DAILY NEWS

Daily News – 20th June 2019

Singapore Real Estate

No budget for a S$100m super penthouse? There’re 5 others in Singapore up for sale
Out of the 11 super penthouses around the world now on the market, six are in Singapore, based on listings from 2016 to April 2019, List Sotheby’s International Realty (List SIR) said on Wednesday. The biggest of these “super penthouses” in Singapore is in the 950 ft high Wallich Residence in Tanjong Pagar, with a floor area of 21,108 square feet (sq ft). Spanning levels 62 to 64…
https://www.businesstimes.com.sg/real-estate/no-budget-for-a-s100m-super-penthouse-therere-5-others-in-singapore-up-for-sale
https://www.straitstimes.com/business/property/6-of-11-super-penthouses-on-sale-globally-are-in-spore

10 plots in Lim Chu Kang for sale by public tender
Ten land parcels for food farming at Lim Chu Kang were put up for sale by public tender on Wednesday, the Singapore Food Agency (SFA) said. These include six land parcels for beansprout farming, three land parcels for general agriculture (food) farming and a land parcel for vegetable farming, the agency said in a statement.
https://www.businesstimes.com.sg/real-estate/10-plots-in-lim-chu-kang-for-sale-by-public-tender
https://www.straitstimes.com/singapore/environment/10-land-parcels-for-food-farming-put-up-for-sale
https://www.straitstimes.com/singapore/10-new-land-parcels-in-lim-chu-kang-on-sale-for-farming

New code to strengthen town council governance
Town councils will have to hire auditors to look into their processes and impose term limits for committee chairmen who oversee areas like finance, audit and risk management. They will also have to ensure they have sufficient resources to support their goals over a five-to 10-year period, according to a new code of governance launched by the Ministry of National Development (MND) yesterday.
https://www.straitstimes.com/singapore/housing/new-code-to-strengthen-town-council-governance
https://www.straitstimes.com/singapore/pap-town-councils-confident-of-complying-with-new-governance-guidelines
https://www.channelnewsasia.com/news/singapore/new-code-of-governance-for-town-councils-singapore-11640780
https://www.todayonline.com/singapore/new-governance-rules-town-councils-start-april-2020

Singapore Economy

Singapore businesses ‘moderately optimistic’ on growth amid global economic slowdown: poll
Global macro factors and talent shortage are the top external factors that will impact overall business performance for Singapore firms in the coming year, according to a survey by management consultant firm Korn Ferry. Out of the 110 organisations surveyed in Singapore, 66 per cent said the global economic slowdown would have the biggest impact…
https://www.businesstimes.com.sg/government-economy/singapore-businesses-moderately-optimistic-on-growth-amid-global-economic
https://www.straitstimes.com/business/economy/singapore-firms-moderately-optimistic-on-growth-amid-global-economic-slowdown-korn

Companies’ Brief

Yanlord sells 283 out of 323 units at Shenzhen project’s 1st launch
Yanlord Land sold 283 apartment units during its first launch over the weekend at Yanlord Four Seasons Gardens in Shenzhen at 51,000 yuan (S$10,100) psm, it said in a bourse filing on Wednesday. The units sold chalked up pre-sales of about 1.34 billion yuan for the 26,300 sq m in gross floor area sold. This was out of 323 apartment units launched.
https://www.businesstimes.com.sg/companies-markets/yanlord-sells-283-out-of-323-units-at-shenzhen-projects-1st-launch

Dual-listed Fortune Reit to delist from Singapore Exchange
Hong Kong and Singapore dual-listed Fortune Reit will delist from the mainboard of the Singapore Exchange (SGX). In a bourse filing on Wednesday, its manager ARA Asset Management cited overheads, cost of compliance and low trading volumes in Singapore as reasons for the move.
https://www.businesstimes.com.sg/companies-markets/dual-listed-fortune-reit-to-delist-from-singapore-exchange

Pan Hong acquires land for residential project in Huzhou City for 275m yuan
Mainboard-listed Pan Hong Holdings Group has made a successful 275 million yuan (S$54.4 million) bid for the land use rights of a plot located in Huzhou City in China’s Zhejiang province. The land, sold by the Huzhou Bureau of Natural Resources and Planning (HBNRP), is for residential use. It has a total site area of 36,122 square metres (sq m) and maximum gross floor area of 65,020 sq m…
https://www.businesstimes.com.sg/companies-markets/pan-hong-acquires-land-for-residential-project-in-huzhou-city-for-275m-yuan

Foreland Fabritech files court order to change legal rep of unit, get return of documents
Foreland Fabritech has filed a court order to the Jinjiang People’s Court to change the legal representative for a subsidiary it has lost control over, and to order the subsidiary and the man it says is “effectively controlling” the company to return various documents. In a Wednesday bourse filing, the Chinese textile maker said that it wants the unit Fulian Knitting Co and the man…
https://www.businesstimes.com.sg/real-estate/foreland-fabritech-files-court-order-to-change-legal-rep-of-unit-get-return-of-documents