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Daily Debrief: What Happened Today
DBS Group reported on Monday that its net profit for the fourth quarter ended Dec 31, 2015, rose 20 per cent to S$1 billion, compared with S$838 million a year ago.
- Update: DBS will see some rise in bad loans
- DBS's NPLs for offshore services at 1.3%; chief to say this is 'not a Lehman moment'
- DBS says even at US$20 per barrel for 2 years, provisions won't exceed S$200m
Singapore's economy is forecast to have grown at a slower pace in the fourth quarter than initially thought, underscoring why some analysts expect more monetary stimulus at the April review given a weakening outlook amid slackening global demand.
Global Yellow Pages Limited on Monday said it has filed a defamation lawsuit against Goh Kok Liang, the director and sole shareholder of Leisure Empire Pte Ltd.
Swee Hong Limited said on Monday that its managing director and CEO Ong Hock Leong has stepped down from his roles after his lawyers informed the group of a bankruptcy order against him.
Vard Holdings said on Monday that it has secured a new contract, valued at 325 million Norwegian kroner (S$53.4 million), for the design and construction of one stern trawler for Havfisk ASA, Norway's largest trawler company.
The group currently has 575.25 million issued shares and does not hold any treasury shares. Upon completion of the proposed share split and assuming no change to the number of issued shares from then, the company will have 1.73 billion issued sub-divided shares.
The STI Today
Trading in the local stock market got off to a cautious but firm start to the week with the Straits Times Index rising 3.78 points to 2,660.65 in response to a 150-point rise in the Dow futures and a 0.9 per cent gain for the Hang Seng Index. Turnover amounted to 1.3 billion units worth S$1.06 billion and excluding warrants there were 234 rises against 132 falls in the whole market.