SG Morning Highlights | Social compact on housing involves consensus on land use: Desmond Lee

Advancers / Decliners is 72 to 67, with 102.47 million securities worth S$83.73 million changing hands.

Bitcoin climbed above US$30,000 for the first time since June 2022, rallying more than 80 per cent since the start of the year.

The rebound is even more intense than a nearly 20 per cent gain on the Nasdaq 100 — with which Bitcoin has tended to move in tandem — and retraces some of the digital token’s losses from 2022 following a series of crypto-related blowups. Still, Bitcoin is down more than 50 per cent from its all-time high in November 2021.

"30k is very significant for both technical and fundamental reasons," said Mati Greenspan, Quantum Economics chief executive officer. "The resistance has been building up for three weeks straight and has now finally broken. This is the first time we've crossed that level since the collapse of Terra/Luna and Three Arrows Capital. It basically means that the price has fully recovered from Celsius, FTX and the US regulatory crackdown."

Singapore's new social compact on housing involves arriving at a consensus on how the country's finite land and limited resources are to be allocated to meet the growing aspirations of current and future generations, National Development Minister Desmond Lee said on Tuesday (Apr 11).

He was among the five ministers who released their addenda to the President's Address the day before.

On Monday, President Halimah Yacob had set out the government's four key priorities at the opening of the second session of the 14th Parliament, touching on the need to build "an inclusive society with opportunities and assurance throughout life" as well as "a broader, more open and more inclusive meritocracy".

The deal is set to turn UBS into a wealth management "powerhouse" with "one of the most attractive business models in global banking," the analysts led by Kian Abouhossein said in a research note. Meanwhile, the price paid is "attractive" for UBS even after factoring in potential losses on Credit Suisse assets, litigation costs and restructuring expenses, they said.

UBS bought Credit Suisse last month in a deal orchestrated by the Swiss government, following a collapse in confidence at the lender that threatened to trigger a broader financial crisis. UBS, already one of the world's largest wealth managers, is now taking over a key rival for a fraction of the value of its assets and as much as 9 billion Swiss francs (S$13.2 billion) in government loss guarantees.

The Reit's manager, through its indirect wholly-owned subsidiary, Hancock S-Reit Portland, entered into a purchase and sale agreement with John Hancock Life Insurance Company (USA) for Tanasbourne. The divestment was completed on the same day.

Tanasbourne is a 132,851 square foot office campus comprising three flex-office buildings constructed between 1986 and 1995, and was refurbished in 2015, 2017 and 2020.

It is now required to appoint auditors to carry out an audit by May 31, 2023, for its financial statements for the financial year (FY) ended Mar 31, 2023, and announce the results by a deadline agreed with the exchange.

Then, based on the results, it must apply to either be removed from the watch-list, or to extend the cure period, by a deadline to be agreed with SGX.