DAILY NEWS

Daily News – 1st and 2nd January 2019

Singapore Real Estate

Lease Buyback Scheme extends to five-room flats from Jan 1
Seniors living in five-room flats will be able to sell part of their leases back to the Housing Board from today. This allows them to monetise their homes, while continuing to live there. Previously, the Lease Buyback Scheme was available only to owners of four-room or smaller HDB flats.
https://www.businesstimes.com.sg/real-estate/lease-buyback-scheme-extends-to-five-room-flats-from-jan-1
https://www.straitstimes.com/singapore/housing/lease-buyback-scheme-extended-to-all-hdb-flats
https://www.channelnewsasia.com/news/singapore/lease-buyback-scheme-extended-to-all-hdb-flat-types-11076484
https://www.todayonline.com/singapore/owners-five-room-or-larger-hdb-flats-now-qualify-lease-buyback-scheme

Singapore Economy

Economy beats expectations with 3.3% growth in 2018: PM Lee
Singapore’s economy performed above expectations to grow 3.3 per cent in 2018, close to that in 2017, Prime Minister Lee Hsien Loong said in his New Year Message on Monday. Growth is likely to be in the range of 1.5 to 3.5 per cent in 2019, in line with the Ministry of Trade and Industry’s forecast.
https://www.businesstimes.com.sg/government-economy/economy-beats-expectations-with-33-growth-in-2018-pm-lee-0
https://www.straitstimes.com/politics/economy-grew-33-above-expectations
https://www.channelnewsasia.com/news/business/singapore-q4-advance-gdp-slows-to-2-2-misses-expectations-mti-11078130
https://www.todayonline.com/singapore/singapores-economy-grew-16-cent-q4-2018-previous-quarter-below-forecast

Heng Swee Keat to deliver Budget Statement 2019 on Feb 18
Budget Day will fall on Monday, Feb 18, with Finance Minister Heng Swee Keat presenting in Parliament the government’s revenues and expenditure for its new financial year, starting April 1, according to a Ministry of Finance (MOF) announcement on Tuesday.
https://www.businesstimes.com.sg/government-economy/heng-swee-keat-to-deliver-budget-statement-2019-on-feb-18

Companies’ Brief

Keppel Corp sees potential in Asia property sector
Keppel Corporation sees property opportunities in key Asian cities and increasing optimism in the offshore and marine (O&M) industry in 2019, which “is expected to be another challenging but also exciting year”, said chief executive officer Loh Chin Hua in his New Year’s message to staff. Mr Loh said Keppel is “ready, after the extensive restructuring of the past few years, to seize new opportunities when the upturn comes” in the O&M sector.
https://www.businesstimes.com.sg/companies-markets/keppel-corp-sees-potential-in-asia-property-sector

Keppel to acquire commercial tower in Beijing for 555m yuan
Keppel Land China will acquire a completed commercial property in Haidian District, Beijing for an aggregate cash consideration of 555 million yuan (S$111 million). The property is owned by Beijing Chang Sheng Business Consulting Co, and Keppel Land China has agreed with A Li Yun Shan (Beijing) Business Consulting Co to purchase the full equity interest in the building owner.
https://www.businesstimes.com.sg/real-estate/keppel-to-acquire-commercial-tower-in-beijing-for-555m-yuan
https://www.straitstimes.com/business/keppel-unit-to-buy-beijing-commercial-building-for-110m

ERA looks to ‘crazy Rich Asians’ to help buffer market challenges
The ERA group is betting on the luxury segment and a new headquarters to cushion the challenges facing the Singapore housing market, particularly that arising from the July cooling measures. APAC Realty, which operates the ERA brokerage brand here and in the Asia-Pacific, hopes that these and other measures being rolled out would draw agents and business in the next few years.
https://www.businesstimes.com.sg/real-estate/era-looks-to-crazy-rich-asians-to-help-buffer-market-challenges

Charles & Keith buys S$60m building next to HQ in Tai Seng Link
Footwear, bag and accessories maker Charles & Keith Group is buying an industrial building next to its headquarters in Tai Seng Link to cater for its business expansion plans. The group is acquiring 8 Tai Seng Link for S$60 million from Marvell Asia, which opened the building in late-2008 as an expanded regional hub of its US-based parent, semiconductor company Marvell Technology Group.
https://www.businesstimes.com.sg/real-estate/charles-keith-buys-s60m-building-next-to-hq-in-tai-seng-link

Views, Reviews, Forum & Others

Digital management of construction projects will be a first in 2019
The year 2019 will see a digital leap forward as many construction companies explore implementing integrated business software into projects for the very first time. Tighter margins, global skills shortages and new industry entrants are all ramping up the pressure on traditional construction businesses to deliver greater productivity and more integrated, cost-efficient projects, on time, every time.
https://www.businesstimes.com.sg/opinion/digital-management-of-construction-projects-will-be-a-first-in-2019