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Daily Debrief: What Happened Today
Surbana Jurong Private Limited on Wednesday announced two stake acquisitions in a bid to entrench its presence in Africa and ramp up its building design capabilities respectively.
Ride-hailing app GrabTaxi, which competes with Uber Technologies Inc in South-east Asia, is planning to launch a carpooling service in Singapore, one of the most expensive cities in the world to own a car. "GrabHitch hits the sweet spot for people who want a door-to-door transport service, but prefer not to pay a premium above public train or bus fares," Tan Hooi Ling, co-founder of GrabTaxi, said in a statement on Wednesday.
Non-landed private residential resale prices fell 0.6 per cent in October 2015 compared with September, while transactions rose. Resale volume was up 9.8 per cent.
A freehold mixed-use redevelopment site at the junction of Upper East Coast Road and Hacienda Grove has been put up for sale by tender. The seller is expecting offers of above S$34.2 million.
- New mall boosts Croesus's Q1 revenue, earnings; distributions flat
- Vard's losses deepen in Q3 on slowing activity in Europe, delays in Brazil
- Otto Marine in the red for Q3, expects no improvement in market conditions
- Vicom posts 3.1% increase in Q3 profit
- Boustead Projects' Q2 profit falls 33% to S$5.5m on lower margins
The company, which six years ago turned Nov 11 into China's equivalent of US shopping event Cyber Monday, could see this year's sales rise to as much as US$13.8 billion, a growth of almost 50 per cent from last year's total, according to research firm IDC.
The STI Today
Local stocks ended 0.54 per cent lower on Wednesday, with the benchmark Straits Times Index retreating 16.13 points to 2,981.59 after weak economic data from China.