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Singapore Wrap Tuesday
Today's notable stories
- Noble founder raises stake as Standard & Poor's maintains rating
Noble Group's chairman and founder raised his holding in Asia's biggest commodity trading house as Standard & Poor's said the company's credit rating was unaffected by criticism over its accounting practices.
- Micron starts work on US$4b NAND capacity expansion in Singapore
Semiconductor giant Micron Technology on Tuesday started off the expansion of its Singapore NAND flash memory fabrication facility - in which it expects to invest a total of US$4 billion - with a groundbreaking ceremony.
- Resorts World Sentosa seeks S$2.25b of bank loans
Genting Singapore's Resorts World Sentosa plans to raise S$2.25 billion of bank loans, Bloomberg reported, citing sources familiar with the deal.
- Frasers Centrepoint sells S$700m perpetual bond issue
Not only is Frasers Centrepoint's perpetual bond issue the first perpetual deal for 2015, it is a whopper at S$700 million.
- Singapore, Malaysia, Thailand to streamline cross-border prospectus review process
Singapore, Malaysia and Thailand have agreed to develop a review framework for offering documents and pave the way for cross-border equity and stock offerings in South-east Asia.
- Singapore: Banks, Jardine push STI up in mixed-to-weak session
Possibly in response to Wall Street's Monday jump that took the Dow Jones Industrial Average and S&P 500 to all-time highs, the Straits Times Index rose 18.22 points or 0.5 per cent to 3,422.11 on Tuesday to go with Monday's 1.03 points rise. This brings its two-day gain to 19 points after falling 38 points on Thursday and Friday last week.