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Daily Debrief: What Happened Today
A motor vehicle transporting certain accounting records of a subsidiary caught fire near a coal mine in China on Aug 9, logistics firm Vibrant Group said on Wednesday night. The fire took place about a month after the group announced that its auditors have found accounting irregularities in certain units of wholly owned subsidiary Blackgold International Holdings, which Vibrant acquired a year ago. Blackgold is a coal producer that had been listed in Australia.
From October 2018, companies will no longer need to affix their stamps on government forms - including tender-related documents submitted through government portal GeBIZ - unless required by legislation.
Aspial Corp has launched a debt buyback programme to repurchase up to S$10 million of an outstanding S$74 million of 5.5 per cent notes due November 2018, the jewellery and property company announced on Thursday.
Keppel Land's chief financial officer Lim Kei Hin has died on Aug 10 at the age of 60. Mr Lim died peacefully last Friday and was cremated in Frankfurt, Germany, according to an obituary in The Straits Times.
The Stratech Group has agreed to place out an eventual 58.4 per cent stake in itself to a private equity investor for US$20 million and to convert about S$8.75 million of loans into shares, the surveillance technology company announced on Wednesday after the market closed.
China's leading online parenting firm Babytree Group, backed by e-commerce giant Alibaba Group, plans to raise up to US$1 billion in a Hong Kong initial public offering (IPO) in October, people close to the transaction told Reuters.
The STI Today
Share prices in the Singapore bourse closed lower on Thursday, with the key Straits Times Index down 22.19 points, or 0.7 per cent, to 3,211.93.