current wealth management strategies, finds a recent study commissioned by Standard Chartered Bank.

The Emerging Affluent Study 2018 – Climbing the Prosperity Ladder is the culmination of 11,000 emerging affluent consumers’ views from 11 markets across Asia, Africa and the Middle East.

5 named winners of EY Entrepreneur of the Year 2018

SINGAPORE (Sept 10): Professional services organisation EY today announced the five recipients of its 17th EY Entrepreneur of the Year (EOY) 2018 Singapore awards. They are:

EY Entrepreneur of the Year – Engineering and Construction
Von Lee Yong Miang, Chairman, Expand Construction

StanChart entities fined $6.4 mil for anti-money laundering and counter terrorism financing breaches

SINGAPORE (Mar 19): The Monetary Authority of Singapore (MAS) has imposed penalties totalling $6.4 million on two Standard Chartered entities in Singapore for the breach of the central bank’s anti-money laundering and countering the financing of terrorism (AML/CFT) requirements.

Specifically, Standard Chartered Bank, Singapore Branch (SCBS) was fined $5.2 million for 21 breaches whiile Standard Chartered Trust (Singapore) (SCTS) was fined $1.2 million for 12 breaches.   

Personalised Investment Ideas: the new intelligent tool for investors

When is it the best time to buy and sell? How will changing market conditions affect my portfolio? What should I do if interest rates rise? All these can be answered by Standard Chartered Bank’s new intelligent Personalised Investment Ideas tool. A first in financial services, the Personalised Investment Ideas tool is revolutionary, with the ability to generate investment ideas according to clients risk profiles and investment holdings within a couple of minutes. To access the tool, the client just need to get in touch with his or her Relationship Manager.

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MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

SINGAPORE (Oct 5): A consortium led by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced Thursday that it has successfully developed software prototypes of three different models for decentralised interbank payment and settlements with liquidity savings mechanisms.

The three software models are among the first in the world to implement decentralised netting of payments in a manner that preserves transactional privacy.

Mapletree Business Centre officially opens in Ho Chi Minh City

SINGAPORE (March 22): Mapletree Investments has officially launched Mapletree Business Centre, its first office development in Vietnam, at District 7 of Ho Chi Minh City (HCMC).

Singapore’s Prime Minister Lee Hsien Loong was present together as guest-of-honour with Vietnam’s deputy PM, Trinh Dinh Dung, at the opening ceremony held this morning at the office development in HCMC.

UOB’s Basel-III compliant Tier 2 notes 7.3 times subscribed

SINGAPORE (Sept 1): United Overseas Bank (UOB) says it will be issuing US$600 million worth of 2.88% Basel III-compliant Tier 2 subordinated notes on Sept 8.

UOB says the notes were “7.3 times subscribed” with an order book of US$4.4 billion ($6 billion) and are expected to be rated ‘A2’ by Moody’s Investors Service and ‘A+’ by Fitch Ratings.

Issued under the bank’s $15 billion Euro medium-term note programme, the notes will be due 2027 and callable in 2022, while distributions will be payable semi-annually in arrears.

Olam to issue US$500 mil of perpetual capital securities

SINGAPORE (July 14): Olam International is to issue US$500 million ($674 million) of perpetual capital securities under its US$5 billion Euro Medium Term Note (EMTN) Programme.

According to Olam’s CFO, Neelamani Muthukumar, the deal represents the “largest ever US$ perpetual offering by a Singapore-based issuer”.

In a Wednesday statement, Olam adds that the transaction is in line with the group’s strategy of “actively managing its capital structure in a cost effective manner”.

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