DAILY NEWS

Daily News – 3 February 2016

Singapore Economy

2016 investments target lowered to S$8-10b
The amount of investments in Singapore in 2015 may have exceeded the government’s forecasts, but the uncertain global economic outlook will likely result in the numbers falling this year. The Economic Development Board (EDB), the country’s main economic planning agency, revealed on Tuesday that fixedasset investments dropped to S$11.5 billion last year, down slightly from S$11.8 billion in 2014.
http://www.businesstimes.com.sg/government-economy/2016-investments-target-lowered-to-s8-10b

S’pore is 75th in ‘city momentum’ rankings
Singapore dropped from 17th place in 2015 to 75th place in 2016 on JLL’s City Momentum Index (CMI). It has gone from being one of the top rental performers globally in 2014, to languishing in the third quartile of some 120 cities analysed by the real estate consultancy.
http://www.businesstimes.com.sg/real-estate/spore-is-75th-in-city-momentum-rankings

Singapore stays 2nd freest economy in world after HK
Singapore has retained its position as the second freest economy in the world after Hong Kong in the 2016 Index of Economic Freedom. Hong Kong also remained in top spot this year despite a one point dip in its score to 88.6, on the back of its open markets, robust property rights and highly competitive fiscal policies, the report said. Singapore had a score of 87.8, down 1.6 points.
http://www.businesstimes.com.sg/government-economy/singapore-stays-2nd-freest-economy-in-worldafter-hk

Manufacturing still key sector for S’pore: EDB
While weaker global demand is likely to continue affecting Singapore’s manufacturing output, the Economic Development Board (EDB) is confident about the “underlying health” of the sector. “We remain attractive (in manufacturing), as you can see from the fixed-asset investments that we are bringing in,” said the agency’s chairman Beh Swan Gin on Tuesday.
http://www.businesstimes.com.sg/government-economy/manufacturing-still-key-sector-for-spore-edb
http://www.channelnewsasia.com/news/business/singapore/investment-levels-in-2016/2480026.html
http://www.todayonline.com/business/inbound-investments-set-plunge-year-edb

Tripartite talks focus on protecting S’porean core
Protecting the Singaporean core was the dominating concern of 50 government, business and labour leaders at a closed-door discussion on Tuesday evening, as they grappled with the prospect of a slowgrowing workforce. The key takeaway from what participants described as a “very candid” discussion was this: As long as companies keep their focus on hiring a Singaporean core, the government will allow a more flexible labour market for companies to grow their business.
http://www.businesstimes.com.sg/government-economy/tripartite-talks-focus-on-protecting-sporean-core

Singapore Real Estate

South Beach, Studio M owner exploring external operators
IntensifyinG competition in the Singapore hotel market has upped the ante for owners to look for ways to enhance performance and profits amid a soft market. The Hong Leong Group, one of the most established hotel owners and operators in Singapore, is said to have engaged JLL Hotels to study the feasibility of appointing international hotel chains to manage two of the group’s Singapore hotels – The South Beach opposite Raffles Hotel and Studio M Hotel along Mohamed Sultan Road.
http://www.businesstimes.com.sg/real-estate/south-beach-studio-m-owner-exploring-external-operators

Rule dents small caps’ market values: study
Mandatory quarterly reporting could cost Singapore-listed small-caps an average of S$9.0 million in “lost” market value that they might have had otherwise, academics have found. The controversial rule also does not actually improve small-caps’ liquidity and overall imposes a net burden on these firms, they said in a paper published last week.
http://www.businesstimes.com.sg/companies-markets/rule-dents-small-caps-market-values-study

2015 property investment sales lowest since 2009
Property investment sales last year hit their lowest level since the global financial crisis in 2009, according to a report out yesterday. It noted that the value of transactions dropped 9 per cent to $16 billion, mainly due to the mismatch of price expectations between buyers and sellers and the slowdown in launches of new sites in the Government Land Sales (GLS) programme.
http://www.straitstimes.com/business/property/2015-property-investment-sales-lowest-since- 2009?login=true

Companies’ Brief

Stock market blues and property prices
A rocky start to the year on the local stock market and the spectre of rising interest rates could bring the vexed question of Singapore’s property cooling measures to a head sooner rather than later. So far, the Government has signalled it has no plans to tweak the measures, unveiled from 2009 to 2013, when the local property market was red hot.
http://www.straitstimes.com/opinion/stock-market-blues-and-property-prices

Colliers fills industrial services team with new recruits
COLLIERS International (Singapore) has renewed its industrial services team with new additions. The team will be headed by industrial space veteran Lim Kien Kim, who joins Colliers as executive director. Together with him are three others – Catherine Ng joins Colliers as a director; Steven Chew as senior manager; and Marine Lee as manager.
http://www.businesstimes.com.sg/real-estate/colliers-fills-industrial-services-team-with-new-recruits

Century 21 Singapore joins SRX membership
CENTURY 21 Singapore Holdings Pte Ltd (C21), together with its affiliates, has become a member of Singapore Real Estate Exchange (SRX), joining 14 other agencies that have already done so. There are some 410 real estate agents registered under the C21 franchisees in Singapore after the latest licence renewal with the Council for Estate Agencies (CEA) – a significant jump from slightly more than 300 agents last year.
http://www.businesstimes.com.sg/real-estate/century-21-singapore-joins-srx-membership

Metro Holdings group MD, Jopie Ong, dies
The group managing director of retailer and property firm Metro Holdings, Mr Jopie Ong Hie Koan, died last night. Mr Ong, who was in his 70s, had helmed Metro Holdings since 1973.
http://www.straitstimes.com/singapore/metro-holdings-group-md-jopie-ong-dies
http://www.channelnewsasia.com/news/singapore/metro-group-managing/2481712.html