Chitchat Sweiber under quiet investigation

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An honorable member of the Coffee Shop Has Just Posted the Following:

Looks like there is more to the sudden "6 weeks implosion" claimed by DBS CEO and rightly rejected by anyone with a brain. Understand, MAS and CAD are looking into the company for withholding material information and not disclosing it to SGX in a timely manner. Major contract worth $700m previously announced in 2014 to commence in 2015 was deferred by the client but not reported by Sweiber amongst other things.

Even more interesting is that only DBS has massive exposure while the Merrill Lynch and Citi had stopped much earlier in view of the industry troubles with decline in oil prices. Company though in the engineering business is run by 3 accountants who appear to be spending more time on financial wizardry than engineering.

Raymond God is also a PAP member and Patron and former chairman of CCC. I believe it is Punggol North.

Was DBS put in a difficult position?


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