Pacific Andes, once the world's biggest fish filleter, suspected by New York bankruptcy trustee of using cash raised to buy fish to fund $800 million takeover. The group denies the claim.
The Japanese company plans to reduce its reliance on bank loans by borrowing from subsidiaries with ample cash in a bid to raise $1.8bln of its $2.7bln funding needs.
Almost nine in ten companies operating in China experienced some form of fraud in 2016, with one third naming senior/middle management as key perpetrators, according to a recent Kroll report.
Singapore’s tax authority rolls out new rules on transfer pricing reporting. Multinationals will have to invest in people and resources to ensure they are compliant.
Both China and Hong Kong are attempting to tackle businesses that have deliberately mis-invoiced goods traded across the border to sneak money offshore.
Banking integration is widely seen as an obstacle to a truly united Asean economic community, but Indonesia, Malaysia and the Philippines have made progress on the issue.
Keen to appease treasurers, the Bank of Thailand plans to relax foreign exchange regulations to make the country more attractive for setting up corporate treasury centres.