Daily Debrief: What Happened Today (Oct 8)
Stories you might have missed
The Land Transport Authority is considering merging two types of car Certificate of Entitlement (COE) categories, A and B, in Singapore. This move aims to simplify the COE system and possibly make it more affordable for car buyers. Meanwhile, several Singaporean banks, DBS, OCBC, and UOB, have seen their shares drop significantly due to concerns about inflation and interest rate hikes, causing a negative impact on the STI (Singapore Stock Index).
In the telecommunications sector, StarHub has announced plans to acquire MyRepublic's mobile business. The final cost of the deal will depend on various factors related to MyRepublic's mobile subscribers and revenue. Meanwhile, Revolut, a global fintech platform, is establishing a permanent office in Singapore's Central Business District (CBD) as part of its expansion efforts, investing a substantial S$350 million into the city-state.
Lastly, OUE Real Estate Investment Trust is in exclusive discussions with IOI Properties Group and CapitaLand Investment regarding the potential sale of its One Raffles Place property, though no binding agreement has been finalized yet.
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.
