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Daily Debrief: What Happened Today
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Singapore Post (SingPost) announced on Friday that Vincent Phang will be the new CEO of postal services as well as its Singapore head, with effect from April 1, 2019. Mr Phang is replacing retiring Woo Keng Leong, who will serve as postal advisor to the SingPost group with effect from April 1, 2019, to ensure a smooth transition.
SilkAir, the regional arm of Singapore Airlines (SIA), will be increasing its flight frequency to Cairns, Australia, from the current five flights per week to a daily flight with effect from June 2 next year. The additional flights will be operated on Tuesdays and Sundays with Boeing 737 MAX 8 aircraft, fitted with 12 Business Class and 144 Economy Class seats. They are, however, subject to regulatory approvals, SIA announced on Friday.
Furniture seller Lorenzo International suspended trading in its shares on Friday after its auditor withheld its opinion and raised doubts about the company's status as a going concern.
All 16 of Singapore's town councils received unqualified financial statements for the past financial year except for Aljunied-Hougang Town Council (AHTC), said the Ministry of National Development (MND) in a statement on Friday afternoon.
The STI today
Singapore stocks closed lower on Friday, with the Straits Times Index down 1.1 per cent or 33.99 points to 3,077.09.