DAILY NEWS

Daily News – 21, 22 & 23 May 2022 (Sat, Sun & Mon)

Singapore Real Estate

Bukit Sembawang’s Liv @ MB sells over 75% of units on launch weekend
Bukit Sembawang Estates’ condominium project Liv @ MB in the Mountbatten area has sold more than 75 per cent of its 298 units, at an average selling price of S$2,387 per square foot (psf), Bukit Sembawang said in a press statement.
https://www.businesstimes.com.sg/real-estate/bukit-sembawangs-liv-mb-sells-over-75-of-units-on-launch-weekend
https://www.straitstimes.com/business/property/liv-mb-condo-in-mountbatten-sells-over-75-of-units-on-launch-weekend

Asia Green in Tampines up for sale at indicative price of S$470m
Asia Green, a premium Grade A commercial development located at 7 and 9 Tampines Grande has been put on the market via an expression of interest (EOI) exercise at an indicative price of S$470 million or S$1,645 per square foot based on its total net lettable area.
https://www.businesstimes.com.sg/real-estate/asia-green-in-tampines-up-for-sale-at-indicative-price-of-s470m

Two industrial buildings at Ang Mo Kio, Bartley put on the market
Two industrial buildings with redevelopment potential in Ang Mo Kio and Bartley have been put up for sale, marketing agents CBRE and ERA Realty said separately on Thursday (May 19). The Ang Mo Kio industrial building, which will be sold via private treaty, has an indicative price of S$27 million. The other building, located off Upper Paya Lebar Road, has an indicative price of S$71 million.
https://www.businesstimes.com.sg/real-estate/two-industrial-buildings-at-ang-mo-kio-bartley-put-on-the-market

Outlook for Singapore retail rents favourable: analysts
Given sustained economic growth, increasing consumer footfall, the return of tourism spending and lifting of safe management measures, analysts say the outlook for retail rents appears favourable – though they are only likely to return to pre-pandemic levels next year.
https://www.businesstimes.com.sg/real-estate/outlook-for-singapore-retail-rents-favourable-analysts

Compensation for buyers of Sengkang BTO flats over delay in completion date
Singapore – Another Build-To-Order (BTO) project – Anchorvale Village in Sengkang – has exceeded the legal completion date, and buyers will be compensated by the Housing Board (HDB).
https://www.straitstimes.com/singapore/housing/compensation-for-buyers-of-sengkang-bto-flats-over-delay-in-completion-date

Singapore Economy

China’s development is good for Asia, but countries want to maintain ties with Japan, US, Europe too: PM Lee
China’s development is positive for the region, but countries in the Asia-Pacific also want to maintain their very important ties with other economies like Japan as well as the United States and Europe, Prime Minister Lee Hsien Loong said.
https://www.businesstimes.com.sg/government-economy/chinas-development-is-good-for-asia-but-countries-want-to-maintain-ties-with
https://www.straitstimes.com/singapore/chinas-development-is-good-for-asia-but-countries-want-to-maintain-ties-with-japan-us-europe-too-pm-lee

Singapore’s half-open nightclubs signal a sad, weird new normal
To grasp the challenges and quirks of Singapore’s reopening, consider the case of the country’s nightclub scene. Clubs were allowed to reopen last month. A few opted to remain shut. Others welcomed guests, but (bizarrely) offered no dance floor.
https://www.businesstimes.com.sg/government-economy/singapores-half-open-nightclubs-signal-a-sad-weird-new-normal

Companies’ Brief

UOL, Trans-China Automotive & Frencken chairmen raise stakes
For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China A50 Index adding 0.2 per cent, the Hang Seng Index gaining 2.5 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.
https://www.businesstimes.com.sg/companies-markets/uol-trans-china-automotive-frencken-chairmen-raise-stakes

Fresh off student housing deal, Wee Hur keen on more partnerships with institutional investors
Wee Hur Holdings recent sale of a chunk of its Australian purpose-built student accommodation (PBSA) portfolio could be described as something of a coup for the construction and real estate group.
https://www.businesstimes.com.sg/companies-markets/fresh-off-student-housing-deal-wee-hur-keen-on-more-partnerships-with

Industrial S-Reits report positive rental reversions
Prices and rentals of Singapore industrial spaces continued to rise in the first quarter of 2022, despite a dip in the overall occupancy rate, according to the quarterly market report published by JTC.
https://www.businesstimes.com.sg/companies-markets/industrial-s-reits-report-positive-rental-reversions

Views, Reviews, Forum and Others

China’s new rich drawn to Singapore
Singapore has seen an influx of wealth from Greater China in recent years, as newly minted millionaires and billionaires seek to spread their assets across more markets and diversify their holdings.
https://www.businesstimes.com.sg/banking-finance/chinas-new-rich-drawn-to-singapore

China’s reopening should be a boon to SGD and regional currencies, say analysts
The Singapore dollar (SGD), which has climbed 4 per cent against the Chinese yuan (CNY) over the past 2 months to trade at levels last seen a year ago, could continue to strengthen — albeit at a slower pace — and China’s reopening should be a boon to the SGD and regional currencies, say analysts.
https://www.businesstimes.com.sg/global-enterprise/chinas-reopening-should-be-a-boon-to-sgd-and-regional-currencies-say-analysts

Global measures to tackle inflation may cause recession, but must be taken: PM Lee
Singapore – The global economy is currently facing high inflation, and there is a risk that measures taken to combat this problem may lead to a recession – but action must be taken nonetheless, lest inflation become a very serious problem for the world, said Prime Minister Lee Hsien Loong.
https://www.straitstimes.com/singapore/global-measures-to-tackle-inflation-may-cause-recession-but-must-be-taken-pm-lee

Global food inflation, Ukraine war hot up cooking oil prices
Singapore – Cooking oil prices have increased since the start of the year amid rising food prices globally and because of the war in Ukraine. Food prices around the world have risen following the Covid-19 pandemic, which started in 2020, supply chain disruptions, and increasing energy prices.
https://www.straitstimes.com/singapore/consumer/global-food-inflation-ukraine-war-heat-up-cooking-oil-prices

Bitcoin recovers to US$30,000 area after shedding weekend weakness
Singapore (Bloomberg) – Bitcoin recovered to around US$30,000 (S$41,300) after spending most of the weekend below that level. The largest cryptocurrency rose as much as 1.8 per cent to US$30,450 on Monday morning (May 23) in Asia.
https://www.straitstimes.com/business/economy/bitcoin-recovers-to-us30000-area-after-shedding-weekend-weakness

Terra trauma: Investors lick their wounds amid cryptocurrency implosion
Young, with no steady stream of income, and buying into the popularity of the crypto – Berkley Lee started her foray into cryptocurrency investments when she turned 18 in January this year. With a diet of crypto news from YouTube videos, Instagram pages and Twitter, she learnt about the virtual currency space all by herself.
https://www.businesstimes.com.sg/banking-finance/terra-trauma-investors-lick-their-wounds-amid-cryptocurrency-implosion

Companies expected to resume live engagement and voting at all AGMs, regardless of format
Shareholders must be able to make decisions on an informed basis. This is true when making decisions on whether to buy, hold or sell securities, as well as when voting on corporate actions and other resolutions at shareholder general meetings.
https://www.businesstimes.com.sg/companies-markets/companies-expected-to-resume-live-engagement-and-voting-at-all-agms-regardless-of