Singapore Real Estate
Two Clarke Quay shophouses for sale with S$6.2m guide prices
Two adjoining conservation shophouses in Clarke Quay have been put up for sale via private treaty, with an indicative guide price of S$6.2 million per shophouse, sole marketing agent Edmund Tie said on Thursday.
https://www.businesstimes.com.sg/real-estate/two-clarke-quay-shophouses-for-sale-with-s62m-guide-prices
HDB resale prices rise for fourth straight month in October: SRX
While Housing Board (HDB) resale volume dipped in October compared to the month before, prices have continued to rise, indicating that demand has remained relatively robust amid the Covid-19 pandemic. Thirteen HDB resale flats were sold for more than S$1 million, flash estimates from real estate portal SRX showed on Thursday. It is the highest number of such transactions for a single month.
https://www.businesstimes.com.sg/real-estate/hdb-resale-prices-rise-for-fourth-straight-month-in-october-srx-0
https://www.straitstimes.com/business/property/hdb-resale-prices-rise-for-4th-month-amid-sales-volume-dip
New SingPass feature allows digital signatures for property caveats
Signing legal and business documents online will be made possible with the roll-out of a new feature on national digital identity system SingPass. Its first user is the Singapore Land Authority (SLA), which is piloting the technology to allow the digital signing of property caveats e-lodged with the SLA.
https://www.businesstimes.com.sg/real-estate/new-singpass-feature-allows-digital-signatures-for-property-caveats
https://www.straitstimes.com/tech/tech-news/singpass-app-users-can-sign-documents-online
Alibaba fraternity stamps mark on top-end Singapore properties
Members of the Alibaba fraternity are continuing to invest in Singapore’s high-end residential property market. Yu Yongfu, a member of the Alibaba Partnership, is understood to have bought a duplex penthouse unit at Hilltops, a freehold condominium in the Cairnhill area.
https://www.businesstimes.com.sg/real-estate/alibaba-fraternity-stamps-mark-on-top-end-singapore-properties
Divvying up Robinsons’ space a better leasing option
With substantial plots of prime real estate to be vacated when Robinsons Singapore exits, The Heeren and Raffles City Shopping Centre’s landlords could divide the plots into smaller ones, rather than wait for a major tenant to take over the vast spaces, real estate observers have said.
https://www.businesstimes.com.sg/real-estate/divvying-up-robinsons-space-a-better-leasing-option
Singapore Economy
They came, they saw, but didn’t shop much in Sept
Singapore retail sales fell 10.8 per cent year on year in September, underperforming expectations and reversing the previous two months’ trend of lessening declines, according to the Singapore Department of Statistics (Singstat) on Thursday.
https://www.businesstimes.com.sg/government-economy/they-came-they-saw-but-didnt-shop-much-in-sept
https://www.straitstimes.com/business/economy/spore-retail-sales-fall-by-108-in-sept-steeper-than-in-previous-month
Companies’ Brief
Frasers Logistics & Commercial Trust H2 DPU rises 5.5%
Frasers Logistics & Commercial Trust (FLCT) distribution per unit (DPU) rose 5.5 per cent to 3.65 Singapore cents for its second half ended Sept 30, from 3.46 cents a year ago, its manager said in a regulatory filing on Friday morning.
https://www.businesstimes.com.sg/companies-markets/frasers-logistics-commercial-trust-h2-dpu-rises-55
https://www.straitstimes.com/business/companies-markets/frasers-logistics-commercial-trust-second-half-dpu-up-55
CRCT proposes to buy five business parks, remaining stake in mall for 4.95b yuan
The manager of CapitaLand Retail China Trust (CRCT) has proposed to buy five business park properties and the balance 49 per cent interest in its Rock Square mall asset for an agreed property value of about 4.95 billion yuan (S$1.01 billion) from related parties.
https://www.businesstimes.com.sg/companies-markets/crct-proposes-to-buy-five-business-parks-remaining-stake-in-mall-for-495b-yuan
Hongkong Land expects full-year performance to be ‘moderately affected’
Property developer and investment company Hongkong Land’s full-year underlying performance is expected to be moderately affected by a reduced contribution from its investment properties portfolio, the mainboard-listed company said in an interim management statement on Thursday.
https://www.businesstimes.com.sg/companies-markets/hongkong-land-expects-full-year-performance-to-be-moderately-affected
Manulife US Reit occupancy drops to 94.3%
Manulife US Real Estate Investment Trust’s (Manulife US Reit) manager on Wednesday said portfolio occupancy declined to 94.3 per cent for the three months ended Sept 30. This was largely due to known expiries unrelated to the Covid-19 pandemic and a slowdown in new leasing nationwide, according to a business update.
https://www.businesstimes.com.sg/companies-markets/manulife-us-reit-occupancy-drops-to-943
Views, Reviews, Forum & Others
Scorched-earth strategic thinking for Covid-19 times
Covid-19 has rapidly bent, if not broken, virtually all certainties about business. We do not know how long the crisis will last, but even the most optimistic projections say that we are in for many more months of wrestling with the virus. And the broader ramifications are likely to be with us for significantly longer.
https://www.businesstimes.com.sg/leadership-management/scorched-earth-strategic-thinking-for-covid-19-times-0
Big questions over China’s move on Ant
The surprise, eleventh-hour suspension by China’s regulators of Ant Financial’s US$34 billion (S$46 billion) initial public offering (IPO) and dual listing in Shanghai and Hong Kong, which was to take place yesterday, was an extraordinary development that sent shock waves through the international financial community.
https://www.straitstimes.com/opinion/st-editorial/big-questions-over-chinas-move-on-ant-0
Update on COVID-19 (Coronavirus Disease 2019) Situation
Seven new virus cases, including one in community
OCBC Centre in Raffles Place and Al-Hussain Res-taurant in Tampines were visited by coronavirus patients while they were infectious, the Ministry of Health said yesterday. Both were newly added to a list of places visited by patients in the community during their infectious period. The list can be accessed on the gov.sg website.
https://www.straitstimes.com/singapore/health/seven-new-virus-cases-including-one-in-community
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation
Global Economy & Global Real Estate
Post-US election, markets to take cue from earnings, pandemic recovery
https://www.businesstimes.com.sg/companies-markets/post-us-election-markets-to-take-cue-from-earnings-pandemic-recovery
Pre-election polls underestimated Trump yet again
https://www.straitstimes.com/world/pre-election-polls-underestimated-trump-yet-again
Scope for both to make up ground in undecided states
https://www.straitstimes.com/world/united-states/scope-for-both-to-make-up-ground-in-undecided-states
Cases that will play out as Trump turns to the courts
https://www.straitstimes.com/world/united-states/cases-that-will-play-out-as-trump-turns-to-the-courts
‘Blue wave’ hopes of Democrats crash in statehouses across US
https://www.straitstimes.com/world/united-states/blue-wave-hopes-of-democrats-crash-in-statehouses-across-us
Uncertain future for UK’s small businesses hit by new lockdown
https://www.straitstimes.com/world/europe/uncertain-future-for-uks-small-businesses-hit-by-new-lockdown
UK ramps up £200 billion rescue
https://www.businesstimes.com.sg/government-economy/uk-ramps-up-%C2%A3200-billion-rescue
Bank of England to probe possible leak of QE decision to Sun newspaper
https://www.businesstimes.com.sg/government-economy/bank-of-england-to-probe-possible-leak-of-qe-decision-to-sun-newspaper-0
Behind the scenes at Jack Ma’s US$35b IPO fiasco
https://www.businesstimes.com.sg/banking-finance/behind-the-scenes-at-jack-mas-us35b-ipo-fiasco
Seoul, with Covid under control, emerges as Asia’s real-estate leader
https://www.businesstimes.com.sg/real-estate/seoul-with-covid-under-control-emerges-as-asias-real-estate-leader-0
Japan household spending, wages slump as Covid-19 pain lingers
https://www.straitstimes.com/business/economy/japan-household-spending-wages-slump-as-covid-19-pain-lingers
https://www.businesstimes.com.sg/government-economy/japans-household-spending-wages-slump-as-covid-19-pain-lingers
Hong Kong homeowners fleeing Beijing’s grip look to sell their properties
https://www.businesstimes.com.sg/real-estate/hong-kong-homeowners-fleeing-beijings-grip-look-to-sell-their-properties
Indonesia poised for next phase of structural transformation
https://www.businesstimes.com.sg/government-economy/indonesia-poised-for-next-phase-of-structural-transformation
Indonesia sinks into first recession in over 20 years
https://www.businesstimes.com.sg/government-economy/indonesia-sinks-into-first-recession-in-over-20-years
https://www.straitstimes.com/business/economy/indonesia-hit-by-first-recession-in-over-two-decades-due-to-covid-19