September 6, 2018

China’s ‘Silk Road’ project runs into debt jam

CHINA’S massive and expanding “Belt and Road” trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt. First announced in 2013 by President Xi Jinping, the initiative also known as the “new Silk Road” envisions the construction of railways, roads and ports across the globe,…

Read more

POSTED BY

Wan Wei Han

September 5, 2018

Corporate Culture goes beyond that of the CEO

Stories of corporate culture gone off the rails have become a regular feature in the headlines. From rampant sexism and bullying, falsifying of critical safety records, to underhand tactics against competitors and outright fraud, breakdowns in standards of governance inevitably lead to demands for strong action to be taken. But while companies, governments and regulators…

Read more

POSTED BY

Wan Wei Han

September 4, 2018

4 years worth of Audited Financial Reports no Longer valid

Midas, a Chinese railway parts maker which has a primary listing on the mainboard of the Singapore Exchange and a secondary listing in Hong Kong, is being investigated in Singapore and China for fraud. Founded in 2000 by Patrick Chew, a Singaporean businessman with a rags-to-riches story, and a Chinese partner, Chen Wei Ping, trading…

Read more

POSTED BY

Wan Wei Han

August 31, 2018

Case Study: PwC UK auditor spent only 2 hours on BHS Audit

In an email seen by Sky News, Kevin Ellis, chairman of PwC UK, reportedly blasted partner Steve Denison over his audit work for BHS, which last week led to a six-figure fine and 15-year ban for Denison and a record £10m fine for the Big Four firm (reduced to £6.5m). In the email circulated to…

Read more

POSTED BY

Wan Wei Han

August 30, 2018

Independent directors to face 9-year limit – SGX

SINGAPORE-LISTED companies will have to justify the independence of long-serving independent directors – if suggested rule changes put forth by the Corporate Governance Council on Tuesday go into force within the second half of this year. To encourage firms to refresh and introduce more diversity into their boardrooms, the Council is proposing to enforce a…

Read more

POSTED BY

Wan Wei Han