Retail sales in Singapore rose 2.7 per cent in October compared to the previous year, but without the boost from car sales, they were down 4.6 per cent, figures from Singapore Department of Statistics showed on Tuesday (Dec 15). Sales of motor vehicles in October shot up 61.8 per cent year-on-year, and were 7.9 per cent higher than in September.
Developers sold 759 private non-landed homes in November, up 39 per cent from 546 sold in October. Last month's sales were about 79 per cent higher than the 423 units moved in November 2014. A total of 734 units were launched last month.
Secura Group lodged its offer document on Tuesday (Dec 15) as the security firm prepares for a Catalist listing on the Singapore Exchange early next year. The company, which is 53.8 per cent controlled by Singapore billionaire Peter Lim through Kestrel Capital, provides services and products in the area of guarding and security printing - the printing of valuable items such as cheques and parking coupons.
The Singapore Exchange was named the global exchange of 2015 at the recent Futures and Options World (FOW) International Awards ceremony. Winning the award for the first time, the bourse was credited for its strong volume growth this year with trading levels rising over 60 per cent year-on-year.
Pacific Andes Resources Development said on Tuesday (Dec 14) that its executive chairman Ng Joo Siang has stepped down from his role as a director and chairman with immediate effect. He will be replaced by Ms Jessie Ng Puay Yee, who will also become a member of the nominating committee of the board.
Standard Chartered has axed at least half a dozen oil and gas advisory banking roles in recent weeks, ending an eight-year attempt to build a global energy M&A team as new CEO Bill Winters moves to rein in costs, people familiar with the matter said.
Temasek Holdings is set to acquire a controlling 72 per cent stake in India's Care Hospitals, the country's fifth largest private healthcare network, for 18 billion rupees (S$378.4 million), according to media reports. The stake will be purchased from the hospital chain's current owner, US private equity firm Advent International, said reports in the Economic Times and Times of India.
China's yuan weakened against the US dollar on Tuesday (Dec 15) after the central bank set the midpoint at its lowest level in more than four years for the second day. The People's Bank of China (PBOC) set its official midpoint rate at 6.4559 per dollar prior to the market open on Tuesday, its weakest level since July 2011, and 0.1 per cent weaker than the previous fix of 6.4495.