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Daily Debrief: What Happened Today
Changi Airport’s longtime tenant, DFS Group, is exiting its duty-free liquor and tobacco concession operations in June 2020 to make way for a new operator after nearly 40 years of business there.
A Singapore High Court has granted honestbee another month of court protection on Tuesday, so that the embattled startup can refine its application seeking a six-month debt moratorium from its creditors.
The S$7-per-share revived cash offer for steelmaker Delong Holdings is "not fair but reasonable", the appointed independent financial adviser (IFA), PricewaterhouseCoopers Corporate Finance (PwCCF), said on Tuesday morning.
Singapore's services industries are still seeing their takings rise year on year, though at a slowing pace, according to second quarter data from the Department of Statistics on Tuesday.
Singapore firms are likely to see more soured debt as the trade-reliant economy takes a hit from US-China tensions. That's the view of debt restructuring experts, for whom more bad debt could mean increased business.
The court has sanctioned the proposed merger of OUE Commercial Real Estate Investment Trust (C-Reit) and OUE Hospitality Trust (H-Trust), which will take place via a trust scheme of arrangement.
Lured by Singapore’s stable political environment and relatively strong office rentals, Hong Kong investors pumped a total of US$1.4 billion into the Republic’s real estate in the first half of 2019.
The STI Today
US and China may have moved to allay concerns that trade tensions were hitting fever pitch but investors preferred to be cautiously optimistic, taking those developments with a pinch of salt. The Straits Times Index (STI) opened slightly higher and for the most part, stayed that way to close at 3,067.52, up 2.19 points or 0.1 per cent.