Daily Debrief: What Happened Today

Stories you might have missed

Ravi Menon to continue as MAS chief for two more years

THE Monetary Authority of Singapore (MAS) has reappointed Ravi Menon as managing director for two more years, it said on Friday (May 12).

Malaysia’s Q1 GDP growth beats forecasts at 5.6%, but momentum could slow as exports weaken

MALAYSIA’S economy grew more than expected in the first quarter of 2023, anchored by firm domestic demand. But with the bleak external outlook set to hurt exports, economists expect growth to moderate in coming quarters.

Crossing the tech chasm in preventive healthcare

FOR the first time in seven years, entrepreneurs Kenneth Lou and Chew Tee-Ming were free to work on whatever they wanted.

AirAsia Superapp and Foodpanda to partner for more app offerings

AIRASIA Superapp will partner delivery provider Foodpanda to leverage each other’s strengths and provide a wider range of services for their users in South-east Asia and beyond, according to a joint announcement on Friday (May 12).

Seatrium undertakes ‘holistic’ business review; net order book hits S$20 billion

OFFSHORE and marine (O&M) stalwart Seatrium, formerly known as Sembcorp Marine, whose net order book crossed S$20 billion in the first quarter, is not “leaving any stones unturned” in its strategic review that is set to be wrapped up by end-year, said its top executive.

Corporate Earnings

• SBS Transit Q1 net profit up 1.9% as ridership further improves
• Genting Singapore Q1 earnings more than triple to S$129.2 million amid travel recovery
• Golden Agri Q1 profit falls 51% to US$92 million on normalised crude palm oil prices
• Bumitama Agri Q1 profit falls 51% to 429.1 billion rupiah
• Asian Pay TV Trust Q1 net profit down 41% to S$7.1 million

The STI today

Singapore stocks end the week lower amid rising global uncertainty

SINGAPORE stocks ended the week lower on Friday (May 12), amid rising uncertainty in global markets and renewed fears of a global economic slowdown.