Aviva Investors' Chief Investment Officer rebukes HSBC, Standard Chartered on backing Hong Kong security laws

10 Jun 2020 - The Edge Markets
(June 10): One of the largest shareholders in HSBC Holdings Plc and Standard Chartered Plc said it’s uncomfortable about their decision to back China’s sweeping security rules planned for Hong Kong. In the first public comments from an investor in the London-based banks, David Cumming, chief investment ...
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Sembcorp Marine unit gets up to $698.6 mil credit for facilities

5 Jun 2020 - The Edge Markets
SINGAPORE (June 5): Sembcorp Marine (SembMarine) says its wholly-owned subsidiary Estaleiro Jurong Aracruz Ltda (EJA) has entered into a revolving facility agreement for up to US$500 million (S$698.6 million) with Standard Chartered bank. Under the agreement, in the event where Sembcorp Industries (Sembcorp) ...
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Standard Chartered foresees digital leading the way as mainstream banking channel

4 Jun 2020 - The Edge Markets
SINGAPORE (June 4): Digital adoption rates for Standard Chartered Bank have hit historic highs, the bank said in a statement on Wednesday. Digital sign-ups for credit cards grew 71% y-o-y for the first four months of 2020, while wealth and investment-related transactions more than doubled. Overall, there ...
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Singapore dollar remains under pressure even as economy opens up

26 May 2020 - The Edge Markets
(May 26): Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of an easing in the nationwide lockdown. The U.S. dollar-Singapore dollar pair has failed to break below technical support at its one-month low, suggesting its next move could well be higher. Data ...
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MAS bans four individuals for fraud

8 May 2020 - Singapore Business Review
They will also serve separate prison sentences. The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and two former insurance agents for fraud and dishonest conduct. Former Barclays representative Kale Jagdish Purushottam was slapped with a 25-year ...
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Standard Chartered hit by bad loans including Hin Leong

27 Apr 2020 - The Edge Markets
(Apr 27): Problem loans at some of Standard Chartered Plc’s large clients may top $600 million as a string of corporate scandals coincides with woes at firms hit by the coronavirus pandemic. NMC Health Plc, the hospital operator that’s uncovered evidence of fraud, and Hin Leong Trading (Pte.), the Singaporean ...
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ST Engineering subsidiary to issue $1.07b notes on 29 April

23 Apr 2020 - Singapore Business Review
The notes will be issued under the $5b medium-term note programme. ST Engineering RHQ (STE RHQ), a wholly-owned subsidiary of ST Engineering, will issue $1.07b (US$750m) in five-year notes with a 1.5% fixed-rate coupon, according to an announcement. The senior unsecured notes will be issued on 29 April ...
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Stocks to watch: ST Engineering, Keppel Infra Trust, Jardine C&C, Centurion, Keong Hong

21 Apr 2020 - The Business Times
THE following companies saw new developments that may affect trading of their securities on Tuesday: Singapore Technologies Engineering (ST Engineering): The group's aerospace and electronics segments secured more than S$1.6 billion in new contracts in the first quarter of 2020, with its land systems ...
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Oil trader Hin Leong owes $5.47b to 23 banks

20 Apr 2020 - Singapore Business Review
The pandemic has led to a slump in oil prices. Singapore oil trader Hin Leong Trading, which has begun talks with lenders to extend its credit facilities, owes $5.47b (US$3.85b) to 23 banks, two industry sources told Reuters on Thursday. The coronavirus pandemic has led to an unprecedented slump in fuel ...
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Singaporean investors more likely to stay calm amidst crisis: study

15 Apr 2020 - Singapore Business Review
Confident and financially comfortable investors typically have high net worth. Singapore-based investors are more likely to stay relatively calm and make more reasonable decisions in turbulent times compared to peers from Hong Kong and Taiwan, according to a study by Standard Chartered. Nearly half or ...
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