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Singapore Wrap Thursday
Today's notable stories
- A*Star garners S$380m in R&D investment
Mission-oriented R&D (research and development) by A*Star has resulted in more than S$380 million in industry investment for more than 1,700 projects in the first nine months of fiscal 2014. According to the agency, by the end of the current fiscal year on March 31, the number of projects will jump to more than 2,000 and the investment number will be revised upwards.
- Lee Kuan Yew remains critically ill: PMO
Former prime minister Lee Kuan Yew remains critically ill in the ICU, a statement from the Prime Minister's Office said on Thursday.
- Motor insurers post record underwriting profit of S$149.5m in 2014
Singapore motor insurers stayed in the black for a fourth consecutive year in 2014 and delivered a record underwriting profit of S$149.5 million, up 153 per cent from a year ago.
- MAS fines former UOB Kay Hian remisier S$157,000 for false trading
The Monetary Authority of Singapore (MAS) on Thursday said it has taken civil penalty action against ex-remisier Tan Hua Ann for false trading under Section 197(1)(b) of the Securities and Futures Act (SFA) - a move that netted him S$62,723.
- Singapore Feb consumer prices set to fall for fourth month: Poll
Singapore's consumer prices probably fell in February from a year earlier for the fourth consecutive month, even though the decline was less than in the previous month due to holiday effects, a Reuters poll showed.
- Singapore: Fed statement helps push STI higher
Wall Street rallied after an apparently market-friendly statement by the Federal Open Committee on interest rates and the Straits Times Index followed - after having lost 14 points on Tuesday and Wednesday, the STI on Thursday rebounded 24.41 points or 0.73 per cent to 3,386.16. Most observers felt it was mainly short-covering. Whatever the case, the advance-decline score was a very mixed 229-230 excluding warrants and volume was about average at 1.2 billion units worth S$1.2 billion.