The Business Times

Hot stock: Seatrium dives over 10% on heavy trading volumes As at 10.13 am, the index counter had lost as much as 11.1 per cent or S$0.20 to S$1.60 after 34 million securities changed hands, making it the most actively transacted stock in terms of both value and volume at the time. https://bt.sg/XvmF

Rather than Lawrence Wong’s choice of deputies, the post-GE Cabinet is the one to watch What bears watching, instead, is the Cabinet that will be formed if and when the People’s Action Party is returned to power at the next General Election, due by November 2025. https://bt.sg/tzhG

Start your day with BT ☕️: Stocks to watch: Golden Agri, First Resources, Singtel, UOL, StarHub, Frencken https://bt.sg/LE6u Top stories 1. Singapore: ‘We are prepared to relook everything’: Lawrence Wong on new leadership’s approach https://bt.sg/fL4v 2. Property: Tuan Sing confirms acquisition of Fraser Residence River Promenade for S$140.9 million https://bt.sg/8aCi 3. Singapore: (Opinion) Rather than Lawrence Wong’s choice of deputies, the post-GE Cabinet is the one to watch https://bt.sg/MgPg

Sea posts US$23 million Q1 loss; higher costs temper record-high Shopee revenue The company’s e-commerce arm Shopee hit record highs in quarterly orders, gross merchandise value (GMV) and revenue – but this came with higher marketing costs, as Sea fends off e-commerce challengers TikTok Shop and Temu. https://bt.sg/tN2p

Consortium led by UOL and CapitaLand Development places top bid of S$805.4 million for Holland Drive site The group's bid works out to S$1,285 psf ppr. https://bt.sg/mgWP

VIDEO: OK Lim found guilty of 3 criminal charges involving US$111.7 million Former billionaire oil tycoon, OK Lim, has been found guilty of three criminal charges of cheating and instigating forgery. The charges involve a total of US$111.7 million. The founder of collapsed oil trader Hin Leong Trading is set to be sentenced on Oct 3, with his bail of S$4 million extended till then. Read more: https://bt.sg/gmrn

CDL acquires Hilton Paris Opera Hotel from Blackstone funds for 240 million euros The historic hotel, which opened during the 1889 World’s Fair in Paris, is located in one of the city’s main business districts. https://bt.sg/mUGP

Singapore life insurance sales up 32.2% to S$1.4 billion in Q1 The Life Insurance Association, Singapore (LIA) said uptake of single-premium policies grew 46.4 per cent to S$500.4 million for the quarter. https://bt.sg/E942

Cordlife shareholders vote to remove three directors including acting chair Ho Choon Hou from board Three directors proposed by substantial shareholder Nanjing Xinjiekou Department Store were elected to the board. https://bt.sg/EJbx

OCBC prices US$500 million fixed-rate subordinated notes They are slated to be listed on the Singapore Exchange on May 23. https://bt.sg/veVD