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In This List

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India sets P2P lending cap; China mulls reserve requirement ratio cuts

GREATER CHINA

* Hong Kong's Securities and Futures Commission reprimanded and fined Adamas Asset Management (HK) Ltd. HK$2.5 million for its failure to disclose notifiable interests in eight listed companies between February 2013 and March 2016.

* Orient Securities International Holdings Ltd. is facing a possible delisting from the city's stock exchange over concerns that it does not have a sufficient level of operations and assets. The exchange notified the company that it decided to suspend trading in its shares and proceed with the cancellation of its listing.

* Japan's Nomura Holdings Inc. plans to offer wealth management services in China and expand to a full suite of financial services in the next four to five years, The Nikkei reported, citing Toshiyasu Iiyama, head of the firm's in-house China committee. He said Nomura Orient International Securities will expand to Beijing and Shenzhen and increase its headcount to 500.

* The China Banking and Insurance Regulatory Commission is considering either adjusting or removing the minimum limit for banks to sell perpetual bonds to insurance companies, Caixin reported.

* Chinese Premier Li Keqiang said the country is considering cuts in the reserve requirement ratio as well as reductions in relending and rediscounting as part of the government's push to lower financing costs for smaller firms, Reuters reported.

* The People's Bank of China will carry out a feasibility study into the impact of climate change on its macroprudential network, Bloomberg News reported, citing Chen Yulu, the central bank's deputy governor. He also said the People's Bank of China would look into how climate change could affect financial systems as well as the risks associated with it and how policy should respond to it.

JAPAN AND KOREA

* Egypt-based EFG-Hermes Holding SAE and GB Auto (S.A.E.) will acquire a 75% stake in Tokio Marine Egypt Family Takaful Co., the Egyptian unit of Japan-based Tokio Marine Holdings Inc., for 84.75 million Egyptian pounds. The acquisition is subject to regulatory approval.

* Japan's Financial Services Agency issued a business improvement order to Tsuru shinyo kumiai based in Fujiyoshida, Yamanashi Prefecture.

* Hi Investment & Securities Co. Ltd. will raise 100 billion won and 117.5 billion won from the issuance of preferred and common shares, respectively, in private placements. The company will issue the preferred shares Jan. 17, 2020, and the common shares Feb. 24, 2020.

* Meritz Securities Co. Ltd. raised 200 billion won from the issuance of perpetual bonds, which have a 10-year call option, The Financial News reported. The bonds bear a coupon of 4.80%.

* Financial Services Commission Chairman Eun Sung-soo said the South Korean regulator is working to revise the loan–deposit ratio in January 2020 to encourage financial firms to increase lending to small and midsize enterprises, among other corporates, The Korea Herald reported. The commission is also working on adding an evaluation method for intangible assets such as technology to its credit evaluation system.

* SoftBank Corp.'s negotiations to obtain US$3 billion from Japanese lenders as part of its US$9.5 billion rescue package for WeWork Cos. Inc. stalled because Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. hit internal lending limits to SoftBank and are concerned about risks involved in the WeWork rescue.

ASEAN

* The National Mortgage Corp. of Malaysia announced the combined issuance of 1.2 billion ringgit of bonds and sukuk, comprising 600 million ringgit of Islamic commercial papers, 200 million ringgit of conventional commercial papers and 400 million ringgit of Islamic medium-term notes, Malaysia's The Sun reported.

* Umar Aimhanosi Oseni was appointed CEO of The International Islamic Liquidity Management Corp. for a two-year term, effective Jan. 1 2020, Bernama reported. Oseni has served as the organization's acting CEO since Sept. 15, 2018.

* FWD Group Management Holdings Ltd. said it has completed its acquisition of Thailand's Siam City Insurance Co. Ltd., as part efforts to expand its business in Thailand and the region.

* Manila-based Bank of Commerce received approval from the Bangko Sentral ng Pilipinas to issue debt instruments to raise up to 10 billion pesos, the Philippine Daily Inquirer reported. The lender will issue long-term negotiable certificates of time deposit in multiple tranches, with the first tranche due in the first quarter of 2020. Standard Chartered Bank and Philippine Commercial Capital Inc. are the joint lead arrangers.

* The Bangko Sentral ng Pilipinas has granted 36 firms, including PayMaya Philippines Inc. and G-Xchange Inc., permission to operate online payments systems, The Philippine Star reported.

SOUTH ASIA

* Fitch Ratings revised down the outlook on Sri Lanka's long-term foreign-currency issuer default rating to negative from stable amid growing risks to debt sustainability. The country's fiscal policy has moved away from revenue-based consolidation, creating policy uncertainty and raising external financing risks, given the large external debt repayments coming up in 2020 and beyond.

* Lenders holding troubled nonbank financial firm Altico Capital India Ltd.'s debts have called for binding bids from potential investors by January 2020, Bloomberg News reported, citing sources familiar with the matter. The lenders and potential investors, who are waiting for due diligence reports, expect a final decision on the valuation and resolution plan for Altico by the end of next month.

* The Reserve Bank of India said the total exposure of a lender to all borrowers across all peer-to-peer lending platforms will be capped at 5 million rupees. The central bank added that lenders investing more than 1 million rupees will have to provide a certificate from a practicing chartered accountant certifying that it has a net worth of at least 5 million rupees.

* India's Federal Bank Ltd. is collaborating with Magicbricks to list and auction the properties repossessed by the lender in its recovery proceedings, Business Standard reported. The arrangement will help the bank recover dues across 30 major accounts worth 5 billion rupees in the fourth quarter of fiscal 2020.

AUSTRALIA AND NEW ZEALAND

* Bank of Queensland Ltd. said in a filing that it received applications for about A$90 million from investors for its A$25 million share purchase plan. The lender will accept all valid applications with no scale back. The applications remain subject to final reconciliation and clearance of payments. The bank expects the shares to be issued Jan. 2, 2020.

* ASX Ltd. appointed Robert Woods a nonexecutive director, effective Jan. 1, 2020. Woods will be up for election at ASX's annual general meeting in September 2020. The organization also appointed Carolyn Colley a nonexecutive director of its subsidiary clearing and settlement boards.

* AMP Ltd. raised a total of A$275 million through its offering of capital notes 2. The company issued 2,750,000 capital notes at A$100 each.

* Australia & New Zealand Banking Group Ltd. will give staff who are volunteering for emergency services to fight bushfires in Australia special ongoing paid leave credits, The Australian reported, citing Kath Bray, general managing director of its retail banking division, following speculation that the bushfire season could intensify.

IN OTHER PARTS OF THE WORLD

Middle East & Africa: South Africa sanctions 5 banks; Letshego sees higher profit; S&P affirms Lebanon

Europe: Bailey named BoE governor; CaixaBank, BBVA off-load bad loans; new CEO at Carige

Latin America: Argentina downgraded after debt extension; BTG approves share conversion

North America: Activist hedge fund Marcato Capital to shut down; SEC probes NYSE listings

Global Insurance: Moody's downgrades Tianqi Lithium; Anglo granted Minas Rio license

R Sio, Zia Ullah Khan, Emily Lai, Jonathan Cheah, James Lim and Santibhap Ussavasodhi contributed to this report.

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