Daily Debrief: What Happened Today
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About half of OCBC's O&G portfolio in offshore support services
About half of OCBC Bank's oil and gas (O&G) portfolio is made up of businesses in the offshore support services, chief executive officer Samuel Tsien said on Wednesday. This portion, which stood at 47 per cent of its S$12.4 billion O&G portfolio, is "under more stress", and the bank has worked with its customers to ensure that vessels continue to be utilised, and generate cash flow, he said at a results briefing.
Singapore's non-oil domestic exports plunge 9.9% in January
Singapore's non-oil domestic exports started the year with a 9.9 per cent plunge, extending the 7.2 per cent dive in December 2015.
As expected, the premium for a big-car Certificate of Entitlement (COE) shot back up on Wednesday, the second bidding exercise in February, after its surprise fall two weeks ago.
SGX queries SembMarine as stock extends rally
Singapore Exchange (SGX) queried Sembcorp Marine (SembMarine) on its "unusual" trading activity on Wednesday.
Asia Square didn't fit with strategy or meet required returns, CapitaLand implies
CapitaLand on Wednesday implied that it had earlier bowed out of negotiations to buy Asia Square Tower 1 office building because the property did not fit with its group strategy, and its yields did not meet requirements.
Changi rebate to cargo partners to tide over challenging conditions
Changi Airport Group (CAG) is introducing a one-time rebate and extending others to help cargo partners tide over challenging conditions in the industry.
Corporate Earnings
The STI Today
Singapore shares close lower on weakness in oil, HK and Dow futures
A slip in the price of oil, softness in the Dow futures and a one per cent drop in the Hang Seng Index led to a 30.79 points or 1.2 per cent loss for the Straits Times Index to 2,613.79 on Wednesday as it gave back some of the 100 points it had gained on Monday and Tuesday.
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International
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
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
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