Daily Debrief: What Happened Today

Stories you might have missed

MAS to commit S$150m for FSTI scheme over next 3 years; to consult on ending corporate cheques by 2025

THE Monetary Authority of Singapore (MAS) will provide a third tranche of funding for the Financial Sector Technology and Innovation (FSTI) scheme with a fresh commitment of S$150 million for the next three years, Deputy Prime Minister (DPM) Lawrence Wong announced on Wednesday (Nov 2).

Maybank downgrades outlook on Singapore tech sector to ‘neutral’; Venture still top pick

MAYBANK Securities has downgraded its call on Singapore’s technology sector to “neutral” from “positive” in the face of economic headwinds and an “uncertain” outlook for FY2023.

Reflections at Keppel Bay owner resells unit for S$6.6m higher - just one year on

THE seller of a 7,050 square foot (sq ft), 40th floor unit at 99-year-leasehold Reflections at Keppel Bay divested the unit for some S$6.6 million more in the space of about a year, making the deal the largest profit-maker by quantum in the secondary market in the third quarter this year.

Cost of construction materials to moderate in Q4: Linesight

CONSTRUCTION prices appear to be tapering off from its earlier volatility in the first half of the year, given a conservative outlook on the sector in the coming months.

More flights handled don’t equate to faster recovery in profitability, SIA Engineering says

WHILE carriers have mounted more flights as travel resumes, the higher flight activity level does not translate into the same level of financial recovery for maintenance, repair and overhaul service provider SIA Engineering.

Corporate Earnings

• Great Eastern Q3 net profit up 30%

The STI today

Singapore stocks claw back losses ahead of Fed rate hike decision; STI up 0.3%

SINGAPORE shares closed higher on Wednesday (Nov 2) on late buying after spending all day underwater following overnight losses on Wall Street.