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Daily Debrief: What Happened Today
Vienna, the capital of Austria, has displaced Melbourne as the world's most liveable city, according to the latest survey by the Economist Intelligence Unit. After seven years at the top, the Australian coastal city was displaced by Vienna, which ranked ahead of Melbourne by just a fraction of a point. Relative stability across much of Europe improved Vienna's security scores to push it to the top.
CapitaLand has won its bid to acquire two prime residential sites in Guangzhou, China for 2.05 billion yuan (S$409.3 million), the property developer announced on Tuesday.
Real estate agency PropNex has entered into a master franchise agreement with PropNex Realty (Vietnam) Co to grow its business in Vietnam. The agreement will give Singapore-based PropNex a 25 per cent stake in the Vietnam franchisee for a nominal sum of US$1.00, the company announced on Tuesday during the midday trading break.
If Sherman Kwek sounds annoyed, he has his reasons — 2.9 million square feet worth of reasons. That figure, equating to 270,000 square metres, is the total saleable area of apartments almost ready to hit the market on the books of City Developments Ltd, the Singapore developer controlled by the family of billionaire Kwek Leng Beng, who handed the keys of his empire this year to son Sherman.
- Pan Ocean Q2 earnings up 98% to US$35.6m
- LY Corp net profit down 40% in Q2
- Valuetronics Q1 profit up 1.9% on higher industrial, commercial electronics revenue
- Olam Q2 profit drops 36% to S$94m
- Bumitama Agri Q2 profit grows 36.1% to 388b rupiah on higher palm production
- Golden Agri falls into Q2 loss of US$39m amid soft palm oil prices
The STI Today
Share prices in the Singapore bourse closed marginally lower on Tuesday, with the key Straits Times Index down just 2.47 points, or 0.08 per cent, to 3,242.87.