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Rich Singapore Investors Stuck as Local Bond Restructuring Drags

Singapore is ranked the second most competitive economy globally by the World Economic Forum, and is actually faster than most other countries in resolving insolvencies involving assets of all kinds, according to the World Bank, Bloomberg News reported. ...

Daily Headline - global.abi.org - 07/24/2017 - 21:12 - 0 comments

Comprehensive Cybersecurity Bill published for consultation in Singapore

On 10 July 2017, the Singapore Government unveiled its draft Cybersecurity Bill (the Bill) and announced a public consultation to seek views and comments from the industry and members of public. The public consultation runs from 10 July to 3 August 2017. ...

Resource Article - twallace@abiwor... - 07/14/2017 - 13:26 - 0 comments - 0 attachments

Norton Rose Fulbright announces Stella Cramer’s appointment to the Advisory Council of the SWIFT Institute

Global law firm Norton Rose Fulbright today announces partner Stella Cramer has been appointed as member of the SWIFT Institute Advisory Council. SWIFT is the Society for Worldwide Interbank Financial Telecommunications. Its messaging platform, produ ...

Resource Article - twallace@abiwor... - 06/30/2017 - 10:03 - 0 comments - 0 attachments

Noble Group Declines as Fitch Sees 'Real Possibility' of Default

Noble Group Ltd. shares slid Tuesday on the first day of trading after Fitch Ratings cut the embattled commodities trader’s credit rating to a score indicating that a default is possible, Bloomberg News reported. The company’s stock dropped 2.8 percent a ...

Daily Headline - global.abi.org - 06/27/2017 - 22:05 - 0 comments

Banks Reduce Loan Exposure to Noble Group

Around US$300m of a US$1.1bn revolving credit loan for Noble Group has been sold to funds in the secondary loan market as banks seek to limit their losses as the company faces a potential restructuring, banking sources said on Thursday, Reuters reported. ...

Daily Headline - global.abi.org - 06/08/2017 - 21:09 - 0 comments

Watch the Bond Deadlines of These Four Singapore Companies

Bloomberg’s default risk scale, a score from 0.52 percent to 10 percent indicates a company’s debt would be ...

Daily Headline - global.abi.org - 06/06/2017 - 23:26 - 0 comments

Singapore Shipyard Orders Hit by Oil Price Slide

The order book at Singapore shipyards fell by more than half last year as the city-state’s offshore industry was battered by the slide in oil prices. Companies in the sector have been forced to restructure debts and slash costs, including cutting their w ...

Daily Headline - global.abi.org - 05/25/2017 - 17:35 - 0 comments

Moody’s Downgrades Noble Group, Warns It May Struggle to Cover Debts

Ratings agency Moody’s has downgraded Noble Group further into junk territory on Monday, warning that the embattled commodity trader may not have enough cash and bank lines be able to cover debts maturing in the next 12 months. Noble Group, whose shares ...

Daily Headline - global.abi.org - 05/15/2017 - 22:44 - 0 comments

DBS Cuts Executive Pay in 2016 Amid Surging NPLs, Control Lapses

DBS Group Holdings Ltd. cut senior executive pay by 13 percent last year to hold managers accountable for weaknesses in three areas including surging nonperforming loans, Chief Executive Officer Piyush Gupta said. Besides bad loans, the management of Sin ...

Daily Headline - global.abi.org - 04/27/2017 - 22:45 - 0 comments

Shipping Line Rickmers to Wind Down

The trustee of Rickmers Maritime said Wednesday that the container ship operator would be winding down its business after failing to reach an agreement with creditors that would allow it to continue operating, The Wall Street Journal reported. Rickme ...

Daily Headline - global.abi.org - 04/13/2017 - 22:35 - 0 comments

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