Business News
CapitaLand Investment pushes ahead with disclosures from suppliers, more green leases
Singapore – Mainboard-listed CapitaLand Investment (CLI) is pushing ahead in its decarbonisation by adding key disclosures from suppliers and ramping up green leases with tenants, even though its efforts to cut carbon emissions did not go as smoothly in 2023 as previously.
https://www.straitstimes.com/business/capitaland-investment-pushes-ahead-with-disclosures-from-suppliers-more-green-leases
Sabana Reit’s tenant in Tuas Avenue 8 placed under provisional liquidation
The tenant of Sabana Industrial Real Estate Investment Trust (Sabana Reit) at 30 and 32 Tuas Avenue 8 has been placed in provisional liquidation. The Reit’s manager said in a bourse filing on Tuesday (Jun 11) that the tenant in question, biotechnology company GDMC, accounted for about 2.4 per cent of the Reit’s total gross rental income for the financial year ended Dec 31, 2023.
https://www.businesstimes.com.sg/companies-markets/sabana-reits-tenant-tuas-avenue-8-placed-under-provisional-liquidation
https://www.theedgesingapore.com/news/reits/tenant-sabana-reits-premises-tuas-ave-8-placed-provisional-liquidation
Views, Reviews, Forum and Others
Agents gave kickbacks, bankers took cuts: Ethics flew out the window in money launderers’ deals
Property agents who represented the 10 foreigners in Singapore’s largest money laundering case earned six-figure commissions, but some of them gave up more than half the amount as “kickbacks” in order to close the deal.
https://www.businesstimes.com.sg/property/agents-gave-kickbacks-bankers-took-cuts-ethics-flew-out-window-money-launderers-deals
Airbnb removes listings offering illegal short stays in Singapore
Singapore: Illegal listings on Airbnb offering short-term stays in Singapore have been removed from the platform after CNA reported that some hosts have been advertising such rentals. CNA had found more than 15 such listings offering two- and three-night stays in condominium units and Housing Board (HDB) flats. Some were active for months, claiming to be “authorised serviced apartments”.
https://www.channelnewsasia.com/singapore/illegal-airbnb-listings-singapore-removed-short-stays-rentals-4401756
Global Economy & Real Estate
World Bank raises global growth forecast on strong US expansion
https://www.businesstimes.com.sg/international/global/world-bank-raises-global-growth-forecast-strong-us-expansion
https://www.theedgesingapore.com/news/global-economy/world-bank-raises-global-growth-forecast-strong-us-expansion
US Fed likely to remain on pause and pare back rate cut expectations
https://www.channelnewsasia.com/business/us-fed-likely-remain-pause-and-pare-back-rate-cut-expectations-4397471
US small business sentiment up in May, but looming election clouds outlook
https://www.businesstimes.com.sg/international/us-small-business-sentiment-may-looming-election-clouds-outlook
US weighs more limits on China’s access to chips needed for AI
https://www.businesstimes.com.sg/international/us-weighs-more-limits-chinas-access-chips-needed-ai
Amazon commits US$1.4 billion to build 14,000 affordable homes
https://www.businesstimes.com.sg/property/amazon-commits-us1-4-billion-build-14000-affordable-homes
Australia’s economy is on track for soft landing, treasurer says
https://www.businesstimes.com.sg/international/australias-economy-track-soft-landing-treasurer-says
Australian business conditions soften in May, cost pressures pick up
https://www.businesstimes.com.sg/international/australian-business-conditions-soften-may-cost-pressures-pick
China’s call for ‘open mind’ spurs hope of new housing measures
https://www.businesstimes.com.sg/property/chinas-call-open-mind-spurs-hope-new-housing-measures
Chinese developers’ troubles continue as Dexin gets liquidated
https://www.businesstimes.com.sg/property/chinese-developers-troubles-continue-dexin-gets-liquidated
https://www.straitstimes.com/business/chinese-developers-troubles-continue-as-dexin-gets-liquidated
https://www.scmp.com/business/china-business/article/3266184/china-property-crisis-dexin-joins-list-developers-ordered-liquidate-hong-kong?module=top_story&pgtype=section
ECB says many eurozone banks dragging their feet on loan-loss provisions
https://www.businesstimes.com.sg/international/ecb-says-many-eurozone-banks-dragging-their-feet-loan-loss-provisions
Russian real estate in Finland pose security risk, PM warns
https://www.businesstimes.com.sg/property/russian-real-estate-finland-pose-security-risk-pm-warns
Hong Kong buyer’s market for flats persists as Sun Hung Kai offers homes at 17% discount
https://www.scmp.com/business/article/3266194/hong-kong-buyers-market-flats-persists-sun-hung-kai-offers-homes-17-discount
Japan May wholesale inflation accelerates more than expected
https://www.channelnewsasia.com/business/japan-may-wholesale-inflation-accelerates-more-expected-4403896
Bank of Japan expected to weigh bond buying cuts as rate hike timing nears
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-japan-expected-weigh-bond-buying-cuts-rate-hike-timing-nears
https://www.channelnewsasia.com/business/boj-keep-ultra-low-rates-debate-fate-huge-bond-buying-4403691
BlackRock will expand offerings for overseas investors in Japan
https://www.businesstimes.com.sg/companies-markets/banking-finance/blackrock-will-expand-offerings-overseas-investors-japan
Bank of Korea board members cautious on easing monetary policy, minutes show
https://www.businesstimes.com.sg/international/bank-korea-board-members-cautious-easing-monetary-policy-minutes-show
Brookfield sells Seoul Conrad hotel for about US$300 million
https://www.businesstimes.com.sg/property/brookfield-sells-seoul-conrad-hotel-about-us300-million
Taiwan set to hold rates steady amid persistent inflation worries: Reuters poll
https://www.channelnewsasia.com/business/taiwan-set-hold-rates-steady-amid-persistent-inflation-worries-reuters-poll-4401301
Rise in UK jobless rate muddies Sunak’s message to voters
https://www.businesstimes.com.sg/international/rise-uk-jobless-rate-muddies-sunaks-message-voters
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