DAILY NEWS

Daily News – 24 Sep 2019

Singapore Real Estate

Bishan Park Condo up for collective sale with S$680m-S$688m guide price
Bishan Park Condominium in District 20 has been launched for collective sale, with the owners expecting offers of around S$680 million to S$688 million, marketing agent ERA Realty said on Tuesday. Located at 14 Sin Ming Walk, the estate comprises five blocks of 10 storeys each, totalling 320 units. The 99-year leasehold development, with 71 years left on its lease, sits on 269,796 square feet (sq ft) of land area with a plot ratio of 2.1.
https://www.businesstimes.com.sg/real-estate/bishan-park-condo-up-for-collective-sale-could-fetch-s680m-to-s688m
https://www.straitstimes.com/business/property/bishan-park-condo-up-for-collective-sale-with-owners-expecting-680m-to-688m

North Bridge Rd commercial building up for sale at S$80m
A commercial building at 333 North Bridge Road is up for sale with an indicative price of S$80 million, with the tender exercise closing on Nov 5 at 3pm. The nine-storey KH KEA Building is located on a corner plot with dual frontage along North Bridge Road and Cashin Street. It is next to Bras Basah Complex and has a 999-year leasehold tenure. Its lease, which started in April 1827, has been in effect for 192 years.
https://www.businesstimes.com.sg/real-estate/north-bridge-rd-commercial-building-up-for-sale-at-s80m

Singapore Economy

Singapore’s core inflation in August stays at 3-year low
Headline inflation rose slightly in August while core inflation remained low and flat, according to figures released yesterday. The mild rise of headline inflation to 0.5 per cent – from 0.4 per cent in July – reflected higher private road transport costs and a smaller decline in accommodation costs, the statement from the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry noted.
https://www.straitstimes.com/business/singapores-core-inflation-in-august-stays-at-3-year-low
https://www.businesstimes.com.sg/infographics/headline-inflation-edges-up-to-05-in-august-core-inflation-stays-flat

Singapore in world’s top 20 for trade growth potential: StanChart study
Singapore continues to show substantial potential for trade growth, according to new research from Standard Chartered Bank (StanChart). The city state came in at 16th place on the bank’s list of the top 20 global markets that are most rapidly improving their individual potential for trade to grow.
https://www.businesstimes.com.sg/government-economy/singapore-in-worlds-top-20-for-trade-growth-potential-stanchart-study-0
https://www.straitstimes.com/business/spore-in-top-20-in-trade-growth-potential-stanchart-study

Q3 technical recession unlikely due to manufacturing uptick: DBS
Singapore’s economy is expected to avert a technical recession in the third quarter this year, thanks to a mild improvement in the manufacturing sector, though support is still warranted, according to a latest report by DBS Group Research. According to DBS analysts, Singapore’s economy will likely register a growth of 0.4 per cent year-on-year and a growth of 2.1 per cent quarteron- quarter in Q3 2019, based on…
https://www.businesstimes.com.sg/government-economy/q3-technical-recession-unlikely-due-to-manufacturing-uptick-dbs
https://www.straitstimes.com/business/economy/spore-to-avert-technical-recession-in-q3-but-support-still-needed-dbs

Companies’ Brief

Keppel to buy 30% of Guangzhou commercial project for HK$141m
The property arm of Keppel Corporation is looking to buy a 30 per cent stake in Win Up Global (WUG) which will ultimately own Westmin Plaza, an office and retail development in Guangzhou, China, for a total investment of HK$141.4 million (S$24.8 million). Keppel Land China, a wholly owned subsidiary of Keppel Land, has entered into a share sale and shareholder loan transfer agreement (SPA) with Chinese real…
https://www.businesstimes.com.sg/companies-markets/keppel-to-buy-30-of-guangzhou-commercial-project-for-hk141m
https://www.straitstimes.com/business/companies-markets/keppel-to-buy-30-of-guangzhou-office-and-retail-project-for-248m