DAILY NEWS

Daily News – 26 Aug 2022 (Fri)

SINGAPORE REAL ESTATE

Public database on companies’ safety records expanded to let developers choose better contractors: Zaqy
Singapore – A public database of company safety records has been expanded to include those outside of the construction sector, to help real estate developers here better choose contractors for their projects.
https://www.straitstimes.com/singapore/public-database-on-companies-safety-records-expanded-to-let-developers-choose-better-contractors-zaqy
https://www.channelnewsasia.com/singapore/work-safety-accidents-construction-developer-redas-2899381
https://www.zaobao.com.sg/realtime/singapore/story20220825-1306389

Developers urged to pay contractors safety bonus as workplace accidents rise | Video
The Real Estate Developers’ Association of Singapore (REDAS) will encourage its members to pay out safety bonuses to incentivise contractors with good Workplace Safety and Health (WSH) performance.
https://www.channelnewsasia.com/watch/developers-urged-pay-contractors-safety-bonus-workplace-accidents-rise-video-2900281

Prime freehold resale homes now available at new leasehold suburban prices
An advertisement for a resale condominium unit shouts: “Freehold selling at leasehold price!” Another says: “S$2,064 psf for a district 9 freehold project that’s less than 9 years old.” Yet another simply states: “Cheaper than 99-year leasehold.”
https://www.businesstimes.com.sg/real-estate/prime-freehold-resale-homes-now-available-at-new-leasehold-suburban-prices

Frasers Property to preview Sky Eden@Bedok on Aug 27; prices start from S$1.3m
Frasers Property will be previewing its 158-unit residential project Sky Eden@Bedok this weekend from Aug 27, with sales bookings to start from Sep 10. In a press statement on Thursday (Aug 25), the property developer said indicative prices will start from about S$1.3 million for a 2-bedroom unit at 657 square feet (sq ft), S$1.7 million for a 3-bedroom unit (893 sq ft), and S$2.6 million for a 1,302 sq ft 4-bedroom unit.
https://www.businesstimes.com.sg/real-estate/frasers-property-to-preview-sky-edenbedok-on-aug-27-prices-start-from-s13m

COMPANIES’ BRIEF

Keppel consortium acquires 80% stake in 800 Super Holdings for S$304m
Keppel Asia Infrastructure Fund (KAIF) and Keppel Infrastructure Holdings (KI) are jointly acquiring an 80 per cent interest in Singaporean environmental services company 800 Super Holdings (800 Super) for S$304 million.
https://www.businesstimes.com.sg/companies-markets/keppel-consortium-acquires-80-stake-in-800-super-holdings-for-s304m
https://www.straitstimes.com/business/companies-markets/keppel-consortium-acquires-80-stake-in-800-super-for-304-million

Singapore’s Pan Pacific Hotels Group to open two new hotels in Tokyo next year
Singapore’s Pan Pacific Hotels Group will open two new hotels in Tokyo’s Shinjuku district next year, the hospitality firm said on Thursday (Aug 25). These two hotels are part of the ongoing Shinjuku Redevelopment Plan to spruce up the nightlife and shopping district, with new skyscrapers including offices, cinemas and malls being planned.
https://www.straitstimes.com/asia/east-asia/singapores-pan-pacific-hotels-group-to-open-two-new-hotels-in-tokyo-next-year

PropertyGuru’s Q2 net income in the black for the first time since US listing
Property portal PropertyGuru is the first among Singapore-based startups to turn profitable following its listing in the United States. For the first time since its listing in March, the property portal reported on Thursday (Aug 25) that its net income for the second quarter of FY2022 ended Jun 30 had turned positive, coming in at S$3.8 million.
https://www.businesstimes.com.sg/companies-markets/propertygurus-q2-net-income-in-the-black-for-the-first-time-since-us-listing
https://www.straitstimes.com/business/companies-markets/propertyguru-quarterly-earnings-back-in-black-for-first-time-since-us-listing

Wing Tai FY2022 full-year net profit soars 222%
Property and retail company Wing Tai Holdings on Thursday (Aug 25) reported full-year net profit of S$140.2 million for FY2022, a jump of 222 per cent from S$43.6 million full-year net profit in the previous financial year.
https://www.businesstimes.com.sg/companies-markets/wing-tai-fy2022-full-year-net-profit-soars-222

EHT’s largest creditor speaks of disappointment as hospitality trust winds up
The winding-up process of Eagle Hospitality Trust (EHT) has shed light on certain details of the lead-up to the group’s bankruptcy, particularly the role of Urban Commons as master lessee in the downfall of the trust. And at least 1 creditor is disappointed with how the affair has been handled from start to finish.
https://www.businesstimes.com.sg/companies-markets/ehts-largest-creditor-speaks-of-disappointment-as-hospitality-trust-winds-up