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Daily Debrief: What Happened Today
A state tender for a plum 99-year leasehold commercial site at Beach Road had attracted five bids when its tender closed on Thursday. The top bid, from GuocoLand, was S$1.622 billion, reflecting S$1,706 per square foot per plot ratio (psf ppr).
Singapore saw the largest initial public offering (IPO) in six years in its market through September, according to data in the latest EY (Ernst & Young) Global IPO Trends: Q3 2017.
OCBC Investment Research expects the Urban Redevelopment Authority's (URA) third-quarter price index to rebound for the first time in four years - a key inflection point marking the end of the Singapore housing bear.
Starbucks Coffee Company announced on Thursday that it has entered into an agreement with its long-time strategic partner Maxim's Caterers Limited to license fully Starbucks operations in Singapore.
A subsidiary of Catalist-listed Koh Brothers Eco Engineering Ltd has secured a S$520 million contract from PUB in collaboration with its joint-venture partner Penta-Ocean Construction Co Ltd.
YOTEL, the chain of microhotels,will open its first in Asia on Sunday in the heart of Singapore. Located at 366 Orchard Road, YOTEL Singapore integrates elements of luxury hotels into smartly designed spaces to provide guests with "everything they need and nothing they don't".
The counter of APAC Realty Ltd, which operates under the ERA brand, rose to S$0.715 on Thursday morning, its first day of trading. This is above its initial public offering (IPO) price of S$0.66 per share.
SUKI Sushi, which launched an unconditional mandatory offer for Catalist-listed Mary Chia Holdings earlier this year, now owns, controls or has agreed to acquire about 90.1 per cent of the latter, as at 5pm on Sept 27.
The STI Today
Slight follow-through buying of the banks on Thursday first helped the Straits Times Index record a 14-point rise to an intraday high of 3,250 but the momentum was lost once the Dow futures dipped into the red and the index finished the day a net 9.01 points weaker at 3,227.14.