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Daily Debrief: What Happened Today
DBS chief Piyush Gupta said on Friday that specific provisions for its oil and gas portfolio could be higher than previous guidance.
In a statement, MAS said that it "will not hesitate to take the necessary enforcement actions" should it uncover any violations of regulations through its own investigations.
Bubble tea brand Gong Cha announced its return to Singapore, this time under the leadership of Kang Puay Peng, the ex co-founder and managing director of successful soya milk brand Mr Bean.
The Monetary Authority of Singapore (MAS) on Friday released a public consultation on its proposals to enhance the Deposit Insurance (DI) Scheme, with a key proposal to increase coverage to S$75,000 from the current S$50,000.
Oxley said the acquisition was undertaken as part of its investments in income generating assets, and is in line with the investment objective of the company.
- Far East Hospitality Trust's DPS down 4% for Q2
- DBS net profit up 8% for Q2
- SingPost's Q1 net profit slides 13.6%
- Millennium & Copthorne Q2 pre-tax profit up 22%; declares interim dividend of 2.08p
The STI Today
Here, banks have once again been the main drivers of the Straits Times Index, in particular DBS and OCBC. On Friday, weakness in all three meant the index nursed a 16.4 point loss at 3,326.52, a fall that meant the STI dropped about four points for the week.