Here are some stocks that could move the market this morning:
DBS and OCBC: Two US-based investment funds have filed a lawsuit in New York against dozens of banks, among them Oversea Chinese Banking Corporation and DBS, accusing them of conspiring to rig derivative prices incorporating Singapore interest rate benchmarks, a court filing showed. The suit was filed by Greenwich, Connecticut-based FrontPoint Asian Event Driven Fund and New York-based Sonterra Capital Master Fund and traces back to the 2013 scandal in Singapore when the central bank found more than 100 traders in the city-state tried to rig key borrowing and currency rates.
The other banks sued are Citigroup, Bank of America, JPMorgan Chase, RBS, UBS, ING, BNP Paribas, Barclays, Credit Agricole, Credit Suisse, Standard Chartered, Mitsubishi Ufj, HSBC, Macquarie and Commerzbank.
GuocoLand’s indirect wholly-owned subsidiary, First Bedok Land (FBL) has won the tender for the residential site at Martin Place by the Urban Redevelopment Authority of Singapore, at the bid price of $595.1 million. The 99-year leasehold land has a gross plot ratio of 2.8. Comprising a land area of 15,936.1 sqm, the land will be developed into a luxury condominium, capable of yielding about 450 units of varying configurations. GuocoLand shares closed 1.9% higher at $1.88 on Friday.
Best World International announced subsidiary Best World (Zhejiang) Pharmaceutical Co. (BWZ) was granted on Thursday a direct selling licence by China’s Ministry of Commerce. BWZ is a wholly-owned subsidiary of Best World Lifestyle, which itself is wholly-owned by Best World International. Under the licence, BWZ is permitted to conduct direct selling in areas in China which would be announced in due course. Best World International shares closed 15.7% higher at $1.33 on Friday.
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DBS and OCBC: Two US-based investment funds have filed a lawsuit in New York against dozens of banks, among them Oversea Chinese Banking Corporation and DBS, accusing them of conspiring to rig derivative prices incorporating Singapore interest rate benchmarks, a court filing showed. The suit was filed by Greenwich, Connecticut-based FrontPoint Asian Event Driven Fund and New York-based Sonterra Capital Master Fund and traces back to the 2013 scandal in Singapore when the central bank found more than 100 traders in the city-state tried to rig key borrowing and currency rates.
The other banks sued are Citigroup, Bank of America, JPMorgan Chase, RBS, UBS, ING, BNP Paribas, Barclays, Credit Agricole, Credit Suisse, Standard Chartered, Mitsubishi Ufj, HSBC, Macquarie and Commerzbank.
GuocoLand’s indirect wholly-owned subsidiary, First Bedok Land (FBL) has won the tender for the residential site at Martin Place by the Urban Redevelopment Authority of Singapore, at the bid price of $595.1 million. The 99-year leasehold land has a gross plot ratio of 2.8. Comprising a land area of 15,936.1 sqm, the land will be developed into a luxury condominium, capable of yielding about 450 units of varying configurations. GuocoLand shares closed 1.9% higher at $1.88 on Friday.
Best World International announced subsidiary Best World (Zhejiang) Pharmaceutical Co. (BWZ) was granted on Thursday a direct selling licence by China’s Ministry of Commerce. BWZ is a wholly-owned subsidiary of Best World Lifestyle, which itself is wholly-owned by Best World International. Under the licence, BWZ is permitted to conduct direct selling in areas in China which would be announced in due course. Best World International shares closed 15.7% higher at $1.33 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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