Daily Debrief: What Happened Today (Jul 2)

Stories you might have missed

MAS proposals a step forward in ‘democratising’ investing, ‘strikes right balance’: observers

[SINGAPORE] The Monetary Authority of Singapore’s (MAS) proposals to strengthen product highlights sheet (PHS) requirements and streamline the framework for complex products signal a major shift in the local investment landscape, say market observers.

Chinese tourists crown Vietnam, sideline Thailand

[SINGAPORE] Chinese tourists are reshaping travel trends in South-east Asia, with Vietnam and Malaysia gaining ground while Thailand, the traditional hot spot, is seeing visitor growth stall amid currency swings, safety concerns and China’s economic headwinds.

Del Monte Foods files for bankruptcy; SGX-listed parent has over US$700 million exposure to US unit

[SINGAPORE] Del Monte Pacific (DMP) is expected to take a body blow from the failure of its US unit as the latter accounts for a big chunk of its operations.

Singapore, Cambodia solidify joint efforts in energy, climate finance, agri-trade

[SINGAPORE] South-east Asian neighbours Singapore and Cambodia intend to continue advancing shared interests in renewable energy trade, high-quality carbon markets, agri-trade and in bolstering Asean centrality.

Ong Beng Seng’s case back to Jul 8 pre-trial conference; previously meant to plead guilty on Jul 3

[SINGAPORE] Property tycoon Ong Beng Seng, who was expected to plead guilty on Jul 3 in a case involving former transport minister S Iswaran, has had his court hearing adjourned.

Cathay Cineplexes gets S$3.4 million payment demand from landlord of shuttered Jem outlet

[SINGAPORE] Embattled cinema chain Cathay Cineplexes on Tuesday (Jul 1) received a statutory demand from lawyers representing the landlord of its shuttered outlet at Jem shopping mall, asking that it pay up arrears of around S$3.4 million before the end of the month.

Singapore’s STI hits new high as investors flock to safe havens amid global risks

[SINGAPORE] The Straits Times Index (STI) notched a new record of 4,011.78 points on Wednesday (Jul 2) as Singapore draws a rush of investors seeking safe havens from geopolitical risks.