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Singapore Wrap Monday
Credit rating agency Fitch Ratings said that Singapore's top-notch AAA country credit rating is not in doubt, though longer-term pressures it shares with other advanced economies remain.
Singaporean workers today are anxious about their retirement prospects, and concerned that their existing planned retirement income can replace only a small share of their pre-retirement income, according to a study on retirement attitudes and expectations in East Asia.
ARA Asset Management on Monday said it has successfully raised US$325 million in capital commitments for its private real estate funds division.
DBS Group Holdings, Singapore's biggest lender, said on Monday it would slowly wind down its Islamic banking unit as it failed to achieve economies of scale.
The STI Today
The Straits Times Index on Monday drifted to a 16.56 points loss at 2,871.47 ahead of the US Federal Open Markets Committee meeting this week at which an interest rate hike could be announced.