AVIATION, MARKETS & INVESTING | Staff Reporter, Singapore

Daily Briefing: Bitcoin falls below US$6,000; Singtel delivers stable dividends

And here's GIC's latest $92.6m investment.

From AFP via Yahoo! News:

Bitcoin plunged more than 20 percent to fall below US$6,000 on Tuesday, its latest sharp loss following a series of setbacks, with a global stock market collapse fuelling the selling.

The virtual currency fell to $5,992 for the first time since mid-November, according to Bloomberg News, the latest hammering for the cryptocurrency that saw a stratospheric 26-fold rise last year.

Tuesday's collapse comes just six weeks after bitcoin hit a record high of US$19,511, fuelled by a flood of speculators looking to make a quick buck.

Read more here.

From The Motley Fool:

A company’s business track record will mean little to dividend investors, unless it also pays its profits as dividends to its shareholders.

Singtel has done well on the dividend-front. The company has grown its annual dividend from 16.8 cents per share in FY2013 to 17.5 cents in FY2017. What’s more, the dividend has been maintained at less than 77% of its earnings in that period, which indicates sustainability in the payouts.

Read more here.

From Deal Street Asia:

Singapore’s sovereign wealth fund GIC has injected 100b won ($92m) into Korean retail major E-Land Group, according to South Korean media reports. The round was part of a 200-billion won investment led by Hong Kong-based Anchor Equity Partners.

E-Land Group is a South Korean conglomerate headquartered in Seoul which has business interests in retail malls, restaurants, theme parks, hotels and construction businesses. Its cornerstone business line is fashion apparel business.

Read more here.

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