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Daily Debrief: What Happened Today

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Thursday, July 20, 2017 - 18:30

Country-specific risk factors, rather than global macroeconomic news, will become more important to asset-allocation strategies for the rest of 2017.

Country-specific risk factors increasingly more important in H2 2017: Allianz

Country-specific risk factors, rather than global macroeconomic news, will become more important to asset-allocation strategies for the rest of 2017.

SingPost chairman absent from its 25th AGM

Chairman of SingPost, Simon Israel, was absent from the postal and e-commerce service provider's 25th Annual General Meeting (AGM) on Thursday.

Market voices on:

Nam Cheong defaults on S$90m 2017 notes, appoints PwC as restructuring adviser

Nam Cheong has decided to "temporarily cease" repayment on all its borrowings while it seeks to restructure. The debt-ridden shipping company will not be making payment of the next coupon payment due on July 23, 2017 with respect to the S$90 million Series 004 Notes.

UOB receives FOSB licence to set up subsidiary bank in Vietnam

United Overseas Bank Limited (UOB) on Wednesday received an in-principle foreign-owned subsidiary bank (FOSB) licence from the State Bank of Vietnam to set up a subsidiary bank in Vietnam, making it the first Singapore bank to have received this licence.

SPH Magazines' custom-published titles clinch international awards

Magazines published by SPH Magazines Pte Ltd's Custom Content Solutions unit were honoured with five awards for editorial and design excellence.

About 50% of companies here do not own business liability insurance: survey

Only 54 per cent of companies here have business liability insurance, a survey has found. QBE Insurance's latest report, The Risks of Regret, found that in regional economies such as Indonesia, Hong Kong and Malaysia, business liability insurance ownership is 54 per cent, 47 per cent and 45 per cent respectively.

Civil engineering and construction firm Zublin penalised for environmental offences

Civil engineering and construction firm Zublin was fined S$7,000 by PUB and the National Environment Agency for two environmental offences. A joint statement issued by the two agencies on Thursday said that Zublin was found responsible for illegal discharge into the Pang Sua Diversion Canal and fined S$2,000.

Singapore scores well in retirement finances, but mixed on health, quality of life, material well-being: Natixis

Singapore has emerged with some of the best scores compared with the rest of the Asia-Pacific where finances in retirement are concerned; but showed mixed results on health, quality of life and material well-being.

Corporate Earnings

The STI Today

STI breaks rally streak, loses 32 points

Singapore shares broke the rally streak on Thursday and wiped out earlier gains in the week, dragged down by banking stocks.

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