The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 22 Jan 2020

Singapore Real Estate

Local brands give Design Orchard thumbs up
Local brands selling their goods at Design Orchard say they have not encountered payment delays and other issues faced by vendors of Naiise, though they are also represented by the multi-label lifestyle retailer.  More than 40 of the 60 or so up-and-coming labels stocked in the prime retail showcase have chosen to sign new contracts and stay on for another year.


Singapore Economy

Tighter budgets see slower start to Lunar New Year shopping
Slow starts to the Lunar New Year buying season did not stop gift companies and retailers from projecting optimistic sales for the festive period this year, despite the slower economic growth that has led to some belt tightening among consumers.  Hamper firms that The Business Times spoke to had initially reported slow sales during the first 10 days of January, but volumes started to pick up by the end of last week.

Higher taxes not expected for expansionary Budget 2020
This term of government’s large accumulated surplus should allow for an expansionary Budget 2020, even in the absence of tax increases apart from the upcoming goods and services tax (GST) hike, say analysts.  “Barring any unexpected increase in spending needs, we do not expect any significant change to funding sources,” said KPMG Singapore’s head of tax Tay Hong Beng. “The case for a GST increase could otherwise…


Companies’ Brief

CDL, CapitaLand, Singtel among world’s 100 most sustainable firms
Three Singapore companies made it to this year’s list of the world’s 100 most sustainable big corporations, up from two last year.  Property developers City Developments (CDL) and CapitaLand came in 36th and 63rd respectively, slipping from 25th and 33rd last year. Telco Singtel rejoined the list at 95th place, after dropping out last year. It took 63rd place in 2018.


CDL, DBS, UOB, Singtel, SGX recognised in Bloomberg’s gender equality index 
Five Singapore-listed companies have made the cut for the 2020 edition of Bloomberg’s Gender-Equality Index (GEI) launched on Tuesday night.  They are City Developments Limited (CDL), DBS, United Overseas Bank (UOB), Singtel and the Singapore Exchange (SGX).


Mapletree Industrial Trust’s Q3 DPU up from 3.07 to 3.16 cent New revenue contributions lifted Mapletree Industrial Trust’s (MIT) distribution per unit (DPU) for the third quarter to 3.16 Singapore cents on an enlarged units base, up from 3.07 cents a year earlier.  Distributable income for the three months ended Dec 31 rose 19.2 per cent to S$69.4 million.


CMT, CCT in proposed merger to form third largest Reit in Asia-Pacific
The Singapore real estate investment trusts (S-Reits) sector is witnessing yet another proposed consolidation, with CapitaLand Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) on Wednesday announcing a proposed merger via a S$8.27 billion cash and stock deal.  The proposed transaction, by way of a trust scheme of arrangement, will see CMT acquiring all units in CCT, in the form of cash and new CMT units.


CapitaLand Mall Trust Q4 DPU up 4% to 3.11 S cents 
CapitaLand Mall Trust (CMT) on Wednesday posted a distribution per unit (DPU) of 3.11 Singapore cents for its fourth quarter ended Dec 31, up 4 per cent from 2.99 cents a year ago.  Gross revenue rose 12.7 per cent to S$203.4 million from S$180.5 million a year ago mainly due to CMT completing its acquisition of a remaining 70 per cent interest in Westgate and the opening of the redeveloped Funan mall.


CCT declares 2.7% rise in Q4 DPU on enlarged base, higher revenue 
CapitaLand Commercial Trust’s (CCT) distribution per unit (DPU) rose by 2.7 per cent to 2.28 Singapore cents on an enlarged unit base for its fourth quarter ended Dec 31, 2019, up from 2.22 Singapore cents a year ago.  Gross revenue was up 8.9 per cent to S$107.8 million for the quarter, from S$99 million a year ago.


Keppel DC Reit’s Q4 DPU dips marginally 
Keppel DC Reit on Tuesday posted a distribution per unit (DPU) of 1.83 Singapore cents for the fourth quarter ended Dec 31, down from 1.85 cents a year ago.  Excluding the impact of the pro-rata preferential offering in October 2019 of about 0.1 cent per unit, the DPU for Q4 would have been 1.93 cents.


Keppel Pacific Oak US Reit posts Q4 DPU of 1.51 US cents 
Keppel Pacific Oak US Reit (KORE), previously known as Keppel-KBS US Reit, on Tuesday posted a fourth-quarter restated distribution per unit (DPU) of 1.51 US cents, higher than the restated DPU of 1.25 cents in the same period a year ago.  DPU for the three months ended Dec 31 came in 2.7 per cent above forecast, notwithstanding the rights issue on Nov 26, 2018 that enlarged the unit base.


Suntec Reit DPU drops 9.4% to 2.347 S cents on enlarged unit base 
Suntec Real Estate Investment Trust’s (Reit) distribution per unit (DPU) fell by 9.4 per cent to 2.347 Singapore cents for its fourth quarter ended Dec 31, from 2.59 cents a year ago.  This was mainly due to an enlarged unit base and lower capital distribution, the Reit manager said in a regulatory filing on Wednesday.


Parkway Life Reit Q4 DPU rises 2% to 3.34 S cents 
Parkway Life Real Estate Investment Trust (PLife Reit) on Wednesday posted a 2 per cent rise in distribution per unit (DPU) to 3.34 Singapore cents for the fourth quarter ended Dec 31, 2019, up from 3.28 Singapore cents a year ago.   The increase was led by contribution from three Japan properties that the group acquired in December 2019, rental growth of existing properties, as well as cost savings from…


Shangri-La Hotel to issue S$250m 10-year bonds at 3.5% 
Shangri-la Hotel Limited, the wholly-owned Singapore subsidiary of Shangri-La Asia Limited, will sell new S$250 million 10-year bonds at par.  The senior unsecured bonds will carry a 3.5 per cent coupon rate, which is 183.7 basis points above the prevailing 10-year swap offer rate, according to the term sheet released on Wednesday.


Views, Reviews, Forum & Others

Singaporeans can be like universal adapter to plug into the world 
Q (Paul Tambyah, chairman, Singapore Democratic Party): GST (goods and services tax) has been acknowledged universally as a regressive tax. In Singapore, we pay GST on medications, we even pay GST on the water conservation tax, which is probably the only place in the world where you pay tax twice on something like water.


Global Economy & Global Real Estate 

2020 will usher in the Asian era

US builders muscling into UK’s booming rental-housing market

South Korea posts slowest annual GDP growth since financial crisis

Indonesia central bank maintains accommodative monetary policy

The Philippines is competing against Singapore to woo Reit listings

Chairman of Dubai state-owned developer Nakheel to leave

Barclay brothers in talks to sell Ritz Hotel to Saudis, FT says

‘Massive amounts of money’ headed for Nordic real estate


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article




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