Daily Debrief: What Happened Today (Aug 7)
Stories you might have missed
UOB Kay Hian reported a substantial 66% increase in its first half net profit, reaching S$164.7 million in FY2026, ending June. This growth from S$99.2 million in the previous year was attributed to increased trading volume and revenue expansion. The High Court declined to include ST Engineering Aerospace Systems in a trademark infringement suit involving counterfeit aircraft parts, rejecting a wholesale trader's bid.
DBS Group Research forecasts a volatile third quarter for the Straits Times Index, with investors shifting focus from local banks to listcos capable of unlocking value. OCBC has increased its loan growth forecast for 2026 following a 22% jump in Q2 profits, with the rise in wealth management and corporate lending helping to compensate for lower interest rates.
UOB has adopted a capital-light strategy by discontinuing non-core businesses, emphasizing its advisory-led lending approach. Former Sakae director Ong Siew Kwee was sentenced to 10.5 years in prison for misappropriating S$15.8 million and providing false testimony in court.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
