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Daily Debrief: What Happened Today
Large companies need to create an upstart culture and handle disruption from new players, for which incumbents are typically unprepared, said Tharman Shanmugaratnam, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, on Thursday.
In a move that shocked the market, Singapore Post chief executive Wolfgang Baier said on Thursday evening that he was quitting the mainboard-listed company.
Ascendas Real Estate Investment Trust (A-Reit) has priced its S$408 million equity fund-raising exercise at the cheap end of the price talk, the industrial and commercial property trust announced on Thursday.
The independent financial adviser (IFA) to the board of Tiger Airways Holdings has recommended that shareholders accept Singapore Airlines' (SIA) offer, calling it "fair and reasonable".
The mall is expected to close in the third quarter of 2016, with redevelopment works starting soon after and taking about three years.
The tender, covering 76 megawatts-peak (MWp) of solar power, is the largest tender to date in Singapore's both public and private sectors.
The STI Today
The Straits Times Index on Thursday drifted to a 12.73 points loss at 2,848.46, amidst low volume of 990.4 million units worth S$879 million. Of the dollar value, S$622 million or 71 per cent was done in the 30 STI components and excluding warrants, there were 114 rises versus 262 falls. It was the index's third consecutive fall, bringing the three-day loss to about 52 points or 1.8 per cent.