DAILY NEWS

Daily News – 27th March 2018

Singapore Economy

Singapore factory output beats expectations; grows 8.9% in Feb
Singapore’s factory output continued to put up a laudable performance in February, dispelling economists’ concerns about the Chinese New Year effect and gloomy export numbers earlier in the month. But despite the surprise upside in manufacturing numbers, the outlook over the next few months still appears clouded as talk about an impending US-China trade war escalates.
http://www.businesstimes.com.sg/government-economy/singapore-factory-output-beats-expectations-grows-89-in-feb
http://www.straitstimes.com/business/economy/feb-factory-output-beats-forecast-with-89-growth

Singapore Real Estate

Total tab for Mandarin Gardens could hit S$4b
If the Mandarin Gardens condominium ends in a successful en bloc sale, the buyer could end up with an overall price tag of S$4 billion. Marketing agent C&H Properties told owners this at a second extraordinary general meeting on Sunday afternoon, where they approved the asking price of S$2.48 billion as well as the method of apportionment.
http://www.businesstimes.com.sg/real-estate/total-tab-for-mandarin-gardens-could-hit-s4b
http://www.straitstimes.com/business/property/mandarin-gardens-owners-approve-248b-price-tag

Companies’ Brief

HBL to invest 40m euros in Credit Suisse fund
Property developer Ho Bee Land (HBL) on Monday said it has agreed to invest up to 40 million euros (S$64.8 million) in Credit Suisse (Lux) European Property Fund II. It has also committed to co-invest up to an additional 50 million euros by acquiring notes issued by a securitisation company called Clouse SA, Compartment 29.
http://www.businesstimes.com.sg/real-estate/hbl-to-invest-40m-euros-in-credit-suisse-fund

HLH inks sale of hotel in Cambodia project for S$15.7m
HLH Group Limited said it has entered into a sale and purchase agreement to sell its 98-room hotel in its D’Seaview project in Sihanoukville, Cambodia for S$15.7 million. The news sent shares of HLH Group leaping by 40 per cent or 0.2 cent to 0.7 cent after active trading that saw 44.5 million shares change hands on Monday.
http://www.businesstimes.com.sg/real-estate/hlh-inks-sale-of-hotel-in-cambodia-project-for-s157m
http://www.straitstimes.com/business/hlh-selling-hotel-in-cambodian-mixed-use-project-for-157m

VIEWS, REVIEWS, FORUM & Others

Need for tie-ups to sew up Holland Rd tender
A key talking point about the recent dual-envelope tender for the commercial and residential site near Holland Village MRT Station was the alliances that surfaced. All 15 entries came from 10 consortiums, with some placing multiple bids. One alliance was between City Developments (CDL) and RB Capital, the first tie-up between the two (more on this later).
http://www.businesstimes.com.sg/companies-markets/need-for-tie-ups-to-sew-up-holland-rd-tender

Improve HDB building regulations to protect people with disabilities
The recent report about the fire at Block 8, North Bridge Road, highlights a clear risk for persons with disabilities living in high-rise residential buildings (Para-archer rescued after fire starts outside his flat; March 23). The current design of Housing Board blocks and its building regulations do not do enough to protect the elderly and people with disabilities.
http://www.straitstimes.com/forum/letters-in-print/improve-hdb-building-regulations-to-protect-people-with-disabilities