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Archive for the ‘Business’ Category
PAP must Answer Questions about its System in Wake of Keppel Scandal

PAP must Answer Questions about its System in Wake of Keppel Scandal

The bribery scandal that has enveloped Keppel Offshore & Marine is another sign of a deteriorating situation involving corruption and the financial system in Singapore. The incident involves 17 current and former Keppel employees holding senior positions within the company who had paid US$55 million in bribes over more than... 

GIC invests our CPF money in risky Chinese P2P lending platform

GIC invests our CPF money in risky Chinese P2P lending platform

Reuters reported (2 Aug) that Chinese P2P lending platform Dianrong has raised US$220 million from our GIC and other investors. GIC, of course, helps to invest our CPF money all over the world. Dianrong said it will use the funds to automate some of its new branches across China, for research and development as well as any potential... 

Tankers begin to offload oil through China-Myanmar pipeline by-passing Singapore altogether

Tankers begin to offload oil through China-Myanmar pipeline by-passing Singapore altogether

Bloomberg reported last month (11 Apr) that the China-Myanmar 770km oil pipeline has just opened. A tanker with a capacity of 1 million barrels of crude oil, began offloading oil at Myanmar’s Kyaukpyu port on 10 Apr, before sending it through the pipeline. China’s crude imports rose almost 14 percent last year, the fastest... 



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