Daily Debrief: What Happened Today (May 5)

Stories you might have missed

OCBC’s Indonesia deal boosts wealth push, may herald more M&A under new CEO Tan Teck Long: analysts

[SINGAPORE] OCBC’s latest Indonesian acquisition is expected to strengthen its fee income base and expand its wealth franchise in South-east Asia’s largest economy, as pressure on lending margins pushes banks to diversify earnings.

MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

[SINGAPORE] The Monetary Authority of Singapore (MAS) has convened the chief executives of major financial institutions to discuss the threat posed by AI-enabled cyberattacks, as frontier AI models capable of autonomously identifying and exploiting software vulnerabilities grow more sophisticated.

Is it time to scrap COE categories for cars? 

[SINGAPORE] On Mar 4, Acting Minister for Transport Jeffrey Siow announced that a review of the Certificate of Entitlement (COE) system is now taking place.

Singapore retail sales grow 4.8% in March, but cool from Chinese New Year-driven February surge

[SINGAPORE] Retail sales in Singapore rose 4.8 per cent year on year in March this year, slowing from the 8.3 per cent surge in February as the boost from Chinese New Year seasonal demand faded, data from the Department of Statistics showed on Tuesday (May 5).

South-east Asia risks missing global chip boom as fab investments bypass region

[KUALA LUMPUR] South-east Asia risks being left out of the global semiconductor manufacturing boom unless it moves faster to build front-end capabilities, industry leaders warned, as billions of dollars in new chip plants are set to come online elsewhere.

DBS, RHB raise Sheng Siong target prices on expansion runway, CGSI holds steady

[SINGAPORE] Supermarket operator Sheng Siong’s robust first-quarter results have prompted analysts at DBS Group Research and RHB to raise their target prices, driven by an improved margin outlook and a fertile environment for store expansion.