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Singapore General Election
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The government has trimmed development charge rates - payable for enhancing the use of some sites or to build bigger projects on them - for industrial use by an average of 3 per cent.
Bank lending in July rose from June, but by a smaller extent compared to a month ago, preliminary data from the Monetary Authority of Singapore (MAS) showed on Monday. This reflected weaker growth in business lending, given the big boost in construction loans in June.
BOC Aviation's first-half profit after tax rose 5 per cent to US$171.5 million while gross debt to equity improved slightly to 3.9 times from 4.0 times, the aircraft leasing company announced.
The STI Today
Renewed volatility in China and Hong Kong on Monday and worries of a US rate hike possibly as early as next week ensured that the local stock market kicked off the week on a down note. The Straits Times Index dropped 34.5 points or 1.2 per cent to 2,921.44.