Singapore Real Estate/Built Environment
Singapore needs reforms to revive its Reits
The hottest part of Singapore’s otherwise humdrum stock market used to be institutional landlords. Now the city’s real estate investment trusts are begging for a revival in investor interest – and some much-needed reform.
https://www.businesstimes.com.sg/property/singapore-needs-reforms-revive-its-reits
Tampines, Holland Village BTO projects most popular among first-timers in June launch
Singapore – Housing Board Build-To-Order (BTO) projects in Tampines and Holland Village were the most popular among first-timer families in the June sales exercise.
https://www.straitstimes.com/singapore/housing/tampines-holland-village-bto-projects-most-popular-among-first-timers-in-june-launch
https://www.businesstimes.com.sg/companies-markets/reits-property/hdbs-june-bto-exercise-draws-keen-interest-application-rate-over-3-times
Singapore Economy
Asset recovery a priority in Singapore’s anti-money laundering regime: PM Wong
Singapore – Anti-money laundering efforts in Singapore saw the authorities seize $6 billion linked to criminal and money laundering activities between January 2019 and June 2024. About $416 million has been returned to victims, while $1 billion has been forfeited to the state. A large bulk of the remaining sum is linked to ongoing investigations or court proceedings.
https://www.straitstimes.com/singapore/courts-crime/asset-recovery-a-priority-in-singapore-s-anti-money-laundering-regime-pm-wong
https://www.channelnewsasia.com/singapore/lessons-s3-billion-case-help-strengthen-singapores-approach-tackling-money-laundering-pm-wong-4436876
https://www.scmp.com/news/asia/southeast-asia/article/3268073/singapore-unveils-asset-recovery-strategy-protect-its-financial-crown-jewel
Singapore’s factory output beats forecast with 2.9% rise in May
Singapore’s factory output grew 2.9 per cent year on year in May, as output in the key electronics sector rebounded from the previous month’s contraction, data from the Economic Development Board showed on Wednesday (Jun 26).
https://www.businesstimes.com.sg/singapore/singapores-factory-output-beats-forecast-2-9-rise-may
https://www.straitstimes.com/business/economy/singapore-factory-output-beats-forecasts-with-29-rise-in-may-on-electronics-rebound
Business News
Keppel Reit sets up green financing framework as it issues $158m worth of green notes
Singapore – Keppel real estate investment trust or Keppel Reit has put in place a framework for green financing, just as it issues A$175 million (S$158 million) worth of green notes.
https://www.straitstimes.com/business/keppel-reit-sets-green-financing-framework-as-it-issues-158m-worth-of-green-notes
https://www.theedgesingapore.com/news/environmental-social-and-governance/keppel-reit-establishes-green-finance-framework-issues-a175
Hongkong Land and tenants to invest over US$1 bil to transform The Landmark
Mainboard-listed Hongkong Land will invest over US$400 million ($542.39 million) to expand and upgrade its retail portfolio at The Landmark over three years, starting 3Q2024.
https://www.theedgesingapore.com/news/company-news/hongkong-land-and-tenants-invest-over-us1-bil-transform-landmark
https://www.scmp.com/business/china-business/article/3268101/hongkong-land-put-us400-million-3-year-landmark-upgrade-showcase-luxury-brands
Hong Kong’s Swire Pacific to raise up to US$500 million via dollar bond: sources
Hong Kong conglomerate Swire Pacific is looking to raise US$300 million to US$500 million through a five-year US dollar bond, according to two sources with direct knowledge of the matter.
https://www.businesstimes.com.sg/companies-markets/transport-logistics/hong-kongs-swire-pacific-raise-us500-million-dollar-bond-sources
Views, Reviews, Forum and Others
Falling hospitalisation numbers show Covid-19 wave ‘clearly on the wane’: Ong Ye Kung
Singapore – The Covid-19 wave, driven by sub-variants KP.1 and KP.2, is clearly waning, and the falling number of infected patients admitted to hospitals and intensive care units in the past four weeks is evidence of this.
https://www.straitstimes.com/singapore/falling-hospitalisation-numbers-show-covid-19-wave-clearly-on-the-wane-ong-ye-kung
Joint effort under way to ease common delivery woes at S’pore malls, condos and offices
Singapore – Whenever foodpanda rider Keith Ong has to deliver food to condominiums here during a downpour, both he and the food are likely to get drenched. Many condos here require delivery riders who use electric bicycles to leave their two-wheelers outside and walk in, often without much shelter along the way, said the 57-year-old.
https://www.straitstimes.com/singapore/joint-effort-under-way-to-ease-common-delivery-woes-at-s-pore-malls-condos-and-offices
Global Economy & Real Estate
Big US banks withstand Fed’s commercial real estate shock scenario
https://www.straitstimes.com/business/big-us-banks-withstand-fed-s-commercial-real-estate-shock-scenario
Biden administration awards US$85 million to ease affordable housing development
https://www.channelnewsasia.com/world/biden-administration-awards-us85-million-ease-affordable-housing-development-4437411
Oil settles slightly up as global supply risks offset US demand concerns
https://www.channelnewsasia.com/business/oil-settles-slightly-global-supply-risks-offset-us-demand-concerns-4436816
US new home sales slump to six-month low in May
https://www.businesstimes.com.sg/property/us-new-home-sales-slump-six-month-low-may
Australia’s faster inflation raises risk of RBA rate hike
https://www.businesstimes.com.sg/international/australias-faster-inflation-raises-risk-rba-rate-hike
High RBA rates driving some home borrowers to sell: official
https://www.businesstimes.com.sg/property/high-rba-rates-driving-some-home-borrowers-sell-official
Beijing city cuts home buying costs to boost demand
https://www.businesstimes.com.sg/property/beijing-city-cuts-home-buying-costs-boost-demand
https://www.theedgesingapore.com/news/china-focus/beijing-becomes-last-chinese-mega-city-ease-housing-rules
https://www.scmp.com/business/article/3268160/china-property-beijing-becomes-last-major-mainland-city-ease-housing-rules?module=top_story&pgtype=subsection
German consumer confidence set to worsen in July
https://www.businesstimes.com.sg/international/german-consumer-confidence-set-worsen-july
Hong Kong May home prices fall 1.2% to snap two-month rise
https://www.businesstimes.com.sg/property/hong-kong-may-home-prices-fall-1-2-snap-two-month-rise
HK mall to get US$1 billion upgrade with help from Hermes, LVMH
https://www.businesstimes.com.sg/international/global/hk-mall-get-us1-billion-upgrade-help-hermes-lvmh
https://www.straitstimes.com/business/hong-kong-mall-to-get-us1b-upgrade-with-help-from-hermes-lvmh
Hong Kong-listed New World sells Qianhai tower stake for US$198 million
https://www.scmp.com/business/companies/article/3268172/hong-kong-listed-new-world-sells-qianhai-tower-stake-us198-million
Japan May retail sales rise 3.0% year-on-year, exceeding expectations
https://www.channelnewsasia.com/business/japan-may-retail-sales-rise-30-year-year-exceeding-expectations-4438936
Sharp Japan GDP downgrade possible, affecting monetary policy, analysts say
https://www.channelnewsasia.com/business/sharp-japan-gdp-downgrade-possible-affecting-monetary-policy-analysts-say-4437221
Bank of Korea warns of developers’ debt risks as profits shrink
https://www.businesstimes.com.sg/property/bank-korea-warns-developers-debt-risks-profits-shrink
Switzerland sticks to bank capital schedule in blow to UBS
https://www.businesstimes.com.sg/companies-markets/banking-finance/switzerland-sticks-bank-capital-schedule-blow-ubs
Thai economy to grow at potential rate by early 2025, central bank says
https://www.channelnewsasia.com/business/thai-economy-grow-potential-rate-early-2025-central-bank-says-4437211
Thai plan to lift foreign condo ownership cap triggers backlash
https://www.businesstimes.com.sg/international/asean/thai-plan-lift-foreign-condo-ownership-cap-triggers-backlash
UK Conservatives’ 14 years of economic unrest
https://www.businesstimes.com.sg/international/uk-conservatives-14-years-economic-unrest
UK retail sales go into reverse this month, CBI survey shows
https://www.businesstimes.com.sg/international/uk-retail-sales-go-reverse-month-cbi-survey-shows
Blackstone snaps up UK hotel operator Village Hotels
https://www.businesstimes.com.sg/property/blackstone-snaps-uk-hotel-operator-village-hotels
Vietnam PM says Q2 GDP growth seen faster than Q1
https://www.businesstimes.com.sg/international/vietnam-pm-says-q2-gdp-growth-seen-faster-q1
Vietnam wants China’s help for high-speed railway development
https://www.businesstimes.com.sg/international/asean/vietnam-wants-chinas-help-high-speed-railway-development
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