Daily Debrief: What Happened Today (Oct 13)
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Singapore's family offices are increasingly seeking out their own investment opportunities amidst growing institutionalisation in the sector. The once predominantly China-oriented Malaysian Chinese businesses are now distancing themselves from Beijing. The Beauty World Plaza mixed-used development is up for sale at S$165 million or S$2,231 per square foot.
In private negotiations, owners of City Plaza are exploring potential buyers after the S$970 million en bloc tender closed without formal bids. Malaysia's King has acquired a 2.25% stake in Singapore-listed Southern Alliance Mining through an off-market deal with the firm's managing director and controlling shareholder. DBS shares were upgraded to "add" by CGSI, with a target price of S$79.50, citing the bank's impressive return on equity of 20% and attractive dividend yield of 4.8% for FY2027.
AEM shares declined by up to 8% as Chinese memory maker CXMT announced progress on a memory chip design capable of storing more data.
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.
