The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8th November 2018

Singapore Economy 

Issues behind trade war are the real problem: Tharman
The biggest problem the world will face in 2019 is not simply the impact of the US-Sino trade war, but the failure to address the domestic issues that underpin them, said Deputy Prime Minister Tharman Shanmugaratnam on Wednesday at the Bloomberg New Economy Forum.


Singapore Real Estate

Merchants Building up for collective sale with S$23.5 million reserve price
A seven-storey freehold commercial building – Merchants Building at 76 South Bridge Road – has been put up for collective sale by tender with a reserve price of S$23.5 million. Merchants Building has a land area of 104.5 square metres. Under the Urban Redevelopment Authority’s Master Plan 2014, it is zoned “commercial” with a gross plot ratio of 4.2.

Colliers expects 14% full-year rise in CBD Grade A office rents
Colliers International’s data shows average CBD Premium and Grade A rental value rose 4.3 per cent to S$9.20 per square foot per month in the third quarter of 2018 over the previous quarter. The rental figure for Q3 2018 reflects an increase of 12.1 per cent from Q4 last year.


Companies’ Brief

CapitaLand sells 2b yuan of new China homes
CapitaLand on Wednesday said that it has held four successful residential launches in the past month which coincided with “Golden September Silver October” – China’s traditional high season for new home sales. In total, these four launches sold 1,506 units with a total value of about two billion yuan (S$396.7 million) – marking CapitaLand’s highest home sales value in China over a 30-day period this year.

Perennial’s Q3 net profit nearly triples on net fair value gain
Third quarter net profit at Perennial Real Estate Holdings (Perennial) nearly tripled to S$48.3 million, boosted by a net fair value gain. For the three months ended Sept 30, revenue for the real estate and healthcare player expanded 8.7 per cent to S$22.2 million from the previous year.

OUE Hospitality Trust Q3 DPS falls 5.9%
OUE Hospitality Trust’s (OUE H-Trust) distribution per stapled security (DPS) for the third quarter ended Sept 30 fell to 1.28 Singapore cents, down 5.9 per cent from 1.36 cents in Q3 FY17. This is because OUE H-Trust no longer receives income support for Crowne Plaza Changi Airport (CPCA) from OUE Airport Hotel, having fully drawn down the entire income support of S$7.5 million, it said.

Yoma Strategic Q2 profit up more than 7 times to S$26.2m on property business growth
Led by growth in its real estate business, net profit for Yoma Strategic Group’s second quarter grew by more than seven times to S$26.2 million from S$3.7 million the preceding year, the group said in a Singapore Exchange filing on Thursday morning.

Aspial net profit soars to S$18.7m; declares 0.25 cent a share dividend
Property developer and jeweller Aspial Corp has made a net profit of S$18.7 million in the third quarter, up from S$70,000 in the same period a year earlier, boosted by revenue from development projects in Singapore and Melbourne.

Ley Choon issues profit warning for Q2
Ley Choon Group said on Wednesday night that it expects to report a net loss for its fiscal second quarter ended Sept 30. The loss is due mainly to the decrease in revenue owing to the completion of certain projects as well as fewer ongoing projects. The financial results will be released on or about Nov 14.

EC World Reit Q3 DPU up 9%
EC World Reit has posted a distribution per unit (DPU) of 1.57 Singapore cents in the third quarter, up 9 per cent from the same period a year earlier. Gross revenue in the three months ended Sept 30 rose 0.1 per cent to S$23.9 million. Net property income rose 0.5 per cent to S$22.2 million, due mainly to contributions from the newly-acquired Wuhan Meiluote and partially offset by a weaker yuan.


View, Reviews, Forum & Others 

Fewer workplace deaths, but more injuries last quarter: MOM
There were fewer workplace deaths from July to September this year compared to the previous quarter, although more workers sustained injuries. A total of 10 workers died in the last quarter, down from 14 in April to June this year. To date, 34 workers have died on the job in 2018.

Punggol to get link road early, thanks to tech
From Nov 25, well ahead of schedule, Punggol residents will have a new road connection linking Punggol Central to both the Kallang-Paya Lebar Expressway (KPE) and the Tampines Expressway (TPE).

Compulsory e-filing starts this year for companies with revenue over S$10m: IRAS reminder
Compulsory e-filing of corporate income tax returns starts this year for companies with revenue of more than S$10 million in year of assessment (YA) 2017, the Inland Revenue Authority of Singapore (IRAS) reminded in a media statement on Wednesday.

Singapore’s MediShield Life to cover three new areas
Singapore’s national health insurance scheme will be extended to cover more health needs, the Ministry of Health (MOH) announced on Wednesday. People who suffer from chronic intestinal failure and require intravenous nutrition will be able to claim up to S$1,700 a month from MediShield Life and can also take an additional S$200 from their Medisave accounts.

Fintech gives fillip to jobs and funding in Singapore financial sector
Singapore’s move to develop the fintech sector came at a critical juncture, a time of weakness in traditional job creation in the financial industry, and just as the Monetary Authority of Singapore (MAS) was intent on spurring enterprise financing for growth companies, MAS’ managing director Ravi Menon has said.

MassMutual’s venture capital arm sets up US$50m fund in Singapore
MassMutual Ventures (MMV), the venture capital arm of the Massachusetts Mutual Life Insurance Company (MassMutual), has established a US$50 million Singapore-based fund for investments in South-east Asia.

Eli Lilly unit opens research facility, inks MOU to work on trials
Lilly Centre for Clinical Pharmacology (LCCP), a subsidiary of US-based Eli Lilly and Company, has opened a 40,600 square foot, S$30 million research facility in Biopolis. LCCP conducts clinical trials in healthy participants and patients, with a primary focus on first human dose studies and the development of new medicines for diabetes.

Super apps, Asia’s new innovation, to change cities, economies
The ability to communicate, shop online, order rides, read books, play games, get food delivery and pay for anything within a single, unified smartphone app is Asia’s defining innovation, technology leaders said at Bloomberg’s New Economy Forum in Singapore.

How countries manage their debt load matters
Markets face severe disruption. Countries swapping their foreign currency debt back into their own currency or their domestic debt are as much at risk from credit derivatives as investment banks were 10 years ago.

Commentary: Getting ahead of the next Asian financial crisis requires stronger institutions
The 10th anniversary of the global financial crisis has provided the occasion for serious reflection about the prevention and resolution of financial and economic crises, and whether the key lessons from the crisis have been addressed.

Still a way to go in the use of HR tech
Singapore is often lauded as one of the most technologically advanced countries in the world. Yet, in terms of human resource (HR) management, many companies here tend to resist or overlook the implementation of relevant HR tech.

Commentary: Ready or not, Globalisation 4.0 is upon us
After World War II, the international community came together to build a shared future. Now, it must do so again. Owing to the slow and uneven recovery in the decade since the Global Financial Crisis, a substantial part of society has become disaffected and embittered, not only with politics and politicians, but also with globalisation and the entire economic system it underpins.

A warning from Seattle to Amazon’s HQ2
The prune capital of America. That was the future Silicon Valley’s greatest claim to fame in the 1920s, when it was a sleepy landscape of fruit orchards and farms far removed from the nation’s industrial might.

Getting staff to speak up boosts productivity: Study
The more comfortable employees feel about speaking up at their workplaces, the more productive they are likely to be. So companies can help by fostering strong interpersonal relationships and open communication, according to a survey out yesterday. It noted that such a sense of psychological safety among employees is crucial for firms to handle disruptions better and to stay competitive in a rapidly evolving digital economy.


Global Economy & Global Real Estate

New Zealand extends benchmark interest rate freeze to two years

Trade rows, ageing workers shade German economy: ‘wise men’

Soaring US deficit a negative for equities: BlackRock chief

US Fed Reserve chair Janet Yellen leads chorus of concern over risks facing global economy

Indian government set to turn up heat on central bank governor

Japan to consider easing M&A rules as regional banks struggle

China’s IPO drought is due to regulator having too few staff to vet listing aspirants

With fewer workers, Japan is rethinking its legendary hospitality

Amazon’s potential NY home bolstered by Trump’s tax breaks

Qatar agrees to buy London’s Grosvenor House hotel

New World’s Cheng on Hong Kong’s Urbanization

Amazon’s Top Office Picks Offer Blank Slates for Urban Revivals


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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