DAILY NEWS

Daily News – 21st September 2018

Singapore Economy

Singapore market still singing trade war blues
Begun, the trade war has. And the wall of tariffs dividing the US and China could stretch well beyond 2019, pundits say, making bargain hunting in affected Singapore stocks a difficult proposition. Credit Suisse’s private banking research head for South-east Asia Kum Soek Ching told The Business Times: “Anyone going into the Singapore market now has to have at least a 12-month investment horizon in view of the multiple headwinds, not only from a more protectionist trade environment but also from a liquidity squeeze from higher US interest rates and a stronger US dollar.”
https://www.businesstimes.com.sg/government-economy/singapore-market-still-singing-trade-war-blues

China-S’pore trade pact upgrade ready by end of this year
Singapore and China will conclude the upgrade of their Free Trade Agreement (FTA) by the end of this year, said Deputy Prime Minister Teo Chee Hean, giving certainty for the first time to when the new deal will be sealed. Talks over the upgrade have taken nearly three years.
https://www.straitstimes.com/singapore/china-spore-trade-pact-upgrade-ready-by-end-of-this-year-0

Singapore Real Estate

Super penthouse at South Beach Residences fetches S$26m
The consortium that developed South Beach Residences is understood to have granted options for the purchase of 10 units over the past fortnight, including the super penthouse which is being sold at S$26 million to a foreigner. This works out to S$3,864 per square foot on the strata area of 6,728 sq ft. The five-bedroom unit spans three levels – 41, 42 and a rooftop with a pool.
https://www.businesstimes.com.sg/real-estate/super-penthouse-at-south-beach-residences-fetches-s26m

Companies’ Brief

BlackRock fund acquires 7 strata office units in Prudential Tower
A private real estate fund managed by BlackRock has acquired seven strata office units in Prudential Tower for about S$130 million from consortium Epic Land. Prudential Tower is a 30-storey Grade A commercial property in the heart of the Central Business District (CBD).
https://www.businesstimes.com.sg/real-estate/blackrock-fund-acquires-7-strata-office-units-in-prudential-tower

Keppel Land, CDL win top global green awards
Two local property firms have been recognised for their commitment to sustainable practices. Keppel Land and City Developments (CDL) picked up awards in the Global Real Estate Sustainability Benchmark (GRESB).
https://www.straitstimes.com/business/companies-markets/keppel-land-cdl-win-top-global-green-awards

Lendlease joins growing trend of developers running co-working spaces
Lendlease is planning its own flexible workplace brand within its upcoming Paya Lebar Quarter mixed-use development, The Business Times has learnt. That would make the Australian firm the latest among developers to run their own co-working platforms here amid an increasingly crowded landscape.
https://www.businesstimes.com.sg/real-estate/lendlease-joins-growing-trend-of-developers-running-co-working-spaces

Owner of Soilbuild Reit’s manager takes S$30m of its S$65m perps offering
The controlling shareholder of Soilbuild Business Space Reit’s manager is taking nearly half of the real estate investment trust’s S$65 million subordinated perpetual securities offering, according to a filing with the Singapore Exchange early Friday morning. Lim Chap Huat, who also holds a 9.096 per cent stake in the Reit, has agreed to subscribe for S$30 million of the deal, which was priced on Thursday night.
https://www.businesstimes.com.sg/companies-markets/owner-of-soilbuild-reits-manager-takes-s30m-of-its-s65m-perps-offering
https://www.straitstimes.com/business/companies-markets/owner-of-soilbuild-reit-takes-30m-of-its-s65m-perps-offering

SPH hires consulting firm to help tap analytics
Singapore Press Holdings (SPH) has hired consulting firm Happy Marketer to help with its implementation of enterprise analytics tool Google 360, which helps companies track user behaviour across multiple channels. Happy Marketer will work with the group’s different media business units to implement analytics frameworks and ensure the data collected from multiple sources is integrated and available for use by editors, marketers and data teams, said SPH, which owns The Straits Times.
https://www.straitstimes.com/business/companies-markets/sph-hires-consulting-firm-to-help-tap-analytics

VIEWS, REVIEWS, FORUM & Others

Going cashless with consumers’ buy-in
Soon after appointing Nets as the single touch point – to supply a unified system at hawker centres, canteens and coffee shops that can accept e-payments from 20 sources – Singapore has taken another step towards the goal of becoming a cashless society. Now, a universal QR code, which allows consumers to scan and transfer funds from 27 e-payment apps, has been launched.
https://www.straitstimes.com/opinion/st-editorial/going-cashless-with-consumers-buy-in

Long-term case for emerging markets investments is intact
Another season, another ordeal for emerging markets. EM performance was stellar in the past two years, with a lofty 37 per cent return in 2017, compared to developed markets’ return of 22 per cent, based on the MSCI Emerging Markets and World Indexes, respectively.
https://www.businesstimes.com.sg/opinion/long-term-case-for-emerging-markets-investments-is-intact