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Daily Debrief: What Happened Today

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Faber Garden relaunching en bloc sale at same S$1.18b price

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, IMDA's startup accelerator to kick off in February 2019 in Singapore

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.

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DBS, POSB to provide instant approvals for credit cards, credit line

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 takes 50% stake in co-working operator

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.


Singapore Manufacturing Federation names Ahmad Magad as new secretary-general

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.


Coal miner Resources Prima enters MOU to buy China property developer in reverse takeover

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 now plans to retain large stake in Oman concession after positive feasibility study

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.


Singtel launches mobile payment alliance for cross-border travel

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. 


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Singapore shares end lower on Tuesday

Singapore shares closed lower on Tuesday, with the Straits Times Index down 0.4 per cent or 12.81 points to 3,242.65.