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Daily Debrief: What Happened Today
Developers sold a total of 322 private residential units in January, a 16 per cent drop from 384 units sold in December, and a 14 per cent drop from a year ago.
Sembcorp Marine made impairment and provisions of S$609 million for rigs, including S$329 million for Sete Brasil drillship projects, for the fiscal year ended Dec 31, 2015, with the view that this down-cycle will be "more protracted than previous cycles".
Business confidence in Singapore bounced back from a four-year low in the fourth quarter of 2015, but remains largely pessimistic and worse than global levels, according to the Global Economic Conditions Survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants.
Motor vehicles lifted Singapore's retail sales to a 2.9 per cent year-on-year growth in December 2015 from what would otherwise have been a 3.6 per cent decline, according to the Department of Statistics.
Three liquefied natural gas (LNG) traders at Asia's biggest commodity trade house, Noble Group Ltd, including two co-heads of the team, are leaving to join rival trader Glencore, sources familiar with the matter told Reuters.
Technics Oil & Gas will resume trading on Monday after failing to reach an agreement to sell certain assets.
The STI Today
Coming off a brutal week, Singapore stocks bounced on Monday along with most other markets in Asia. As sentiments that equities have been oversold gained force, the local market finished 2.7 per cent higher, with the Straits Times Index rising 67.95 points to 2,607.9.