Daily Debrief: What Happened Today

Stories you might have missed

Covid-19 crisis may widen income gap in Singapore: DBS

WHILE the Singapore government has ramped up efforts to save jobs amid the Covid-19 pandemic, the full impact on income is "far deeper and broad-based" than current economic numbers would suggest, with low-income earners bearing the brunt of the prolonged slump.

Business will need 1-2 years to recover, say 60% of Singapore firms

FOR nearly six in 10 Singapore firms, business will take one to two years to recover to pre-Covid-19 levels, even as they seek new revenue sources, speed up digitalisation and innovate in products and services.

SPH restructures media sales and magazines operations, 140 jobs cut

IN a filing to the Singapore Exchange on Tuesday, SPH said that 140 staff from the media solutions division and SPH Magazines will be affected and the retrenchment costs of about S$8 million will be recognised in Q4 FY20.

Spackman Entertainment signs MOU to sell its 43.9% stake in talent agency

MAINBOARD-LISTED Spackman Entertainment Group on Tuesday entered into a non-binding memorandum of understanding (MOU) to sell its entire 43.9 per cent stake in entertainment talent agency Spackman Media Group to Spackman Equities Group for at least 27.9 million South Korean won (S$32.2 million).

Tycoon Oei Hong Leong seeks again to oust Raffles Education founder

MR OEI and his firm, Oei Hong Leong Art Museum, sent the notice requesting the mainboard-listed private education provider to convene an extraordinary general meeting (EGM) and table six resolutions for shareholders' approval.

Sabana unitholders ask sponsor to sell stake in manager, seeking regulatory guidance

A GROUP of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) unitholders is "urgently" seeking guidance and support from regulators to stop the "potential severe conflict of interest issues" that they say are resulting from ESR Cayman's controlling ownership of both Sabana Reit's and ESR-Reit's managers.

Sembcorp, PUB start construction of floating solar farm on Tengeh Reservoir

THE project will result in what is said to be one of the world's largest inland floating solar photovoltaic farms, enabling Singapore to integrate green technology with water treatment.

Corporate earnings

The STI today

STI sheds 0.3% amid continued economic toll from Covid-19

THE Straits Times Index (STI) fell 8.46 points or 0.33 per cent to close at 2,563.09 on Tuesday, as the workforce continues to feel the impact of the novel coronavirus pandemic on livelihoods.