DAILY NEWS

Daily News – 4 Dec 2019

Singapore Real Estate

Government holds housing land sales steady amid supply-demand gap
The government is holding land supply for private homes steady for the first half of 2020, which should keep the residential market stable amid a big supply of unsold units. It said on Tuesday that it will keep the supply of private housing units on the confirmed list for the H12020 government land sales (GLS) programme broadly similar to that for H22019.
https://www.businesstimes.com.sg/real-estate/government-holds-housing-land-sales-steady-amid-supply-demand-gap
https://www.straitstimes.com/business/steady-supply-of-private-housing-for-2020-first-half

Hakka association selling 13 semi-detached houses in Bukit Timah at S$38m guide price
Fong Yun Thai Association has put up its portfolio of 13 strata-titled semi-detached houses at Eleven @ Holland for sale via an expression of interest with a S$38 million guide price, marketing agent WTG Property announced on Wednesday. Said Chai Chin Yun, marketing director of WTG Property: “At the guide price, it works out to be approximately S$2.93 million for each house. A semi-detached house in…
https://www.businesstimes.com.sg/real-estate/hakka-association-selling-13-semi-detached-houses-in-bukit-timah-at-s38m-guide-price

Two plum sites in latest land sales; Bt Timah plot to revive Jln Anak Bukit vicinity
Two plum sites – Jalan Anak Bukit for mixed development and Tanah Merah Kechil Link residential site – have been offered in the latest Government Land Sales (GLS) programme for 1H 2020. The sites are well located near MRT stations, with the Jalan Anak Buikit site having an integrated bus interchange which will provide amenities for commuters and residents in the area.
https://www.businesstimes.com.sg/real-estate/two-plum-sites-in-latest-land-sales-bt-timah-plot-to-revive-jln-anak-bukit-vicinity

Singapore Economy

Factory slump may be easing even as PMI stays in contraction
Manufacturing sentiment remains in the doldrums but a key gauge out yesterday suggests that the seven-month slump at the factory gate may be ending. The Purchasing Managers’ Index (PMI) came in at 49.8 last month, 0.2 point up on October’s reading but still in contraction territory. A reading above 50 indicates expansion.
https://www.straitstimes.com/business/economy/factory-slump-may-be-easing-even-as-pmi-stays-in-contraction
https://www.businesstimes.com.sg/infographics/singapore-factory-activity-slide-eases-in-november

Singapore business sentiment up slightly in Q1 2020; hiring to drop
Business sentiment among local firms has risen slightly for the first quarter of 2020, according to the latest Business Optimism Index study by the Singapore Commercial Credit Bureau (SCCB). The services sector was the most upbeat, but hiring overall is expected to take a hit.
https://www.businesstimes.com.sg/government-economy/singapore-business-sentiment-up-slightly-in-q1-2020-hiring-to-drop
https://www.straitstimes.com/business/economy/singapore-business-confidence-rises-for-q1-next-year-survey

Singapore retailers score hat trick with mega sales events
It’s officially sale season, and while consumers are happy with the deals they scored from the Black Friday and Cyber Monday sales, retailers are even happier with their takings at the till. Consumer electronics retailer Gain City, which operates both online and physical stores, told The Business Times it saw a whopping 413 per cent increase in revenue for this year’s Black Friday event, compared to that in 2018.
https://www.businesstimes.com.sg/consumer/singapore-retailers-score-hat-trick-with-mega-sales-events

Govt strategy will be to transform, support, sustain, says Indranee
Helping businesses to innovate, go regional and build capabilities is a priority for the government even as it helps workers to upskill and reskill to seize new opportunities, Second Minister for Finance Indranee Rajah said on Tuesday. In the first official speech to outline the government’s strategies for Budget 2020, Ms Indranee said it can be summarised in three words: transform, support and sustain.
https://www.businesstimes.com.sg/government-economy/govt-strategy-will-be-to-transform-support-sustain-says-indranee
https://www.straitstimes.com/singapore/next-budget-to-transform-industries-and-workforce-ensure-sustainability

Salaries projected to rise 3.7% in 2020: Mercer survey
Salaries in Singapore will see another modest increase next year, forcing companies to turn to other incentives to retain staff, according to a survey by global consultancy firm Mercer. The overall salary increase projected for 2020 is 3.7 per cent compared to 3.6 per cent in 2019, said the firm in its annual Singapore Total Remuneration Survey.
https://www.businesstimes.com.sg/government-economy/salaries-projected-to-rise-37-in-2020-mercer-survey
https://www.straitstimes.com/business/economy/pay-to-rise-but-firms-also-looking-at-other-incentives-survey

Companies’ Brief

Parkway Life Reit to buy three nursing rehabilitation facilities in Japan for 3.7b yen
PARKWAY Life Reit (PLife Reit) is acquiring three nursing rehabilitation facilities in Japan for a total of 3.7 billion yen (approximately S$46.3 million) from KK Habitation, Fuyo Shoji Kabushiki Kaisha and Medical Corporation Shojinkai. The facilities are priced at about 7 per cent below valuation and are expected to generate a net property yield of 6.8 per cent, which is expected to deliver immediate yield growth to PLife…
https://www.businesstimes.com.sg/companies-markets/parkway-life-reit-to-buy-three-nursing-rehabilitation-facilities-in-japan-for-37b

BHG Retail Reit seeks to buy Beijing mall for S$455m
THE manager of BHG Retail Real Estate Investment Trust (Reit) is proposing to acquire a mall in Beijing for S$455 million. The proposed acquisition of Badaling Outlets would be the Reit’s first investment in an outlet mall, the manager said in a regulatory filing on Tuesday.
https://www.businesstimes.com.sg/companies-markets/bhg-retail-reit-seeks-to-buy-beijing-mall-for-s455m
https://www.straitstimes.com/business/companies-markets/bhg-retail-reit-to-buy-beijing-outlet-mall-for-455m-0

Thakral buys Queensland property to grow its retirement housing portfolio
MAINBOARD-LISTED Thakral Corporation is acquiring 46.4 hectares of land in Queensland, Australia to expand its development of “resort-style” retirement housing, with A$20 million (S$18.7 million) committed to developing the property. This acquisition, subject to regulatory approval, is made through its GemLife joint venture for over-50s lifestyle resorts. With this addition, GemLife’s portfolio has grown to seven such…
https://www.businesstimes.com.sg/companies-markets/thakral-buys-queensland-property-to-grow-its-retirement-housing-portfolio