HALISTER1: Singapore Names Jho Low Person of Interest in 1MDB-Linked Probe

Singapore Names Jho Low Person of Interest in 1MDB-Linked Probe

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
0206021D MK (1Malaysia Development Bhd)

People
Low Taek Jho (Jynwel Capital Ltd)
Jynwel Capital Limited (Jynwel Capital Ltd)
Mohamed Badawy Al-Husseiny (Aabar Investments PJSC)
Yeo Jiawei (BSI Bank Ltd)

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UUID: 7947283

HALISTER1: Singapore Police Name Jho Low ‘Person of Interest’ in Probe

Singapore Police Name Jho Low ‘Person of Interest’ in Probe

(Bloomberg) -- Low Taek Jho, also known as Jho Low, a “key person of interest in our investigation”, Singapore police officer tells court on Thursday during obstruction of justice hearing involving an ex-BSI banker.
  • Singapore’s investigation into Low started in 2015: police officer Oh Yong Yang
  • Oh says probe relates to complex sophisticated money laundering involving billions of dollars and taking place in other jurisdictions
  • Other key people of interest to Singapore authorities include Low’s associate Eric Tan Kim Loong and former Aabar Investments CEO Mohamed Badawy Al-Husseiny: Oh
  • NOTE: Ex-BSI Banker Yeo Believed to Work With ‘Boss’ Jho Low: Witness {FIFW NSN OFYHPF6JIJV7 }
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0206021D MK (1Malaysia Development Bhd)

People
Low Taek Jho (Jynwel Capital Ltd)
Mohamed Badawy Al-Husseiny (Aabar Investments PJSC)
Yeo Jiawei (BSI Bank Ltd)

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UUID: 7947283

HALISTER1: Asian Inflows May Be at Risk From Steeper Fed Hikes: Nomura

Asian Inflows May Be at Risk From Steeper Fed Hikes: Nomura

(Bloomberg) -- There is a risk of a negative impact on Asia from a steeper Fed rate hiking cycle, given that the global search for yield has led to large foreign investments in Asia’s debt markets, as well as Asia’s mature financial cycle, Dushyant Padmanabhan, Asia FX strategist at Nomura, says
  • For Asia FX, northeast Asian currencies most at risk due to their direct trade and investment links with the U.S. as well as from regional geopolitics and the impact of Trump’s policies toward China in particular
  • 10-year Treasury yield surged 20bps yesterday with a gauge of buyer appetite at an auction dropping to lowest level since 2009
  • Bloomberg JPMorgan Asia dollar index steady at 105.55, touched eight month low earlier at 105.29
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Dushyant Padmanabhan (Nomura Holdings Inc)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Muthoottu Mini, United Corp Cut; HIKAL Raised

INDIA RATINGS: Muthoottu Mini, United Corp Cut; HIKAL Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Muthoottu Mini Financiers
    • Long-term bank facilities cut to BB+ from BBB- at CARE
    • Cites investment in fixed assets that aren’t linked to core business, moderation of asset quality and profitability in FY16
  • United Corp
    • Long-term rating cut to D from BB- at Crisil
    • Cites liquidity crunch, which led to cash flow mismatch for company
UPGRADES
  • HIKAL Ltd.
    • Long-term loans raised to BBB+ from BBB at ICRA
    • Cites strong product profile including pending launch for both proprietary as well as contract manufacturing molecules, relationships with international pharma and agro-chemical firms and market position for Gabapentin business
  • JM Financial Asset Reconstruction Co.
    • Long-term bank lines raised to AA- from A+ at ICRA
    • Cites increase in shareholding by JM Financial Ltd
  • Padmashree Inc.
    • Long-term fund based limits raised to BB- from B+ at ICRA
    • Cites better-than-expected results in FY16
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HKCI IN (Hikal Ltd)
UTDC US (United Corp)

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UUID: 7947283