The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News – 24th May 2017

Singapore Economy

Consumer prices up for fifth month in a row
Consumer prices went up again last month – the fifth month in a row – although the pace has slowed a little.  Headline inflation was 0.4 per cent last month, down from 0.7 per cent in March, largely because the disbursement of service and conservancy charge (S&CC) rebates cut the cost of housing maintenance and repairs.  However, core inflation – which strips out accommodation and private road transport costs to better gauge everyday expenses – rose to 1.7 per cent last month, the highest level since October 2014.
http://www.straitstimes.com/business/consumer-prices-up-for-fifth-month-in-a-row
http://www.businesstimes.com.sg/infographics/core-inflation-spikes
http://www.channelnewsasia.com/news/singapore/singapore-s-inflation-rate-dips-in-april-8874864
http://www.todayonline.com/business/consumer-prices-5th-straight-month-pace-slows

MAS, World Bank unit to work on greater Asean access for S’pore fintechs
New paths are emerging for Singapore-based fintech (financial technology) firms to distribute their services to the Asean region following a partnership agreement signed between the Monetary Authority of Singapore and a member organisation of the World Bank.  MAS and the International Finance Corporation, a member of the World Bank, said on Tuesday that they will partner to bring about a broader adoption of fintech innovation in Asean.
http://www.businesstimes.com.sg/banking-finance/mas-world-bank-unit-to-work-on-greater-asean-access-for-spore-fintechs

Singapore Real Estate

For office decentralisation to work, supply of non-CBD space must expand to improve rental draw
Decentralisation was first mooted in Singapore in the 1991 Concept Plan. A hierarchy of commercial centres ranging from fringe, sub-regional and regional centres fanning out from the Central Area was proposed as a means to bring work closer to home and alleviate congestion in the city centre.  Fast forward 25 years and prime decentralised office stock, which has stagnated at two million sq ft since 2007, constituted just 10 per cent of total CBD prime office stock as of the end of 2016.
http://www.businesstimes.com.sg/real-estate/for-office-decentralisation-to-work-supply-of-non-cbd-space-must-expand-to-improve

Retail slump: One Raffles Place is latest to suffer
When One Raffles Place shopping mall reopened in 2014 after a major makeover, it boasted a strong tenant line-up, much to the delight of office workers in the area.  But three years on, all but one of these crowd-pullers have shut or will move out by next month, as the retail slump claims yet another casualty. Lingerie brand Victoria’s Secret, fashion retailer Uniqlo and cafe Paris Baguette have already closed their stores at the six-storey mall next to Raffles Place MRT station.
http://www.straitstimes.com/singapore/retail-slump-one-raffles-place-is-latest-to-suffer

Symposium to update investors on trends in Reit sector
Financial media and technology company ShareInvestor, which is a subsidiary of Singapore Press Holdings (SPH), will hold Reits Symposium 2017 at Suntec Singapore Convention & Exhibition Centre on May 27.  Jointly organised by ShareInvestor and the Reit Association of Singapore, the event aims to help investors learn about the Reit (real estate investment trust) sector and update them on the latest market trends.
http://www.businesstimes.com.sg/companies-markets/symposium-to-update-investors-on-trends-in-reit-sector

The digital future of construction
Although the construction industry suffers from sluggish productivity growth and relatively low financial returns, it has been slow to embrace the process and technology innovations that could help it to do better with respect to both profitability and performance.  In general, R&D spending in construction runs well behind that of other industries: it accounts for less than one per cent of revenues, versus 3.5 to 4.5 per cent for the automotive and aerospace sectors. Ditto for spending on information technology.
http://www.businesstimes.com.sg/hub/2017-global-infrastructure-initiative/the-digital-future-of-construction

Singapore construction’s future in an alphabet soup
BIM. VDC. PBU. PPVC. DFMA. MET.  The acronyms are flying thick and fast as Singapore’s construction industry gets drastically reshaped.  The aim: To reduce Singapore’s reliance on foreign workers, and increase productivity to offer better-paying jobs for locals.  Nudged by the government through a mix of regulations, grants, quotas and levies, many construction and engineering companies here are investing in technology and exploring new ways of building.
http://www.businesstimes.com.sg/hub/built-environment-innovators-2017/singapore-constructions-future-in-an-alphabet-soup

Companies’ Brief

Wing Tai Holdings launches RM291m takeover bid for Malaysian counterpart
Singapore-listed Wing Tai Holdings launched a RM290.7 million (S$94 million) takeover offer on Tuesday for its Malaysian-listed counterpart Wing Tai Malaysia Berhad (WTM) at RM1.80 cash per share – a move seen as streamlining its businesses, and which may be a re-rating catalyst for the counter.  The offer price represents about 52.5 per cent premium over WTM’s last traded price of RM1.18 on Monday and 57.9 per cent to its three-month volume weighted average market price.
http://www.businesstimes.com.sg/companies-markets/wing-tai-holdings-launches-rm291m-takeover-bid-for-malaysian-counterpart
http://www.straitstimes.com/business/companies-markets/wing-tai-makes-94m-takeover-bid-for-malaysia-counterpart

SingHaiyi Group’s Q4 profit soars
Profit of real estate company SingHaiyi Group soared to S$22.15 million in the period ended March 31, 2017 from S$8.36 million in the same fourth quarter last year.  This is despite a lower rise in revenue to S$8.19 million, by only a 0.8 per cent from S$8.13 million in the previous Q4.  The group said its revenue contribution in FY2017 was mainly from the sales of completed units from Vietnam Town, its commercial condominium project in the United States. It had also completed the disposal of its 20 per cent equity interest in Perennial Somerset Investors for S$100 million on March 31.
http://www.businesstimes.com.sg/companies-markets/singhaiyi-groups-q4-profit-soars

Yoma Q4 net profit jumps 171% to S$24m
Yoma Strategic Holdings posted a 171 per cent jump in its fourth-quarter net profit to S$24.08 million from S$8.9 million led mainly by higher fair value gain on its investment properties.  Revenue in the final quarter ended March rose 18 per cent to S$53.8 million led by improved revenue from across all segments including sales of residences and land development rights, real estate rental and services and automotive and heavy equipment.
http://www.businesstimes.com.sg/companies-markets/yoma-q4-net-profit-jumps-171-to-s24m

One-off gains boost Boustead Singapore Q4 net profit to S$9.2m
One-off gains resulted in technology and engineering group Boustead Singapore reporting a net profit of S$9.2 million for its fourth quarter ended March 31, 2017, more than double from S$4.1 million a year ago.  Revenue dropped 19 per cent to S$91 million from S$112.5 million a year ago, mainly due to a fall in revenue for the real estate solutions arm.
http://www.businesstimes.com.sg/companies-markets/one-off-gains-boost-boustead-singapore-q4-net-profit-to-s92mhttp://www.straitstimes.com/business/companies-markets/bousteads-fourth-quarter-earnings-get-a-124-boost

Views, Reviews & Forum

Creating globalised smart cities requires a local approach
The scale and speed of urbanisation across the world is a source of challenge to cities.  The United Nations estimates that by 2050, two-thirds of the world’s population will live in urban areas, and by 2030, 41 cities will have a population of at least 10 million.
http://www.straitstimes.com/opinion/creating-globalised-smart-cities-requires-a-local-approach?login=true

Looking beyond finance
Across the globe – in developed and developing countries alike – insufficient and outdated infrastructure is eroding the quality of life for individuals and slowing national economic development. Adding to the challenge, trillions of dollars in infrastructure investment are needed annually just to keep pace with expected population growth. 
http://www.businesstimes.com.sg/hub/2017-global-infrastructure-initiative/looking-beyond-finance

Global Economy & Global Real Estate

US rate hike in June ‘a distinct possibility’: Federal Reserve’s Harker
http://www.businesstimes.com.sg/government-economy/us-rate-hike-in-june-a-distinct-possibility-federal-reserves-harker

New home sales tumble from near 9-1/2-year high
http://www.todayonline.com/business/new-home-sales-fall-near-9-12-year-high

Brexit kills British appetite for Spanish holiday homes as uncertainty weighs on pound
http://www.businesstimes.com.sg/real-estate/brexit-kills-british-appetite-for-spanish-holiday-homes-as-uncertainty-weighs-on-pound

China Downgraded to A1 by Moody’s on worsening debt outlook
http://www.businesstimes.com.sg/government-economy/china-downgraded-to-a1-by-moodys-on-worsening-debt-outlook
http://www.channelnewsasia.com/news/business/moody-s-downgrades-china–expecting-financial-strength-to-erode-as-debt-rises-8877696
https://www.bloomberg.com/news/articles/2017-05-24/china-downgraded-to-a1-by-moody-s-on-worsening-debt-outlook

Forest City developer on the hunt for success
http://www.straitstimes.com/business/property/forest-city-developer-on-the-hunt-for-success

Garden City inspires project planners
http://www.straitstimes.com/business/garden-city-inspires-project-planners

Aussie housing risk no deterrent as mortgage bond sales boom
http://www.businesstimes.com.sg/real-estate/aussie-housing-risk-no-deterrent-as-mortgage-bond-sales-boom

Australia sees rush for securitised home loans
http://www.businesstimes.com.sg/banking-finance/australia-sees-rush-for-securitised-home-loans

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article
http://business.asiaone.com/property/news
http://www.btinvest.com.sg/property
http://www.propertyguru.com.sg/market-news
http://www.srx.com.sg/singapore-property-news
http://www.stproperty.sg/articles-property/singapore-property-news/c/11
http://www.theedgeproperty.com.sg/property-news

Scroll to Top