Singapore Real Estate
Data centres are niche no longer
MORE than US$100 billion has flowed into the data centre ecosystem in the past decade, with pension funds, private equity firms, infrastructure funds, sovereign wealth funds and many other organisations recognising the growth potential of this sector. This capital has allowed the industry to expand at a lower cost as many funds have taken ownership positions in new companies rather than acquiring data centres asset by asset. These funds have been looking to deploy a similar amount of capital if attractive opportunities arise.
Budget 2020 to be delivered at 3pm on Feb 18; feedback sessions could be affected by coronavirus outbreak
Singapore – This year’s Budget statement will be delivered next Tuesday (Feb 18) at 3pm by Deputy Prime Minister and Minister for Finance Heng Swee Keat. The rapidly evolving coronavirus situation, however, means post-Budget dialogues and engagement plans – such as “chit-chat sessions”- with residents typically organised by the People’s Association (PA) and grassroots organisations to gather feedback could need adjustments. The Ministry of Finance (MOF), PA and government feedback unit Reach said in a joint statement on Monday that they will keep those interested in the post-Budget feedback sessions updated on the arrangements on their websites or social media channels.
Singapore firms face supply delays as factories remain closed in China
Manufacturers in Singapore had been waiting for factories in China to reopen yesterday after the extended Chinese New Year shutdown due to the coronavirus outbreak which originated in Wuhan. But many facilities remained shuttered yesterday, with production lines ground to a halt. Materials that were completed before the shutdown sat waiting to be delivered. Even factories that opened were understaffed, with workers under quarantine or lockdown.
UK keen on digital economy partnership with Singapore
Britain is looking at the digital economy as an area in which it can strengthen its relationship with Singapore as it negotiates a new post-Brexit trade deal with the Republic. British Foreign Secretary Dominic Raab said that while the new deal will be based on the European Union-Singapore Free Trade Agreement (FTA), a digital economy partnership can help take the relationship between the two countries to the next level.
Lendlease Global Reit posts DPU of 1.29 S cents, 3.1% above IPO forecast
Lendlease Global Commercial Reit (Lendlease Global Reit) on Monday reported a distribution per unit (DPU) of 1.29 Singapore cents for its second quarter, from its listing date Oct 2 to Dec 31. The DPU is 3.1 per cent higher than its initial public offering (IPO) forecast of 1.25 cents. It will be paid on March 16, after books closure on Feb 18. Distributable income came in at S$15 million for the quarter, 2.4 per cent higher than forecast.
Oxley’s Q2 earnings dive 90%
Mainboard-listed developer Oxley Holdings saw its second-quarter earnings decimated by a sharp decrease in other gains, on the absence of a fair-value gain as an investment property in Dublin was revalued, according to results posted on Monday. The group’s second-quarter net profit plummeted by 90 per cent year-on-year to S$3.56 million for the three months to Dec 31, 2019.
Soilbuild Construction bags S$48.3m contract from chairman’s company
Mainboard-listed Soilbuild Construction Group has won a contract – to build an apartment block in the Novena area – from a company owned by executive chairman Lim Chap Huat. The contract, which is worth S$48.3 million, falls under the interested-person transaction mandate renewed by shareholders at the annual general meeting in April 2019, the board disclosed on Monday.
OUE to buy 88.43% stake in Indonesian coffee chain for 229b rupiah
Mainboard-listed OUE inked a deal on Monday to take a majority stake in Indonesian company Maxx Coffee Prima, which runs the Maxx coffee chain in Indonesia and Singapore. OUE’s wholly-owned Oddish Ventures unit will pay 229 billion rupiah (S$23.2 million) in cash to buy a 88.43 per cent stake from two firms, Inti Anugerah Pratama and Ciptadana Capital.
Views, Reviews, Forum & Others
Virus outbreak to take centre stage at local banks’ FY19 results briefings
The focus of the upcoming Singapore banks’ results will likely centre on the impact of the deadly novel coronavirus outbreak, with global growth expected to slow as China – the world’s second largest economy – takes a hard hit. As it is, DBS, OCBC and UOB are projected to see continued pressure on margins and sequentially moderated earnings in the last quarter of 2019, even as analysts have raised the odds of higher dividends by the Singapore banks that should buoy interest in the trio.
Numerous Singapore listcos report disrupted operations in China
A slew of Singapore-listed companies on Monday reported disruptions to their China operations from the mystery virus epidemic that has killed close to a thousand people there. Manufacturers and retailers told shareholders in bourse filings that they have had to close factories and stores at the local authorities’ behest.
Will Trump be the master survivor on the back of a buoyant economy?
It was not long ago when the conventional wisdom was that Donald Trump would be a one-term president and that, in fact, he probably would not serve a full term in office. Indeed, Congressional Democrats have taken advantage of a series of scandals involving him, by employing the tools provided by the US Constitution to drive the president out of office.
Update on 2019 Novel Coronavirus (2019-nCoV) Situation
S’pore’s approach a model for other countries, say experts
Coronavirus: Singapore firms ramp up efforts to contain spread of virus
Coronavirus patients may be mildly ill for more than a week before condition becomes severe
Singapore’s financial district on high alert as infections surface there
Global Economy & Global Real Estate
Fed may need to act if coronavirus takes toll on US economy, but not yet, say central bank officials
China gradually getting back to work after outbreak measures eased
Chinese New Year, coronavirus push up China’s consumer prices in January
Why adopting circular economy practices can lead to growth
Australian business conditions, confidence stay lacklustre in Jan
UK shoppers still wary about spending in January: BRC
Singapore companies running malls and stores in China affected
California homebuilders rush to avoid solar mandate
Airbnb freezes Beijing check-ins until March to curb spread of virus
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