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SingaporeINVESTMENT banks earned a record US$358 million from Singapore deals in the first nine months of this year, up 18 per cent year-on-year from US$302 million, Dealogic data showed.mini storageReal estate was the top industry, accounting for two-fifths of revenues, or US$143 million. This was up 77 per cent.Singapore deals took up about a third of total South-east Asia investment banking revenues of US$1.1 billion year-to-date.Investment banking revenue rose for deals in Thailand and Indonesia, while Malaysia saw the largest fall.South-east Asia revenue as a whole was down 14 per cent from the same period last year, however. This stemmed from declines in debt capital markets and syndicated loans. Equity capital markets (ECM), which include initial public offerings and private share sales, and mergers and acquisitions (M&A) revenue, rose to their second-highest year-to-date levels on record.Swiss bank UBS maintained its lead position in the South-east Asia investment banking revenue rankings. Its share of the pie was 8.1 per cent, followed by Credit Suisse at 6.9 per cent and DBS at 4.8 per cent.In ECM activity, UBS was the top bookrunner, having been iself storagevolved in deals valued at US$4.1 billion so far this year. This included the bank's involvement in the US$2.1 billion IPO of a fund controlled by the operator Bangkok's SkyTrain rail system, and the US$1.5 billion share sale of Indonesia's PT Matahari Department Store of which the Government of Singapore Investment Corp and Temasek Holdings were buyers. Meanwhile, UBS was the sole bookrunner in a US$262 million block sale of shares in taxi operator ComfortDelGro by the Singapore Labour Foundation in May.Globally, total investment banking revenue reached US$50.4 billion in the year to Sept 20, said Dealogic, up 7 per cent from a year ago.The Americas accounted for more than 58 per cent, the highest year-to-date share since 1998. The top three banks were JP Morgan, Bank of America-Merrill Lynch and Goldman Sachs.There is a strong pipeline of deals waiting for the right market conditions for the go-ahead, industry players said. Global M&A activity could make a comeback as corporate confidence has improved, Societe Generale said earlier this week. Ernst & Young said initial public offering activity could return in Q4, led by the US and South-east Asia.mini storage
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