DAILY NEWS

Daily News – 16th Aug 2019

Singapore Real Estate

New launches, affordability help property buck economic gloom
Property seems to be bucking the general gloom that has beset most sectors of Singapore’s economy. Based on government data released on Wednesday, developers’ overall housing sales volume for July 2019 was the highest in 12 months. The rosy picture came amid new launches last month, particularly of Piermont Grand and One Pearl Bank, which were well-received.
https://www.businesstimes.com.sg/real-estate/new-launches-affordability-help-property-buck-economic-gloom
https://www.straitstimes.com/business/property/private-home-sales-up-435-in-july-with-1178-units-sold
https://www.channelnewsasia.com/news/singapore/july-private-home-sales-highest-this-year-launch-ec-11810780
https://www.todayonline.com/singapore/private-home-sales-surge-july-analysts-say-outlook-uncertain-amid-economic-downturn

Singapore condo rents recover slightly in July; HDB rents stable: SRX
Rents of condominiums in Singapore inched up in July after two straight months of decline, while those of HDB flats held largely steady from June, according to monthly flash data from real estate portal SRX Property released on Thursday. The number of units leased also saw a month-on-month increase for both condos and HDBs.
https://www.businesstimes.com.sg/real-estate/singapore-condo-rents-recover-slightly-in-july-hdb-rents-stable-srx-0
https://www.straitstimes.com/business/property/condo-rents-recover-slightly-while-hdb-rents-stay-flat
https://www.srx.com.sg/research/55421/rental-volumes-up-non-landed-rents-increase-hdb-rents-flat

Singapore Economy

Singapore July non-oil exports fall less sharply than previous 2 months at 11.2%
Singapore’s non-oil domestic exports (NODX) continued to fall in July, but less sharply. After dropping 16.3 per cent year on year in May and 17.4 per cent in June, the NODX slipped 11.2 per cent last month – against a 15.4 per cent median estimate by private sector economists. Month on month, the NODX even reversed the previous month’s 7.8 per cent decline to post a seasonally adjusted 3.7 per cent growth in…
https://www.businesstimes.com.sg/government-economy/singapore-july-non-oil-exports-fall-less-sharply-than-previous-2-months-at-112
https://www.straitstimes.com/business/economy/singapore-non-oil-exports-drop-112-in-july-in-5th-month-of-contraction
https://www.channelnewsasia.com/news/business/singapore-s-exports-down-11-2-in-july-11814010
https://www.todayonline.com/singapore/singapore-july-exports-shrink-fifth-straight-month

Singapore firms can be go-to partners for infrastructure projects
As Asian countries pursue regional collaborations to drive economic growth, Singapore has much to contribute in the way of specialised expertise and innovative solutions to infrastructure projects, said speakers at the fifth Singapore Regional Business Forum on Thursday. In his welcome address, Singapore Business Federation (SBF) chairman SS Teo noted that companies here have a wealth of experience…
https://www.businesstimes.com.sg/government-economy/singapore-firms-can-be-go-to-partners-for-infrastructure-projects

Companies’ Brief

Lucas Loh replaces Lee Chee Koon as a board director of CapitaLand Retail China Trust
The manager of CapitaLand Retail China Trust on Thursday announced the appointment of Lucas Loh, president, China, of CapitaLand group, as non-executive non-independent director and chairman of the executive committee. Mr Loh, 53, oversees the business in China, a core geographical market for the group.
https://www.businesstimes.com.sg/companies-markets/lucas-loh-replaces-lee-chee-koon-as-a-board-director-of-capitaland-retail-china

S-Reit Index’s 5 best performers averaged 47% YTD return: SGX
The five best-performing constituents of the iEdge S-Reit Index averaged a total return of 47.4 per cent in the first seven months this year, the Singapore bourse said in a research note on Thursday. The five Reits (real estate investment trusts) were RHT Health Trust (+98.2 per cent), Ascendas Hospitality Trust (+38.6 per cent), Ascendas India Trust (+35.3 per cent), Lippo Malls Indonesia Retail Trust (+34.9 per cent)…
https://www.businesstimes.com.sg/stocks/s-reit-indexs-5-best-performers-averaged-47-ytd-return-sgx
https://www.straitstimes.com/business/companies-markets/s-reit-indexs-five-best-performers-average-47-return-sgx

Views, Reviews, Forum & Others

US-China trade spat begins to hit home
Since the global financial crisis ended in 2010, and all the way through 2018, the United States economy grew at a respectable 2.3 per cent on average. But signs are emerging that this longest-ever economic expansion may be nearing its end. On Wednesday, the Dow Jones Industrial Average recorded its biggest drop of the year, falling 3 per cent, triggering declines in most global markets. The drop occurred despite…
https://www.straitstimes.com/opinion/st-editorial/us-china-trade-spat-begins-to-hit-home

Downhill dangers for the global economy
The five most dangerous words in economics are “this time things are different”. Analysts usually engage in such terms when events do not correspond to their models and hypotheses. Sometimes, though, the phrase is apt in explaining where markets are this year.
https://www.straitstimes.com/opinion/downhill-dangers-for-the-global-economy