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Daily Debrief: What Happened Today
The Real Estate Developers' Association of Singapore (Redas) is urging the government to review property tax, improve transparency in the property valuation process, and reduce business costs and regulatory fees.
DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least two years, hurt by bad loans provisions for a battered oil services sector.
Singapore's sovereign wealth fund GIC and UK-based manager and developer of student accommodation Unite Students have jointly acquired Aston Student Village (ASV) for £227 million (S$403 million) in a 50:50 joint venture.
Shares of United Engineers shot up by as much as 4.2 per cent to S$2.96 during mid-morning trading on Friday, prompting a query from Singapore Exchange on unusual price movements in its shares.
DBS Group is selling PwC Building at 8 Cross Street to an indirect subsidiary of Manulife Financial Corporation
The STI Today
Even though the Straits Times Index (STI) gained 59 points or 1.9 per cent over the course of this week to a 17-month high of 3,100.39, the real story has been the resurgence of penny punting and the stunning rise of Catalist, whose index gained 4.5 per cent this week and has risen 16 per cent for the year so far.