Search results for

Singapore's first listing of a real estate investment trust (Reit), one of its most eagerly awaited deals, has collapsed. The decision to pull the initial public offering (IPO) of SingMall Property was taken in an effort to prevent poisoning the future of the Reit market.

Asia was awash with new equity in 2000, with huge initial public offerings from all corners of the region. The contrast with 2001 could not be starker. Nevertheless, last month's initial public offering (IPO) of the Petroleum Authority of Thailand (PTT) is not to be sniffed at. In fact, it is Asia's second largest this year and is a foretaste of Thailand's privatization programme.

"It has become increasingly clear that public or private financing is a most important lifeline of support for terrorism"

Entry to the WTO means that China must take a hard look at the way it distinguishes between domestic and imported technology. Warren Rothman and Grace Chen of Paul Weiss Rifkind Wharton & Garrison, Beijing, reveal the unlevel playing field for foreign technology providers

Whitney Pidot and former Shearman & Sterling partner, US ambassador to China Clark Randt In a move unprecedented among US firms, Shearman & Sterling has relocated its global managing partner to Asia. Whitney Pidot, who is also a member of the four-man executive committee, has stepped down from the top job to become managing partner for Asia in a move that has left even his New York colleagues surprised.

Money laundering is a key target in the battle to cut off funds to terrorist organizations. In October the US passed legislation to crack down on laundered funds by requiring financial institutions to use strict compliance and due diligence programmes. Danforth Newcomb, Rachel Barnes and Saamir Elshihabi of Shearman & Sterling, New York, explain the implications

In alleged response to an insider bid by 30% shareholder CAIH in the recent contest for control of Hurricane Hydrocarbons, the Hurricane board declared a special dividend payable by way of senior unsecured notes. A controversy arose because the notes contained a change-of-control provision that would be triggered by the acquisition of more than 50% of the Hurricane shares. Upon a change-of-control, the holders of the notes could elect to have the notes redeemed. The net effect was a potential cash depletion of $200 million from Hurricane's cash flow.

Slaughter and May is to benefit from the unexpected defection from Clifford Chance of a 10-lawyer securitization team to independent Italian firm Bonelli Erede Pappalardo.

A number of governmental and international bodies have begun to take action in the so-called "war against terrorism". The IMF, the OECD (through its Financial Action Task Force, or FATF) and the US government have all set down plans to cut off the flow of legitimate and illegitimate to organizations supporting terrorist activities around the world.

Since legislation was first introduced in 1995, the Brazilian tax authorities have been developing their legislation in relation to the taxation of profits earned by Brazilian subsidiaries and associated companies abroad.