DAILY NEWS

Daily News – 24th March 2017

Singapore Economy

Singapore to attract more global funds
In a move aimed at attracting more global funds to set up their legal entities here, the Monetary Authority of Singapore (MAS) on Thursday proposed introducing a corporate structure for investments. This is expected to play to Singapore’s regulatory strength amid stronger global pressures for tax transparency, which effectively calls for businesses to be domiciled in jurisdictions where they have substantive operations.
http://www.businesstimes.com.sg/banking-finance/singapore-to-attract-more-global-funds

New grant to boost green bond issuance in Singapore
Singapore is keen to develop a green bond market that is globally valued at about US$200 billion, and the Monetary Authority of Singapore (MAS) will offer a grant to bond issuers to cover expenses, said a top minister on Thursday. Bond issuers who qualify can offset all expenses from obtaining an external review of green bonds, up to a cap of S$100,000 per issuance, said Lawrence Wong, second minister for finance and minister for national development, at the IMAS conference.
http://www.businesstimes.com.sg/banking-finance/new-grant-to-boost-green-bond-issuance-in-singapore
http://www.straitstimes.com/business/singapore-to-roll-out-green-bond-grants?login=true
http://www.channelnewsasia.com/news/business/singapore/mas-to-offset-cost-of-issuing-green-bonds-with-new-grant-scheme/3618480.html

Singapore consumer price index edges up, but core inflation dips
Singapore logged its third straight month of positive inflation in February, owing in part to gradually recovering oil prices. This comes as the economy is also showing tentative signs of stronger growth this year, on the back of a more sanguine global outlook. But the pick-up in both consumer prices and growth has not been broad-based, which is why economists largely do not expect the central bank to tweak its exchange rate policy at its meeting next month.
http://www.straitstimes.com/business/economy/spore-consumer-price-index-edges-up-but-core-inflation-dips?login=true
http://www.straitstimes.com/business/economy/singapore-consumer-prices-rise-07-in-february-fastest-annual-pace-in-over-two-years
http://www.channelnewsasia.com/news/singapore/singapore-s-consumer-prices-rise-for-third-consecutive-month/3618716.html
http://www.todayonline.com/business/consumer-prices-singapore-rise-third-straight-month-february

Singapore Real Estate

A creative way of selling homes that is testing tax boundaries?
The enhanced deferred payment scheme at The Peak @ Cairnhill I and II (Peak I and Peak II) offers an intriguing way for the developers to move their inventory, but it is worth asking if it goes against the spirit of stamp duties on residential transactions. For a while now since the onset of property cooling measures, developers have tried various means to make their projects more palatable. They have more flexibility to come up with creative marketing schemes for delicensed projects – those that have received Certificate of Statutory Completion and individual strata titles issued to buyers.
http://www.businesstimes.com.sg/companies-markets/a-creative-way-of-selling-homes-that-is-testing-tax-boundaries

Companies’ Brief

Warburg ‘eyeing bigger Asia logistics IPO’ amid bid for GLP
Warburg Pincus, one of several bidders pursuing Global Logistic Properties Ltd, is weighing a merger of the Singapore warehouse owner with its own logistics business E-Shang Redwood Ltd before a planned initial public offering, people with knowledge of the matter said. The US buyout firm is bidding together with ESR, which is providing equity in the consortium, according to the people, who asked not to be identified because the talks are private.
http://www.businesstimes.com.sg/real-estate/warburg-eyeing-bigger-asia-logistics-ipo-amid-bid-for-glp

Minority shareholders approve ARA buyout
ARA Asset Management has moved a major step closer to being delisted from the local bourse. Founder and group chief executive John Lim – who is leading a group of investors to take ARA private – has received the green light from most of the shareholders. Court approval is now all that stands in the way of privatising ARA, which was listed on the SGX in 2007 and has built a diversified asset management portfolio across the Asia Pacific, managing about $35.6 billion in assets as at Dec 31.
http://www.straitstimes.com/business/companies-markets/minority-shareholders-approve-ara-buyout

Views, Reviews & Forum

It takes a village to build a Smart City
The rise of Smart Cities was a silent one, yet its impact is profound. According to the United Nations, 66 per cent of the world’s population will be living in urban areas by 2050. With more and more people moving to metropolitan areas for greater employment opportunities and higher quality of life, city infrastructures struggle to cope with a growing population. To address the challenges of urbanisation, government officials are quickly harnessing technology to efficiently deliver public services and enable new applications – from intelligent water systems to smart metering – in its efforts to make cities more liveable and sustainable.
http://www.businesstimes.com.sg/opinion/it-takes-a-village-to-build-a-smart-city