DAILY NEWS

Daily News – 07th August 2019

Singapore Real Estate

Updated CPF, loan rules give HDB resale market ‘new lease of life’: OrangeTee
Demand for older HDB flats in Singapore spiked in the second quarter this year, following policy updates that may have given a “new lease of life” to the overall HDB resale market, OrangeTee & Tie said on Tuesday in its latest report on HDB trends. Some 564 HDB flats that were 40 years old and above were sold in May-June this year, a 40 per cent surge from 403 units in the year-ago period, while resale transactions…
https://www.businesstimes.com.sg/real-estate/updated-cpf-loan-rules-give-hdb-resale-market-new-lease-of-life-orangetee
https://www.straitstimes.com/singapore/housing/older-flats-in-demand-after-cpf-rule-change-says-realtor

Singapore Economy

Trade spat means Asian export economies are in for a rough ride, Fitch Solutions warns
Asian export-reliant economies such as Singapore, Taiwan, South Korea, Vietnam and Malaysia will be hardest hit by waning demand for Chinese-made products and supply chain disruptions amid escalating US-China trade tensions, Fitch Solutions Macro Research said on Tuesday. This is because many of these exporters are deeply integrated with China’s supply chains, supplying electronics, parts and machinery…
https://www.businesstimes.com.sg/government-economy/trade-spat-means-asian-export-economies-are-in-for-a-rough-ride-fitch-solutions
https://www.straitstimes.com/business/economy/singapore-malaysia-among-exporters-most-at-risk-in-us-china-trade-war-fitch

Companies’ Brief

CapitaLand Q2 profit falls 4.2% on one-off costs from Ascendas-Singbridge acquisition
Real estate heavyweight CapitaLand on Wednesday morning posted a 4.2 per cent drop in net profit to S$579.8 million for its second quarter, from S$605.5 million a year ago. This was mainly attributed to one-off transactions costs incurred on the acquisition of Ascendas-Singbridge, which was completed on June 28.
https://www.businesstimes.com.sg/companies-markets/capitaland-q2-profit-falls-42-on-one-off-costs-from-ascendas-singbridge
https://www.straitstimes.com/business/companies-markets/capitaland-q2-profit-falls-42-on-one-off-costs-from-ascendas-singbridge

Ho Bee Land Q2 earnings slump 80% to S$14.4m
Property company Ho Bee Land’s second-quarter earnings plunged 79.9 per cent to S$14.4 million, owing to its share of losses from associates and jointly controlled entities – amounting to S$6.7 million, reversing from profits of S$28.3 million in the previous corresponding period – and an absence of fair value gain that had boosted profits in the same period last year. This came about as its Shanghai and Zhuhai associates…
https://www.businesstimes.com.sg/companies-markets/ho-bee-land-q2-earnings-slump-80-to-s144m

OUE H-Trust Q2 DPS falls 9.4% on softer revenue, higher interest expense
OUE Hospitality Trust’s (OUE H-Trust) distribution per stapled security (DPS) fell 9.4 per cent to 1.06 Singapore cents for the second quarter ended June 30, weighed down by lower revenue as well as higher interest expense. Gross revenue fell 4.4 per cent to S$29.38 million as both the hospitality and retail segments recorded weaker revenue, while net property income (NPI) was 4.5 per cent lower at S$25
https://www.businesstimes.com.sg/companies-markets/oue-h-trust-q2-dps-falls-94-on-softer-revenue-higher-interest-expense

EC World Reit posts lower Q2 DPU amid ‘uncertain macro environment’
EC World Reit on Tuesday posted lower second-quarter distribution per unit (DPU) of 1.547 Singapore cents from 1.57 cents, as gross revenue fell amid “an uncertain macro environment”, according to the Chinese e-commerce logistics-focused Reit. Books will close Sept 3 and distribution is payable on Sept 26.
https://www.businesstimes.com.sg/companies-markets/ec-world-reit-posts-lower-q2-dpu-amid-uncertain-macro-environment

Travelodge Hotels Asia to manage Bay Hotel Singapore: Datapulse
Travelodge Hotels Asia (TLA) has been appointed to manage Bay Hotel Singapore, Mainboard-listed disc producer Datapulse Technology announced on Tuesday. Datapulse has a minority stake in Bay Hotel Singapore. The announcement comes after TLA was named last month to manage a hotel in Seoul in which Datapulse also has a minority stake – the Holiday Inn Express Euljiro.
https://www.businesstimes.com.sg/companies-markets/travelodge-hotels-asia-to-manage-bay-hotel-singapore-datapulse?

Views, Reviews, Forum & Others

Plan to transform Kallang into vibrant precinct by 2025
The area around Kallang is set to be further enhanced as a destination for sport and world-class entertainment after Sport Singapore (SportSG) yesterday announced plans to develop the precinct by 2025. In a bid to inject vibrancy into the area, six developments will be built to complement the $1.33 billion Singapore Sports Hub, which includes the 55,000-seater National Stadium, OCBC Aquatic Centre and…
https://www.straitstimes.com/sport/plan-to-transform-kallang-into-vibrant-precinct-by-2025

Consider building retirement villages on S’pore’s islands
Singapore has 63 islands – a piece of trivia not known to most. While they come in different shapes and sizes, the Government and developers could consider building world-class retirement villages on those that are viable.
https://www.straitstimes.com/forum/letters-in-print/consider-building-retirement-villages-on-spores-islands