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Daily Debrief: What Happened Today
Noble Group has secured a binding commitment for US$100 million of trade finance facilities from a consortium of existing shareholders, the commodity trader announced on Friday before the market opened. The consortium comprises Value Partners, Pinpoint Asset Management and other shareholders with a combined equity interest of 5 per cent who have irrevocably agreed to vote their interests in favour of Noble Group’s restructuring plan.
Singtel's push into the digital realm continues to see "considerable progress" as it gears up against cyber threats, expands its digital marketing strategy and strengthens its core telecoms business in a "challenging" operating landscape.
As the brewing trade battle between the US and China threatens to slow demand for air freight, the market is also facing pressure as demand gets in line with supply, according to the chief executive officer of Singapore Airlines.
Mainboard-listed Nico Steel Holdings reclassified interest expense on working capital borrowings as operating activities instead of financing activities following its audit, leading to a discrepancy with its unaudited financial statements, the company said on Thursday in response to a query by the Singapore Exchange (SGX).
Malaysia-based office furniture maker, Versalink Holdings, on Friday announced several changes to its management team. Executive director and group chief operating officer, Law Pei Ling, 42, will be redesignated as executive director of corporate strategy.
The STI Today
Tracking overnight losses on Wall Street, a wobbly Straits Times Index (STI) slipped on Friday as the poor sentiment from trade skirmishes lingered. The STI was down by 12.6 points, or 0.38 per cent, at 3,287.4, with gainers narrowly outpacing losers 200 to 188 on the overall bourse.