You are here
Daily Debrief: What Happened Today
About half of OCBC Bank's oil and gas (O&G) portfolio is made up of businesses in the offshore support services, chief executive officer Samuel Tsien said on Wednesday. This portion, which stood at 47 per cent of its S$12.4 billion O&G portfolio, is "under more stress", and the bank has worked with its customers to ensure that vessels continue to be utilised, and generate cash flow, he said at a results briefing.
Singapore's non-oil domestic exports started the year with a 9.9 per cent plunge, extending the 7.2 per cent dive in December 2015.
As expected, the premium for a big-car Certificate of Entitlement (COE) shot back up on Wednesday, the second bidding exercise in February, after its surprise fall two weeks ago.
Singapore Exchange (SGX) queried Sembcorp Marine (SembMarine) on its "unusual" trading activity on Wednesday.
CapitaLand on Wednesday implied that it had earlier bowed out of negotiations to buy Asia Square Tower 1 office building because the property did not fit with its group strategy, and its yields did not meet requirements.
Changi Airport Group (CAG) is introducing a one-time rebate and extending others to help cargo partners tide over challenging conditions in the industry.
- Sembcorp Industries Q4 net profit falls 74.7%
- OCBC's Q4 net profit jumps 21% on higher trading income and gains from insurance
- CapitaLand Q4 profit falls 39.5% as cost of sales increase
- Viking posts S$9.4m loss on impairment amid weak order climate
The STI Today
A slip in the price of oil, softness in the Dow futures and a one per cent drop in the Hang Seng Index led to a 30.79 points or 1.2 per cent loss for the Straits Times Index to 2,613.79 on Wednesday as it gave back some of the 100 points it had gained on Monday and Tuesday.