Singapore’s policymakers are wrapping up the public feedback process on proposed changes to its insolvency law, part of a broader effort to enhance its appeal as a hub for corporate restructuring in Asia, The Straits Times reported. A key change would broaden a provision in restructuring plans, known as cross-class cramdowns, to prevent shareholders from dissenting, according to a Ministry of Law report. The proposals would also streamline the process of disposing a debtor’s property or issuing new shares, and recommend building incentives into restructuring managers’ compensation.
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Bus operator SBS Transit, national carrier Singapore Airlines (SIA) and port operator PSA are among 19 key entities in the transport sector that will be subject to greater regulatory scrutiny under a law that came into force on April 1, the Straits Times reported. The Transport Sector (Critical Firms) Act gives the Government more control over key Singapore companies in the air, land and sea transport sectors to guard against adverse influences and major interruptions in essential transport services.
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Singapore prosecutors told a court on Thursday that a case in which Singapore-based firms have been accused of fraudulently supplying U.S. servers to Malaysia involves transactions worth $390 million, Reuters reported. Three men have been charged with committing fraud against Dell and Super Micro by falsely representing where the servers would end up. Singapore media have linked the case to the possible transfer of Nvidia's artificial intelligence chips to Chinese AI firm DeepSeek.
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Singapore announced on Friday a set of measures to rejuvenate its equities market, including a 20% tax rebate for primary listings and a S$5 billion ($3.74 billion) program that focuses on investing in domestic stocks, Reuters reported. The statement offers more details on measures Singapore's equities market review group announced on February 13 to revive its stock market that has come under pressure from a dearth of mega listings and softer trading liquidity.
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