The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 4 March 2022 (Fri)

Singapore Real Estate

House of Tan Yeok Nee sold to entity linked to Indonesian tycoon
National monument House of Tan Yeok Nee has been sold for an undisclosed amount to an entity linked to the family of low-profile Indonesian tycoon Bachtiar Karim. The Business Times understands the property was sold below the asking price of S$92 million but above S$85 million.

Around the world in 25 themes
In urbanised Singapore, many real estate opportunities take the form of city-type buildings with high-intensity use. As such, private investors might be drawn instead to the historical charm of the city’s limited inventory of low-rise conservation shophouses.


Singapore Economy

STB, Agoda in marketing tie-up to woo more South-east Asian visitors to Singapore
Singapore – Singapore Tourism Board (STB) has teamed up with digital travel platform Agoda on a joint marketing campaign to attract more visitors from South-east Asia to Singapore.


Companies’ Brief

Hongkong Land narrows full-year loss
Hongkong Land, a member of the Jardine Matheson Group, narrowed its net loss to US$349.2 million for the year ended Dec 31, from US$2.6 billion a year ago. The loss included net losses of US$1.3 billion primarily from lower valuations of the group’s investment properties.

Mandarin Oriental trims full-year loss to US$141.4m
Hotelier Mandarin Oriental International narrowed its net loss for FY2021 to US$141.4 million from US$680.1 million the year before. Revenue was up 72.5 per cent to US$316 million following relaxation of travel restrictions in most parts of the world in the second half of 2021…

Temasek invests in new S-E Asian forestry fund
Singapore’s Temasek is backing a new South-east Asian forestry fund as the city-state looks to increase a carbon tax on its biggest emitters. Temasek is among investors including Sumitomo Mitsui Trust Bank that are investing US$120 million into the New Forests Tropical Asia Forest Fund 2, according to Sydney-based New Forests chief executive David Brand.


Views, Reviews, Forum & Others

How Singapore can help shape the future of Asia’s financial markets
In the blink of an eye, a high-speed trading computer can execute 200 million trades today – each action taking just nanoseconds. This is light years ahead of how trades used to be done decades ago, but it is not just about speed.

How big are Russia’s oil majors in Singapore?
Singapore is Asia’s largest oil trading hub, so it is no surprise that Russian energy giants Rosneft, Gazprom and Lukoil all have a presence here. Oanda senior market analyst Jeffrey Halley said the Singapore offices are likely to face challenges doing business.

Asset managers freeze funds with notable exposure to Russia as sanctions bite
Asset management firms have suspended the dealing and valuation of unit trusts with significant exposure to Russia securities, as MSCI and FTSE Russell announced that they would drop Russia from their widely followed equity indexes.

Consumers may face delays for deliveries amid Covid-19 manpower crunch
Singapore – Consumers here may have to wait longer for their goods to be delivered as some logistic providers are dealing with a manpower crunch with Covid-19 cases still high.


Singapore Budget 2022

Grants are useful in short term but transformation is necessary for long haul: business leaders
While government grants help to ease cash flow concerns in the short term, small and medium-sized enterprises (SMEs) need to digitalise, innovate, and improve productivity to thrive in the long term, said panellists at a Budget 2022 Webinar jointly organised by accounting software firm Xero and the Singapore Business Federation.

Gan Kim Yong unveils Singapore Economy 2030 plan aimed at boosting exports to $1 trillion
Singapore – Minister for Trade and Industry, Mr Gan Kim Yong, unveiled a new plan to strengthen local businesses in various sectors with an aim to significantly grow Singapore’s trade volumes by 2030.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore’s Covid-19 weekly infection growth rate at 0.98 with 18,162 new cases
[Singapore] The Covid-19 weekly infection growth rate remained below one at 0.98 on Thursday (March 3), the Ministry of Health (MOH) said in its nightly update. It is the second day in a row that the weekly infection rate dipped under one since Jan 3.

*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

US weekly jobless claims fall for second straight week; layoffs tumble in February

Mortgage rates in the US slid as global markets churn over Russia’s invasion of Ukraine.

UK homebuilder Taylor Wimpey to buy back shares worth £150m after profit rise

German home price rally to slow but cheap money will keep it running: poll

Turkey’s inflation soars to 54.4% even before oil jump kicks in

China looking to reduce social cost of Covid Zero, official says

Japan to extend virus curbs for Tokyo, ease border restrictions

South Korea’s Feb inflation at 3.7%, beats forecast

Covid-19 deaths in Malaysia hit five-month high, most did not have booster shots

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