UOB Sydney issues record Abn bond for a Singapore issuer | FinanceAsia

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UOB Sydney Branch has priced a A$2 billion ($1.28 billion) three-year senior floating-rate bond on February 21  – the largest-ever Australian dollar issuance from a Singapore issuer.

The pricing of the floating rate instrument, at 0.65% above the three-month Bank Bill Swap Rate (BBSW), also represents the tightest spread achieved by any Asian bank for an issuance above A$1 billion, according to a ANZ media release.


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FinanceAsia Awards 2025 — open now | FinanceAsia

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The FinanceAsia team is delighted to open submissions to the 29th edition of our annual flagship Awards, the FinanceAsia Awards 2025, which recognise the best banks, brokers, rating agencies, consultants, law firms and non-bank financial institutions across the region.

In 2024 markets grappled with significant challenges, including higher than expected interest rates, a slow Chinese economy and several high-profile elections.

On a more positive note, the year saw a number of large M&A deals, IPOs and bond offerings, with markets such as India and Japan performing particularly well. A combination of new technology, such as artificial intelligence (AI), data centres, and the drive towards net zero, will continue to be seen as key investment opportunities in the region.

The FinanceAsia team is once again inviting market participants to showcase their capabilities when supporting clients. We want to celebrate those institutions that have shown a determination to deliver desirable outcomes for their clients, through a display of commercial and technical acumen.

We look forward to meeting the winners and highly commendeds at the FinanceAsia Awards Ceremony in June.

Enter now here: https://bit.ly/3Ptn5KA.

Key Dates

Launch date: January 14, 2025

Entry and submission deadline: February 27, 2025

Winners announced: Week of April 7, 2025 

Awards ceremony / gala dinner: June 26 

Eligibility period: All entries should relate to acheivements from the period January 1, 2024 to December 31, 2024 


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Current balance of GRCs and SMCs ensure effective representation by MPs: Chan Chun Sing 

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Mr. Chan said there is” an asymptotical control to asking EBRC to preserve reducing the average length of GRCs,” with the exception of one where all political divisions are SMCs, during the political controversy on the budget of the Prime Minister’s Office.

By maintaining a balance between the percentage of GRCs and SMCs, Mr. Chan, who is also minister of education, said,” The present terms of reference provide some stability in our political environment.”

” In the coming congress, MPs will continue to serve and reflect their constituents efficiently by serving a broadly comparable number of electors on common as the last election.”

Ms. Poa, who is the Party’s secretary-general, even inquired if the prime minister felt it was necessary to clear the EBRC to “provide more transparency” on the causes of boundary changes. She added that this would “help with establishing people trust.”

In response, Mr. Chan claimed that this was exhaustively discussed during a discussion about the political motion that the NCMPs of PSP filed in August of last year.

The secretary said,” We do not want to repeat the discussion today.” &nbsp,

It suffices to say that we should refrain from imposing very restrictive requirements or instructions on the EBRC and instead give the agency, which consists of senior civil servants with relevant expert knowledge and expertise, the freedom to perform their work independently and without fear or favor.

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Mother, son jailed 2 weeks for lying to IRAS over ’99-to-1′ property purchase

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SON BURNED CONDO IN HER NAME FIRST.

The pair’s crimes relate to the purchase and sale of a condo building at 49 Canberra Drive. &nbsp,

They both understood that Tan was unemployed and therefore unsuitable, and that he could only buy a home if Ng took out a mortgage. Ng had to be a legitimate lender in order for this to occur. &nbsp,

Both of them were aware, however, that they would have to pay for ABSD in total when they bought the house in bulk. &nbsp,

To prevent doing but, Tan bought the house in his name on Sep 24, 2021 for S$ 1, 113, 000. He sold a 1 % stake in the house to Ng for S$ 11,130 three days later. &nbsp,

She paid ABSD for 1 % of the purchase because she was the owner of a personal residence at the time. A housing product was afterward given to them. &nbsp,

IRAS then conducted an audit to determine whether the two had avoided paying ABSD. &nbsp,

The couple then plotted to defraud IRAS and reveal misleading details in order to avoid being discovered, ignoring their instructions regarding lying. &nbsp,

DELETED Information

Tan claimed that he made the hurried decision to purchase the home knowing that his home would provide for him financially. &nbsp,

He claimed that his family was unable to do so in the future, but Ng had to be added as a shared user to obtain a loan. &nbsp,

When Ng and a banker asked to give him his messages, Tan replied that he had deleted the ones they thought would reject their lies. He then provided insufficient messages. &nbsp,

The ABSD of S$ 130, 779, and the 50 % tax of S S$ 65, 389 would have been avoided if IRAS had accepted the reason and been deceived. &nbsp,

In 2024, both parties admitted the offense and made amends. &nbsp,

In response to the falsehoods, IRAS raided the accused people’s homes, seizing wireless devices, and keeping records of the lender and house agent’s statements.

The pair “wove a web of lies” and “bolstered the deception” by providing a collection of carefully chosen messages, according to older income prosecutor Goh Yong Ngee. &nbsp,

After going through each message, they deleted 109 overall, according to Mr. Goh.

Amolat Singh, the pair’s attorney, claimed that his clients had stumbled into” a minefield” rather than intended to mislead. However, Mr. Goh claimed that both parties had rather attempted to navigate and avoid the quagmire. &nbsp,

Due to the two parties having discussed the cover-up, District Judge Chay Yuen Fatt noted that there was obvious manslaughter.

The prosecutor also considered the work required to conduct an investigation into the crimes. &nbsp,

A maximum sentence of two years in prison, a fine of up to S$ 10,000, or both are applicable for each crime. &nbsp,

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Singapore on track to reach 2030 solar deployment goal, remains ‘fully committed’ to climate action: Teo Chee Hean

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Mr. Teo emphasized that switching to clean energy is becoming more affordable, with the regular levelized cost of solar energy now 50 % lower than that of fossil energy worldwide. &nbsp,

He said,” This explains why two-thirds of the global energy expenditure went to wash energy infrastructure and technology in 2024.”

One of Singapore’s four key” valves” is renewable energy, which is the country’s most affordable source of renewable energy by 2050. Natural gas, local electricity grids, and low-carbon choices are the other three. &nbsp,

According to the Energy Market Authority, renewable energy may finally enable Singapore to meet about 10 % of its 2050 projected energy demand. &nbsp,

Mr. Teo even touched on Singapore’s efforts to adopt nuclear power. &nbsp,

In his speech in the Budget 2025, Lawrence Wong stated that the nation was considering the possible use of advanced nuclear power systems. &nbsp,

Singapore’s plan to build a pool of about 100 nuclear power and safety experts was previously stated.

It currently has over 40 experts in this field, according to Mr. Teo. His top priority for the upcoming years will be to collaborate with its partners to assess the potential for the safe use of advanced nuclear power technology in Singapore.

LOW-CARBON Solutions ADAPTING

According to Mr. Teo, it is necessary to adopt novel and creative solutions to help Singapore achieve its long-term climate targets. &nbsp,

As it waits for these energy to be commercially viable at size, Mr. Teo noted that the nation has also started using renewables, such as sustainable aviation fuel, and is also developing skills to build hydrogen and acid, including through small, pilot-scale jobs.

He added that the S$ 5 billion addition to the Future Energy Fund, which was announced during this year’s resources talk, will support and invest crucial infrastructure assets. &nbsp,

Singapore is also look for opportunities in the offshore wind industry as the need for low-carbon goods and services rises, according to Mr. Teo. &nbsp,

By 2030, the world offshore wind market is projected to grow to US$ 126 billion annually. &nbsp,

” Singapore businesses in the oil and gas sector are now having success in turning to provide crucial goods and services throughout the offshore wind worth ring,” according to the report.

Move:” Noisy AND UNEVEN”

According to Mr. Teo, Singapore also signed an Application Partnership on Carbon Credits with Bhutan in accordance with Article 6 of the Paris Agreement. &nbsp,

Singapore’s first deal with a carbon-neutral nation is this. Similar partnerships with Papua New Guinea and Ghana, as well as Memorandums of Understanding with more than 15 different nations, had formerly been signed. &nbsp,

These “win-win” partnerships will encourage the creation of carbon prevention initiatives in these nations while supporting our efforts to meet our emissions goals, he said. &nbsp,

Mr. Teo claimed that keeping global warming below 1.5 degrees Fahrenheit even required additional nations to complete their part, despite Singapore’s numerous goals in place to help it reach its net-zero goal. &nbsp,

The move is likely messy and uneven, and it won’t be simple. The reality is that the international community will make progress, but it may not all of us reach the 1.5 level goal, he warned.

Singapore needs to prepare for rising sea levels as a low-lying island nation, he said, adding that$ 5 billion will be put aside to supplement the coastal and flood protection fund in the coming decades. &nbsp,

We are weather nihilists, not zealots or climate scientists. What other nations will or won’t complete could we be certain of. However, by doing our part, we did secure Singapore’s coming by ensuring its potential.

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The largest-ever Australian dollar issuance from a Singapore issuer was announced by UOB Sydney Branch on February 21. The bond is A$ 2 billion ($ 1.28 billion ) three-year senior floating-rate bond.

According to a ANZ media release, the floating rate instrument’s pricing, which is 0.65 % above the three-month Bank Bill Swap Rate ( BBSW), also represents the tightest spread any Asian bank has achieved for an issuance above A$ 1 billion.

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