SINGAPORE ECONOMY
Singapore, Brunei reaffirm commitment to ties as 40th anniversary of diplomatic relations approaches
Singapore and Brunei reaffirmed the shared commitment of both countries to elevate ties, with 2024 marking the 40th anniversary of diplomatic relations, said the Ministry of Foreign Affairs (MFA) in a statement on Dec 12.
https://www.straitstimes.com/singapore/politics/singapore-brunei-reaffirm-commitment-to-elevate-ties-with-40th-anniversary-of-diplomatic-relations-coming-up
Singapore is the best city in Asia for expats again: Mercer survey
Making the decision to live and work abroad is a huge undertaking, especially if you’re uprooting your family. And perhaps the biggest question of all is: “Where do we go?” Singapore was the highest ranked Asian entry, but tied overall in 29th place with Adelaide. Hong Kong languished in 77th place on the list of 241 destinations.
https://www.straitstimes.com/business/singapore-again-best-city-in-asia-for-expats-mercer-survey
Companies’ Brief
BlackRock, Aimco back US$800 million Asia infrastructure fund
An Asia-focused infrastructure fund has raised US$800 million from investors including funds managed by BlackRock and pension manager Alberta Investment Management, amid renewed interest in the asset class.
https://www.businesstimes.com.sg/companies-markets/banking-finance/blackrock-aimco-back-us800-million-asia-infrastructure-fund
https://www.theedgesingapore.com/news/funds/blackrock-aimco-back-us800-mil-asia-infrastructure-fund
https://www.scmp.com/business/banking-finance/article/3244793/singapores-seraya-partners-closes-us800-million-fund-backed-blackrock-and-aiib-build-asia-pacific
Boustead Projects inks sale and purchase agreement for Vietnam industrial property company
KTG & Boustead Industrial Logistics Joint Stock Company (KBIL), a joint venture of Boustead Projects has entered a sale-and-purchase agreement for all the issued and paid-up shares of Minh Quang Industrial Development Joint Stock Company for US$10.7 million.
https://www.businesstimes.com.sg/companies-markets/boustead-projects-inks-sale-and-purchase-agreement-vietnam-industrial-property
https://www.theedgesingapore.com/news/ma/boustead-projects-joint-venture-set-acquire-vietnamese-company-minh-quang-us107-million
Mapletree Logistics Trust to acquire India warehouse for 900 million rupees
Mapletree Logistics Trust (MLT) is proposing to acquire a Grade A warehouse at Farukhnagar, which is within the Delhi National Capital Region in India, for 900 million rupees (S$14.5 million).
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-acquire-india-warehouse-900-million-rupees
Views, Reviews Forum and Others
Worker at HarbourFront condo worksite disciplined for illegally dumping waste into canal
A worker at the construction site of a condominium in HarbourFront has been punished for dumping construction waste into a canal. In a video posted to the Complaint Singapore Unrestricted Facebook page on Dec 8, a worker at The Reef at King’s Dock worksite is seen discarding construction debris and rubbish into the canal.
https://www.straitstimes.com/singapore/worker-at-harbourfront-condo-work-site-disciplined-for-illegally-dumping-waste-into-sea
35 cases of fallen windows in first 11 months of 2023; home owners advised to maintain windows
There were 35 cases of fallen windows recorded in Singapore from January to November, 19 of them involving casement windows. This is compared with 33 cases reported for the whole of 2022 – 17 were for casement windows, 15 were for sliding windows and one was for a louvre window, according to figures provided by the Building and Construction Authority (BCA)
https://www.straitstimes.com/singapore/35-cases-of-fallen-windows-in-first-11-months-of-2023-home-owners-advised-to-maintain-windows
https://www.todayonline.com/singapore/fallen-windows-hdb-flats-bca-2324121
Companies say hybrid work arrangements are helpful amid spike in COVID-19 cases
When Singapore went through a COVID-19 wave in April, public relations firm Tate Anzur took action. Staff were then encouraged to work from home for a few weeks as part of a “health reset”.
https://www.channelnewsasia.com/singapore/covid19-cases-infections-remote-work-home-hybrid-arrangements-3982196
Masks, vaccines: Doctors urge public to protect themselves as flu, Covid-19 cases spike
Doctors are calling on people to get vaccinated and to mask up, to reduce the usual year-end increase in acute respiratory infections, which include Covid-19, influenza and the common cold.
https://www.straitstimes.com/singapore/doctors-urge-people-to-get-vaccinated-against-flu-and-covid-19-and-to-mask-up-in-crowded-places
Global Economy & Real Estate
More than half of Apac family offices report asset growth despite challenges: study
https://www.businesstimes.com.sg/companies-markets/more-half-apac-family-offices-report-asset-growth-despite-challenges-study
Developing Asia to end 2023 on brighter note as China’s economy recovers – ADB
https://www.channelnewsasia.com/business/developing-asia-end-2023-brighter-note-chinas-economy-recovers-adb-3984961
Yellen sees inflation gradually heading back to Fed’s 2% target
https://www.businesstimes.com.sg/international/yellen-sees-inflation-gradually-heading-back-feds-2-target
https://www.theedgesingapore.com/news/us-economy/yellen-sees-inflation-gradually-heading-back-feds-2-target
US consumer prices rise in November
https://www.businesstimes.com.sg/international/us-consumer-prices-rise-november
https://www.straitstimes.com/business/us-consumer-prices-pick-up-in-bumpy-path-down-for-inflation
US expects to make multi-billion chips awards within the next year
https://www.businesstimes.com.sg/international/us-expects-make-multi-billion-chips-awards-within-next-year
Australia govt sees budget almost in balance for 2023/24
https://www.straitstimes.com/asia/australia-govt-sees-budget-almost-in-balance-for-202324
https://www.businesstimes.com.sg/international/australia-government-sees-budget-almost-balance-202324
China’s development is biggest political priority at key econ meeting as leaders vow to counter risks, lift confidence in 2024
https://www.scmp.com/economy/china-economy/article/3244856/chinas-development-biggest-political-priority-key-econ-meeting-leaders-vow-counter-risks-lift
China says it will step up policy adjustments to spur recovery in 2024
https://www.businesstimes.com.sg/international/china-says-it-will-step-policy-adjustments-spur-recovery-2024
https://www.channelnewsasia.com/business/china-says-it-will-step-policy-adjustments-spur-recovery-2024-3983316
China pledges fresh support for property market
https://www.businesstimes.com.sg/property/china-pledges-fresh-support-property-market
Bank of America banker warns China property slump to last years, hit deals
https://www.businesstimes.com.sg/property/bank-america-banker-warns-china-property-slump-last-years-hit-deals
China puts focus on industrial policy, skips big demand stimulus
https://www.businesstimes.com.sg/international/china-puts-focus-industrial-policy-skips-big-demand-stimulus
German investor morale up in December on ECB expectations: ZEW
https://www.businesstimes.com.sg/international/german-investor-morale-december-ecb-expectations-zew
3 out of 4 Hong Kong firms struggling to source talent ahead of 2024, despite slight uptick in availability of skilled workers: survey
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3244847/3-out-4-hong-kong-companies-struggling-source-talent-ahead-2024-despite-slight-uptick-availability
13% Hongkongers think it is a ‘good time’ to buy property, second highest level of optimism on record, Citi survey shows
https://www.scmp.com/business/article/3244808/more-1-10-hongkongers-think-it-good-time-buy-property-second-highest-level-optimism-record-citi
Japan’s input inflation eases further to slowest pace since 2021
https://www.businesstimes.com.sg/international/japans-input-inflation-eases-further-slowest-pace-2021
Japan business mood improves for 3rd straight quarter to December – tankan
https://www.channelnewsasia.com/business/japan-business-mood-improves-3rd-straight-quarter-december-tankan-3984981
London to lead long-awaited slowdown in UK rent growth next year
https://www.businesstimes.com.sg/property/london-lead-long-awaited-slowdown-uk-rent-growth-next-year
Occupants of seven-storey Bronx apartment escape death after building collapses
https://www.businesstimes.com.sg/property/occupants-seven-storey-bronx-apartment-escape-death-after-building-collapses
UK mortgage lending falls sharply as arrears increase: BOE
https://www.businesstimes.com.sg/property/uk-mortgage-lending-falls-sharply-arrears-increase-boe
UK’s once-hot country home market faces a rough post-Covid reality
https://www.businesstimes.com.sg/property/uks-once-hot-country-home-market-faces-rough-post-covid-reality
UK pay growth slows but BOE seen sticking to line on rates
https://www.businesstimes.com.sg/international/uk-pay-growth-slows-boe-seen-sticking-line-rates
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