The Monetary Authority of Singapore (MAS) has imposed a penalty of S$5.2 million on the Singapore branches of Standard Chartered Bank (SCB) and of S$2.4 million on Coutts, for breaches of MAS's anti-money laundering (AML) requirements by the two banks.
Singapore's stock index is set to post the biggest increase in Asia this week, driven by its longest winning streak in two years. The party may be short-lived.
The interim judicial managers (IJMs) of beleaguered vessel operator Swissco Holdings and its subsidiary Swissco Offshore (SOPL) have been authorised by the court to make payment of wages to crew of certain vessels and service asset employed by SOPL.
Commodity trader Noble Group said late on Thursday it has completed the disposal of Noble Americas Energy Solutions to Calpine Energy Services Holdco II, following its announcement of the potential sale in October.
Shareholders at the SPH Reit annual general meeting on Friday asked if the real estate investment trust sponsored by media group Singapore Press Holdings (SPH) would add Seletar Mall to its portfolio and queried about the threat of online shopping, among other things.
A client of vessel builder Nam Cheong has just officially cancelled a contract to receive a vessel. While the main board-listed builder is considering legal recourse, it says the cancellation is expected to impact its earnings for this financial year, though the extent is still undetermined, Nam Cheong said in a filing after the market close on Friday.
The STI Today
A rebound in oil prices thanks to a positive Opec meeting, end-of-month price fixing, window-dressing and portfolio rebalancing on Wednesday and the Dow Jones Industrial Average's push to new highs were the main features of the week just past, during which the Straits Times Index moved 31 points or 1.1 per cent into the black for 2016.