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Singapore Shares Surge, Mirrors Regional Gains Over Slump in Oil Prices

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Singapore shares gained nearly 1% at the close on Tuesday, tracking similar regional fortunes as oil prices slumped further.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,663.60 and 5,737.33 throughout the day. It ended the session at 5,723.76, up 48.53 points or 0.9% compared to Monday's close.

On the corporate front, shares of Seatrium (SGX:5E2) close nearly 5% higher as it sought to establish a new SG$200 million share buyback program.

Aspial Lifestyle (SGX:5UF) was down over 1% at the close as it increased the limit of its multicurrency medium-term bond program to SG$500 million from SG$300 million.

Meanwhile, Soon Hock Enterprise (SGX:SHE) unit Soon Hock (4) has secured three term loan facilities totaling up to SG$129 million from Maybank Singapore.

What else is happening in Asia?

Asia

Goodman Group Receives 2 Shareholder Resolutions for Upcoming Annual General Meeting

Goodman Group (ASX:GMG) received two shareholder resolutions for consideration at its Nov. 19 annual general meeting, according to a Monday filing with the Australian bourse.One of the resolutions calls on the company to disclose its framework for identifying and managing material environmental and social-license risks related to data center development close to residential areas, schools, or environmentally sensitive land.The second one seeks an amendment to Goodman Group's constitution to permit advisory resolutions, per the filing.Both resolutions are advisory and do not bind the company's directors.Its shares gained past 1% in recent Tuesday trade.

ASX:GMG
Asia

Farglory Land Development Approves NT$5.46 Billion Construction Contract

Farglory Land Development (TPE:5522) approved a construction contract with its subsidiary, Farglory Construction, for a land bank in Kaohsiung City for NT$5.46 billion, according to a Monday Taiwan bourse filing.The real estate developer's subsidiary will be engaged in the contract on the company's own land to increase revenue.

TPE:5522
Asia

Sealink International Receives $17 Million Insurance Payout for Vessel Fire Incident in Brazil

Sealink International (KLSE:SEALINK) has received the insurance proceeds of $17.3 million on Monday, in relation to the fire incident involving one of the group's vessels located in Brazil, according to a sameosay filing to the Malaysian bourse.The payout follows a settlement agreement executed on May 5.The company's shares were up nearly 2% in recent trade.

KLSE:SEALINK