DAILY NEWS

Daily News – 12 May 2022 (Thu)

Singapore Real Estate

Foreign buyers return to property market in April, after Q1 pullback
As quarantine-free travel returns, private home purchases by foreign buyers are expected to gradually gain momentum, although analysts also flagged headwinds such as economic uncertainties and currency fluctuations as factors to watch.
https://www.businesstimes.com.sg/real-estate/foreign-buyers-return-to-property-market-in-april-after-q1-pullback

4 floors at 20 Cecil St on the market at S$75.9m
A portfolio of office units spanning across 4 levels in 20 Cecil Street has been put up for sale with a guide price of S$75.9 million. The guide price for the total of 22 strata units across the 4 levels translates to approximately S$3,100 per square foot (psf), based on the strata area, marketing agent CBRE said on Wednesday (May 11).
https://www.businesstimes.com.sg/real-estate/4-floors-at-20-cecil-st-on-the-market-at-s759m

Companies’ Brief

Amara appoints 3 new independent directors, makes changes to committees
The board of property developer and hotel group Amara Holdings has appointed Bill Chua Teck Huat, Ginney Lim May Ling and George Seow Ewe Keong as its independent directors (IDs), on the recommendation of its nominating committee (NC).
https://www.businesstimes.com.sg/companies-markets/amara-appoints-3-new-independent-directors-makes-changes-to-committees

ERA, Huttons, PropNex, Savills to own Real Estate Analytics shares with SoReal deal
Data and artificial intelligence (AI) provider Real Estate Analytics has acquired Singapore property technology (proptech) firm SoReal Prop in a cash-and-equity deal. The deal value and other details were not disclosed.
https://www.businesstimes.com.sg/companies-markets/era-huttons-propnex-savills-to-own-real-estate-analytics-shares-with-soreal-deal

Frasers Property H1 profit down 42.6% to S$158.2m due to previous one-off gain
Frasers Property posted a 42.6 per cent decline in profit to S$158.2 million for its second half ended Mar 31, 2021, from S$275.8 million a year ago. In the previous corresponding period, the property company recorded a gain on the change in use of a portfolio of industrial properties…
https://www.businesstimes.com.sg/companies-markets/frasers-property-h1-profit-down-426-to-s1582m-due-to-previous-one-off-gain

CapitaLand Investment Q1 revenue up 16% to S$598m on growth in fund, lodging management units
CapitaLand Investment (CLI) posted a 16 per cent growth on year in revenue to S$598 million for its first quarter ended Mar 31, 2022, amid a healthy growth in fee-related earnings (FRE) from its fund and lodging management businesses.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-q1-revenue-up-16-to-s598m-on-growth-in-fund-lodging
https://www.straitstimes.com/business/companies-markets/capitaland-investment-q1-revenue-up-16-on-growth-in-fund-lodging-management-units

Views, Reviews, Forum and Others

Increasing monetary policy flexibility with a retail CBDC
In the past week, the Bank for International Settlements (BIS) released the results of a survey on Central Bank Digital Currency (CBDC). Two-thirds of 81 central banks are actively interested in CBDCs, with many currently developing or testing retail CBDCs. The survey shows monetary policy implementation as a key motivation for the central banks to consider retail CBDC issuance.
https://www.businesstimes.com.sg/opinion/increasing-monetary-policy-flexibility-with-a-retail-cbdc

Update on COVID-19 (Coronavirus Disease 2019) situation

Weekly Covid-19 infection rate rises to 1.76 in Singapore, 3,890 new cases
The Covid-19 weekly infection growth rate inched towards 2, as a rate of 1.76 was recorded on Wednesday (May 11). This rate is up from 1.49 reported on Tuesday and more than twice last Wednesday’s (May 4) ratio of 0.7.
https://www.businesstimes.com.sg/government-economy/weekly-covid-19-infection-rate-rises-to-176-in-singapore-3890-new-cases
https://www.straitstimes.com/singapore/community/spore-covid-19-cases-fall-but-week-on-week-infection-rate-rises

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation