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Daily Debrief: What Happened Today
Former Singapore banker Yeo Jiawei, accused of laundering money linked to Malaysia's 1MDB scandal, used a tax haven company as part of an US$8.2 million (S$11.6 million ) plus splurge on property in Australia's Gold Coast, The Guardian has reported.
Singapore retail sales were up 1.1 per cent in November 2016, compared to the same month a year ago, data released by the Department of Statistics on Friday showed.
OCBC said on Friday that loans growth at its Chongqing branch (operated by wholly owned subsidiary OCBC Wing Hang China) had tripled year-on-year in November 2016 as a result of increased business activity.
PappaRich Malaysia Sdn, a food chain selling local cuisine from nasi lemak to curry laksa noodles, is considering a Singapore initial public offering, people with knowledge of the matter said.
CNMC Goldmine Holdings expects to report a net loss for the fourth quarter of 2016, due to unrealised foreign exchange losses and a fall in revenue as a result of lower ore grades.
The STI Today
It was a Trump reflationary play that helped the Straits Times Index on Tuesday regain the 3,000 mark lost since early November 2015, and it was Trump-related disappointment that dragged the STI below that level two days later on Thursday.