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Daily Debrief: What Happened Today
Come Jan 1, there will be a new measure to help borrowers avoid accumulating excessive unsecured debts. The new Credit Limit Management Measure will cap the additional unsecured credit that a financial institution (FI) may extend to a borrower whose outstanding unsecured debts exceed six times his monthly income.
Developers sold 785 private homes in November 2017, slightly higher than the 760 units they moved in the previous month, but lower than the 860 units sold in November last year.
Noble Group expects to soon receive a proposal from creditors on its debt restructuring, its chairman said, as the struggling commodities trader seeks to keep its business running.
Come Jan 20, Singapore Airlines and SilkAir will start charging some Economy Class passengers for advance seat selection.
The main building of the former National Aerated Water Factory at 1177 Serangoon Road will be gazetted for conservation, Singapore's Urban Redevelopment Authority (URA) announced on Friday.
About 13 per cent of Singapore's small and medium enterprises (SMEs) sought external financing in the past year and a bulk or 90 per cent of them were successful in their applications for debt financing, according to a latest survey by Spring Singapore.
The STI Today
The sell-offs continued on Friday, erasing gains earlier in the week as investors get jittery about the US tax cuts pushing through. The benchmark Straits Times Index lost 18.84 points or 0.55 per cent to end at 3,416.94. For the week, the index lost nearly eight points.