Singapore Real Estate
Developers sell 301 new homes in April, down 58%, on fewer launches
Developers in Singapore chalked up 301 new private home sales in April, 58.1 per cent lower than March’s take-up as fewer new units were launched in the month, official data showed on Wednesday (May 15).
https://www.businesstimes.com.sg/companies-markets/developers-sell-301-new-homes-april-down-58-fewer-launches
https://www.straitstimes.com/business/new-private-home-sales-slump-to-4-year-low-in-april-on-lack-of-major-new-launches
Sandpiper Hotel in Little India back on the market for S$33 million
Sandpiper Hotel in Little India is back on the market via expression of interest with a lower indicative price of S$33 million, said exclusive marketing agent CBRE on Wednesday (May 15). The three-storey freehold property was previously put on the market in 2022 at a guide price of S$35 million. It has 31 guest rooms, a restaurant on the ground floor, and a basement.
https://www.businesstimes.com.sg/property/sandpiper-hotel-little-india-back-market-s-33-million
Singapore Economy
PM Wong calls on Singaporeans to support each other, help his government take the country forward
Prime Minister Lawrence Wong called upon Singaporeans to join him in taking the country forward, after he was sworn in as Singapore’s fourth prime minister on Wednesday (May 15). “As prime minister, I will lead and bear responsibility for the decisions I take,” he said. “But I will also engage and maximise the combined energies, imaginations and strengths of all Singaporeans.
https://www.businesstimes.com.sg/singapore/pm-wong-calls-singaporeans-support-each-other-help-his-government-take-country-forward
https://www.straitstimes.com/singapore/politics/pm-lawrence-wong-to-s-poreans-join-me-and-my-team-in-our-journey-forward
https://www.todayonline.com/news/we-will-lead-our-own-way-lawrence-wong-takes-office-4th-prime-minister-singapore-2423296
https://www.channelnewsasia.com/singapore/we-will-lead-our-own-way-lawrence-wong-takes-office-fourth-prime-minister-singapore-4338016
https://www.scmp.com/week-asia/politics/article/3262771/lawrence-wong-take-over-singapore-pm-country-sees-only-its-3rd-leadership-change-independence
Singapore No. 1 again in world ranking on government effectiveness
Singapore has topped a ranking that tracks the effectiveness of more than 100 governments around the world for the second consecutive year.
https://www.straitstimes.com/singapore/singapore-no-1-again-in-world-ranking-on-government-effectiveness
Redeveloped Alexandra Hospital to house emergency department, around 1,300 beds
Singapore – From 2028, the 300-bed Alexandra Hospital in Queenstown will be transformed into a bigger hospital comprising about 1,300 beds in total, with the addition of two new high-rise buildings among other upgrades.
https://www.straitstimes.com/singapore/health/redeveloped-alexandra-hospital-to-house-emergency-department-around-1300-beds
Business News
CapitaLand India Trust appoints new CEO-designate
CapitaLand India Trust (Clint) has appointed Gauri Shankar Nagabhushanam as its new chief executive officer, effective August 2024. He is currently the CEO of India business park at CapitaLand Investment. The plan is for him to succeed the outgoing CEO, Sanjeev Dasgupta, around August 2024, the company said in a statement on Wednesday (May 15).
https://www.businesstimes.com.sg/companies-markets/capitaland-india-trust-appoints-new-ceo-designate
OUE Healthcare proposes sale of mixed commercial site for RM125 million
OUE Healthcare is proposing to sell a vacant mixed commercial development plot in Kuala Lumpur for RM125 million (S$35.6 million). The healthcare group expects to receive net cash proceeds of approximately RM120.3 million from the sale, after deducting the sales commission and the estimated professional fees and other related expenses, which will be used for working capital purposes, it said in a bourse filing on Wednesday (May 15) evening.
https://www.businesstimes.com.sg/companies-markets/oue-healthcare-proposes-sale-mixed-commercial-site-rm125-million
Global Economy & Real Estate
US business inventories fall in March
https://www.businesstimes.com.sg/international/us-business-inventories-fall-march1
US retail sales unexpectedly flat in April
https://www.businesstimes.com.sg/international/us-retail-sales-unexpectedly-flat-april
US consumer prices rise less than expected in April; core CPI slows
https://www.businesstimes.com.sg/international/us-consumer-prices-rise-less-expected-april-core-cpi-slows
https://www.straitstimes.com/business/us-consumer-prices-rise-less-than-expected-in-april-core-cpi-slows
Oil prices rise on moderate US inflation data, strong demand
https://www.channelnewsasia.com/business/oil-prices-rise-moderate-us-inflation-data-strong-demand-4339706
Australia Q1 wage growth slows, soothes inflation worries
https://www.businesstimes.com.sg/international/australia-q1-wage-growth-slows-soothes-inflation-worries
Australia pauses China working holiday visas ahead of reforms
https://www.businesstimes.com.sg/international/australia-pauses-china-working-holiday-visas-ahead-reforms
‘‘What doesn’t kill you makes you stronger,’’ China trolls new US tariffs
https://www.businesstimes.com.sg/international/global/what-doesnt-kill-you-makes-you-stronger-china-trolls-new-us-tariffs
US homebuilder sentiment tumbles as rates slow buyer traffic
https://www.businesstimes.com.sg/property/us-homebuilder-sentiment-tumbles-rates-slow-buyer-traffic
Canadian homes for sale climb with second-biggest jump on record
https://www.businesstimes.com.sg/property/canadian-homes-sale-climb-second-biggest-jump-record
China adjusts added value accounting to mitigate data manipulation, clean up GDP statistics
https://www.scmp.com/economy/china-economy/article/3262665/china-adjusts-added-value-accounting-mitigate-data-manipulation-clean-gdp-statistics?module=top_story&pgtype=subsection
China’s central bank leaves key policy rate unchanged
https://www.businesstimes.com.sg/international/chinas-central-bank-leaves-key-policy-rate-unchanged1
China mulls government purchases of unsold homes to ease glut
https://www.businesstimes.com.sg/international/global/china-mulls-government-purchases-unsold-homes-ease-glut
China says new COVID-19 variant unlikely to trigger a fresh infection wave in the country
https://www.channelnewsasia.com/east-asia/china-new-covid-19-variant-unlikely-trigger-new-infection-wave-kp2-omicron-4337656
China property: Hangzhou, the headquarters of Alibaba and Geely, mulls buying unsold homes to boost market
https://www.scmp.com/business/article/3262810/china-property-hangzhou-headquarters-alibaba-and-geely-mulls-buying-unsold-homes-boost-market
ABN Amro rides high rates with first-quarter net profit beat
https://www.businesstimes.com.sg/companies-markets/banking-finance/abn-amro-rides-high-rates-first-quarter-net-profit-beat
Eurozone economy, employment expands by 0.3% in first quarter
https://www.businesstimes.com.sg/international/global/eurozone-economy-employment-expands-0-3-first-quarter
Eurozone home loan stress ‘manageable’ despite high rates, says ECB
https://www.businesstimes.com.sg/property/eurozone-home-loan-stress-manageable-despite-high-rates-says-ecb
Expanded Hong Kong solo travel scheme will bring extra 300,000 tourists, up to HK$1.5 billion: John Lee
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3262634/expanded-hong-kong-solo-travel-scheme-will-bring-300000-tourists-hk15-billion-john-lee?module=top_story&pgtype=subsection
Future is electric for Hong Kong’s bus fleet, says world’s biggest manufacturer Alexander Dennis
https://www.scmp.com/business/companies/article/3262822/future-electric-hong-kongs-bus-fleet-says-worlds-biggest-manufacturer-alexander-dennis?module=top_story&pgtype=subsection
Indonesia records $3.56 billion trade surplus in April, above forecast
https://www.channelnewsasia.com/business/indonesia-records-356-billion-trade-surplus-april-above-forecast-4337021
Japan’s economy skids, complicating BOJ’s rate hike plans
https://www.channelnewsasia.com/business/japans-economy-skids-complicating-bojs-rate-hike-plans-4339626
Half of Japanese firms downbeat on China’s economy: survey
https://www.businesstimes.com.sg/international/half-japanese-firms-downbeat-chinas-economy-survey
Japan visitors exceed 3 million for 2nd straight month, tourism agency says
https://www.businesstimes.com.sg/international/japan-visitors-exceed-3-million-2nd-straight-month-tourism-agency-says
Malaysia Airports gets take-private offer from consortium including Khazanah, EPF
https://www.businesstimes.com.sg/international/asean/malaysia-airports-gets-take-private-offer-consortium-including-khazanah-epf
Thai industrial sentiment falls in April on weak demand, wage hike plan
https://www.channelnewsasia.com/business/thai-industrial-sentiment-falls-april-weak-demand-wage-hike-plan-4336936
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