DAILY NEWS

Daily News – 15 Nov 2019

Singapore Real Estate

Taking digital route to book new homes cuts transaction time for bookings
Over 1,000 units and US$1 billion worth of new homes were booked since August last year through a digital booking platform by proptech firm Showsuite, which helps to cut down the average booking transaction time by going paperless. Since the majority of a buyer’s particulars can be recorded digitally before the expression of interest stage, the average booking transaction time at a property launch is…
https://www.businesstimes.com.sg/real-estate/taking-digital-route-to-book-new-homes-cuts-transaction-time-for-bookings

Number of fatal workplace accidents caused by falling from heights down from 24 to 8 in past 10 years
Singapore — The number of fatal accidents caused by falling from heights has dropped drastically over the last 10 years, but this continues to be one of the leading causes of injuries at the workplace, Minister of State for Manpower Zaqy Mohammad said on Thursday (Nov 14). However, Mr Zaqy, who is also the Minister of State for National Development, said he is confident that Singapore can achieve its Workplace…
https://www.todayonline.com/singapore/number-fatal-workplace-accidents-caused-falling-heights-down-24-8-past-10-years

Singapore Economy

Singapore touted as capital markets model for developing nations
[Singapore] Singapore is turning out to be a model of capital-market development for some countries in the Middle East and Africa, according to Michael Piwowar, former commissioner at the US Securities and Exchange Commission. The city-state’s legal and institutional framework offers a good example for some developing markets, particularly because it isn’t over-regulated like the US, Mr Piwowar said in an…
https://www.businesstimes.com.sg/government-economy/singapore-touted-as-capital-markets-model-for-developing-nations

Companies’ Brief

New units from MCT’s preferential offering to start trading on Friday
Some 205.6 million new units in Mapletree Commercial Trust (MCT) will be listed on the Singapore bourse at 9am on Friday, as a result of the trust’s preferential offering. These new units will rank pari passu in all respects with the existing units in issue on Nov 14, the manager said.
https://www.businesstimes.com.sg/companies-markets/new-units-from-mcts-preferential-offering-to-start-trading-on-friday

OUE Q3 profit surges to S$124.1m after OUE C-Reit, OUE H-Trust merger
OUE Limited’s third-quarter net profit surged to S$124.1 million, almost 60 times that of the S$2.1 million net profit for the year-ago period due to higher earnings before interest and taxes (Ebit) and a one-off non-cash gain of S$90.9 million arising from the merger of OUE Commercial Real Estate Investment Trust (OUE C-Reit) and OUE Hospitality Trust (OUE H-Trust). For the quarter ended Sept 30, earnings per share was…
https://www.businesstimes.com.sg/companies-markets/oue-q3-profit-surges-to-s1241m-after-oue-c-reit-oue-h-trust-merger
https://www.straitstimes.com/business/companies-markets/oue-q3-profit-soars-to-1241m-on-one-off-gain-from-oue-c-reit-oue-h-trust

Tiong Seng to set up construction robotics lab with Ngee Ann Poly
Mainboard-listed Tiong Seng Holdings has inked a five-year collaboration with Ngee Ann Polytechnic to set up a construction robotics lab on the school’s campus. The partners will work on applied research and development (R&D) in the field of industrial-grade robotics for the construction industry.
https://www.businesstimes.com.sg/companies-markets/tiong-seng-to-set-up%C2%A0construction-robotics-lab-with-ngee-ann-poly

Fragrance Group Q3 revenue sinks but profit jumps to S$98.4m on fair value gain
Property developer Fragrance Group on Thursday night posted a net profit of S$98.4 million for the third quarter, which is about 41 times that of the S$2.4 million profit in the year-ago period. This was despite revenue tumbling 64.6 per cent for the quarter.
https://www.businesstimes.com.sg/companies-markets/fragrance-group-q3-revenue-sinks-but-profit-jumps-to-s984m-on-fair-value-gain
https://www.straitstimes.com/business/companies-markets/fragrance-group-q3-revenue-sinks-but-profit-jumps-to-984m-on-fair-value