DAILY NEWS

Daily News – 25 Feb 2020 (Tue)

Singapore Real Estate

S’pore a Reit hub with most foreign listings
Singapore is becoming a hub for the property management industry: It has more foreign real estate investment trusts (Reits) than anywhere else in the world, and the companies’ importance on the nation’s benchmark equity index is the highest it has ever been.
https://www.straitstimes.com/business/companies-markets/spore-a-reit-hub-with-most-foreign-listings

Singapore Economy

Singapore inflation starts the year shakily
Singapore’s official inflation outlook was left untouched on Monday. But a weaker-than-expected reading in January, coupled with the hit from the global Covid-19 epidemic, has pushed analysts towards expectations that the Monetary Authority of Singapore (MAS) will ease monetary policy to neutral at its review in April.
https://www.businesstimes.com.sg/government-economy/singapore-inflation-starts-the-year-shakily
https://www.straitstimes.com/business/economy/core-inflation-eases-to-03-in-january

Global spread may hurt Singapore economy further
An unexpected surge of coronavirus cases outside China has raised concerns about a more severe impact on the trade-dependent Singapore economy. The sudden emergence of large clusters of infections in South Korea, Italy and Iran over the weekend sparked fears of a global pandemic, walloping stocks and currencies across the globe.
https://www.straitstimes.com/business/economy/global-spread-may-hurt-singapore-further

Companies’ Brief

Some landlords offering virus relief packages to tenants
CapitaLand, Mapletree Commercial Trust (MCT), APM Property Management and Perennial Real Estate Holdings are rolling out measures to help cash-strapped retail tenants, with initiatives ranging from releasing one month’s security deposit to offset rental payments to granting rental rebates.
https://www.businesstimes.com.sg/companies-markets/some-landlords-offering-virus-relief-packages-to-tenants
https://www.straitstimes.com/business/economy/malls-roll-out-measures-to-help-tenants-tide-over-crisis

Frasers Commercial Trust obtains S$100m sustainability-linked loan
The trustee of Frasers Commercial Trust (FCOT) has taken out a S$100 million sustainability-linked loan to refinance existing borrowings. The five-year term loan is based on the sustainability-linked loan principles issued by the Loan Market Association and the Asia Pacific Loan Market Association, FCOT’s manager announced on Monday night.
https://www.businesstimes.com.sg/companies-markets/frasers-commercial-trust-obtains-s100m-sustainability-linked-loan

Oxley unit to issue S$75m notes with 6.5% coupon
Oxley Holdings’ wholly-owned subsidiary, Oxley MTN, has priced its new S$75 million, three-year notes at 6.5 per cent. The notes will mature on Feb 28, 2023, the mainboard-listed property developer announced on Monday night.
https://www.businesstimes.com.sg/companies-markets/oxley-unit-to-issue-s75m-notes-with-65-coupon

SPH expands aged care business with 5.26b yen Japan acquisition
Singapore Press Holdings (SPH) will acquire five aged care assets in Japan for 5.26 billion yen (S$65.8 million) as part of its strategy to expand to markets with fast-ageing populations. This marks the media and property group’s first overseas investment for its aged care business.
https://www.businesstimes.com.sg/companies-markets/sph-expands-aged-care-business-with-526b-yen-japan-acquisition
https://www.straitstimes.com/business/companies-markets/sph-buys-five-aged-care-homes-in-japan-for-66m

Aspial’s fiscal 2019 profit falls 55.2% to S$12.7m
Aspial Corporation posted a 55.2 per cent drop in net profit to S$12.7 million for the financial year ended Dec 31, 2019, from S$28.3 million a year ago. This was mainly due to lower revenue as a result of weaker performance from its real estate business, according to the property developer and jeweller’s results released on Monday.
https://www.businesstimes.com.sg/companies-markets/aspials-fiscal-2019-profit-falls-552-to-s127m

Views, Reviews, Forum & Others

Singaporeans must not succumb to fear in fight against Covid-19 scourge
Singapore reported its first case of the novel coronavirus or Covid-19 on Jan 23. Given the fast-evolving circumstances in dealing with this novel virus, there is much to gain by taking stock of the situation at the one-month mark.
https://www.businesstimes.com.sg/opinion/singaporeans-must-not-succumb-to-fear-in-fight-against-covid-19-scourge