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Fighting to Survive: Noble Group's Fate Hangs on Investors Restructuring Vote

Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency, Reuters reported. The company, once a glob ...

Daily Headline - global.abi.org - 08/27/2018 - 00:49 - 0 comments

With Mahathir Next Door, Singapore’s Water Baby Needs a Lifeboat

A homegrown Singaporean company that owns one of the financial center’s three seawater desalination plants is struggling to stay afloat, a Bloomberg View reported. Whether Hyflux Ltd. sinks or swims will matter to creditors and shareholders. The strategi ...

Daily Headline - global.abi.org - 07/17/2018 - 23:57 - 0 comments

Insolvency Limbo: the SGD Bond Market

Goodbye credit boom, hello insolvency limbo. In June, precision- engineering firm CW Advanced Technologies became the latest issuer to seek a court order to stave off creditors, after its plan to re-tap the bond market to redeem its first series of notes ...

Daily Headline - global.abi.org - 07/16/2018 - 01:40 - 0 comments

Singapore Company Files for $325M Bankruptcy in White Plains

White Plains lawyer Michael E. Foreman has been appointed to help a Singapore company restructure $325 million in debt in a rare Chapter 15 cross-border bankruptcy, Westfair Business Publications reported. Blue Ocean Resources Pte. defaulted on notes due ...

Daily Headline - global.abi.org - 06/04/2018 - 23:35 - 0 comments

Noble Group Sweetens Debt Restructuring Deal, Gets Founder's Backing

Noble Group improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction, Reuters reported. Singapore-listed Noble’s debt-for-e ...

Daily Headline - global.abi.org - 04/16/2018 - 22:38 - 0 comments

TPG-Backed Chip Tester UTAC Is Said to Explore $1 Billion Sale

UTAC Holdings Ltd., the Singapore-based chip testing firm backed by Affinity Equity Partners and TPG, is exploring options for a sale of its business after completing a bond restructuring, people with knowledge of the matter said. The company met potenti ...

Daily Headline - global.abi.org - 04/04/2018 - 23:43 - 0 comments

SGX Tells Noble to Appoint IFA to Review Debt Restructuring Plan

The Singapore Stock Exchange has asked Noble Group, the crisis-hit commodity trader, to appoint an independent adviser to review its proposed debt-for-equity swap that will see existing shareholders almost wiped out, the Financial Times reported. Und ...

Daily Headline - global.abi.org - 03/08/2018 - 23:42 - 0 comments

Noble's Debt Restructuring Plan Hit By Suspicions

A wording on the “full release” of claims by senior creditors could absolve Noble legal debt claims, Singapore Business Review reported. According to Bloomberg, experts are raising concerns about Noble’s debt restructuring plan. On page 5 of Noble’s ...

Daily Headline - global.abi.org - 03/08/2018 - 00:40 - 0 comments

Noble Group Posts $4.9 Billion Loss, Warns on Outlook

Noble Group Ltd. posted a full-year loss of $4.94 billion for 2017 and warned that further writedowns may yet be in store as the commodity trader battles to survive, with executives pressing ahead with a debt-for-equity rescue plan that’s facing increase ...

Daily Headline - global.abi.org - 02/28/2018 - 22:35 - 0 comments

Singapore passes new Cybersecurity Bill: Here’s what you need to know before it comes into force

The Singapore Parliament passed the much discussed Cybersecurity Bill (the Bill) on 5 February 2018 and it is anticipated that the new law will come into force soon.[1] The new law creates a regulatory framework for the monitoring and reporting of cybe ...

Resource Article - twallace@abiwor... - 02/27/2018 - 13:57 - 0 comments - 0 attachments

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