The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 30th May 2017

Top Story

Prices of completed condos dip 0.6% in April: NUS
Prices of completed private apartments and condominiums slipped 0.6 per cent in April, after rising 0.8 per cent in March.  This is based on flash estimates by the National University of Singapore (NUS) for its overall Singapore Residential Price Index (SRPI) released on Monday.  Faring the worst during the month of April were completed units (excluding small units) in the non-central region, whose prices fell 0.7 per cent.

Singapore Economy

Bank of Singapore now the heavyweight in NRI segment
Bank of Singapore is looking to expand its non-resident Indian (NRI) segment that stretches as far as Rwanda and Congo, following the bolt-on from Barclays’ Asian wealth business that has likely given OCBC’s private banking arm the largest piece of this pie in Asia.

Hudson survey finds pay increase not enough to retain Asia staff
A survey by Hudson has revealed that a pay rise does not guarantee the retention of employees.  Almost 90 per cent of employees anticipate their base salary to increase, but only 42 per cent expressed that a pay rise would be a sufficient reason for them to stay with their organisation for another 12 months.

Changing salary expectations and job interests among fresh grads
Fresh graduates appear to have lowered their salary expectations amid a tight employment market, according to recruitment firms.  Also, banking and energy industries have declined in popularity, with a rising interest towards joining startups.

Perpetual issuance in Asia ex-Japan surges amid hot bond market
Perpetuals or bonds with no fixed maturity are going gangbusters amid an overall hot bond market as institutional investors join in the fray.  Historically, investors in perpetuals were mainly private-bank customers chasing yields, but of late more institutional investors such as fund managers and insurers are willing to buy these hybrid capital instruments, said Clifford Lee, DBS Bank head of fixed income.

Singapore Real Estate

Underpass to Bukit Panjang MRT delayed
A new underpass that will give residents in surrounding HDB blocks fully sheltered access to Bukit Panjang MRT station will be delayed, owing to “difficult ground conditions”.  Originally slated to open together with Downtown Line 2 in December 2015, the third entrance to the station will now be completed only by the end of the year.

Companies’ Brief

KSH optimistic about China, S’pore markets
KSH Holdings is bullish about its prospects in China, but will continue to keep an eye on potential opportunities in the Singapore property market, the company said in a results briefing on Monday.  Over the next few years, it intends to focus on its Sino-Singapore Health City in Gaobeidian, China, near the recently announced Xiongan new special economic zone.

Frasers Centrepoint Trust prices S$30m notes due 2022 at 2.645%
The trustee of Frasers Centrepoint Trust has priced S$30 million of notes due 2022 at 2.645 per cent.  The Series 102 notes under its S$1 billion multicurrency medium-term note programme will be issued on June 5 and will be unconditionally and irrevocably guaranteed by the FCT trustee, HSBC Institutional Trust Services (Singapore) Limited.

Views, Reviews & Forum

The e-commerce party… is everyone on the guest list?
E-commerce is now a staple avenue for shoppers in most countries and for many categories. The size of the global e-commerce industry is expected to top US$2 trillion this year, according to The pace of growth is a scorching 24 per cent year-on-year. Asia is at the forefront of these leaps, accounting for about 50 per cent of the e-commerce market. So, does everyone stand to gain in this non-stop party? On the face of it, it seems so.

Global Economy & Global Real Estate

Three interest rate hikes this year makes sense, says key US Fed banker

Region’s strong growth, low financial reach big pluses for Asian banks

Umbrellas, basketballs join China’s sharing economy

China Evergrande chairman gains US$10b

HK cooling measures fail to deter throngs at property sales

Homebuyers in HK turning to unregulated shadow lenders

Macau billionaire says Tokyo doesn’t need a casino, favours Osaka

World luxury goods sales growth seen up 2-4% in 2017: Bain

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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