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Pan-Electric Industries
Pan-Electric Industries was a Singapore-based company that specialised in marine salvage work, and had 71 subsidiary companies, including hotel and property interests, with a market capitalization of Singapore dollar, S$230 million. The company collapsed in December of 1985 due to massive unsettled forward contracts, forcing the Stock Exchange of Singapore (SES) and Bursa Malaysia, Kuala Lumpur Stock Exchange (KLSE) to shut down for three days. At its demise, the company had a total debt of S$480 million, and all its share (finance), shares held by 5,500 shareholders were found to be worthless overnight. As of 2000, it remains the largest corporate collapse in Singapore's history, and the only instance where the SES had to be unexpectedly closed. In the aftermath of the collapse, key people in the company such as Peter Tham, Tan Kok Liang, and Tan Koon Swan were prosecuted and given varying jail sentences. The collapse of the company shook public confidence in the SES, causing prices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south, the South China Sea to the east, and the Straits of Johor to the north. The country's territory is composed of one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the third highest population density in the world. With a multicultural population and recognising the need to respect cultural identities of the major ethnic groups within the nation, Singapore has four official languages: English, Malay, Mandarin, and Tamil. English is the lingua franca and numerous public services are available only in Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of California Press
The University of California Press, otherwise known as UC Press, is a publishing house associated with the University of California that engages in academic publishing. It was founded in 1893 to publish scholarly and scientific works by faculty of the University of California, established 25 years earlier in 1868, and has been officially headquartered at the university's flagship campus in Berkeley, California, since its inception. As the non-profit publishing arm of the University of California system, the UC Press is fully subsidized by the university and the State of California. A third of its authors are faculty members of the university. The press publishes over 250 new books and almost four dozen multi-issue journals annually, in the humanities, social sciences, and natural sciences, and maintains approximately 4,000 book titles in print. It is also the digital publisher of Collabra and Luminos open access (OA) initiatives. The University of California Press publishes in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Companies Of Singapore
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Authority Of Singapore
The Monetary Authority of Singapore (MAS) is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. History The MAS was founded in 1971 to oversee various monetary functions associated with banking and finance. Before its establishment, monetary functions were performed by government departments and agencies. The acronym for its name resembles ''mas'', the word for 'gold' in Malay, Singapore's national language – although the acronym is pronounced with each of its initial alphabets. As Singapore progressed, an increasingly complex banking and monetary environment required more dynamic and coherent monetary administration. Therefore, in 1970, the Parliament of Singapore passed the Monetary Authority of Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore Academy Of Law
The Singapore Academy of Law (SAL) is a statutory body in Singapore. SAL is a promotion and development agency for Singapore's legal industry. SAL also undertakes statutory functions such as stakeholding services and the appointment of Senior Counsel, Commissioners for Oaths and Notaries Public. It also organises the annual TechLaw.Fest with the Ministry of Law and MP International. The conference is a global gathering of legal and tech professionals and has featured speakers like Sir Tim Berners-Lee and Law Minister K Shanmugam. SAL has 3 sub-brands: Singapore Law Watch, Academy Publishing and LawNet (known as Legal Workbench in Malaysia). SAL also has 3 subsidiaries: the Singapore Mediation Centre, the SAL Ventures and the Asian Business Law Institute. History The Singapore Academy of Law Act was created by an Act of Parliament on 1 November 1988, and had its City Hall premises officially opened by former Prime Minister Lee Kuan Yew. With the Singapore Academy of Law (Am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankrupt
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tan Koon Swan
Tan Sri Dr. Tan Koon Swan (; born 24 September 1940) is a Malaysian political and corporate figure. He was the fifth president of the Malaysian Chinese Association (MCA), a component party of Barisan Nasional (BN) coalition; from November 1985 to September 1986. Personal life Tan was born in Puchong New Village in Selangor on 24 September 1940 to a poor family. He helped out at his parents' hawker stall while still in school. He studied in a missionary school, and after leaving school, he worked as a clerk with Lembaga Lektrik Negara (LLN) while studying part-time to finish his High School Certificate (HSC). He also worked as a laboratory technician with LLN, then moved on to be an investigator of Inland Revenue Board and a tax consultant with Esso. Tan married his first wife, Catherine Chong, who is a paraplegic and has two children with her. He then got together with his second wife, Penny Chang, fathering another three daughters. Tan, after facing many hiccups in lif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tan Kok Liang
Pan-Electric Industries was a Singapore-based company that specialised in marine salvage work, and had 71 subsidiary companies, including hotel and property interests, with a market capitalization of S$230 million. The company collapsed in December of 1985 due to massive unsettled forward contracts, forcing the Stock Exchange of Singapore (SES) and Kuala Lumpur Stock Exchange (KLSE) to shut down for three days. At its demise, the company had a total debt of S$480 million, and all its shares held by 5,500 shareholders were found to be worthless overnight. As of 2000, it remains the largest corporate collapse in Singapore's history, and the only instance where the SES had to be unexpectedly closed. In the aftermath of the collapse, key people in the company such as Peter Tham, Tan Kok Liang, and Tan Koon Swan were prosecuted and given varying jail sentences. The collapse of the company shook public confidence in the SES, causing prices of stocks to plunge and resulted in the ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Tham
Peter Tham Wing Fai (born in 1948) is a Singaporean stockbroker and the director of Pan-Electric Industries. A failure by him to observe a forward contract agreement that he negotiated with Tan Koon Swan was responsible for the company's collapse in 1985. Background Tham left Singapore in 1984, before Pan-El collapsed. In April 1986, he was traced to Seattle in the United States by FBI officials. He flew to Tokyo, from where he was extradited back to Singapore, immediately arrested, and charged with 26 counts of helping Tan Kok Liang to make "fictitious sharetrading transactions." He was eventually sentenced to a total of 10 years in jail—eight in 1986 for forging Pan-Electric share certificates and two in 1988 for criminal breach of trust. In February 1991, he was declared a bankrupt for owing S$25 million to various parties. Tham was released from jail early, in 1992. He divorced his wife, Joyce Aw, whom he had married in 1973, and married Kok Mei Yee in 1995. In 1998, he w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Share (finance)
In finance, financial markets, a share is a unit of Equity (finance), equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an enterprise. The owner of shares in a company is a shareholder (or stockholder) of the corporation. A share is an indivisible unit of capital, expressing the ownership relationship between the company and the shareholder. The denominated value of a share is its face value, and the total of the face value of issued shares represent the capital of a company, which may not reflect the market value of those shares. The income received from the ownership of shares is a dividend. There are different types of shares such as equity shares, preference shares, deferred shares, redeemable shares, bonus shares, right shares, and employee stock option plan shares. Valuation Shares are valued according to the various principle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century. The term "debt" comes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asian Survey
''Asian Survey: A Bimonthly Review of Contemporary Asian Affairs'' is a bimonthly academic journal of Asian studies published by the University of California Press on behalf of the Institute of East Asian Studies at the University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u .... The journal was established in 1932 as ''Memorandum (Institute of Pacific Relations, American Council)'', but was renamed ''Far Eastern Survey'' in 1935. The journal acquired its current name in 1961. The journal uses double-blind peer review. References External links * Homepage for the Institute of East Asian Studies at the University of California, Berkeley {{University of California, Berkeley Asian studies journals University of California Press academic journals Pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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