Altering approaches

The repricing of the risk premium in equities, currencies and interest rates across Asia has led many corporates to review their asset-hedging and liability-funding options. Christopher Jeffery reports

Many of Asia's corporations have had a relatively simple life in the past five years. Cheap credit, easy equity financing, stable exchange rates and a benign interest environment - combined with stellar growth in many economies in the region and strong demand for imports from the US and Europe - have enabled corporate profits to grow rapidly.

It seemed that the greatest challenge for companies was securing access to raw materials for manufacturing upscale goods and services, with perhaps the