Singapore's efficiency even extends to its bankruptcy laws
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WHEN it comes to matters legal or bureaucratic, Singapore is swift to act. Bankruptcy, sometimes, can be even faster.
Ezra Holdings, a Singapore publicly-traded oil services group, and two of its affiliates, Ezra Marine Services Pte and Emas IT Solutions Pte, filed for Chapter 11 protection over the weekend in a US bankruptcy court in New York.
On Monday, shares in Nam Cheong, a builder of offshore support vessels, tumbled as much as 33 per cent to a record low after the company on Friday said its auditors raised some financial concerns.
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