The Business Times
business-time-50
SUBSCRIBERS

Singapore's next bond default looms in Pacific Andes tussle

google-preferred-sourceAdd BT as a preferred source
Published Tue, Jan 12, 2016 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Singapore

SINGAPORE'S bond market may see its second default in as many months after creditors said that Pacific Andes Resources Development Ltd hasn't honoured some obligations on S$200 million of notes.

The Hong Kong-based firm said it received a letter from bond trustee HSBC Holdings Plc alleging breaches on the 2017 securities, in a Singapore exchange filing on Jan 10. Investors can request full immediate repayment if the company's shares are suspended, according to the bond's terms. Pacific Andes has halted trading in Singapore since Nov 25.

Share with us your feedback on BT's products and services

Feedback

TRENDING NOW

Singapore’s position as a transhipment and logistics hub may come under strain, with stricter rules likely to raise compliance costs and divert trade flows.

One year of Trump tariffs: What has changed and what’s next for South-east Asia?

Changi Airport has now seen several European airlines add new direct flights to the city-state amid higher passenger demand.

S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope

While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

Higher costs, lower returns: Why are Singaporeans still betting on real estate?

A residential building hit by an air strike in Teheran. Unless Iran collapses, we must foresee that an injured state will renew every effort to rebuild and strike back, says the writer.

The fog of the Iran war

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More