Singapore said on Monday it would extend relief programmes on mortgages and loans for individuals and small firms into next year because of the prolonged impact of the coronavirus pandemic, Reuters reported. The programmes, which include deferrals on mortgage payments and lower interest rates on loans, were introduced in April and were set to expire on Dec. 31. “Many individuals and businesses will continue to experience cashflow pressures into early 2021,” the Monetary Authority of Singapore and associations representing the city-state’s financial industry said in a statement.

Singapore’s central bank on Wednesday directed embattled German payments firm Wirecard to cease providing services in the city state and return all customers’ funds, Reuters reported. Wirecard, which primarily processes payments for merchants and helps companies to issue pre-paid cards in Singapore, filed for insolvency in June after a 1.9 billion euro (1.8 billion pounds) hole was discovered in its books. Singapore police are among a number of global authorities investigating Germany’s biggest post-war corporate fraud.

Italy’s UniCredit SpA has sued Hin Leong Trading Pte Ltd over a letter of credit, court documents show, one of several the Singapore oil trader sought from lenders for oil purchases but used to pay debt instead, Reuters reported. The Singapore High Court documents seen by Reuters show the Italian bank has also sued commodity trading giant Glencore over the matter. A source familiar with the case confirmed the lawsuits had been filed.

Singapore’s central bank is in talks with lenders about extending the nation’s debt moratorium program beyond Dec. 31 to provide extra relief for borrowers hit by the fallout from the coronavirus pandemic, according to people with knowledge of the matter, Bloomberg News reported.

Rolls-Royce is in talks with sovereign wealth funds, including Singapore’s GIC, as part of a plan to raise around £2.5bn from investors next month, according to three people with direct knowledge of the matter, the Financial Times reported. The UK aero-engine group is working with bankers at Goldman Sachs on the planned equity raise as it looks to become the latest company to tap stock market investors to repair a balance sheet badly damaged by the pandemic. The group is aiming to launch the equity raise in the first weeks of October, two of these people said.

The supervisor of Singaporean shipping group Xihe Holdings Pte Ltd has put seven oil tankers controlled by the company up for sale as part of efforts to recoup funds owed to creditors, three sources said on Wednesday, Reuters reported. Xihe Holdings is part of the Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd, both of which were placed under court-appointed supervisors earlier this year. The sale includes three crude oil supertankers and is expected to get fully underway in the coming days, the sources said.

Efforts by banks including HSBC Holdings Plc and ABN Amro Bank NV to recover $3.5 billion from a collapsed oil trader in Singapore have hit a snag over attempts by a court-appointed manager to tap other assets of the family that ran the firm, Bloomberg News reported. PricewaterhouseCoopers, judicial managers of Hin Leong (Pte) Ltd., has urged the family to repay creditors with 95% of their assets, estimated to be worth at least S$2 billion ($1.5 billion), according to people familiar with the matter.

The saga of Singapore’s highest profile restructuring case, Hyflux Ltd., looks set to run a bit longer, Bloomberg News reported. United Arab Emirates-based suitor Utico FZC agreed to extend a binding offer until Aug. 30, according to a filing. Utico has been pursuing Hyflux since last year, and had previously said the binding offer it made last month was open for acceptance until July 31. Hyflux was once a high-flier that stumbled after an ill-timed foray into the energy business that eventually led to it starting a court-supervised process in 2018.

Societe Generale SA is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading (Pte) Ltd. prompted the bank to halt fresh funding to such firms in the region, Bloomberg News reported. The bank is dismissing all front office staff dealing with transactions, while still keeping some administrative workers, people with knowledge of the matter said, asking not to be named because the matter is private. Large Asian commodities trading clients with operations in Singapore will now be handled by Hong Kong, the people said.

The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block a request from creditor OCBC that overseers be appointed for Xihe Holdings and four of the family’s other subsidiaries to recoup its debt, Reuters reported. Oversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O.K. Lim.