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Daily Debrief: What Happened Today
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UBER Technologies priced its initial public offering (IPO) on Thursday at the low end of its targeted range to value the company at US$82.4 billion, hoping the conservative approach would let it avoid the market chaos suffered by rival Lyft.
OYSTER Bay Fund Ltd, a global multi-strategy investment fund, is mulling an investment and has given Hyflux a non-binding letter of intent, the firm said on Friday.
WITH the proceeds, the company is also aiming to ramp up growth in Singapore, and build infrastructure to support revenue of US$100 million, it said.
SALES were down by 1 per cent on the year prior - or 1.5 per cent with motor vehicles excluded - for a value of S$3.8 billion altogether, with 5.3 per cent of transactions done online.
OCBC Bank, like the other two Singapore lenders, is feeling the chill of last year's property cooling measures with its mortgage book "reduced visibly" for the first quarter of 2019.
- OCBC beats estimates with 11% rise in Q1 profit to S$1.23b
- HRnetGroup Q1 profit up 18.5% to S$19.3m
- Nordic Group posts 40% drop in Q1 profit to S$2.1m, bags S$5.7m of contracts
- ISEC Healthcare posts 6% rise in Q1 profit to S$2.2m
- CDL's Millennium & Copthorne Q1 profit, room revenue fall as renovations hurt
The STI today
THE benchmark Straits Times Index (STI) opened higher but whipsawed shortly after the US tariffs on China were in force, eventually closing at 3,273.50, up 3.80 points or 0.1 per cent.