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Daily Debrief: What Happened Today

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Business sentiment has moderated slightly for the upcoming final quarter of 2018, ending the rising trend of the preceding three quarters, according to the latest quarterly Singapore Commercial Credit Bureau's Business Optimism Index released on Tuesday.

Singapore business sentiment for Q4 2018 moderates: poll
THE overall index eased from +10.58 percentage points for Q3 2018 - a three-year high - to 9.19 percentage points for Q4 2018.  

Singapore condo resale prices see first monthly decline in a year after cooling measures: SRX data
RESALE prices of condominiums and private apartments declined by 0.2 per cent in August from the previous month, SRX's flash estimates released on Tuesday showed. 

DBS starts Wealth Chat service using WhatsApp, WeChat platforms
IT will initially provide content such as investment reports and research insights, with services such as trade placement to be added progressively next year, the bank said.

GIC, GLP tie up to establish US$2b fund to acquire logistics facilities in China
SAID Ming Mei, co-founder and chief executive officer of GLP: “This fund provides long-term capital to further strengthen our dominant network in China. We continue to see significant customer demand for our integrated logistics solutions and look forward to continuing to build our relationship with GIC.”

TT International unit Big Box Singapore starts liquidation proceedings
PRIOR to the commencement of its liquidation, BBS’s principal activities were general retail trade under the warehouse retail scheme (WRS) which included selling of goods on the ground floor of the Big Box building and operating the supermarkets in the building.

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OUE C-Reit to buy OUE Downtown's offices for S$908m; plans 83-for-100 rights issue at S$0.456 per rights unit
TO help pay for the acquisition, OUE C-Reit is also proposing to raise S$587.5 million through an underwritten and renounceable rights issue on the basis of 83 new units for every 100 units held at S$0.456 per rights unit.  

Singapore's small builders seen facing debt troubles amid curbs
MANY of the firms are probably affected by rising interest rates on their borrowings, while delays in collections from customers "would result in tight liquidity and potentially difficulties in repaying their loans," according to Angela Ee, a partner at EY.

The STI today

Singapore shares end lower on Tuesday
SHARE prices on the Singapore bourse closed lower on Tuesday, with the key Straits Times Index down 11.01 points, or 0.35 per cent, to 3,109.91. 



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