---
title: "Daily Debrief: What Happened Today (Oct 13)"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301698652.md"
description: "Singapore family offices are increasingly sourcing investments independently. Beauty World Plaza is up for collective sale at S$165m, while City Plaza enters private talks after a tender closed with no bids. Malaysia's king acquired a 2.25% stake in Singapore-listed Southern Alliance Mining. CGS International upgraded DBS to 'add' with a S$79.50 target price. Meanwhile, AEM shares dropped nearly 8% amid a global slide in chip stocks."
datetime: "2026-10-13T10:48:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301698652.md)
  - [en](https://longbridge.com/en/news/301698652.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301698652.md)
generator: "portal-rs"
---

# Daily Debrief: What Happened Today (Oct 13)

Stories you might have missed

**Family offices ‘kept captive’ by relationship managers turn to independent advisers, direct deals**

\[SINGAPORE\] Family offices in Singapore are taking a more active hand in sourcing their own investment opportunities as the sector becomes increasingly institutionalised.

* * *

**Beauty World Plaza up for collective sale for S$165 million**

\[SINGAPORE\] Mixed-used development Beauty World Plaza is up for sale at S$165 million, or S$2,231 per square foot of gross floor area, said real estate advisory firm ETC on Tuesday.

* * *

**City Plaza owners in private talks after close of S$970 million en bloc tender**

\[SINGAPORE\] The owners of City Plaza have entered into a 10-week private treaty period after its S$970 million en bloc sale tender closed on Tuesday with no formal bids.

* * *

**Malaysian king buys stake in Singapore-listed mining firm expanding into rare earths**

\[KUALA LUMPUR\] Malaysia’s king has acquired a 2.25 per cent stake in Singapore-listed Southern Alliance Mining, paying a premium in an off-market deal with the firm’s managing director and controlling shareholder Pek Kok Sam, the company said.

* * *

**CGSI upgrades DBS to ‘add’, raises target price to S$79.50**

\[SINGAPORE\] CGS International (CGSI) upgraded DBS shares to “add” from “hold”, raising its target price to S$79.50 from S$77.10, citing the bank’s “best-in-class” return on equity of 20 per cent and an attractive projected dividend yield of 4.8 per cent for FY2027.

* * *

**AEM shares down 7.7% as global chip stocks slide**

\[SINGAPORE\] AEM shares fell as much as 8 per cent on Tuesday after Chinese memory maker CXMT said that it had made progress on a memory chip design capable of storing more data.

### Related Stocks

- [AWX.SG](https://longbridge.com/en/quote/AWX.SG.md)
- [D05.SG](https://longbridge.com/en/quote/D05.SG.md)
- [QNS.SG](https://longbridge.com/en/quote/QNS.SG.md)
- [XWA.SG](https://longbridge.com/en/quote/XWA.SG.md)

## Related News & Research

- [Consensus price target for DBS Group Holdings Ltd - depositary receipt increased by 33.10% to $256.27](https://longbridge.com/en/news/302963211.md)
- [Malaysian king buys stake in Singapore-listed mining firm expanding into rare earths](https://longbridge.com/en/news/301647456.md)
- [DBS and Avaloq expand 18-year partnership on wealth skills](https://longbridge.com/en/news/300229583.md)
- [DBS wants to be ‘Asian bank for Asians’ rather than global bank: CEO Tan Su Shan](https://longbridge.com/en/news/298738530.md)
- [DBS joins lenders in expanded DayOne Johor data center financing totaling RM 15 billion](https://longbridge.com/en/news/301812990.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**