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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

Singapore Chip Firm Global A&T Files for Bankruptcy in NY

Global A&T Electronics, a Singapore-based chip assembler that took on hefty debt a decade ago through a buyout by TPG Capital and Affinity Equity Partners, filed for bankruptcy as a 2013 debt exchange came back to haunt it, Bloomberg News reported. T ...

Daily Headline - global.abi.org - 12/18/2017 - 00:39 - 0 comments

Singapore Makes a ‘Good Start’ on Its Debt Restructuring Ambitions

Singapore has made “a good start” in its bid to become a debt restructuring hub in the region, with six workout cases filed before its courts after it adopted U.S. Chapter 11-like incentives in local company laws this year, a senior government official s ...

Daily Headline - global.abi.org - 11/23/2017 - 18:35 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:02 - 0 comments - 0 attachments

Noble Group Default Risk Flares as Warning Deepens Crisis

Noble Group Ltd.’s crisis escalated as Moody’s Investors Service Inc. flagged an elevated risk of default after the embattled Hong Kong-based commodity trader warned of a quarterly loss of as much as $1.8 billion and announced more asset sales, Bloomberg ...

Daily Headline - global.abi.org - 07/27/2017 - 23:25 - 0 comments

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