Daily Debrief: What Happened Today (Jul 22)

Stories you might have missed

S-Reits to hit ‘turning point’ in coming quarter amid expectations of interest rate cuts

AFTER two years of declining share price performance, analysts believe that Singapore-listed real estate investment trusts (S-Reits) will hit a “turning point” in the coming quarter amid expectations of an interest rate cut by the US Federal Reserve this September.

Grab acquires local restaurant reservation platform Chope, aims to capture more diners in region

RIDE-HAILING company Grab has acquired home-grown restaurant reservation platform Chope and will take over Chope’s operations in Singapore, Indonesia and Thailand, according to an internal e-mail seen by The Business Times.

Kore obtains option to extend US$115 million term loan facility for 12 months

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THE trustee of Keppel Pacific Oak US Reit (Kore) secured an option to extend a 12-month unsecured term loan facility of US$115 million, its manager said on Monday (Jul 22).

CapitaLand India Trust completes 6.8-billion-rupee acquisition of Navi Mumbai office building

CAPITALAND India Trust (Clint) has completed the acquisition of an office building located in Navi Mumbai, India for 6.8 billion rupees (S$110 million). This increases Clint’s total completed floor area by about 4 per cent to about 21.8 million square feet, the manager said on Monday.

Singapore stocks end lower on news of Biden’s exit from US polls; STI down 0.3%

SINGAPORE stocks ended lower on Monday, after US president Joe Biden announced overnight that he would be ending his re-election campaign, and endorsed his vice-president Kamala Harris for the role.