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Daily Debrief: What Happened Today
The owners of Faber Garden are launching on Wednesday another collective sale bid while keeping to the same reserve price of S$1.18 billion. Located at Angklong Lane off Upper Thomson Road, the freehold site was put up for tender in April this year but closed without a sale in May.
Facebook on Tuesday unveiled Startup Station, Singapore, a startup accelerator programme for data-driven startups based in South-east Asia. The programme is created in partnership with the Infocomm Media Development Authority (IMDA), and is set to kick off in February 2019.
DBS Bank has launched a first-in-Singapore online application service that will allow it to provide new-to-bank and existing customers instant approval for DBS/POSB credit card applications, as well as enable customers to open a DBS Cashline immediately.
CapitaLand has - through subsidiary CL Kingdom Investment - invested S$13.5 million for a 50 per cent stake in The Work Project Kingdom (TWPK), and will extend another S$13.5 million in shareholder loans to the co-working operator.
The Singapore Manufacturing Federation (SMF) has appointed Ahmad Magad, group managing director of II-IV infrared optics manufacturing operations in Asia, as its new secretary-general from Oct 16, 2018.
Indonesian coal miner Resources Prima Group has entered into a binding memorandum of understanding with Hing Chung Group to fully acquire ChongQing HuangYang Property Development for S$33 million in what will result in a reverse takeover of Resources Prima.
Rex International Holding is now considering maintaining a high equity stake in its Block 50 Oman licence instead of farming out a substantial equity interest following encouraging results from a feasibility study, the oil and gas exploration company announced on Tuesday during the midday trading break.
The Singtel Group on Tuesday launched VIA, its cross-border mobile payment alliance, with its regional associate AIS and Kasikornbank, Thailand’s largest digital bank. Singtel and AIS will now offer QR code-based mobile payments through their mobile wallets - Singtel Dash, AIS GLOBAL Pay and Rabbit Line Pay - across both Singapore and Thailand.
The STI Today
Singapore shares closed lower on Tuesday, with the Straits Times Index down 0.4 per cent or 12.81 points to 3,242.65.