Daily Debrief: What Happened Today

Stories you might have missed

Crypto platform Hodlnaut explores user deposit withdrawals, lays off 80% of staff

CRYPTO platform Hodlnaut says it is exploring the option of allowing users to withdraw their deposits and interest at a discounted rate, but will have to review and have the process approved by the judicial manager.

Tee International to issue new shares worth S$7.5 million, proposes debt restructuring

TEE International has entered into a conditional subscription agreement with Meta5 to issue new shares in the company worth S$7.5 million.

Higher interest rates aren’t deterring property buyers, but a lower borrowing cap could

PRICE is a function of supply and demand. Economic theory dictates that higher prices should negatively affect demand, which in turn boosts supply. For months however, Singapore’s red-hot property market has been defying such expectations.

Serangoon Garden shophouse up for sale with S$9.68m guide price

A 2-STOREY inner terrace shophouse at Serangoon Garden Way has been launched for sale at a guide price of S$9.68 million, the property’s marketing agent JKL Consultants announced on Friday (Aug 19).

As demand wanes, Asia’s export growth may slip into negative territory in early-2023

ASIA’S export growth is likely to slump from its mid-teens to the low single-digits by the end of this year, and fall into negative territory in early-2023, as demand from China, the US and Europe slows down, economists warn.

Corporate Earnings

• SingPost Q1 operating profit falls 47% on higher costs, post and parcel weakness

The STI today

Singapore stocks end week on a dour note, STI down 0.8%

LOCAL shares ended the trading week in the red, as investors took stock of inflation levels and potential hikes in interest rates in the months ahead.