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Daily Debrief: What Happened Today
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Singapore-based private equity firm Kendall Court announced a US$55 million investment in an Indonesian company, which is expanding and building a 420-bed hospital in Jakarta to tap the country's fast-growing healthcare services sector.
FITCH Solutions Macro Research has revised its average forecast for the Singapore dollar this year to S$1.35 per US dollar, down slightly from S$1.36, on the back of forces like the US-China trade tensions and rising US interest rates.
CITY Developments Limited (CDL)'s Whistler Grand condo at West Coast Vale will go on sale at an average price of S$1,380 per square foot (psf), which the giant developer touts as the most affordable launch for the fourth quarter.
The company said it has decided to take a minority stake in palm oil cultivator Agricore rather than conduct a full takeover in view of commercial considerations, and will continue to focus on its existing core business of providing engineering services and equipment.
The partnership aims to do this by providing a launch pad for Singaporean startups to expand into the India market and vice versa.
- SGX Q1 net profit stable at S$91m, declares interim dividend of 7.5 cents
- Frasers Commercial Trust Q4 DPU dips to 2.4 Singapore cents
The STI today
Share prices in the Singapore bourse skidded with the key Straits Times Index tumbling 2.69 per cent following the overnight rout in US stocks that saw an extreme sell-off across Asian equity markets.