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Daily Debrief: What Happened Today
Singapore's headline inflation rose in May with further increases expected over the course of the year. The consumer price index (CPI) was up 0.4 per cent year-on-year, in line with economists' expectations and picking up the pace from April's 0.1 per cent rise, according to a Department of Statistics statement on Monday.
ARA Asset Management (ARA), through its wholly owned unit ARA Cache (Holdings) Pte Ltd, has entered into a share purchase agreement (SPA) with CWT Pte Limited (CWT) to acquire all of CWT’s shares in the Reit manager of Cache Logistics Trust. It is also concurrently acquiring the property manager of Cache Logistics Trust through a separate entity.
Dalvey Court owners have put the condominium development near to the Singapore Botanic Gardens up for collective sale with a reserve price of S$160 million, according to a press statement on Monday.
Bicycle sharing company oBike has become the second dock-less bicycle business to shutter its Singapore operations rather than apply for a licence from the Land Transport Authority (LTA).
Commodity trader Noble Group on Monday said its indirect wholly owned subsidiary, Maylion has acquired an additional 52.5 per cent shareholding interest in coal exploration and development firm, East Energy Resources (EER).
Shipbuilder Vard Holdings has clinched a contract to build three coast guard vessels for the Norwegian Defence Materiel Agency (NDMA) for more than 5 billion Norwegian kroner (S$839 million), it announced on Monday afternoon.
StarHub said it will discontinue the suite of television channels from Discovery Networks, following unsuccessful negotiations between the two companies. This will be done in two phases on June 30 and Aug 31.
The STI Today
Singapore shares kicked off the week closing lower on Monday, as concerns over an escalating trade war continues to haunt investors. After opening at 3,279.53, the benchmark Straits Times Index (STI) eased to close at 3,260.84, down 0.81 per cent, or 26.56 points, from Friday’s close.