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
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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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Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire, the South China Morning Post reported. The name of the founder of Hin Leong Trading Pte. and his children Lim Huey Ching and Lim Chee Meng were listed as having been issued a bankruptcy order on December 19, the government gazette showed. The younger Lims were both directors at the company. Leow Quek Shiong and Seah Roh Lin of BDO Advisory Pte. Ltd. are the trustees, according to the gazette.
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