Daily Debrief: What Happened Today

Sembcorp sells commercial construction business to Chip Eng Seng for S$49.9m

Sembcorp Industries has signed an agreement to sell the commercial construction business under its subsidiary to Chip Eng Seng Corp's unit for about S$49.9 million, both mainboard-listed firms said in separate bourse filings on Wednesday.

Rex unit gets regulatory nod to acquire 30% stake in two Norwegian Sea licences

Rex International said on Wednesday that its unit Lime Petroleum AS has received regulatory approval to acquire a 30 per cent interest each in two Norwegian Sea drilling licences from DEA Norge.

New ride-hailing players boost Singapore drivers' earnings, cut fares: NUS study

Healthy competition in Singapore's ride-hailing market has been beneficial to both drivers and riders over the past year, according to research findings by the National University of Singapore (NUS) released on Wednesday.

Utico to open Singapore office as part of regional growth plan

Middle Eastern full-service utility provider Utico is looking to enter Singapore with an upcoming project development, operations and marketing office in the city-state.

VibroPower proposes S$1.8m rights cum warrants issue to fund business expansion

Watch-listed VibroPower Corporation is looking to issue up to S$1.8 million of shares with warrants on a renounceable, non-underwritten basis, mainly to finance the expansion of its businesses, it said in a filing late on Tuesday night.

The STI Today

Singapore shares slump 1.4% after US manufacturing data shock

Two sessions into the month and market sentiment has already greatly whipsawed, with the local benchmark more than erasing Monday's gains as investors were jolted by US recession fears after August factory activity hit levels not seen since June 2009.