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Daily Debrief: What Happened Today

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The retail petrol market should make petrol pricing schemes more transparent, to enable motorists to make better price comparisons among retailers and hence, make more informed purchase decisions, said the Competition Commission of Singapore (CCS).

Singapore competition panel urges more transparency in petrol pricing
THE retail petrol market should make petrol pricing schemes more transparent, to enable motorists to make better price comparisons among retailers and hence, make more informed purchase decisions, said the Competition Commission of Singapore (CCS).


GIC acquires 43% stake in Tokyo office property for 62.5b yen
GIC, Singapore's sovereign wealth fund, will acquire a 43 per cent stake in Shinjuku MAYNDS Tower, a large-scale Grade A office property in Tokyo, from Daiwa Office Investment Corporation for 62.5 billion yen (S$747.7 million).


URA launches tender for residential site at West Coast Vale
EARLIER in the month, the URA received an application from a developer who committed to a bid price of at least S$379.988 million for the site.


Criminal syndicate scams S$40m of fake SkillsFuture claims
A 41-year-old man has been hauled to court over his alleged involvement in Singapore's largest case of a defrauding of a public institution to date involving nearly S$40 million. 

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1MDB fallout: MAS slaps prohibition orders on ex-BSI Bank wealth manager, NRA founder
THE Monetary Authority of Singapore (MAS) has issued a lifetime ban against former BSI Bank wealth manager, Yeo Jiawei, and a three-year ban against NRA Capital's founder, Kevin Scully, with effect from Dec 18, 2017.


Noble Group faces key Dec 20 deadline amid restructuring talks
Lenders had agreed to waive certain rights under terms Noble Group committed to for its US$1.1 billion revolving credit facility until Dec 20. 


Spackman founder Charles Spackman to quit in board restructuring
THIS comes as the South Korean entertainment production group seeks to restructure its board to better prepare the company for a new phase of growth.


 

Corporate Earnings


The STI Today

Singapore shares close down 0.3% on Tuesday
THE Straits Times Index fell again on Tuesday, dipping by 10.35 points, or 0.3 per cent, to finish at 3,404.47.