1.Financial market turbulence in China and software problems have prompted Deutsche Boerse to delay its planned Asian derivatives exchange and clearing house by about 18 months, Reuters reported, quoting sources.
2.Intercontinental Exchange (ICE), which also owns the New York Stock Exchange,is set to launch its Singapore futures and clearing house on Nov 17. ICE said it expects to trade and clear five new contracts in its first tranche.
3. China's Tencent has overtaken Alibaba as Asia's largest Internet firm. E-commerce giant Alibaba has seen its market value slip by US$140 billion (S$198 billion) in the past 10 months.
4. A-Reit has completed the divestment of BBR Building to BBR Holdings. The sale price of $13.9 million is more than double the original purchase price of $6.8 million in 2005. The building is on Changi South Street 1.
5 Heeton Holdings expects to receive net proceeds from its rights issue of about $43.6 million, with 90 per cent earmarked to repay borrowings. The rest is to finance investments and acquisitions and general working capital.