Singapore

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Insolvency Cases Running High

The number of firms in Singapore being wound up after encountering financial trouble is set to be on a par with last year's number, which was the highest in 11 years, The Straits Times reported. These figures may even understate the levels of di ...

Daily Headline - global.abi.org - 08/29/2016 - 22:33 - 0 comments

Singapore Feels Aftershock Of Swiber's Fall

Three weeks into the sudden collapse of Swiber Holdings - the first major casualty of a protracted slump in oil prices - concerns are emerging over possible spillover into the local economy as one-fifth of manufacturing employment is linked to the beleag ...

Daily Headline - global.abi.org - 08/16/2016 - 22:39 - 0 comments

Oil And Gas Downturn Spells Trouble For Singapore

Singapore Inc is facing mounting concerns as the city-state’s long-successful oil and gas sector turns sour with the oil price slump, the Financial Times reported. Oil and gas services have been a lucrative niche for the country. It is the world’s bi ...

Daily Headline - global.abi.org - 08/07/2016 - 21:45 - 0 comments

Mahathir Hits Out At Singapore Over 1MDB Inaction

Mahathir Mohamad has attacked Singapore’s handling of alleged money-laundering linked to Malaysian state investment fund 1MDB. In an interview with the Financial Times, Malaysia’s influential former prime minister accused Singapore of failing to targ ...

Daily Headline - global.abi.org - 08/01/2016 - 23:46 - 0 comments

Swiber Applies For Judicial Management Instead Of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation, Reuters reported. Swiber shocked markets earlier this week by filing for liquidation, as it faced hund ...

Daily Headline - global.abi.org - 07/31/2016 - 22:20 - 0 comments

DBS Expects To Recover Half Of Its $517 Million Exposure To Swiber

DBS Group Holdings, Singapore's biggest lender, said it expects to recover about half of its total exposure of S$700 million ($517.4 million) to Swiber Holdings Ltd, the oilfield services provider that filed to wind up operations, Reuters reported. ...

Daily Headline - global.abi.org - 07/28/2016 - 22:51 - 0 comments

China Fishery’s Bankruptcy Bid Deepens Bond Pain on Peru Concern

Bondholders are suffering as a fishmeal supplier’s bankruptcy filing flags doubts among lenders that it will extract enough value from its assets in Peru to repay creditors, Bloomberg News reported. China Fishery Group Ltd. filed for protection under Cha ...

Daily Headline - global.abi.org - 07/27/2016 - 22:12 - 0 comments

Singapore Vows More ‘Intrusive’ Bank Probes After 1MDB Scandal

Singapore’s regulator has vowed more “intrusive” inspections of banks over money-laundering after admitting that the scandal surrounding Malaysia’s state investment fund has been a blow to the city-state’s reputation as a financial centre, the Financia ...

Daily Headline - global.abi.org - 07/25/2016 - 22:13 - 0 comments

Singapore Seeks U.S. Chapter 11 Prowess in Bankruptcy Reform

Singapore is seeking to enhance its position as a center for debt restructuring by giving its insolvency law some of the powers of the U.S. bankruptcy code’s chapter 11, just as companies worldwide default on bonds at the fastest pace since the global fi ...

Daily Headline - abi_admin - 07/20/2016 - 13:39 - 0 comments

Singapore to Form New Body to Fight Money Laundering

Singapore said it would overhaul its system to combat money laundering, weeks after it ordered the local arm of a Swiss bank to shut down operations in relation to a laundering and bribery probe, The Wall Street Journal reported. Monday’s announcemen ...

Daily Headline - global.abi.org - 06/13/2016 - 22:29 - 0 comments

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