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Daily Debrief: What Happened Today
THE iconic Eu Yan Sang Building in Chinatown has been launched for sale with a guide price of S$62.5 million, the property’s exclusive marketing agent JLL said on Monday. Built in 1910, it housed the first traditional Chinese medicine Eu Yan Sang outlet in Singapore set up by its founder Eu Tong Sen. The building was designed by architect Alfred Bidwell from the firm Swan & Maclaren, whose other best-known works include Raffles Hotel and the Victoria Memorial Hall.
JOB seekers in Singapore are looking to get a 17 per cent bump in pay when they switch jobs, after averaging across industries and levels, said a report by RGF International Recruitment. Its survey found financial compensation to be the driving factor for 61 per cent of job seekers in Singapore, with 83 per cent of respondents saying they expect a salary increase.
INSURER Great Eastern (GE) and Singapore-based healthtech startup Doctor Anywhere have partnered to launch health and wellness tech services for GE’s corporate customers. The first of these services will be on-demand video consultations with Singapore-registered doctors, GE said in a media statement on Monday.
FINTECH startup soCash is gearing up to grow its Asian distribution network after raising US$6 million in Series B funding, it announced on Monday. The funding round was led by Japan’s Glory Ltd, and participated by global venture capital fund network Vertex Ventures as well as Standard Chartered Bank’s innovation, investment and ventures arm, SC Ventures.
IF the leverage limit for Singapore real estate investment trusts (S-Reits) is raised above the current 45 per cent, debt markets can no longer take a "broad-brush" approach and assume S-Reits are "low-risk". Instead, Reits need to be assessed on a case by case basis as the financial discipline of their managers is crucial, said OCBC’s analyst.
The STI today
THE Singapore stock market started the week on the back foot with the Straits Times Index (STI) down 0.61 per cent, in response to signals of a smaller US interest rate cut later this month.