The International Monetary Fund on Wednesday cut its growth projection for Singapore to 0.5 per cent in 2019, down from an earlier estimate of 2 per cent in July, due to strong export headwinds and the downturn in the electronics cycle.

ST Engineering's US marine subsidiary has been ordered following arbitration proceedings to pay US$18 million to a customer. Consequently, it would make a further provision of about S$14.2 million in the financial statements for the period ended Sept 30 as an adjusting subsequent event.

San Teh cash offer to delist extended to Nov 7. Singapore San Teh Real Estate, the offeror through which the Kao family is making the offer, together with concert parties controls or had agreed to acquire a total of 89.83 per cent of all shares in San Teh, as at 5pm on Oct 23.

Wing Tai Holdings' net profit more than tripled to S$6.8 million for the first quarter ended Sept 30, thanks to a 20 per cent reduction in cost of sales and higher profits from associates and joint ventures.

Property Guru abandoned its proposed flotation on the Australia Securities Exchange, citing uncertainty in the initial public offering market. People familiar with the deal said that the order book could not be filled even at the bottom end of the price range. The move to scrap the IPO was thus unsurprising, especially with no strategic investors coming in yet.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR