Daily Debrief: What Happened Today
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MAS, CAD investigating Koyo International's managing director
Catalist-listed Koyo International's managing director Foo Chek Heng is being investigated by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD), the company said in a Singapore Exchange (SGX) announcement late on Wednesday night.
Singapore condo resale prices rise 0.6% in January: SRX Property
Resale prices of non-landed private homes in Singapore rose 0.6 per cent in January 2016 over the previous month, according to the latest flash estimates from SRX Property. This contrasts with a 0.5 per cent month-on-month drop in December 2015.
FCL's Australian arm buys S$270m south-east Queensland site
Real estate developer Frasers Centrepoint Ltd's (FCL) Australian unit has bought a 135ha site in south-east Queensland that has an "end value of S$270 million", the group said in a Singapore Exchange filing on Thursday morning.
ST Aerospace unveils new VIP aircraft interiors centre
ST Aerospace has launched a new VIP aircraft interiors centre at Seletar Aerospace Park to serve customers from across the Asia-Pacific and Middle East.
SE Asia economies set for squeeze as big firms line up spending cuts
As profits sag and debt mounts, more Southeast Asian firms are set to join the likes of Malaysian oil giant Petronas in cutting capital expenditure, casting a cloud over economic growth in a region better known as a development hotspot.
Bass says China bank losses may top 400% of subprime crisis
Kyle Bass, the hedge fund manager who successfully bet against mortgages during the subprime crisis, said China's banking system may see losses of more than four times those suffered by US banks during the last crisis.
Corporate Earnings
The STI Today
Singapore shares close weaker as Hong Kong, Dow futures dive in line with weak oil
Singtel's S$0.12 slide to S$3.54 ahead of its Q3 results on Friday accounted for an 11 point of the total loss of 43.82 points or 1.7 per cent suffered by the Straits Times Index on Thursday in a session that was weak and devoid of many redeeming features. The fall came in line with a 3.9 per cent drop in Hong Kong, a 270 point loss for the Dow futures that indicated Wall Street would be in for a torrid Thursday and a fall in the oil price to below US$27 per barrel.
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International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India's Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise