DAILY NEWS

Daily News – 4th Sep 2019

Singapore Real Estate

Tech@SG pilot spurs hopes of demand spike for home rentals
Singapore’s plans to expand its pool of foreign tech talent under a new scheme may help to boost the private home rental market here, property consultants said. “Based on what we’ve seen, there have already been more and more highly skilled expats moving to Singapore from the first quarter of this year. Some of them are regional directors or CEOs,” Christine Sun, head of research and consultancy at OrangeTee said.
https://www.businesstimes.com.sg/real-estate/techsg-pilot-spurs-hopes-of-demand-spike-for-home-rentals

Retail, office strata lots at former Chevron House put up for sale
Five strata lots for retail and office use, spanning seven storeys at 30 Raffles Place, have been launched for sale by joint marketing agents JLL and Cushman & Wakefield. The building, formerly known as Chevron House, is undergoing comprehensive asset enhancement initiative (AEI) works, with property developer Oxley Holdings having agreed to sell it to Golden Compass, the investment vehicle of US real estate fund AEW.
https://www.businesstimes.com.sg/real-estate/retail-office-strata-lots-at-former-chevron-house-put-up-for-sale
https://www.straitstimes.com/business/property/retail-podium-office-space-at-former-chevron-house-up-for-sale-could-fetch-5079m

9 conservation shophouses in Geylang, Joo Chiat put on market
A row of seven adjoining conservation shophouses in Geylang has been launched for sale at a guide price range of S$40 million to S$42 million, marketing agent Knight Frank Singapore said on Tuesday. Also under the same sale exercise are two adjoining conservation shophouses on Joo Chiat Road, offered at a guide price of around S$7 million to S$7.5 million.
https://www.businesstimes.com.sg/real-estate/9-conservation-shophouses-in-geylang-joo-chiat-put-on-market
https://www.straitstimes.com/business/property/row-of-7-geylang-conservation-shophouses-for-sale-at-40-42m-pair-of-joo-chiat-ones

Singapore Economy

SEA’s digital economy a bright spot for Singapore: DPM Heng
South-east Asia’s fast-growing digital economy is set to create more business and job opportunities for Singapore and its people, said Deputy Prime Minister and Finance Minister Heng Swee Keat. Speaking at the launch of e-commerce firm Shopee’s new headquarters, Mr Heng said the growth of the digital economy will be driven by the greater spending power of a rapidly-growing middle class, coupled with…
https://www.businesstimes.com.sg/garage/seas-digital-economy-a-bright-spot-for-singapore-dpm-heng

Singapore factory activity remains in contraction
There was a slight uptick in manufacturing sentiment last month but the sector remained in negative territory for the fourth consecutive month on the back of escalating trade tensions. The purchasing managers’ index (PMI) – an early gauge of factory activity – edged up 0.1 point from July to a reading of 49.9. A reading above 50 indicates expansion; one below points to contraction.
https://www.straitstimes.com/business/spore-factory-activity-remains-in-contraction
https://www.businesstimes.com.sg/infographics/singapore-factory-outlook-edges-up-in-aug-but-still-in-contraction

Singapore takes 40th place in EIU world’s most liveable cities ranking; Vienna in top spot
[Sydney] Time to tell your smug New York friends that they’ve made the wrong life choice: The world’s most liveable cities are generally less global capital, more regional second city, a new ranking shows. Vienna took the No 1 spot in the Economist Intelligence Unit’s (EIU) liveability ranking for the second year running, confirming that life is officially better on the banks of the Danube than it is by the Yarra River in…
https://www.businesstimes.com.sg/government-economy/singapore-takes-40th-place-in-eiu-world%E2%80%99s-most-liveable-cities-ranking-vienna-in
https://www.straitstimes.com/business/economy/singapore-slips-to-40th-most-liveable-city-behind-hong-kong-economist-survey

Companies’ Brief

OUE C-Reit, H-Trust merger becomes effective; creates enlarged S$6.9b Reit
The trust scheme of arrangement for the merger of OUE Commercial Real Estate Investment Trust (C-Reit) and OUE Hospitality Trust (H-Trust) on Wednesday morning became effective and binding. This follows the approval from holders of both trusts on Aug 14 as well as the High Court’s sanction of the trust scheme last month.
https://www.businesstimes.com.sg/companies-markets/oue-c-reit-h-trust-merger-becomes-effective-creates-enlarged-s69b-reit
https://www.straitstimes.com/business/companies-markets/oue-c-reit-h-trust-merger-goes-into-effect-creating-enlarged-69b-reit

Dasin Retail Trust’s private placement 1.2 times subscribed
Dasin Retail Trust has raised S$68.8 million through a private placement that was 1.2 times subscribed in its latest equity fundraising exercise. It will issue about 82.35 million units at S$0.86 apiece, representing a 2.4 per cent discount to the volume weighted average price of S$0.8563 per unit in Dasin Retail Trust for trades on Sept 2, 2019.
https://www.businesstimes.com.sg/companies-markets/dasin-retail-trusts-private-placement-12-times-subscribed
https://www.businesstimes.com.sg/companies-markets/dasin-retail-trust-calls-for-trading-halt-pending-announcements
https://www.straitstimes.com/business/companies-markets/dasin-retail-trust-calls-for-trading-halt-pending-announcements