Logan Group says creditors holding 66% debt have agreed to overhaul plan

Logan Group says creditors holding 66% debt have agreed to overhaul plan

DEFAULTED Chinese developer Logan Group said creditors holding over 66 per cent of the group’s US$6.2 billion offshore debt have signed an agreement in support of its restructuring plan, a key progress in its years-long overhaul talk.  The Shenzhen-based homeseller said that other creditors holding over 12 per cent of debt have indicated support, but…

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World’s richest people lose US$108 billion after DeepSeek sell-off

World’s richest people lose US8 billion after DeepSeek sell-off

The world’s 500 richest people, led by Nvidia co-founder Jensen Huang, lost a combined US$108 billion on Monday (Jan 27) as a tech-led sell-off tied to Chinese artificial intelligence (AI) developer DeepSeek sent major indices plunging. Billionaires whose fortunes are linked to artificial intelligence were the biggest losers: Huang saw his fortune fall US$20.1 billion,…

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Latest Singapore six-month T-bill cut-off yield rises to 3.04%

Latest Singapore six-month T-bill cut-off yield rises to 3.04%

THE cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) rose to 3.04 per cent, based on auction results released by the Monetary Authority of Singapore on Tuesday (Jan 28). This was up from the 2.99 per cent offered in the previous six-month auction that closed on Jan 16. Demand for the latest tranche…

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Aims Apac Reit’s 9M DPU rises 1.1% to S$0.0707

Aims Apac Reit’s 9M DPU rises 1.1% to Salt=

THE manager of Aims Apac Reit (AA Reit) on Tuesday (Jan 28) posted a 1.1 per cent increase in distribution per unit (DPU) to S$0.0707 for the nine months ended Dec 31, 2024, from S$0.0699 in the same period the previous year. Revenue climbed 5.7 per cent on the year to S$139.1 million from S$131.6…

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US: Wall St opens sharply lower as China’s AI push rattles Big Tech

US: Wall St opens sharply lower as China’s AI push rattles Big Tech

Wall Street’s main indexes opened lower on Monday (Jan 27), as the surging popularity of a low-cost Chinese artificial intelligence model sparked a selloff in chipmaker Nvidia and other companies that stand to benefit from investments into the technology. The Dow Jones Industrial Average fell 275.4 points, or 0.62 per cent, at the open to…

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Vibrant Group wins suit against former Blackgold management

Vibrant Group wins suit against former Blackgold management

VIBRANT Group has won its civil suit against Peng Yuguo, former chief executive officer of Blackgold Australia, and Tong Chi Ho, the former chairman of Blackgold Australia. The suit arose from irregularities found by a special audit on Chinese coal miner Blackgold International, which was found to have falsified accounts and grossly inflated sales figures…

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DBS raises stake in Shenzhen Rural Commercial Bank

DBS raises stake in Shenzhen Rural Commercial Bank

SINGAPORE’S largest lender DBS Bank has acquired an additional stake in Shenzhen Rural Commercial Bank (SRCB), increasing its stake from 16.7 per cent to 19.4 per cent, it announced in a bourse filing on Monday (Jan 27). The investment is said to be in line with DBS Group’s strategy to invest in its core markets…

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