DAILY NEWS

Daily News – 23th Aug 2019

Singapore Real Estate

Two floors at Southpoint sold for S$78.4m
A couple of commercial property deals were sealed recently. Along Cantonment Road, two floors of the 16-storey freehold Southpoint office building are being sold for S$78.4 million or S$2,444 per square foot based on the strata area of 32,076 sq ft.
https://www.businesstimes.com.sg/real-estate/two-floors-at-southpoint-sold-for-s784m

Senoko Drive industrial site tender not awarded after 2 rejected bids
The tender for a JTC industrial site at Senoko Drive will not be awarded after bids for the parcel came in below its reserve price. JTC said it received two bids for the 1.22 hectare site, which site has a tenure of 30 years and a gross plot ratio of 2.5.
https://www.businesstimes.com.sg/real-estate/senoko-drive-industrial-site-tender-not-awarded-after-2-rejected-bids

Companies’ Brief

Chip Eng Seng proposes rights issue to raise S$96m for expansion
Mainboard-listed developer Chip Eng Seng on Thursday said that it plans to do a renounceable underwritten rights issue of about 156.5 million new shares at S$0.63 each, to raise net proceeds of about S$96.3 million for its expansion plans. This will be done on the basis of one rights share for every four existing shares in the company held by shareholders.
https://www.businesstimes.com.sg/companies-markets/%C2%A0chip-eng-seng-proposes-rights-issue-to-raise-s96m-for-expansion

Soilbuild Reit to issue new units to fund Australia property buy
Soilbuild Business Space Reit (Soilbuild Reit) has launched a fully underwritten non-renounceable preferential offering to raise about S$101.8 million to fund an Australia property acquisition. The Reit (real estate investment trust) will issue about 192.1 million new units at S$0.53 per unit, which represents an approximate 8.4 per cent discount to the volume-weighted average price (VWAP) of S$0.5788 on Wednesday.
https://www.businesstimes.com.sg/companies-markets/soilbuild-reit-to-issue-new-units-to-fund-australia-property-buy
https://www.straitstimes.com/business/companies-markets/soilbuild-reit-launches-preferential-offering-to-raise-1018m-for

Boustead unit wins S$100m energy contract in Europe
Boustead Singapore’s subsidiary, Boustead International Heaters (BIH), has secured a contract worth about S$100 million from the oil & gas (O&G) industries. The contract involves the design, engineering and supply of waste heat recovery units for a major energy infrastructure development in Europe.
https://www.businesstimes.com.sg/companies-markets/boustead-unit-wins-s100m-energy-contract-in-europe

SPH donates S$426,000 to Community Chest
As part of Singapore Press Holdings’ (SPH) 35th anniversary celebrations, the company and its foundation made a donation of S$426,000 to the Community Chest on Thursday. SPH and SPH Foundation chairman Lee Boon Yang presented a cheque in that amount to Community Chest chairman Phillip Tan at a concert held at the Capitol Theatre. Perennial Real Estate Holdings Limited was the venue sponsor.
https://www.businesstimes.com.sg/companies-markets/sph-donates-s426000-to-community-chest
https://www.straitstimes.com/singapore/sph-donates-426000-to-mark-35th-anniversary

Views, Reviews, Forum & Others

Sino-US tensions – the silver lining for Asean and Singapore
Many anticipate a Sino-American “war” and, while the proximate issues are in trade, there is a broader range of contention on issues relating to technology, unfair competition, democracy and the regional and global order. The effects will be felt not only by the two great powers, but also all across the world. Singapore is already feeling the negative impact. As an open economy that thrives on free trade…
https://www.straitstimes.com/world/sino-us-tensions-the-silver-lining-for-asean-and-singapore

Experts raise cool ideas to tackle urban heat in S’pore
With temperatures in Singapore set to rise with climate change, the country needs to find new ways to keep its urban landscape cool, said researchers at a recent lecture organised by the National Development Ministry’s Centre for Liveable Cities. The ideas they came up with for Singapore’s dense urban landscape and hot weather included designing buildings and common spaces to lower temperatures indoors, as well…
https://www.straitstimes.com/singapore/experts-raise-cool-ideas-to-tackle-urban-heat-in-spore