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 11, 12 & 13 January 2025 (Sat, Sun & Mon)

Singapore Real Estate / Built Environment

 

LTA seeks solutions to improve road maintenance regime and road construction methods

Singapore – To upgrade the way it manages the 9,500 lane-kilometres of road under its charge, the Land Transport Authority (LTA) is calling for ideas to measure and predict road maintenance needs. Separately, it is also calling for proposals to improve the way roads are designed and constructed.

https://www.straitstimes.com/singapore/transport/lta-seeks-solutions-to-improve-road-maintenance-regime-and-road-construction-methods

 

Larger S-Reits rank among those with highest net retail inflows in 2024

Retail investors have been net buyers of Singapore real estate investment trusts (S-Reits) in 2024 amid volatile performance for the sector during the year.

https://www.businesstimes.com.sg/companies-markets/larger-s-reits-rank-among-those-highest-net-retail-inflows-2024

 

‘One big family’: Residents move into first assisted-living flats in Bukit Batok

Singapore – In November 2024, 88-year-old Lam Shaw Ying moved into his new assisted living flat in Bukit Batok and started playing carrom again, a traditional board game he last played when he was a boy.

https://www.straitstimes.com/singapore/housing/one-big-family-residents-move-into-first-assisted-living-flats-in-bukit-batok

 

 

Singapore News

 

S’pore must manage new arrivals with utmost caution, but also stand firm against nativism: SM Lee

Singapore – Singapore relies heavily on immigrants and foreign workers – who raise political sensitivities in many societies – to top up its population base and talent pool, said Senior Minister Lee Hsien Loong.

https://www.straitstimes.com/singapore/spore-will-manage-new-arrivals-with-utmost-caution-but-must-stand-firm-against-nativism-sm-lee

https://www.channelnewsasia.com/singapore/singapore-should-help-immigrants-foreign-workers-adapt-countrys-social-norms-sm-lee-4852046

 

EDB executive vice-president Tan Kong Hwee to be appointed CEO of Ipos

Tan Kong Hwee, executive vice-president of the Singapore Economic Development Board (EDB), will be appointed the chief executive of the Intellectual Property Office of Singapore (Ipos) from Mar 1.

https://www.businesstimes.com.sg/singapore/economy-policy/edb-executive-vice-president-tan-kong-hwee-be-appointed-ceo-ipos

https://www.straitstimes.com/singapore/tan-kong-hwee-to-take-over-as-ipos-chief-executive-from-march-1

https://www.zaobao.com.sg/realtime/singapore/story20250110-5716394

 

Outgoing Iras chief to take over as Auditor-General from February

Ng Wai Choong, Commissioner of Inland Revenue and chief executive of the Inland Revenue Authority of Singapore (Iras), will be appointed the new Auditor-General on Feb 8, a day after leaving his current roles.

https://www.businesstimes.com.sg/singapore/outgoing-iras-chief-take-over-auditor-general-february

https://www.straitstimes.com/singapore/outgoing-iras-chief-to-take-over-as-auditor-general-from-february

https://www.channelnewsasia.com/singapore/new-auditor-general-ng-wai-choong-goh-soon-poh-retire-ago-iras-4849916

https://www.zaobao.com.sg/realtime/singapore/story20250110-5716183

 

 

Business News

 

Frasers Property: optimistic about local property market as Singapore’s fundamentals remain strong

Listed property developer Frasers Property is optimistic about the resilience of Singapore’s residential market as the city-state’s fundamentals remain strong. Singapore-based Frasers Property made the comment in response to queries from the Securities Investors Association of Singapore (SIAS).

https://www.zaobao.com.sg/realtime/singapore/story20250111-5719837

 

Suntec Reit unitholders should reject revised S$1.19-a-unit offer: Morningstar

Investment research company Morningstar has recommended that unitholders of Suntec Real Estate Investment Trust (Reit) reject the revised S$1.19 apiece cash offer from property tycoon Gordon Tang and his wife Celine.

https://www.businesstimes.com.sg/companies-markets/suntec-reit-unitholders-should-reject-revised-s1-19-unit-offer-morningstar

 

Views, Reviews, Forum and Others

 

ICA suspends online change of address service after scammers alter dozens of victims’ addresses

Singapore – The home addresses of about 60 people were changed online without their knowledge, after scammers obtained their NRIC and Singpass details. Scammers had used compromised Singpass accounts to circumvent several security safeguards in the Immigration and Checkpoints Authority’s (ICA) change of address system.

https://www.straitstimes.com/singapore/ica-suspends-online-change-of-address-function-after-scammers-alter-dozens-of-victims-addresses

https://www.channelnewsasia.com/singapore/ica-temporarily-suspends-e-service-after-80-unauthorised-attempts-change-residential-address-4851621

https://www.zaobao.com.sg/realtime/singapore/story20250111-5719781

 

At least 82 cases of malware scams reported since December, with $625,000 in losses

Singapore – Scammers remain a menace, with at least 82 cases of malware scams reported since December 2024 and total losses amounting to about $625,000. The victims fell for an emerging variant of the malware scam by responding to fraudulent Facebook and TikTok advertisements for travel and cleaning services, said the police on Jan 10. Victims would leave their contact details to indicate their interest.

https://www.straitstimes.com/singapore/at-least-82-cases-of-malware-scams-reported-since-december-with-625000-in-losses

https://www.zaobao.com.sg/realtime/singapore/story20250111-5718462

 

Public urged to check live crowd map before visiting Chinatown bazaar just before CNY: Police

Singapore – People visiting Chinatown in the days leading up to Chinese New Year are encouraged to check a live crowd map before heading down, the police said on Jan 10. This is because large crowds are expected around the Chinatown Street Bazaar, held between Jan 8 and the eve of Chinese New Year on Jan 28.

https://www.straitstimes.com/singapore/public-urged-to-check-live-crowd-map-before-visiting-chinatown-bazaar-just-before-cny-police

https://www.channelnewsasia.com/singapore/chinatown-bazaar-chinese-new-year-check-crowd-online-police-4849431

 

 

Global Economy & Real Estate

 

Potential US tariffs to put pressure on currencies of export-oriented economies: analysts

https://www.businesstimes.com.sg/international/asean/potential-us-tariffs-put-pressure-currencies-export-oriented-economies-analysts

 

IMF chief sees steady world growth in 2025, continuing disinflation

https://www.businesstimes.com.sg/international/imf-chief-sees-steady-world-growth-2025-continuing-disinflation

https://www.channelnewsasia.com/business/imf-chief-sees-steady-world-growth-2025-continuing-disinflation-4851321

 

US inflation is set to back Fed pause after robust jobs data

https://www.businesstimes.com.sg/international/us-inflation-set-back-fed-pause-after-robust-jobs-data

 

Trump spared jail, fine or probation at hush money sentencing days before inauguration

https://www.businesstimes.com.sg/international/trump-spared-jail-fine-or-probation-hush-money-sentencing-days-inauguration

https://www.channelnewsasia.com/world/trump-spared-jail-hush-money-sentencing-days-inauguration-4850336

 

US job growth beats expectations in December; jobless rate falls to 4.1%

https://www.businesstimes.com.sg/international/us-job-growth-beats-expectations-december-jobless-rate-falls-4-1

 

Canada has counter-tariffs ready if Trump launches trade war, Trudeau says

https://www.businesstimes.com.sg/international/canada-has-counter-tariffs-ready-if-trump-launches-trade-war-trudeau-says

 

Chinese developers begin new year with deepening debt woes

https://www.businesstimes.com.sg/property/chinese-developers-begin-new-year-deepening-debt-woes

 

China Evergrande’s key unit ordered to liquidate by Hong Kong court

https://www.businesstimes.com.sg/property/china-evergrandes-key-unit-ordered-liquidate-hong-kong-court

 

Mainland Chinese buyers to continue driving Hong Kong housing demand in 2025, analysts say

https://www.scmp.com/business/article/3294412/mainland-chinese-buyers-continue-driving-hong-kong-housing-demand-2025-analysts-say

 

Dubai’s world beating property rally shows signs of strain

https://www.businesstimes.com.sg/property/dubais-world-beating-property-rally-shows-signs-strain

 

IMF turns less upbeat on Hong Kong growth, with 2025 forecast cut

https://www.businesstimes.com.sg/international/imf-turns-less-upbeat-hong-kong-growth-2025-forecast-cut

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3294350/hong-kong-urged-make-smarter-spending-after-imf-backs-saving-efforts

 

Hong Kong’s leader calls on entrepreneurs to seize opportunities over border

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3294328/hong-kongs-leader-calls-entrepreneurs-seize-opportunities-over-border

 

Japan’s economy minister vows to coordinate policy with Bank of Japan

https://www.businesstimes.com.sg/international/japans-economy-minister-vows-coordinate-policy-bank-japan

 

Rosy wage outlook, weak yen drawing BOJ attention to inflation risks

https://www.channelnewsasia.com/business/rosy-wage-outlook-weak-yen-drawing-boj-attention-inflation-risks-4849991

 

Property a big winner: Potential Malaysia beneficiaries from Johor-Singapore SEZ

https://www.businesstimes.com.sg/companies-markets/property-big-winner-potential-malaysia-beneficiaries-johor-singapore-sez

 

Malaysia’s November industrial production up 3.6%, above forecast

https://www.businesstimes.com.sg/international/asean/malaysias-november-industrial-production-3-6-above-forecast

 

Malaysia focuses on attracting young Chinese tourists after missing 2024 target

https://www.channelnewsasia.com/asia/malaysia-attract-china-tourists-young-travellers-missed-target-4842426

 

Taiwan expects small impact from Trump tariffs on chip exports

https://www.channelnewsasia.com/business/taiwan-expects-small-impact-trump-tariffs-chip-exports-4849831

 

Disclaimer & Note:

Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.

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