can improve project feasibility and bankability,
enabling project leads to become viable
commercial projects," said Seth Tan Keng Hwee,
executive director of Infrastructure Asia.
The agency will work closely with the private
sector, governments and commercial and
development banks, Tan said.
IMF Bentham
Share placement to fund expansion
Australia-headquartered litigation funding firm
IMF BENTHAM has raised A$74.48m (US$59.91m)
from a share placement to fund its global
expansion.
The company completed a placement of 26.6m
shares to institutional investors last Tuesday
and said it had initiated a share purchase plan
for retail investors, which is set to raise an
additional A$10m.
It said it was aiming to have close to A$1.5bn in
funds under management by the end of 2019 to
expand its footprint in continental Europe, Asia
and Canada.
IMF Bentham, which has financed prominent
class action lawsuits in Australia, including
against Commonwealth Bank of Australia
over its alleged failure to disclose that it was
being charged for money laundering, has been
expanding in Asia recently.
Last month, Arvindran Manoosegaran joined
as associate investment manager from law firm
K&L Gates. He is based in Singapore.
It also recently received approval from the
Singapore High Court to enter into a funding
agreement with liquidators for Trikomsel to
finance investigations and potential claims
related to the Indonesian mobile phone
distributor, which defaulted on S$215m
(US$155.83m) of bonds in 2015.Singapore Exchange
Q1 results lifted by derivativesSINGAPORE EXCHANGE eked out a 2% gain in
revenues for the July-September quarter as
a strong showing in derivatives offset more
disappointing results in other businesses.
SGX said that for the first quarter of its 2019
financial year revenues stood at S$208.9m
(US$151.4m) versus S$204.5m a year earlier.
Net profit was flat at S$91.1m.The Singaporean bourse said that revenues
from its derivatives business were up 21% to
S$97.7m, accounting for almost half of group
revenues. The exchange operator attributed
this to heightened volatility, leading to an
increase in activity for FTSE China A50 futures
and foreign exchange futures contracts in
particular.
Meanwhile, revenues from listings fell 14% to
$11.1m with total proceeds from new equity
listings plummeting to S$0.2bn from S$2.7bn a
year ago.
At the end of June SGX allowed companies with
dual-class shares to list in the city in a bid to
attract more listings from overseas, although
so far there have been no IPOs from companies
with DCS structures.
Jubilant Pharma, a subsidiary of Indian
pharmaceuticals company Jubilant Life
Sciences, started preliminary investor meetings
for a US$500m SGX IPO earlier this month and
is considering a DCS structure.
SGX said that securities trading and clearing
revenues decreased by 8% to S$46.9m during
Q1. Expenses rose 4% to S$102.5m, mainly due
to higher staff costs.Please send job moves to
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