Silverlake Axis' wholly owned insurance processing subsidiary, Merimen Ventures, has won five new accounts in three Asian markets that are expected to contribute positively to the results of the fintech services provider in its current and following financial years.
In Singapore, Merimen added two accounts, bringing the total customer count here to 21.
One account was added in Indonesia, and two in Hong Kong.
None of the directors or substantial shareholders of Silverlake Axis has any interest, directly or indirectly, in the above contracts other than through their respective shareholdings in the company, said Silverlake Axis in a Singapore Exchange filing after trading hours.
Fullerton Fund Management
Temasek Holdings' Fullerton Fund Management yesterday said its unit, Fullerton Investment Management (Shanghai), has launched its first private fund in China, to invest mainly in China A stocks.
The product - Fullerton Absolute Return China A Strategy Series 1 Private Fund - is managed by Fullerton Shanghai.
It is distributed through brokerage China Galaxy Securities and is available to high net worth individuals and institutional investors.
Fullerton chief executive Jenny Sofian said the fund "reinforces Fullerton's investment credentials" as it looks to offer its investment capabilities to qualified Chinese investors.
As of Dec 31, Fullerton's assets under management stood at $17.9 billion, the company said.
Parkway Life Reit
The manager of Parkway Life Real Estate Investment Trust (Reit), Parkway Trust Management, has priced 3.5 billion yen (S$43 million) of six-year, senior unsecured notes at a coupon of 0.65 per cent under an existing $500 million multi-currency debt issuance programme. The notes issue is expected to be completed on Feb 26.
Proceeds from the bonds, which will be sold at par and mature on Feb 26, 2024, will be used to refinance existing borrowings of Parkway Life Reit.
DBS Bank has been appointed the sole lead manager and bookrunner for the notes.
"With the US Federal Reserve signalling the possibility of more interest rate hikes this year, it is crucial to timely term out Parkway Life Reit's maturing loans to mitigate refinancing risks," said Parkway Trust Management chief executive Yong Yean Chau.