The first name has emerged in an ongoing probe by Singapore authorities into bank accounts related to alleged financial mismanagement at Malaysian state investor 1Malaysia Development Berhad (1MDB). Sources say he is Yak Yew Chee, a senior private banker with BSI Singapore, a Swiss bank. A check with the High Court shows that a criminal motion will be heard this Friday (Feb 5) at 10am.
Investments to Singapore could continue to fall as businesses are likely to remain cautious due to global uncertainties. In its latest forecast, the Economic Development Board (EDB) said it expects to attract S$8 billion to S$10 billion worth of fixed asset investments (FAI) this year, which will create 20,000 to 22,000 skilled jobs.
The Singapore Exchange (SGX) is changing the methodology used to determine whether a company share price meets the 20 cent minimum trading price (MTP) requirement, following market feedback.
Singapore has the third highest proportion of investors in debt among eight Asian markets surveyed, with one in three carrying debt excluding mortgages, according to a Manulife survey released on Tuesday (Feb 2).
Some legal firms in Singapore have lowered their entry-level salaries amid a glut of younger lawyers and a gloomier business environment, recruitment firm Morgan McKinley has found. Last year, entry-level lawyers working at any of the "Big Four" - Drew & Napier, Allen & Gledhill, Wong Partnership and Rajah & Tann - drew a basic salary of $5,500 to $6,000 a month.
Oil and gas and logistics firms especially interested Singapore firms are excited at the prospect of doing business in Iran, now that international sanctions on the Middle Eastern nation have been lifted. The oil-rich nation of 80 million people represents a huge untapped market for companies across the business spectrum, from energy to transport and consumer goods.
UBS proposed raising its 2015 dividend to 0.85 Swiss franc per share including a special payout of 0.25 francs, just ahead of analyst expectations, after posting a 79 per cent rise in full-year net profit, its best result since 2010.