Daily Debrief: What Happened Today

Stories you might have missed

South-east Asia palm oil stocks battle lower revenue, earnings amid weakening CPO prices

REGIONAL palm oil players took a hit from weakening crude palm oil (CPO) prices in the first quarter of the year ended March, with several reporting a decline in revenue and net profit figures. Market watchers warned that these troubles could continue in the second half of the year, amid weaker industry dynamics.

Collaborating on R&D might be worth the risks of competition

WHEN enhanced tax deductions for research and development (R&D) were announced in Singapore’s Budget this year, not many small and medium-sized enterprises (SMEs) may have been excited.

More SMEs outsource backend roles amid rising business costs, labour shortages

TO CUT costs and tackle a manpower shortage, Singapore’s small and medium-sized enterprises (SMEs) are increasingly outsourcing backend business functions – or entire departments – such as IT support and payroll processing, service providers said.

Manulife US Reit to sell Phipps Tower; exclusivity period for Mirae lapses

MANULIFE US Real Estate Investment Trust (Manulife US Reit) has entered into a letter of intent to sell Phipps Tower in Atlanta, Georgia, to The Manufacturers Life Insurance Company.

Malaysia’s digibanks a disruptor but will also bring collaboration opportunities

WHILE Malaysia will soon have five digital banks in operation in the coming months, industry observers said these newcomers are unlikely to replace traditional lenders any time soon.

Corporate Earnings

• PropertyGuru cuts Q1 losses to S$10.2 million

The STI today

Singapore shares fall amid fears of further rate hikes; STI down 0.1%

THE Straits Times Index (STI) fell 0.1 per cent or 3.87 points to 3,214.21 on Wednesday (May 24), amid fears of further rate hikes.