Daily Debrief: What Happened Today
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MAS raps AIA, Prudential, Aviva entities for misconduct on sales-related bonuses
THE Monetary Authority of Singapore on Tuesday rapped major insurers for failing to meet rules that set out how supervisors should have been paid as part of sales of investment products and life policies.
Hyflux may fetch under S$200m in liquidation: source
ASSET sales in a liquidation process at Hyflux, Singapore's highest-profile distressed company, would likely bring in less than S$200 million, a person familiar with the matter said, a fraction of the amount creditors are claiming.
Singapore new private home sales fall 29.7% in May
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DEVELOPERS in Singapore sold 891 new private homes in May, down 29.7 per cent from April's 1,268, URA data showed on Tuesday.
DEBT-HIT shipping giant Ocean Tankers of Singapore's failed Hin Leong empire is set to close the sale of its lubricant plant and storage facilities in Tuas to Gulf Oil International, a unit of Indian conglomerate Hinduja.
New appointments at Bank of Singapore, Endowus and Citi
BANK of Singapore, Endowus and Citi on Tuesday announced several new hires related to wealth planning, advisory and a new business line, across various regions.
Carro eyes IPO after SoftBank-led US$360m unicorn round
USED car marketplace Carro has raised US$360 million in Series C funding led by SoftBank Vision Fund 2, which the company says gives it a valuation of more than US$1 billion.
The STI today
Singapore stocks end higher on Tuesday, STI up 0.7%
LOCAL shares advanced on Tuesday as investor optimism was boosted by news that private-sector economists further raised their full-year outlook for Singapore's gross domestic product to a growth of 6.5 per cent, up from 5.8 per cent in the March edition of the survey.
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