DAILY NEWS

Daily News – 26th September 2018

Top Story

Singapore property measures may have tempered buying of small units
Going by recent government data, demand for one-bedder apartments, typically favoured by investors in the new home sales market, seems to have moderated, and the buying trend seems to have shifted to slightly larger units. According to an analysis of caveats by OrangeTee & Tie, small units below 500 sq ft, usually the size of one-bedders, accounted for 63 units or 11 per cent of new home sales in August, below the monthly average of 100 units registered from January 2017.
https://www.businesstimes.com.sg/real-estate/singapore-property-measures-may-have-tempered-buying-of-small-units

Singapore Economy

Singapore residents expect to continue working after hitting retirement age: Survey
People in Singapore are living longer, but their savings may peter out sooner than expected as they enter their golden years. A survey released on Tuesday (Sept 25) by international research firm Economist Intelligence Unit (EIU) and insurer Prudential found that most respondents say they plan to rely on a wide range of assets to support themselves financially after they turn 62 – the standard retirement age – but they also plan to rely on drawing a salary.
https://www.straitstimes.com/business/singapore-residents-expect-to-continue-working-after-hitting-retirement-age-survey

Singapore Real Estate

Singapore investors picking Reits over developers
Buy the businesses that hold the real-estate assets rather than the ones that sell them. That’s the message from a growing number of analysts in Singapore who say Reits, or real estate investment trusts, are a better bet than developers in light of the island’s recent cooling measures. For much of 2017 and the first half of this year, Singapore developer stocks had a great run. Rising home prices and climbing sales were among signs the citystate’s residential market was emerging from a deep freeze. That all changed on July 5, when the government shocked the industry by imposing a fresh set of curbs that came into effect at midnight the following day.
https://www.businesstimes.com.sg/companies-markets/singapore-investors-picking-reits-over-developers
https://www.straitstimes.com/business/companies-markets/investors-picking-reits-over-developers

JTC launches tender for 5,953 sq m Tuas South industrial government land sales site
JTC Corp has launched a tender for an industrial land parcel in Tuas South Link 3, the third of six sites to be put up for sale from the confirmed list for the second half of 2018. The 5,953.3 square metre (64,081 square feet) Plot 27, which is bracketed by Tuas South avenues 7 and 16, comes with a lease tenure of 20 years and is being offered under the industrial government land sales scheme.
https://www.businesstimes.com.sg/real-estate/jtc-launches-tender-for-5953-sq-m-tuas-south-industrial-government-land-sales-site

Companies’ Brief

Space was luxury then, small is trend now: SC Global changes tack
The times they are a changin’ – even for high-end home buyers. And luxe developer SC Global is rolling with it. The Simon Cheong vehicle, known for building “Mansions in the Sky” at The Marq, is now going small with its new collection, aptly named Petit Collectibles.
https://www.businesstimes.com.sg/real-estate/space-was-luxury-then-small-is-trend-now-sc-global-changes-tack

Manager of Manulife US Reit upbeat about fundamentals
Anxieties over rising interest rates and the US-China trade war are weighing on Manulife US Reit’s price performance this year, but the Reit’s manager remains upbeat on its prospects. Units in the pure-play US office Reit closed at 80 US cents on Tuesday, up half a cent from Monday, but lower than its initial public offering (IPO) price of 83 US cents.
https://www.businesstimes.com.sg/companies-markets/manager-of-manulife-us-reit-upbeat-about-fundamentals

Sasseur Reit’s unit sued in China for 148m yuan, costs
A subsidiary of Sasseur Reit is being sued in China over a disagreement regarding the final construction sum payable in respect of Sasseur (Hefei) Outlets which were completed in May 2016. Zhongjian Sanju No 2 Construction Engineering Co (ZS2), the plaintiff, is claiming for around 148.4 million yuan (S$29.5 million) and its legal costs.
https://www.businesstimes.com.sg/companies-markets/sasseur-reits-unit-sued-in-china-for-148m-yuan-costs

OUE buys prime land in South Jakarta CBD for 1.63 trillion rupiah
Real estate player OUE has inked a deal for land in South Jakarta’s central business district (CBD). Its subsidiary will pay 1.63 trillion rupiah (S$150 million) in promissory notes for some 8,000 square metres of plots zoned for commercial use, “free and clear of all encumbrances”, in a conditional sale and purchase agreement with Asiatower Sudirman on Tuesday.
https://www.businesstimes.com.sg/companies-markets/oue-buys-prime-land-in-south-jakarta-cbd-for-163-trillion-rupiah
https://www.straitstimes.com/business/companies-markets/oue-buys-prime-land-in-south-jakarta-cbd-for-150m

VIEWS, REVIEWS, FORUM & Others

Ex-GM of Ang Mo Kio Town Council on trial over $107,000 in bribes
During the period a former Ang Mo Kio Town Council general manager allegedly took bribes from two company directors, the town council awarded tenders and contracts worth millions of dollars to the duo’s two companies.
https://www.straitstimes.com/singapore/ex-gm-of-town-council-on-trial-over-107000-in-bribes

Ensuring good corporate governance stewardship
The United Nations (UN) 2030 Sustainability Development Goals (SDGs) were formulated with the aim of bettering the human condition. In a nutshell, they aim to eradicate poverty, achieve gender equality, protect the planet, and promote sustainable development.
https://www.businesstimes.com.sg/hub/sias-investors-choice-awards-2018/ensuring-good-corporate-stewardship