Daily Debrief: What Happened Today

Covid-19's impact on Singapore economy already exceeds Sars, recession possible: PM Lee

THE impact, particularly over the next few quarters, will be significant as the country battles a "very intense outbreak", said PM Lee during a visit to Changi Airport Terminal 3.

Proposed S$1.58b merger between Frasers' Reits on 'normal commercial terms': IFA

THIS comes as each manager's independent financial adviser (IFA) has advised the independent directors to give the recommendation, in separate documents issued to unitholders on Friday morning.

Brokers' take: Analysts cut target prices for DBS on expectations of weaker FY20

ANALYSTS this week lowered their price targets on DBS Group, which may signal similar cuts in target prices for Singapore's other two banks after they report financial results next week.

Keppel associate drops bid to form offshore housing giant

KEPPEL Corp's associate company Floatel International and Oslo-listed Prosafe were of the view that any near-term completion of a value-enhancing merger was unlikely.

Great Eastern pledges S$1m to customers affected by Covid-19

FROM Feb 14 till end 2020, GE customers and/or their immediate family members who are hospitalised due to the novel coronavirus will receive a cash benefit of S$200 per day of hospitalisation, up to a maximum of 60 days.

Corporate earnings.

• Far East H-Trust posts 5% drop in Q4 DPS to 0.95 S cent
• Capital World sinks into the red in Q2, proposes scheme of arrangement
• Accordia Golf Trust posts Q3 DPU of 2.22 S cents

The STI today

STI ends flat on Friday, up 1.2% on the week

On Friday, Singapore's Straits Times Index (STI) barely moved from Thursday's close to end at 3,220.03, just 0.06 point lower. On the week, the blue-chip index advanced 38.55 points or 1.2 per cent from Feb 7's close of 3,181.48.