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Daily Debrief: What Happened Today
The Singapore Exchange (SGX) will publish half-yearly updates on long-suspended counters and unveil improvements to the admissions process as part of its efforts to enhance its oversight of companies, the market operator announced on Thursday.
Singapore Telecommunications (Singtel) is considering listing its broadband unit on the local bourse in a deal that could raise about US$2 billion, sources close to the matter said on Thursday.
Manulife US real estate investment trust (Manulife US Reit) has priced its Singapore initial public offer (IPO) at US$0.83 each - the top of the indicative price range which translates to a projected distribution per unit yield of 7.1 per cent for FY2017.
United Overseas Bank (UOB) has launched and priced S$750 million in non-cumulative, non-convertible perpetual capital securities, which will bear a fixed distribution rate of 4 per cent per annum.
A blueprint to strengthen the precision manufacturing sector here was unveiled on Thursday morning, as the sector faces dwindling output while the larger manufacturing industry restructures.
Five oil product traders have resigned from Noble Group, Asia's biggest commodity trader by revenue, some of whom are moving to rival trader Glencore, sources with knowledge of the issue said.
- Singtel's Q4 earnings hold but revenue dips, hit by forex impact
- Vard Holding returns to black despite revenue decline, wins US$300m deal
- Ezion posts Q1 profit drop; Pacific Radiance posts Q1 loss
- Cancellation of vessel in advanced building stage turns Nam Cheong into the red in Q1
- ComfortDelGro's Q1 profit up 8.6% to S$73.4m
- Noble's Q1 net profit falls 62% on constrained capital
- UOL's Q1 net profit rises 4% to S$77m
The STI Today
There are hopes that Thursday's session marked the end of the selling for the time being. Alternatively, there are hopes that short sellers, having already bet correctly over the past fortnight, have now great incentive to cover their positions rather than hold on for more gains.