Tag: Scheme
Written by Gabriel HerveyFebruary 8, 2021
SEC: 17,000 investors defrauded in $1.7B Ponzi-like scheme
Business Article
Feb. 4 (UPI) — The U.S. Securities and Exchange Commission charged investment adviser GPB Capital Holdings as well as three executives and their related entities for running a Ponzi-like scheme that defrauded more than 17,000 retail investors of $1.7 billion. The SEC charged GPB Capital’s owner and CEO David Gentile; Jeffry Schneider, the owner of
Written by Gabriel HerveyApril 8, 2020
Hyflux applies to postpone scheme meetings, extend moratorium due to COVID-19 safe distancing rules
News Business Article
SINGAPORE: Embattled Hyflux said on Wednesday (Apr 8) that it has applied to the Singapore High Court to postpone its scheme meetings scheduled this month, due to the heightened safe distancing measures put in place by local authorities to combat COVID-19. It is also seeking a three-month extension of its debt moratorium, which currently grants
Written by Gabriel HerveyApril 8, 2020
Germany caught up in mask fraud scheme
News Business Article
BERLIN: Authorities in Germany have fallen victim to a multi-million-euro fraud involving masks much needed in the coronavirus pandemic, prosecutors said on Tuesday (Apr 7). North Rhine-Westphalia, Germany’s most populous state and one of the hardest hit, paid 14.7 million euros for some 10 million masks in March only to discover they did not exist,
Written by Gabriel HerveyApril 6, 2020
Solidarity Budget: Criteria broadened for freelancers’ financial assistance scheme
News Business Article
SINGAPORE: The Government will expand the criteria of self-employed people who are eligible for cash support, Deputy Prime Minister Heng Swee Keat said on Monday (Apr 6). Under the previously announced Self-Employed Person Income Relief Scheme (SIRS), 88,000 freelancers such as taxi drivers, real estate agents and sole proprietors will receive S$1,000 a month over nine months
Written by Gabriel HerveyApril 4, 2020
COVID-19: Singapore to waive foreign worker levy, enhance Jobs Support Scheme, says Heng Swee Keat
News Business Article
SINGAPORE: The Government will waive the foreign worker levy for April and further enhance the Jobs Support Scheme, in a move to boost support for businesses during a month-long “circuit breaker” to stem the COVID-19 pandemic, said Deputy Prime Minister Heng Swee Keat. In a Facebook post on Saturday (Apr 4), Mr Heng said the Government remains
Written by Gabriel HerveyMarch 29, 2020
COVID-19: MOM to look into helping self-employed workers not eligible for new income relief scheme
News Business Article
SINGAPORE: The Ministry of Manpower will look into helping self-employed workers who are not automatically qualified for the recently announced new income relief scheme amid the COVID-19 outbreak. Manpower Minister Josephine Teo on Sunday (Mar 29) said that she was aware that some self-employed workers who are not eligible for the scheme are worried and hope
Written by Gabriel HerveyMarch 27, 2020
COVID-19: Eligible self-employed workers to receive S$9,000 in quarterly cash payouts under new income relief scheme
News Business Article
SINGAPORE: Around 88,000 people will automatically benefit from a new income relief scheme introduced to tide self-employed workers over the current period of uncertainty, said the Ministry of Manpower (MOM) on Friday (Mar 27). Earlier on Friday, Prime Minister Lee Hsien Loong said the Government would do all it could to stabilise the economy, as
Written by Gabriel HerveyMarch 18, 2020
Hyflux to hold scheme meetings on Apr 22 and 23 for creditors to vote on restructuring plan
News Business Article
SINGAPORE: Embattled water treatment firm Hyflux will hold scheme meetings next month for different classes of creditors to vote on its restructuring plan, it announced in a bourse filing on Wednesday (Mar 18). The first scheme meeting on Apr 22 will start at noon for banks, medium-term noteholders, trade creditors and contingent creditors, while the
Written by Gabriel HerveyMarch 17, 2020
Employers to receive more than S$600m this month in Wage Credit Scheme payouts: MOF, IRAS
News Business Article
SINGAPORE: Employers in Singapore will receive more than S$600 million in payouts under the Wage Credit Scheme (WCS) by Mar 31, the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (IRAS) said on Tuesday (Mar 17). More than 90,000 employers will receive the payouts, with small-to-medium enterprises (SMEs) receiving the bulk of the
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