DAILY NEWS

Daily News – 6 January 2016

Singapore Economy

‘Manageable’ risks ahead for Singapore economy: UOB
The impact of the past two days’ Chinese stock market rout on China’s economy will be limited, as the country makes a transition towards a more stable and mature financial system, UOB economists have said. And China’s transition is but one of the shifts that will make an impact on Singapore’s economy in the year ahead, together with oil prices and other geopolitical risks, but these will not be disrupting Singapore’s growth too much, they suggested at a media briefing on Tuesday.
http://www.businesstimes.com.sg/stocks/manageable-risks-ahead-for-singapore-economy-uob

Singapore Real Estate

Singapore Home Prices Post Longest Losing Streak in 17 Years
Singapore home prices dropped for a ninth quarter, posting the longest losing streak in 17 years, as tighter mortgage curbs cooled demand in Asia’s second-most expensive housing market. An index tracking private residential prices fell 0.5 percent in the three months ended Dec. 31 from the previous quarter, according to preliminary data from the Urban Redevelopment Authority on Monday.
http://www.bloomberg.com/news/articles/2016-01-04/singapore-home-prices-post-longest-losing-streakin-17-years

That Uber Driver Might Just Try to Sell You a Home in Singapore
http://www.bloomberg.com/news/articles/2016-01-05/that-uber-driver-might-just-try-to-sell-you-a-homein-singapore

Companies’ Brief

Manulife may make new Reit listing bid
Canadian financial services giant Manulife could revive plans to list a real estate investment trust (Reit) here after an initial public offering (IPO) fell through last year. The firm had lodged a preliminary prospectus last June to list some of its US property assets in Manulife US Reit on the Singapore Exchange. However, the planned IPO was delayed in July as the firm cited concerns about the volatile share market.
http://www.straitstimes.com/business/banking/manulife-may-make-new-reit-listing-bid

Ascendas Hospitality may attract more than one offeror
There is likely going to be more than one bid for Ascendas Hospitality Trust (A-HTRUST). The Business Times understands from people close to the deal that managers of the real estate investment trust (Reit) have begun inviting other interested bidders to put in their offers for the Reit.
http://www.businesstimes.com.sg/companies-markets/ascendas-hospitality-may-attract-more-than-oneofferor

SPH Reit posts unchanged Q1 DPU of 1.33 cents
SPH Reit on Tuesday reported a distribution per unit of 1.33 Singapore cents for the first quarter, unchanged from the same period a year ago. The period saw the weak retail sentiment dampening rental uplift at Paragon, one of two shopping malls in its portfolio.
http://www.businesstimes.com.sg/companies-markets/sph-reit-posts-unchanged-q1-dpu-of-133-cents
http://www.straitstimes.com/business/companies-markets/sph-reits-quarterly-distributable-income-up-38

Yoma Strategic
The existing land, sitting on the site of the former headquarters of the Myanmar Railway Company, will be developed by Yoma into a two million sq ft project comprising a Peninsula Hotel, luxury residences, hotels and commercial developments.
http://www.businesstimes.com.sg/companies-markets/brokers-take-204

Property
The impact of the interest rate hike on Singapore real estate investment trust (Reit) distributions is minimal in the near term (0.4-4.6 per cent drop in distribution per unit (DPU) for a 100-basis point rise) due to the long debt maturity period and high proportion of fixed-rate debt.
http://www.businesstimes.com.sg/companies-markets/brokers-take-204

2 senior appointments and 2 departures at Colliers International
Colliers International announced on Tuesday two new senior appointments to strengthen its Singapore team, while also disclosing that one of its deputy managing directors Calvin Yeo had left the company. The departure of Mr Yeo, the head of the Office Services team, follows a spate of resignations last year by senior executives, including former Singapore managing director Dennis Yeo.
http://www.businesstimes.com.sg/real-estate/2-senior-appointments-and-2-departures-at-colliersinternational