Morgan Stanley sees China restructuring troubled developer

(Sept 22): Beijing may initiate a managed debt restructuring of “a troubled property developer” in the coming week, followed by policy easing in October to contain spillover to the broader economy, according to Morgan Stanley economists. “Regulators have had a mechanism to deal with defaults of property developers and reduce systemic risk,” economists including Robin Xing wrote in a note …

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Poland to donate 400,000 doses of AstraZeneca vaccine to Taiwan

WARSAW (Sept 4): Poland will donate 400,000 doses of the AstraZeneca Plc COVID-19 vaccine to Taiwan, the foreign ministry in Warsaw said on Saturday, to help boost vaccination rates in the country. While a relatively small domestic coronavirus outbreak is well under control in Taiwan, only around 5% of its 23.5 million population are fully vaccinated, though the government has millions …

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Chinese premier urges major powers to ‘take responsibility’ for environment

SHANGHAI (Sept 4): Chinese Premier Li Keqiang urged major powers to “show responsibility” and play a leading role in improving global environmental governance and addressing such challenges as climate change. Speaking via video link at the opening ceremony of the IUCN World Conservation Congress on Friday, Li said countries should use the United Nations to draw up global rules and create …

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Perfect balance sheets harder to find in Asia than in US

(Aug 5): Asia investors following the global switch to quality stocks are not only suffering from striking underperformance but also a relative lack of candidates with the strongest balance sheets. Just two of the MSCI Asia Pacific Index’s 1,543 members have a perfect Piotroski F-Score — a financial-health assessment devised by an accounting professor to measure the overall quality of …

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Ivory Properties to jointly develop residential properties in Kedah

KUALA LUMPUR (Aug 2): Ivory Properties Group Bhd has teamed up with ECK Development Sdn Bhd to jointly develop residential components at AirportCity and Aerotropolis in Kedah. In a bourse filing, the Penang-based property developer said it has entered into a binding term sheet with ECK for the venture on a land measuring 135 acres. ECK has in principal been appointed by …

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Revenue Group consortium submits application for digital banking licence

KUALA LUMPUR (August 2): A consortium comprising Revenue Group Bhd, Sarawak State and Kenanga Investment Bank Bhd has submitted its application for a digital banking licence from Bank Negara Malaysia (BNM). In a bourse filing today, Revenue said SSG Digital Resources Berhad, a special purpose vehicle for the consortium had on June 29 submitted the application for a digital banking …

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CIMB launches OctoSavers, its first fully digital Islamic savings account

KUALA LUMPUR (Aug 1): CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB OctoSavers Account-i, the bank’s first all-digital Islamic savings account, together with the new CIMB OctoDebit MasterCard. OctoSavers Account-i is specially curated for the convenience of new customers as the account opening and onboarding process are done entirely online, while the debit card will be …

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