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http://www.channelnewsasia.com/news/singapore/state-courts-launch-motor/1080434.html must buy one: $15

SEC settles charges with Tesla's Elon Musk, will remain as CEO but relinquish chairman role and pay stiff finehttps://www.cnbc.com/2018/09/29/sec-settles-charges-with-teslas-elon-musk-will-remain-as-ceo.html The SEC settled charges with Tesla over Elon Musk's bid to take the company private on Saturday. As part of the settlement, Musk and Tesla will pay $20 million each, and the billionaire will step down as chairman of the board. The Securities and Exchange Commission settled charges withTesla CEO Elon Musk over his aborted bid to take the company private, with the billionaire remaining as the helm of the company but relinquishing his chairman title and getting slapped with a hefty fine. The SEC's enforcement action brings to a conclusion a saga which began in early August, when Musk announced via Twitter that he had secured enough funding for a massive private buyout of Tesla. The SEC complaint alleged that in doing so, Musk issued "false and misleading" statements, and failed to properly notify regulators of material company events. Under the deal's terms, Musk and Tesla neither admit or deny wrongdoing alleged by regulators. "This matter reaffirms an important principle embodied in our disclosure-based federal securities laws," SEC chairman Jay Clayton said in a statement. "Specifically, when companies and corporate insiders make statements, they must act responsibly, including endeavoring to ensure the statements are not false or misleading and do not omit information a reasonable investor would consider important in making an investment decision," Clayton added. As part of the settlement, which is still subject to court approval, Musk will also pay a civil penalty of $20 million and give up his role as chairman of the board for at least three years. Additionally, the SEC imposed a $20 million fine on Tesla itself, which will also be expected to appoint two new independent directors to the board, and institute sweeping governance changes. "Musk tweeted on August 7, 2018 that he could take Tesla private at $420 per share — a substantial premium to its trading price at the time — that funding for the transaction had been secured, and that the only remaining uncertainty was a shareholder vote," regulators said on Saturday. However, "in truth, Musk knew that the potential transaction was uncertain and subject to numerous contingencies. Musk had not discussed specific deal terms, including price, with any potential financing partners, and his statements about the possible transaction lacked an adequate basis in fact," they added. On the day Musk made the surprise announcement, Tesla's stock surged by over six percent — catching off guard the bearish class of investors with whom the billionaire has crossed swords in the past. 'The quickest settlement in history' The swiftness with which a deal was announced on Saturday was striking. A provisional settlement between the SEC and Tesla reportedly fell apart on Thursday, which led to regulators summarily filing suit. Carl Tobias, a law professor at the University of Richmond School of Law, said it may very well be "the quickest SEC settlement in history," and one that allows both sides to claim a semblance of victory. According to Tobias, it appeard that "it was better for each to compromise and not drag out this dispute. All secured something they wanted and gave up something." With securities regulators frequently criticized for not imposing tighter regulation on companies, a Tesla settlement allows the SEC to look like "a strict enforcer that is protecting shareholders," Tobias said to CNBC in an email. "Musk/Tesla continue to operate a successful company and perhaps behave better in the future. All are spared litigation costs and the bad publicity that could flow from prolonged litigation." Indeed, in recent days, some investors — many of whom have been wiling to discount Musk's unconventional style in favor of his perceived vision — had begun to bail on the stock. Tesla's shares, traded on the Nasdaq, closed down around 14 percent on Friday at $264, as Wall Street begun to fret over the company's ability to raise needed capital. Meanwhile, the company bonds had been falling recently, with $1.3 billion in debt coming due by March 2019. A widely circulated New York Times interview last month, in which Musk detailed the "excruciating" personal toll of running the company, set off alarm bells and led to talk of Tesla's directors getting him a second-in-command. Meanwhile, a steady stream of staff and executive departures have added to the sense of internal turmoil. Musk's prolific use of Twitter has created several high-profile headaches for him personally, as well as the company he founded. In settling the charges, regulators faulted Tesla for not exerting more control over Musk's tweeting. "The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk's tweets, a charge that Tesla has agreed to settle," the agency said in a statement. "The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla — including Musk's removal as Chairman of the Tesla board—and the payment by Musk and Tesla of financial penalties," it added. Musk's fierce war of words against short-sellers, or investors betting on the company's stock to fall, was one of the reasons he cited when he first floated the idea of Tesla going dark. In settling with Musk, the SEC said Tesla's board would be expected to "oversee" its founder's communications with investors. "The resolution is intended to prevent further market disruption and harm to Tesla's shareholders," added Steven Peikin, co-director of the SEC's Enforcement Division, in a statement.

Hi, i'm currently dealing with a direct seller regarding a car purchase. Right now my loan is approved and i'll meet him next week to pass him balance in cash/cashier order. I'm not sure whether he settled his full settlement with bank as I heard that even if he settle on the spot, it will take about 1 working day for LTA to allow the transfer for DBS auto loan. He informed me that his LTA pin is ready and will handover when I pass him the balance amount. I'm actually pretty confuse...lol

http://www.channelnewsasia.com/news/singapore/punggol-settlement/1263426.html More than 90 per cent of the outlets at the new food and beverage cluster at Punggol Point have been taken up, with tenants hoping it will become the next go-to seafood dining location after East Coast. SINGAPORE: More than 90 per cent of the outlets at the new food and beverage cluster at Punggol Point have been taken up; three months after the site received its Temporary Occupation Permit in April 2014. Tenants at Punggol Settlement hope it will become the next go-to seafood dining location after East Coast. With a growing population in the area and more recreational facilities coming up, some tenants say they are not too concerned about the so-called far-away place, though others add the lack of public transport to the area is a concern. Talks are ongoing to start a shuttle bus service from the nearby Punggol MRT station. "Many of the tenants are already operating right now. The rest are finalising their renovations and they should be operating soon,” said Sean Fong, marketing agent of Punggol Settlement. He added that the public can experience “full seafront dining at all restaurant units." "Many years back, there were a few popular restaurants here and they were selling seafood,” said Francis Ng, owner of House of Seafood. “I hope I can bring back those memories to those youngsters. A lot of youngsters are staying here, so I think there's a lot of potential." - CNA/ec Anyone has been there yet? Is it worth to go ?

Hi guys. Been a while. Hope everyone has been doing well. I'm going to be trading in my car with an existing loan for a new car (and taking minimum loan). I was wondering if anyone has managed to get their bank to waive the early settlement penalty (rule 78) if they took up another car loan from the same bank.

will this open up to future accident victim claiming more in an accident?

is this the first case that a willing settlement was rejected? one party admit and willing to pay, the other party suffer injury, but the judge dun see it that way!

Got into an accident this morning with a lorry - his fault, minor scrape on the side of my car - he wants to settle privately - question is - can a lorry driver afford it? I'm assuming he thinks he just needs to pay for the dent - which will be like $400 - $500 - but my previous experience when I claimed the other guy's insurance - also need to factor in car rental for two or three days while car is in workshop - which could amount to $1000 (I don't know what the going rate is for car rentals) - so all up might be $1500...not sure if lorry driver can afford this. Should I just go the insurance route?

Hi all, Like to seek the advice and expertise of everyone in this forum. I was involved in an accident with a Taxi late last year and till today it has not been settled yet. I didn't claim from the taxi insurance as my repair is only $100! But the Taxi is claiming his 'holiday expenses' on me! :angry: Anyway, my question is what if I change my insurance company upon my insurance renewal and the settlement is not solved yet? Is it still liable to settle for me?

I was told that nowadays if an accident occur, we shld not settle on the spot even if both parties willing to sign a black n white on the spot tat no reporting is required. My friend told me tat tis will affect my insurance if the other party really decided to report. I think what he is trying to say is that this issue can escalate to a much bigger n serious issue if either party decided to peruse the matter. Thus no matter how small the accident will be, the assessor must come into the picture to act as an eye witness n to access the seriousness of the damage even if is a 5cent coin size paint chip off. Really wana know the fact as don't Wana ended up doing something wrong and end up to my disadvantage. Thks.

Could i just ask if any bro here assist me for a minute,the loan amt 54k, interest at 2% per annum for 7 years,whats the full settlement figure after deducting 13mths paid up installment cause i use the dbs calculator hard to get a figure. thank you.

Hi, based on the following information, can anyone teach me how to calculate the full settlement of the loan? Besides the figure, is there other charges involved? Amount Finance: $64,000 Loan years: 10year(120 month) Interest: 2.45% Total interest: $17,280 Monthly instalment: $680 Full settlement after 24months.

Had a minor accident and was hit at the rear side. Not directly at the rear but rear side. so not a 100% win case. The other party is willing to compensate in cash which is more than the actual cost of repair at non AD workshop. I cannot locate any private settlement form from Chartis but thinks this one could be use? http://www.lifeisgreat.com.sg/en/jsp/pdf/o..._Settlement.pdf Under the MCF, I have to file a report with Chartis. Otherwise risk lossing NCD if they found out about non reporting although I think the odd of them knowing is rather low given the other party is already willing to private settle and close the issue. http://www.gia.org.sg/pdfs/Industry/Motor/MCF_Brochure.pdf The question is; by reporting the accident under No Claim-Private Settlement will it affect NCD and Premium come next Insurance renewal ? my insurer Chartis hasn't been able to answer this simple question. For the matter how does Motor Insurance company treats private settlement case? Thanks

If involved in an accident and decided to settle privately, can the other party change his mind and make an insurance claim? Payment made but no black and white. Anyone has experience with this? Thanks.

Just a question, if i want to sell a car and the car is still on finance (bout 1yr more to go), how do i go about settling the remaining $$$ of the loan when i have a buyer? Is there a penalty and how much do i have to top up? OR do i pay up whatever is remaining of the loan?

Hi I'm hit from behind by a car and entirely the other party fault. Proceed to do private settlement. But the repair of the boot was lousy and painting was like shyt with Wrinkles and waves. Have been to the workshop again yo get them to retify. Look nice again but after one wash and it's shyt again. Qns. Can I change to a new boot and claim cos I have not sign the private settlement form yet? Or is there any other way except accepting the farked up repair job.

Hi bros just yesterday my wife was involved in an accident so i created this private settlement form and decided to share it with you guys. Cheers

talk sibei Guai Lan & insist it's my mistake but i am sure he eat into my lane without signal at high speed, hitting my left headlight & corner (with dent + need respray) .. at that time no photo was taken. we jus exchanged particulars.. now shld i fight for the claim & claim against him also or shld I let him claim & let my insurance do the investigations on the taxi.. I chk with the workshop, the repair cost including legal fee & surveyor fee is ard $700. so what are the chances of me winning? If it's a 50-50 case, how much excess will i be paying to the carworkshop? Will my NCD be affected?

Hi guys, need some advice... I was driving in Suntec City Car Park and suddenly the road changed direction and couldn't go straight. I was a bit past the left turn which was the right direction so I changed to reverse gear. I checked the mirror and no cars so I press reverse. Before I knew it, there was a loud bang and hit the car behind. I believe the car behind was also not practicing safe driving and also accelerated into me. That's why there was a small hole in my back bumper and his front bumper. So the situation is this, currently i have zero NCD anyway and my insurance premium from AIG/Chartis is about 2.2K since I bought a new car and have no choice but to take up the comprehensive insurance offered by the agent. I was thinking of doing private settlement so as not to increase my insurance premium next year but I'm not too sure if it's worth it. The other party was driving a company leased car through Comfort Delgro so now I have to deal directly with Comfort Delgro. They wouldn't let me fix the car at my workshop but they got 2 quotes and the lowest was about 900bucks. So I'm thinking should I just pay this 900 bucks or ask them to claim my insurance and get my insurance to fight for me based on the fact that it's about 50-50. For my car, I already got it fixed by paying about 200 bucks by just asking them to fix the hole and spray paint over it since my own excess was 600 bucks. Not too sure what to do but just worried about the increase in premium next year. So if some experienced bros/sis can advice the next step, that would be great. Thanks.

Dear All, Just got an accident, got rear-end by another car. Bumper still attached, but part of it caved in and boot cannot close properly. Exchanged driver and insurance details. By right, should just claim insurance and case closed. But my car is already more than 7yrs old, plus already thinking of changing car this year, but not right now. So if I claim insurance and repair the car, then scrap it 3-6 months later... Quite wasted... Alternatively, discuss a private settlement with the other driver (~ $2-3k) and take the cash and scrap the car... About 6 months back, a dealer offered only $800 above paper value for my car... So treat it as a "dealer" buying it for $2-3k... At least the other owner save on next insurance premium renewal... It should be a win-win situation... Not sure whether I am doing the right thing here... Please advice... Cheers...

just fully settled my car loan with Hong Leong Finance should i be receivnig any documents from HLF or Tan Chong Motors? I was only given a payment receipt at HLF, and that's all. Would i be expecting a separate document e.g., car log card? thanks

I have a $30k 7 yr loan for my car. Really regretted going for such a long loan cos I was dangled the carrot of a $600 rebate for taking a 7 yr loan. Interest rate is 2.85% (effective 5.4% p.a.). I now have the cash to settle the entire sum (with the penalties as well). Have paid the installments for 18 mths already. Do you guys think it is a good idea to settle the amount in full rather than let the money sit in the bank and earn pathetic interest? Investment climate is really bad now too, so I don't see much opportunities to invest the $$$. What do you guys think? Hope can get some good advice from this forum. Tks in advance.

My wife got into a small car accident with another vehicle. The repair will costs less than $200 and i feel this is not worth to go through the insurance so we have agree to settle this privately. In order to protect both parties, we need a settlement agreement so there will be no future claims on this incident. Will appreciate if anyone has a template readily available for my reference. Thanks in advance.

Hi, need to get some advise on full settlement of my car loan at $40k. My car is 3 yr old and I intended to settle my car loan in full as dont have any investment plan for my extra cash. Is there any issues pertaining to 1) Any insurance issues if there is a claim? 2) Will it affect my resale value or 3) Will it make it more difficult to sell my car later? 4) Any others? Pls advise. Thanks

Just got a letter from my lawyer that Aunty Lucy is offering to settle my 3rd party claim at 88% of what my lawyer originally claimed for. Was kenna banged from behind when I was stationary at a slip road while giving way to vehicles on the main road. Not too sure about what I shd do cos it is quite clear cut that the other party is at fault. If that is the case, then why am I not able to claim 100%?? Is this an industry norm that it is very difficult to claim 100%? I scared that if I refused, the whole case will balloon into another Jonathan Lock case and make me famous. Any advice??