Today’s Headline

“STI dipped by 1.26% as bank’s credit quality brought about fears, after OCBC’s huge profit drop. DBS drops 3.44%, UOB drops 1.57%, while YZJ Shipbuilding rose 2.73%.”

Today’s Outlook

“OCBC hits hard by oil/gas bad debts, with net profits dipping 18%. Share prices dropped as much as 37 cents.”

“Rules changes on finance companies to lend more to business by offer more services and lifting bar on foreign takeovers – such as electronic payment, increased uncollateralised business loans.”

“Shares of Singapore 3 finance companies soared with MAS loosening grips on them – Hong Leong rose 26 cents, Singapura Finance rose 17.5 cents and Sing Investment & Finance rose 15.5 cents.”

“Non-landed private properties resale prices up by 1.1%, with prime locations leading the gains – A gradual recovery in the resale market.”

“Credit Suisse reported Q4 loss of S$3.3 billion after taking a charge to settle a US investigation. The bank will be cutting jobs between 5.5k to 6.5k this year.”

“Noble Group share prices rose 11.28% with talks about a strategic investment with China’s Sinochem.”

“Toshiba writes down a whopping S$8.9 billion to close down its nuclear power business, and chairman resigns.”

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