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Daily Debrief: What Happened Today
The chief executive of embattled commodity trader Noble Group Ltd defended its financial position after what it called an "unexpected" move by Moody's Investors Service to cut its credit rating to junk status, slamming its stocks and bonds.
Singapore's Minister of National Development Lawrence Wong on Wednesday said that the Housing and Development Board will launch 18,000 new flats in 2016, 3,000 more than what was launched in 2015.
Keppel Group on Wednesday said it has completed a share swap with Mapletree Investments that would see Keppel holding full control of office building Keppel Bay Tower.
Sembcorp has injected equity worth around 925 million yuan or approximately S$202 million for a 49 per cent stake in the JV, a sum financed by internal funds, it said in a Singapore Exchange filing on Wednesday morning.
A board reshuffle at industrial landlord Ascendas Real Estate Investment Trust (A-Reit) will see the head honcho of urban solutions provider Ascendas-Singbridge coming onboard as vice-chairman.
"In many countries the financial sector still has weaknesses and in emerging markets the financial risks are increasing. All of that means global growth will be disappointing and uneven in 2016," IMF Managing Director Christine Lagarde said.
The STI Today
Perhaps the only firm conclusion which can be drawn from Wednesday's nondescript penultimate session of 2015 was that it fell within expectations - volume was weak, interest was absent and many players were said to be away for the holidays.