Singapore 

Warrant of arrest issued after man allegedly linked to Orchard Towers murder skips court appearance, Singapore News

SINGAPORE – A warrant of arrest has been issued against a man allegedly linked to the Orchard Towers murder after he failed to turn up in court on Thursday (Aug 29). Tan Hong Sheng, 22, was one of seven people originally charged with the murder of Mr Satheesh Noel Gobidass, 31, who died following a brawl on July 2 this year. The others are: Natalie Siow Yu Zhen, 22; Loo Boon Chong, 25; Tan Sen Yang, 27; Joel Tan Yun Sheng, 26; Chan Jia Xing, 26; and Ang Da Yuan,…

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Home 

Stocks Blog: Borrowers linked to HIBOR to get boost after HKMA cuts rate in line with US Fed

Welcome traders to a fresh month — The Hong Kong Monetary Authority cut its base lending rate by 25 basis points, following the US Federal Reserve’s cut overnight. That will helped borrowers whose loans are linked to the HIBOR — the Hong Kong Interbank Offered Rate — including companies and mortgage holders. Companies carrying large debts, such as airlines or mainland property developers — could gain by paying less in interest. And adding money into the system generally will help lift all… Source link

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Global 

China’s purchases of US agricultural products not linked to resumption of trade talks, ministry says

China’s purchases of agricultural products from the United States have “no direct link” to the agreement to resume face-to-face trade talks next week in Shanghai, but rather reflects commercial decisions by individual Chinese buyers, the Ministry of Commerce said on Thursday.Spokesman Gao Feng confirmed next week’s talks will take place on Tuesday and Wednesday in China’s financial hub rather than the capital city of Beijing after the White House earlier announced US trade representative Robert… Source link

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Money 

Vancouver fights back in tax battle over US$20 million property linked to Chinese billionaire NPC member Zheng Jianjiang

Vancouver’s municipal authorities are fighting back in court to collect a massive tax bill on a C$26.8 million (US$20.4 million) property linked to the Chinese billionaire parliamentarian Zheng Jianjiang.The seaside property, owned by Zheng’s wife, He Yiju, is on Belmont Avenue, one of the Canada’s most expensive streets. It was hit with the vacancy tax bill of C$249,313.67 (roughly US$190,000) in 2017, representing 1 per cent of the property’s value at the time.The house on the site was… Source link

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Singapore 

Man who was rescued from burning Bukit Batok flat dies in hospital; SCDF says fire linked to PMDs, Singapore News

SINGAPORE – A 40-year-old man who was rescued from a burning Bukit Batok Housing Board flat in the early hours of Thursday (July 18) has died in hospital. The Straits Times understands that the man, who had third-degree burns on 40 per cent of his body, died at the Singapore General Hospital (SGH) on Saturday afternoon. He had also been in a coma since the incident due to a lack of oxygen to his brain. Police are investigating the unnatural death. The Singapore Civil Defence Force (SCDF) said on Saturday that preliminary investigations indicated…

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Singapore 

Singapore returning $50.3 million linked to 1MDB scandal, Singapore News

SINGAPORE – Singapore is returning $50.3 million to Malaysia seized in connection with a massive financial scandal that played a major role in the toppling of the corruption-plagued government of Najib Razak, police said. The city-state is one of several countries that launched probes into allegations that billions of dollars were misappropriated from Malaysian sovereign wealth fund 1MDB in an elaborate ruse that stretched from Asia to the United States. The scandal – allegedly involving Malaysia’s ex-leader Najib, his family members and inner circle – played a key role in the…

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Singapore 

Murder charges withdrawn for three men allegedly linked to Orchard Towers death, Singapore News

SINGAPORE – Three men allegedly linked to the Orchard Towers killing were given a discharge amounting to an acquittal of their murder charges on Thursday (July 11). Tan Hong Sheng, 22, Loo Boon Chong, 25, and Chan Jia Xing, 26, had their charges reclassified to that of consorting with a person carrying an offensive weapon in a public place. Accused parties given a discharge amounting to an acquittal cannot be charged again with the same offence. Tan and Chan were each offered bail of $25,000 while Loo’s bail was set…

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Home 

SVOLT, battery firm linked with Chinese SUV maker Great Wall, to build 20 GWh factory in Europe

A Chinese battery maker carved out of China’s biggest sport utility vehicle manufacturer, Great Wall Motors, on Tuesday said it was planning its first overseas manufacturing base in Europe.SVOLT Energy Technology, which became independent in 2018, also said it was making “good progress” on developing a cobalt-free lithium-ion battery, a goal of battery producers aiming to eliminate the pricey and increasingly scarce mineral.“We plan to have five production bases worldwide, including in the… Source link

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Singapore 

Insurance linked to high medical inflation, Singapore News

Overuse of insurance and pricey doctors in private practice could be reasons for the high inflation in the healthcare sector, said experts. Medical cost inflation here rose 10 per cent last year, 10 times more than the Singapore economy’s estimated 2018 inflation rate of 1 per cent, according to Mercer Marsh Benefits 2019 Medical Trends Around the World report. The headline inflation officially came in at 0.4 per cent. Singapore was sixth highest of 11 Asian countries surveyed, and its 10 per cent increase was slightly lower than the Asian…

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Singapore 

Lawyer allegedly linked to missing $33 million had stolen Malaysian passport, Singapore News

SINGAPORE – The lawyer who vanished after more than $33 million parked at his firm went missing had left Singapore for Malaysia in a private-hire car on May 13, a district court heard on Thursday (June 20). Deputy Public Prosecutor Nicholas Khoo said police investigations also showed that Jeffrey Ong Su Aun, the managing partner of law firm JLC Advisors, also disposed of his Singapore mobile phone when he reached Malaysia. The 41-year-old Singaporean lawyer was later found with a stolen Malaysian passport which had been actually issued to a…

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