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Daily Debrief: What Happened Today

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DBS chief Piyush Gupta said on Friday that specific provisions for its oil and gas portfolio could be higher than previous guidance.

DBS sees more provisions ahead in oil and gas portfolio

DBS chief Piyush Gupta said on Friday that specific provisions for its oil and gas portfolio could be higher than previous guidance.


MAS responds to Iceberg on Noble Group

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.

sentifi.com

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Gong Cha to return to Singapore

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.

 


MAS proposes enhancement of deposit insurance coverage to S$75,000

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 buys 7.11% of UEL for S$120.3m, but will not be making competing offer for UEL

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.


Corporate Earnings


The STI Today

Singapore shares finish week lower weighed by bank losses

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.

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