The Monetary Authority of Singapore (MAS) has asked BSI Bank to shut down its merchant bank operations in Singapore over alleged breaches of anti-money laundering rules and "gross misconduct" by certain staff.
- BSI Group CEO Coduri resigns; board member Isolani to take reins
- Singapore, Swiss regulators claim internal lapses, serious misconduct by BSI in 1MDB case
- BSI says it has cooperated fully with Swiss, Singapore authorities in 1MDB probe
The Housing & Development Board (HDB) of Singapore on Tuesday launched 8,940 flats for sale under the May 2016 Build-To-Order and Sale of Balance Flats exercise.
Singapore's Minister for National Development Lawrence Wong on Tuesday sought to temper expectations for the Build-To-Order (BTO) flats in mature estates such as Ang Mo Kio and Bedok, launched in May's exercise.
South-east Asia's Internet economy, spanning online shopping to games and advertising, will surge sixfold to about US$200 billion in the next decade, according to joint research by Google Inc and Temasek Holdings.
Hotel Grand Central on Tuesday said it has inked a deal to sell Hotel Grand Chancellor Surfers Paradise hotel in Australia for A$80 million (S$79.7 million).
The STI Today
The Straits Times Index on Tuesday drifted 16.7 points down to 2,750.23 as the entire market recorded volume of just 966.2 million units worth S$726.7 million, one of the weakest one-day totals this year. The loss here came despite a late afternoon rebound in Hong Kong that pushed the Hang Seng Index into the black and a 40-point rise in the Dow futures.