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Daily Debrief: What Happened Today
Singapore’s non-oil domestic exports (NODX) slumped by 15.9 per cent in May, as uncertainty from global trade tensions, the fading of the electronics cycle, and a high base from a year ago continue to bite.
The Monetary Authority of Singapore (MAS) has issued prohibition orders against a former UBS banker over forged documents and fake emails.
The three largest banks by assets in Singapore will be able to defend their market share against fintech competitors, despite the rapidly growing threats to their bank business from these companies, Moody’s Investors Service said in a report on Monday.
Developers in Singapore sold 952 private homes in May 2019, up 29.5 per cent from the 735 units they moved in April 2019, but 15.2 per cent lower than the 1,122 units they sold in May last year.
ST Engineering's aerospace arm has entered into respective partnerships with Air New Zealand and Honeywell. Air New Zealand and ST Engineering are teaming up to trial the use of drones to inspect aircraft, while ST Engineering will act as a licensed repair centre for Honeywell components.
Mercurius Capital Investment is looking to acquire half of a Thai private property developer, Grand Bay Hotel, for more than 335 million baht (S$14.69 million), as well as to jointly develop the Sheraton Phuket Grand Bay Resort, a resort in Phuket, Thailand.
ESR-Reit will acquire a warehouse in Jurong for S$225 million under a newly formed joint venture (JV), conduct asset enhancement works at two existing assets, as well as raise up to S$150 million in an equity fundraising to finance these transactions and repay existing debt.
The STI Today
The local market was in a cautious mood for the most part, as investors wait for details on the US Federal Reserve's June meeting for when rate hikes will be implemented this year. Singapore's Straits Times Index (STI) closed at 3,207.99, easing 14.64 points or 0.5 per cent.