Business News
Keppel to take over legacy rigs; plans to establish offshore infrastructure private fund
Keppel will take over 13 legacy rigs held by Rigco following a selective capital reduction exercise to be completed by the latter. Keppel currently holds a 10 per cent equity stake in Rigco, S$139 million in perpetual securities and about S$4.3 billion in vendor notes issued by Rigco.
https://www.businesstimes.com.sg/companies-markets/keppel-take-over-legacy-rigs-plans-establish-offshore-infrastructure-private-fund
Keppel Infrastructure Trust to acquire 50% of Marina East Water from sponsor Keppel
Keppel Infrastructure Trust will acquire a 50 per cent interest in Marina East Water from Keppel, with the proposed acquisition expected to be completed by the first quarter of 2025, it said on Monday (Nov 18).
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-acquire-50-marina-east-water-sponsor-keppel
https://www.straitstimes.com/business/companies-markets/keppel-infrastructure-trust-to-buy-50-stake-in-owner-of-marina-east-desalination-plant-from-keppel
https://www.zaobao.com.sg/realtime/singapore/story20241118-5362117
Resorts World Sentosa’s casino licence renewed
The authorities have renewed the casino licence of Resorts World Sentosa (RWS), an integrated resort operated by Genting Singapore for another two years, beginning Feb 6 next year.
https://www.businesstimes.com.sg/companies-markets/resorts-world-sentosas-casino-licence-renewed
https://www.channelnewsasia.com/singapore/resorts-world-sentosa-rws-casino-licence-renewal-two-years-4754851
https://www.zaobao.com.sg/realtime/singapore/story20241118-5365815
UOB payment services restored after intermittent issues on Monday
UOB credit and debit card payment services have been fully restored after facing intermittent issues in the morning, said the lender in a Facebook post on Monday (Nov 18).
https://www.businesstimes.com.sg/companies-markets/uob-payment-services-restored-after-intermittent-issues-monday
https://www.straitstimes.com/singapore/uob-credit-debit-card-services-restored-after-intermittent-disruption
https://www.zaobao.com.sg/realtime/singapore/story20241118-5362004
Views, Reviews, Forum and Others
Another S$1.9 billion from major money-laundering case surrendered to the state
An additional S$1.9 billion in assets seized from the major anti-money laundering case that broke in Singapore last year have been surrendered to the state, the police said on Monday (Nov 18).
https://www.businesstimes.com.sg/singapore/another-s1-9-billion-major-money-laundering-case-surrendered-state
https://www.straitstimes.com/singapore/3b-money-laundering-case-1-85b-in-assets-surrendered-by-15-suspects-on-the-run-from-spore-police
https://www.channelnewsasia.com/singapore/billion-dollar-money-laundering-foreigner-suspects-forfeit-assets-state-police-4753766
https://www.zaobao.com.sg/realtime/singapore/story20241118-5363127
https://www.scmp.com/news/asia/southeast-asia/article/3287129/singapore-says-launderers-who-surrendered-us14-billion-are-free-go-cant-return
CPF Special Account will be closed for those 55 and above next year. What should you do?
Singapore: You may have heard by now that the Central Provident Fund (CPF) Special Account will soon cease to exist for those aged 55 and older. The policy change to the country’s mandatory social security savings scheme was first announced in Budget 2024.
https://www.channelnewsasia.com/singapore/cpf-special-account-closed-2025-4743151
Global Economy & Real Estate
Amid fears of global trade war, a UK-US free trade deal would be a win-win for both nations
https://www.businesstimes.com.sg/opinion-features/amid-fears-global-trade-war-uk-us-free-trade-deal-would-be-win-win-both-nations
US homebuilder sentiment reaches seven-month high after election
https://www.businesstimes.com.sg/property/us-homebuilder-sentiment-reaches-seven-month-high-after-election
Airbnb urges Barcelona to reconsider crackdown on tourism rentals
https://www.businesstimes.com.sg/property/airbnb-urges-barcelona-reconsider-crackdown-tourism-rentals
China’s Jan-Oct government land sales revenue down 22.9% year on year
https://www.businesstimes.com.sg/property/chinas-jan-oct-government-land-sales-revenue-down-22-9-year-year
China to address world’s overcapacity concerns by cutting export-tax rebate
https://www.scmp.com/economy/global-economy/article/3287056/china-address-worlds-overcapacity-concerns-cutting-export-tax-rebate
Shanghai will reduce real estate transaction taxes to boost demand
https://www.businesstimes.com.sg/property/shanghai-will-reduce-real-estate-transaction-taxes-boost-demand
Country Garden submits offshore debt restructuring plan to creditors
https://www.businesstimes.com.sg/property/country-garden-submits-offshore-debt-restructuring-plan-creditors
https://www.straitstimes.com/business/property/country-garden-submits-offshore-debt-restructuring-plan-to-creditors-sources
China’s youth-jobless rate hovers above 17% for fourth consecutive month
https://www.scmp.com/economy/economic-indicators/article/3287073/chinas-youth-jobless-rate-hovers-above-17-fourth-consecutive-month
Hong Kong’s first private residence for elderly set to welcome retirees who can afford it
https://www.scmp.com/news/hong-kong/society/article/3286939/hong-kongs-first-private-residence-elderly-set-welcome-retirees-who-can-afford-it
The View | 5 reasons Hong Kong’s property sector will weather the Trump shock
https://www.scmp.com/opinion/hong-kong-opinion/article/3286999/5-reasons-hong-kongs-property-sector-will-weather-trump-shock
Bank Indonesia to keep rates steady on Nov. 20 to stabilise battered rupiah: Reuters poll
https://www.channelnewsasia.com/business/bank-indonesia-keep-rates-steady-nov-20-stabilise-battered-rupiah-reuters-poll-4754281
Seoul apartment prices drop for first time in nine months
https://www.businesstimes.com.sg/property/seoul-apartment-prices-drop-first-time-nine-months
UK creates new businesses at slowest rate since 2010
https://www.businesstimes.com.sg/companies-markets/uk-creates-new-businesses-slowest-rate-2010
Bank of England’s Greene reinforces case for cautious interest-rate cuts
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-englands-greene-reinforces-case-cautious-interest-rate-cuts
UK retail warns of inflation and job losses from budget, seeks Reeves meeting
https://www.businesstimes.com.sg/international/uk-retail-warns-inflation-and-job-losses-budget-seeks-reeves-meeting
Asking prices for UK homes show big November dip but 2025 set for gains
https://www.businesstimes.com.sg/property/asking-prices-uk-homes-show-big-november-dip-2025-set-gains
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.