Daily Debrief: What Happened Today

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Singapore factory output jumps by better-than-expected 8.6% in January

BUOYED by the semiconductor boom, Singapore factory output surged in the new year, according to Economic Development Board figures released on Friday.

Singapore government expects to fund this term's spending without further draw on past reserves: Heng

THE government expects to fund expenditures for the rest of its term without a further draw on past reserves - but it is keeping open the option of doing so if the fiscal situation turns out worse than expected, said Deputy Prime Minister and Finance Minister Heng Swee Keat in his round-up speech on the third day of debate on Budget 2021.

CDL charts next steps for Sincere, hotels after S$1.92b loss

CITY Developments Limited is focusing on a new chapter of growth and transformation, having booked substantial impairment losses on Sincere Property Group, hotels and investment properties.

Petrol duty increase meant to set price signals and change behaviour: DPM Heng

RAISING the petrol duty is a move meant to set price signals and change behaviour as part of a deliberate decision to protect the environment, Deputy Prime Minister Heng Swee Keat said.

Decline in services revenue in Singapore eases to -7.9% in Q4

THE decline in service businesses' revenues eased in the fourth quarter of 2020, according to data from the Department of Statistics' (Singstat) Business Receipts Index on Friday.

Global chip shortage should buoy Singapore factory output in H1 2021, watchers say

THE global chip shortage helped to boost a low-base effect, taking Singapore's factory output to a better-than-expected surge in the new year.

Corporate earnings

• Olam to list food ingredients business by 2022; reports S$87m H2 loss
• China Aviation Oil posts 27.6% drop in H2 profit to US$32.6m
• Sasseur Reit posts 18.8% rise in Q4 DPU to 1.935 S cents
• Centurion sinks into the red with S$3.8m net loss for H2 FY2020
• First Resources posts 5.8% lower H2 net profit after booking expected credit losses

The STI today

Asian markets dip on Friday; STI ends 0.82% lower

ASIAN markets ended the week in the red, as rising US Treasury bond yields stoked inflation fears and caused a sharp overnight fall in Wall Street technology shares.