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Daily Debrief: What Happened Today
OCBC Bank said on Thursday that it has agreed to buy National Australia Bank's (NAB) private wealth business in Singapore and Hong Kong , a move which will give the Singapore bank immediate access to about 11,000 new affluent customers and add US$3.05 billion in customer deposits.
The COE (Certificate of Entitlement) premium for commercial vehicles continued to fall but only slightly. In the first bidding exercise of the new quota, Category C - for goods vehicles and buses - shed S$472 to S$26,029. It had fallen by nearly S$20,000 two weeks ago.
Local interest rates continue to fall amid flush liquid market conditions. The three-month SOR or swap offer rate has been tumbling since late April and at 0.7683 per cent on May 9 is back to early February levels. The three-month SOR is a benchmark used for corporate loans.
New agriculture land for food farming in Lim Chu Kang and Sungei Tengah is slated for tender from August this year.
ExxonMobil said on Thursday it has reached an agreement to buy over Jurong Aromatics Corporation (JAC), confirming speculation in the market.
Noble Group has appointed independent non-executive director Paul Brough as its new chairman, replacing founder Richard Elman who will now take on a non-executive role as founder and chairman emeritus.
Global engineering firms Systra and Meinhardt on Thursday announced that they have been awarded two contracts for the Kuala Lumpur-Singapore High Speed Rail (HSR) project by MyHSR Corporation, the company responsible for the development and promotion of the project.
- Wing Tai's net profit surges to S$7.4m, revenue slips 35% to S$73.5m in Q3
- Wilmar's Q1 net profit leaps 51% to US$361.6m
- Noble incurs Q1 net loss of US$129.5m despite rise in revenue
- SBS Transit's Q1 profit up 26.6% to S$10.2m
- FCL posts 42.2% drop in Q2 profit
- The Trendlines Group posts S$1.7m Q1 loss
- Hatten Land sinks into RM74m Q3 loss on one-off RTO expenses
The STI Today
Rises in the three banks on Thursday pushed the Straits Times Index (STI) to its highest level in about 22 months, up 21.14 points or 0.65 per cent to 3,271.11. Turnover was a heavy 2.1 billion units worth S$1.9 billion but gains were not widespread - the advance-decline score excluding warrants was 239 to 269.