The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 20th April 2017

Top Story

Google to help train 1,000 SME business leaders
Google on Wednesday announced plans to work with global training providers to train 1,000 business leaders in the SME (small and medium enterprise) sector of Singapore by 2019. The company will collaborate with UK-based digital transformation and leadership training company Avado, Spring Singapore and the Info-communications Media Development Authority of Singapore to launch a programme called “Squared Online for SMEs”.

Singapore Economy

Singapore retains 10th spot in FDI Confidence Index
Better economic outlook led to investors retaining Singapore at the 10th spot on the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index, even if political uncertainties wavered their confidence. The city-state is in 10th position this year – similar to last year’s – survey results released on Tuesday showed. Singapore took the 15th spot in 2015.

Singapore Real Estate

Frasers Centrepoint’s Aussie arm seals deals on Sydney hotel, commercial space
The Australian arm of Singapore-listed Frasers Centrepoint Limited, together with a joint venture partner in a Sydney Central Park development, has entered into option agreements with an impact investment fund on the sale of a hotel and commercial space in a Central Park precinct.

GIC, Mapletree fuel student housing spree in bid to spur returns
GIC Pte and Mapletree Investments Pte are going back to school. Singapore’s sovereign wealth fund and the city-state-based real estate investor helped fuel a record US$16.2 billion of student-housing acquisitions last year, and a further US$3.3 billion of deals were struck in the first quarter of 2017, according to Real Capital Analytics Inc.

China bonanza for four property companies
Four Singapore property stocks recently ran up year highs. A coincidence? Hardly. They have one thing in common: they are all members of a consortium involved in the development of a mega integrated property project in Gaobeidian in China, near the newly announced special economic zone (SEZ) called Xiongan New Area in Hebei province.

Bright outlook for industrial Reits
Industrial real estate investment trusts (Reits) will likely benefit as the Government pushes for more higher-value-add businesses, said a new report yesterday. The boost for Reits will be underpinned by the new economy, which is expected to boost demand for hi-specifications factories and business park space even as the current supply glut tapers off.

Six conservation shophouses in Tanjong Pagar for sale
A row of six adjoining conservation shophouses in Tanjong Pagar has been put up for sale at an indicative price of $57.8 million. Marketing agent JLL yesterday said the guide price for the units – 48 to 56 Peck Seah Street – works out to about $2,900 per sq ft, based on the existing gross floor area of 19,938 sq ft. The units, which are owned by a fund managed by Phoenix Property Investors, have a 33m-wide road frontage and are near the Tanjong Pagar MRT station.

Keppel Reit appoints Penny Goh board chairman
The chairman of the board of directors at Keppel Reit Management, Chin Wei-Li, will be resigning this week, with non-executive and independent director of the manager Penny Goh taking over. The Reit’s manager announced in a filing to Singapore Exchange on Wednesday afternoon that with effect from April 22, Dr Chin, 59, will resign from her roles as chairman of the board and non-independent, non-executive director. She has served on the board since Feb 3, 2005.

Site of collapsed wall at Dalvey Rd closed until repairs are done
The piles of concrete and broken bricks from a collapsed wall bordering three residential premises at Dalvey Road were cleared by Wednesday afternoon (April 19), and the affected homeowners have been informed by the Building and Construction Authority (BCA) to hire professional engineers to propose rectification works.

Companies’ Brief

Keppel Reit posts 13.7% drop in Q1 DPU
Office landlord Keppel Reit posted a 13.7 per cent drop in distribution per unit (DPU) to 1.45 Singapore cents for the first quarter ended March 31, down from 1.68 cents a year ago. Distribution to unitholders was 11.6 per cent lower at S$48.1 million amid an absence of divestment gains and income from the divested 77 King Street in Sydney, as well as lower income contribution from Bugis Junction Towers.

CCT’s DPU up as CapitaGreen boosts Q1 performance
Attaining full ownership of CapitaGreen, an office tower along Singapore’s Market Street, late last year drove CapitaLand Commercial Trust’s (CCT) first-quarter results higher. CCT, which posted its results on Wednesday, also said it has obtained the provisional permission of the Urban Redevelopment Authority (URA) for the proposed redevelopment of another building not far from CapitaGreen. 

OUE Realty increases stake in International Healthway Corporation to 86.16%
OUE Realty’s deemed stake in International Healthway Corporation has gone up to 86.16 per cent from 57.6 per cent on April 13, 2017, it said in a filing to the Singapore Exchange. Its deemed interest has increased from 955.67 million shares to 1.43 billion shares. OUE Realty is the holding company of property developer OUE.

Placement agreement for proposed issue of KOP shares lapses
KOP Limited announced on Wednesday that the placement agreement for the proposed issue of up to 221.6 million shares in the company has lapsed. The parties will not extend it as the potential subscriber is not able to solve its funding issue due to “certain currency controls”. The placement agreement will no longer have any effect, and the parties involved will have no further obligations or claims against each other.

Sembcorp Audit Committee chairman retires
Sembcorp Industries on Wednesday announced the retirement of its Audit Committee chairman Bobby Chin Yoke Choong, who will be replaced by Yap Chee Keong. Mr Chin opted not to submit himself for re-election at the company’s 19th annual general meeting held on Wednesday.

China’s Ant Financial buys helloPay
Ant Financial, the payment affiliate of Alibaba Group Holding Ltd, has acquired Singapore-based payment service helloPay Group, as part of the Chinese firm’s drive to boost its Alipay brand and presence in South-east Asia. helloPay is the payment subsidiary of e-commerce firm Lazada Group, which is majority-owned by Alibaba after a US$1 billion deal in 2016, and will be re-branded as Alipay in relevant markets, including Singapore, Malaysia, Indonesia and the Philippines, Ant said in a statement on Wednesday.

Healthway shareholders should study outlined scenarios
Shareholders of Healthway Medical Corporation (HMC) heading to its extraordinary general meeting (EGM) on Friday to vote on two major resolutions should acquaint themselves with the various outcome scenarios painted by the company. The first resolution is on the proposed issuance of S$60 million in convertible notes to Gateway by HMC.

Views, Reviews & Forum

Britain’s corporate bosses will soon know what Brexit really means
Apple Inc’s CEO, Tim Cook, has said that he’s “very optimistic” about Britain’s future outside the European Union. Not everyone feels the same. Airlines, carmakers and banks are all warning of business disruption and trying to plan for the worst. But a general election in June might be just the trick for bringing needed clarity to long-term UK investors. An election would ideally bind Prime Minister Theresa May, who has somewhat softened her tone on Brexit of late, to a plan.

Global Economy & Global Real Estate

Markets taking a ‘benign view’ of global downside risks: IMF

Paris home price surge means less value for Brexit-hit bankers

Chapel which survived Sept 11 attacks may be killed off by rent hike

Malaysia developers tackle slump with job freezes, benefit cuts

At Manhattan Tower, debt payments and losses increase

Home prices surge in drum-tight Toronto 

Property destocking in China’s smaller cities to persist, says senior economic planner

Putin pins housing hopes on mortgage factory

Shared office space company WeWork starts facilities management service

BlackRock CEO Fink sees wave of M&A in asset management industry

IMF says Trump corporate tax cuts could lead to financial risk-taking

U.S. economy shows only modest signs of inflation pressures: Fed

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

Scroll to Top