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Daily Debrief: What Happened Today

Mr Peter Tan is being sued by Prudential for allegedly instigating the defection of 221 agents and 23 agency leaders at his agency, Peter Tan Organisation, to rival insurer Aviva's subsidiary Aviva Financial Advisers in mid-2016.

Stories you might have missed

Defence lawyers question estimated losses from departure of Prudential agents

REFERRING to a media report of underwriting losses recorded by Prudential in 2015 and 2016, senior counsel Thio Shen Yi from TSMP Law asked how these losses squared with future profitability estimates made by Prudential's expert witness Larry Rubin.

US cloud provider 8x8 buys Singapore’s Wavecell for US$125m in cash, stock

8x8 is a cloud provider of voice, video, chat and contact centre solutions for more than one million users worldwide, while Wavecell offers SMS, chat apps, video interaction and voice solutions to help businesses enhance their customer experience.

Research partnership Roll-Royce@NTU Corporate Laboratory gets S$88m boost

THROUGH the renewed partnership, NTU and Rolls-Royce will implement the second phase of a corporate laboratory, with 29 projects focused on developing “novel technologies” focused on aircraft propulsion.

COE quota for August-October to fall 16.5% as record number opt to keep their old cars

THE quota for Category A (cars up to 1,600cc and 130bhp) will contract by 25.8 per cent to 2,112 a month. Category B (cars above 1,600cc or 130bhp) will be reduced by 8.6 per cent to 2,083 a month. The Open category shrinks by 5.3 per cent to 709 a month.

TT International investor to inject S$48m via convertible loan

THE purchaser, now an investor, may also at its option convert the full amount of the drawn down convertible loan of up to S$48 million into shares at a conversion price of S$0.01 apiece, conditional to conversion shareholder and regulatory approval.

SGX-backed CapBridge partners Hana Financial to extend reach in South Korea

THE tie-up will allow HFI to offer companies and investors in South Korea more access to private markets through CapBridge’s private capital eco-system.

The STI today