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Singapore Wrap Wednesday
Singapore companies are good at ticking the boxes on ethical business practices but the reality is something else.
Another former group financial controller of shipyard Singapore Technologies (ST) Marine has become the fifth former senior executive to be charged in connection with a corruption scandal.
Spring Singapore is looking to appoint up to five accelerators to incubate and jointly invest up to S$4 million each in startups in emerging sectors.
Petra Foods Limited has decided to cease its loss-making distribution business in Singapore. Its wholly-owned subsidiary Delfi Singapore will sell its agency brands portfolio and related inventory to Auric Pacific Marketing, a subsidiary of Singapore-listed Auric Pacific Group, by June 30.
Rentals for private condos and apartments in Singapore dipped 0.6 per cent in May, compared to April, led by rents in the city fringe and suburbs which fell 0.6 per cent and 1.5 per cent respectively.
The STI Today
After falling 55 points in four consecutive sessions between Thursday last week and Tuesday this week, the Straits Times Index (STI) on Wednesday bounced 30.64 points to 3,325.77 after news that MSCI will not be including China 'A' shares in its emerging markets index yet.