Singapore Air to Raise Stake in Tiger After Losses Widen
(Oct 17, 2014) - Singapore Airlines Ltd. (SIA) will raise its stake in low-fare carrier Tiger Airways Holdings Ltd. (TGR) to make it a subsidiary, providing financial support to the unprofitable company after losses reached a record. Singapore Air will hold about 55 percent of Tiger Air by converting some securities into...
SIA coming to Tiger’s rescue
(Oct 17, 2014) - Cash-rich Singapore Airlines Ltd (SIA) is injecting up to $110 million to take control of loss-making affiliate Tiger Airways Ltd, shoring up the budget carrier while scrapping its regional ambitions as competition rages. Announcing a record quarterly loss that sent its shares tumbling as much as 10 percent,...
Four Indians nationals jailed for fraud in Singapore
(Oct 15, 2014) Four Indian nationals in Singapore were Wednesday given jail terms ranging between three and four years for fraudulent Goods and Services Tax (GST) tourist refund claims of about $570,000. They were ordered to pay penalties equivalent to three times the amount of tax undercharged, The Strait Times reported. Sundar...
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