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Daily Debrief: What Happened Today
The Monetary Authority of Singapore (MAS) on Monday announced it has imposed penalties of S$5.2 million on Standard Chartered Bank, Singapore Branch (SCBS) and S$1.2 million on Standard Chartered Trust (Singapore) Limited (SCTS) for breaches of its anti-money laundering and countering of financing terrorism (AML/CFT) requirements.
GuocoLand and the Hong Leong Investment Holdings group have won a bid to buy the Pacific Mansion condominium development in River Valley for S$980 million, setting a new high among recent en bloc deal amounts.
More than 90,000 employers, comprising mostly small and medium enterprises (SMEs), will receive over S$800 million in payouts this month under the Wage Credit Scheme. SMEs will receive 71 per cent of the sum disbursed, which is meant to help businesses cope with rising wage costs.
The Singapore Exchange (SGX) suspended trading in YuuZoo Corporation shares on Monday, after certain items in the online media company's financial statements could not be verified by auditors.
Noble Group is racing against time to garner enough votes for a debt restructuring plan after its decision not to pay a US$379 million bond due Tuesday sets it on course for its first note default.
Alibaba Group will invest a further US$2 billion into Singapore-based e-commerce company Lazada, and Lucy Peng - one of Alibaba's 18 co-founders and current chairman of Lazada - will take over as chief executive officer (CEO) of Lazada.
Embattled disk-drive maker Datapulse's new chief executive will join the company later than expected. The company said Wilson Teng Wai Leung will be appointed executive director and chief executive officer with effect from March 19, instead of March 8 as announced previously.
OCBC Bank has built a S$240 million regional data centre designed and customised to its requirements, with the new facility believed to be the first such purpose-built centre developed and owned by a Singapore bank.
The STI Today
Share prices in the Singapore bourse closed lower on Monday, with the key Straits Times Index falling 13.85 points or 0.39 per cent to finish at 3,498.29.