Latest news with #EGR
Yahoo
7 days ago
- Business
- Yahoo
Singapore's ‘Super Rich In Korea' star David Yong hit with fifth charge over S$61m promissory note scheme
SINGAPORE, June 3 — Businessman David Yong, known for his appearance in Netflix's Super Rich In Korea, was handed a fifth charge involving more than 1,000 promissory notes linked to his company, Evergreen GRP Holdings (EGR). The 38-year-old Singaporean, whose full name is Yong Khung Lin, is the CEO of Evergreen Group Holdings and had previously faced four charges related to account falsification, according to a report published in The Straits Times today. His latest charge accuses him of consenting to the issuance of promissory notes between July 2023 and July 2024 that violated the Securities and Futures Act (SFA). According to the police, over S$61 million (RM201 million) was raised through more than 1,000 notes promising a 10 per cent annual interest, without lodging a required prospectus with the Monetary Authority of Singapore. A police spokesperson warned the public to be cautious of securities offers made without a registered prospectus, which must include sufficient information for investors to make informed decisions. Yong was first arrested on August 1, 2024, three months after appearing on the Netflix show. His initial charge, brought two days later, involved allegedly abetting Jolene Low Mong Han to falsify a tax invoice dated September 1, 2021, for a purported bulk sale of household items. Yong was subsequently charged in connection with two more falsified invoices dated December 16, 2021, related to the sale of furniture to separate entities under Evergreen Assets Management. On August 15, 2024, he faced a fourth charge, also for allegedly falsifying documents belonging to Evergreen GH. Yong's pre-trial conference is scheduled for June 5.
Yahoo
01-04-2025
- Automotive
- Yahoo
Mixed feedback on revised Gaslight Village plan, which reduces parking
EAST GRAND RAPIDS, Mich. (WOOD) — Developers hoping to revitalize Gaslight Village in East Grand Rapids presented a revised plan at Monday night's commission meeting after public feedback on their previous proposal indicated that it was too big and too dense. The to alleviate those concerns Monday prompted new outcries. Overwhelmingly, the community had concerns about parking. 'It's too much surface parking,' one public commenter said. 'Not enough green space.' 'If you build more parking spots, cars will come,' another said. 'It's a simple formula.' '(The plan) just prioritizes vehicles,' one commissioner added. But not all feedback called for fewer spots. 'We need more parking than we had before, not less,' another public commenter said. Ahead of the public comment period, developers detailed the changes they made to the plan, including reductions in the number of housing units, and new commercial space. Developer revising Gaslight Village plan, East Grand Rapids says 'We explored a lot of alternative plans since we last met,' Scott Weirda of Gaslight Investors LLC said. 'Frankly, it's been fun going through a lot of ideas to work on traffic, height, density.' The most visible changes to the plan that were presented on Monday were meant to satisfy the loudest outcry at — that the buildings were too tall. Those changes, though, may have caused this month's malcontent. Notably, the maximum height of the new parking structure on the north end of the development was reduced from 4 levels to 2 levels, and the seven-story building at the south end of the complex was reduced to five stories by removing two floors of contained parking. 'This all comes with changes to parking and to traffic,' Scott Vyn, design principal at Integrated Architecture, said during his presentation. East Grand Rapids residents discuss Gaslight development Commissioners and commenters voiced their thanks to the developers for trying to listen to community concerns and making the changes that they did, but insisted they may have missed the mark. More pedestrian-centric design, green space and fewer street spaces were requested. Weirda said that they are looking forward to advancing beyond this concept approval stage so that they can begin to plan the specific design and detail of the development. As part of a rule enacted during this process in EGR, no formal action can be taken on this plan for at least 30 days. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Chicago Tribune
17-02-2025
- Business
- Chicago Tribune
Indiana House legislation focused on nuclear energy moves to Senate
A bill focused on bringing more nuclear power to Indiana has passed the House of Representatives and moved on to the Senate. House Bill 1007 — authored by Rep. Ed Soliday, R-Valparaiso — would provide a tax liability for expenses related to manufacturing small modular nuclear reactors. Indiana has no nuclear power plants, but state leaders have pushed for nuclear power. According to Post-Tribune archives, the bill would establish procedures for energy utilities to request from the Indiana Utility Regulatory Commission an expedited generation resource plan to meet customer load growth that exceeds a specific threshold; a generation resource submittal for the acquisition of a specific generation resource in accordance with an approved EGR plan; and a project to serve one or more large load customers. The bill says project development costs for a public utility should recover 80% of the approved project development costs under the approved rate schedule and defer the remaining 20% of approved project development costs for recovery as part of the utility's next general rate case before the IURC, according to Post-Tribune archives. House Bill 1007, on Feb. 13, passed the House in a 67-25 vote. It was referred to the Senate on Feb. 14, according to the Indiana General Assembly website. 'It's an important bill,' Soliday said. 'A lot of this deals with the future. Progress is made when gray-haired old men … plant trees whose shade they'll never enjoy.' Soliday expects the Senate to read the bill during the second week in March, he told the Post-Tribune Monday. Environmental activists called House Bill 1007 'an unnecessary energy inflation' for families, according to a Feb. 13 news release. Various organizations say the bill creates 'a cumbersome process' to retire coal plants. Proposals from lawmakers could make Indiana one of the most coal-reliant states in the country, according to the news release. 'Hoosier communities need Indiana lawmakers to focus on protecting the interests of hard-working families instead of putting together one of the largest corporate handouts for monopoly utilities and tech companies that Indiana has ever seen,' Robyn Skuya-Boss, Hoosier chapter director for the Sierra Club, said in the news release. Ashley Williams, executive director of Just Transition Northwest Indiana, said House Bill 1007 is an attack on region residents, mentioning residents who attended packed IURC hearings this winter about a proposed NIPSCO electric rate increase. The 22% electric rate increase would cost NIPSCO's typical residential customers an additional $32 each month, according to the utility, but the Citizens Action Coalition says the increase is more like $45, according to Post-Tribune archives. 'For far too long, Northwest Indiana has been the fossil fuel industry's dumping ground,' Williams said in the news release. 'This legislation opens the floodgates for faulty technologies that will treat our backyards as testing grounds for unproven SMRs to serve hyper-scale data centers, which will siphon off the only drinking water source for millions and leave us to foot the bill.' Soliday stressed the importance of small modular nuclear reactors, saying that one might not be certified for about 10 years, but a lot of states will move to those as an energy source. SMRs are advanced nuclear reactors that have about one-third generating capacity of traditional nuclear power reactors, according to the International Atomic Energy Agency. A study from Purdue University found that SMRs release carbon-free electricity that have the capacity of Indiana growing energy needs. The Purdue study found that R M Shahfer, a coal site in Jasper County, would be suitable for nuclear energy. The study also looked at Bailly in Porter County and Michigan City's existing coal plant, but both were deemed unsuitable. Nuclear energy is the most dangerous, expensive and dirtiest way to generate electricity, Kerwin Olson, executive director of the Citizens Action Coalition, previously told the Post-Tribune. Olson is also concerned about the waste and construction costs. '(SMRs) are incredibly, incredibly financially risky,' he said. 'Utility companies would not even consider building (SMRs) or advanced nuclear reactors without the full backing of American taxpayers and ratepayers' subsidies and incentives.' SMRs aren't new technology, Soliday said, adding that they have been in nuclear submarines and aircraft carriers for 70 years. He encourages people to do their research on SMRs to see how they would benefit the state. 'Do what I did,' Soliday said. 'Do your homework.'
