Daily Debrief: What Happened Today

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Hyflux lenders to restart process to put firm under judicial management

A GROUP of bank lenders is seeking to put Hyflux under judicial management (JM), after two years of a court-sanctioned restructuring process that has continued to leave creditors empty-handed.

Brazil launches administrative enforcement procedure against 5 Keppel units

THE Office of the Comptroller General of Brazil (CGU) has published a notice in the Official Gazette stating that it has initiated an administrative enforcement procedure against five Keppel subsidiaries in relation to "alleged irregularities under the Brazilian Anti-Corruption Statute".

Over 95,000 employers in Singapore to receive S$450m in wage credits by June 30

MORE than 95,000 employers in Singapore will receive over S$450 million in payouts by the end of this month under the Wage Credit Scheme, the Ministry of Finance and the Inland Revenue Authority of Singapore announced in a joint statement on Thursday.

Debt build-up sets back hopes of recovery in H2: MAS chief

THE accumulation of debt - seen in emerging markets and around the world - is likely to be the "number-one aftermath" of the Covid-19 outbreak to be dealt with from as early as next year, with expectations of a recovery in the second half of this year set to be "severely tested", said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

Singtel in consortium to build high-performance Asia-Pacific submarine cable

SINGAPORE Telecommunications (Singtel) is part of a consortium of companies that is building a high-performance submarine cable connecting the Republic, Japan, the Philippines, Thailand, Vietnam and China (Hong Kong and Guangdong province).

SIA reinstates some flights, allows transit through Singapore from Australia, New Zealand

SINGAPORE Airlines (SIA) and its regional wing SilkAir are reinstating flights to a number of cities, and ramping up frequencies for several of its existing services in June and July, the national carrier said on Thursday.

IMDA, M1, MPA to conduct coastal 5G network trials with Airbus

THE Infocomm Media Development Authority (IMDA), M1 and the Maritime and Port Authority of Singapore (MPA) on Thursday said they are partnering Airbus to conduct coastal 5G standalone (SA) network trials at the Singapore maritime drone estate.

Corporate earnings

The STI today

STI drops 3.44% with Asia's key bourses

IT WAS a sea of red for Asia's key stock indices, and Singapore's Straits Times Index (STI) was not spared. The STI dropped 3.44 per cent or 96.36 points to 2,704.21 points on Thursday.