Daily Debrief: What Happened Today

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MAS to directly lend to banks at near-zero cost, pumping cheap credit to SMEs

THE Monetary Authority of Singapore (MAS) will directly step in to lend Singdollars at an interest rate of 0.1 per cent per annum to eligible financial institutions, which will in turn offer loans priced off near-zero funding cost to small and medium-sized enterprises (SMEs).

Eagle Hospitality Trust's lenders restrict bank accounts of Reit, lessees

THIS comes a month after EHT - a stapled group comprising EH-Reit and Eagle Hospitality Business Trust - received a notice of default and acceleration from Bank of America (BofA), the administrative agent for the syndicate lenders, for the loan.

Deliveroo Singapore hired 1,000 riders in April amid food delivery surge during Covid-19

FOOD delivery platform Deliveroo Singapore on Monday said it added about 1,000 riders to its delivery fleet in April alone and expects to hire another 2,000 riders by the end of the second quarter.

OCBC to disburse S$1b in government-assisted SME loans to small businesses by June 30

OCBC on Monday said it expects the amount of government-assisted loans it lends out to small businesses to hit S$1 billion by June 30, fully utilising the support given by the Monetary Authority of Singapore (MAS) under its low-cost Singapore-dollar facility.

Singapore's temporary relief provisions for Covid-19 kick in April 20

THE law provides protection from certain legal actions against those unable to fulfill certain obligations due to the outbreak, such as tenants being unable to pay rent or events at hired venues being unable to proceed.

The STI today

STI ends down 16.75 points or 0.64 per cent to 2,597.85

THE Straits Times Index (STI) closed down 16.75 points or 0.64 per cent at 2,597.85 on Monday, snapping two days of consecutive gains as traders readied for a week of sense-checking as Singapore corporates head into the first-quarter earnings season, led by the Reits.