Singapore Economy
Sentiment tanks, services firms less upbeat in H2: surveys
Business sentiment for the second half of 2019 sank among manufacturers and services firms in Singapore on the back of global trade tensions, according to two surveys released on Wednesday. The surveys, which polled businesses on their outlook for July to December 2019, were released by the Economic Development Board (EDB) for the manufacturing sector and the Department of Statistics (Singstat) for services.
https://www.businesstimes.com.sg/government-economy/sentiment-tanks-services-firms-less-upbeat-in-h2-surveys-0
https://www.straitstimes.com/business/economy/polls-manufacturing-sentiment-sinks-services-less-optimistic
https://www.channelnewsasia.com/news/singapore/singapore-manufacturers-services-less-upbeat-about-next-6-months-11769562
Singapore household average incomes, living standards up over five years: survey
Families from all income groups in Singapore are earning more compared to five years ago, and the increases are mostly ahead of the pace of rise for their spending, according to a government survey. The exception was households in the lowest 20 per cent income group – their expenditure grew 3 per cent a year, while income growth in nominal terms was 2.8 per cent a year. Over a third of these households are headed by people aged 65 and older.
https://www.businesstimes.com.sg/government-economy/singapore-household-average-incomes-living-standards-up-over-five-years-survey
https://www.straitstimes.com/singapore/household-incomes-living-standards-have-gone-up
https://www.channelnewsasia.com/news/singapore/cost-of-living-monthly-household-income-singapore-11769786
https://www.todayonline.com/singapore/rises-singapore-household-incomes-over-past-five-years-mostly-outpace-spending-survey
Robust business loans save the day for bank lending in June
Robust business loans more than offset the decline in residential mortgages, resulting in a 0.8 per cent month-on-month increase in total bank lending for the month of June. Monetary Authority of Singapore (MAS) preliminary data on Wednesday showed that loans to businesses came in stronger at S$423.5 billion in June, up 1.3 per cent month on month and 3.8 per cent year on year.
https://www.businesstimes.com.sg/banking-finance/robust-business-loans-save-the-day-for-bank-lending-in-june
https://www.straitstimes.com/business/bank-lending-up-08-in-june-mas
Companies’ Brief
Frasers Logistics & Industrial Trust raises S$258.1m via private placement
Frasers Logistics & Industrial Trust (FLT) has raised S$258.1 million through a private placement of 220 million units at an issue price of S$1.173 per unit. The private placement announced late Tuesday drew strong demand from new and existing investors which led to the book being approximately 3.2 times subscribed, FLT said.
https://www.businesstimes.com.sg/companies-markets/frasers-logistics-industrial-trust-raises-s2581m-via-private-placement
https://www.straitstimes.com/business/companies-markets/frasers-logistics-industrial-trust-raises-2581m-via-private-placement
Roxy-Pacific profit falls by 16.2% in Q2
Mainboard-listed property group Roxy-Pacific Holdings will prioritise shifting private homes in the Singapore market, it said in second-quarter results on Wednesday. But selling apartments turned out to be costly work as well, even as earnings slid on a lack of fair-value gain.
https://www.businesstimes.com.sg/companies-markets/roxy-pacific-profit-falls-by-162-in-q2
Heeton-Lian Beng-KSH consortium buy out Aussie partner in Brisbane project
A trio of Singapore-listed property developers has consolidated their stake in a plot of land in Brisbane, Australia, according to a bourse filing on Wednesday. The consortium – Heeton Holdings, with a 55 per cent stake, Lian Beng Group with a 30 per cent stake and KSH Holdings with a 15 per cent stake – paid A$5.5 million (S$5.23 million) in cash for the remaining 67 per cent stake in 186, Wickham Street, Fortitude Valley.
https://www.businesstimes.com.sg/companies-markets/heeton-lian-beng-ksh-consortium-buy-out-aussie-partner-in-brisbane-project
Singapore’s JustCo to lease 16-storey Seoul tower, seeks new markets
[Singapore] Flexible space operator JustCo is set to lease a 16-storey building in Seoul’s Gangnam business district for its largest location, raising its bets on growing demand for co-working space, while eyeing new markets like Japan, Vietnam and India. Co-working spaces have become popular among startups due to their flexibility of short-term leases in well-decorated spaces in prime locations and keep…
https://www.businesstimes.com.sg/garage/singapores-justco-to-lease-16-storey-seoul-tower-seeks-new-markets
Views, Reviews, Forum & Others
A rejuvenated Grand Dame
https://www.businesstimes.com.sg/real-estate/a-rejuvenated-grand-dame
Global Economy & Global Real Estate
Federal Reserve cuts key interest rate to ‘insure’ against global uncertainties
https://www.businesstimes.com.sg/government-economy/federal-reserve-cuts-key-interest-rate-to-insure-against-global-uncertainties
https://www.straitstimes.com/business/economy/fed-lowers-interest-rates-as-expected-leaves-door-open-to-more-cuts
America’s housing affordability crisis spreads to heartland
https://www.businesstimes.com.sg/real-estate/americas-housing-affordability-crisis-spreads-to-heartland
Microhotels skimp on size, but not style
https://www.businesstimes.com.sg/real-estate/microhotels-skimp-on-size-but-not-style
UK house prices stay sluggish as Brexit drags on market: Nationwide
https://www.businesstimes.com.sg/real-estate/uk-house-prices-stay-sluggish-as-brexit-drags-on-market-nationwide
China’s factory output for July continues to shrink
https://www.businesstimes.com.sg/government-economy/chinas-factory-output-for-july-continues-to-shrink
https://www.straitstimes.com/business/economy/china-july-factory-activity-shrinks-for-3rd-straight-month-official-pmi
HK posts gloomy GDP figures amid unrest, trade war
https://www.businesstimes.com.sg/government-economy/hk-posts-gloomy-gdp-figures-amid-%C2%A0unrest-trade-war
Hong Kong central bank cuts interest rate for first time in decade
https://www.businesstimes.com.sg/banking-finance/hong-kong-central-bank-cuts-interest-rate-for-first-time-in-decade
Hong Kong home prices fall for first time in 6 months in June
https://www.businesstimes.com.sg/real-estate/hong-kong-home-prices-fall-for-first-time-in-6-months-in-june-0
https://www.straitstimes.com/business/property/hong-kong-home-prices-fell-for-first-time-in-6-months-in-june-on-trade-tensions
Australia inflation ticks up in Q2, rate cut still in play
https://www.businesstimes.com.sg/government-economy/australia-inflation-ticks-up-in-q2-rate-cut-still-in-play
Australian home prices find a floor in July, outlook improves
https://www.businesstimes.com.sg/real-estate/australian-home-prices-find-a-floor-in-july-outlook-improves
China halts individual travel to Taiwan: tourism ministry
https://www.businesstimes.com.sg/government-economy/china-halts-individual-travel-to-taiwan-tourism-ministry
https://www.straitstimes.com/world/china-halts-individual-travel-to-taiwan-amid-rising-tension
Euro growth halves in Q2, as inflation slows sharply in July
https://www.businesstimes.com.sg/government-economy/euro-growth-halves-in-q2-as-inflation-slows-sharply-in-july
Irish manufacturing conditions deteriorate at fastest pace since April 2013
https://www.businesstimes.com.sg/government-economy/irish-manufacturing-conditions-deteriorate-at-fastest-pace-since-april-2013
Latin America set for feeble growth of 0.5% in 2019: UN
https://www.businesstimes.com.sg/government-economy/latin-america-set-for-feeble-growth-of-05-in-2019-un
Brazil’s central bank cuts interest rates to record low
https://www.businesstimes.com.sg/government-economy/brazils-central-bank-cuts-interest-rates-to-record-low
Additional Articles of Interests – Local & Overseas Real Estate
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