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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

Noble Group's CEO Resigns in Surprise Move, to Sell U.S. Energy Unit

Embattled commodity trader Noble Group announced the surprise resignation of CEO Yusuf Alireza on Monday and said it planned to sell a U.S. unit to bolster its balance sheet as it seeks to regain investor confidence, the International New York Times ...

Daily Headline - global.abi.org - 05/30/2016 - 21:45 - 0 comments

China’s Debt Misery Finds Singapore

Chinese banks are justifiably on investors' radar for shuffling some of their more wobbly credit risk into wealth management products. However, when it comes to misery camped off balance sheet, the People's Republic has company elsewhere in Asi ...

Daily Headline - global.abi.org - 05/20/2016 - 09:39 - 0 comments

Singapore's Linc Energy Should Be Liquidated – Administrator

Singapore-listed oil and gas company Linc Energy Ltd owes creditors A$289.4 million ($210.28 million) and should be wound up, according to its administrators. The company entered into voluntary administration a month ago, suffering from debt woes amid a ...

Daily Headline - global.abi.org - 05/15/2016 - 21:06 - 0 comments

Noble Group Swings to $1.67 Billion Loss in Worst Annual Performance

Commodities trader Noble Group Ltd. on Thursday swung to a net loss of $1.67 billion for the 2015 fiscal year, its worst annual financial performance since its Singapore listing in 1997, largely due to an impairment charge related to its coal assets, T ...

Daily Headline - global.abi.org - 02/25/2016 - 23:05 - 0 comments

Cosco’s Share Price Crashes After Much-Awaited Restructuring Deal Comes To Nothing

COSCO Corporation (Singapore) took a beating after its shares resumed trading on Monday, December 14. Investors punished the shipping company after a much-awaited privatisation deal with its parent company fell through last week, Singapore Business Rev ...

Daily Headline - global.abi.org - 12/14/2015 - 23:30 - 0 comments

Singapore Set to Suffer Indonesia's Defaults as Well as Its Smog

for growth in Southeast Asia, narrowly skirted recession when its economy grew just 0.1 percent in the ...

Daily Headline - global.abi.org - 10/19/2015 - 23:22 - 0 comments

Singapore's Jurong Aromatics Goes Into Receivership On Debt Woes

Jurong Aromatics Corp (JAC), which operates a large petrochemicals complex in Singapore, has gone into receivership because of debt problems, according to its restructuring firm and a filing with Singapore's accounting authority. JAC's debt pro ...

Daily Headline - global.abi.org - 09/30/2015 - 22:09 - 0 comments

Jurong Aromatics Said To Be In Debt-Restructuring Talks

Jurong Aromatics Corp, operator of one of the world's largest petrochemical plants, cannot service its interest payments and is negotiating a debt restructuring with bankers amid a plunge in oil prices, people familiar with the situation said, The ...

Daily Headline - global.abi.org - 08/19/2015 - 22:34 - 0 comments

Singapore Bail-In Proposals Make Senior Bond Holders Breathe Easy

Holders of senior debt from Singapore's banks will have reason to breathe easy if the Monetary Authority of Singapore implements proposals to limit its statutory bail-in framework to subordinated debt, Reuters reported. The proposal, part of a set o ...

Daily Headline - global.abi.org - 07/05/2015 - 16:48 - 0 comments

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