Daily Debrief: What Happened Today (Feb 2)

Stories you might have missed

DBS to merge treasury markets, equity capital markets, brokerage and digital exchange

DBS on Friday (Feb 2) said it will merge its treasury markets business with equity capital markets, brokerage DBS Vickers and DBS Digital Exchange (DDEX). The organisational changes come in tandem with the retirement of Eng-Kwok Seat Moey, DBS’ group head of capital markets, who is stepping down after 36 years with the bank.

CapitaLand Ascott Trust to sell Citadines property for S$148 million

CAPITALAND Ascott Trust (Clas) is divesting Citadines Mount Sophia Singapore for S$148 million in a deal that is estimated to complete in the first quarter of 2024. On Friday (Feb 2), its managers said the consideration is 19.4 per cent above the 154-unit serviced residence’s book value as at end-2023.

Novo Tellus to pay redemption price of about S$5.184 for Class-A shares

NOVO Tellus Alpha Acquisition (NTAA) will pay a S$5.1839071 redemption price per Class-A share, the special-purpose acquisition company (Spac) said on Friday. The payment of the redemption amount, which will be rounded down to S$5.18, will be made on Feb 21 or around that date, after the record date on Feb 13.

MAS seeks to reduce client information collected by financial institutions for some insurance products

THE Monetary Authority of Singapore (MAS) is seeking to cut down on the amount of information that financial institutions need to collect from their clients for certain insurance policies.

Giving birth to luxury post-partum confinement services

BIRTH rates have fallen steadily to record lows in Singapore. In spite – or perhaps, because – of this, demand for post-partum confinement services has shot through the roof. The traditional practice of seclusion or special treatment following childbirth can be traced as far back as biblical times, and varies across cultures.