Daily Debrief: What Happened Today

Stories you might have missed

Venture funding in Singapore weakens in 2022

THE amount of venture capital funding raised by Singapore-headquartered tech companies dipped last year, as investors turned cautious amid an uncertain macroeconomic climate.

Low-wage platform workers to get 75% offset of additional CPF contributions for first year

LOW-WAGE platform workers who make additional Central Provident Fund (CPF) contributions will have 75 per cent of this increase offset by the government, for the first year after contribution rates start to rise.

Asean an investment hotspot, and Indonesia is a ‘sitting jackpot’: UOBAM

WHEN it comes to investment opportunities, Asean is in a “very sweet spot”, with Indonesia – home to five out of the seven key minerals needed for electric-vehicle (EV) batteries – “a sitting jackpot”, speakers said at UOB Asset Management’s (UOBAM) annual investment outlook conference.

Employers must give proof of EP applicants’ educational qualifications under Compass framework

FROM September, employers must submit proof of Employment Pass (EP) applicants’ educational qualifications to score the relevant points under a new assessment framework, Minister for Manpower Tan See Leng said on Wednesday (Mar 1).

Grab’s cash-advance scheme deemed to have sufficient safeguards: MinLaw

GRAB’S new cash-advance scheme for its drivers and riders has been assessed by the Ministry of Law (MinLaw) to be a safe source of credit with sufficient safeguards, Senior Parliamentary Secretary for Law Rahayu Mahzam said on Wednesday (Mar 1).

Corporate Earnings

• Bumitama Agri H2 profit falls 47.7% to 647.4 billion rupiah
• First Resources net profit rises 53.4% in H2 to US$197.2 million; S$0.12 dividend proposed
• Yangzijiang Financial H2 profit down 80% on allowance for credit losses

The STI today

Singapore shares end lower on inflation concerns; STI falls 0.2%

SINGAPORE shares ended lower on Wednesday (Mar 1), tracking overnight losses on Wall Street amid rising concerns of persistent inflation.