Latest news with #WangJie
CNA
01-07-2025
- Business
- CNA
Jail for former CEO who gave MOM false information to get work passes for his companies' foreign investors
SINGAPORE: In exchange for investment funds, the former chief executive officer of a building solutions company agreed to apply for employment passes for two foreigners under his firm and its subsidiaries. While doing so, he submitted false statements to the Ministry of Manpower (MOM) in relation to the hiring of the two foreigners. Chu Sau Ben, 59, who helmed Libra Group Limited, was sentenced to a five-week jail term on Monday (Jun 30) after pleading guilty to a charge under the Employment of Foreign Manpower Act. Two other charges were taken into consideration for his sentencing. He served as director of Libra Group Limited, Libra Engineering and Libra Building Construction from 1997 until 2020 and was also CEO and executive chairman of these companies at the time of the offences. Through its subsidiaries, Libra Group Limited mainly provided mechanical and electrical engineering services as a sub-contractor such as the installation of air-conditioning, electrical and plumbing systems. In 2018, his companies began facing financial difficulties and he sought funds from investors in a bid to expand the business overseas. The next year, he was introduced to a woman named Wang Jie, a director of Hai Sin International, which was in the business of helping clients buy over, invest in or start businesses in Singapore. It also engaged in programmes in China to persuade foreigners to invest in Singapore. Wang told Chu that she would be able to introduce people who could invest in his companies, but in return, he would have to pledge part of his shares in his companies to these people in addition to applying for employment passes for them. Chu agreed. Wang is facing similar charges under the Employment of Foreign Manpower Act and her case is pending before the courts. She referred two foreigners by the names of Liu Lei and Chen Bingchuan to Chu. Both foreigners had no intention of working in Singapore and just wanted to legalise their entry and residence in the country. Chu's companies received S$2 million (US$1.6 million) from Chen and no less than S$1 million from Liu in exchange for applying for their work passes. Chu agreed to apply for an employment pass for Liu under Libra Engineering and Liu pre-paid S$360,000 to Wang for his purported monthly salary of S$10,000 a month for 36 months. On Aug 15, 2019, a declaration form for Liu's employment pass was submitted to MOM. This form falsely stated that Liu would be employed by Libra Engineering as a regional project manager. The form was signed by Libra Engineering's general manager under Chu's instructions. Liu's employment pass was approved, but investigations showed that he was never employed and never performed any work for the company. Chu and Liu did not keep in contact and Chu did not know what Liu was doing. MOM's prosecutors Amos Tan and Khong Zi-Wei sought six to eight weeks' jail for Chu. They said that Chu's offence "involves the very mischief that the Employment of Foreign Manpower Act seeks to prevent" and that he allowed a foreigner to obtain a work pass without any intention for the person to work for the employer declared in the pass. "At the outset, the accused's intention ... was for the sole purpose of receiving financial gains," the prosecutors added in calling for a deterrent sentence. They also said that the offences were discovered only around two years later and after comprehensive investigations by MOM, which highlighted the difficulties in detecting the crime.
The Star
12-06-2025
- Business
- The Star
Asia sees ‘concerning' rise in long payment delays amid turbulence: report
Companies across the Asia-Pacific region – and especially those in China – are becoming more cautious about selling on credit, as a turbulent global economy leads to a 'concerning' rise in long payment delays, a new report has found. Two-thirds of Asia-Pacific firms expect payment terms to shorten over the next six months, which suggests 'caution and higher priority for cash preservation amid heightened uncertainty', global trade credit insurer Coface found in its latest Asia Payment survey released on Wednesday. Though payment terms edged up slightly in 2023, rising from 64 days to 65 days, they remained well below the 2018-2022 average of 69 days, reflecting tighter credit conditions, according to the survey of 2,600 companies conducted between December 2024 and March 2025. Mainland China recorded the steepest drop in the share of firms offering sales on credit among the nine economies surveyed, which also included Australia, Hong Kong, Taiwan, Japan, Malaysia, India, Singapore and Thailand. Some 65 per cent of Chinese firms said they offered payment terms in 2024, down 14 percentage points from a year earlier, the report said. India followed with a nine-point drop, while Hong Kong posted the biggest increase – up 10 points to 91.4 per cent. The share of Asian companies reporting payment overdues fell to a record low of 49 per cent last year, from 60 per cent in 2023, which the report attributed to 'longer payment terms in most markets [that] provided more time for companies to settle payments and avoid overdues'. But what Coface called a 'concerning trend' was the sharp rise in Asian firms reporting ultra-long payment delays – lapses of over 180 days – on fees exceeding 2 per cent of their annual turnover, which jumped to 40 per cent in 2024 from 23 per cent a year earlier. The company said this signalled 'a sharp deterioration in credit risk', adding that based on its experience 80 per cent of those ultra-long payment delays eventually led to defaults. Competition in the domestic market is extremely fierce, with the payment cycles becoming longer and delayed payments widespread A similar pattern was seen in China, where 49 per cent of affected firms reported such overdues in 2024 – up sharply from 33 per cent a year earlier. Wang Jie, the owner of a footwear factory in southern China's Guangdong province, is one of many Chinese suppliers suffering from long payment delays. Wang is still waiting to receive an overdue payment of more than 260,000 yuan (US$36,200) from the subsidiary of a large Shenzhen-based clothing company, even after winning a lawsuit related to the delayed payment in 2023. 'Competition in the domestic market is extremely fierce, with the payment cycles becoming longer and delayed payments widespread,' Wang said. The current economic uncertainty – mainly driven by slower demand, excessive competitive pressure and rising costs – has made Asian companies pessimistic about their future prospects. According to the report, 33 per cent of respondents expected their business activity to worsen this year, up from just 14 per cent in 2023. 'The economic outlook for 2025 continues to weaken on mounting trade risks amid high uncertainty over global economic policy,' the report added. Over the next six months, 57 per cent of respondents in the Asia-Pacific region anticipated deteriorating payment behaviour, while just 32 per cent expected any improvement. Additional reporting by He Huifeng - SOUTH CHINA MORNING POST
RTHK
28-05-2025
- Entertainment
- RTHK
Shenzhou-20 crew sends video greetings from space
Shenzhou-20 crew sends video greetings from space In their video greeting, Chinese astronauts - from left - Wang Jie, Chen Dong, and Chen Zhongrui - reflected on their childhood aspirations as Young Pioneers. Photo: CCTV The Shenzhou-20 crew on board China's orbiting space station on Wednesday extended greetings to children in celebration of the upcoming International Children's Day on June 1. The crew, made up of Chinese astronauts Chen Dong, Chen Zhongrui, and Wang Jie, reflected on their childhood aspirations as Young Pioneers to contribute to China's space exploration. They expressed hope that today's youth would actively play a role in the nation's progress. The Chinese Young Pioneers (CYP) is a national organisation for Chinese children. "I still remember the first time I put on the [young pioneer's] red scarf. It was then that I made a silent vow to become someone who could contribute to society. That childhood dream has guided me through my journey in the aerospace field, and it's what has brought me to space today," said Chen Dong. "Back when I was a young pioneer, I was fascinated by the blue sky and curious about what was beyond Earth. When China's first manned spacecraft, Shenzhou-5, was launched, I was thrilled, and it strengthened my determination. Today, I've finally realised my dream and am able to work aboard China's space station," said Chen Zhongrui. "I have been remembering clearly the first line of the CYP anthem: 'We are the successors of communism.' This song has inspired generations of young pioneers to honour the legacy of our revolutionary predecessors, following in their footsteps with courage and striving toward our ideals. "When I sang this as a child, it always filled me with a sense of strength. Today, I'm proud to be an astronaut, contributing to our country's space endeavours. In the future, I hope you, the younger generation, will carry the baton and help China's space exploration to take steadier and farther steps," said Wang Jie. "This time, we brought the CYP flag to China's space station.... We believe you will take up the baton of history, starting by learning from the pioneers and growing into true pioneers, with the ambition to serve and strengthen our nation, and to be resolute and responsible strivers." Chen Dong added. The crew declared a "happy Children's Day to all the children" as they waved a Chinese Young Pioneers flag. The Shenzhou-20 manned spacecraft was successfully launched on April 24, 2025. (CCTV)
Yahoo
22-05-2025
- Science
- Yahoo
Chinese astronauts add debris shields to Tiangong space station during 8-hour spacewalk (video)
When you buy through links on our articles, Future and its syndication partners may earn a commission. A pair of taikonauts have completed their first spacewalk aboard China's Tiangong space station, according to the China Manned Space Agency (CMSA). Two Shenzhou-20 crewmembers performed the mission's first extravehicular activity (EVA) on Thursday (May 22). The duo worked outside the Chinese low-Earth orbit laboratory for eight hours, wrapping up at 4:49 a.m. EDT (0849 GMT; 4:49 p.m. local time in Beijing). Chinese astronauts Chen Dong and Chen Zhongrui served as the EVA's assigned spacewalkers, while their crewmate Wang Jie assisted from inside Tiangong with mission operators coordinating on Earth. Dong and Zhongrui exited the space station through the node cabin of the Tianhe module, marking the first time that airlock has been used for an EVA since Tiangong became operational. This was the 19th time taikonauts aboard Tiangong have conducted an EVA; many of these spacewalks have focused on installing debris shields to the station's exterior. With assistance from the station's robotic arm, Dong and Zhongrui successfully positioned a protective sheet on a designated exterior location on Tiangong. The pair also performed routine station maintenance and equipment inspections. RELATED STORIES: — 1,000 days in space! Core module of China's Tiangong space station hits milestone — China launches Shenzhou 20 astronauts to Tiangong space station (video) — Spacewalks: How they work and major milestones The Shenzhou-20 crew arrived at Tiangong on April 24, and are just about one month into their six-month-long mission. The trio replaced China's Shenzhou-19 astronauts, who returned to Earth on April 30. China has at least one more crewed mission planned for 2025. Shenzhou-21 is expected to launch sometime this fall. The Tiangong space station was completed in 2022 and has a continual occupancy planned for at least the next decade. The station presently consists of three main modules, but allows for China to launch more should they wish to expand the orbiting lab.
South China Morning Post
13-05-2025
- Business
- South China Morning Post
China's factories race to ship goods amid US trade truce: ‘everyone's rushing'
Within hours of Beijing and Washington announcing a temporary truce in their ongoing trade war on Monday, production lines across China began grinding back into gear. Advertisement Chinese factory owners say they quickly received a barrage of messages from US buyers, demanding they resume production on orders that had been frozen due to sky-high tariffs – and expedite as many deliveries as possible. Now, those beleaguered exporters are rushing to capitalise on the 90-day pause in the tariff conflict – while also preparing for what they perceive as an inevitable return to instability due to the turbulent leadership of US President Donald Trump. Wang Jie, who runs a footwear factory in Guangdong province, had been forced to close down a production line in April, after her US clients suspended their orders following Trump's 'Liberation Day' tariff announcement. But the site is now operating at full speed once again, according to Wang, as those same clients urge her to ship their shoes while the tariffs remain relatively low Advertisement 'A client who has placed orders for May through August requested this morning that we resume production on the May order and deliver as soon as possible,' said Wang, adding that the fate of the orders for June to August would depend on the status of US-China trade negotiations.
