MARKET UPDATES :
- SINGAPORE shares ended 0.27 per cent lower on Tuesday with the
Straits Times Index slipping 8.85 points to 3,292.15. Some 1.15 billion
shares, valued at S$989.1 million were traded. Gainers numbered 150
while losers numbered 242.
- SINGAPORE’S public accountants and public accounting firms will soon
have to adhere to stricter professional conduct and ethics guidelines
aimed at greater audit independence. The Accounting and Corporate
Regulatory Authority (Acra), the industry’s regulator, announced on
Monday that the Code of Professional Conduct and Ethics (Code) for
public accountants and accounting entities will be strengthened further
from Feb 1, 2015.
- SINGAPORE banks are expected to step up their foreign currency bond
sales to fund increasing intra- regional expansion. This comes as Asean
banks step up bond issuances overall, as loans growth outpace deposit
inflows, said Moody’s Investors Service in a report on Monday. Banks in
Singapore and Malaysia have increasing foreign-currency funding
requirements arising from their active pursuit of intra-regional
expansion, added Moody’s.
- Singapore’s Maritime and Port Authority (MPA) said on Tuesday that
it expects minimal disruption to supplies of bunker shipping fuel in the
country’s port following the bankruptcy of Denmark’s OW Bunker. “There
are currently more than 60 bunker suppliers in Singapore, and OW Bunker
Far East (Singapore) Pte Ltd accounted for less than three per cent of
the 42.6 million metric tonnes supplied in Singapore in 2013,” the MPA
said in a statement.
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