Daily Archives: 2019-08-28

Two dead as Japan orders 870,000 to flee heavy rains

Two people were confirmed dead on Wednesday as heavy rains pounded southwest Japan, prompting flood and landslide warnings and orders for 870,000 people to seek safety. More than a million more people were advised to leave their homes after the country’s weather agency raised the alert to its highest level for parts of northern Kyushu. The emergency warning is issued …

Read More »

Foreign firms unprepared for China’s ‘life-or-death’ rating system: chamber

Foreign businesses in China are ill-prepared for the tough sanctions and constant surveillance demanded by a social credit system to be rolled out this year, a European business group warned Wednesday. Under this new system for ranking businesses, both foreign and domestic companies will be required to install surveillance cameras in their premises and share the data with the government. …

Read More »

Thailand may pave the way to legalising same-sex unions in Southeast Asia

Thailand may become the first country in Southeast Asia to legalise same-sex unions as the country’s parliament inches towards passing a draft Bill that will enable same-sex couples to enter civil partnerships, on the heels of Taiwan’s legalisation of same-sex marriages in May. Bloomberg reported today (28 Aug) that should the Bill be passed, same-sex couples in Thailand will obtain the …

Read More »

Ride-hailing giant Grab to invest $500 million in Vietnam

Ride-hailing giant Grab said on Wednesday it will invest $500 million over five years in Vietnam, the company’s latest expansion in a key Southeast Asian market. The Singopore-based firm has grown rapidly since it ended a bruising battle with Uber last year by buying its US rival’s ride-hailing and food operations in the region. Grab, which operates in eight Southeast …

Read More »

Bad debt in Singapore predicted to increase due to Sino-US trade war, part of overall dismal economic trends

On the heels of a dismal economic growth prediction this year and even the prospect of a looming recession, Singapore firms also may accumulate more bad debt as the Republic’s trade-dependent economy experiences ripples from ongoing Sino-US trade tensions, Bloomberg reported yesterday (27 Aug). Shaun Langhorne, restructuring lawyer and partner in Singapore at Hogan Lovells Lee & Lee, told Bloomberg …

Read More »

Marathoner Soh Rui Yong files defamation writ against Malik Aljunied after Malik fails to respond to a previous legal letter

The dispute between two-time marathon champion Soh Rui Yong and executive director of Singapore Athletics (SA) Syed Abdul Malik Aljunied continues as the runner has now filed a defamation writ against the sports official. Mentioning this on a Facebook post on Tuesday (27 August), Mr Soh said that he has now taken matters to the courts after Mr Malik failed …

Read More »

Singapore’s Investo Ltd. investment director to takeover as CEO of Malaysia’s state-owned Permodalan Nasional Bhd

Investment director at Singapore’s Invesco Ltd, Jalil Rasheed, is poised to take over as Chief Executive Officer of Malaysia’s biggest state-owned fund, Permodalan Nasional Bhd (PNB), according to reports. Current CEO Abdul Rahman Ahmad who joined PNB in 2016 will reportedly be leaving the fund soon, according to Bloomberg who quoted a ‘person with knowledge of the matter’. Malaysia’s New …

Read More »

M’sia’s former prime minister Najib Razak’s biggest 1MDB trial commences

KUALA LUMPUR (AFP): Malaysian ex-leader Najib Razak’s most significant 1MDB trial begins Wednesday, centring on allegations that hundreds of millions of dollars linked to the state fund ended up in his bank account. Claims that Najib and his cronies pilfered massive sums from the fund and spent it on everything from real estate to artwork contributed to the defeat of …

Read More »