| From a simple technique for creating synthetic securities through applying interest rate or currency swaps to eurobonds alone, repackaging has developed into a global market through which almost any asset which generates a predictable cashflow is capable of being transformed into a security. The purpose of such repackagings is to enable investors to access markets and to invest in specific assets that, for tax or regulatory reasons, they may be unable or unwilling to do directly. Repackagings also allow investors to invest in synthetic assets - for example, US dollar bonds backed by Thai Baht bills of exchange. This inaugural edition, sponsored by Simmons & Simmons, features a series of overview articles on the fundamentals supporting repackaging transactions, including an assessment of taxation issues. The Guide also contains in-depth reports on selection markets in Asia, examining legal frameworks, the granting of security, taxation, regulatory and accounting guidelines, and market outlooks. Table of Contents: OVERVIEW I
What is asset repackaging?
International Finance Group,Simmons & Simmons, Hong Kong. OVERVIEW II
Underlying assets and note structures
International Finance Group,Simmons & Simmons, Hong Kong. OVERVIEW III
Taxation issues
Charles Kinsley, KPMG Peat Marwick, Hong Kong. OVERVIEW IV
The role of the trustee
International Finance Group, Simmons & Simmons, Hong Kong. MARKET SUMMARY
Hong Kong
International Finance Group,Simmons & Simmons, Hong Kong. MARKET SUMMARY
Japan
Mitsui, Yasuda, Wani & Maeda, Tokyo. MARKET SUMMARY
Korea
Joon Park and Yong-H.C. Kim, Kim & Chang, Seoul. MARKET SUMMARY
Malaysia
Steffani Lee-Teng Yap, Chooi & Company, Kuala Lumpur. MARKET SUMMARY
The PRC
International Finance Group, Simmons & Simmons, Shanghai & Hong Kong. MARKET SUMMARY
Singapore
Tan Tze-Gay and Stephen Lau, Allen & Gledhill, Singapore. MARKET SUMMARY
Thailand
Pradit Sahachaiyunta, Sathit Sulagaesuan and Thanabodhi Swasdisri, International Legal Counsellors Thailand Limited, Bangkok. Defaults under repackaged notes
International Finance Group, Simmons & Simmons, Hong Kong. Contacts |
