Showing posts from July, 2016

New bankruptcy rules kick in from August

New rules under Singapore's bankruptcy framework to create a more "rehabilitative environment" for bankrupts will come into force from August, the Ministry of Law (MinLaw) said on Wednesday.

Swiber files to wind up, directors resign

Oil and gas contractor Swiber Holdings has filed a winding-up application, and its directors have resigned to pursue their own interests, the company announced on Thursday.

Better guidelines needed for lifting of trading halts

When Indonesian coal miner Resources Prima Group (RPG) requested on Thursday last week for its trading halt to be lifted after the company announced it had received two legal letters of demand, the time for trading to resume was seven minutes later.

Safeguarding independence of SGX's new regulatory unit

While setting up of RegCo unit is a good move, concerns remain if it will be truly independent from rest of SGX

Ex-remisier charged with breach of Securities and Futures Act

An ex-remisier has been charged with defrauding under the Securities and Futures Act - the first prosecution case by the Monetary Authority of Singapore (MAS) under the MAS-CAD (Commercial Affairs Department) joint investigation regime.

China Fibretech remains suspended, to engage lawyers to handle claims

China Fibretech, whose shares remain suspended from trading since Nov 30, 2015, said on Friday it will engage a law firm to handle the 466 million yuan (S$94.6 million) damage claims made by its customers.

Ex-remisier charged under Securities and Futures Act for fraud

A former remisier has been charged with defrauding under the Securities and Futures Act - the first prosecution case by the Monetary Authority of Singapore (MAS) under the MAS-CAD (Commercial Affairs Department) joint investigation regime.

SGX to hive off regulatory functions

In a move welcomed by market watchers as long overdue, the Singapore Exchange (SGX) said on Monday that it is hiving off its regulatory arm from its commercial activities.

Geo Energy buys out a Kalimantan coal mine for US$90m

Geo Energy Resources has added a third coal mine under its belt that will double its coal reserves to over 100 million tonnes following its latest acquisition of a mine in South Kalimantan, Indonesia for US$90 million.

Weighing the merits of hiving off SGX's policing job

In recent months, the Singapore Exchange (SGX) has made significant strides in raising the governance bar to further reinforce investors' confidence in the local stock market and protect their interests.

SGX, saying sorry is not good enough

Saying sorry and promising to minimise the downtime is not good enough. It takes more than that to restore investors' confidence.

SGX's latest system glitch: tame reaction a real worry

The most worrying aspect of Thursday's stock market disruption is not that it lasted for as long as it did but that it was met with a relatively tame and subdued response from the investing public.

Index providers replacing money managers as the most powerful players in global equity market

MSCI Inc isn't usually a name that springs to mind when one thinks of the most powerful players in the global equity market.

AmFraser goes to trial over $1.88m suit against former client

In a High Court trial that started yesterday, stockbroking firm AmFraser Securities is seeking to recover $1.88 million, with interest, from a former customer who racked up the trading losses in the October 2013 penny stock crash.

Property cooling steps not going away yet

The pressures on the economy from slower growth and high home prices may prevent the Government from unwinding its property cooling measures, according to Maybank Kim Eng.

MMP Resources plans to buy Hokkaido ski operator for S$1m

MMP Resources, formerly known as Sino Construction, is planning to acquire Hokkaido ski operator JRT Trading for 80 million yen (S$1.05 million) in cash. On top of that, it will repay over two years a 37.5 million yen loan that JRT Trading owes.

Geo Energy secures offtake deal worth US$1.2b for Indonesian coal mine

Indonesian coal mining group Geo Energy has secured a deal to supply coal to global commodities group Engelhart Commodities Trading Partners (Singapore), or ECTP, until recently known as BTG Pactual Commodities, for the entire lifespan of its wholly owned coal mine.

Big winners in ISR Capital’s bid for rare earths asset

ISR Capital said today that it has agreed to acquire REO Magnetic’s remaining 40.1% stake in Tantalum Holding (Mauritius) for $26.73 million.

ISR Capital raises stake in Madagascar firm to 60%

Investment firm ISR Capital has entered into an agreement to acquire a further 40.1 per cent stake in a Madagascar rare earth concession holder from Reo Magnetic for S$26.7 million.

China Fishery files for bankruptcy in New York

Beleaguered China Fishery Group, along with more than 15 affiliates, has filed for Chapter 11 bankruptcy protection in New York. Restructuring proceedings have also begun in Peru, the US, and the British Virgin Islands.

DTZ (SEA) management buys out Cushman's stake, relaunches Edmund Tie & Company

The management of DTZ Debenham Tie Leung (SEA) has bought out the majority stake of over 60 per cent held by Cushman & Wakefield and relaunched the firm with its original name, Edmund Tie & Company.

ISR Capital boosts stake in Tantalum Holding (Mauritius) to 60%

ISR Capital has inked an agreement with Reo Magnetic to acquire its 40.1 per cent stake in Tantalum Holding (Mauritius) for S$26.7 million.