Big SG companies look down on local market

[LITTLEREDDOT]

Big SG companies biting the proverbial hand that feeds them. They earn bulk of their revenue from Singapore but does not give business back in return to SG.
Their legitimate excuse: Singapore Exchange as a place to get listed and raise funds sucks.

Forum: Why didn't SIA use a local bank for bond issue?

JAN 17, 2021, 11:01 PM SGT


I read with interest reports related to Singapore Airlines' first US dollar debt debut (SIA raises US$500 million in US dollar bond debut, Jan 15).

I am not from the financial industry but I noted that the airline had appointed Citigroup as sole global coordinator, along with BofA Securities and HSBC as joint bookrunners for the issue.

As the airline is a Singapore company, the move raises the question of why no Singapore banks were involved, especially when we have award-winning local banks like DBS Bank, which has been voted best bank in the world.

As a Singaporean who travelled frequently pre-Covid-19, I usually prefer to fly our national carrier, partly due to the high frequency of flights, but also to support our home-grown carrier in spite of the higher prices.

These are extraordinary times, and shouldn't Singapore companies support one another? Perhaps the commercial terms made it such that it was not possible for SIA to issue these bonds through a Singapore bank, but it would be good if SIA can shed some light on the nature of the decision.

Benjamin Puah Hong Beng

 

[LITTLEREDDOT]

Grab considering US IPO this year, say sources; could raise at least US$2 billion

The IPO could raise at least US$2 billion (S$2.67 billion).PHOTO: ST FILE

18 JAN 2021


SINGAPORE (REUTERS) - South-east Asian ride-hailing and food delivery giant Grab is exploring a listing in the United States this year, encouraged by robust investor appetite for IPOs, three sources familiar with the matter told Reuters.

The IPO could raise at least US$2 billion (S$2.66 billion), one of the sources said, which would likely make it the largest overseas share offering by a South-east Asian company.

"The market is good and the business is doing better than before. This should work well for public markets," he said.

The plans, including the size of the issue and timing, have not been finalised and are subject to market conditions, said the sources, who declined to be identified as they were not authorised to speak about the matter.

Singapore-based Grab declined comment on the potential IPO.

Grab, whose backers include SoftBank Group Corp and Mitsubishi UFJ Financial Group, has expanded rapidly from its beginnings as a ride-hailing venture in Malaysia in 2012 to become the region's most valuable start-up worth more than US$16 billion.

The company, which also offers financial services and recently gained a digital bank licence in Singapore, said this month that group revenue had recovered to be comfortably above pre-pandemic levels.

It has also said its ride-hailing business is breaking even in all its operating markets, including Indonesia, the biggest. It expects its food delivery business to break even by the end of the year.

The IPO plans would come after merger discussions with Indonesian rival Gojek were dropped.

Gojek and Indonesian e-commerce leader Tokopedia are in advanced talks for a US$18 billion merger ahead of a potential dual listing in Jakarta and the US, Reuters reported this month.

 

[red amoeba]

Singapore stocks & bond market is dead worse than a pool of stale urine.

 

[kaninabuchaojibye]

sinkapura got market ah?
don't dream
it's a peesai leeching on others lah

 

[millim6868]

PAPigs favour foreigners to take our job ,so this is happening, the feel sinkies arectrash

 

[syed putra]

H9ng kong attracts china companies to list there. Sinkies not doing much to do the same wrt Asean companies. Dual listing is good. Closest they got to do this was with CLOB and it got clobbered.

 

[LauKow]

Big SG companies biting the proverbial hand that feeds them. They earn bulk of their revenue from Singapore but does not give business back in return to SG.
Their legitimate excuse: Singapore Exchange as a place to get listed and raise funds sucks.

Forum: Why didn't SIA use a local bank for bond issue?

JAN 17, 2021, 11:01 PM SGT


I read with interest reports related to Singapore Airlines' first US dollar debt debut (SIA raises US$500 million in US dollar bond debut, Jan 15).

I am not from the financial industry but I noted that the airline had appointed Citigroup as sole global coordinator, along with BofA Securities and HSBC as joint bookrunners for the issue.

As the airline is a Singapore company, the move raises the question of why no Singapore banks were involved, especially when we have award-winning local banks like DBS Bank, which has been voted best bank in the world.

As a Singaporean who travelled frequently pre-Covid-19, I usually prefer to fly our national carrier, partly due to the high frequency of flights, but also to support our home-grown carrier in spite of the higher prices.

These are extraordinary times, and shouldn't Singapore companies support one another? Perhaps the commercial terms made it such that it was not possible for SIA to issue these bonds through a Singapore bank, but it would be good if SIA can shed some light on the nature of the decision.

Benjamin Puah Hong Beng

DBS Bank, which has been voted best bank in the world - This one fake one?