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Daily Debrief: What Happened Today
The owners of Florence Regency, a privatised HUDC estate in Hougang, will continue to look for a buyer willing to pay at least the valuation of S$629 million after bidders in a public tender declined to raise their offers.
Shareholders of Singapore developers have another reason to rejoice: en-bloc sales are heading towards a ten-year high, according to some estimates.
This en bloc boom has legs, analysts at JP Morgan reckon. With collective sales having quadrupled year on year to S$5.2 billion year to date, the analysts believe that the Singapore property market is poised for the start of a "sustainable" three-year en bloc cycle, they said in an Oct 5 research report.
Singapore Airlines Ltd is pursuing more than 50 cost-cutting initiatives including reducing fuel burn and reviewing its relationship with key suppliers as part of a three-year plan to make the airline more competitive, a newsletter to staff shows.
Watch-list firm China Taisan in SGX's crosshairs (subscription required)
China Taisan Technology Group Holdings' litany of sharp queries from the Singapore Exchange (SGX) since December last year has cranked up considerably in recent weeks, signalling that it is being closely scrutinised by the frontline regulator.
IT solutions provider DMX Technologies is suing former auditor Deloitte & Touche LLP in the High Court over accounting irregularities discovered in 2015, the company announced on Friday before the market opened.
More than 250 companies, including employers in the public service, have signed up to a new standard on flexible work arrangements (FWAs) as early adopters, the Ministry of Manpower (MOM) said on Friday.
UOB Kay Hian maintained its "buy" call on OCBC Bank on Friday, as it foresees higher loan growth and net profit when the lender announces its third-quarter results on Oct 26.
The STI Today
The banking sector was once again the focal point of the week, initially rising on expectations of a December US rate hike, then falling sharply on Tuesday and Wednesday when traders switched into China banks trading in Hong Kong following a reserve requirement rate (RRR) cut by China's central bank.