Trading in shares stopped
NZPA-Reuter Singapore Singapore and its neighbour, Malaysia, have halted all share trading to avoid panic selling as the collapse of a major industrial group cast further gloom on the island State’s already ailing economy. The stock exchanges of Singapore and Kuala Lumpur said that the suspension was to provide a cooling-off period after banks and other creditors moved to put PanElectric Industries, Ltd, into receivership late on Saturday.
The creditors’ move came after a failure to agree on a rescue package for the locally-based multinational, which is struggling under debts of $682.5 million.
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Press, 3 December 1985, Page 10
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97Trading in shares stopped Press, 3 December 1985, Page 10
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