Singapore Real Estate / Built Environment
S-Reits’ secondary fundraising rebounds in 2024; more may tap capital markets next year
Singapore-listed real estate investment trusts (S-Reits) have been more active in their equity fundraising (EFR) in 2024, with the total amount raised from private placements and preferential offerings rebounding from levels seen a year ago.
The changing landscape of petrol stations in Singapore: What lies ahead?
Early this month, US energy major ExxonMobil was reportedly mulling the sale of its network of nearly 60 petrol stations in Singapore, which could fetch about US$1 billion.
Four North Bridge Road shophouses up for sale at S$37 million guide price
A quartet of freehold conservation shophouses in District 7 have been put up for sale via an expression of interest (EOI) exercise at a guide price of S$37 million.
https://www.zaobao.com.sg/realtime/singapore/story20241213-5591233
HDB starts work on flats not announced for sale yet in Clementi, Toa Payoh and Bukit Merah
Singapore – Hundreds of new Housing Board Build-To-Order (BTO) flats that have yet to be announced for sale are being built in Clementi, Toa Payoh and Bukit Merah.
Singapore Economy / News
No rush for MAS to ease monetary policy early in 2025, as uncertainty over Trump lingers
After more than two years of holding steady, Singapore’s central bank is expected to start easing monetary policy in 2025. The question is when exactly.
Data protection guidelines on NRIC numbers will be updated after public consultation: PDPC
New advisory guidelines on the use of National Registration Identity Card (NRIC) numbers will be issued by the Personal Data Protection Commission (PDPC), following the government’s change in stance that such numbers should no longer be viewed as private and confidential.
https://www.channelnewsasia.com/singapore/pdpc-nric-numbers-personal-data-protection-4807096
https://www.zaobao.com.sg/realtime/singapore/story20241214-5594960
Acra disables search function for NRIC numbers on portal for now
The Accounting and Corporate Regulatory Authority (Acra) has temporarily disabled the function allowing people to access the IC numbers of individuals on its new portal.
Business News
CLI to acquire Australian credit investment manager Wingate for A$200 million
CapitaLand Investment is acquiring the property and corporate credit investment management business of Wingate Group in Australia for A$200 million (S$173 million), to expand its private credit business and portfolio in the country.
https://www.zaobao.com.sg/realtime/singapore/story20241216-5599562
UOB names its corporate banking head Leong Yung Chee as new group CFO
UOB has appointed Leong Yung Chee, its current head of group corporate banking, as its next group chief financial officer (CFO), the bank said on Friday (Dec 13).
https://www.zaobao.com.sg/realtime/singapore/story20241213-5591636
Views, Reviews, Forum and Others
Construction sector fatalities trebled in second half of 2024: MOM
Singapore’s construction sector fatalities have trebled in the second half of 2024 to 15, up from just five in the first half of the year, said the Ministry of Manpower (MOM) in a social media post on Friday (Dec 13) evening.
Singapore’s cheque volumes have fallen 80% but some users aren’t writing them off yet
Writing cheques has become a thing of the past for most people in Singapore as the country increasingly adopts digital payment methods such as PayNow and mobile wallets.
Enough Paxlovid to treat Covid-19 in at-risk adults, but it is no longer free: MOH
There is enough supply of Paxlovid, an antiviral medication to treat adults at high risk of severe Covid-19, and the Ministry of Health (MOH) will release the stockpile only when the need arises.
Global Economy & Real Estate
All eyes on the Federal Reserve this week amid rate cut expectations
The 24 hours of rate cuts that end year of global central-bank easing
US import prices rise marginally in November
https://www.businesstimes.com.sg/international/us-import-prices-rise-marginally-november
Mortgage rates in US decrease for third week, falling to 6.6%
https://www.businesstimes.com.sg/property/mortgage-rates-us-decrease-third-week-falling-6-6
Office property meltdown is starting to surface at US banks
https://www.businesstimes.com.sg/property/office-property-meltdown-starting-surface-us-banks
Australia’s economy under pressure amid China’s slowdown: Treasurer Chalmers
Australian immigration falls for first time in two years
https://www.businesstimes.com.sg/international/australian-immigration-falls-first-time-two-years
Asian nations in race to build concert venues
https://www.businesstimes.com.sg/international/global/asian-nations-race-build-concert-venues
China to deepen economic ties with Asean, focusing on high-growth sectors
China’s GDP growth expected around 5% this year, senior official says
China’s housing regulator sees stabilisation signs: report
Germany is unraveling just when Europe needs it the most
https://www.straitstimes.com/business/economy/germany-unraveling-just-when-europe-needs-it-the-most
German exports fall more than expected in October
https://www.businesstimes.com.sg/international/german-exports-fall-more-expected-october
Hong Kong welcomes 17% more mainland tourists after Shenzhen visa change
More Hong Kong shops to close as retail habits change, shopping shifts online
Private banks boost Hong Kong hiring to woo rich Chinese clients
Japan Nov inflation likely accelerated, exports up on weak yen
BOJ to skip rate hike in December, majority of economists say
Japan October machinery orders rise on strong manufacturing sector
The New York luxury housing market is back
https://www.businesstimes.com.sg/property/new-york-luxury-housing-market-back
A tale of two cities: Lessons from a US tech hub as Singapore revs up digital economy ambitions
Seattle developer Selig expects to default on more office debt
https://www.businesstimes.com.sg/property/seattle-developer-selig-expects-default-more-office-debt
South Korea’s central bank vows to stabilise markets amid political turmoil
South Korean businesses based in China eye Trump tariffs nervously
Thailand expects to collect global minimum corporate tax from Jan 2025
UK economy in October suffers first back-to-back declines since 2020
Britain joins trans-Pacific pact in biggest post-Brexit trade deal
UK factories take fright as budget adds to cost pressures: survey
Worker shortages raise doubts over Britain’s plan to build for growth
UK property asking prices fall, headwinds remain for 2025: Rightmove
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