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Daily Debrief: What Happened Today

Minority shareholders who own a combined 15 per cent stake in Darco had earlier appealed for deputy chairman Robert Wang Zhi to recuse himself from further discussions and decisions on a controversial Indonesia waste management project.

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Transport Minister Khaw Boon Wan retires from politics

TRANSPORT Minister and Coordinating Minister for Infrastructure Khaw Boon Wan is retiring from politics and will not contest the upcoming General Election. In a valedictory letter to Mr Khaw on Friday, Prime Minister Lee Hsien Loong thanked him for his "lifetime of public service to Singapore".

No need for deputy chairman to recuse himself, Darco board argues

THE board of Darco Water Technologies is of the view that there is no reason to consider deputy chairman Robert Wang Zhi as having a potential conflict of interest in a controversial Indonesia waste management project that he has been pushing for the water treatment firm to invest in.

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'Circuit breaker' a culprit as Singapore factory output posts 7.4% drop in May

SINGAPORE'S factory output snapped a two-month winning streak in May to slide unexpectedly into negative territory, with the novel coronavirus pandemic largely fingered as the culprit.

ESG sets aside over S$55m for local agriculture, aquaculture firms

ENTERPRISE Singapore (ESG) has set aside over S$55 million to accelerate the growth of promising local agriculture and aquaculture companies by "developing their innovation capabilities to grow more with less".

Lazada names Li Chun as new CEO; third change since 2018

ALIBABA-OWNED e-commerce platform Lazada has appointed Li Chun as its new group chief executive (CEO), marking the third time the South-east Asian firm has changed its chief executive since 2018.

Naiise's chief marketing, buying officer steps down

AMANDA Eng is no longer the chief marketing and buying officer of multi-label lifestyle and design retailer Naiise, The Business Times has learnt.

The STI today

STI finishes the week down 1.15%

THE Straits Times Index (STI) rose 14.36 points or 0.55 per cent to finish at 2,604.51 on Friday, ending the week 1.15 per cent lower than a week ago, as the benchmark index see-sawed through a series of election news and continued fears of a second wave of the Covid-19 virus.

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