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Daily Debrief: What Happened Today
In delivering his keynote speech at The Business Times Leaders' Forum 2016 on Tuesday morning to 300 business leaders, Minister for Industry S Iswaran spoke of the need for private- and public-sector stakeholders here to work together as Singapore looks to transition its economy.
- Disruption will come from anywhere: panellists
- Singapore must attract the best talent to succeed in the long term: panellists
- Singapore as innovative economy should fight for talent and not compete on costs: panellists
Singapore shipyards secured S$4.9 billion in new orders during 2015, demonstrating the willingness of some offshore and marine (O&M) players to invest and build up capabilities and capacities for the longer term despite the global economic downturn and uncertain market environment.
Despite the shaky economy, the National Wages Council (NWC) has recommended that employers in Singapore continue to give low-wage workers earning up to S$1,100 monthly a built-in wage increase in 2016. But instead of a raise of at least S$60, as was recommended last year, this year the NWC proposed a S$50-S$65 range hike.
Of the 112 CEOs polled over April 26 to May 14, more than three-quarters said that they are confident about Singapore's continued relevance, with 25 per cent saying they are "absolutely confident", and 53 per cent stating they are "pretty confident".
Bookstore chain Popular Holdings said that its non-executive chairman Ramayah Vangatharaman, 66, passed away on Sunday.
ARA-CWT Trust Management (Cache) Ltd, the manager of warehouse owner Cache Logistics Trust, has been dragged into a dispute over rental at one of its major properties owned as tenant C&P Land is squabbling with sub-tenant Schenker, a German logistics giant, over rent issues.
- Mapletree group's FY16 profit slips 3.8% to S$965.2m
- Ossia Int'l sinks deeper into the red for FY2016
The STI Today
Monday's column raised the strong likelihood that blue chips would enjoy a month-ending window-dressing push on May 31. As it turned out, this was initially the case when the Straits Times Index (STI) on Tuesday first jumped 38 points to an intraday high of 2,834, before plunging to a net loss of 5.69 points at 2,791.06 in the final two hours of trading.