DAILY NEWS

Daily News – 19 May 2022 (Thu)

Singapore Real Estate

Kensington Park condo launches S$1.28 billion collective sale tender
Kensington Park condominium in Serangoon has been offered for en bloc sale by public tender with a guide price of S$1.28 billion, sole marketing agent CBRE announced on Wednesday (May 18).
https://www.businesstimes.com.sg/real-estate/kensington-park-condo-launches-s128-billion-collective-sale-tender
https://www.straitstimes.com/business/property/kensington-park-condo-up-for-collective-sale-with-128-billion-guide-price

Highly leveraged homeowners may face double whammy from inflation, housing supply: IREUS
A perfect storm could potentially be on the horizon for owners of private residential properties in Singapore, especially those who are highly leveraged, said the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore.
https://www.businesstimes.com.sg/real-estate/highly-leveraged-homeowners-may-face-double-whammy-from-inflation-housing-supply-ireus

Singapore Economy

Singapore to lose most from China slump, Natixis says
A slowdown in China’s economic activity from prolonged coronavirus lockdowns this year is set to create the largest knock-on effect on Singapore, according to Natixis. Singapore could see the biggest hit to its gross domestic product as large-scale lockdowns disrupt manufacturing and dampen consumer demand in China, the world’s second-largest importer, Natixis said in a report on Wednesday.
https://www.businesstimes.com.sg/government-economy/singapore-to-lose-most-from-china-slump-natixis-says

Singapore wants to keep borders open even if Covid variant emerges
Singapore will strive to keep its borders open and stay connected to the rest of world even if a new variant of Covid-19 emerges, Transport Minister S Iswaran said. The island city has learned from its past experiences of dealing with Covid variants, Iswaran said Wednesday in an interview with Bloomberg News.
https://www.businesstimes.com.sg/government-economy/singapore-wants-to-keep-borders-open-even-if-covid-variant-emerges

Views, Reviews, Forum and Others

Bitcoin is proving more stable than stablecoins
When markets drop, my aunt doesn’t call me about buying Japanese yen or bonds, or whatever else looks cheap. But she did call to ask – for the first time – whether now was a good time to buy Bitcoin.
https://www.businesstimes.com.sg/opinion/bitcoin-is-proving-more-stable-than-stablecoins

Crashing crypto: Is this time different?
Last week TerraUSD, a stablecoin – a system that was supposed to perform a lot like a conventional bank account but was backed only by a cryptocurrency called Luna – collapsed. Luna lost 97 per cent of its value over the course of just 24 hours, apparently destroying some investors’ life savings.
https://www.businesstimes.com.sg/opinion/crashing-crypto-is-this-time-different

The dollar’s rapid rise increases risks for global economy
With so much going on in the global economy and financial markets, the US dollar’s strong recent appreciation has attracted less attention than what would have been expected given the historical experience.
https://www.straitstimes.com/opinion/the-dollars-rapid-rise-increases-risks-for-global-economy

Singapore businesses in Shanghai gear up for planned lifting of Covid curbs
With Shanghai aiming to reopen from Jun 1, Singapore businesses caught in its protracted lockdown are gearing up for a long-awaited return to business as usual. However, given how the earlier plans for easing did not materialise, not all are confident of the latest timeline given by the authorities.
https://www.businesstimes.com.sg/global-enterprise/singapore-businesses-in-shanghai-gear-up-for-planned-lifting-of-covid-curbs

Enterprise demand drives WeWork growth in Singapore
Enterprise customers are driving demand for WeWork offices in Singapore and South-east Asia, making up 46 per cent of physical memberships in South-east Asia. And this demand from larger corporations is showing no signs of slowing, said Balder Tol, general manager of WeWork Australia and South-east Asia.
https://www.businesstimes.com.sg/garage/enterprise-demand-drives-wework-growth-in-singapore