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Daily Debrief: What Happened Today
Singapore Budget 2016
- Three main thrusts to deal with challenges in Singapore economy
- S$4.5 billion set aside for Industry Transformation Programme
- Corporate income tax rebate to rise to 50% of tax payable
- Foreign worker levy to go up for services, construction sectors; deferred for marine sector
- SMEs can loan up to S$300k under new working capital loan scheme
For more of our Budget coverage, go to bt.sg/budget_16
Singapore-domiciled firms raised US$173.6 million in the equity capital markets (ECM) so far this year, up 44.1 per cent from last year's sluggish start which saw US$120.5 million raised, according to Thomson Reuters data.
Consistel subsidiary OMGtel formally announced on Thursday that it is in the race to become Singapore's fourth telco. The company has appointed the former president and CEO of Lenovo, Bill Amelio, as the new CEO.
Perennial Real Estate Holdings will acquire a 20 per cent interest in an established maternal and child health management company in China for 135.4 million yuan (S$28.7 million).
Aspial Corp's second retail bond offering of four-year 5.30 per cent bonds due 2020 to institutional and other investors has been oversubscribed within the first day of its launch.
Croesus Retail Asset Management, the trustee-manager of Croesus Retail Trust (CRT), has closed its order book for the private placement.
The STI Today
A slump in oil prices and overnight weakness on Wall Street made for a weak Thursday for the local stock market, with the Straits Times Index (STI) dropping 34.59 points or 1.2 per cent to 2,847.39.