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Daily Debrief: What Happened Today
Nearly a third or 30 per cent of business leaders in Singapore have demoted an employee at their company, according to findings from an independently commissioned study by specialist recruitment consultancy Robert Half.
Changi Airports International (CAI) said its chief executive officer, Lim Liang Song, will be succeeded by its managing director of asset management, Eugene Gan, with effect from July 1, 2019.
The trade conflict between the United States and China has led to slower growth for Germany-based chemicals giant Evonik Industries, a senior executive said. But executive board chairman Christian Kullmann still called business growth levels above economic expansion “a must” at the launch of the company’s new specialty chemicals plant in Singapore on Tuesday morning.
ESR-Reit will issue about 194.2 million new units under its upsized private placement to raise gross proceeds of S$100 million, the manager of the mainboard-listed real estate investment trust (Reit) said in a bourse filing early Tuesday morning.
Property firm OUE has, through its subsidiaries, subscribed for all the shares of PT Deer Pine Indonesia, an investment holding company incorporated in Indonesia.
Singapore solar energy company Sunseap Group will be developing solar projects in Taiwan under a joint venture (JV) with Pacific Green Energy Co Ltd.
The STI Today
Investors in the local equities market took to shoring up stocks in the lead-up to the two-day US Federal Reserve June meeting, which starts later in the day. Expectations of a dovish Fed are high, with the question of rate cuts not a case of whether they will be done but when. Singapore's Straits Times Index (STI) closed at 3,238.73, rising 30.74 points or 1 per cent.