DAILY NEWS

Daily News – 4th May 2018

Top Story

Singapore Inc needs X-factor to take wing beyond home market
Wanted: the X-factor for Singapore Inc. Singapore firms need “something special” to step up to the international stage and to transform into companies like those from Switzerland and China, which manufacture quality products sold around the world, said Minister for Finance Heng Swee Keat.
http://www.businesstimes.com.sg/government-economy/singapore-inc-needs-x-factor-to-take-wing-beyond-home-market
https://www.straitstimes.com/business/economy/spore-firms-need-x-factor-to-thrive-globally-heng

Talent gap for 20 major economies to hit 85m workers
Singapore is short of more than 1 million skilled workers – a gap that could translate into revenue losses of US$106.8 billion annually by 2030, according to a new study. The study by human resources firm Korn Ferry sought to uncover the extent of the talent shortfall in 20 major economies at three milestones: 2020, 2025 and 2030.
http://www.businesstimes.com.sg/government-economy/talent-gap-for-20-major-economies-to-hit-85m-workers

Region tipped to grow 5.4% this year; 5.2% next year
Growth in Asia is expected to remain robust in the coming years on the back of improving global demand, according to a new report out on Wednesday. But two key risks could derail this rosy outlook: interest rates rising faster than expected, or an escalation in global trade tensions.
http://www.businesstimes.com.sg/government-economy/region-tipped-to-grow-54-this-year-52-next-year
https://www.straitstimes.com/business/economy/growth-in-asia-to-stay-robust-report
https://www.straitstimes.com/business/economy/east-asia-growth-to-ease-to-54-per-cent-this-year-asian-development-bank

Singapore Economy

Singapore Real Estate

Hillview Rise GLS site draws nine bids despite emphasis on innovative methods
A residential site at Hillview Rise enjoyed a fair amount of interest from developers despite its technical requirements. It received nine tender submissions at the close of the government land sale (GLS) tender under a dual-envelope system. JLL national director of research and consultancy Ong Teck Hui deemed the level of participation a reflection of “fair interest” from developers, given the tender conditions, which place a huge emphasis on construction productivity.
http://www.businesstimes.com.sg/real-estate/hillview-rise-gls-site-draws-nine-bids-despite-emphasis-on-innovative-methods

HDB resale prices down 0.8% from March after gain
Resale prices of Housing Board flats fell 0.8 per cent last month from March, negating the month-on-month gain made in March from February. According to flash data released by real estate portal SRX Property yesterday, prices in April dipped 2.4 per cent from the same month last year, and are down 13.5 per cent since the peak in April 2013.
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-down-08-from-march-after-gain
http://www.businesstimes.com.sg/real-estate/hdb-resale-prices-fall-08-m-o-m-in-april-as-volume-drops-25-srx

More spats between MCSTs and owners, collective sale cases
More cases were filed with the Strata Titles Boards (STB) last year than in each of the preceding two years, with nearly half of the overall total involving spats between management corporations of strata-titled developments (MCSTs) and unit owners or collective sale cases. These applications make up a category known as non-water leakage cases, which saw a total of 56 cases last year – more than twice the 2015 total of 27.
https://www.straitstimes.com/singapore/housing/more-spats-between-mcsts-and-owners-collective-sale-cases
https://www.straitstimes.com/singapore/housing/two-reports-highlight-growing-trend

Companies’ Brief

Hatten Land enters mall management business
Hatten Land is going into the mall management business with a new retail space and property management unit, the Malaysian property developer listed on the Catalist board said on Thursday. Hatten Commercial Management will provide leasing and retail management to commercial retail units within the malls developed by the group.
http://www.businesstimes.com.sg/real-estate/hatten-land-enters-mall-management-business

OUE Lippo Healthcare issues profit warning for Q1
OUE Lippo Healthcare expects to report a net loss for the first quarter ended March 31, the group said in an exchange filing late on Thursday night. The healthcare group said that the loss is attributable mainly to operating costs. Further details will be disclosed when its releases its results on or before May 15.
http://www.businesstimes.com.sg/companies-markets/oue-lippo-healthcare-issues-profit-warning-for-q1
https://www.straitstimes.com/business/companies-markets/oue-lippo-healthcare-issues-profit-warning-for-q1

Tiong Seng bags S$50m contract for construction of primary school compound in Punggol Way
Mainboard-listed Tiong Seng Holdings has been awarded a S$49.9 million contract with the Ministry of Education (MOE) for the construction of a new primary school compound in Punggol Way, it said on Thursday evening. Construction is due to commence in May 2018. In a filing with the Singapore Exchange, the construction group and property developer added that it “will leverage on its in-house prefabricated prefinished volumetric construction (PPVC) capabilities” during the construction process.
http://www.businesstimes.com.sg/companies-markets/tiong-seng-bags-s50m-contract-for-construction-of-primary-school-compound-in

Views, Reviews, Forum & Others

E-payment market will get more fragmented before it gets better
The e-payment industry in Singapore is becoming increasingly fragmented – with even more non-financial players entering the space – – while it should be moving towards an integrated seamless customer experience.
http://www.businesstimes.com.sg/companies-markets/e-payment-market-will-get-more-fragmented-before-it-gets-better