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Daily Debrief: What Happened Today

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The CCCS last Friday said it had grounds to suspect that Grab and Uber have infringed the Competition Act, and had proposed interim measures to preserve competition while it investigates their merger.

Grab buys Uber's South-east Asia business; Uber gets 27.5% stake in Grab
SINGAPORE-BASED Grab on Monday announced that it has acquired Uber's South-east Asia operations for an undisclosed sum - putting an end to months of speculation about the merger between the two ridehailing giants.

Singapore's February factory output beats expectations despite CNY effect
THE Economic Development Board on Monday reported that industrial production grew 8.9 per cent in February compared to a year ago, faster than the 4.2 per cent expected by economists in a Bloomberg poll.

Noble directors say proposed restructuring will result in 'fair and equitable treatment of all shareholders'
UNDER the restructuring support agreement or RSA, if shareholders do not approve of this primary restructuring, the "alternative restructuring" on a prepackaged basis involves the sale of target assets to a new Noble entity and the issuance of shares in the new entity to shareholders who voted in favour of the primary restructuring.

First fintech to list on Singapore bourse Ayondo debuts at S$0.24
GLOBAL fintech group Ayondo on Monday made its debut on the Singapore Exchange's (SGX) Catalist board at S$0.24 apiece - marking the first fintech company to be listed on the Singapore bourse.

Market voices on:

Buyout offer for LTC Corporation extended to April 9
THE offer for the mainboard-listed company from a group of LTC Corporation's controlling shareholders from the Cheng family is at S$0.925 per share. 

Datapulse releases EGM circular; to report some findings from mandated independent review to SGX within a month
THE meeting will be held at the Fuji Room of the Hengda Building in Cecil Street on April 20, at 2pm, the board announced on the Singapore Exchange (SGX) website on Monday afternoon.

The STI today

Singapore shares end 0.26% lower on Monday
THE benchmark Straits Times Index (STI) shed 8.93 points, or 0.26 per cent, to 3,412.46, as the trade tariff stand-off between the world's two largest economies continued to weigh on investors' minds.