[Hong
Kong] Repayment of Trade Facilities Deferred by the Banking Sector for Another
90-day Period
HKMA News, 29 Jan 2021
The HKMA together with the Banking Sector
SME Lending Coordination Mechanism (Mechanism) announced a 90-day repayment deferment
for trade facilities under the Pre-approved Principal Payment Holiday Scheme. Under
the Scheme, which was launched in May last year, trade loans have been granted
90-day extension respectively in May, August and November last year. Some of
these loans will start to fall due in February 2021. As the evolving COVID-19
pandemic continues to weigh on economic activities, the Mechanism has agreed
that corporate customers in need can further extend their trade facilities for
another 90-day period.
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[Mainland China] China
stresses party leadership in corporate governance of banks and insurers
Business Times, 29 Jan
2021
China's banking and insurance regulator
issued draft rules in which emphasised stronger Communist Party leadership in
both state-owned and private banks and insurers to contain corporate governance
risks. The draft rules also limited the number of financial institutions one
single individual can be appointed to as the independent director in order to
restrain interest transfers. It also urged all lenders and insurers to shoulder
responsibilities in environmental, social and corporate governance.
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[Hong Kong] Notice
inviting claims in respect of Hong Kong Wan Kiu Investment Company Limited
SFC News, 1 Feb 2021
The Investor Compensation Company Limited
(ICC) invites clients of Hong Kong Wan Kiu Investment Company Limited, who
believe they have sustained a loss as a result of a default by Wan Kiu, to
lodge an application for compensation with the Investor Compensation Fund.
Full text: click here
[Singapore] Singapore
Police Force and MAS investigate companies under CoAssets Group
MAS Enforcement, 1 Feb
2021
On 12 January 2021, the Commercial Affairs
Department of the Singapore Police Force and the Monetary Authority of
Singapore launched a joint investigation into various companies under CoAssets
Ltd for possible offences under the Penal Code (Cap. 224) and the Securities
and Futures Act (Cap. 289) (SFA). The joint investigation stems from complaints
and feedback received from members of the public regarding suspected misconduct
by CoAssets Group Companies. Within the CoAssets Group Companies, only CA
Funding Pte Ltd is regulated by MAS, as a capital markets services
licensee.
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