Singapore Real Estate
Orchard Towers collective sale falls through
An attempt for the collective sale of Orchard Towers has failed to obtain the requisite 80 per cent consent from unit owners, according to mainboard-listed property developer Hiap Hoe. Hiap Hoe, whose subsidiary Golden Bay Realty owns 59 strata lots – comprising 21 shops and 38 offices – at Orchard Towers, said in a bourse filing on Monday (Feb 20) it had been informed that the proposed deal had fallen through.
https://www.businesstimes.com.sg/property/orchard-towers-collective-sale-falls-through
https://www.straitstimes.com/business/property/orchard-towers-collective-sale-falls-through
https://www.theedgesingapore.com/news/company-news/hiap-hoes-orchard-towers-en-bloc-sale-failed
Is there relative value with suburban landed homes?
Private homes in Singapore are expensive. Still, savvy home buyers may find relative value in certain segments. Could a suburban landed home be a good buy? In 2022, private home prices rose 8.6 per cent, after having increased 10.6 per cent in 2021.
https://www.businesstimes.com.sg/opinion-features/there-relative-value-suburban-landed-homes
Singapore Economy
Singapore can pay for higher social spending without hiking income taxes for the time being: analysts
Singapore’s ambitious social agenda can continue to be funded without drastic new tax moves – at least in the near future, watchers have told The Business Times. But if new policies require more revenue, possible sources include further goods and services tax (GST) hikes and property-related taxes.
https://www.businesstimes.com.sg/singapore/economy-policy/singapore-can-pay-higher-social-spending-without-hiking-income-taxes-time
Singapore firms gloomier about H1 after poorer Q4 performance: BT-SUSS poll
Business sentiment for the next six months has become gloomier as firms’ performance worsened further from a quarter ago, the latest Business Times-Singapore University of Social Sciences (BT-SUSS) Business Climate Survey has found.
https://www.businesstimes.com.sg/singapore/singapore-firms-gloomier-about-h1-after-poorer-q4-performance-bt-suss-poll
Companies’ Brief
Frasers Property’s board should act with some urgency to address weak share price
Frasers Property (FPL) has started the year off by showing, once again, that it is a good real estate investment trust (Reit) sponsor. But its minority shareholders may now want the group to turn its attention to the value of FPL’s shares.
https://www.businesstimes.com.sg/opinion-features/columns/frasers-propertys-board-should-act-some-urgency-address-weak-share-price
Genting Singapore H2 net profit more than doubles to S$255.7 million on travel recovery momentum
Integrated Resort (IR) operator Genting Singapore’s net profit for its second half (H2) has more than doubled, thanks to increased gaming and non-gaming revenue from the growth of Singapore’s international tourist arrivals.
https://www.businesstimes.com.sg/companies-markets/genting-singapore-h2-net-profit-more-doubles-s2557-million-travel-recovery
https://www.straitstimes.com/business/genting-singapore-second-half-profit-more-than-doubles-to-2557m-as-travel-rebounded
https://www.theedgesingapore.com/capital/results/genting-singapore-fy2022-net-profit-85-final-dividend-double-previous-year
Brokers’ take: DBS initiates coverage on Hotel Properties Limited, portfolio primed for revenge travel
DBS on Monday (Feb 20) initiated coverage on Hotel Properties Limited (HPL), as analysts said the group’s prime hotel portfolio in tourist hotspots and countries with relaxed Covid-19 policies would make it a key beneficiary from a return of Chinese tourists.
https://www.businesstimes.com.sg/companies-markets/brokers-take-dbs-initiates-coverage-hotel-properties-limited-portfolio-primed
https://www.theedgesingapore.com/capital/brokers-calls/dbs-initiates-buy-hotel-properties-tp-435
https://www.edgeprop.sg/property-news/hiap-hoes-orchard-towers-en-bloc-sale-faild
Global Economy & Real Estate
New Zealand set to moderate tightening pace as inflation peaks
https://www.businesstimes.com.sg/international/new-zealand-set-moderate-tightening-pace-inflation-peaks
Developing countries’ debt troubles in focus at G20 talks, says Germany’s finance minister
https://www.businesstimes.com.sg/international/global/developing-countries-debt-troubles-focus-g20-talks-says-germanys-finance
Portugal to force owners of vacant homes to find tenants
https://www.businesstimes.com.sg/property/portugal-force-owners-vacant-homes-find-tenants
Asia central banks may need to keep hiking interest rates if core inflation stays high: IMF
https://www.straitstimes.com/business/asia-central-banks-may-need-to-keep-hiking-interest-rates-if-core-inflation-stays-high-imf
China launches pilot scheme to boost private investment in real estate
https://www.businesstimes.com.sg/international/global/china-launches-pilot-scheme-boost-private-investment-real-estate
Hong Kong’s budget dilemma is how to revive city and cut deficit
https://www.businesstimes.com.sg/international/global/hong-kongs-budget-dilemma-how-revive-city-and-cut-deficit
Taiwan January export orders fall more slowly, downside risks remain
https://www.businesstimes.com.sg/international/taiwan-january-export-orders-fall-more-slowly-downside-risks-remain
https://www.channelnewsasia.com/business/taiwan-january-export-orders-fall-more-slowly-downside-risks-remain-3291026
https://www.scmp.com/economy/global-economy/article/3210856/taiwans-export-orders-fall-fifth-straight-month-hit-459-cent-slump-mainland-china-and-hong-kong
Japan yields rise after spike in Treasuries
https://www.businesstimes.com.sg/companies-markets/banking-finance/japan-yields-rise-after-spike-treasuries
Japan’s factory activity shrinks at fastest pace in 2-1/2 years-PMI
https://www.channelnewsasia.com/business/japans-factory-activity-shrinks-fastest-pace-2-1-2-years-pmi-3292301
https://www.businesstimes.com.sg/international/japans-factory-activity-shrinks-fastest-pace-2-12-years-pmi
Will Japan lose top talent to Singapore, Hong Kong, London over weak yen and lower pay?
https://www.scmp.com/week-asia/economics/article/3210843/will-japan-lose-top-talent-singapore-hong-kong-london-over-weak-yen-and-lower-pay
South Korea’s early trade data show export slump persisting
https://www.businesstimes.com.sg/international/south-koreas-early-trade-data-show-export-slump-persisting
https://www.channelnewsasia.com/business/south-korea-feb-1-20-exports-fall-23-despite-more-working-days-3292266
Malaysia PM Anwar’s first budget on Friday: Five things to watch out for
https://www.businesstimes.com.sg/international/asean/malaysia-pm-anwars-first-budget-friday-five-things-watch-out
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