Singapore Wrap Friday

Singapore May factory output declines 2.3%, but still above forecast

Singapore's manufacturing sector contracted for the fourth straight month in May, with industrial output falling 2.3 per cent on a year-on-year basis, due to broad-based declines in all clusters save chemicals.

JCET announces 'firm intention' to make offer for STATS ChipPAC

A consortium led by China's Jiangsu Changjiang Electronics Technology Co (JCET) announced its "firm intention" to make an offer for Singapore's mainboard-listed STATS ChipPAC.

No increase in premiums for private insurance coverage portion of Integrated Shield Plans for 12 months

All five life insurers offering Integrated Shield Plans have committed to not increase the premiums for the additional private insurance coverage portion for 12 months.

ABS issues guidelines for third-party service providers for banks

The Association of Banks in Singapore (ABS) on Friday pushed out a set of industry guidelines for third-party service providers that work with the banking industry.

Frasers Hospitality Trust raises S$123m from placement of stapled securities

Frasers Hospitality Trust (FHT) has completed a private placement of 150 million new stapled securities to raise gross proceeds of S$123 million to part finance the acquisition of Sofitel Sydney Wentworth, said Reit manager Frasers Hospitality Asset Management on Friday.

The STI Today

Singapore shares close 0.9 per cent down on Friday

Singapore shares closed 0.9 per cent lower on Friday, with the Straits Times Index (STI) down 28.97 points to 3,320.9 ahead of Greece's last-ditch talks on Saturday to try and avert a default next week.