Singapore News
MinLaw to propose laws targeting debt consultancy firms exploiting debt repayment scheme
Laws around a scheme to help individuals avoid insolvency may be tightened, with the authorities targeting firms that encourage individuals to borrow money and file for bankruptcy to get a discount off their debts.
https://www.zaobao.com.sg/realtime/singapore/story20250609-6636252
S’pore’s projected carbon tax revenue for 2024 lower than expected after fivefold hike in tax rate
he revenue collected from Singapore’s carbon tax in 2024 – the year the tax rate went up to five times from before – is projected to be about $642 million, The Straits Times has learnt. This is up from the roughly $200 million in yearly revenue collected when the tax rate was $5 per tonne of emissions from 2019 to 2023.
Business News
CDL’s high debt and interest costs continue to weigh on stock despite South Beach sale
News of City Developments Ltd’s (CDL) sale of its 50.1 per cent majority stake in the South Beach mixed project put some bounce in the property developer’s share price last week, but analysts were less sanguine, citing the company’s high debt and interest costs.
https://www.zaobao.com.sg/finance/singapore/story20250609-6637587
Is Ho Bee Land privatisation back on cards with founder Chua Thian Poh raising stake?
Shares of Ho Bee Land, usually thinly traded, were up on Monday (Jun 9) after the company said founder and executive chairman Chua Thian Poh had upped his stake in the real estate company over the weekend.
Keppel DC Reit to join STI from June 23; units rise 0.9%
Following the Straits Times Index’s (STI) June quarterly review, Keppel DC Real Estate Investment Trust (Reit) will be entering the index, replacing Jardine Cycle & Carriage, effective from June 23.
Global Economy / Real Estate News
China exports to US fall most since 2020 despite trade truce
https://www.businesstimes.com.sg/international/china-exports-us-fall-most-2020-despite-trade-truce
https://www.channelnewsasia.com/east-asia/china-exports-slow-trade-war-takes-toll-5170991
China’s factory-gate deflation worst in 22 months as economic headwinds mount
China taps US$1.5 trillion fund to boost housing market support
German consumers’ pessimism rises amid economic, political concerns: survey
Hong Kong sees 10% uptick in mainland Chinese tourists as concerts, sports tournaments shine bright
Leeway urged for public housing applicants in Hong Kong to combat ‘lying flat’
Barclays cuts more than 200 investment bank jobs to reduce costs
Banks want staff back at the office. There aren’t enough desks
https://www.businesstimes.com.sg/property/banks-want-staff-back-office-there-arent-enough-desks
Malaysia to expand services tax from July 1 to trim deficit
Crown close to A$80 million sale of Sydney penthouse: report
https://www.businesstimes.com.sg/property/crown-close-80-million-sale-sydney-penthouse-report
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