Daily Briefing: Singapore warns banks linked to 1MDB; Keppel sees dearth of oil-rig orders

And a 5-room Queenstown flat was sold for $955,000.

Singapore’s central bank, which on Thursday singled out banks including UBS Group AG for lapses related to Malaysia’s scandal-riven investment fund, also put other financial firms on notice that isn’t done probing the sector. In a statement Thursday, the Monetary Authority of Singapore rebuked UBS, DBS Group Holdings Ltd. and two other banks for weaknesses in anti-money laundering controls related to transactions tied to 1Malaysia Development Bhd. Read more here.

Keppel Corp., the world’s largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that’s helped cut its quarterly profit to the lowest in almost a decade. The company may consider reducing its workforce and mothballing some facilities in its rig-building operations because of excess capacity, the Singapore-based company said Thursday. Find out more here.

Another HDB flat in Queenstown has been sold for close to $1 million in 2016. The 5-room resale flat at Block 52 Strathmore Avenue changed hands for $955,000 this month. With a built-up area of 1,184 sq ft, the price translates to about $807 psf. The block is within walking distance from Queenstown MRT station, while nearby schools include Queenstown Primary School and the Global Indian International School. Read more here.

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