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Daily Debrief: What Happened Today
Neptune Orient Lines (NOL) said on Monday CMA CGM has offered to buy it for S$3.4 billion, at a 6.1 per cent premium over the last traded price. NOL's majority shareholder, state investor Temasek Holdings, fully supports the transaction and will be selling their shares to CMA CGM. Temasek owns two-thirds of NOL.
Prime Minister Lee Hsien Loong had indicated in September 2015, in conjunction with the announcement of the new Cabinet, that Budget 2016 would be held later than usual.
Lifestyle real estate and investment company Rowsley Ltd will team up with healthcare service provider Thomson Medical Pte Ltd to develop the Vantage Bay Healthcare City project in Iskandar in southern Malaysia, valued at RM5 billion (S$1.67 billion).
The Singapore Exchange is looking to boost liquidity of its faltering gold contract by extending trading hours and allowing jewellers and refiners to participate, an official said on Monday.
Sembcorp Industries on Monday said its wholly owned subsidiary, Sembcorp Utilities, has signed a memorandum of agreement with Myanmar's Department of Electric Power Planning to invest in and develop a US$300 million gas-fired power plant in central Myanmar.
The US dollar's rise is likely over as the central banks of Japan and Europe are not inclined towards further easing, said Alain Bokobza, a strategist with French bank Societe Generale (SocGen).
The STI Today
Wall Street's bounce on Friday helped push the Straits Times Index up 21.87 points on Monday to 2,900.92, a rise that was led by the three banks. Turnover however, was a feeble 892.6 million units worth S$759 million and despite the strong index showing, the broad market's advance-decline score was a very mixed 200-199.