Daily Debrief: What Happened Today

Iceberg's fourth report should be 'of no concern' to Noble shareholders: SIAS

The Securities Investors Association (Singapore), or SIAS, thinks shareholders of commodities trader Noble Group do not need to be concerned about allegations raised in the latest report by little-known outfit Iceberg Research, it said on Tuesday.

To let: Singapore office vacancies to rise as economy slows

Vacancies at Singapore's gleaming office towers are nearing their highest level in almost a decade, with construction of the city-state's tallest building - GuocoLand Ltd's 64-floor block in the financial district - wrapping up just as the economy slows.

Fitch further downgrades China Fishery ratings to 'restricted default'

Fitch Ratings has downgraded China Fishery Group's issuer default rating to "restricted default" or "RD" from "C" or what is defined as exceptionally high levels of credit risk where a default is inevitable.

Fitch rates Mapletree Industrial Trust's new notes 'BBB+'

Fitch Ratings on Tuesday assigned Mapletree Industrial Trust's new S$60 million 3.79 per cent fixed-rate unsecured and unsubordinated notes due in March 2026 a rating of "BBB+".

New Silkroutes to buy 51% stake in Stamford Management

New Silkroutes Group (NSG) said on Tuesday it would buy a 51 per cent stake in Stamford Management Pte Ltd, a Singapore-based investment manager overseeing about US$250 million, as part of efforts to expand its own asset management business.

China aims to lay off 5-6m state workers: sources

China aims to lay off 5-6 million workers from "zombie enterprises" over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two sources with ties to the country's leadership said.

Corporate Earnings

The STI Today

Singapore shares close higher after gains in China, HK and Dow futures

Gains in China, Hong Kong and the Dow futures helped the Straits Times Index rise 15.88 points to 2,682.39 on Tuesday in decent volume of 1.4 billion units worth S$1.5 billion. Of this, S$927 million or 62 per cent came from trading in index members while the broad market recorded an advance-decline score of 233-147 excluding warrants.