Daily Debrief: What Happened Today

Stories you might have missed

Coastal Oil ex-employees charged with cheating Singapore, HK banks of over US$340m

TWO former employees of crude oil products supplier Coastal Oil Singapore were charged in court on Friday for allegedly cheating eight banks in Singapore and Hong Kong of more than US$340 million, according to court documents seen by The Business Times on Friday.

Singapore Grand Prix taken off the grid this year

SINGAPORE'S Formula One race this year will be cancelled, after the Covid-19 pandemic put the brakes on construction activity and prompted restrictions on crowds.

OCBC's private banking unit targets bigger slice of booming family offices business

BANK of Singapore, the private banking arm of lender OCBC, plans to grab a bigger share of the fast-growing family office business by expanding its investment products and targeting clients outside the region, its chief executive officer said.

Hyflux suitor Utico says two parties eyeing its shares

TWO interested parties are looking to acquire shares in Utico, and if successful, the deal could value the United Arab Emirates-based utilities group at up to US$1.5 billion.

Singapore electronics firm wins government contract for contact-tracing devices

PCI, a Singapore electronics firm backed by Platinum Equity, has won a government contract to manufacture an initial batch of wearable contact tracing devices, as Singapore seeks to contain the spread of the virus amid a nationwide reopening.

Harry Elias parts ways with global legal giant

FOLLOWING a three-year merger, Singapore law firm Harry Elias Partnership and global international law firm Eversheds Sutherland will part ways on June 30, the parties announced on Friday.

Corporate earnings

The STI today

STI 0.72% lower for the day, 2.43% down for the week

AS CONCERNS mount over a second wave of the virus and a slow economic recovery in the United States, stock markets went the opposite direction - down.