Handbook of Singapore — Malaysian Corporate Finance

Handbook of Singapore — Malaysian Corporate Finance

1st Edition - January 1, 1970

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  • Editors: Tan Chwee Huat, Kwan Kuen-Chor
  • eBook ISBN: 9781483105864

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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


    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


Product details

  • No. of pages: 368
  • Language: English
  • Copyright: © Butterworth-Heinemann 1970
  • Published: January 1, 1970
  • Imprint: Butterworth-Heinemann
  • eBook ISBN: 9781483105864

About the Editors

Tan Chwee Huat

Kwan Kuen-Chor

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