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Daily Debrief: What Happened Today
Singapore's quota under the RMB Qualified Foreign Institutional Investor (RQFII) scheme will be doubled from 50 billion yuan to 100 billion yuan (S$11.1 billion to S$22.2 billion), as a result of robust interest from Singapore-based asset managers and investors keen to invest in China.
The Land Transport Authority (LTA) will be putting in S$12.5 million of funds over the next three years to roll out initiatives aimed at attracting and retaining talent in the public transport industry.
Aside from focusing on areas such as rail reliability and buses, the Ministry of Transport (MOT) will also pay attention to other key transport areas such as aviation and maritime, Transport Minister Khaw Boon Wan said in a blogpost on Monday.
Crab restaurant owner Jumbo Group was far from underwater at the stock's Catalist debut on Monday.
Heliconia Capital Management, owned by Singapore's Temasek Holdings, wants to help local firms, such as the operator of a chain of chili-crab restaurants whose shares debuted on Monday, in their global expansion.
To get an idea of how fragile Malaysia's external account is, consider this: the amount of foreign money invested in ringgit bonds and the dollar borrowings of its banks will together more than wipe out the country's currency reserves.
The STI Today
The debut of Jumbo Group, the general offer by Singapore Airlines for Tiger Airways and Neptune Orient Lines' announcement that it is in takeover talks were on Monday the main features of an otherwise bland session in which prices drifted in low volume. The Straits Times Index (STI) drifted within a narrow band for most of the day before finishing a net 12.75 points weaker at 2,997.72.