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Daily Debrief: What Happened Today

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Singapore Telecommunications Ltd is downplaying the necessity for more competition in the city-state just as the regulator is gearing up to award a license to a fourth carrier.

Corporate Earnings

Singtel's CEO downplays need for 4th player as competition looms

"We don't believe there's a need for a fourth operator," Chua Sock Koong, chief executive officer of Singapore's biggest phone company, said in a Bloomberg Television interview on Thursday.

Portfolio pumping in Singapore not as widespread as feared: CFA Institute

Portfolio pumping, or the artificial inflation of the closing prices of selected stocks usually at quarter-ends and year-ends, is not as widespread in Singapore as currently perceived, according to a report by CFA Institute.

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Rental weakness persists for condos, HDB flats in October: SRX Property

The residential leasing market remained on a soft patch in October, with rents and transaction volumes for both private homes and HDB flats still on the slide.

APP completes over 400 dams to check forest fires in Indonesia

Asia Pulp & Paper (APP) said on Thursday that it has completed over 400 dams to block plantation perimeter canals in APP suppliers' concessions on peatland in Riau and South Sumatra, as part of efforts to provide a long term solution to check forest fires.

Zeti says ringgit significantly undervalued amid growth

The Malaysian ringgit remains "significantly undervalued" and risks to economic expansion are unlikely to materialize with exports still strong, central bank Governor Zeti Akhtar Aziz said.

The STI Today

STI falls for 5th consecutive session

A weak session on Thursday ended with the Straits Times Index falling 22.58 points or 0.76 per cent to 2,959.01 in low volume of 1.1 billion units worth S$944.7 million. The fall was mainly through selling of the banks and came despite a large bounce in Hong Kong and a slight gain for the Dow futures which suggested a firm Thursday for Wall Street.

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