Daily Debrief: What Happened Today (Jul 21)

Stories you might have missed

Tan Boon Liat Building sold en bloc to Kingsford Group at lower reserve price of S$950 million

[SINGAPORE] Freehold Tan Boon Liat Building has been sold en bloc to a unit of Kingsford Group for S$950 million, subject to the fulfilment of certain conditions and owners’ approval.

EGP Energy offers 1 million public shares at S$0.51 each in mainboard listing

[SINGAPORE] Electrical infrastructure solutions and services provider EGP Energy Corporation launched its initial public offering on Tuesday (Jul 21), seeking to raise about S$30.6 million in gross proceeds ahead of its planned listing on the Singapore Exchange (SGX) mainboard.

CGSI downgrades OCBC on sharp share price gain, less attractive yield, but raises target price

[SINGAPORE] CGS International (CGSI) downgraded OCBC : O39 -0.17% to “hold” in its research report on Tuesday (Jul 21), citing limited upside following a sharp run-up in the lender’s stock price and a relatively less-attractive dividend yield compared with its banking peers in Singapore.

Singapore launches professional services centre as part of network for businesses’ Asia expansion

[SINGAPORE] A new professional services centre launched in Singapore on Tuesday (Jul 21) will provide access to local knowledge, professional expertise and business connections to help businesses expand across Asia.

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Daily Debrief: What Happened Today (Jul 20)

Bank of China approved by MAS as a primary dealer

[SINGAPORE] The Bank of China’s (BOC) Singapore branch was approved by the Monetary Authority of Singapore (MAS) to become a primary dealer.

Indonesia offers sweeping tax breaks under new financial-centre law

[JAKARTA] Indonesia’s parliament on Tuesday (Jul 21) approved legislation establishing an international financial centre that Jakarta hopes will draw up to US$28 billion in investment and compete with established hubs such as Singapore, Hong Kong and Dubai.