Daily Debrief: What Happened Today

Stories you might have missed

Condo resale prices fall for the first time in over two years; transactions dip 22.6% in January: SRX, 99.co

RESALE prices of private condominiums dropped for the first time in 28 months, as prices slipped in the city fringe and suburban areas, and dragged on overall prices in January.

Singapore services receipts growth slows to 10.9% in Q4 2022

SINGAPORE’S services industries recorded a 10.9 per cent year-on-year rise in business receipts in the final quarter of 2022, easing from the revised 15.9 per cent growth rate in Q3, data from the Department of Statistics (Singstat) indicated on Monday (Feb 27).

Tightening access to lower-skilled foreign workers more likely to improve job outcomes for locals: MOM

TIGHTENING access to lower-skilled foreign workers is more likely to improve employment outcomes for locals, compared with tightening access to higher-skilled foreign workers, Manpower Minister Tan See Leng said in Parliament on Monday (Feb 27).

SportSG, Dow apologise for shoe-recycling lapse, say process chain ‘vulnerabilities’ caused it

USED sport shoes donated for a recycling programme involving national sports agency Sport Singapore (SportSG) and US petrochemical giant Dow ended up in Indonesian shops and other places, due to “vulnerabilities in the process chain” involving a subcontractor.

Skinny yields on prime office buildings may not be sustainable

SINGAPORE’S office property market enjoyed a strong run in 2022. But capital values of office buildings here could come under pressure because of high interest rates.

Corporate Earnings

• Olam H2 profit falls 24.5% on higher net financing costs
• Raffles Medical H2 profit rises 87.5% to S$83.8 million
• Hot stock: AEM falls to over 2-year low after H2 results release

The STI today

Singapore stocks track Wall Street losses; STI down 0.6%

SINGAPORE shares closed lower on Monday (Feb 27), tracking losses on Wall Street from last week.