The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 17th October 2018

Singapore Economy

Singapore’s September non-oil exports come in below expectations, but up from August
Singapore’s non-oil domestic exports (NODX) grew by a solid 8.3 per cent in September, coming in under economist expectations even as it picked up the pace from the 5 per cent expansion in August, according to Enterprise Singapore data released on Wednesday.

Engineering consultancy, 3 public sector agencies win Excellence Awards
This year’s Business Excellence Awards have gone to an engineering consultancy – winning for the first time – and three public sector agencies who have previously been recognised. By upholding the Singapore brand of trust and quality, the country does not need to compete on the basis of price or size, said Minister for Trade and Industry Chan Chun Sing at Tuesday night’s award ceremony at Resorts World Centre.

Collaboration among partners crucial for Industry 4.0 to take off: Tharman
Industry 4.0 is a challenge as it will lead to fewer manufacturing jobs in the long term, even as it holds “immense opportunities” for countries and businesses around the world, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam on Tuesday.

Helping Singapore overcome its limitation: Chan Chun Sing
INDUSTRY 4.0 can help Singapore to transcend its conventional limitations of size and manpower to vie on the world stage, said Minister for Trade and Industry Chan Chun Sing on Tuesday morning. “Industry 4.0 is about computing power, data, and connectivity. These are three dimensions that we can compete to overcome our previous constraints,” he said.


Singapore Real Estate

CapitaLand said to be keen on massive Shanghai project on sale for 12.79b yuan
CapitaLand is said to be eyeing the Star Harbour International Centre, a mixed-use development in Shanghai which has been launched for sale with a reserve price of 12.79 billion yuan (S$2.5 billion). China media reported that the Singapore-based property giant has agreed to buy the project, but in response to queries from The Business Times, a spokesman for CapitaLand declined comment, adding that “as and when there is material development, we would make the appropriate announcement.”

Buyers willing to shell out extra for integrated development projects
Convenience is king among property buyers in Singapore, this much is clear. They want a place to call home, but so much the better if home is part of a larger development where they can shop, run errands and seamlessly connect to the MRT as well.

GIC makes two European investments
Singapore sovereign wealth fund GIC has made two investments in Europe: one is a 465 million-euro (S$741 million) Paris office building, and the other, a significant minority stake in a Denmark-based company for an undisclosed amount.

Owner of $14m Sentosa Cove villa sues developer over alleged defects
A $14 million Sentosa Cove dream home turned into an “uninhabitable” nightmare for the owner of the four-storey waterfront villa, who has taken the developer to court to hold it responsible for some 492 alleged defects.

Two new nursing homes to open in Bukit Batok, Bukit Panjang by 2020
Two new nursing homes, with a total capacity of 570 beds, will open in Bukit Batok and Bukit Panjang by the end of 2020. The homes, operated by Vanguard Healthcare, will include facilities to cater to patients with dementia, said the Ministry of Health (MOH) in a press release on Tuesday (Oct 16).

New life for 13 more colonial bungalows at aerospace park
Thirteen more conserved colonial bungalows at Seletar Aerospace Park are being refurbished for retail, F&B and office use. They will join four other bungalows which were renovated as food outlets that opened last year at the park’s food and lifestyle hub, The Oval. The latest works are expected to be completed next year, and statutory board JTC has launched a request-for-interest for their use.


Companies’ Brief

Temasek launches first bond for retail investors – at 2.7% fixed rate
Temasek Holdings has launched its first public bond offer for retail investors, with a five-year maturity and a fixed interest rate of 2.7 per cent per annum payable every six months. Up to S$200 million is being offered to retail investors. There is another S$200 million placement for institutional, accredited and other specified investors, making for a total offer of S$400 million.

Temasek to buy Israeli cybersecurity firm Sygnia
Singapore investment firm Temasek Holdings has agreed to acquire Israeli cybersecurity technology and services provider Sygnia for an undisclosed amount. The Israeli start-up, which has offices in Tel Aviv and New York, will maintain its operational independence while pursuing collaborations with Temasek and its portfolio companies, Sygnia said on Tuesday (Oct 16).

Surbana Jurong acquires two architecture firms
Surbana Jurong is acquiring two major architectural firms, in a move that almost doubles the group’s headcount of architects and boosts its ability to take on ambitious projects, particularly in sectors such as healthcare and hospitality.

Keppel DC Reit DPU up 6.3% in Q3
Keppel DC Reit has posted a third-quarter distribution per unit (DPU) of 1.85 Singapore cents, up 6.3 per cent from 1.74 Singapore cents in the same period a year earlier. The higher distributable income was due mainly to the higher rental top-ups recognised, though this was partially offset by lower ad hoc service revenue and power-related revenue.

First Reit Q3 DPU up 0.5% on boost from latest acquisitions
First Real Estate Investment Trust’s (First Reit’s) third-quarter distribution per unit (DPU) edged up 0.5 per cent to 2.15 Singapore cents for the three months ended Sept 30, from 2.14 Singapore cents a year ago, boosted by its newest acquisitions.

EC World Reit gets right of first refusal on Bei Gang Logistics Stage 2 properties
EC World Real Estate Investment Trust (Reit) has chosen not to acquire Stage 2 properties of Bei Gang Logistics for a purchase consideration of 702.5 million yuan (S$140 million), the Reit’s manager announced on Tuesday after the market closed.

Wheelock Properties to be delisted on Oct 18
Wheelock Properties will be delisted on Oct 18, 9am, following the close of the voluntary unconditional general offer earlier in the month by parent Wheelock and Company. At the close of the offer, the parent’s stake stood at 90.1 per cent.

TEE Int’l bags S$58m worth of engineering contracts
TEE International has clinched engineering contracts worth about S$58 million to bring its outstanding order book to about S$304 million, the engineering, infrastructure and real estate group said on Tuesday.

VCs to play significant role in age of innovation and disruption
Venture capitalists will play a significant role in the coming years as technology continues to blur the lines between industry sectors, said Singapore Finance Minister Heng Swee Keat at Vertex Ventures’ 30th anniversary event on Tuesday.


Views, Reviews, Forum & Others

More productive and accessible healthcare
“We can do and serve more with less manpower,” said Chua Chee Yong, director of Emerging Services and Capabilities Group at Integrated Health Information Service (IHIS), on how technology can be harnessed in a meaningful way to enhance accessibility and boost productivity in healthcare.

Momentum in the East: How Asia will lead the pack in blockchain integration
In both Asia and the West, regulatory uncertainty surrounding blockchain abounds. And yet, despite this lack of direction, Asia is establishing itself as the clear leader in the race to provide the first blockchain use cases for businesses ranging from well-known tech giants to small to medium enterprises (SMEs).

Welcome to roboshop – Singapore’s first cashless, automated supermarket
A new supermarket in Pasir Panjang does not accept cash. And even if it did there are no cashiers to accept it. Welcome to the new “habitat” supermarket – a 60,000 sq ft retail space with a fully automated check-out system where customers pay using a smartphone app and robots pack their groceries into bags.

Singaporeans’ average life expectancy forecast to rise to 85.4 years in 2040: Study
Singaporeans will be living longer lives in 2040, according to a study by the Institute for Health Metrics and Evaluation (IHME). The result of the study released on Wednesday (Oct 17), ranks Singapore third in the world, with an average life expectancy of 85.4 years in the year 2040.


Global Economy & Global Real Estate

China to step up banks’ reserve requirement cuts in 2019 as growth risks build

China local governments’ hidden debt could total 40 trillion yuan: S&P

China Q3 GDP growth seen hitting lowest since 2009 on trade war toll

London attracts global finance under Brexit cloud

US job openings hit record high of 7.14 million

US industrial output rises in September

US sets new trade talks with EU, Japan, Britain

Tax cuts drive annual US budget deficit up 17% to US$779b

US beats Singapore to top of global competitiveness rankings: WEF

Saudi Arabia has more to lose than US from an economic showdown

Mahathir’s ‘crooked bridge’ project may be revived

Sears bankruptcy gives landlords opportunity to refresh their malls

Gaw Capital Joins $1.9 Billion Swire Office Tower Deal


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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