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Singapore's real-estate firms are facing record debt maturities, just as home sales post their longest-ever losing streak, straining the finances of builders less prepared to weather the storm.
The Urban Redevelopment Authority (URA) will launch for public tender a plum site along Central Boulevard in the Marina Bay area after an unnamed party made a successful application for the site's release. The white site is on the Reserve List of the Government Land Sales programme for H2 2016.
Tax-deductible donations in Singapore rose by more than 24 per cent to S$1.4 billion last year, according to the 2015 annual report by the office of the Commissioner of Charities (COC) released on Friday.
Hong Kong's High Court ruled against Oversea-Chinese Banking Corp's private bank in a mis-selling case, saying the unit and a relationship manager had breached their contractual duty towards an elderly couple who lost money on investments made with ING Asia Private Bank.
After posting a second-quarter net loss of US$54.9 million and an increase in net debt, the commodity trader said its priority is boosting cash flow ahead of earnings.
China Sky Chemical Fibre on Friday requested a suspension in the trading of its shares on Singapore Exchange (SGX) after China Construction Bank filed five lawsuits against two of its subsidiaries in Quanzhou, China.
The 21-year-old swimmer became the first Singaporean man to make an Olympic swimming final on Thursday night (Brazil time).
The STI Today
Corporate earnings were the main focus this week, during which the Straits Times Index (STI) rose 40 points or 1.4 per cent to 2,867.40, including Friday's 2.42 point drop.