Moody's Investors Service
ASIA PACIFIC WEEKLY
Feb 14 - 21, 2018
 

This week we assess the 2017 results of Singapore’s three largest banks, with all entities reporting stronger profitability on the back of higher interest rates and growth in non-interest income.

In Australia, we look at the regulator’s proposed changes to its capital framework for authorized deposit-taking institutions (ADIs), which we expect will better align capital and asset risks in loan portfolios. A particularly significant element of the proposed regime is a reform of the capital treatment of residential mortgage portfolios, with higher-risk loan segments facing higher capital requirements.

And our annual credit analysis for Malaysia highlights a large and diversified economy, ample natural resources and robust medium-term growth prospects. However, elevated system-wide leverage – including in the household sector – poses credit challenges.

On the events front, our 2018 Australian Credit Conference will take place in Melbourne on 6 March and in Sydney on 8 March.

 

Best regards,

MinYe

Min Ye
Managing Director – Regional Head Asia Pacific

To access the information within this email we ask that you register to Moodys.com. Registration is complimentary.

 

 
In This Edition
 

RESEARCH

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Government of Malaysia – A3 stable: Annual credit analysis
[20 Feb] Malaysia's credit profile is supported by its large and diversified economy, ample natural resources and robust medium-term growth prospects. However, elevated system-wide leverage — including in the household sector — poses credit challenges.

Banks: Australian regulator’s proposed changes to capital framework are credit positive for banks
[19 Feb] A particularly significant element of the new regime is a reform of the capital treatment of residential mortgage portfolios, with higher-risk loan segments facing higher capital requirements.

Banks - Singapore: 2017 results show improved capital and profitability amid a quickened pace of asset cleanup
[15 Feb] Singapore's three largest banks by assets reported stronger profitability in 2017, driven by higher interest rates an good growth in non-interest income.

Moody’s Credit Outlook on 15 and 19 February

[19 Feb] Australian regulator’s proposed changes to capital framework are credit positive for banks; Nippon Yusen’s ¥2 billion charge after embezzlement is credit negative; Genpact’s increase in dividends is credit negative.

[15 Feb] Potential SoftBank tie-up is credit positive for Swiss Re as technology challenges reinsurers; KEB Hana Bank launches an open banking platform, a credit positive; China General Nuclear’s proposed share offering is credit positive.

 

RATING EVENTS

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AUSTRALIA
[19 Feb] Moody's affirms Woodside's ratings, changes outlook to stable
[15 Feb] Moody's assigns definitive ratings to NAB's first RMBS transaction for 2018

BANGLADESH
[15 Feb] Moody's affirms Banglalink's Ba3 ratings; outlook stable

CHINA
[19 Feb] Moody's assigns provisional ratings to Bluestone Group's first non-conforming RMBS transaction for 2018
[15 Feb] Moody's assigns definitive ratings to JIMZ-Series7/Investment Condo RMBS

HONG KONG
[15 Feb] Moody's affirms Prime-1 rating on China International Marine Containers (Hong Kong) Limited's CP program following amendment

INDIA
[20 Feb] Moody's places Punjab National Bank's ratings under review for downgrade

JAPAN
[16 Feb] Moody's assigns A1 issuer rating to Toyota Industries; outlook stable
[16 Feb] Moody's assigns Ba1 rating to JFE Holdings' subordinated loan

SINGAPORE
[16 Feb] Moody's extends reviews for upgrade on DBS, OCBC and UOB's Tier-2 point of non-viability debt ratings

 


 

ANNOUNCEMENTS

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AUSTRALIA
[21 Feb] Moody's: BHP's first half fiscal 2018 performance is credit positive
[15 Feb] Moody's: Origin's half year results are credit positive, ratings unaffected
[15 Feb] Moody's comments on Telstra's first half 2018 results

CHINA
[14 Feb] Moody's: Baidu's ratings unaffected by full year 2017 results; financial buffer increases
[14 Feb] Moody's: Profit warning from BAIC Group's subsidiary is credit negative, but has no immediate rating impact
[14 Feb] Moody's: Sunny Optical's expectation of improved profit for 2017 supports
Baa2 rating

KOREA
[14 Feb] Moody's: Imprisonment of Lotte chairman is credit negative for Lotte Shopping

 


 

MOODY'S EVENTS

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Moody’s 2018 Australian Credit Conference: Improving economy underpins all sectors, but rising rates and commodities could challenge some issuers
Melbourne, 6 March
Sydney, 8 March

 


 

MOODY'S TRAINING SEMINARS

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HONG KONG
Corporate Credit Rating Analysis, 28 Feb-2 Mar
Insurance Credit Analysis, 5-7 Mar
Advanced Financial Statement Analysis, 19-21 Mar
Enterprise Risk Management in Banks, 5-6 Apr
Problem Credits: Early Warning Signs and Effective Actions, 9-10 Apr
Advanced Corporate Credit Analysis, 11-13 Apr
Advanced Bank Risk Analysis, 2-4 May
Corporate Debt Restructuring, 3-4 May
Corporate Cash Flow Analysis, 8-10 May
Analyzing Sovereign and Country Risk, 8-9 May
Corporate Credit Rating Analysis, 9-11 May
Fundamentals of Bank Credit Risk Analysis, 10-11 May
Covenants & Documentation, 4 Jun
Fundamentals of Corporate Credit, 11-14 Jun
Advanced Corporate Credit Analysis, 16-18 Jul
Counterparty Credit Risk, 14-15 Aug
Introduction to Derivatives, 16-17 Aug
Bank Regulation: Impact and Implications of Evolving Regimes, 16-17 Aug
Advanced Corporate Credit Analysis, 29-31 Aug
Insurance Credit Analysis, 10-12 Sep
Corporate Cash Flow Analysis, 9-11 Oct
Advanced Bank Risk Analysis, 29-31 Oct
Corporate Credit Rating Analysis, 31 Oct-2 Nov
Analyzing Sovereign and Country Risk, 1-2 Nov
Moody’s Project Finance Masterclass, 3-5 Dec

SINGAPORE
Insurance Credit Analysis, 26-28 Feb
Advanced Financial Statement Analysis, 14-16 Mar
Moody’s Credit Masterclass, 19-23 Mar
Advanced High Yield Rating Analysis, 3-4 Apr
Counterparty Credit Risk, 3-4 Apr
Analyzing Sovereign and Country Risk, 16-17 Apr
Advanced Bank Risk Analysis, 18-20 Apr
Fundamentals of Corporate Credit, 23-26 Apr
Bank Regulation: Impact and Implications of Evolving Regimes, 26-27 Apr
Corporate Credit Rating Analysis, 2-4 May
Risk Culture Building, 12-13 Jun
Corporate Cash Flow Analysis, 12-14 Jun
Structured Finance, 20-22 Jun
Fundamentals of Bank Credit Risk Analysis, 16-17 Oct
Bank Regulation: Impact and Implications of Evolving Regimes, 18-19 Oct
Advanced Bank Risk Analysis, 19-21 Nov
Analyzing Sovereign and Country Risk, 22-23 Nov
Corporate Cash Flow Analysis, 27-29 Nov
Corporate Credit Rating Analysis, 27-29 Nov
Covenants & Documentation, 30 Nov
Fundamentals of Corporate Credit, 11-14 Dec

SYDNEY
Insurance Credit Analysis, 11-13 Jun
Fundamentals of Bank Credit Risk Analysis, 14-15 Jun
Fundamentals of Corporate Credit, 28-31 Aug
Insurance Credit Analysis, 3-5 Sep
Analyzing Sovereign and Country Risk, 6-7 Sep
Fundamentals of Bank Credit Risk Analysis, 29-30 Nov

TOKYO

Analyzing Sovereign and Country Risk, 15-16 Mar
Fundamentals of Bank Credit Risk Analysis, 10-11 Apr

 


  CONTACT US Back to top button  
 

Asia Pacific Client Desk
Research & Subscriptions
+852.3551.3077

Kelly Moy
Associate Managing Director
North Asia
+852.3758.1323

Vineet Gupta
Vice President
India
+91.750.625.0104

Cynthia Zhao
Senior Vice President
North China - Beijing
+86.10.6319.6566

Maria Lee
Senior Vice President
South China - Hong Kong
+852.3758.1338

James Flitton
Vice President
Singapore
+65.6398.8338

Yasushi Furuya
Vice President
Japan
+81.3.5408.4272

 


 

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