Singapore firm pushes ahead with Newcastle United bid

Singaporean-backed firm Bellagraph Nova says it is pushing ahead with its bid for Newcastle United Football Club.

The company has been criticised for inconsistencies about its assets and has retracted press statements. Newcastle bidIn an exclusive interview Ms Shen told the BBC that"bidding for Newcastle is part of our strategy because it's a well-known football club but still has room to improve, and we believe that improvement is good for the club as well as for our brand".

A £300m bid put forward by Saudi Arabia's Private Investment Fund fell apart in August due to protracted negotiations. But Ms Chen is confident about the pursuit of Newcastle United."We are always in contact and we are still very aggressive on trying to close the deal. Singapore-based corporate governance expert Mak Yuen Teen said it is not unusual for some companies to exaggerate their credentials or"window-dress".

"It's quite unbelievable that a $12bn company with 23,000 employees appear out of nowhere. Most likely they are claiming potential partners as part of their business," added Mr Yuen, who is an associate professor of accounting at the National University of Singapore.

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