Handbook of Singapore — Malaysian Corporate Finance - 1st Edition - ISBN: 9780409995480, 9781483105864

Handbook of Singapore — Malaysian Corporate Finance

1st Edition

Editors: Tan Chwee Huat Kwan Kuen-Chor
eBook ISBN: 9781483105864
Imprint: Butterworth-Heinemann
Published Date: 1st January 1970
Page Count: 368
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Description

Handbook of Singapore – Malaysian Corporate Finance discusses topics that are relevant to the acquisition of funds by Singaporean and Malaysian corporations. The book is comprised of 19 chapters that cover the domestic sources of corporate funding and various aspects of international finance. The coverage of the text includes financial institutions and markets; exchange-rate systems and policies; and the role of Singaporean and Malaysian stock exchanges. The book also deals with the taxation aspects of corporate finance; the futures market; and financing from overseas. The text will be of great use to financial managers, bankers, and professional investors who want to be more aware of the Singaporean and Malaysian corporate finance.

Table of Contents


Preface

Contributors

1 The Corporate Funding Decision

1.01 Introduction

1.02 Financial Objectives of the Firm

1.03 The Basic Issue: Returns and Risks

1.04 Short-Term Funding Decision: Current Liability Management

1.05 Long-Term Funding Decision: Capital Structure

1.06 Cost of Capital

2 Financial Institutions and Markets

2.01 Introduction

2.02 Financial Institutions in Singapore

2.03 The Capital Market in Singapore

2.04 The Foreign Exchange Market in Singapore

2.05 Financial Institutions in Malaysia

2.06 The Capital Issues Committee

2.07 The Kuala Lumpur Stock Exchange

2.08 The Kuala Lumpur Commodity Exchange

3 Interest Rates and Credit

3.01 Introduction

3.02 Interest Rates

3.03 Money, Credit and Monetary Policy

3.04 Practical Guide to Interest Rate Determination

3.05 Immunizing Interest Rate Risk

3.06 Conclusion

4 Exchange-Rate Systems and Policies

4.01 Introduction

4.02 Choice of an Exchange-Rate System

4.03 Factors Leading to Singapore's Decision to Float its Dollar in 1973

4.04 Formulation of Exchange-Rate Policy in Singapore

4.05 Implementation of Exchange-Rate Policy

4.06 Revival of the Gold Standard

5 Role of Singapore and Malaysian Stock Exchanges

5.01 Introduction

5.02 Development of the SES

5.03 Structure and Operations of the SES

5.04 Development of the KLSE

5.05 Regulation of the Securities Industry

5.06 Functions of the New Issue Market and the Secondary Market

5.07 Patterns of Share Ownership

5.08 Efficiency of the Equity Market

5.09 Costs and Pricing of New Equity Issues

5.10 Financial Characteristics of Listed Companies

5.11 Capital Investment Decisions

6 Raising Equity Capital

6.01 Introduction

6.02 Flotation of a Business

6.03 Distinction between a Public Issue and a Private Placement

6.04 Public Issues (Ordinary Shares) (1981-85)

6.05 SES Listing Requirements

6.06 Criteria for Listing on the First Trading Section

6.07 Continuing Listing Requirements/Corporate Disclosure Policy

6.08 Raising of Further Capital after Listing

6.09 Role of Managers and Underwriters

6.10 Public Documents/Circulars

6.11 Processing Time and Costs of Flotation

6.12 Listing Requirements of the KLSE

6.13 Conclusion

7 Unit Trusts

7.01 Introduction

7.02 Basic Features of a Unit Trust

7.03 Mechanics of Investing in Unit Trusts

7.04 Types of Funds Operated by Unit Trusts

7.05 Risk-Adjusted Performance of Unit Trusts

7.06 Attractive Features of Unit Trusts

7.07 Who Should Invest in Unit Trusts

7.08 Summary and Conclusions

8 Venture Capital

8.01 Introduction

8.02 Development of Venture Capital

8.03 Characteristics of the Venture Capital Process

8.04 Venture Capital in Singapore

8.05 Private Venture Capital Activities in Singapore

8.06 Venture Capital in Malaysia

8.07 Assistance Schemes for Small Businesses and Entrepreneurs in Malaysia

9 Mergers and Acquisitions

9.01 Introduction

9.02 Acquisitions in Singapore and Malaysia

9.03 Types of Takeover

9.04 Potential Gains of Takeovers

9.05 The Regulatory Environment

9.06 Pricing of the Shares of Takeover Targets

9.07 Impact of Takeovers on the Acquiring and Target Companies

9.08 Summary and Conclusions

10 Commercial Bank Finance

10.01 Introduction

10.02 Lending Criteria

10.03 Sources of Finance

10.04 Security

10.05 Conclusion

11 Equipment Leasing

11.01 Introduction

11.02 What is Leasing

Part I Lease Transactions

11.03 A Typical Lease Transaction

11.04 Types of Lease

11.05 Reasons for Leasing

11.06 Negotiating a Lease

11.07 Evaluating a Lease Transaction

Part II The Singapore Leasing Industry

11.08 Historical Background

11.09 Structure and Legislation

11.10 Finances

11.11 Marketing

12 Factoring and Accounts Receivable Financing

12.01 Introduction

12.02 Factoring

12.03 Factoring Sources in Singapore and Malaysia

12.04 Laws Governing Factoring

12.05 Factoring Companies and Commercial Banks

12.06 Clients and Industries Suitable for Factoring

12.07 Types of Factoring Facility

12.08 Market Potential

12.09 Competition

12.10 Marketing and Operating Strategies

12.11 Conclusion

13 Financing from Overseas

13.01 Introduction

13.02 Reasons for Overseas Financing

13.03 Sources of Overseas Financing

13.04 Types of Overseas Financing

13.05 Conclusion

14 International Trade Finance

14.01 Introduction

14.02 Payment Terms in International Trade

14.03 Basic Documents Used in International Trade

14.04 Documentation of a Typical International Trade Transaction

14.05 Other Sources of International Trade Financing

14.06 Counter-trade

15 Export Credit Insurance

15.01 Introduction

15.02 What is Export Credit Insurance

15.03 Why Credit Insure

15.04 Export Credit Insurance and International Trade Finance

15.05 Sources of Export Credit Insurance

15.06 Conclusion

16 The Foreign Exchange Market

16.01 Introduction

16.02 Foreign Exchange Markets in Singapore and Malaysia

16.03 Foreign Exchange Transactions

16.04 Value Dates

16.05 Exchange Rate Quotations

16.06 Calculation of Forward Exchange Rates

16.07 Cross Rates

16.08 Arbitrage

16.09 Linkage Between Spot and Forward Markets

16.10 Currency Futures

17 The Futures Market

17.01 Background of Global Futures Exchanges

17.02 Nature of Futures Contract

17.03 Advantages over Cash Market

17.04 Users and Uses

17.05 Raison d'être for SIMEX

17.06 Birth of SIMEX

17.07 New Organizational Structure

17.08 Membership

17.09 The Mutual Offset System

17.10 The Clearing House and Financial Safeguards

17.11 The Common Bond System and Financial Integrity

17.12 Margins and Financial Losses

17.13 Regulation

17.14 Promotional Strategies: Marketing, Incentives and Training

17.15 Benefits Arising from the CME Link

17.16 Future Developments

18 Options

18.01 Introduction

18.02 Put and Call Options

18.03 Valuation of Call and Put Options

18.04 The Black-Scholes Call Option Valuation Formula

18.05 Option Trading Strategies

18.06 Option and Futures Market

19 Taxation Aspects of Corporate Finance

19.01 Introduction

19.02 Taxation Bases of Local Providers of Capital

19.03 Taxation Basis of Alternative Operating Structures

19.04 Debt and Equity Funding

19.05 Taxation Aspects of Foreign Borrowings

19.06 Mergers and Acquisitions

19.07 Taxation of Dividends and Dividend Policy

19.08 Alternative Forms of Income

19.09 Leasing

Index

Details

No. of pages:
368
Language:
English
Copyright:
© Butterworth-Heinemann 1988
Published:
Imprint:
Butterworth-Heinemann
eBook ISBN:
9781483105864

About the Editor

Tan Chwee Huat

Kwan Kuen-Chor