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Daily Debrief: What Happened Today
Catalist-listed Koyo International's managing director Foo Chek Heng is being investigated by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD), the company said in a Singapore Exchange (SGX) announcement late on Wednesday night.
Resale prices of non-landed private homes in Singapore rose 0.6 per cent in January 2016 over the previous month, according to the latest flash estimates from SRX Property. This contrasts with a 0.5 per cent month-on-month drop in December 2015.
Real estate developer Frasers Centrepoint Ltd's (FCL) Australian unit has bought a 135ha site in south-east Queensland that has an "end value of S$270 million", the group said in a Singapore Exchange filing on Thursday morning.
ST Aerospace has launched a new VIP aircraft interiors centre at Seletar Aerospace Park to serve customers from across the Asia-Pacific and Middle East.
As profits sag and debt mounts, more Southeast Asian firms are set to join the likes of Malaysian oil giant Petronas in cutting capital expenditure, casting a cloud over economic growth in a region better known as a development hotspot.
Kyle Bass, the hedge fund manager who successfully bet against mortgages during the subprime crisis, said China's banking system may see losses of more than four times those suffered by US banks during the last crisis.
- Metro Q3 profit falls 12.6% on flat retail sales, lower associate contributions
- Malls' acquisition lifts Croesus Retail Trust's DPU for Q2 2016
The STI Today
Singtel's S$0.12 slide to S$3.54 ahead of its Q3 results on Friday accounted for an 11 point of the total loss of 43.82 points or 1.7 per cent suffered by the Straits Times Index on Thursday in a session that was weak and devoid of many redeeming features. The fall came in line with a 3.9 per cent drop in Hong Kong, a 270 point loss for the Dow futures that indicated Wall Street would be in for a torrid Thursday and a fall in the oil price to below US$27 per barrel.