Daily Debrief: What happened today
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Malaysia Parliament dissolved, with elections to be held within 60 days
MALAYSIA’S Prime Minister Ismail Sabri Yaakob announced the dissolution of Parliament on Monday afternoon (Oct 10), triggering a snap general election that must be held within the next 60 days, well ahead of the September 2023 deadline.
Europe-focused S-Reits at multi-year lows, but Reit managers say their assets can withstand shocks
THE trio of Singapore-listed real estate investment trusts (S-Reits) focused on the UK and Europe – Cromwell European Reit, IReit Global and Elite Commercial Reit – have suffered the brunt of a risk-off sell-off this year, shedding between 21.6 per cent and 30.8 per cent in the year to date.
Indonesia startups starting to feel effects of universal funding slowdown
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THE region’s fastest growing startups are starting to feel the ill effects of a universal funding chill, with news of layoffs at Indonesia startups spilling out and deals starting to dry up.
Ex-GIC veteran to head Yangzijiang Financial’s investment in external funds
THE new head of fund of funds for Yangzijiang Financial will be helmed by Wu Menglin, who was previously GIC’s vice-president of private equity funds and co-investments.
Buying a home with a pricey home loan can still make sense
INTEREST rates are rising – the three-month compounded Singapore Overnight Rate Average (Sora) has soared from under 0.2 per cent per annum at the start of the year to nearly 2.2 per cent as at value date, Oct 7, 2022. A floating rate home loan that is pegged at 1 per cent plus three-month Sora will now cost around 3.2 per cent per annum.
The STI today
Singapore stocks track regional decline on Monday; STI down 1.2%
SINGAPORE stocks closed lower on Monday (Oct 10) mirroring regional declines, after a robust US jobs report last Friday dampened investors’ hope of a policy pivot by the US Federal Reserve.
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