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Daily Debrief: What Happened Today
A consortium led by private-equity fund Tower Capital, Temasek Holdings unit Blanca Investments and Eu Yan Sang International's group chief executive officer Richard Eu has launched a bid to take Eu Yan Sang private.
Developers in Singapore sold 745 private homes (excluding executive condominiums or ECs) in April 2016, down 11.6 per cent from the 843 private homes they moved in March 2016. Last month's figure is also down 36.2 per cent from the 1,167 units developers sold in April 2015.
Budget airlines formed the Asia Pacific region's first alliance comprising eight low-fare carriers from Japan to Australia to boost usage of their networks.
Bank of Singapore Ltd, which recently bought the wealth-management units of Barclays Plc in Asia, sees the region's private-banking industry shifting towards a fee- based model at the expense of the traditional practice of charging rich clients commissions on their transactions.
Citing unfavourable market conditions, Cosco Corporation (Singapore) said that the delivery of another jack-up drilling rig by its Nantong unit will be delayed.
CWT has confirmed that its controlling shareholders have entered into exclusive negotiations for a potential sale of their interests to a subsidiary of Chinese conglomerate HNA Group.
The Ministry of National Development and the National Research Foundation Singapore have awarded five research projects a total of S$14 million in funding under the Land and Liveability National Innovation Challenge.
The STI Today
Interest in blue chips has dipped sharply over the past few weeks but although dollar volume on Monday was still heavily concentrated in the 30 Straits Times Index (STI) components, speculative small caps were the main volume play, led by some of the names involved in the penny stock crash of October 2013.