The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News – 9th May 2017

Top Story

Proportion of private homes grows to 27%
The number and proportion of private properties in Singapore grew in the decade between 2006 and last year, Parliament was told on Monday.  The total number of private condominium units and landed homes went up from 243,000 to 372,000 in that time, taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.  Meanwhile, the number of Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 during the period. But despite this increase, the proportion of HDB flats out of the total housing stock went down from 78 per cent to 73 per cent. 
http://www.businesstimes.com.sg/real-estate/proportion-of-private-homes-grows-to-27
http://www.straitstimes.com/singapore/housing/proportion-of-hdb-flats-in-housing-stock-dips

 

Singapore Economy

MAS a strong supporter of fintech: Ong Ye Kung
The Monetary Authority of Singapore (MAS) does not have to choose between financial institutions (FIs) and new players in the financial technology (fintech) industry, a board member of the central bank said on Monday.  Ong Ye Kung, who is Education Minister (Higher Education and Skills) and Second Defence Minister, said: “We take an even-handed approach, encouraging established and new players to compete, collaborate and innovate.”
http://www.businesstimes.com.sg/banking-finance/mas-a-strong-supporter-of-fintech-ong-ye-kung

BT seminar to highlight CFE strategies for SMEs, innovation
The push for business transformation continues with a seminar organised by The Business Times on May 18, where Senior Minister of State for Trade and Industry Sim Ann will deliver the keynote address. Put together especially for SMEs, the seminar will also see academic and industry leaders speak about innovation and transformation.
http://www.businesstimes.com.sg/companies-markets/bt-seminar-to-highlight-cfe-strategies-for-smes-innovation

Singapore tech startups shift gear to tap region’s exploding e-commerce
Singapore tech startups are pursuing regional expansion more aggressively than ever.  On Monday, three companies unveiled major plans to deepen their presence across South-east Asia – three months after Grab announced its US$700-million investment in Indonesia to support the country’s goal of becoming the region’s largest digital economy by 2020.
http://www.businesstimes.com.sg/technology/singapore-tech-startups-shift-gear-to-tap-regions-exploding-e-commerce

Higher water, car park charges to have ‘small’ impact on inflation: Koh Poh Koon
The government’s moves to raise the water tariff and car park charges will contribute to a “temporary increase” in inflation this year, said Senior Minister of State for Trade and Industry Koh Poh Koon on Monday.  He stressed that the impact of such administrative price adjustments was expected to be “small”, contributing about 0.2 percentage point to inflation this year.
http://www.businesstimes.com.sg/government-economy/higher-water-car-park-charges-to-have-small-impact-on-inflation-koh-poh-koon

 

Singapore Real Estate

Singapore real estate investment deals jump 67.4% in Q1 from a year ago: JLL
Some S$4.99 billion worth of real estate investment deals were closed in the first three months of this year, a 67.4 per cent surge from the year-ago period.  This was, however, 40.9 per cent lower compared to the fourth quarter of last year, JLL estimates.  The private sector accounted for 90 per cent of the total sales value in the first quarter.  JLL Singapore head of research and consultancy Tay Huey Ying said: “The engine of growth for Singapore’s private investment sales market in Q1 2017 was the office sector which took the lion’s share at 47.5 per cent.”
http://www.businesstimes.com.sg/real-estate/singapore-real-estate-investment-deals-jump-674-in-q1-from-a-year-ago-jll
http://www.straitstimes.com/business/property/office-deals-drive-singapore-real-estate-investment-sales-up-674-year-on-year-in
http://www.straitstimes.com/business/bright-outlook-for-property-investment-sales-this-year

 

Companies’ Brief

Divestment gains bolster Q1 bottom line of Perennial Real Estate Holdings
Perennial Real Estate Holdings posted a more than four-fold jump in first-quarter net profit to S$38.7 million from a year ago, bolstered by divestment gains from the sale of a 20.2 per cent stake in TripleOne Somerset and the remeasurement gain from the retained 30 per cent stake in the same property.
http://www.businesstimes.com.sg/companies-markets/divestment-gains-bolster-q1-bottom-line-of-perennial-real-estate-holdings
http://www.businesstimes.com.sg/companies-markets/perennial-real-estate-q1-net-profit-more-than-quadruples-to-s39m
http://www.straitstimes.com/business/property/sharp-rise-in-perennial-real-estate-q1-profit

Global Premium Hotels Q1 earnings down 4.9%
The continuing decline in hotel room rates put pressure on Global Premium Hotels’ (GPH) first quarter results.  Net profit for the three months ended March 31 fell 4.9 per cent to S$3.19 million from the preceding year’s S$3.36 million, the group said in a Singapore Exchange filing on Monday.
http://www.businesstimes.com.sg/companies-markets/global-premium-hotels-q1-earnings-down-49

Top Global swings into the back in Q1
Boutique property developer Top Global swung into the black in the first quarter ended March 31 with a net profit of S$326,000, from a net loss of S$857,000 a year ago.  Lower cost of sales for development properties offset a 21 per cent drop in revenue to S$25.46 million.  The group is helmed by executive chairman Sukmawati Widjaja, who is also vice-chairman of the family-run Indonesian conglomerate Sinar Mas Group that was founded by her father Eka Tjipta Widjaja.
http://www.businesstimes.com.sg/companies-markets/top-global-swings-into-the-back-in-q1

Oxley prices US$100m four-year notes with 6.375% interest
Oxley Holdings said its wholly owned unit, Oxley MTN Pte Ltd, had on Monday priced its US$100 million notes that mature in four years’ time.  These notes, which bear an interest rate of 6.375 per cent and due in 2021 (Tranche 2), form a single series with the US$200 million notes issued on April 21 under its US$1 billion guaranteed Euro medium-term note programme. They are irrevocably guaranteed by the group.
http://www.businesstimes.com.sg/companies-markets/oxley-prices-us100m-four-year-notes-with-6375-interest

Debao Property’s Q1 profit triples to 108.3m yuan
Chinese developer Debao Property Development reported a tripling of its net profit for the first quarter ended March 31 to 108.3 million yuan (S$22 million) from 34.5 million yuan a year ago, on the back of higher revenue and higher other income.  Revenue for the three-month period grew 44 per cent to 24.2 million yuan as the developer sold more gross floor area (GFA) and achieved higher average selling prices.
http://www.businesstimes.com.sg/companies-markets/debao-propertys-q1-profit-triples-to-1083m-yuan

 

Global Economy & Global Real Estate

Fed’s Mester sees US economy warranting gradual rate increases
http://www.businesstimes.com.sg/government-economy/feds-mester-sees-us-economy-warranting-gradual-rate-increases

Moving a beloved home in India more than 2,000 km to save it
http://www.businesstimes.com.sg/real-estate/moving-a-beloved-home-in-india-more-than-2000-km-to-save-it

UK house prices post first quarterly decline since 2012
http://www.businesstimes.com.sg/real-estate/uk-house-prices-post-first-quarterly-decline-since-2012
http://www.straitstimes.com/business/property/uk-house-prices-post-first-quarterly-decline-since-2012
https://www.bloomberg.com/news/articles/2017-05-08/london-home-rents-fall-for-first-time-since-december-2009

Beijing in major drive to clean up hutongs
http://www.businesstimes.com.sg/real-estate/beijing-in-major-drive-to-clean-up-hutongs

Chinese developers seek funding alternatives
http://www.businesstimes.com.sg/real-estate/chinese-developers-seek-funding-alternatives

Chinese developers look for alternative fundraising strategies
http://www.businesstimes.com.sg/real-estate/chinese-developers-look-for-alternative-fundraising-strategies

China’s Wanda in talks to develop Bandar Malaysia project
http://www.straitstimes.com/asia/se-asia/chinas-wanda-in-talks-to-develop-bandar-malaysia-project?login=true

China woes resulting in capital flight to US
http://www.straitstimes.com/business/china-woes-resulting-in-capital-flight-to-us

China April exports, imports rise less than expected
http://www.straitstimes.com/business/china-april-exports-imports-rise-less-than-expected

Canada’s housing starts fall in April after surge in March
http://www.businesstimes.com.sg/real-estate/canadas-housing-starts-fall-in-april-after-surge-in-march

Vancouver plans more Airbnb limits to ease near-zero home supply
http://www.businesstimes.com.sg/real-estate/vancouver-plans-more-airbnb-limits-to-ease-near-zero-home-supply

Retail wars add to Australia’s worries over weak inflation, soft demand
http://www.businesstimes.com.sg/consumer/retail-wars-add-to-australias-worries-over-weak-inflation-soft-demand

Marriott profit beats on higher occupancy
http://www.businesstimes.com.sg/real-estate/marriott-profit-beats-on-higher-occupancy

$1.3 Trillion Housing Boom Set to Be India’s Next Growth Driver
https://www.bloomberg.com/news/articles/2017-05-08/-1-3-trillion-housing-boom-set-to-be-india-s-next-growth-driver

Japan’s Priests Turn to Property Development
https://www.bloomberg.com/news/articles/2017-05-04/japan-s-priests-turn-to-property-development

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article
http://business.asiaone.com/property/news
http://www.btinvest.com.sg/property
http://www.propertyguru.com.sg/market-news
http://www.srx.com.sg/singapore-property-news
http://www.stproperty.sg/articles-property/singapore-property-news/c/11
http://www.theedgeproperty.com.sg/property-new

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