Bizview: Today's top business news

The reception at Cosco Holdings (Singapore) Pte Ltd.
The reception at Cosco Holdings (Singapore) Pte Ltd.PHOTO: BLOOMBERG

Telecoms firm Global Tech requests trading halt on change in control of company

Telecommunications firm Global Tech (Holdings) asked for a trading halt on Dec 14, with effect from 9am. The firm said in a filing to the Singapore Exchange on Monday (Dec 14) that this was "pending the release of an announcement of a transaction regarding a change in control of the company".

Cosco Singapore shares plunge to 11-year low on profit warning

Mainboard-listed Cosco Corp (S) Ltd, the shipbuilding arm of China's China Ocean Shipping Group, fell to the lowest price in more than 11 years in Singapore trading on Monday (Dec 14) after the company said it will post a "significant net loss" in the fourth quarter.

Lim Hng Kiang to attend WTO ministerial conference in Kenya this week

Minister for Trade and Industry Lim Hng Kiang will be attending the 10th World Trade Organisation (WTO) ministerial conference in Nairobi, Kenya, from Dec 15-18. Ministers and officials from over 160 member states are expected to attend the event, the Ministry of Trade and Industry (MTI) said in a press release on Monday (Dec 14).

Vard's Brazilian customer cancels order for 2 LPG vessels

Mainboard-listed Vard Holdings said Petrobras Transportes SA (Transpetro) has terminated the contracts for two liquefied petroleum gas (LPG) carriers on order from its 50.5-per cent owned indirect subsidiary, Vard Promar SA.

Ringgit falls amid speculation over weak yuan with new index

Malaysia's ringgit fell to a three-week low on Monday (Dec 14) as a new China index tracking the yuan against a basket of currencies spurred speculation the exchange rate will weaken as it shifts away from linking it to the US dollar.

HK property foreclosures seen doubling in 2016 on slowing economy

Property foreclosures in Hong Kong will double from current levels by the end of next year (2016) as a slowing economy hurts borrowers' ability to service their mortgages, according to an auctioneer with 23 years of industry experience.