DAILY NEWS

Daily News – 19th, 20th and 21st August 2017

Top Story

Singapore has ‘natural advantage’ to be a Smart Nation
While Singapore may already have the right ingredients to become a Smart Nation, the country still lags behind other major cities in several areas when it comes to taking full advantage of technological advances. Prime Minister Lee Hsien Loong underscored the importance of being a Smart Nation during the National Day Rally on Sunday, and he urged everyone – both the young and old – to get on board the journey.
http://www.businesstimes.com.sg/government-economy/singapore-has-natural-advantage-to-be-a-smart-nation

Singapore Economy

Singapore consumer confidence jumps by most among S-E Asia nations in H1: survey
After a steady decline for two consecutive years, consumer confidence in Singapore recorded the largest improvement in South-east Asia in the first half of this year, according to the Mastercard Index of Consumer Confidence for H1 2017, released on Friday.
http://www.businesstimes.com.sg/consumer/singapore-consumer-confidence-jumps-by-most-among-s-e-asia-nations-in-h1-survey
http://www.straitstimes.com/singapore/consumer-confidence-rebounds-in-singapore

Economy and jobs immediate priorities for Govt
Singapore’s economy remains strong and growth is expected to reach around 2.5 per cent this year, higher than last year’s 2 per cent. Productivity, key to better jobs and better pay, is also improving – it rose 1 per cent last year after several years of negligible growth, and should do even better this year, Prime Minister Lee Hsien Loong said at last night’s National Day Rally.
http://www.straitstimes.com/singapore/economy-and-jobs-immediate-priorities-for-govt

In the Asia-Pacific, talent shortages will bite hardest in S’pore
Singapore is expected to be the hardest hit by talent shortages in the near future, relative to the rest of the Asia-Pacific region. A study by talent-outsourcing firm KellyOCG has found that 75 per cent of C-suite leaders in Singapore expect this dearth of talent to dent their business prospects in the next three years. (The Asia-Pacific average is lower – at 61 per cent.)
http://www.businesstimes.com.sg/government-economy/in-the-asia-pacific-talent-shortages-will-bite-hardest-in-spore

F&B sector picks up for first time since January
With consumer confidence improving, the food and beverage (F&B) sector has seen an uptick, going by latest official data. And some experts believe this trend could continue. Estimates from the Singapore Department of Statistics released earlier this month showed that June had the sector’s first year- on-year increase since January, with sales showing a modest 1 per cent increase.
http://www.straitstimes.com/singapore/fb-sector-picks-up-for-first-time-since-january

Domestic wholesale trade rises 18.5% in 2nd quarter
Singapore’s domestic wholesale trade expanded by 18.5 per cent in the second quarter this year, compared with the same period a year ago, slowing from growth of 23.5 per cent in the first quarter. Quarter on quarter, this trade grew by 1.3 per cent over the first three months of the year.
http://www.straitstimes.com/business/economy/domestic-wholesale-trade-rises-185-in-2nd-quarter

Singapore Real Estate

Park West condo owners eye S$750m in third try at collective sale
Owners of condominium project Park West are hoping that third time’s the charm in their collective sale attempt, this time at an expected selling price of S$750 million. They saw a strong start on Saturday when signatures from around 30 per cent of owners by share value and strata area were collected on their first meeting to approve the collective sales agreement. Huttons Asia was also appointed as their marketing agent.
http://www.businesstimes.com.sg/real-estate/park-west-condo-owners-eye-s750m-in-third-try-at-collective-sale

Over 100ha reserved for landscape nurseries
More than 100ha of land in north- west Singapore will be set aside for landscape nurseries, with the first plots open for tender in November. It is the first time that land has been specifically reserved for these businesses, said Second Minister for Home Affairs and National Development Desmond Lee. The news comes as a relief to those firms, some of which have land leases that expire in two years.
http://www.straitstimes.com/singapore/over-100ha-reserved-for-landscape-nurseries

Companies’ Brief

Croesus’ Q4 DPU up as acquisitions drive growth in revenue
Riding on a 19 per cent year-on-year rise to 1.27 billion yen (S$15.9 million) in fiscal fourth-quarter income available for distribution, Croesus Retail Trust on Friday reported a distribution per unit (DPU) of 2.01 Singapore cents for the three months ended June 30, 2017, up from 1.70 cents a year ago. This raised the DPU payable for the second-half of FY2017 to 4.06 cents.
http://www.businesstimes.com.sg/companies-markets/croesus-q4-dpu-up-as-acquisitions-drive-growth-in-revenue

Fullerton Healthcare acquires Healthscope’s medical centre operations in Australia
Corporate healthcare solutions provider Fullerton Healthcare Corporation Limited has acquired Healthscope’s medical centre operations (HMC), one of the largest primary care operators in Australia. HMC has a portfolio of 48 facilities comprising 43 medical centres, four specialist skin clinics and one specialist breast diagnostic clinic. It has over 350 doctors, providing care for 1.8 million patients each year.
http://www.businesstimes.com.sg/companies-markets/fullerton-healthcare-acquires-healthscopes-medical-centre-operations-in-australia
http://www.straitstimes.com/business/companies-markets/fullerton-health-buys-medical-centres-in-australia

Ascendas-Singbridge Group to acquire commercial building in Sydney for A$252m
Urban development and business space solutions provider Ascendas-Singbridge Group has entered into a contract of sale with GDI Property Group to acquire 66 Goulburn Street, an iconic A-grade commercial building in Sydney’s central business district (CBD) for A$252 million (about S$272 million). The property has a net lettable area of about 22,890 sq m over 24 office levels, a ground floor retail space and 53 basement parking spaces.
http://www.businesstimes.com.sg/companies-markets/ascendas-singbridge-group-to-acquire-commercial-building-in-sydney-for-a252m
http://www.straitstimes.com/business/property/ascendas-singbridge-to-acquire-prime-sydney-office-building-for-a252m

Yanlord shares get a boost from Moody’s report
Shares of Yanlord Land Group rose yesterday after a favourable report from a credit ratings agency. The counter added as much as 1.1 per cent during the trading session, before closing up 0.9 per cent or 1.5 cents at $1.775. Investors were likely to have been swayed after Moody’s Investors Service noted that the Chinese property developer’s strong profit margin and liquidity supported its Ba2 rating and stable outlook.
http://www.straitstimes.com/business/companies-markets/yanlord-shares-get-a-boost-from-moodys-report

Views, Reviews & Forum

The economies of sharing
Former human resource manager Lynn Lim and retired teacher Ms Neo could not be more different in demeanour and demographic. But they share one thing in common. Now self-employed after leaving their white-collared jobs, Ms Lim and Ms Neo have hopped onto the sharing economy bandwagon and now ply a very different trade from what they used to.
http://www.businesstimes.com.sg/brunch/the-economies-of-sharing-0

Improving real estate valuation
For many investors, real estate valuations serve as an important guide when it comes to making decisions on investments in real estate investment trusts (Reits) and business trusts. This is why, more broadly, having quality valuations is crucial to safeguarding investor interest and maintaining confidence in Singapore’s Reit and business trust sector – one of the largest in Asia, and a significant part of investment portfolios.
http://www.straitstimes.com/business/companies-markets/improving-real-estate-valuation

News analysis: HDB flat buyers – owners or lessees? Debate goes beyond semantics
Lessee. Tenant. Owner. When it comes to Housing Board flats, these plain terms seem to befuddle many. What exactly should an HDB flat buyer be known as? Over the past two months, this discussion has been playing out in The Straits Times’ Forum pages and online.
http://www.straitstimes.com/singapore/housing/hdb-flat-buyers-owners-or-lessees-debate-goes-beyond-semantics

The placemaker
Scenic Jinji Lake in the heart of China’s Suzhou Industrial Park is a waterfront hub that’s popular with visitors to the Chinese city. In the 1990s, it was largely farmland – and Sean Chiao, who was involved in drawing up the lake’s masterplan then as an urban design consultant, practically waged an ideological battle to turn it into the hive of bustling activity that it is today.
http://www.businesstimes.com.sg/the-raffles-conversation/the-placemaker

Cross-sector tie-ups key to meeting green buildings goal
In Parliament last month, Finance Minister Heng Swee Keat, who heads the Future Economy Council, pointed to the need for close collaboration to support Singapore’s future economy. He quoted the Building and Construction Authority (BCA) as an example. The agency brought together 400 industry stakeholders and identified 35 technologies across seven clusters in the built environment that can help to unlock productivity gains.
http://www.todayonline.com/voices/cross-sector-tie-ups-key-meeting-green-buildings-goal