Singapore

Results for Singapore

Singapore Puts Banker on Trial in Case Linked to 1MDB Money Laundering

A private banker who helped manage the accounts of Malaysian state investment fund 1MDB went on trial Monday in Singapore. The proceedings against Yeo Jiawei, 33 years old, formerly a wealth manager at the local branch of Swiss bank BSI SA, marks a step ...

Daily Headline - global.abi.org - 11/01/2016 - 20:52 - 0 comments

Marco Polo Noteholders Approve Debt Restructuring

Marco Polo Marine’s noteholders have voted to approve a restructuring S50m ($36m) of the Singapore-listed company’s debt, which will give the offshore supply vessel operator breathing space. As a result of the vote, the ordinary maturity date of the note ...

Daily Headline - global.abi.org - 10/16/2016 - 21:19 - 0 comments

Singapore Court Approves Judicial Management For Troubled Swiber

A Singapore court on Thursday appointed financial advisory firm KPMG as judicial manager for Swiber Holdings Ltd, allowing the troubled oilfield services firm to be kept under a process through which it could be nursed back to health, Reuters reported. S ...

Daily Headline - global.abi.org - 10/06/2016 - 19:49 - 0 comments

Swissco Joins Debt Restructuring Frenzy

The oil price rebound has come too late with another firm in the offshore sector joining the debt restructuring frenzy amid the most brutal industry downturn in 30 years, The Straits Times reported. Singapore-listed rig and vessel chartering group Sw ...

Daily Headline - global.abi.org - 10/04/2016 - 20:31 - 0 comments

Another Shipping Insolvency: Rickmers Maritime Trust

Hanjin isn’t the only player in the ocean shipping world that has become insolvent, Global Trade reported. Rickmers Maritime Trust (RMT), a Singapore-listed owner of containerships has become the latest casualty in a growing list of containership owners ...

Daily Headline - global.abi.org - 10/03/2016 - 18:08 - 0 comments

Shareholders Approve Temasek Buyout of Singapore Rail Operator

Minority shareholders of Singapore's main rail operator SMRT Corp Ltd voted overwhelmingly today in favor of Temasek Holdings' S$1.18 billion ($866 million) bid to take full control of the company, Reuters reported. Of the shareholders present ...

Daily Headline - abi_admin - 09/29/2016 - 14:12 - 0 comments

Marco Polo Marine Expresses Doubt On Ability To Continue As Going Concern

Mainboard-listed Marco Polo Marine said on Thursday (Sept 22) there may be a "substantial doubt about the group's ability to continue as a going concern", The Straits Times reported. Its statement to the Singapore Exchange accompanied ...

Daily Headline - global.abi.org - 09/21/2016 - 22:07 - 0 comments

Singapore's Swiber To Default On Coupon Payment

Troubled Singaporean oilfield services firm Swiber Holdings said late on Friday it was unable to make the coupon payment for its 450 million yuan ($67.5 million) fixed rate notes due on Sunday. The company applied in July to place itself under judicial m ...

Daily Headline - global.abi.org - 09/18/2016 - 17:16 - 0 comments

Singapore Shipping Trust Seeks Debt Restructuring

A Singapore-based shipping trust that operates container ships is asking creditors for leniency on about $253 million of debt, in the latest sign of debt woes in the industry and in the city-state, the Times of Oman reported. Rickmers Maritime won’t ...

Daily Headline - global.abi.org - 09/15/2016 - 21:49 - 0 comments

Insolvency Cases Running High

The number of firms in Singapore being wound up after encountering financial trouble is set to be on a par with last year's number, which was the highest in 11 years, The Straits Times reported. These figures may even understate the levels of di ...

Daily Headline - global.abi.org - 08/29/2016 - 21:33 - 0 comments

Syndicate content