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Daily Debrief: What Happened Today
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EQUITY markets collapsed on Monday as the rapidly spreading coronavirus fans fears over the global economy, while a crash in oil prices added to the panic with energy firms taking a hammering.
SINGAPORE banks also may not defend their dividend levels, Citi added, as it slashed target prices again from its lowered estimates on March 4.
GROUP chief executive Chua Sock Koong said the group needed to strengthen its financial resilience and eliminate more costs to ensure its long-term competitiveness.
AS the Covid-19 virus outbreak upends travel plans to more countries around the world, Singapore Airlines (SIA) and Emirates have said they will waive some fees for changing flight tickets issued in March.
A S$5,000 hongbao (red packet) to a customer was one of the focal points in a recent Corrupt Practices Investigation Bureau (CPIB) probe involving the executive chairman of Accrelist and its subsidiary Jubilee Industries Holdings, Terence Tea, and two Jubilee senior management staff.
The STI today
THE blue-chip index lost 178.61 points or 6 per cent to 2,782.37, with all 30 of its components ending in the red in a session that one trader observed as "rife with indiscriminate selling".