DAILY NEWS

Daily News – 15th May 2019

Singapore Real Estate

Singapore condo resale prices up 0.9% in April: SRX
Resale prices for non-landed private residential units rose 0.9 per cent in April 2019, for a third straight month-on-month rise, according to SRX flash estimates on Tuesday. For the first four months of the year, non-landed resale prices were up about 2 per cent, according to data from the real estate portal.
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-up-09-in-april-srx-0
https://www.straitstimes.com/business/property/condo-resale-prices-up-09-in-april
https://www.todayonline.com/singapore/en-bloc-effect-prices-condos-non-central-locations-45-cent-srx
https://www.srx.com.sg/research/54152/non-landed-private-residential-resale-prices-rise-by-09-in-april-2019-volume-inches-up-but-still-well-below-2018

Singapore Economy

Businesses need to prepare themselves for US-China trade war fallout: Minister Chan
Singapore is not immune to the fallout from the US-China trade war, although it is still too early for the government to assess its economic impact, said Minister of Trade and Industry Chan Chun Sing late on Monday. Speaking on the sidelines of a maritime security conference, he said that with increased global downside risks, local businesses here must work to prepare themselves to deal with the impending challenges in three key areas.
https://www.businesstimes.com.sg/government-economy/businesses-need-to-prepare-themselves-for-us-china-trade-war-fallout-minister
https://www.straitstimes.com/singapore/sporeans-must-gird-themselves-for-the-long-haul-chan
https://www.channelnewsasia.com/news/singapore/singapore-must-prepare-to-deal-with-us-china-trade-war-fallout-11533274
https://www.todayonline.com/singapore/global-economic-risks-worsened-singaporeans-brace-challenges-chan-chun-sing

Companies’ Brief

CDL doubles Q1 profit to S$199.6m; invests 5.5b yuan in China property developer; CEO joins board of directors
City Developments Limited (CDL) more than doubled its net profit to S$199.6 million for its first quarter to March 31, from S$85.3 million for the year-ago period, boosted by strong profit margins for development projects and realisation of a S$144.3 million pre-tax gain from the divestment of Manulife Centre. Earnings per share was 22 Singapore cents, versus 9.4 Singapore cents previously. CDL shares were down 0.23 per cent, or S$0.02, at S$8.66 as at 9.07am.
https://www.businesstimes.com.sg/companies-markets/cdl-doubles-q1-profit-to-s1996m-invests-55b-yuan-in-china-property-developer-ceo
https://www.straitstimes.com/business/companies-markets/cdl-doubles-q1-profit-to-1996m-invests-11b-in-chinese-property-developer

Singapore’s JustCo secures three new co-working centres in Taipei
Singapore-based JustCo has expanded to Taipei, securing three new co-working centres in the Taiwanese city. The centres are located at the Xinyi, Songshan and Zhongshan financial districts, and bring the company’s portfolio to 32 centres across eight cities.
https://www.businesstimes.com.sg/real-estate/singapores-justco-secures-three-new-co-working-centres-in-taipei

WeWork’s S-E Asia MD upbeat on Singapore ops, eyes growth in region
WeWork Singapore is operationally profitable and its focus is on growth in the region, said the co-working space provider’s South-east Asia managing director Turochas Fuad. He was responding to questions on WeWork’s valuation and profitability, amid recent news of the United States company filing for an initial public offering (IPO) that may be one of the largest this year.
https://www.straitstimes.com/business/property/weworks-s-e-asia-md-upbeat-on-spore-ops-eyes-growth-in-region

Yanlord Land Q1 net profit falls 59% to 323m yuan
China-based property developer Yanlord Land on Tuesday posted a net profit of 323 million yuan (S$64.3 million) in the first quarter, down 59 per cent from the same period a year earlier. Revenue in the three months ended March 31 fell 50 per cent to 3.6 billion yuan, due to the decrease in gross floor area delivered, in line with the group’s delivery schedule for the first quarter.
https://www.businesstimes.com.sg/companies-markets/yanlord-land-q1-net-profit-falls-59-to-323m-yuan
https://www.straitstimes.com/business/property/justco-setting-up-three-centres-in-taipei

Views, Reviews, Forum & Others

Call for creative ideas to revamp state sites
A new initiative is calling for creative proposals to reimagine state properties and land parcels into new spaces. Called Reinventing Spaces Into Vibrant Places, the initiative was jointly launched by the Urban Redevelopment Authority and Singapore Land Authority yesterday.
https://www.straitstimes.com/singapore/call-for-creative-ideas-to-revamp-state-sites
https://www.straitstimes.com/singapore/wanted-ideas-for-new-use-of-6-sites-going-up-for-tender