Daily Debrief: What Happened Today

6 City Harvest Church leaders guilty of misusing church funds

The six leaders of one of Singapore's megachurches, City Harvest Church, have been found guilty of misusing millions of church funds to boost the secular music career of singer Sun Ho.

Car COE premiums climb

Certificate of entitlement (COE) premiums for passenger cars rose slightly in the final bidding exercise of the current quota, as buyers concerned about the next quota's small decrease turned up at showrooms last weekend.

NetLink Trust fined S$450,000 for not meeting service standards

The Infocomm Development Authority of Singapore has imposed a S$450,000 fine on NetLink Trust, the network company for Singapore's nationwide broadband network as it has failed to meet the quality of service standards that it had agreed to.

Most boards rely on personal contacts to find new directors: SID

Intense competition and manpower constraints were the most cited challenges to business growth according to Singapore directors, the Singapore Institute of Directors (SID) said on Wednesday.

First Reit agrees to Surabaya asset swap with sponsor

Hospital owner First Reit has inked a deal to sell an empty plot of land in Surabaya for S$8.2 million and later on an existing hospital building next to the plot for at least S$27.5 million to its sponsor Lippo Karawaci.

After year of pain, Opec close to halting US oil in tracks

After a year suffering the economic consequences of the oil price slump, OPEC is finally on the cusp of choking off growth in US crude output. The nation's production is almost back down to the level pumped in November, when the Organization of Petroleum Exporting Countries switched its strategy to focus on battering competitors and reclaiming market share.

Corporate Earnings

The STI Today

Singapore shares close mixed; penny stocks in focus

The Straits Times Index may have risen 6.67 points to 3,025.7 but Wednesday's trading was more about the rotational punting of penny stocks than the index. This was borne out by the volume statistics - 2.5 billion units worth S$696 million changed hands, which was an average of only S$0.28 per unit traded.