Daily Debrief: What Happened Today (Aug 20)
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Wall Street's latest tech slump continues as semiconductor stocks take a dive this week. Bond yields have risen, and oil prices have climbed due to renewed concerns in the Middle East. In Singapore, prominent retail chain Japan Home has licensed its stores to Radha Exports, the operator of Valu$.
Shares of Sats fell 13.6% on Thursday, Aug 20, as investors dumped shares amid a profit-margin squeeze following the group's release of its first-quarter results the previous night. ComfortDelGro, C52, announced on Aug 20 that it will invest over S$10 million to expand its private-hire vehicle fleet with BYD's hybrid and electric vehicles (EVs).
Indonesia plans to launch a direct truck-and-cargo ferry between Batam and Johor by mid-2027, establishing a new logistics link between the two manufacturing hubs. However, Malaysia has stated that the proposal has not yet been finalized.
Tuas Power has been granted permission by the Energy Market Authority (EMA) to build, own, and operate a new combined cycle gas turbine (CCGT) generating unit, which will help meet Singapore's growing electricity needs.
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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.
