DAILY NEWS

Daily News – 15th Aug 2019

Singapore Real Estate

Escalating US-China dispute will weigh on Singapore retail, industrial property markets: Colliers
Threats from frayed US-China trade relations and a gloomy economic outlook could stifle any recovery for Singapore’s retail and industrial property markets in the near term, according to two research reports released by Colliers International on Wednesday. Both reports examined the performance and outlook for Singapore’s two property segments during the first half this year.
https://www.businesstimes.com.sg/real-estate/escalating-us-china-dispute-will-weigh-on-singapore-retail-industrial-property-markets
https://www.straitstimes.com/business/property/retail-industrial-property-markets-set-to-feel-the-heat

Singapore condo resale prices ease further in July: SRX
Resale prices of condominium units in Singapore dipped again in July for the second consecutive month, while volume of sales surged by almost one-third, according to monthly figures from real estate portal SRX Property on Wednesday. Overall condo resale prices were down 0.5 per cent in July from the previous month. June had seen a 0.4 per cent decline from the peak in May, breaking an upward trend that had lasted four months.
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-ease-further-in-july-srx
https://www.straitstimes.com/business/property/condo-resale-prices-dip-again-but-sales-surge

S$210m sale of Anson House completed
Hong Kong-based fund manager Arch Capital Management completed the acquisition of Anson House for S$210 million on Wednesday. The price works out to S$2,435 per square foot based on the 13-storey building’s net lettable area (NLA) of 86,239 sq ft.
https://www.businesstimes.com.sg/real-estate/s210m-sale-of-anson-house-completed

Stephen Riady buys GCB from OUE unit for S$95m
Property developer OUE’s executive chairman and controlling shareholder Stephen Riady is buying a good class bungalow at Nassim Road from an OUE subsidiary for S$95 million, OUE announced in a regulatory filing on Wednesday night. OUE’s indirect wholly-owned unit OUE Reef Development has entered a sale and purchase agreement with Dr Riady for the 3,182 sq m plot at 26A Nassim Road and the property on it.
https://www.businesstimes.com.sg/companies-markets/stephen-riady-buys-gcb-from-oue-unit-for-s95m
https://www.straitstimes.com/business/companies-markets/tycoon-stephen-riady-buys-good-class-bungalow-from-oue-unit-for-95m

Six shophouses along Kampong Bahru up for sale with S$39.6m guide price
A row of six adjoining conservation shophouses along Kampong Bahru Road has been launched for sale at a guide price of S$39.6 million, or about S$6.6 million each, marketing agents JLL and Tuscany Realty announced in a press statement on Wednesday. Located at 69, 71, 73, 75, 77 and 79 Kampong Bahru Road near Outram MRT station, the six freehold two-storey shophouses can be sold either individually…
https://www.businesstimes.com.sg/real-estate/six-shophouses-along-kampong-bahru-up-for-sale-with-s396m-guide-price%C2%A0-0
https://www.straitstimes.com/business/property/6-shophouses-in-kampong-bahru-up-for-sale-at-396m

Singapore Economy

Singapore seen as second in region for Belt and Road opportunities: survey
Vietnam, Singapore and Indonesia are seen as the markets in Asean and South Asia with the most opportunities related to China’s Belt and Road Initiative (BRI), according to a survey by the Singapore Business Federation (SBF) and PwC Singapore. Vietnam was named by 66 per cent of respondents as a country where their firm “primarily sees BRI opportunities”, while Singapore and Indonesia were each…
https://www.businesstimes.com.sg/government-economy/singapore-seen-as-second-in-region-for-belt-and-road-opportunities-survey

Companies’ Brief

CapitaLand invests S$5m for staff to upgrade digital skills over next 2 years
[Singapore] Real estate developer CapitaLand’s more than 2,600 employees in Singapore will get more help to improve their digital skills over the next two years. They will receive a training allowance of up to S$500 each which includes a one-year membership to an e-learning platform, as well as one day of training leave that they can use for external digital-related courses through the MySkillsFuture portal.
https://www.businesstimes.com.sg/companies-markets/capitaland-invests-s5m-for-staff-to-upgrade-digital-skills-over-next-2-years
https://www.straitstimes.com/business/capitaland-pumps-5m-into-upgrading-staffs-digital-skills

OUE C-Reit, OUE H-Trust’s S$1.49b merger approved by holders
The proposed merger of OUE Commercial Real Estate Investment Trust (C-Reit) and OUE Hospitality Trust (H-Trust), via a trust scheme of arrangement, was approved by holders of both trusts on Wednesday. C-Reit unitholders and H-Trust stapled security holders gave the green light on all resolutions pertaining to the merger at separate extraordinary general meetings (EGMs) during the day, according to bourse filingS…
https://www.businesstimes.com.sg/companies-markets/oue-c-reit-oue-h-trust-merger-approved

Hong Fok Q2 profit slumps 42% to S$2.3m
Property developer Hong Fok Corporation’s net profit almost halved for the second quarter ended June 30, falling 42 per cent to S$2.3 million from S$4.1 million a year ago. Earnings per share came in at 0.34 Singapore cent for the quarter, down from 0.59 cent for the corresponding period last year, according to the group’s filing on Wednesday night.
https://www.businesstimes.com.sg/companies-markets/hong-fok-q2-profit-slumps-42-to-s23m
https://www.straitstimes.com/business/companies-markets/hong-fok-q2-profit-slumps-42-to-23m

Banyan Tree widens losses on weaker hotel, property business
Resort operator Banyan Tree Holdings sank further into the red on Wednesday, posting losses of S$7.9 million for the second quarter, versus S$5.4 million a year ago. This came as revenue slid 24 per cent to S$51.8 million, dragged by a sluggish hotel business and fewer property sales recognised.
https://www.businesstimes.com.sg/companies-markets/banyan-tree-widens-losses-on-weaker-hotel-property-business

Local smart-living management company looks to expand overseas
Imagine you have left the office on a hot day, and can turn on the air conditioner to cool down your home by simply sending a WhatsApp message from your cellphone. Or being able to turn on the water heater for your morning shower without even getting out of bed.
https://www.businesstimes.com.sg/real-estate/local-smart-living-management-company-looks-to-expand-overseas

Views, Reviews, Forum & Others

As Singapore infrastructure goes underground
It is estimated that by 2050, 70 per cent of the world’s population will live in urban spaces, creating more megacities with limited space, facilities, and supporting infrastructure. Underground spaces are becoming an increasingly viable solution to this urban challenge. Utilising underground spaces is not something new – for years, these spaces have been used to house industry, utility and transport infrastructure in the heart…
https://www.businesstimes.com.sg/opinion/as-singapore-infrastructure-goes-underground