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Daily Debrief: What Happened Today
Share of commodities firm Noble Group rose on Friday amid heavy trading, despite it being stripped from the list of constituents that make up the Straits Times Index (STI).
Singapore Airlines' (SIA) general offer for the shares in Tiger Airways that it did not already own closes on Friday, and Singapore's national carrier will take full control of the budget airline, SIA said in a media release.
Deal value for announced global private equity (PE) buyouts totalled US$282 billion in 2015, just about 5 per cent more than in 2014, a Bain & Company report said on Friday.
The SPDR Straits Times Index (STI) ETF (Exchange-Traded Fund) was the most active ETF in the month-to-date, and the second-most active year-to-date.
Singapore law firm WongPartnership's former joint managing partner, Rachel Eng, has become the deputy chairman at the practice, alongside current deputy chairman Tan Chee Meng.
US fund manager Franklin Resources has become a substantial shareholder of Sembcorp Marine (SembMarine) after its two funds - Templeton International and Templeton Worldwide - bought S$1.82 million in additional shares in the yard group on March 2.
Samsonite International SA, the world's largest branded-luggage maker, agreed to buy luxury baggage maker Tumi Holdings Inc for about US$1.8 billion in its biggest acquisition since selling shares to the public five years ago.
The STI Today
One of the most strident complaints made against the local stock market is that it is a perennial underperformer, lacking in liquidity and excitement when compared to Hong Kong. This may have been true for most of 2014 and 2015 and even the first two months of 2016 but it wasn't the case this week though. The Straits Times Index's 188 points or 7 per cent jump to 2,837 placed it among the better performers in the region.