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Singapore Wrap Monday
Here are the main Singapore news items today, May 4:
The Consumers Association of Singapore (CASE) has issued a warning on investing in foreign properties. This comes after it received 13 complaints in 2013 and 2014 from consumers who had purchased property overseas.
The Advertising Standards Authority of Singapore (ASAS) said on Monday that new guidelines on advertisements of investments in financial instruments and properties will be implemented by the end of the year.
ExxonMobil has started maintenance at its Singapore Chemical Plant due to last "a few weeks", a spokeswoman said on Monday, without giving details of the units involved at the company's largest integrated petrochemical complex.
Prudential has named Mike Wells to succeed Tidjane Thiam as group chief executive from June 1, 2015.
- Sing Holdings warns of Q1 loss on higher expenses, lack of recognised revenue
- Ellipsiz more than doubles net profit in third quarter ending March 31
- Riverstone Q1 profit up 69% on stronger demand for gloves
- Nera Q1 profit falls 33.8% on lower telecom sales
Singapore market report: Singapore stocks weaken in low volume
The Straits Times Index was pushed up by about 11 points in the final seconds of trading last Thursday, April 30, so it came as no surprise that on Monday, the first trading day of May, the index spent most of the day in the red and eventually ended a nett 4.69 points weaker at 3,482.7.