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Daily Debrief: What Happened Today
United Overseas Bank (UOB) could see its non-performing loan ratio rise to 2 per cent if oil prices stay lower longer. Of its S$12 billion exposure to the oil and gas sector, S$2 billion is vulnerable, said Wee Ee Cheong, UOB deputy chairman and chief executive.
Credibility - that is what the Monetary Authority of Singapore (MAS) has achieved in its 45 years of existence, said Deputy Prime Minister and MAS chairman Tharman Shanmugaratnam on Tuesday.
Sembcorp Marine Ltd, which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private.
A senior National Trades Union Congress (NTUC) figure has expressed concern for Singapore's financial sector, which has seen a "worrying" trend of foreign banks laying off their employees.
Real estate developer Oxley Holdings will launch a 207-room hotel and a 590-key serviced residence in Kuala Lumpur.
Singapore's third law school, focusing on criminal and family law, will take in its first batch of 50 to 60 students from January 2017.
- StarHub Q4 net profit down 14.3% to S$80.8m
- UOB's Q4 profit up 0.3% from a year ago, full-year down 1.2%
- Great Eastern posts 5% rise in Q4 profit, keeps dividend payout
The STI Today
The Straits Times Index on Tuesday jumped 36.68 points or 1.4 per cent to 2,644.58 in line with gains in Hong Kong, China, the Dow futures and a rise in oil to above US$30 per barrel. Turnover was a robust 1.1 billion units worth S$1.44 billion, with an advance-decline score of 262-132 excluding warrants.