DAILY NEWS

Daily News – 13th March 2018

Top Story

En bloc fever may help boost lacklustre Singdollar bond market
The en bloc fever of 2017 may help uplift the lacklustre Singdollar bond market which has been hit by interest rate volatility though strong issuers continue to get their deals done. On Monday, the Land Transport Authority of Singapore sold a bumper S$1.2 billion worth of bonds, comprising two tranches, a 10-year S$300 million and 30-year S$900 million bonds at 2.75 per cent and 3.35 per cent respectively.
http://www.businesstimes.com.sg/banking-finance/en-bloc-fever-may-help-boost-lacklustre-singdollar-bond-market

Property agencies’ Big 3 join forces in online platform
In a marked showing of solidarity among industry rivals in the face of disruption, Singapore’s three largest property agencies have teamed up for the first time to launch an online platform for agents and consumers. They seek to provide real-time accurate information for agents and consumers and, in the long-run, provide the industry with a more streamlined transaction process between salespeople and consumers.
http://www.businesstimes.com.sg/real-estate/property-agencies-big-3-join-forces-in-online-platform
http://www.straitstimes.com/business/three-agencies-tie-up-to-launch-property-platform
https://www.channelnewsasia.com/news/singapore/property-app-for-buyers-and-sellers-to-rate-agents-view-listings-10036492

SINGAPORE ECONOMY

Singapore firms to get direct access to Bangladeshi infrastructure projects
Singapore companies will be able to capture opportunities in fast-growing Bangladesh as International Enterprise (IE) Singapore partners the country’s Public Private Partnership Authority (PPPA) and Bangladesh Investment Development Authority (Bida) to ease the market entry process, the agency said on Monday.
http://www.businesstimes.com.sg/government-economy/singapore-firms-to-get-direct-access-to-bangladeshi-infrastructure-projects
http://www.straitstimes.com/politics/singapore-firms-urged-to-look-to-bangladesh-market
http://www.straitstimes.com/singapore/bangladesh-spore-keen-to-boost-links-for-mutual-benefit

Budget 2018 paves the way for tomorrow’s bold new partnerships
By encouraging Singaporean firms to create global value through partnerships forged at home and abroad, Budget 2018 lays the foundation for the next phase of national growth. In his budget speech on Feb 19, Finance Minister Heng Swee Keat stressed the need to strengthen and create an even more vibrant economy driven by innovation, deepening of capabilities, and partnerships.
http://www.businesstimes.com.sg/sme/budget-2018-paves-the-way-for-tomorrows-bold-new-partnerships

Singapore’s retail sales drop 8.4% in January on Chinese New Year effect
Retail sales in the first month of 2018 got off to a poor start, but this was attributed to the Chinese New Year effect. Total sales in January declined 8.4 per cent year-on-year from January 2017, which was when Chinese New Year was celebrated last year, according to the latest data from the Department of Statistics. Excluding motor vehicles, retail sales still fell 8.1 per cent.
http://www.businesstimes.com.sg/government-economy/singapores-retail-sales-drop-84-in-january-on-chinese-new-year-effect
http://www.straitstimes.com/business/economy/january-retail-sales-fall-84-due-to-cny-effect

SINGAPORE REAL ESTATE

Lendlease upbeat about take-up at Park Place Residences for Phase 2
Australian-listed developer Lendlease is hoping to replicate its success achieved during the Phase One sales of Park Place Residences at Paya Lebar Quarter (PLQ) last year. Then, 210 units, or about half of the total units of the 99-year leasehold private condominium, were snapped up within the first day of sales. This also exceeded the inital 40 per cent Lendlease had projected.
http://www.businesstimes.com.sg/real-estate/lendlease-upbeat-about-take-up-at-park-place-residences-for-phase-2
http://www.straitstimes.com/business/property/lendlease-upbeat-on-sales-at-paya-lebar-condo

COMPANIES’ BRIEF

Perennial to acquire Capitol project after S$528m buy-out
Perennial Real Estate Holdings is set to walk away as the sole owner of the iconic Capitol Singapore project, after a business kerfuffle held up the development of the heritage site. Mainboard-listed Perennial will buy out its co-owner, Pontiac Land Group affiliate Chesham Properties, to the tune of roughly S$528 million.
http://www.businesstimes.com.sg/real-estate/perennial-to-acquire-capitol-project-after-s528m-buy-out
http://www.straitstimes.com/business/companies-markets/perennial-to-take-reins-of-capitol-project-after-528m-buyout

Lian Beng Group unit intending to acquire Joo Chiat property for S$27m
A wholly-owned unit of Lian Beng Group is intending to purchase a four-storey commercial building in Joo Chiat for S$27 million that is to be satisfied in cash. On Monday, the construction cum property developer group said in a Singapore Exchange filing that Lian Beng (Joo Chiat) had on the same day accepted the purchase option granted by TTAT Investment for the proposed acquisition.
http://www.businesstimes.com.sg/real-estate/lian-beng-group-unit-intending-to-acquire-joo-chiat-property-for-s27m

Oxley in final talks to sell 300-year lease of building in Dublin project
Oxley Holdings is in the final stage of negotiations to sell a 300-year lease of a building in its mixed-use development Dublin Landings in Ireland. Dublin Landings, which was launched in October 2016, is situated along Dublin’s North Wall Quay. The project will consist of Grade A office and retail space, and luxury residential apartments.
http://www.businesstimes.com.sg/companies-markets/oxley-in-final-talks-to-sell-300-year-lease-of-building-in-dublin-project
http://www.straitstimes.com/business/companies-markets/oxley-in-final-talks-to-sell-300-year-lease-of-building-in-dublin-project

VIEWS, REVIEWS, FORUM & OTHERS

Property frenzy a big worry
That home prices are firmly on the uptrend on the back of improving sentiment and economic growth is no longer in doubt. The more pertinent question is: Are we witnessing a gentle recovery, which is seen as the preferred outcome for policymakers?
http://www.straitstimes.com/business/property/property-frenzy-a-big-worry