Loan default

- A + A KUALA LUMPUR (Aug 10): Swift Haulage Bhd plans to buy Singapore’s Watt Wah Petroleum Haulage Pte Ltd, which is involved in the transporting of petroleum products, for S$1.6 million (RM5.18 million) cash. It will also take over Watt Wah's shareholders' loan that amounted to S$8.5 million as on June 30. In a Bursa Malaysia filing on Wednesday (Aug 10), the integrated logistics service provider said it has entered into a binding order (BO) with Watt Wah’s sole shareholder, DLT Enterprise Pte Ltd for the acquisition. The BO is subject to a definitive share and purchase agreement to be inked between Swift Haulage and DLT. Besides the cash consideration, Swift Haulage said it will repay Watt Wah's shareholders' loan in full by refinancing the loan within two weeks after the acquisition is completed. "The amount of the shareholders' loan is subject to changes resulting from further repayment(s) between June 30, 2022 and the completion date," Swift Haulage said. … [Read more...] about Swift Haulage to acquire Singapore-based Watt Wah Petroleum Haulage

Najib's final appeal to proceed on Monday, with defence possibly discharging themselves - A + A PUTRAJAYA (Aug 10): The Federal Court said on Wednesday (Aug 10) that the hearing of former prime minister Datuk Seri Najib Razak's application to adduce further evidence in his RM42 million SRC International Sdn Bhd case to nullify the trial in which he was convicted to spend 12 years in jail, will proceed as scheduled on Monday. This comes after both the prosecution and defence agreed to exchange written submissions on Wednesday. The defence will begin by amending the notice of motion to adduce evidence and make submissions with regard to trial judge Datuk Mohd Nazlan Mohd Ghazali for three hours, after which the prosecution will also be given three hours to reply. Should the application to adduce further evidence be dismissed on the same day, the apex court will proceed to hear Najib's appeal over his conviction and sentence in the SRC case. This was decided by … [Read more...] about Najib’s final SRC appeal to proceed on Monday but defence counsels may discharge themselves

Keeping shelves stocked has been anything but a straightforward task for retail businesses over the past two years. Ongoing supply chain snags and changing customer preference due to the pandemic have forced many businesses to completely rethink the way they stock their shelves to accommodate supply shortages, shifting demand, and ongoing inflation --here are the strategies that seem to be working. Think short term When the pandemic started, Austin-based cleaning products company Branch Basics saw demand skyrocket overnight. Quickly, CEO Tim Murphy made the decision to hire an experienced demand planner, who still works for the company. "Once a month, we do supply and demand chain analysis, and make our best estimates of what we need to order, given that lead times have gone berserk," he says. With a supply chain expert on board, Murphy says that the company has been able to better predict potential issues, which could stem from small details; if trigger sprayers … [Read more...] about Lingering Inflation and Tangled Supply Chains Mean You Need to Rethink Your Inventory Strategy

Share to Twitter Share to Linkedin Daniella Pierson, who founded women-focused newsletter company The Newsette when she was 19, is now one of the wealthiest women of color in the U.S. and, at age 27, is younger than just about any self-made female entrepreneur with a nine figure fortune. A Latinx founder, Pierson built The Newsette from nothing to $40 million in revenues and profits of at least $10 million last year, she says. Two weeks ago she sold a small stake in The Newsette to an investor in a transaction that values the company at $200 million. It’s the first outside money she’s taken (besides a $15,000 loan from her parents, which she repaid), and she remains the company’s majority shareholder. She is also a cofounder and co-CEO of less-than-year-old mental health startup Wondermind with singer and actress Selena Gomez and Mandy Teefey (CEO of Kicked to the Curb Productions and Gomez’s mother). Her stake in that company, combined with cash and … [Read more...] about Meet The 27-Year-Old Latinx Entrepreneur Who Is Now Worth $220 Million