NetLink meets analysts ahead of S$2b IPO
its policy statement were merely guidelines.
“The amount of our bond purchases may vary depending on financial market conditions at the time. But this has no implications on monetary policy going forward.”
Kuroda said economic recovery in Japan was taking hold more firmly but warned that overseas developments, such as uncertainty over the United States economic policies, remained the biggest risks to its outlook.
“While global economic growth is gaining momentum, various uncertainties remain” that could weigh on Japanese consumer and corporate sentiment, he said.
The government and the BoJ must work together to seek an appropriate mix of fiscal and monetary policy measures to ensure the recovery was sustained, said Kuroda.
But he added that it was “unnecessary and inappropriate” for the BoJ to bankroll government debt and directly finance fiscal spending, an idea proposed by some academics who call for more radical measures to reflate Japan’s economy.
At its most recent meeting on April 26-27, the BoJ maintained its short-term interest rate target at minus 0.1 per cent and a pledge to guide 10-year government bond yields around zero per cent.
It also maintained a loose pledge to buy government bonds at a rate that would increase its holdings by 80 trillion yen a year. Reuters SINGAPORE: NetLink Trust, the fibre broadband network provider backed by Singapore’s biggest phone firm, started briefing analysts this week ahead of an initial public offering (IPO) that could raise at least S$2 billion (RM6.08 billion), said people with knowledge of the matter.
The arm of Singapore Telecommunications began meeting research analysts to explain its business model, which would later be followed by meetings with potential investors, they said.
NetLink, which announced on Monday the government had cut most of its prices, had been discussing a potential annual dividend yield of about four to five per cent, said the people.
Terms of the offering had not been set yet and NetLink was targeting to complete the IPO by July, they said.
At S$2 billion, the IPO would be the biggest here since Hutchison Port Holdings Trust’s March 2011 offering, according to data.
First-time share sales in Singapore had raised S$225 million so far this year, data show. Bloomberg
Bank of Japan (BoJ) governor Haruhiko Kuroda says it is very important to explain in easy-to-understand terms how monetary policy could affect the bank’s financial health.