Correspondent

GIC picks up Singtel’s tab sinking S$1b into “junk-rated” Indian telecom company

Last Thu (7 Mar), Bloomberg published a news article revealing that Singapore’s GIC will be investing Rs5,000 crore (S$972 million) into the troubled India’s second largest telecom company, Bharti Airtel Ltd. About a week ago, Bharti Airtel decided to announce plans to raise nearly Rs32,000 crore (S$6.2 billion) through a combination of rights issue and perpetual bonds. Bharti Airtel was …

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ComfortDelGro cabby drives until fainted on ECP expressway

It was reported in the media on Sunday (10 Mar) that a ComfortDelGro cabby drove along the ECP expressway until he fainted while the taxi was still moving. The incident actually happened on Friday (8 Mar). The whole incident was captured by a dashboard camera from another car. It was later uploaded onto Roads.sg: It showed the taxi suddenly swerving …

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F&B group founded by award winning entrepreneur, caught for deceiving MOM

Last month, it was reported that GD Group, a food and beverage company specialized in selling Penang food, had deceived the Manpower Ministry (MOM) into issuing Employment Pass to 20 of its foreign employees, when they did not meet the requirements. Between February 2013 and July 2015, GD Group falsely declared salary amounts of between $4,000 and $4,800 for its …

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