Daily Debrief: What Happened Today

Singapore developers sell almost twice as many private homes, executive condos in July

Developers sold a total of 2,086 private homes and executive condominiums (ECs) - the public-private housing hybrid - in July, almost double the 1,064 units sold in June.

SIA, F&N bond issuances oversubscribed

Singapore Airlines (SIA), which is looking to raise S$700 million through a 10-year bond issuance at 3.13 per cent, has received an order book of more than S$1.1 billion from 60 accounts.

Noble Group hit by 'loss of confidence' as ratings cut again

Noble Group Ltd may default on its debt as soon as the next six months, according to S&P Global Ratings and Moody's Investors Service, which again cut their scores on the commodity trader while warning that planned asset sales may be insufficient to cover obligations.

Perennial-Yanlord bid for UE 'fair and reasonable': independent adviser

Holders of UE's common stock and preference shares should accept the bidding group's offer - S$2.60 per common share and S$2.60 per preference share - unless they can get a better price on the open market, the adviser, SAC Capital, said.

Troubled TT International requests extension to announce financial results

Troubled consumer electronics retailer TT International said on Tuesday it has applied for an extension of six months till Feb 14, 2018 to announce its unaudited financial statements for Q1 and Q2 FY2018.

Best World shares plunge 11% on news of China's crackdown on direct selling firms

Best World International (BWI), a direct seller of skincare and wellness products, in response to the Singapore Exchange's queries on its unusual trading performance on Tuesday, referred to a Bloomberg report on Aug 15 which had reported on market concerns of a crackdown by regulators on the market practices of certain direct selling companies, even though BWI was not named as one of them.

The STI Today

Singapore shares close weaker

Monday's 29-point bounce for the Straits Times Index may have been too much too soon - on Tuesday, the STI's recovery from last week's North Korea-triggered selloff ran out of steam when it finished a net 13.76 points weaker at 3,294.93.