Singapore slips to eighth position in global innovation index
Singapore remains top of the list for innovation among Asian economies in the 2019 Global Innovation Index (GII). Globally, however, it slipped three notches from last year to place eighth due to a fall in rankings in indicators under innovation input.
Bearing brunt of US-China trade war, Singapore chipmakers cut jobs
Singapore (Reuters) – Caught between a Sino-United States trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters.
Fitch: S’pore’s pharma industry growing in importance
Fitch Solutions Macro Research yesterday said Singapore’s pharmaceutical industry is becoming an “increasingly important” component of the country’s manufacturing sector. This is apparent from the growth in employment and fixed asset investments in the industry…
River Valley hotel plot offers CapLand-CDL integration potential with Liang Court
The appearance of a site in River Valley Road for a hotel development to be integrated with the Fort Canning MRT Station, in the second-half 2019 Government Land Sales Programme, comes at an oppportune time for CapitaLand and City Developments Ltd (CDL).
Mixed impact seen for £ rout on Singapore firms
The British pound, which has fallen since the Brexit vote, took another beating with the changeover at No 10 Downing Street – but its impact on Singapore firms with UK exposure is likely to be mixed. Following former foreign secretary Boris Johnson’s win to replace Theresa May as British prime minister, the sterling slid to a low of 1.6938 SGD on Tuesday.
AA Reit posts flat DPU at 2.5 Singapore cents
Aims APAC Reit (AA Reit) posted a distribution per unit (DPU) of 2.5 Singapore cents for its first quarter ended June 30, unchanged from the year-ago period, the real estate investment trust’s manager said on Thursday morning. Net property income (NPI) grew 18.1 per cent to S$22.9 million, from S$19.4 million in Q1 2019.
Cache Logistics Trust posts 6.9% drop in Q2 DPU to 1.321 S cents
Cache Logistics Trust posted a distribution per unit (DPU) of 1.321 Singapore cents for its second quarter ended June 30, down 6.9 per cent from 1.419 cents from the year-ago period, the real estate investment trust’s (Reit) manager said on Thursday morning.
First Sponsor Q2 earnings up 24.7% to S$15.1m
Mainboard-listed First Sponsor Group on Thursday reported a 24.7 per cent rise in net profit to S$15.1 million for the second quarter, from S$12.1 million a year ago. This comes on the back of increased revenue from the sale of properties and hotel operations. For the three months ended June 30, earnings per share (EPS) stood at 1.86 Singapore cents, up 12 per cent from 1.66 cents a year ago,
HPH Trust’s Q2 performance hit by global trade tensions
Hutchison Port Holdings Trust (HPH Trust), a container port trust affiliated with Hutchison Ports, on Wednesday reported a weaker showing for its fiscal second quarter, no thanks to the ongoing challenges in the global trade environment. HPH Trust reported a 1.4 per cent drop in its revenue and other income for the three months ended June 30 to HK$2.7 billion (S$471 million) from HK$2.8 billion the year before.
ISOTeam to buy construction management firms for S$24m
Catalist-listed ISOTeam will buy Coney International’s entire stake in Pure Group, comprising six construction management firms, for S$24 million in cash and shares. The conditional sale and purchase agreement (SPA) with Coney International and Peter Dodson Coney will be funded by 50 per cent cash and 50 per cent ISOTeam shares.
Libra Group calls for trading halt pending announcement
Libra Group requested a trading halt on Thursday morning, pending the release of an announcement, it said just before the market opened. The counter closed at 5.1 Singapore cents on Wednesday, down 0.6 cent, or 10.5 per cent. The day prior, the counter closed at 5.7 cents, down 0.1 cent or 1.7 per cent.
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Singapore’s Generation Z won’t be mall rats
Singapore’s malls are showing some resilience to the global hollowing out of physical retail by online shopping. The demographics of the smartphone generation are still against them, though. Suburban middle-class shopping centres put up a strong show in CapitaLand Mall Trust’s quarterly earnings on Tuesday.
Approaching the economic slowdown with equanimity
One might expect a quarter of dismally low growth to fan recession fears. Yet perhaps it might be seen as simply the latest in a stream of weak data – a trend that has made for a well-telegraphed slowdown, with Singaporeans by now alert, yet not overly alarmed. Flash figures this month showed Singapore’s second quarter growth nearly flat at 0.1 per cent year on year.
Global Economy & Global Real Estate
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Brazil hopes US$11.2b stimulus spurs economy
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