Daily Debrief: What Happened Today

Stories you might have missed

Growth in Singapore’s AUM due mostly to institutional investors, not high-net-worth individuals

INSTITUTIONAL investors account for the bulk of the increase in Singapore’s assets under management (AUM) in recent years, said Minister of State for Trade and Industry Alvin Tan in Parliament on Wednesday (May 10), responding to questions about wealth inflows into Singapore.

Property developers brace for surge in compliance work with new anti-money laundering rules

PROPERTY developers are gearing up, ahead of an impending surge in compliance work they face, to comply with new rules the Urban Redevelopment Authority (URA) has put in place to tackle money laundering and terrorism financing in real estate.

Asean must press on with regional integration in increasingly troubled world: PM Lee

ASEAN must press on with its regional integration efforts – whether in economic collaboration or cooperation in transnational issues – amid an increasingly troubled global environment, said Singapore Prime Minister Lee Hsien Loong on Wednesday (May 10).

Sembcorp says no definitive deal to sell waste management unit; stock hits 8-year high

SHARES of Sembcorp Industries hit an eight-year high on Wednesday (May 10), after the group said there is no definitive deal to sell its waste management unit.

Cybersecurity outfit SquareX raises US$6 million in seed capital from Sequoia

SQUAREX has raised US$6 million in a seed round led by Sequoia Capital South-east Asia, the cybersecurity software and solutions company announced on Wednesday (May 10).

Corporate Earnings

• OCBC profit up 39% for Q1 to record S$1.9 billion
• Sasseur Reit Q1 DPU up 1.5% to S$0.01849 after retention

The STI today

Singapore stocks flat amid cautious trading on inflation concerns

SINGAPORE stocks ended largely flat on Wednesday (May 10), as investors remained cautious ahead of the release of US inflation data.