Daily Debrief: What Happened Today
Stories you might have missed
The wealthy continue to pick up choice assets amid April home sales plunge in S'pore
THERE were five homes sold last month costing more than S$5 million each, the highest was a S$13.8 million unit at 15 Holland Hill.
Analysts remain bearish on SIA after worse-than-expected Q4 losses
IN a note on Friday, Citi analyst Kaseedit Choonnawat reiterated his "sell" rating on SIA, anchored by the "view that SIA will soon be over-capitalised (due to a much larger equity base after its ongoing rights issue), where returns would be depressed even under normalcy."
Banyan Tree seeks to raise S$50.4m in convertible bond issue
THE bulk of the S$49.4 million in net proceeds from the rights issue - or 69.6 per cent - will be used to repay existing bank borrowings and interest costs, while the remaining 30.4 per cent will be used for general working capital and operations.
Hatten Land unit to defend against contractor's RM100m claim
HATTEN Land said its wholly-owned subsidiary Gold Mart has received a claim of RM100 million (S$32.8 million) from a contractor related to the Malaysian property developer's Harbour City project.
Jobs as swabbers paying S$3,800 are only short term: MOH
THE Ministry of Health (MOH) has clarified that the swab operations jobs paying S$3,400 to S$3,800 a month are short-term contract roles with no progression pathway and do not include any additional allowances or bonuses.
Corporate earnings
The STI today
STI ekes out slight gain on positive China data
THE Straits Times Index (STI) eked out a slight gain of 1.24 point ot 0.05 per cent to finish Friday at 2,523.55, which still translates to a 2.6 per cent retreat overall this week.
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International
US inflation increases moderately in February; consumer spending surges
Fed’s balancing act could see June rate cut in play even with sticky inflation
China’s red carpet draws CEOs but few expect their money to follow
Australia wants businesses to diversify after China scraps wine tariffs
Japan FX chief calls yen’s slump unusual, vows to act if needed
Trump’s meme stock is skyrocketing but for how long?