Singapore Real Estate / Built Environment
Co-working spaces in Singapore still in demand despite WeWork pull-outs
Singapore: Ethan Lum works in sales, travels a lot and is one of just three Singapore-based employees of an American firm. It makes it hard to “justify” the company renting an office, so he instead uses WeWork about six to eight days every month.
https://www.channelnewsasia.com/singapore/coworking-space-wework-closing-bankrupt-justco-hive-demand-4772346
Ong Beng Seng-linked Hotel Properties’ potential project is the best bet to rejuvenate Orchard Road
Orchard Road is decked out in Christmas lights and festive ornaments. There are Christmas villages featuring rides, games and a 14-m tall Christmas tree as well as snowfall shows. Drawing the crowds to soak in the year-end festivities will hopefully lead to rich takings for retailers in Singapore’s prime shopping belt.
https://www.businesstimes.com.sg/opinion-features/ong-beng-seng-linked-hotel-properties-potential-project-best-bet-rejuvenate-orchard-road
Singapore News
Singapore’s resident employment rebounds in Q3, with year-end festivities set to boost labour demand
Resident employment in Singapore rose by 4,000 in the third quarter of 2024, reversing from a seasonal decline in Q2, driven by strong hiring in outward-oriented sectors such as information and communications, professional services and financial services.
https://www.businesstimes.com.sg/singapore/singapores-resident-employment-rebounds-q3-year-end-festivities-set-boost-labour-demand
https://www.straitstimes.com/business/resident-employment-grew-by-4000-in-q3-job-vacancies-fell-but-year-end-may-see-more-demand-mom
https://www.channelnewsasia.com/singapore/mom-labour-market-third-quarter-singapore-resident-employment-jobs-growth-4795171
Singapore’s financials and real estate employers take cautious stance on hiring: survey
Employers, especially those in the financials and real estate sector, are choosing to stay cautiously optimistic as Singapore’s economy gains momentum. Hiring sentiment in Singapore remains relatively stable, with employers reporting a strong outlook for staffing levels in the first quarter of 2025, according to the latest ManpowerGroup Employment Outlook Survey which covered 42 countries.
https://www.businesstimes.com.sg/singapore/singapores-financials-and-real-estate-employers-take-cautious-stance-hiring-survey
https://www.straitstimes.com/business/economy/spore-employment-outlook-for-q1-positive-but-slightly-weaker-than-a-year-ago-survey
Retirement and re-employment ages for NTUC employees to be raised in 2025 ahead of national schedule
Singapore: The retirement and re-employment ages for all National Trades Union Congress (NTUC) employees will be raised from Jan 1, 2025, 1.5 years ahead of the national schedule.
https://www.channelnewsasia.com/singapore/ntuc-retirement-reemployment-ages-raised-2025-older-workers-employees-4795141
https://www.businesstimes.com.sg/companies-markets/ntuc-raise-staff-retirement-and-re-employment-ages-january-2025
https://www.straitstimes.com/business/ntuc-raises-retirement-age-to-64-and-re-employment-age-to-69-for-staff-ahead-of-time
https://www.zaobao.com.sg/realtime/singapore/story20241209-5546576
S’pore semiconductor sector could be hurt by widening US curbs but is expected to hold out
Singapore – New US export restrictions on semiconductors are unlikely to mar Singapore’s standing as a resilient manufacturing hub, but firms here could still take a hit from brewing trade tensions and technology competition.
https://www.straitstimes.com/business/singapores-semiconductor-industry-will-not-be-unscathed-but-survive-widening-us-curbs
Business News
DBS Group announces two new senior management appointments, both from within the group
Following the appointment of Susan Chan as DBS Group President and her formal appointment on March 28 next year, DBS has announced two more senior management appointments, which will take effect on January 1 next year.
https://www.zaobao.com.sg/realtime/singapore/story20241209-5551981
https://www.businesstimes.com.sg/companies-markets/han-kwee-juan-replace-tan-su-shan-dbs-head-institutional-banking
GIC picks JPMorgan to advise on $6.7 billion Greenko stake sale
GIC is working with JPMorgan Chase & Co. to help advise on a strategic review of options including a sale of its 50 per cent stake in India’s Greenko Energy Holdings, people familiar with the matter said, in what could be one of the biggest disposals in the country.
https://www.straitstimes.com/business/companies-markets/gic-picks-jpmorgan-to-advise-on-6-7-billion-greenko-stake-sale
https://www.zaobao.com.sg/realtime/singapore/story20241209-5552283
Views, Reviews, Forum and Others
Regular train service between Tanah Merah and Tampines MRT stations to resume on Tuesday
Singapore: Regular train service between Tanah Merah and Tampines MRT stations along the East-West Line (EWL) will resume on Tuesday (Dec 10), a day ahead of schedule after the completion of track works.
https://www.channelnewsasia.com/singapore/mrt-train-service-tanah-merah-tampines-station-resume-dec-10-4795906
https://www.straitstimes.com/singapore/train-services-on-six-stations-on-ewl-to-resume-on-dec-10
https://www.zaobao.com.sg/realtime/singapore/story20241209-5552239
Identity thieves block couple’s bank accounts, cancel credit cards, leaving them strapped for cash in Japan
Singaporean Melvin Chan’s recent holiday to Japan with his wife turned into a nightmare after he found their bank accounts blocked and credit cards cancelled by identity thieves who rang up the banks and pretended to be them.
https://www.straitstimes.com/singapore/identity-thieves-cancel-spore-mans-credit-cards-leaving-him-and-wife-strapped-for-cash-in-japan
Global Economy & Real Estate
Top Abu Dhabi developer sees commercial property boom extending
https://www.businesstimes.com.sg/property/top-abu-dhabi-developer-sees-commercial-property-boom-extending
The View | Asia’s property markets are shrugging off political risks
https://www.scmp.com/opinion/asia-opinion/article/3289939/asias-property-markets-are-shrugging-political-risks
China eases monetary policy stance, vows more fiscal spending
https://www.businesstimes.com.sg/international/china-eases-monetary-policy-stance-vows-more-fiscal-spending
https://www.straitstimes.com/business/economy/china-announces-first-monetary-policy-shift-since-2010-to-spur-growth
https://www.channelnewsasia.com/east-asia/china-first-monetary-policy-shift-2010-growth-4795641
China signals bolder stimulus for next year as Trump returns
https://www.businesstimes.com.sg/international/china-signals-bolder-stimulus-next-year-trump-returns
China’s Nov exports likely grew 8.5% as factories shift stocks overseas: Reuters poll
https://www.channelnewsasia.com/business/chinas-nov-exports-likely-grew-85-factories-shift-stocks-overseas-reuters-poll-4795186
China’s consumer inflation slows in November to five-month low
https://www.businesstimes.com.sg/international/global/chinas-consumer-inflation-slows-november-five-month-low
https://www.channelnewsasia.com/east-asia/china-consumer-prices-rise-slower-rate-november-4795101
https://www.scmp.com/economy/economic-indicators/article/3289917/chinas-consumer-inflation-falls-short-november-factory-price-drag-continues
ECB to cut rates again amid bleak eurozone outlook
https://www.businesstimes.com.sg/international/ecb-cut-rates-again-amid-bleak-eurozone-outlook
Boutique bank Raine to shut Hong Kong base, offers staff Singapore move
https://www.businesstimes.com.sg/companies-markets/banking-finance/boutique-bank-raine-shut-hong-kong-base-offers-staff-singapore-move
https://www.straitstimes.com/business/banking/boutique-bank-raine-to-shut-hk-base-offers-staff-singapore-move
Chow Yun-fat, hard as nails in movies, cuts home price by 14% as he succumbs to market dip
https://www.scmp.com/business/article/3290011/chow-yun-fat-slashes-price-luxury-hong-kong-property-14-market-slumps
Japan’s bankruptcies set to hit 11-year high in 2024, data shows
https://www.businesstimes.com.sg/international/japans-bankruptcies-set-hit-11-year-high-2024-data-shows
https://www.channelnewsasia.com/business/japans-bankruptcies-set-hit-11-year-high-2024-data-shows-4795261
Paul Newman and Joanne Woodward’s New York penthouse listed for US$9.95 million
https://www.businesstimes.com.sg/property/paul-newman-and-joanne-woodwards-new-york-penthouse-listed-us9-95-million
South Korea’s tourism, retail sectors take hits from political turmoil
https://www.straitstimes.com/business/south-koreas-tourism-retail-sectors-already-feeling-pinch-from-political-turmoil
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