Daily Debrief: What Happened Today

Stories you might have missed

SBF calls for finer-grained treatment of services in foreign manpower policy, more source countries

THE Singapore Business Federation (SBF) is calling for a more nuanced approach in classifying business activities in the wide-ranging services sector, to allow for more differentiation in foreign manpower policy.

Singapore life insurance sales slide 2% to S$1.21b in Q1

SINGAPORE’s life insurance industry saw a 2 per cent dip in weighted new business premiums to S$1.21 billion in the first quarter of 2022, from S$1.23 billion in the year-ago period.

Singapore facing taxi shortage as pandemic restrictions lifted

PRIVATE-HIRE and taxi companies in Singapore are rushing to attract more drivers to meet surging passenger demand after the city-state dropped most of its pandemic-era curbs.

Sinarmas Land to purchase London office asset for £195m

A SUBSIDIARY of mainboard-listed Sinarmas Land has agreed to purchase a freehold prime commercial building in London for some £195 million (S$334 million) from LS London Holdings One.

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Daily Debrief: What Happened Today

VC firm East Ventures closes US$550m fund for startups targeting Indonesia

VENTURE capital (VC) firm East Ventures on Tuesday (May 10) closed its latest fund for startups targeting Indonesia at US$550 million.

Corporate Earnings

• Marco Polo Marine H1 profit rises 82% to S$10.8m as operations improve
• Frasers Property H1 profit down 42.6% to S$158.2m due to previous one-off gain
• Cromwell E-Reit Q1 distributable income up 7.1% to 23.3m euros
• Palm oil producer Bumitama Agri’s Q1 profit surges to 873b rupiah on higher output, margins
• CapitaLand Investment Q1 revenue up 16% to S$598m on growth in fund, lodging management units
• ecoWise reports variances in H1 FY2021 results, to expand scope of internal audit
• Daiwa House Logistics Trust posts 0.8% rise in Q1 DPU to S$0.0131
• Sasseur Reit posts 3.6% rise in record Q1 DPU to S$0.01822; CEO optimistic about debt refinancing prospects

The STI today

Singapore stocks dive on US inflation worries; STI tumbles 1.9%

THE Straits Times Index (STI) fell 1.9 per cent or 60.89 points to close at 3,165.18 on Thursday (May 12), as Asian markets tumbled on inflation fears following the release of US consumer price index (CPI) data.