Singapore's stock market closed higher on Monday, following gains in Wall Street on Friday, driven by potential interest rate cuts by the US Federal Reserve due to weak US jobs data.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,566.42 and 3,582.04 throughout the day. It ended the session at 3,572.04, up 16.61 points or 0.47% compared to Friday's close.
In company news, shares of Medi Lifestyle (SGX:Z4D) surged over 9% after the company entered into a loan agreement with Lingholm Holdings for an interest-free loan amounting up to SG$2.1 million.
Pasture Holdings (SGX:UUK) surged nearly 7% after it appointed Tan Xi Yi as the company's chief operation officer (COO) and Lee Quang Loong as the chief financial officer (CFO).
Meanwhile, City Developments (SGX:C09) was up nearly 1% after its wholly-owned subsidiary, Chenghong Investment, jointly acquired a mixed-use development site in Downtown Shanghai for around 8.94 billion yuan.
Genting Sing rose 1.2%.
In a bourse filing on Saturday, the mainboard-listed company said MacDonald stepped down, effective Nov 1, to “pursue personal interests”. MacDonald, 64, had been responsible for overseeing the overall business of RWS.
The announcement came months after MacDonald said he was issued a persona non grata notice, which banned him from Marina Bay Sands’ premises. The ban was for alleged attempts at poaching high-rollers.
MacDonald, a veteran casino gaming executive, was an employee of MBS for almost 12 years. He was executive vice-president of casino operations at MBS from 2010 and became chief casino officer for MBS parent Las Vegas Sands in 2012.
He left MBS in July 2021 and joined RWS in September 2022 as chief casino officer, after a non-compete clause in his separation agreement expired.
SingPost rose 2%, SIA Engineering rose 1.2%, UOL rose 0.9%, DBS rose 0.8%; Olam fell 2.5%.
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