Singapore Real Estate
Commercial building Bugis Point up for sale at S$92 million
Bugis Point, a 999-year commercial property at 530 North Bridge Road, has been put up for sale via an expression of interest (EOI) with an indicative price of S$92 million, said exclusive marketing agent PropNex on Monday (Feb 13).
https://www.businesstimes.com.sg/property/commercial-building-bugis-point-sale-s92-million
Freehold bungalows at Chancery Hill up for estate sale at $60 mil
Singapore (EdgeProp) – Three adjoining freehold bungalows at Chancery Hill Road and Dyson Road have been launched for sale by tender, with an indicative price of $60 million.
https://www.edgeprop.sg/property-news/freehold-bungalows-chancery-hill-estate-sale-60-mil
https://www.businesstimes.com.sg/property/family-dick-lee-puts-prime-bungalows-market-s60-million-proceeds-go-charity
https://www.straitstimes.com/business/family-of-dick-lee-puts-prime-bungalows-on-sale-for-60m-with-proceeds-to-go-to-charity
Singapore Economy
Economists ‘cautiously optimistic’ about Singapore economy in 2023, banking on China’s reopening
Cautious optimism appears to be the general sentiment among economists, many of whom are hopeful China’s reopening would provide a lift for the region, even as Singapore’s 2022 growth numbers missed the mark by a notch on Monday (Feb 13).
https://www.businesstimes.com.sg/singapore/economists-cautiously-optimistic-about-singapore-economy-2023-banking-chinas-reopening
https://www.theedgesingapore.com/news/singapore-economy/singapore-faces-uneven-recovery-2023-impact-chinas-reopening-still-uncertain
https://www.channelnewsasia.com/business/5-things-matter-singapore-economy-2023-3273991
Seven things to look out for in Budget 2023
Deputy Prime Minister and Finance Minister Lawrence Wong will deliver the 2023 Budget Statement on Feb 14, with economists expecting a return to prudence after two years of Covid-related spending. But with slowing growth and high inflation, Singaporeans can still expect some short-term support.
https://www.businesstimes.com.sg/singapore/seven-things-look-out-budget-2023
https://www.straitstimes.com/multimedia/the-big-story-budget-2023-will-strengthen-social-compact-give-assurance-for-families-says-dpm-wong
Budget 2023 will strengthen social compact, give assurance for families: DPM Wong
This year’s Budget will focus on moving forward post-Covid-19, said Deputy Prime Minister Lawrence Wong on Monday (Feb 13). In a Facebook post, DPM Wong, who is also Finance Minister, said the Budget’s theme will be “Moving forward in a new era”, and will set out how Singapore will secure its prospects in a troubled world.
https://www.businesstimes.com.sg/singapore/budget-2023-will-strengthen-social-compact-give-assurance-families-dpm-wong
https://www.straitstimes.com/singapore/budget-2023-focus-to-be-on-moving-forward-post-covid-19-says-dpm-wong
https://www.channelnewsasia.com/singapore/budget-2023-lawrence-wong-theme-covid-19-forward-singapore-3274061
Companies’ Brief
Far East Hospitality Trust H2 DPS rises 13.1% to S$0.0173 as operational performance improves
Far East Hospitality Trust’s (FEHT) distribution per stapled security (DPS) for the second half of the financial year ended Dec 31, 2022, rose by 13.1 per cent to S$0.0173, compared with S$0.0153 in the same period last year.
https://www.businesstimes.com.sg/companies-markets/far-east-hospitality-trust-h2-dps-rises-131-s00173-operational-performance
https://www.theedgesingapore.com/capital/results/far-east-hospitality-trust-reports-dps-173-cents-2hfy2022-131-higher-y-o-y
Marina Bay Sands facing further delays to S$4.5 billion expansion plans
Singapore’s Marina Bay Sands (MBS) looks set to experience further delays to its S$4.5 billion expansion plan, according to a filing with the United States Securities and Exchange Commission. MBS, which is owned and operated by US-listed Las Vegas Sands (LVS), announced back in April 2019 that it would be adding a 1,000-room hotel tower and a live entertainment arena seating 15,000, among other facilities.
https://www.businesstimes.com.sg/companies-markets/marina-bay-sands-facing-further-delays-s45-billion-expansion-plans
https://www.straitstimes.com/business/marina-bay-sands-44-billion-extension-likely-to-be-delayed-again
https://www.channelnewsasia.com/singapore/marina-bay-sands-mbs-lvs-development-delayed-pushed-back-government-talks-billion-3274161
Views Reviews, Forum and Others
Tripartite committee recommends protection against age, sex and race biases as part of workplace fairness law
Singapore: A Tripartite Committee on Workplace Fairness on Monday (Feb 13) released an interim report containing 20 recommendations for anti-discrimination workplace legislation. These include stronger protections, a wider range of enforcement tools and prohibiting retaliation by employers.
https://www.channelnewsasia.com/singapore/anti-discrimination-workplace-law-fairness-3273846
https://www.straitstimes.com/business/bill-to-tackle-workplace-discrimination-open-for-public-feedback
https://www.businesstimes.com.sg/singapore/more-remedies-workers-employer-penalties-proposed-singapores-anti-discrimination-law
Singapore commuters keep masks on despite discarded COVID-19 public transport rule
Singapore: Mask-wearing on public transport in Singapore ceased to be mandatory on Monday (Feb 13) but most commuters were seen retaining their face coverings while on trains and buses Monday morning.
https://www.channelnewsasia.com/singapore/mask-public-transport-wearing-commuters-trains-buses-covid-19-restrictions-not-mandatory-3273686
https://www.todayonline.com/singapore/singapore-commuters-keep-masks-despite-discarded-covid-19-public-transport-rule-2106766
Global Economy & Real Estate
Fed’s Bowman expects more rate hikes to reach inflation goal
https://www.businesstimes.com.sg/international/feds-bowman-expects-more-rate-hikes-reach-inflation-goal
IMF chief says markets have good reasons to be more upbeat on economy
https://www.businesstimes.com.sg/international/imf-chief-says-markets-have-good-reasons-be-more-upbeat-economy
EU executive raises eurozone 2023 growth forecast, sees lower inflation
https://www.businesstimes.com.sg/international/eu-executive-raises-eurozone-2023-growth-forecast-sees-lower-inflation
European office demand rebounds from Covid to drive up rents
https://www.businesstimes.com.sg/property/european-office-demand-rebounds-covid-drive-rents
New Zealand house prices edge higher in January: Reinz
https://www.businesstimes.com.sg/property/new-zealand-house-prices-edge-higher-january-reinz
Australia’s consumer confidence plunges on RBA tightening signal
https://www.businesstimes.com.sg/international/australias-consumer-confidence-plunges-rba-tightening-signal
The boom, bust and future of China’s real estate sector
https://www.businesstimes.com.sg/international/global/boom-bust-and-future-chinas-real-estate-sector
China’s weekly new home sales rise for second week in a row
https://www.businesstimes.com.sg/property/chinas-weekly-new-home-sales-rise-second-week-row
Hong Kong adds security law provisions to land sales terms
https://www.businesstimes.com.sg/property/hong-kong-adds-security-law-provisions-land-sales-terms
https://www.straitstimes.com/business/hong-kong-land-sales-now-come-with-a-national-security-warning
Japan’s economy rebounds in Q4, but pace much slower than forecast
https://www.businesstimes.com.sg/international/japans-economy-rebounds-q4-pace-much-slower-forecast
https://www.straitstimes.com/business/japans-economy-rebounds-in-q4-but-pace-much-slower-than-forecast
https://www.channelnewsasia.com/business/japan-averts-recession-q4-gdp-rebound-much-weaker-expected-3275886
Tokyo condo market shows early cooling signs on BOJ policy risks
https://www.businesstimes.com.sg/property/tokyo-condo-market-shows-early-cooling-signs-boj-policy-risks
Packed with tourists, Japan returns to economic growth
https://www.straitstimes.com/asia/east-asia/packed-with-tourists-japan-returns-to-economic-growth
Malaysia will not reintroduce goods and services tax, says PM Anwar
https://www.straitstimes.com/asia/se-asia/malaysia-will-not-reintroduce-goods-and-services-tax-says-pm-anwar
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