DAILY NEWS

Daily News – 8th November 2017

SINGAPORE ECONOMY

Growth, profit hopes power Asia shares to new highs
Better days ahead are expected for regional equity markets, which are now on a roll, hitting fresh highs on the back of optimism in global growth and positive earnings conditions, as investors shrug off looming concerns. Analysts say all signs point to an extension in the regional rally, even if investors choose to take profits in the sessions ahead.
http://www.businesstimes.com.sg/companies-markets/growth-profit-hopes-power-asia-shares-to-new-highs

SMEs still facing ‘very big’ hurdles in export markets, says WTO director-general
In the digital world, the level playing field for big and small companies is supposed to be flat. In reality, small and medium enterprises are still handicapped as ever and face, according to Roberto Azevedo, director-general of the World Trade Organization, “still very big” hurdles in export markets.
http://www.businesstimes.com.sg/government-economy/smes-still-facing-very-big-hurdles-in-export-markets-says-wto-director-general

Delivery firm gets rapid boost, thanks to new mobile app
Network Courier is shaking off its image as a traditional courier service provider, with the launch of its new smartphone-based booking and dispatch platform, Rapido. Launched in September, it serves as a solution to the increasing demand for parcel delivery services in the face of accelerated growth in the e-commerce market. In other words, it caters to the need for professional last-mile fulfilment delivery services.
http://www.straitstimes.com/business/companies-markets/delivery-firm-gets-rapid-boost-thanks-to-new-mobile-app

Audio House takes cashless route
As cashless payments continue to pick up steam in Singapore, home-grown consumer electronics retailer Audio House is moving ahead of the curve by implementing a fully cashless payment system. From Saturday, its store in Bendemeer Road will operate without any cashier counters. Instead, customers will have to scan a QR code of the product they want to purchase, using their smartphones and any QR code scanner app, which will then take them to Audio House’s e-commerce platform to complete their payment.
http://www.straitstimes.com/tech/audio-house-takes-cashless-route

SINGAPORE REAL ESTATE

Tee Land paying S$72m for Casa Contendere
Tee Land is buying the freehold Casa Contendere at 35 Gilstead Road through a collective sale for S$72 million. The price works out to S$1,638 per square foot per plot ratio (psf ppr) inclusive of an estimated development charge (DC) of S$15.1 million payable to the state. The District 11 property has a land area of 37,972 sq ft.
http://www.businesstimes.com.sg/real-estate/tee-land-paying-s72m-for-casa-contendere
http://www.straitstimes.com/business/property/tee-land-buys-casa-contendere-for-72m

COMPANIES’ BRIEF

Improved rents, high occupancies lift BHG Retail Reit’s Q3
Improved rentals and a maintaining of its high occupancy rates boosted results for Chinese mall owner BHG Retail Reit in its third quarter. Distribution per unit (DPU) crept up to 1.41 Singapore cents from 1.29 Singapore cents in the previous year, the group said on Tuesday evening. That came as Q3 income available for distribution expanded 13.9 per cent to S$5.1 million from the previous year.
http://www.businesstimes.com.sg/companies-markets/improved-rents-high-occupancies-lift-bhg-retail-reits-q3

Perennial’s Q3 profit boosted by UEL stake
Integrated real estate and healthcare company Perennial Real Estate Holdings saw its third-quarter net profit substantially boosted as a result of an offer earlier this year for United Engineers (UEL). Perennial’s net profit attributable to shareholders climbed to S$16.9 million for the quarter ended Sept 30, 2017, from S$425,000 the year before. It said this was due mainly to the group’s effective share of results from associate company Yanlord Perennial Investment’s (YPI), which had launched an offer for UEL shares and closed the offer in September with a stake of 33.5 per cent in UEL.
http://www.businesstimes.com.sg/companies-markets/perennials-q3-profit-boosted-by-uel-stake
http://www.straitstimes.com/business/perennials-q3-profit-boosted-by-uel-stake

OKP Holdings’ Q3 profit plunges 62.4%
Infrastructure and civil engineering company OKP Holdings Ltd posted a 62.4 per cent drop in its third-quarter net profit to S$742,000, on the back of lower revenue, which was partially due to an accident in July at the worksite of its subsidiary Or Kim Peow Contractors. On Tuesday, OKP announced that earnings per share for the three months ended Sept 30, 2017 stood at 0.24 Singapore cent, down from 0.64 Singapore cent the year before.
http://www.businesstimes.com.sg/companies-markets/okp-holdings-q3-profit-plunges-624-0

CapitaLand posts 28% rise in Q3 profit on fair value, portfolio gains
Fair value and portfolio gains from its Singapore and China properties, together with a 60 per cent stake in CapitaLand Vietnam Commercial Fund I helped boost real estate giant CapitaLand’s earnings for the third financial quarter by 28 per cent. Net profit came in at S$316.95 million for the three months to Sept 30, 2017, from S$247.5 million a year ago.
http://www.businesstimes.com.sg/real-estate/capitaland-posts-28-rise-in-q3-profit-on-fair-value-portfolio-gains
http://www.straitstimes.com/business/companies-markets/capitaland-posts-28-rise-in-q3-profit-on-fair-value-portfolio-gains

SingHaiyi Group’s Q2 earnings surge 58.8%
Mainboard-listed SingHaiyi Group Ltd posted on Tuesday a 58.8 per cent surge in its second-quarter net profit to S$6.2 million, while first-half earnings more than tripled to S$24.4 million. For the three months ended Sept 30, 2017, earnings per share was 0.216 Singapore cent, up from 0.136 Singapore cent the year before.
http://www.businesstimes.com.sg/companies-markets/singhaiyi-groups-q2-earnings-surge-588

Behind the scenes: The making of a mini media empire
MM2 Asia is building a mini media empire in its own right, taking a leaf from the pages of Hollywood. Just as many major US media conglomerates have vertically integrated their operations from studio through cinema, the fast-expanding film and video production company last week also announced that it has signed an option deal to buy Cathay Cineplexes for S$230 million
http://www.businesstimes.com.sg/companies-markets/behind-the-scenes-the-making-of-a-mini-media-empire

EtonHouse plans Tanglin school with classes up to Pre-U
EtonHouse International Education Group, known for its pre-schools, is making footprints into private education at all levels. It is seeking approval to open another international school offering primary, secondary and pre-university classes in Tanglin Road. This will be the fifth school opened by the group to offer classes to children of expatriates beyond pre-school.
http://www.straitstimes.com/singapore/education/etonhouse-plans-tanglin-school-with-classes-up-to-pre-u?login=true

VIEWS, REVIEWS & FORUM

Collective sale fever: Spotlight on decaying home leases
Collective sales have a way of making property owners, other than those getting a windfall, envious. This is especially so in a boom like the current one for houses sold en bloc. These days, besides envy, owners of ageing apartments – whether private or public – may also feel a tinge of anxiety if the 99-year lease of the land their property sits on, or the 99-year tenure of the flat, is decaying fast, with no prospect of a buyout by either a private developer or the Government. The anxiety is due to a distinct possibility that instead of their property appreciating in value, it may start to depreciate as the lease runs out, and restrictions on Central Provident Fund usage, bank loans and Housing Board loans start to apply.
http://www.straitstimes.com/opinion/collective-sale-fever-spotlight-on-decaying-home-leases