The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 22nd March 2019

Singapore Economy

Singapore, US to jointly promote infrastructure development in Asia
Singapore and the United States will work together to promote infrastructure development and investment in Asia under an agreement inked on Wednesday (March 20).  The agreement signals the development of more options for infrastructure financing for Asian countries, in addition to China’s Belt and Road Initiative (BRI) and a trilateral partnership between the US, Australia and Japan to mobilise investment in infrastructure projects in the region.


Companies’ Brief

Oxley appoints agents for sale of hotels
Having called off the sale of its Mercure and Novotel Hotels on Wednesday, property developer Oxley Holdings said on Thursday that it has appointed CBRE, Jones Lang LaSalle Property Consultants and JLL Hotels & Hospitality Group as agents for the properties.  The agents will be tasked with sourcing, marketing, evaluating, negotiating and securing a purchaser for the hotels on Stevens Road.

Chuan Hup shares soar 12% after firm proposes special dividend
Chuan Hup Holdings shares surged at the start of trading on stronger-than-usual turnover on Thursday.  Dealers attributed this to Chuan Hup’s announcement after market close on Wednesday that it plans to pay a special dividend of nine Singapore cents a share following the disposal of a 76.7 per cent stake in mainboard-listed PCI. The stock advanced by four Singapore cents or 11.9 per cent in the first hour of trading to 37.5 cents, where it eventually closed. The 3.3 million shares traded was higher than the counter’s average of 348,000 over the last 15 trading days.

Lippo Karawaci gets pre-funding of US$280m for rights subscription
Indonesian real estate developer Lippo Karawaci has received US$280 million in advance subscription payment for part of the entitlements to a US$730 million rights issue, said the sponsor for Singapore-listed First Real Estate Investment Trust and Lippo Malls Indonesia Retail Trust on Thursday.  PT Inti Anugerah Pratama (IAP) – a shareholder of Lippo Karawaci – and IAP’s wholly owned subsidiary have pumped in the sum as advance subscription payment for Lippo Karawaci’s rights at an exercise price of 235 rupia per share…

Tembusu Partners launching several funds totalling 1b yuan
Singapore-based Tembusu Partners is launching several investment funds totalling one billion yuan (S$205.6 million), and has appointed former CapitaLand CEO Lim Ming Yan as chairman of its China advisory board, the private equity firm said on Thursday.  This comes as the private equity firm looks to increase its investments in China, which coincides with Beijing’s efforts to “liberalise the economy and promote innovation”, it added.


Views, Reviews, Forum & Others

The next financial crisis may be worse than that of 2008
It is difficult to forecast when the next global economic recession will happen. It is much easier to predict its severity.  This is particularly the case in light of excessively high global debt levels, asset price bubbles and the generalised mispricing of credit market risk. Those considerations, coupled with the lack of adequate policy instruments to respond to the next global slowdown, point to a much more severe crisis than the average post-war recession.

Why further financial crises are inevitable
We learnt this month that the United States Federal Reserve had decided not to raise the countercyclical capital buffer required of banks above its current level of zero, even though the US economy is at a cyclical peak.  It also removed “qualitative” grades from its stress tests for American banks, though not for foreign ones. Finally, the Financial Stability Oversight Council, led by Mr Steven Mnuchin, US Treasury Secretary, removed the last insurer from its list of “too big to fail” institutions.


Global Economy & Global Real Estate

US tariffs to stay for some time even after a deal with China: Trump

Fed dims economic outlook, predicts no rate hikes this year

Trump Tax Reform Hits Home in Wealthy New York Suburbs

Manhattan Homes Are Taking the Longest to Sell in Seven Years

KKR eyes Asia real estate market with US$1.5b investment fund

HK property tycoon released from jail heads home for dim sum

Japan’s February consumer inflation slows, stays distant from BOJ’s goal

Japan finance minister says economy recovering, sales tax hike to go ahead

BOE keeps rates on hold as businesses brace for no-deal Brexit

Australia’s jobless rate falls to near 8-year low

Mortgage bond buyers not worried by Australia’s housing slump

Philippine stock soars on Qatari fund’s bet

Canada’s millennials get government funding to buy homes

World’s cheapest mortgage may be around the corner in Denmark

Skanska to miss construction margin target this year and next


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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