Singapore's total bank lending rose in July over June on stronger demand for property loans and from the general commerce sector, but the rate of monthly growth eased, central bank data showed on Monday (Aug 31). Loans and advances by domestic banks amounted to S$610.4 billion last month, up 0.59 per cent from the S$606.8 billion in June, according to data from the Monetary Authority of Singapore.
Mainboard-listed Keppel Corp said on Monday (Aug 31) that its subsidiary, Keppel Offshore & Marine (Keppel O&M), is buying the owner of LeTourneau jackup rig designs from Cameron International Corp for US$100 million (S$141 million) in cash.
Frasers Centrepoint Ltd (FCL) said on Monday (Aug 31) that diversified property group Australand, which it acquired almost a year ago, has been renamed Frasers Property Australia and will adopt the international Frasers Property brand. The re-branding marks the completion of the integration of Australand with FCL's existing Australia business, Frasers Property Australia.
A pair of adjoining commercial shophouses, located at the heart of Chinatown, are up for sale. The shophouses, at 205 and 207 New Bridge Road, enjoy visibility and exposure along New Bridge Road and has a return frontage onto Pagoda Street, the main pedestrian street thoroughfare of Chinatown, sales agent Cushman & Wakefield said on Monday Aug 31).
As China's economic slowdown and a possible Federal Reserve interest-rate increase roils global markets, currency traders are treating the yen and the euro as havens of choice. The correlation between the yen and the euro reached its highest since early 2007 as the two currencies moved in tandem - - rising and falling - amid last week's global stock rout.
Japan's Toshiba Corp delayed announcing its annual financial results on Monday, saying it had found more accounting errors after disclosing a US$1.2 billion (S$1.68 billion) book-keeping scandal. Toshiba, which was scheduled to post its earnings for fiscal 2015, said the newly discovered problems included incorrect impairment charges on fixed assets at several subsidiaries and improperly timed booking of loss provisions at a U.S. subsidiary.