News
Fortis Healthcare drops sale of stake in RHT Health Trust
Fortis Healthcare drops sale of stake in RHT Health Trust
Talks with interested parties fell apart.
1 in 3 bosses demoted an employee
Failure in a new role accounts for 46% of demotions.
TT International records three consecutive years of losses
It is at risk of being placed under the SGX-ST’s watchlist.
SBS Transit, SMRT Trains and ST Engineering team up to upgrade rail maintenance
They will facilitate efforts to improve electronic card repair and diagnostic support, amongst others.
ESR-REIT raises $100m from upsized private placement
The fixed issue price of $0.515 apiece was at the lower end of its $0.515-$0.525 range.
Two exclusive Good Class Bungalows in Districts 10 and 21 up for sale
The sites have a guiding price of $48m and $43.8m, respectively.
GOJEK adds DBS PayLah! to payment options
The move aims to encourage users to adopt digital payments.
Singtel revenue could be hit by government contract repricing
A potential IPO of its subsidiary Amobee may offer some reprieve.
Daily Markets Briefing: STI down 0.45%
UOB led the gains with 0.48%.
Chart of the Day: Singapore's flexible office market expanded threefold in 2013-2018
An estimated two in five office buildings have a flexible office component.
Daily Briefing: Here's how much you really get paid at Google; Discounted Rivière unit sold to Frasers Property director
And here's how Singapore is helping firms integrate persons with disability into the workforce.
Beauty World Plaza relaunches tender at $165m
It got an in-principle approval to convert the residential component to serviced apartments.
ESR-REIT JV to buy logistics property for $225m
The site will serve as Poh Tiong Choon Logistics’ corporate headquarters.
MAS slaps three-year prohibition orders against former UBS banker
Paris Michele was discovered to have falsified company emails and forged documents.
Hyflux in talks with another potential white knight from China
The potential investor is said to be a subsidiary of a state-owned enterprise that provides power services.
Banks step up buyback spree to rescue share price
Most of the buybacks by DBS were done in May, when the share price fell 14%. Singapore banks’ share buybacks have picked up steam in 2019. A Maybank Kim Eng report noted that DBS and OCBC have bought back more shares YTD and much earlier than they did last year. Maybank KE analyst Thilan Wickramasinghe expounded that DBS has bought back 25% YTD of the volume it bought in 2018. “Importantly, this was mostly done in May 2019, when its share price fell 14%. Historically, DBS was most active buying back shares in Q3/Q4,” the analyst said. Meanwhile, OCBC has bought back 60% of the volume it bought in 2018 and much earlier, the analyst added, noting that the DBS and OCBC buybacks in Q2 2019 are equivalent to 55% and 53%, respectively, of their treasury shares balances. Also read: Singapore's big banks are on a buying spree as share buybacks hit $116.5m
NODX dropped 15.9% in May
Electronic exports contracted 31.4% YoY.
Commentary
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