The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 27 May 2022 (Fri)

Singapore Real Estate 

9 Marsiling HDB blocks to make way for Woodlands Checkpoint expansion
The Woodlands Checkpoint will be expanded, in a move that will see 9 Housing Board blocks nearby acquired. Blocks 210 to 218 at Marsiling Crescent/Lane will be acquired as part of the massive redevelopment and expansion.


Singapore Economy 

Singapore factory output expands 6.2% in April, led by aerospace production
Singapore’s factory output grew 6.2 per cent year on year in April, led by the transport engineering sector which continued to see good performance this month, according to data from the Singapore Economic Development Board (EDB) on Thursday (May 26).


Companies’ Brief 

Propertyguru’s Q1 FY2022 revenue rises as losses grow on business combination costs
The revenue for regional property marketplace PropertyGuru for Q1 FY2022 ending Mar 31 jumped 42 per cent to S$28.2 million from S$19.9 million, driven by momentum in its marketplaces, it said in a bourse filing on Thursday (May 26).


Views, Reviews, Forum and Others 

Downside risks weigh on economy here
Given persistent external economic headwinds as well as uncertainties, it was only prudent for the Ministry of Trade and Industry (MTI) to qualify that Singapore’s GDP growth is likely to come in at the lower end of its 3 to 5 per cent forecast – that is, 3 to 4 per cent – this year.

Oil price spikes will hit Asia the hardest
Asia is showing signs of particular vulnerability to the current oil price spike at a turbulent time for the region. As the communique from the Asean+3 finance ministers summit warned earlier this month, rising food and energy prices, unexpected monetary policy normalisation in advanced economies, and supply chain disruptions heightened by the Russia-Ukraine conflict are likely to “pose downside risks to the outlook for the region’s trade and investment, growth, and inflation”.

Get on the sustainability agenda, or go out of business
In ranking-obsessed Singapore, there is one particular area that the trade-reliant city-state needs to work harder on: sustainability. A May report by professional services firm PwC and the National University of Singapore’s Centre for Governance and Sustainability showed that only 20 per cent of listed companies in Singapore peg their remuneration of top executives to environmental, social and governance (ESG) factors.

How sustainability can help companies to stay relevant and capture opportunities
The sustainability movement is gaining momentum globally, with growing awareness and calls to act on environmental and social challenges. This has resulted in active steps being taken by various stakeholders to address these issues.

Making supply chain central to sustainability plans
Consumers globally are becoming more socially conscious and making sustainable choices in how they spend their time and money in a post-pandemic world, according to the EY Future Consumer Index.

Relevance and impact of climate change on businesses in Singapore
It is incumbent on all companies to undertake proper climate risk assessments to identify and assess intrinsic operational defects that are susceptible to climate change.

Future World: Sustainability


Global Economy & Global Real Estate

US home sellers cutting prices hits highest level since 2019

US mortgage rates fall to 5.1% in biggest drop since April 2020

US jobless claims fall more than forecast in tight labour  market

Pound touches 3-week high, UK household support plan in place

UK regulator suggests simpler listing rule for London to attract more startups

Putin ties grain exports to demand that sanctions on Russia go

China’s industrial profit falls sharply in April amid Covid curbs

Shanghai heading out of lockdown but China still lost in economic gloom

Shanghai prepares to reopen, but soaring prices, longer-term supply-chain instability expected

China economy worse off in some ways than 2020, Premier Li says

Evergrande to sell project in eastern China for 1.35b yuan

Inflation in Japan’s capital stays elevated as price pressures broaden

Japan to start reopening to foreign tourists from Jun 10

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