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Daily Debrief: What Happened Today
ExxonMobil has started production from two new multi-billion dollar plants producing petrochemicals used in adhesives and manufacturing tires.The first plant equipped to produce up of 90,000 tonnes annually of its proprietary product, Escorez hydrogenated hydrocarbon resins, is the world’s largest of its kind, the supermajor said on Thursday.
A highly-skilled employee in the manufacturing, financial services or the TMT (technology, media and telecommunications) industry in Singapore can expect to be paid an extra US$29,100 (S$39,500) per year by 2030 as talent shortages loom, according to a new study by consulting firm Korn Ferry.
Internet service provider MyRepublic has moved into the telco space, offering three mobile plans for all users from Thursday. The move comes a month after the company offered mobile services for its existing broadband customers.
A joint venture partner of mainboard-listed Singapore Myanmar Investco (SMI) has filed an originating summons to block SMI's US$10.8 million proposed disposal of TPR Myanmar.
Hong Kong-listed engineering and renewable energy outfit CW Group expects it will not be able to repay Singapore dollar-denominated (SGD) notes and pay a final dividend to shareholders due to its inability to raise new money from investors.
China Environment said that managers of a wholly owned subsidiary in China would not cede over control of the unit's funds and also rebutted allegations of possible misappropriation of rental income.
Australian telecommunications firm MNF Group has agreed to acquire Singapore-based SuperInternet Group for some S$2 million, it announced on Thursday. The ASX-listed MNF Group expects the deal for the niche facilities based operator to be finalised once all customary regulatory approvals are received, which is expected before July 31, 2018.
The STI Today
Gloomy market sentiment persisted on Thursday, despite a brief reprieve the day before. The Straits Times Index ended lower by 15.9 points, or 0.48 per cent, to 3,300.