DAILY NEWS

Daily News – 23rd May 2019

Singapore Real Estate

HDB launches more than 6,700 flats, including units in Tengah, Kallang Whampoa
The Housing and Development Board (HDB) launched 6,753 flats in its second sales exercise of the year on Wednesday, including new homes in the upcoming forest town of Tengah as well as the mature town of Kallang Whampoa. Starting with this exercise, home buyers can find out the results of their Build-To-Order (BTO) flat ballot in three weeks, instead of six weeks previously.
https://www.businesstimes.com.sg/real-estate/hdb-launches-more-than-6700-flats-including-units-in-tengah-kallang-whampoa
https://www.straitstimes.com/singapore/hdb-launches-more-than-6700-flats
https://www.channelnewsasia.com/news/singapore/hdb-bto-new-flats-sales-balance-offer-11530696
https://www.todayonline.com/singapore/6753-flats-offered-hdbs-may-sales-exercise-including-units-tengah-woodlands-and-kallang

Companies’ Brief

AUM up 12% for top 5 Singapore property funds targeting Asia-Pac
The top five Singapore real estate fund managers recorded US$141.4 billion in assets under management (AUM) dedicated for Asia-Pacific (APAC) strategies in 2018, 12.22 per cent higher than the US$126 billion recorded in 2017. This makes up almost one-quarter (24.12 per cent) of the US$586.2 billion total APAC real estate AUM, according to a fund manager survey by three real estate industry associations.
https://www.businesstimes.com.sg/real-estate/aum-up-12-for-top-5-singapore-property-funds-targeting-asia-pac
https://www.straitstimes.com/business/property/capitaland-tops-region-with-78b-in-real-estate-assets

SingHaiyi posts 47.6% rise in Q4 net profit to S$9.74m
Real estate group SingHaiyi on Wednesday announced that Q4FY19 net profit rose 47.6 per cent year-on-year to S$9.74 million. Revenue declined 67.6 per cent to S$9.84 million mainly due to the decrease in revenue recognised for the completed executive condominium project, The Vales, and the private condominium, City Suites. Earnings per share came to 0.228 Singapore cent versus 0.209 cent previously.
https://www.businesstimes.com.sg/companies-markets/singhaiyi-posts-476-rise-in-q4-net-profit-to-s974m

ESR Cayman raises stake in Sabana Reit manager, buys Reit units in S$62.2m deal
ESR Cayman, through its subsidiaries, is raising its stake in the vehicle which owns the manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), and buying units in the Reit – in a deal worth S$62.2 million in net proceeds for Vibrant Group. ESR said on Wednesday that after the transaction, it would indirectly hold an approximate 93.8 per cent equity interest in Sabana Investment Partners (SIP)…
https://www.businesstimes.com.sg/companies-markets/esr-cayman-raises-stake-in-sabana-reit-manager-buys-reit-units-in-s622m-deal

Rich Capital partner demands issuance of performance bond by June 1 for Batam project
Rich Capital has received a second letter from a joint-venture partner of Oxley Batam, its 80 per cent-owned indirect subsidiary, requesting the Batam development project’s main contractor to confirm that it will provide a performance bond by June 1. This is contrary to the previous understanding reached, and which was announced by Rich Capital on May 17, the Catalist-listed property developer said in a bourse filing on Thursday morning.
https://www.businesstimes.com.sg/companies-markets/rich-capital-partner-demands-issuance-of-performance-bond-by-june-1-for-batam
https://www.straitstimes.com/business/companies-markets/rich-capital-says-partner-to-batam-joint-venture-demands-issuance-of

Views, Reviews, Forum & Others

How US-China trade war will hit Singapore
Mr David Low is glad he hedged his bets – otherwise the US-China trade war would have spelt disaster for his Singapore-based company. He has factories in Kunshan, China, supplying retail shop fixtures such as shelves and hanging bars to brands such as Victoria’s Secret. Luckily, he has factories in Malaysia, too.
https://www.straitstimes.com/business/us-china-trade-war-how-trade-war-will-hit-singapore