Data from East & Partners shows a 13.2% drop in export loans in Australia in the period from 2012 through 2014 and is said to pose a challenge for Australian banks.
In a panel on cash strategies, treasury groups and member practitioners divulged their strategies for dealing with what’s coming in 2015, including ditching banks who charge on deposits.
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
A supplier of Apple, GTAT, claims the company told it to “put on your big boy pants” and accept an onerous supply chain finance agreement that drove the company to bankruptcy, a court was told. Experts dispute the story.
Corporates in Indonesia are concerned over new Bank Indonesia rules designed to limit exposures to foreign debt, calling one particular provision “ridiculous”.
StandChart and Ford remit RMB dividends; WPG Holdings and Pentair implement two-way renminbi sweeping in the SFTZ with Stanchart and Citi; Shell awards global RMB mandate to StanChart.