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Daily Debrief: What Happened Today
The Seller's Stamp Duty (SSD) for residential properties in Singapore will be relaxed, the government announced on Friday.
There will be a new stamp duty levied on the purchase and sale of residential property in property holding entities (PHE) with effect from March 11.
Singapore developer stocks soared as authorities eased some property-market curbs, with analysts saying the changes will buoy shares that have been weighed down by a three-year losing streak for house prices.
The Total Debt Servicing Ratio (TDSR) will no longer be applied starting March 11 for mortgage equity withdrawal loans that have a loan-to-value (LTV) ratio of 50 per cent and below.
Singapore's retail sales in January rose from a year earlier thanks to an increase of supermarket as well as food and beverage sales, data showed on Friday.
DBS has priced a S$400 million four-year senior secured bond for the South Beach Consortium, a joint venture between City Developments and Malaysia's IOI Group, at 2.83 per cent.
A former trader at DBS Group Holdings Ltd's brokerage unit on Friday admitted to spoofing Singapore's securities market in the first case brought jointly by the country's regulator and white-collar crime police.
The STI Today
The Straits Times Index over the course of this week first rose to a new 12-month high when it closed at 3,145.29 on Wednesday but then came under pressure on Thursday when oil prices plunged 5 per cent.