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Daily Debrief: What Happened Today
Singapore-domiciled companies tapping the equity capital markets have raised US$2.4 billion so far this year, a 79.3 per cent jump from the US$1.3 billion raised in the first half of 2015, data from Thomson Reuters showed on Tuesday.
An Asian private equity unit backed by LVMH Moet Hennessy Louis Vuitton SE is being sued by a former executive, who is claiming he was fired for revealing wrongdoing at the business.
M+S Pte Ltd, a joint venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdings, said on Tuesday it has "topped out" (meaning put the top of the building on) Marina One in Singapore's Marina Bay area.
Frasers Logistics and Industrial Trust rose 1.7 per cent on Tuesday on its debut. The real estate investment trust (Reit) opened at S$0.905, higher than its initial public offering (IPO) price of S$0.89. During the day, the Reit hit a high of S$0.93 before closing at S$0.91.
Britain's exit from the European Union (EU) may lower the country's gross domestic product (GDP) by 2 to 7 per cent by 2030, a recent AXA Investment Managers' report said, as a poll on Monday showed that votes in the stay-or-go clash are evenly split.
The STI Today
Not surprisingly, trading on Tuesday was quiet, largely featureless and mainly weak ahead of the UK's referendum on Thursday on whether to remain or exit the eurozone.