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The 6th Asian Bond Markets Summit

Monday, 14 November 2011

Raffles City Convention Centre, Singapore

2010 was a watershed year for Asia's bond markets. Record activity in both offshore and onshore markets reflects the sharp and swift recovery of the region, an oasis of safety in a world that is still largely troubled by the financial crisis 24 months ago. And it is not just the volume of activity that was notable in the past 12 months. Asia emerged from the crisis taking on a new role in the global financial order. Today it acts both as a magnet and a reservoir of capital: global investors are turning their attention to the Asian markets attracted largely by better credit fundamentals and positive yields; the most recognized global issuers, on the other hand, are tapping Asia's bond markets as a new and alternative source of financing not seen in the past decade.

In short, Asia's markets have reached an inflection point. A confluence of events has made the region's emergence as a credible centre of capital markets development. As this rising tide of confidence gathers pace, it is vital that the region is able to leverage on this success to bring to bear critical changes that can sustain this positive momentum. Asia needs to build better markets and policy makers will have to re-energize reform initiatives and respond to the new reality.

The Asset Forum, in association with the Asian Development Bank, is pleased to invite you to The 6th Asian Bond Markets Summit, which will be held on Monday, 14 November 2011 at the Raffles City Convention Centre, Singapore. The theme of this year's event is Gathering Momentum. The Summit brings together policymakers, Asian issuers and global institutional investors in one event for an interactive discussion and debate on the development of Asia's capital markets.

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The 6th Asian Bond Markets Summit - Confirmed speakers and panellists

Bindu N Lohani, vice-president (finance and administration), Asian Development Bank Ramin Toloui, EVP and co-head of the emerging markets portfolio management team, PIMCO Isabelle Girolami, managing director, head of global markets, Southeast Asia, Standard Chartered Bank Noritaka Akamatsu, deputy head, office of regional economic integration, Asian Development Bank Anthony Michael, head, fixed income, AP, Aberdeen Asset Management Goh Wee Peng, CIO, fixed income, funds management division, AmBank Management Neeraj Seth, head, Asian credit, BlackRock Sunil Sharma, director, IMF-Singapore Regional Training Institute Hon Cheung, regional director, State Street Global Advisers Aaron Russell-Davison, managing director and head of Asian syndicate Standard Chartered Bank Rafael Consing, treasurer, International Container Terminal Services Inc. Yoon-Yung Kim, CFO, Korea Export Import Bank Mohd Izani Ghani, senior vice-president, Khazanah Nasional Pimpen Ladpli, acting director of Bond Market Development Bureau, MOF Thailand Suanjin Tan, director and portfolio manager, credit strategies, Asian fixed income, BlackRock Cheng Duan Pang, head, fixed income, Manulife Asset Management (Singapore) Nicky Ko, director and head of EMTNs, Asia, Standard Chartered Bank Gary Lau, managing director, corporate finance group, Moody's Philippe Metoudi, member of the executive board, Clearstream Prashant Saran, whole time member, Securities and Exchange Board India Tetsutaro Muraki, president and CEO, TOKYO AIM, Inc. (a subsidiary of the TSE Group) Hans Sicat, president, Philippine Stock Exchange John Espinosa, director, TIAA Cref William Mak, senior vice-president and head of Southeast Asia, Northern Trust Mark Konyn, CEO AP, RCM Edgar B Solilapsi, executive vice-president, investments, Social Security System

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The 6th Asian Bond Markets Summit ­ Topics

Panel 1. Gathering momentum. The state of the Asian economy and the regional bond market. How is the Asian economy doing three years after the global financial crisis? What significant developments/initiatives have the region as an economic bloc and individual markets put in place to meet continuing challenges such as hot money inflows and inflation? What issues affect meeting the objective of a sustainable regional financial market? What is the impact of rising affluence in broadening investment outlets? With various governments across the region pushing for more infrastructure projects, will we see a rise in corporate bond issuances? The retail bond market is generating interest from investors and issuers. How can issuers tap this market?

Panel 2. Onshore and offshore issuers: Here to stay. Issuers from the domestic and foreign markets continue to flock to Asia. While the market has seen issuers of high quality rated paper, there has also been a marked increase in high yield issuers. Another exciting development is the interest in local currency bonds. Banks are big buyers and there has been an exceptional surge in foreign buying, attracted by the bright growth prospects in Asia and investors hoping to profit from the currency appreciation. Which markets are most attractive to foreign issuers and what are their attributes? What have been the approaches of global investors to the Asian market? What have been the experiences of global investors in their fund-raising in Asia?

Panel 3. Market fascination: All things renminbi. The past two years have seen an explosion in the interest of investors, including issuers, in the renminbi. The offshore RMB (CNH) market has attracted such big names from McDonalds's to ADB and IFC. But while the dim sum market is now deemed an alternative source of funding, issues such as repatriation and tenor have been raised as disincentives. What makes the renminbi tick? What will it take for the renminbi to be the reserve currency and how long will it take to be one? How can interest in the CNH market move from being a mere seasonal favourite to a fundamental investment?

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Panel 4. Consolidation of exchanges in Asia: The dream is still alive. Much has been written about the failed SGX-ASX merger. Moving on, what are the prospects of such mergers happening in Asia in the next 12 months? Four Asian exchanges (Singapore, Malaysia, Philippines and Thailand) have moved to build a platform for linking their exchanges for equity trading. Can this be a start to exchange mergers? Setting aside the diversity in the region, and the varied state of development in the individual stock markets, what are the other obstacles to a merger realization? Apart from mergers, how can markets be linked to improve liquidity in the domestic markets?

Panel 5. Capital sources rising: pension funds and sovereign wealth funds. Asia's abundant liquidity and its stable markets ­ compared to its European and North American counterparts ­ have been the key factors in attracting investors. Topping the list of foreign investors coming to the region are

pension funds notably in Europe while large international banks have been busily establishing units to target pension funds and sovereign wealth funds as key business segments. But while pension funds are investing in Asia, this is not deemed as large as its exposure in Latin America. What are the opportunities in this market? What are the unique challenges in tapping these funds? further develop Asia's institutional funds business? How can we

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The 6th Asian Bond Markets Summit

08:00 AM 08:50 AM Registration Opening address Isabelle Girolami managing director, head of global markets, Southeast Asia, Standard Chartered Bank Welcome remarks / Introductory remarks to the keynote speaker Bindu N Lohani vice president (finance and administration), Asian Development Bank Morning Keynote address Ramin Toloui EVP and co-head of the emerging markets portfolio management team, PIMCO Panel 1: Asian Currency Bond Markets: Gathering momentum Coffee break Panel 2: Onshore and offshore issuers: Here to stay Luncheon Introductory remarks to the luncheon speaker Daniel Yu editor-in-chief, The Asset Asian Development Bank presentation: local currency Asian bonds Noritaka Akamatsu deputy head, office of regional economic integration, Asian Development Bank Panel 3: Market fascination: All things renminbi Coffee break Panel 4: Consolidation of exchanges in Asia: The dream is still alive Panel 5: Capital sources rising: pension funds and sovereign wealth funds Closing remarks Asian Bond Awards Cocktail For more information, please contact: Felicia Kong / Nicola Yu Tel: +852.2165.1616 / 2165 1658 Email: [email protected]

09:00 AM

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09:30 AM 10:45 AM 11:05 AM 12:25 PM 01:15 PM

01:25 PM

02:00 PM 03:15 PM 03:35 PM 04:50 PM 06:10 PM 06:30 PM

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