News Update Prevention of Money-Laundering Act, 2002 in Force from July 1, 2005

Updated: Jan 18

The UB group, which recently announced the merger of its spirit business into a single company, is in talks with a few offshore funds such as Government Investment Corporation (GIC) of Singapore and Capital International to buy a small chunk of the company. UB group sources said talks are on with international funds, including these two entities, but nothing has been finalised so far. The group is believed to be willing to sell about 20% to foreign institutional investors.


Singapore’s-GIC-eyes-20-stake-in-UB-Group-–-September-2005
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