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25-07-2017, 12:31 PM
Rich Singapore Investors Stuck as Bond Restructuring Drags
By Denise Wee
July 25, 2017, 5:00 AM GMT+8 Updated on July 25, 2017, 10:35 AM GMT+8
Keith Kueh was expecting Pacific Andes Resources Development Ltd. to pay back the companyâs bonds last year so he could finance his sonâs college bill and his own retirement. Now itâs 18 months after the Singapore-listed fishing company didnât honor some obligations and he hasnât gotten his money yet.
âFor investors like myself, we are not portfolio managers who are managing other peopleâs money,â said Kueh, a founder at a tech startup. âThis is our hard-earned money.â
Singapore is ranked the second most competitive economy globally by the World Economic Forum, and is actually faster than most other countries in resolving insolvencies involving assets of all kinds, according to the World Bank. But when it comes to the cityâs bond market in particular, resolutions have been slower than in some other major markets, according to restructuring advisers.
More details in https://www.bloomberg.com/news/articles/...ring-drags
By Denise Wee
July 25, 2017, 5:00 AM GMT+8 Updated on July 25, 2017, 10:35 AM GMT+8
Keith Kueh was expecting Pacific Andes Resources Development Ltd. to pay back the companyâs bonds last year so he could finance his sonâs college bill and his own retirement. Now itâs 18 months after the Singapore-listed fishing company didnât honor some obligations and he hasnât gotten his money yet.
âFor investors like myself, we are not portfolio managers who are managing other peopleâs money,â said Kueh, a founder at a tech startup. âThis is our hard-earned money.â
Singapore is ranked the second most competitive economy globally by the World Economic Forum, and is actually faster than most other countries in resolving insolvencies involving assets of all kinds, according to the World Bank. But when it comes to the cityâs bond market in particular, resolutions have been slower than in some other major markets, according to restructuring advisers.
More details in https://www.bloomberg.com/news/articles/...ring-drags
Specuvestor: Asset - Business - Structure.
