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Daily Debrief: What Happened Today
Cash-strapped Hyflux said on Thursday that a key rescue deal from the Salim-Medco investment group is officially off with just weeks to go before the water and power plant company loses court protection from creditors.
For European companies seeking to make inroads into South-east Asia's advanced manufacturing industry, Singapore serves as an ideal springboard to the region, Senior Minister of State for Trade and Industry Koh Poh Koon said at an Industry 4.0 forum during the Hannover Messe trade show on Wednesday.
The Singapore Exchange (SGX) on Thursday queried two Catalist-listed firms - Synagie Corporation and Y Ventures - citing "unusual price movements" in their shares after both counters shot up by about 40 per cent in early morning trade.
Frasers Property said on Thursday that it "has been in discussions with certain parties who have expressed interest” in its Frasers Tower office property, located at 182 Cecil Street.
The volume of Housing Board (HDB) resale flats grew by 26.1 per cent in March, marking the highest jump in eight months since August last year. There were 1,657 HDB resale transactions in March, up from the 1,314 units sold in the previous month, according to according to flash estimates from real estate portal SRX Property on Thursday.
Data-loss incidents cost an average of US$1.4 million to Singapore organisations over a period of 12 months. This is higher than the global average of US$939,703, according to a recent report from Dell EMC.
The STI Today
The rally witnessed by markets in Asia started to dissipate on Thursday but the Singapore market still managed to close higher despite a lack of catalysts. The Straits Times Index (STI) gained 4.94 points or 0.15 per cent to close at 3,316.21.