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Singapore Wrap Thursday
Today's notable stories
- Parliament: Singapore to amend Town Councils Act
The government will amend the Town Councils Act to address the weaknesses in the current regulatory framework, said National Development Minister Khaw Boon Wan in Parliament on Thursday.
- Singapore Q4 GDP growth seen likely to be revised higher
Singapore's economy likely expanded more than initially estimated in the fourth quarter, a Reuters poll showed, after the city-state's manufacturing output in December held up better than expected.
- Singtel posts 11% rise in quarterly net profit
Singapore Telecommunications Ltd, Southeast Asia's largest telecommunications operator, reported an 11 per cent rise in third-quarter net profit, on strong performance at home and higher contributions from its regional associates.
- SIA to cut fuel surcharges for tickets issued Feb 26 onwards
Singapore Airlines (SIA) will reduce its fuel surcharges for tickets issued on or after Feb 26, it said on Thursday. "Fuel prices have declined in recent months, although jet fuel continues to account for a significant percentage of SIA group expenditure," the airline highlighted.
- Ex-CEO of China Sky to pay civil penalty of S$2.5m, give up 10% of shareholding
Former chief executive of China Sky Chemical Fibre, Huang Zhong Xuan, will pay a civil penalty of S$2.5 million and surrender 10 per cent of his shareholding in China Sky under a settlement agreement with the Monetary Authority of Singapore (MAS).