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Singapore Wrap Friday
Singapore's industrial production in August fell seven per cent from a year earlier, due to weakness in areas such as electronics and marine and offshore engineering output.
Singapore's housing market could shift towards oversupply from 2016, with prices bottoming out in 2018/19 due to record-high supply, tight immigration policies and rising interest rates that dampen demand, BNP Paribas said in a report.
The Competition Commission of Singapore (CCS) is seeking feedback on wide-ranging changes to guidelines and processes, including proposals for an enforcement fast-track and tweaks to the leniency framework.
Giving an update on a civil complaint filed against its Beijing subsidiary by China National Decoration (CND), Tung Lok on Friday said CND has lodged an application document to the People's Court of the City of Beijing to increase the late payment penalty it is asking for from two million yuan (S$446,000) as previously filed to nine million yuan.
Frasers Hospitality is scaling up its hotel-residences brand in both Europe and Asia-Pacific in view of strong global demand for the hybrid offering that combines the full range of hotel facilities with the flexibility and conveniences of full serviced residences.
MyRepublic, an upstart broadband provider in Singapore, has attracted S$23 million in capital, including investment from Brunei's leading telecommunications provider, DST, a major investor in the current round.
The STI Today
There were four trading days in this holiday-shortened week, three of which ended with the Straits Times Index in the red.