Daily Debrief: What Happened Today

Stories you might have missed

Singapore cannot cut land prices to tackle housing costs: Lawrence Wong

THE government cannot simply sell state land at a lower cost to bring down the price of Housing and Development Board (HDB) flats, said Finance Minister Lawrence Wong, in response to Members of Parliament (MPs) who raised concerns and proposed solutions related to public housing prices.

Singapore manufacturing recession expected to persist after Jan’s data

SINGAPORE’s manufacturing activities will likely continue to contact for at least the first quarter of 2023, economists said after monthly factory output numbers were released on Friday (Feb 24).

Latest Singapore Savings Bond less than half subscribed

THE latest tranche of Singapore Savings Bond (SSBs) allotted on Friday (Feb 24) received a total of S$261.1 million in applications, out of the S$600 million offered.

Replacing unproductive jobs is part of healthy economic growth: DPM Wong

THE continual “refreshing and updating” of jobs is to be expected in a dynamic and vibrant economy, as unproductive jobs become obsolete, Finance Minister Lawrence Wong said in his Budget debate round-up speech on Friday (Feb 24).

Credit – what is it good for?

CREDIT is becoming widely available in Singapore, with a plethora of products offered from traditional unsecured credit cards to alternative lines such as Buy Now Pay Later (BNPL).

Corporate Earnings

• OCBC’s Q4 profit up 34% at S$1.3 billion; final dividend at S$0.40
• ST Engineering’s H2 profit slips 7.1% on energy inflation, higher expenses, lower state support
• Cromwell E-Reit’s H2 DPU rises marginally to 0.08494 euro

The STI today

Singapore stocks snap 4-day losing streak; STI up 0.5%

THE Straits Times Index (STI) gained 0.5 per cent or 17.37 points to close at 3,282.30 on Friday (Feb 24), snapping a four-day losing streak in a week marked by shaky investor sentiment on US rate hike fears.