HALISTER1: BSP to Faithfully Enforce Anti-Money Laundering Law: Espenilla

BSP to Faithfully Enforce Anti-Money Laundering Law: Espenilla

(Bloomberg) -- Anti-Money Laundering Council will evaluate standards by which it’s able to comply with law against dirty money, incoming Bangko Sentral ng Pilipinas Governor Nestor Espenilla says at briefing in Manila.
  • Espenilla, whom President Rodrigo Duterte picked to replace Amando Tetangco, was asked whether Anti-Money Laundering Council will act on Senator Antonio Trillanes’ call for it to list Duterte’s banking transactions
  • NOTE: Trillanes has accused Duterte of illegally amassing billions of pesos when he was Davao City mayor, an allegation that president has denied Link; BSP governor also sits as chairman of Monetary Board and heads Anti-Money Laundering Council
  • Espenilla says since he hasn’t assumed office of BSP chief, he hasn’t looked into those, but pledged to faithfully effect anti-money laundering law when his time comes
  • “We’re also deeply committed to protect the integrity of the financial system against criminal elements,” Espenilla says
  • BSP to push legislative measures including changes to its charter, relaxing rules on deposit secrecy and expanding coverage of anti-laundering law to include casinos
  • BSP in talks with SEC and Treasury Bureau to reform capital markets particularly debt market to support govt’s ambitious infrastructure plan

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Nestor Espenilla (Bangko Sentral ng Pilipinas)
Antonio Trillanes (Republic of the Philippines)

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UUID: 7947283

HALISTER: Elliott Seeks Akzo Chairman’s Ouster in Court Over PPG Bid

Elliott Seeks Akzo Chairman’s Ouster in Court Over PPG Bid

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AKZA NA (Akzo Nobel NV)
PPG US (PPG Industries Inc)

People
Antony Burgmans (TNT Express NV)
Hugh Grant (Monsanto Co)
Michael McGarry (PPG Industries Inc)
Ton Buchner (Akzo Nobel NV)

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UUID: 7947283

HALISTER1: Korean Yields May Rise on Possible Fiscal Stimulus: Schroder

Korean Yields May Rise on Possible Fiscal Stimulus: Schroder

(Bloomberg) -- Yields on Korean bonds may rise if there is a fiscal stimulus after the elections, Rajeev De Mello, head of Asian fixed income at Schroder Investment Management says in Bloomberg TV interview.
  • If there’s a fiscal boost, “as we could expect from the leading candidates,” yields are expected to rise a little bit
    • “I would expect the longer-maturity yields to rise somewhat”: De Mello
  • Inflation in Korea is extremely low. So, there is no reason for the Bank of Korea to contemplate hiking rates. That will anchor the front end
  • Yield on Korea 10-year government bond rose 3bps Monday to 2.24%
  • NOTE: South Koreans head to the polls Tuesday, in a special election to replace ousted leader Park Geun-hye after months of turmoil; results expected around midnight

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Rajeev De Mello (Schroders PLC)

Topics
Emerging Mkts News, Analysis

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UUID: 7947283

HALISTER: Atlantia Said Mulling EU16/Share Bid for Abertis: Confidencial

Atlantia Said Mulling EU16/Share Bid for Abertis: Confidencial

(Bloomberg) -- Price of ~EU16/share currently discussed by Atlantia would value Abertis at EU16b, El Confidencial reports, citing people familiar with the matter.
  • Offer would be below La Caixa’s expectations
  • NOTE: May 8, Atlantia Said to Near Abertis Bid to Create Toll-Road Giant

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ABE SM (Abertis Infraestructuras SA)
ATL IM (Atlantia SpA)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Axis Bank, Manyata Promoters, Trident Raised

INDIA RATINGS: Axis Bank, Manyata Promoters, Trident 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
DOWNGRADE
  • Serman India Road Makers
    • Long-term bank facilities cut to B+ from BB- at Care
    • Cites significant decline in total operating income
UPGRADES
  • Axis Bank
    • Basel III Tier 1 bonds raised to AA+ from AA at Crisil
    • Cites comfortable reserves position
  • Manyata Promoters
    • LT bank facilities raised to A(SO) from A-(SO) at Crisil
    • Cites faster-than-anticipated leasing of its recently developed commercial space and sharp reduction in interest rate
  • Shalina Laboratories
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Cites robust financial risk profile
  • Trident
    • LT bank facilities raised to A+ from A at Crisil
    • Expects business risk profile to improve over the near to medium term due to ramp-up in utilization of towels and newly established bed-linen facilities

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
AXSB IN (Axis Bank Ltd)
TRID IN (Trident Ltd/India)
1023106D IN (Manyata Promoters Pvt Ltd)
9155867Z IN (Shalina Laboratories Pvt Ltd)

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UUID: 7947283