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  • UOB Dismisses Misconduct Claims by Former Logistics CEO

    UOB Dismisses Misconduct Claims by Former Logistics CEO0

    Bank Labels Allegations as Unfounded While Authorities Begin Review United Overseas Bank (UOB) has firmly denied recent allegations of misconduct made by the former chief executive of Yang Kee Logistics, dismissing them as both baseless and defamatory in a Facebook statement on March 28. The Monetary Authority of Singapore (MAS) has confirmed that it is

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  • DBS Positioned to Acquire Controlling Stake in Indonesia’s Panin Bank

    DBS Positioned to Acquire Controlling Stake in Indonesia’s Panin Bank0

    The deal, involving 86% of Panin Bank, would mark the first major move under DBS’ new CEO DBS Group, Southeast Asia’s largest bank by assets, is emerging as the leading contender to acquire a controlling stake in Panin Bank, Indonesia’s 12th largest lender, according to sources familiar with the matter. The Singaporean bank is competing

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  • Malaysian Retail Group Acquires Cold Storage and Giant Supermarkets in Singapore

    Malaysian Retail Group Acquires Cold Storage and Giant Supermarkets in Singapore0

    DFI Retail Group Sells Singapore Operations to Macrovalue in $125 Million Deal Singapore’s Cold Storage and Giant supermarkets are set to change ownership as DFI Retail Group announced the sale of its entire Singapore Food business to Malaysian retail company Macrovalue. The acquisition, valued at $125 million, includes 41 Giant outlets, 48 Cold Storage stores—comprising

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  • Singapore and Thailand Strengthen Trade Relations with New Agreements

    Singapore and Thailand Strengthen Trade Relations with New Agreements0

    Five MOUs signed to enhance collaboration in e-commerce, fintech, and more On March 14, businesses and trade organisations from Singapore and Thailand inked five memorandums of understanding (MOUs) to deepen their economic ties in areas such as e-commerce, fintech, and cross-border trade. These agreements were made during the 7th Singapore-Thailand Enhanced Economic Relationship Ministerial Meeting,

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  • SIM’s CEO Poon Joe Keen Steps Down After Five Months in Role

    SIM’s CEO Poon Joe Keen Steps Down After Five Months in Role0

    Leadership transition at one of Singapore’s oldest private education institutions The Singapore Institute of Management (SIM) has announced that its group chief executive, Poon Joe Keen, will step down on March 31, just five months after taking on the role. The institution stated that Poon, 54, is leaving to “pursue personal interests,” without providing further

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  • CDL CEO Sherman Kwek Points to Adviser as Key Source of Company Dispute

    CDL CEO Sherman Kwek Points to Adviser as Key Source of Company Dispute0

    Corporate governance concerns at City Developments Limited linked to Kwek Leng Beng’s adviser, Dr Catherine Wu. The ongoing internal dispute within City Developments Limited (CDL) has been attributed to Dr Catherine Wu, adviser to executive chairman Kwek Leng Beng, according to the company’s group chief executive, Sherman Kwek. On 27 February, Kwek, son of the

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