Daily Debrief: What Happened Today

Stories you might have missed

Shopee set for another round of layoffs

E-COMMERCE platform Shopee is axing more employees as its parent company Sea strains under the pressure to turn profitable amid volatile market conditions.

Oxley Garden tries for en bloc again at unchanged S$200m minimum price

OXLEY Garden has been jointly relaunched for sale by tender by real estate agencies JLL and Brilliance Capital at a minimum price of S$200 million, unchanged from its earlier en bloc attempt’s asking price.

Privatisation offers continue, but shareholders increasingly discerning

WEAK market sentiment and depressed stock market valuations are motivating substantial shareholders to take Singapore-listed companies private, with 10 such deals announced this year – continuing a multi-year trend. But as the impact of Covid-19 wanes, the market is showing signs of resisting offers that are particularly opportunistic.

Total outstanding debt arranged locally grows by 8%: MAS

SINGAPORE’S debt market registered a steady growth in 2021 as total outstanding debt arranged by financial institutions in Singapore rose by 8 per cent to S$523 billion, as compared with S$484 billion in 2020.

Build more exec condos and expand the pool of eligible buyers

THE tender for an executive condominium (EC) site at Bukit Batok West Avenue 5, which closed last week, drew a top bid from City Developments Limited (CDL) of S$336 million or S$626 per square foot (psf) per plot ratio. CDL’s top bid was just 0.2 per cent ahead of the next highest bid.

The STI today

Singapore stock market starts trading week with 0.4% loss

STOCK markets in Asia extended last week’s rout on Monday (Sep 19), as investors remain cautious over concerns of another outsized rate hike by the United States Federal Reserve this week.