In an interview with Channel NewsAsia, Mr Renato de Guzman also shared how the private banking industry has changed over the years and described the bank's growth strategy.
Transactions in the new SGX RMB futures totalled 1,846 contracts, or about 1.1 billion yuan in notional value. More than 1 billion yuan in cash has been deposited as margin collateral by market participants, said SGX.
The property arm of oil rig builder Keppel Corp earned S$113 million in the three months ended September, down from S$126 million in the same period a year ago.
Contributing factors include the "challenging situation" at its flagship Scotts Road store and start-up costs for its new store at Westgate, says Isetan.
Upon completion of the deal, TIHT Investment Holdings, a subsidiary of TIH, will be 55 per cent owned by Killian Court and 45 per cent owned through an indirectly wholly-owned subsidiary of Temasek Holdings.
The investment by private equity firm Tembusu Partners is believed to be one of the largest first-round investments in a Singapore start-up, said the company.
Sembmarine's subsidiaries have secured contracts worth a combined S$222 million; the contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share this year, the company said.
Respondents also think they need about US$900,000 (S$1.15 million) on average in savings for retirement, which is the highest in the Southeast Asia region, according to a survey by AIA.
Only 6.3 per cent say they intend to tap on the R&D tax benefits offered in the Productivity and Innovation Credit Scheme, suggesting a mismatch in defining R&D for business and tax purposes, according to the survey report.
Inflation expectations rise for the first time since September 2012, mainly due to domestic pass-through price pressures, such as rental and tight labour conditions, according to the SMU SInDEx survey.