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Fleet-Owning Unit Of Bankrupt OW Bunker Taken Over

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday. OW Bunker, the largest ship fuel supplier in the world, collapsed earlier this ...

Daily Headline - global.abi.org - 11/27/2014 - 19:38 - 0 comments

OW Bunker Far East To Meet Liquidator On December 4; Six More Vessels Arrested

The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with its liquidator KPMG in early December to discuss the firm's outstanding debt, which totals almost $1.5 billion globally, Reuters reported. OW Bunker, a leading suppli ...

Daily Headline - global.abi.org - 11/18/2014 - 20:58 - 0 comments

Singapore’s Shipping Fuel Dealers Hit by OW Bunker Bankruptcy

The bankruptcy filing of a giant shipping-fuel supplier has sent shock waves through Singapore, one of the world’s busiest ports, with companies in the city bracing for a number of payment defaults and worries over a potential cash crunch, The Wall Str ...

Daily Headline - global.abi.org - 11/13/2014 - 21:08 - 0 comments

Four More Firms File Claim Against Bankrupt OW Bunker

A flurry of firms have filed lawsuits against the Singapore units of bankrupt Danish shipping fuel trader OW Bunker, with claims totalling more than S$5 million, and traders say this is likely just the beginning of a wave of court actions. Court document ...

Daily Headline - global.abi.org - 11/12/2014 - 20:46 - 0 comments

Singapore Oil Trader Prepares Lawsuit Against Ship Fuel Supplier OW Bunker

A creditor of bankrupt OW Bunker is preparing a lawsuit in Singapore seeking to reclaim its money, court documents showed, as the fallout from the collapse of the world's largest marine fuel supplier begins to ripple through the sector, Reuters repo ...

Daily Headline - global.abi.org - 11/11/2014 - 22:40 - 0 comments

DBS Chief Warns Of Basel Fallout

As Asian countries roll out Basel III frameworks for their banks, the CEO of Singapore's biggest lender has warned that the more stringent bank capital rules for the region's already well-capitalised lenders may hurt economic growth in the regi ...

Daily Headline - global.abi.org - 10/06/2014 - 20:09 - 0 comments

Singapore Home Prices Fall for Fourth Straight Quarter on Curbs

Bloomberg News reported. An index tracking private residential prices fell 0.6 percent to 208.1 points in ... residential prices fell 0.6 percent to 208.1 points in the three months ended Sept. ...

Daily Headline - global.abi.org - 09/30/2014 - 22:03 - 0 comments

Major Reforms Of Singapore's Insolvency Laws Expected

Major reforms of insolvency laws are in the process of being enacted, as Singapore tries to position itself as a regional hub for insolvency work and debt restructuring, said Senior Minister of State for Law Indranee Rajah on Monday, Channel NewsAsia rep ...

Daily Headline - global.abi.org - 08/25/2014 - 20:57 - 0 comments

Singapore to Require Banks to Hold Liquid Assets for Exigencies

Singapore said banks with a “significant retail presence” in the city-state will soon be required to maintain some liquid assets in the country to support their short-term cash outflows, Bloomberg News reported. The new liquidity framework applies to all ...

Daily Headline - global.abi.org - 06/24/2014 - 21:54 - 0 comments

CapitaLand to Alter Home Sizes to Tackle Curbs

CapitaLand Ltd., Singapore’s biggest developer, may alter the size of its apartments as it seeks to improve affordability to combat government measures aimed at curbing speculation and lowering prices, Bloomberg reported. The developer sold 139 residenti ...

Daily Headline - global.abi.org - 07/25/2013 - 22:24 - 0 comments

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