SINGAPORE has decided to block the initial public offering (IPO) of Cambodian casino operator NagaCorp Ltd, but the move is seen unlikely to affect the city-state’s status as a capital market hub.
The Monetary Authority of Singapore (MAS), which regulates the Singapore Exchange (SGX), said late on Monday it intended not to register NagaCorp's prospectus, effectively blocking its IPO, as it had reservations over the firm's ability to avoid money laundering.
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