Singapore Real Estate
Prime areas lead slide in private home prices in Q1
Apartments and condos in the prime areas or Core Central Region (CCR) led declines in private home prices in the first quarter of this year. Compared with the other submarkets, CCR has been the hardest hit by last July’s hike in additional buyer’s stamp duty (ABSD) rates, which impacts investors and foreigners more severely, points out JLL senior director of research and consultancy Ong Teck Hui.
HDB resale prices down 0.3% in Q1
Housing and Development Board (HDB) resale flat prices dipped 0.3 per cent in the first quarter of 2019 compared with the quarter before, according to the latest flash estimates released on Monday. The resale price index was 131, down from the 131.4 in the fourth quarter of 2018. The final figures, with more detailed public housing data, will be released on April 26.
Singapore unveils Prioritisation Matrix planning tool to guide firms in Industry 4.0 transformation
Companies unsure of how to embark on their Industry 4.0 transformations now have a clearer guide in the form of a Prioritisation Matrix planning tool developed by the Economic Development Board and its knowledge partners. Launched by Senior Minister of State for Trade and Industry Koh Poh Koon at the Hannover Messe tech show on Monday, the Prioritisation Matrix builds on the Smart Industry Readiness Index (SIRI) and accompanying Assessment Matrix established in November 2017.
Economists see no further MAS tightening in April
With the United States Federal Reserve signalling a pause in interest rate hikes and both domestic growth and core inflation easing, economists expect the Monetary Authority of Singapore (MAS) to also pause at this month’s half-yearly policy review, with no further tightening as yet. February’s core inflation reading was 1.5 per cent year on year, down from January’s 1.7 per cent. The lower-than-expected figure “cements the case for a pause at the upcoming MAS April review”, said ANZ head of Asia research Khoon Goh, adding that there is “no pressing need for the MAS to further tighten policy at this stage”.
Keppel, Sembcorp reinvention – from rigs to urban solutions
They are both world leaders in the offshore and marine engineering space, but over the past five years, home-grown Keppel Corp and Sembcorp Industries have embarked on bold strategies that have transformed them beyond building rigs for ultra-harsh sea conditions and into sustainable urban solutions providers. As recently as 2014, offshore and marine (O&M) was their biggest earnings contributor; but today O&M no longer takes the driver’s seat.
Keppel acquires stake in electric vehicle battery businesses for US$50m
Keppel Corporation has signed an agreement with Envision AESC to invest US$50 million for a minority stake in intelligent lithium-ion battery company Envision AESC Group. Envision AESC Group recently acquired Automotive Energy Supply Corporation (AESC), a former venture between Nissan Motor Company (Nissan) and the NEC Group. It has also acquired the entire share capital of NEC Energy Devices, a battery electrode manufacturing company owned by NEC Corporation.
Low Keng Huat Q4 profit drops 34% to S$3.5m
Low Keng Huat (Singapore) posted a 34 per cent fall in fourth-quarter net profit to S$3.5 million from S$5.3 million a year ago, mainly due to lower profit from property development and investment, the company said in a regulatory filing on Monday night. Revenue for the three months ended Jan 31, 2019, sank 69 per cent to S$8.9 million from S$28.6 million the previous year.
Green Build back in black with 12.2m yuan profit for FY18
Green Build reversed its FY2017 loss of 7.2 million yuan (S$1.5 million) to report a 12.2 million yuan profit for its latest FY2018 financial results. Consequently, the construction firm’s earnings per share was 4.95 fen, compared to a loss per share of 2.98 fen for fiscal 2017. Revenue dropped 70.1 per cent from 322.7 million yuan to 96.5 million yuan, mainly due to the substantial completion of Phase 1 of the underground utility tunnel project in FY2017.
Global Economy & Global Real Estate
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