Daily Debrief: What Happened Today

Stories you might have missed

Nasdaq-listed global wealth management group acquires AL Wealth Partners

HOMEGROWN multifamily office AL Wealth Partners has been acquired by Nasdaq-listed AlTi Tiedemann Global, a development that is expected to enhance its advisory services for wealthy families.

Tanjong Pagar site up for en bloc sale again at unchanged S$216 million reserve price

A COMMERCIAL site on Hoe Chiang Road and Lim Teck Kim Road will again be put up for collective sale via public tender on Wednesday (May 17), at an unchanged reserve price of S$216 million, said sole marketing agent PropNex on Tuesday.

OCBC to stop backing upstream oil and gas projects approved after 2021

SOUTH-EAST Asia’s second-largest lender, OCBC will aim to reduce by 2050, the absolute emissions for the oil and gas sector attributable to the bank by 95 per cent from its 2021 levels. It will also stop financing upstream oil and gas projects that were approved after 2021.

Vietnam firms rank higher than global average in digitalisation: DBS

MORE companies in Vietnam have adopted a “strategic, consistent or radical” approach to digitalising customer experience and engagement than the global average, according to a study by DBS.

CapitaLand Ascendas Reit to acquire Seagate facility; proposes S$450 million private placement

CAPITALAND Ascendas Real Estate Investment Trust (Clar) is planning to acquire a high-specification research and development (R&D) facility and business park property in the one-north district for S$218.2 million.

Corporate Earnings

• SIA posts record full year earnings as demand recovery pushes group to S$1.2b H2 profit

The STI today

STI closes 0.02% lower as traders digest weak China data

SINGAPORE shares closed slightly lower on Tuesday (May 16), amid choppy trading in the wake of underwhelming April macro data out of China, which refreshed concerns that the reopening optimism from the world’s second-largest economy is fading.