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Daily Debrief: What Happened Today
Moody's Investors Service has revised the outlook on Singapore's banking system to negative from stable due to worsening operating conditions and rising risks to asset quality and profitability.
The offering consists of two tranches, a S$50 million tranche due 2021 and a S$50 million tranche due 2023.
For the first time in 14 years, Singapore's Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) will raise public carpark charges for the short-term and season parking schemes from Dec 1, 2016.
A nation-wide electric vehicle (EV) car-sharing programme will be launched in mid-2017, starting with 125 cars and 200 charging points initially.
The Monetary Authority of Singapore (MAS) is looking to come up with a new policy for cloud computing, following feedback from the banking industry that there needs to be more clarity around the use of cloud services, said Sopnendu Mohanty, chief fintech officer at MAS, on Thursday.
Singapore's total bank lending in May rose from April on stronger demand for manufacturing loans, central bank data showed on Thursday.
Mainboard-listed Global Logistic Properties (GLP) plans to sell its 50 per cent share of GLP-MFLP Ichikawa Shiohama to GLP J-Reit for 15.5 billion yen (S$208 million).
The STI Today
The STI jumped to 88 points to open at 2,880 but again the momentum failed to hold, the index eventually closing at 2,840.93 with 1.5 billion units worth S$1.8 billion traded - almost twice the turnover of the day before.