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Daily Debrief: What Happened Today
The local bond market is sizzling as interest rates slide. The latest to join the rush are two bank issues on Wednesday which, by early afternoon, clinched orders of some S$2 billion.
Grab and AXA Insurance Singapore on Wednesday launched AXA Pay-As-You-Grab, a usage-based commercial motor insurance for private-hire car drivers that lets them pay insurance premiums calculated on a per-kilometre basis.
Data released by SRX Property on Wednesday showed that when broken down by sectors, rents in the city area remained the same; those in the city fringe rose 0.1 per cent; while those in the suburbs experienced a decrease in rents of 0.1 per cent.
Manulife Financial Corp, Canada's largest life insurer, is poised to raise US$470 million in its second attempt at a Singapore initial public offering of its US properties, according to people with knowledge of the matter.
Lloyd's Register Global Technology Centre in Singapore and Keppel Offshore & Marine Technology Centre (KOMtech) have teamed up to develop advanced numerical simulation capabilities that will go towards enhancing the safety features of semi-submersible (semisub) designs.
Stats ChipPac Pte Ltd, South-east Asia's biggest semiconductor assembler, said the slide in its bond prices after this month's rating downgrade reflects "market neglect" as the company enjoys the backing of powerful shareholders from China.
Aircraft leasing company BOC Aviation Pte Ltd plans to launch its Hong Kong initial public offering on Monday, aiming to raise about US$1.1 billion with a rare fixed-price listing, IFR said, citing people close to the deal.
Singapore and Liaoning have inked 16 projects spanning high-technology manufacturing and modern services at the ninth Singapore-Liaoning Economic and Trade Council (SLETC) meeting which was co-chaired by Minister for Social and Family Development Tan Chuan-Jin and Liaoning Governor Chen Qiufa. Of this, almost half were small and medium-sized enterprise (SME) projects.
- SBS Transit's Q1 profit surges 70% on lower fuel costs
- Haw Par's Q1 profit grows 26.8% to S$17 million
- Weak smartphone market, lack of property contribution drag down UE Q1 net profit
The STI Today
Wall Street's Tuesday rally failed to break the Straits Times Index's (STI) losing streak, with the local benchmark losing 8.28 points at 2,732.87 on Wednesday in response to falls in Hong Kong and the Dow futures.