debt

Credit strains in Southeast Asia on the rise: Rajah & Tann
(Mar 26): Cracks are showing in Southeast Asia’s credit markets as struggling companies in troubled industries seek to repair their balance sheets, according to Rajah & Tann Singapore, which manages the largest network of corporate lawyers in the region. The law firm, which has handled local units of Lehman Brothers Holdings and MF Global in their bankruptcy cases, said a slowing Chinese ...
Which markets face the most risks as frontiers drown in debt?
SINGAPORE (Mar 11): With a steady build-up of public debt becoming increasingly held by private creditors, frontier markets (FMs) are outpacing their emerging market (EMs) counterparts to become more and more vulnerable to global financial shocks. This is according to Oxford Economics in its latest research briefing issued last Friday, where it noted that FMs are currently “drowning in ...
Sino Grandness to service $28.7 mil debt using dividends from China
SINGAPORE (Feb 7): Sino Grandness Food Industry Group says it is currently preparing to repatriate funds back from China, by way of dividend, amid ongoing negotiations with Soleado Holdings to extend the repayment of $28.7 million owed. To recap, Soleado Holdings is demanding Sino Grandness pays an outstanding loan principal amount of US$21.2 million ($28.7 million) and $30,000 in interest and ...
Battling eight giants with basic income
SINGAPORE (Jan 28): In 1942, British economist and social reformer William Beveridge issued an epoch-defining report that established a model for welfare states in the post-war era. He recognised that the old social protection system had broken down and that it was “time for revolutions, not for patching”. The challenge, Beveridge said, was to slay five giants: disease, idleness, ignorance, ...
Sunvic Chemical racks up $44 mil in corporate loan claims, says cash flow may be affected
SINGAPORE (Jan 11): Sunvic Chemical Holdings says two of its subsidiaries, Yixing Yinyan Import & Export Co and Jiangsu Jurong Chemical, have each received letters of demand regarding corporate loans amounting to about RMB 222.5 million ($44.3 million). The first claim was lodged by Yixing City Futao Rural Micro Credit against Sunvic’s Yixing Yinyan, which acted as the corporate ...
Debt is not the problem; sustainability is
SINGAPORE (Sept 21): There were at least 102 Singapore-listed companies with net gearing ratios of above 100%, with 17 operate in the property management and development industry, according to 12-month trailing data from Bloomberg. Even so, there are wide differences in the financial strength of individual companies within each sector. Take the two largest developers City Developments (CDL) ...
Khazanah in talks to sell stakes in M+S, Pulau Indah Ventures to JV partner Temasek
SINGAPORE (Aug 23): Khazanah Nasional, Malaysia's sovereign wealth fund, is in talks to divest its 60% stake in M+S to its joint venture (JV) partner, Temasek Holdings, according to reports from The Malaysian Reserve. The JV company, which is 40% owned by Temasek, was set up by the duo in 2011 to develop two mega-projects in Singapore – Marina One and DUO – worth about $11 billion in ...
Excess $5.4 bil in excess taxes not refunded: Lim Guan Eng
SINGAPORE (Aug 23): Malaysia’s Finance Ministry yesterday said that the previous Barisan Nasional (BN) government did not refund RM16.05 billion ($5.35 billion) in excess income tax and real property gains tax (RPGT) paid by taxpayers as of May 31, 2018, with some being owed these refunds for the last six years. This amount is on top of the outstanding goods and services tax (GST) input tax ...
China-backed ECRL project, pipeline projects cancelled for now: Dr M
(Aug 21): Malaysian Prime Minister Mahathir Mohamad said on Tuesday that the Chinese-funded US$20 billion ($27.4 billion) East Coast Rail Link (ECRL) project and a natural gas pipeline project in Sabah will be cancelled for now, according to media reports. Mahathir made the comments while addressing the media in Beijing during his five-day trip to China. He said the projects would be cancelled ...
Do investors have the right narrative on Malaysia?
SINGAPORE (May 28): It has been another dramatic week in Malaysia. The new Pakatan Harapan (PH) government has revealed that the country’s total debt and liabilities have breached RM1 trillion ($336 billion). It has also come to light that the previous Barisan Nasional (BN) government had been bailing out the scandal-ridden 1Malaysia Development Bhd (1MDB), paying off nearly RM7 billion worth ...