Debt

Retail Asia13/04/2021

Singapore gift and homewares chain Naiise has closed its last store – the Iconic at Jewel Changi Airport – suggesting the end of the eight-year-old brand. Multiple sources say Naiise has collapsed due to its inability to paying debts to suppliers, and weak sales in the wake of the Covid-19 pandemic. Opened in May 2019, […]

Retail Asia11/09/2019

Californian fast-fashion retailer Forever 21 is reportedly preparing to file for bankruptcy protection after failing to reach a deal to refinance its heavy debt load. Citing people with knowledge of the plans, Bloomberg has reported that the company has been in talks for additional financing and working with a team of advisers to help it […]

Retail Asia03/05/2019

Citibank Singapore announced that it is the first bank in Singapore to introduce instant in-principle approval for debt consolidation plans. Customers applying online for Citibank Singapore’s debt consolidation plan will receive an immediate indication of their application status, as the bank is the first in Singapore to offer eligible customers instant in-principle approval. «The ability […]

Retail Asia31/01/2019

Kering is facing an Italian claim for €1.4 billion (£1.2 billion) in unpaid taxes. The company’s Swiss-based Luxury Goods International (LGI) subsidiary has been under investigation for allegedly avoiding tax on earnings generated elsewhere. The probe has largely centred on Gucci, Kering’s star brand and biggest revenue driver. Italy’s tax police carried out checks at […]

Retail Asia23/11/2018

Foreign flows into Asian bonds turned positive in October, in stark contrast to the sharp outflows faced by equity markets due to slowing earnings and concerns over trade. Data from central banks and bond market associations showed overseas investors bought a net US$2.24 billion (RM9.4 billion) in Malaysian, Thai, Indonesian, South Korean and Indian bonds […]

Retail Asia15/11/2018

Thirteen of 17 listed banks have seen their bad debts rise in the first 9 months of this year, according to banks’ financial reports. Experts blame this on recent credit growth, loose lending practices and accumulated old non-performing loans. Bad debts of VietinBank, the country’s second largest lender by assets, rose by 34.5 percent to […]

Retail Asia25/10/2018

Sears, a U.S. retail titan that has filed for bankruptcy, owes a Vietnamese textile company upwards of $4 million. Sears Holdings filed for bankruptcy on October 15 after failing to make a $134 million debt payment tranche. Its subsidiaries, Sears, Roebuck and Kmart are partners of Vietnamese textile firm Thanh Cong, contributing about 7 percent […]

Retail Asia02/08/2017

Troubled luxury handbag retailer Oroton has secured a six month extension of a $35 million finance package with Westpac in a deal that could result in a major shareholder controlling the company’s debt. Oroton’s former director Will Vicars, a fund manager who holds an 18.2 per cent stake in the retailer, and Westpac have agreed […]

Retail Asia04/04/2017

Bad debt in Q2 and in the whole of this year would stay unchanged or dip slightly from Q1. About 90 percent of financial institutions operating in Vietnam are expected to reap higher pre-tax profit in 2017, while they could control or reduce bad debts this year, a State Bank of Vietnam (SBV) survey has […]

Retail Asia10/09/2015

The Indonesian affiliate of Malaysian budget carrier AirAsia Bhd is planning to convert debt into shares to meet a new government rule on equity. The debt will be converted into preference shares which carry no voting rights, Sunu Widyatmoko, President Director of PT Indonesia AirAsia, told Reuters in a text message. He declined to disclose […]

Retail Asia29/12/2014

Various-World-Currencies-Dollar-Yuan-Yen-Euro-Pound_0.jpg

The Japanese spent more than they saved in the 12 months ended March 2014, the first time that’s happened since the data set began in 1955, with the savings rate at a negative 1.3 percent in the last fiscal year. “It’s something to keep an eye out for in the medium-term because Japan’s debt has […]

Tag: Debt

Singapore’s Naiise all but collapses under debts

Forever 21 may seek bankruptcy protection in court

Citibank Singapore to Instantly Approve Debt Consolidation Plan

Kering faces €1.4 billion Italian tax bill

Foreign flows into Asian bonds turn positive, Malaysia leads

Vietnamese banks report Jan-Sept rise in bad debts

Bankrupt US retail giant Sears owes Vietnamese firm $4 million

Debt deal secures Oroton funds extension

Most banks in Vietnam expect profits up, bad debts stable this year

AirAsia’s Indonesian affiliate plans debt-to-equity conversion

Save no more? Are Japanese turning spendthrift?