DAILY NEWS

Daily News – 16 Sep 2022 (Fri)

SINGAPORE REAL ESTATE

New private home sales tumble in August on lack of new condo launches
The number of private homes sold in August slid to nearly half the amount sold a month ago, as developers held back launches during the Hungry Ghost month – when sales activities tend to slow.
https://www.businesstimes.com.sg/real-estate/new-private-home-sales-tumble-in-august-on-lack-of-new-condo-launches
https://www.straitstimes.com/business/property/new-private-home-sales-slump-in-august-amid-hungry-ghost-festival-limited-new-stock

Owners evicted from Arc@Tampines unit after MCST’s forced sale to recover unpaid maintenance fees
A couple who owned a three-bedroom apartment at Arc@Tampines were evicted after the executive condominium’s management corporation strata title (MCST) forced sold the unit at an auction in April.
https://www.straitstimes.com/business/property/owners-forced-to-sell-arctampines-condo-unit-over-36k-in-unpaid-maintenance-fees

For first-time HDB buyers, non-mature estates are the best bet
More Build-To-Order units in non-mature estates will be set aside for first-time applicants to help more of them get a flat, but this is not enough to move the needle overall.
https://www.straitstimes.com/opinion/ontheground-drawing-demand-from-mature-housing-estates

SINGAPORE ECONOMY

Singapore exports grow 11.4% in August; electronics shrink for first time since November 2020
Singapore’s key exports rose as a whole in August but electronics shipments contracted for the first time in nearly 2 years, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Sep 16).
https://www.businesstimes.com.sg/government-economy/singapore-exports-grow-114-in-august-electronics-shrink-for-first-time-since
https://www.straitstimes.com/business/economy/spore-exports-grow-114-in-august-electronics-shrink-for-first-time-since-nov-2020

Travellers flying out of Changi Airport to pay higher charges from Nov 1
Passengers flying out of Changi Airport will have to pay more in airport charges from Nov 1, as international air travel continues to recover from the effects of the Covid-19 pandemic.
https://www.straitstimes.com/singapore/transport/travellers-flying-out-of-changi-airport-to-pay-higher-fees-and-charges-from-nov-1
https://www.channelnewsasia.com/singapore/changi-airport-fees-levies-charges-departing-passengers-nov-1-phased-increase-2940366

Strong pricing power is king amid inflation; Singapore, Indonesia emerge regional winners: RHB
Companies with strong pricing power will have much to gain from the inflationary environment as these players tend to have more stable profit margins when dealing with cost pressures.
https://www.businesstimes.com.sg/asean-business/strong-pricing-power-is-king-amid-inflation-singapore-indonesia-emerge-regional

How the Vietnam-Singapore Industrial Park grew 20-fold in 26 years
In its early days, attracting foreign investors to the Vietnam-Singapore Industrial Park (VSIP) was a “hard sell”, said the Singapore chair of the industrial park’s operator.
https://www.businesstimes.com.sg/asean-business/how-the-vietnam-singapore-industrial-park-grew-20-fold-in-26-years

Green Growth: Building green businesses in Asia
One of the greatest levers to get to net-zero is deploying climate technologies. Businesses and governments can apply these technologies to decarbonise the fossil fuel base and build new green businesses.
https://www.businesstimes.com.sg/opinion/green-growth-building-green-businesses-in-asia

COMPANIES’ BRIEF

Frasers Property upsizes green notes to S$500m following strong demand
Frasers Property on Thursday (Sep 16) announced it would be upsizing its 5-year green notes from S$420 million to S$500 million after noting that demand for its earlier offer was oversubscribed.
https://www.businesstimes.com.sg/companies-markets/frasers-property-upsizes-green-notes-to-s500m-following-strong-demand

Hatten Land ties up with Ayala-linked entity for renewable energy projects
Catalist-listed developer Hatten Land has formed a joint venture (JV) with an independent power producer (IPP) linked to Philippine conglomerate Ayala Corporation. The JV will raise up to US$10 million in funds for renewable energy projects, with a focus on solar energy generation in Singapore and Malaysia, the group said in a press statement on Friday (Sep 16).
https://www.businesstimes.com.sg/companies-markets/hatten-land-ties-up-with-ayala-linked-entity-for-renewable-energy-projects

GIC and Oak Street make cash offer for NYSE-listed Store Capital for US$14b
Sovereign wealth fund GIC, together with real estate investment firm Oak Street, will acquire New York Stock Exchange (NYSE)-listed net-lease real estate investment trust (Reit) Store Capital in an all-cash transaction valued at US$14 billion.
https://www.businesstimes.com.sg/real-estate/gic-and-oak-street-make-cash-offer-for-nyse-listed-store-capital-for-us14b
https://www.straitstimes.com/business/companies-markets/gic-and-oak-street-make-cash-offer-for-nyse-listed-store-capital-for-us14b

Aims Apac Reit, SP Group to install solar energy system at 6 properties
Aims Apac Real Estate Investment Trust (AA Reit) has partnered SP Group to install rooftop solar photovoltaic (PV) systems across 6 of its industrial, logistics and warehouse properties by December 2023.
https://www.businesstimes.com.sg/companies-markets/aims-apac-reit-sp-group-to-install-solar-energy-system-at-6-properties