Financial management in Singapore is worrying
So, Malaysia and China are going to build 648k of a rail link connecting Port Klang across the country and up the east coast to Kota Bahru. It’s an important part of the Belt and Road Initiative and will cots RM44 Billion (SGD$14.4B) after a budget renegotiation. By contrast, the Singapore Malaysia High-speed rail link is...
A Disclaimer is NOT a ‘Get out of Jail Free’ Card
Very quickly the Monetary Authority of Singapore (MAS) cleared DBS of any form of impropriety around the sale of Hyflux perpetual securities. In its statement MAS noted that “as a distributor of the securities, DBS complied with MAS’ requirements to configure its ATM screens to remind investors to read the disclosure...
HoHoHo: Rogue bank kanna fined again
(Updated on 10 April at 5am: StanChart will pay US and UK authorities US$1.1bn to settle charges that it violated sanctions and ignored red flags about its customers: more than expected. It’s deferred prosecution deal with the US marshals extended until 2021. Ho Ho Ho.) Standard Chartered is bracing itself for a bumper fine...
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