What Is the Difference Between Licensed and Unlicensed Moneylenders in Singapore?
Earlier this month, a friend received an SMS that started out “OWE $ PAY $”, included a lovely expletive and ended with “I SURE COME LOCK AND BURN YOUR HOUSE TONIGHT”. Thankfully, it turned to be just a scam, but it was a reminder of the harassment tactics of an unlicensed money lender. Or, to […]
Senior LionGold exec sued over loan to buy stock
The executive deputy chairman of LionGold Corp, one of three companies being probed in Singapore after their shares plunged in October 2013, was sued to repay money borrowed to buy stock. Datuk Mohammed Wira Dani Abdul Daim owed Maybank Kim Eng Securities $2.6 million for LionGold shares bought in a leveraged account, according to a […]
Noble Group signs US$2.3 billion committed unsecured revolving loan facility
Mainboard-listed Noble Group announced on Tuesday the closing of its syndicated committed unsecured revolving loan facilities with a total size of US$2.3 billion. The company said the transaction was well supported by banks globally with 35 banks participating. The facilities comprise a 364 day revolving credit facility and a 3 year revolving credit facility, priced […]
Plunging China trade loans hit Singapore banks
Singapore banks, which have enlarged their China credit exposure in recent years, were hit by a drop in billions of dollars of China trade-financing deals as mainland borrowing conditions became easier while offshore interest rates grew more expensive. The premium of the onshore six-month Shanghai interbank offered rate to the offshore six-month CNH Hong Kong […]
OCBC beats forecasts on Q1 loan growth surge, UOB roughly in line
Singapore’s Oversea-Chinese Banking Corp beat expectations with an 11 percent rise to record quarterly net profit, as the consolidation of its newly acquired Hong Kong lender Wing Hang Bank helped it post robust loan growth. But smaller rival United Overseas Bank booked a 1.6 percent rise in first-quarter profit, narrowly missing analysts’ forecasts. Despite a […]