Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near Changi Airport — to enhance vaulting infrastructure for gold storage , according to sources familiar with the discussions. The Monetary Authority of Singapore confirmed it is considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract central banks , which collectively hold around 39,000 tonnes of gold , accounting for roughly 18% of global supply , according to the World Gold...
Chinese IT Firm Picks Banks for Second Listing Amid China’s Market Shift
- Unisplendour Corp, a Beijing-based IT services provider, is planning a second listing in Hong Kong to raise around US$1 billion (RM4.42 billion) to fuel its overseas expansion.
- BNP Paribas SA, China Merchants Bank International, and CSC Financial Co have been tapped as lead banks for the offering, with more banks potentially joining the deal.
- The company confirmed it is exploring equity financing in Hong Kong but has not finalized the plan or a listing timeline.
China’s IPO Shift to Hong Kong
- Chinese firms are increasingly turning to Hong Kong for capital as China limits domestic stock sales to stabilize its equity market.
- Other major Chinese companies seeking Hong Kong listings include:
- Contemporary Amperex Technology Co Ltd (CATL) – the world’s largest battery maker
- Jiangsu Hengrui Pharmaceuticals Co – a major drugmaker
- Foshan Haitian Flavouring & Food Co – a leading condiment producer
- These deals support Hong Kong’s IPO revival, with 2025 listings projected to more than double to US$22 billion, as market confidence improves following a 17% rise in the Hang Seng Index.
Unisplendour’s Market Position & Growth Strategy
- The company specializes in cloud computing, software development, servers, and storage systems.
- Its Shenzhen-listed shares have risen 12% in 2025, valuing the company at approximately 90 billion yuan (RM54.85 billion).
Hong Kong’s IPO Rebound
- The influx of Chinese firms listing in Hong Kong signals confidence in the city’s financial market recovery.
- Higher valuations and regulatory easing could further boost IPO activity, making Hong Kong a preferred listing destination for Chinese firms eyeing global expansion.
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