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Daily Debrief: What Happened Today
Singapore Exchange (SGX) said on Thursday the securities market will not re-open for the rest of the day after it was hit by technical glitches and twice failed to meet self-imposed targets, leaving the market in the dark.
This is in line with analysts' expectations and is marginally higher than the 2.1 per cent growth in the previous quarter.
United Overseas Bank (UOB) said on Thursday it has closed investigations over an online report detailing the contents of a whole trash bag of mainly unshredded bank documents with client details, but gave no further information. These documents were found "under a tree along the street" at Boat Quay, said Middle Ground, an online news website.
Singapore's small and medium-sized enterprises (SMEs) have become more "credit" smart with a growing number tightening their terms and conducting more due diligence before extending credit to their clients.
UBS Group flagged suspicious transactions linked to 1Malaysia Development Bhd to the Monetary Authority of Singapore, prompting an investigation of the accounts involved, a person familiar with the matter said.
Jurong Aromatics Corp (JAC) has restarted its refining-petrochemical complex in Singapore after a 1-1/2 year shutdown, a source with direct knowledge of the matter said on Thursday.
The STI Today
A lengthy trading suspension from 11.38am until the end of the day, caused by a computer glitch, provided the main talking point in Thursday's session. As a result, turnover amounted to just 539 million units worth S$335.2 million, about one-third recent averages. At the time of the breakdown, the Straits Times Index had dropped 3.73 points to 2,906.92.