SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. Ong Beng Seng, Wheelock Properties move to buy out HPL. The consortium has agreed to buy a 41.91 per cent stake in HPL and make a takeover offer for the rest of the shares, at $3.50 per share in cash.
2. CapitaLand, CapitaMalls Asia shares jump after takeover offer. Shares of CapitaLand jumped as much as 20 cents to $3.12 and CapitaMalls Asia leapt as much as 40 cents to $2.21 on Tuesday morning, after CapitaLand offered to buy out CapitaMalls Asia for $3.06 billion on Monday.
3. Asian shares mixed after Wall Street bounce. Tokyo, Sydney, Seoul and Singapore rose thanks to better-than-expected US retail sales data, but Hong Kong and Shanghai lagged the regional uptrend ahead of Chinese growth figures that are forecast to show a further slowdown in the economic giant.