DAILY NEWS

Daily News – 12th September 2017

Singapore Economy

Q4 business sentiment dips but industry watchers remain upbeat
Business sentiment among local companies has eased for the fourth quarter of 2017, but still remains in positive territory, according to the latest Business Optimism Index study by the Singapore Commercial Credit Bureau (SCCB). The index fell from +3.58 percentage points in Q3 2017 to +2.60 percentage points in Q4. It was also lower compared to the +2.87 percentage points in the same period a year ago.
http://www.businesstimes.com.sg/government-economy/q4-business-sentiment-dips-but-industry-watchers-remain-upbeat
http://www.straitstimes.com/business/economy/spore-firms-upbeat-even-as-q4-outlook-dips

Singapore top Asian investor in US after Japan, with US$73.6b of FDI
Singapore’s direct investments in the US has turned out to be a classic case of the tortoise and the hare. While the yearly investment flow data may not show it, cumulatively, Singapore is now the biggest Asian investor in the world’s biggest economy after Japan, according to the US Department of Commerce.
http://www.businesstimes.com.sg/government-economy/singapore-top-asian-investor-in-us-after-japan-with-us736b-of-fdi

Singapore Real Estate

HDB industrial site transfer: Most tenants won’t pay higher rents
The transfer of industrial land and properties under the Housing Board (HDB) to JTC Corporation will not translate into higher rents for most tenants and lessees, said Minister for Trade and Industry (Trade) Lim Hng Kiang. HDB and JTC rents are set based on similar principles and are in line with market rates, he told Parliament during yesterday’s debate on the Jurong Town Corporation (Amendment) Bill.
http://www.straitstimes.com/business/property/hdb-industrial-site-transfer-most-tenants-wont-pay-higher-rents

Petition for more inclusive housing policies
Mr Louis Ng (Nee Soon GRC) yesterday submitted a petition to Parliament that called for more inclusive housing policies that will cover unmarried and divorced parents as well. The petition, which he filed on behalf of seven single parents, looks to make changes to the Housing and Development Act to rule out discrimination based on marital status. Mr Ng said: “The petitioners allege that the current provisions on public housing are not inclusive.”
http://www.straitstimes.com/singapore/petition-for-more-inclusive-housing-policies
http://www.channelnewsasia.com/news/singapore/mp-louis-ng-submits-petition-for-inclusive-public-housing-for-9205226
http://www.todayonline.com/singapore/mp-louis-ng-petitions-single-parents-get-equal-public-housing-rights

Safety focus in tweaks to law on managing strata-titled units
Proposed changes to the Building Maintenance and Strata Management Act are meant to strike a balance between protecting subsidiary proprietors’ interests and preserving the self-governing nature of community-based property ownership.
http://www.straitstimes.com/politics/singapolitics/safety-focus-in-tweaks-to-law-on-managing-strata-titled-units
http://www.todayonline.com/singapore/amended-act-aims-improve-running-property-management-organisations

Companies’ Brief

Frasers Centrepoint buys 4 business parks in UK
Frasers Centrepoint Limited (FCL) has agreed to buy four business parks in the United Kingdom from Oaktree Capital Management LP for about £686 million (S$1.2 billion), a move that marks the property group’s foray into a new market segment. On Monday, FCL announced that the acquisition comprises 4.9 million square feet of built area across four freehold business park assets: Winnersh Triangle in Reading, Chineham Park in Basingstoke, Watchmoor Park in Camberley and Hillington Park in Glasgow.
http://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-buys-4-business-parks-in-uk
http://www.straitstimes.com/business/fcl-buys-4-business-parks-in-britain

Views, Reviews & Forum

Future of HDB construction
The use of Lego-like technology in construction is set to become more pervasive. The Housing Board announced last week that from 2019, all rooms in one-third of new HDB flats launched will be prefabricated as a whole. Rooms will be built in their entirety in factories, shipped over to sites and then stacked like building blocks. They will come with finishes such as floor tiles, window frames, flooring and a coat of paint.
http://www.straitstimes.com/singapore/housing/future-of-hdb-construction?login=true

Windfall gains from en-bloc fever are likely to be capped
Recent evidence suggests that the en-bloc fever in Singapore’s residential property market is hotting up again. Since last year, a total of 17 residential collective sale sites have been launched, covering more than 3,140 units, according to research by property consulting firm JLL. In value terms, the deals concluded during the first eight months of 2017 totalled about S$3.5 billion across all property sectors, the highest since 2007 – although the figure is well short of 2007’s S$11.5 billion worth of deals done. But the pick-up in en-bloc sentiment is unmistakable. The aggregate transaction value for 2017 to date is already more than three times what it was in 2016. Moreover, some 50 to 60 additional en-bloc deals are said to be at various stages of completion.
http://www.businesstimes.com.sg/opinion/windfall-gains-from-en-bloc-fever-are-likely-to-be-capped