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Ayala Corp. lists Asias 1st hybrid preferred shares

Ayala Corp. lists Asias 1st hybrid preferred shares Hybrid preferred shares of Ayala Corp., one of the countrys largest conglomerates, will be the first publicly offered local currency hybrid capital in Asia. The shares, which will be listed in the stock market today, are expected to raise P5.8 billion. The preferred shares will pay a fixed dividend rate of 9.475 percent per annum to be paid quarterly. The hybrid capital has a perpetual maturity with an option from Ayala to call in five years, said HSBC treasurer Jose Arnulfo Veloso yesterday. HSBC and BPI Capital Corp. are joint issue manager

Japan’s Indian business plans pivot on S.E. Asia

Japan's Indian business plans pivot on S.E. Asia In the wake of China's rise, India is beginning to attract increased attention on account of the enormous size of its market. Due to India's distance from Japan and its different business culture, many Japanese companies are hesitant to make inroads in India or have already had their fingers burned. In light of this, some Japanese companies are establishing forward bases in Singapore and Thailand with an eye on leaping from there into the Indian market. Kikkoman Corp., a soy sauce brewer, established a joint research institute with the National University of Singapore

As UK RMBS Mkt Grows, Issuers Head East

As UK RMBS Mkt Grows, Issuers Head East SINGAPORE (Dow Jones)--U.K. issuers of residential mortgage-backed securities are increasingly heading east to tap a new pool of investors. As the volume and diversity of deals grow, issuers are casting their thoughts to the future and laying the groundwork to grow their investor base - thus far largely European and U.S. - in Asia. "We have not set a specific level, but we're looking to increase the business volume from the Asian market," said David Johnson, director of securitization at U.K. mortgage lender Northern Rock PLC (NRK.LN). In 17 RMBS issues since

Asia: Nikkei 225 index hit by technical glitch

Asia: Nikkei 225 index hit by technical glitch The Nikkei closed higher on Monday, as the weaker yen against the dollar gave key exporters a boost. A technical glitch by the Nihon Keizai company, which prints the Japanese business daily, prevented the release of the Nikkei 225s closing figures following a power cut in Tokyo. Otherwise the Tokyo Stock Exchange said trading was unaffected by the blackout, which effected train lines and offices, this morning. The Nikkei 225 morning session closed up around 237 points at 15,802. Meanwhile shares in Tokyo Electric Power recovered from early morning selling after the power

Indian team gets ready for Asia Cup qualifier

Indian team gets ready for Asia Cup qualifier The Indian football team was slugging it out in a practice match against the Air Force team, but its skipper, Baichung Bhutia was sweating it out by jogging on the adjacent athletic track. "Straight running is not a problem,'' says Bhutia to the doctor P. S. M. Chandran who queries about his recovery. Bhutia suffered a cut on his thigh during East Bengal's national league encounter against JCT recently and thus has been reduced to the sidelines so far during the national team's preparation for the Asia Cup qualifier to be played