Five billionaires, comprising three from China, one from Indonesia and one from South Korea, were the biggest wealth losers in the world on Monday, with a combined net worth decline of US$5.3 billion.
After nine failed food ventures and losses totaling SGD140,000 (US$109,400), a Singaporean father-of-two is starting again with a new business, delivering beverages made from his own home.
Liquidators handling the collapse of True Yoga and True Fitness in Singapore have received claims from around 3,300 creditors following the sudden closure of all their outlets last month.
A long-established Hong Kong developer has sold a retail shop it held for more than 50 years to an heir of Swiss underwear maker Triumph, a deal analysts described as “highly unusual.”
A four-room flat at Pinnacle @ Duxton has sold for SGD1.59 million (US$1.24M), setting national resale records for both the total price and price per square foot for this flat type.
The U.S. Department of Homeland Security has proposed that international students pay at least US$70,000 in training fees if they want to work in the country, a move that is set to affect tens of thousands of Chinese and Indian students.
Kenangan Coffee, the Indonesian chain with over 1,500 outlets backed by tennis star Serena Williams and rapper Jay-Z, is weighing an initial public offering on the Singapore Exchange, with plans to go public within 24 months.
Thailand is considering imposing a THB1,000 (US$30) departure tax on people flying out of the country, as the government seeks public feedback on draft legislation for the measure.
Vingroup has signed an agreement with French rail giant Alstom to acquire 200 fully automated metro trains for Hanoi, with more than half to be assembled in Vietnam.
Malaysia is emerging as a middle ground for Hong Kong and mainland Chinese property investors seeking Singapore-like stability at prices closer to those in Thailand, analysts say.
Siam Piwat Group, the Thai luxury property developer behind upscale Bangkok landmarks including Siam Paragon and ICONSIAM, has unveiled plans for a 10 billion baht ($300 million) megaproject in Phuket, the country’s largest island.
China’s second-richest man Zhong Shanshan was among the world’s five biggest wealth losers on Tuesday after US$578 million was wiped away from his fortune.
