Daily Debrief: What Happened Today

ARA founder John Lim leads consortium in S$1.8b buyout

ARA Asset Management Ltd group founder and chief executive officer John Lim is leading a consortium including Cheung Kong Property and Straits Trading Company in a takeover offer at S$1.78 per share, valuing the company at close to S$1.8 billion.

Tourist arrivals, spend pick up pace in first half of 2016

Tourism arrivals and spend both expanded in the double digits in the first half of this year, according to a report by the Singapore Tourism Board (STB).

2017 presidential election will be reserved for Malay candidates, says PM Lee

Having reserved elections is one of the proposed changes to the elected presidency being debated in Parliament this week. It is meant to ensure that minority presidents are elected from time to time.

Resale prices of condos down 0.7% in Oct: SRX

Resale prices of non-landed private residential units slipped a steeper 0.7 per cent in October after a 0.6 per cent decline in September, the flash estimate from SRX Property shows.

New insurance business in Singapore muted in Q3

Singapore's life insurance industry remained flat in the three months ended September, with total weighted new business sales - a growth measurement - down one per cent from a year ago to S$808.2 million.

StarHub, HP launch device subscription service for SMEs

StarHub has launched a new service, in partnership with Hewlett Packard Inc (HP), that provides small and medium-sized enterprises (SMEs) with devices, software and technical support that they require to manage their information technology (IT) needs at a flat monthly fee.

CapitaLand appoints investment banker as group CFO

CapitaLand has appointed investment banker Andrew Lim Cho Pin as group chief financial officer effective Jan 1, 2017. He will succeed Arthur Lang Tao Yih who was appointed to the post back in August 2011.

Corporate Earnings

The STI Today

Singapore shares close higher on hopes of a Clinton win

The US presidential election continued to be the main - and possibly only - factor in local stock market trading on Tuesday, with the Straits Times Index (STI) climbing 19.29 points or 0.7 per cent up to 2,820.24 on early indications that the more market-acceptable candidate Hillary Clinton was the early leader.