DAILY NEWS

Daily News – 14th March 2019

Singapore Real Estate

Singapore firms to ride out Brexit with eye on buy opportunities
As UK lawmakers reject a no-deal Brexit, Singapore property players with exposure to the UK market are taking the uncertainties in stride, with a few even eyeing opportunities amid the turbulence. To be clear, none of them likes the persistent murkiness of the Brexit situation, which Ho Bee Land described as “festering uncertainty with no end in sight”, and some are starting to feel slight pressure in parts of their businesses.
https://www.businesstimes.com.sg/companies-markets/singapore-firms-to-ride-out-brexit-with-eye-on-buy-opportunities

Claremont Hotel back on market with lower asking price
Claremont Hotel, a freehold eight-storey development along Serangoon Road, is back on the market for a second time with the seller eyeing offers in excess of S$70 million. The 90-room budget hotel, near the junction of Owen Road, was previously put up for sale back in July 2016 for S$90 million.
https://www.businesstimes.com.sg/real-estate/claremont-hotel-back-on-market-with-lower-asking-price
https://www.straitstimes.com/business/property/claremont-hotel-back-on-sale-with-lower-asking-price

Condo, HDB rents stagnate in Feb as leasing volumes drop
The rental market for non-landed private properties and HDB flats in Singapore remained unchanged in February, with volume in both markets recording a double digit percentage drop month on month, going by flash estimates from real estate portal SRX on Wednesday. OrangeTee & Tie head of research and consultancy Christine Sun noted that the fall in rental volume could be seasonal, as was similarly observed in 2018, when February recorded the second lowest rental volume for the year for both the private and HDB markets.
https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-stagnate-in-feb-as-leasing-volumes-drop
https://www.straitstimes.com/business/property/condo-and-hdb-rents-stagnant-in-february-as-leasing-volumes-drop
https://www.srx.com.sg/research/52862/rental-market-remains-stagnant-in-february-2019-for-non-landed-private-residential-and-hdb-volume-in-both-markets-decreased

Singapore co-working space reaches next level of luxury
The Great Room’s co-working space in Singapore’s Centennial Tower doesn’t look like your average office. The floor is marble, the finishings are brushed gold and there’s coconut water in the pantry fridge. It’s a step up from the sector’s more utilitarian offerings, and the pricing reflects that.
https://www.businesstimes.com.sg/real-estate/singapore-co-working-space-reaches-next-level-of-luxury
https://www.bloomberg.com/news/articles/2019-03-12/singapore-co-working-reaches-next-level-luxury-with-raffles-deal?srnd=premium-asia

Singapore Economy

China-US trade war biggest wildcard for Singapore economy
Private-sector economists cited the US-China trade war as the biggest wildcard that could impact Singapore’s economy, but they caution that this could swing either way. Flagged as both the number one upside and downside risk, an easing of trade tensions could result in stronger-than-expected growth while continued trade protectionism could pose a further drag to the economy, according to the Monetary Authority of Singapore’s (MAS) quarterly survey of professional forecasters released on Wednesday.
https://www.businesstimes.com.sg/government-economy/china-us-trade-war-biggest-wildcard-for-singapore-economy
https://www.straitstimes.com/business/spore-based-us-firms-confident-about-asean-growth-potential
https://www.straitstimes.com/business/economy/spore-growth-forecast-shaved-to-25-by-analysts
https://www.channelnewsasia.com/news/business/economists-trim-2019-growth-forecast-to-2-5-for-singapore-trade-11338538

Singapore top in Asia-Pacific for quality of living and personal safety: survey
Singapore has come out tops for the highest quality of living in Asia-Pacific, also clinching the highest rank in personal safety, according to Mercer’s quality of living survey. Behind Singapore are five Japanese cities, namely Tokyo, Kobe, Yokohama, Osaka and Nagoya . After these cities are Hong Kong and Seoul, which rose two places from the year before.
https://www.businesstimes.com.sg/government-economy/singapore-top-in-asia-pacific-for-quality-of-living-and-personal-safety-survey
https://www.straitstimes.com/business/economy/singapore-tops-in-asia-for-quality-of-living-personal-safety-mercer-poll

Companies’ Brief

Keppel Infrastructure Trust, Oxley call for trading halts pending announcements
In separate exchange filings on Wednesday afternoon, Keppel Infrastructure Trust (KIT) and Oxley Holdings requested trading halts pending announcements. The trading halt for KIT was requested by trustee-manager Keppel Infrastructure Fund Management (KIFM) at 3.03pm on the Singapore Exchange. Its units last traded at 48.5 Singapore cents apiece as of 3.36pm, down 0.5 Singapore cent or 1.02 per cent.
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-oxley-call-for-trading-halts-pending-announcements

Claim against KOP In Batam court fails
Property developer KOP said on Wednesday that a court claim against certain of its subsidiaries has failed. In December 2017, a statement of claim was filed by Dominic Andrla against certain KOP subsidiaries, to cancel the lease and unit management agreement for two units of a property owned by KOP’s subsidiary.
https://www.businesstimes.com.sg/companies-markets/claim-against-kop-in-batam-court-fails

Views, Reviews, Forum & Others

Getting Orchard Road to bear new fruit
Orchard Road holds many fond memories for me. Growing up in Singapore, Orchard Road was where I had some of my favourite movie experiences. From James Bond movies at the Lido to Star Wars at the Cathay, lines of people would form for tickets on opening day after months of anticipation. In 1979, I remember McDonald’s opening its first store in Singapore at Liat Towers to the same sort of queues as a Bond movie. I first experienced McDonald’s in the United States and was thrilled that I could get one in Singapore.
https://www.straitstimes.com/opinion/getting-orchard-road-to-bear-new-fruit

For many Hume residents, six-year wait for MRT station is ‘too long’
Singapore — Residents reacted with impatience and, to a lesser extent, acceptance to news that they may have to wait up to six more years to use Hume MRT station on the Downtown Line. Following Senior Minister of State for Transport Janil Puthucheary’s announcement that Hume station — between Beauty World and Hillview stations — would open by 2025, TODAY polled 20 residents at bus stops along Upper Bukit Timah Road and Hume Avenue this week.
https://www.todayonline.com/singapore/many-hume-residents-six-year-wait-mrt-station-too-long