Daily Debrief: What Happened Today (Sep 28)
Stories you might have missed
City Developments Ltd (CDL) plans to hire a dedicated CEO and management team as it expands its presence in private funds, with a goal of doubling assets under management to S$10 billion by FY2029. Singapore's factory output growth accelerated to 15.4% in August, outpacing initial estimates of 6.9% growth, though still below the consensus median of 18.3% expansion.
VisionPower Semiconductor Manufacturing Company (VSMC), a venture between TSMC-backed Taiwanese chipmaker Vanguard International Semiconductor and Dutch chipmaker NXP Semiconductors, opened its $7.8 billion chip fabrication plant in Singapore, anticipating demand for "physical AI." Temasek increased its stake in Italian growth equity firm FSI to 9%, with further capital to be allocated to future FSI investments.
Venture capital drove Asia-Pacific private-market returns in the second quarter of 2026, outperforming infrastructure despite global benchmarks. The founding family of Hafary Holdings intends to privatize their building-materials supplier at S$0.64 per share due to limited liquidity and increasing compliance expenses.
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.
