DAILY NEWS

Daily News – 11th October 2017

Top Story

Analysts take heart in SRX condo resale data for September
SRX Property’s flash estimates for September showed its overall resale price index for non-landed private homes inching up just 0.1 per cent over August while transaction volumes shrank 10.9 per cent. However, market watchers shrugged off slower sales as the Hungry Ghost Month effect. ZACD Group executive director Nicholas Mak said the 142-unit decline in SRX’s estimated resale volume for non-landed private homes to 1,162 units in September from August’s 1,304 units is not alarming as the September figure is about the same as in June and July this year. This year’s Hungry Ghost festival ended on Sept 19.
http://www.businesstimes.com.sg/real-estate/analysts-take-heart-in-srx-condo-resale-data-for-september
http://www.straitstimes.com/business/property/private-home-resale-prices-up-01-in-sept
http://www.todayonline.com/singapore/resale-prices-non-landed-private-homes-01-sept-srx-property https://www.srx.com.sg/research/41432/private-resale-non-landed-prices-inch-up-01-in-september-volume-decreases-by-109

China can hit or even beat 6.5% growth target: Official
China is on track to meeting its growth target of around 6.5 per cent this year, and could well exceed it, a senior economic official said, while giving a glowing report of the country’s economic performance over the past five years. The average annual growth rate from 2013 to last year was 7.2 per cent, said Mr Ning Jizhe, head of the National Statistics Bureau.
http://www.straitstimes.com/asia/east-asia/china-can-hit-or-even-beat-65-growth-target-official?login=true
http://www.straitstimes.com/asia/east-asia/fixing-economy-debt-will-be-xis-next-focus-experts
http://www.businesstimes.com.sg/government-economy/china-set-to-meet-or-even-beat-2017-growth-target-of-65

Singapore Economy

Singapore, Asia investors bank on US stocks in Q2 as others scale down
While the rest of the world was winding down its shopping spree on Wall Street in the April-June quarter, Singapore investors, along with other major Asian investors, seemed to start picking up bargains. Meanwhile, their American counterparts have stepped up spending in stock markets outside the United States, including the Singapore Exchange, according to the latest data released by the US Treasury.
http://www.businesstimes.com.sg/government-economy/singapore-asia-investors-bank-on-us-stocks-in-q2-as-others-scale-down

Singapore Real Estate

SMU, Spring, EDB launch retail industry development centre
Singapore Management University (SMU), Spring Singapore and the Economic Development Board (EDB) have jointly launched the Retail Centre of Excellence (RCoE) to offer research and insight into Singapore’s retail industry. The Centre will be housed at SMU’s Lee Kong Chian School of Business, and is led by SMU marketing professor Kapil Tuli.
http://www.businesstimes.com.sg/government-economy/smu-spring-edb-launch-retail-industry-development-centre
http://www.straitstimes.com/singapore/sharpening-retail-sectors-competitive-instincts

Companies’ Brief

Frasers Centrepoint unit to buy 3 firms in Germany
Frasers Centrepoint’s indirect subsidiary Frasers Property Investments (Europe) has, through its wholly owned subsidiaries, entered into a conditional sale and purchase agreement to acquire three companies in Germany for 42.4 million Euros (about S$67.83 million).
http://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-unit-to-buy-3-firms-in-germany

First Reit completes Siloam Hospitals Buton, Lippo Plaza Buton purchase
First Real Estate Investment Trust (First Reit) has completed its acquisition of Siloam Hospitals Buton and Lippo Plaza Buton, it announced on the Singapore Exchange late on Tuesday. This meant that First Reit’s portfolio has grown and is now made up of 19 properties located in Indonesia, Singapore and South Korea.
http://www.businesstimes.com.sg/companies-markets/first-reit-completes-siloam-hospitals-buton-lippo-plaza-buton-purchase

GRP to take up 51% stake in Malaysian property development firm
GRP Limited has agreed to take up a 51 per cent stake in Multiple Lodge Sdn Bhd (MLodge), a property development company in Malaysia, for RM510,000 or S$164,516. A shareholders’ agreement was entered into between GRP’s indirect wholly owned subsidiary GRP Developments Sdn Bhd and four individuals who own the 51 per cent stake in MLodge on Tuesday, the group said.
http://www.businesstimes.com.sg/companies-markets/grp-to-take-up-51-stake-in-malaysian-property-development-firm

Views, Reviews & Forum

Open-design condos may not work
I have serious reservations about the direction for condominiums here (Future condos could have open design, fewer fences; Oct 2). I reside in a mature condo estate in River Valley and, from time to time, I would encounter outsiders as well as visitors of residents in our gym and swimming pool. Our condo has had to step up security and take other stringent actions in an attempt to put a stop to this.
http://www.straitstimes.com/forum/letters-in-print/open-design-condos-may-not-work