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Daily Debrief: What Happened Today
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Budget 2020: Billions in short-term support, while keeping long-term focus for Singapore
EVEN as Budget 2020 sets aside SS$5.6 billion to help firms, workers and households amid the Covid-19 outbreak, it retains a focus on the future, from economic transformation to climate change, said Deputy Prime Minister and Finance Minister Heng Swee Keat on Tuesday.
- Government to pump S$6.4b into virus support measures
- S$2.4b to help firms defray wage costs
- No GST hike in 2021, but increase will take place by 2025
- S$6b package to cushion impact of upcoming GST increase
- Senior employment credit, CPF offset among new measures for those hiring older workers
- Enterprise Grow Package to help companies digitalise and enter new markets
- New SkillsFuture Mid-Career Support Package for workers in 40s and 50s
Cecil Street's IOB Building up for sale at S$217.7m guide price
THE redevelopment property at the junction of Cecil Street and Cross Street in the central business district (CBD) has a tenure of 99 years from May 1983 and a site area of 891.8 square metres or about 9,599 square feet (sq ft).
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S&P sees Singtel associate Advanced Info Service losing rating headroom with spectrum win
ADVANCED Info Service's (AIS) rating would face negative pressure if the Singtel Thai associate's operating metrics weaken, or if its discretionary spending rises above S&P's forecast over the next two years, the credit rating agency said on Tuesday.
Corporate earnings.
- EHT posts Q4 DPS of 1.179 US cents, 24.4% below IPO forecast
- Bumitama Agri's Q4 profit up 26% on higher palm oil prices
The STI today
Focus on Budget but S’pore shares extend fall as Covid-19 fears linger
With investors continuing to focus on developments surrounding the spread of Covid-19, the STI extended its slide for a fourth day, closing 16.37 points or 0.5 per cent lower at 3,196.63.
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