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DAILY NEWS

 

Daily News 27 May 2025 (Tue)

Singapore Real Estate / Built Environment

 

Hillcrest Arcadia’s S$920 million en bloc tender closes with no bids

The collective sale of Bukit Timah condominium Hillcrest Arcadia has moved into private treaty talks, after a tender closed on Thursday (May 22) with no bids.

https://www.businesstimes.com.sg/property/hillcrest-arcadias-s920-million-en-bloc-tender-closes-no-bids

https://www.zaobao.com.sg/realtime/singapore/story20250526-6475170

 

Weave Living, BlackRock and Lian Beng Group acquire Shan Road property for $100 mil

Hong Kong-based accommodation provider Weave Living has announced the acquisition of a freehold serviced apartment building at 12 Shan Road, which is set to become its fourth property in Singapore. In a May 26 press release, Weave Living says the property, located in the Novena area, was acquired in partnership with global asset management firm BlackRock and Singapore’s Lian Beng Group for over $100 million.

https://www.edgeprop.sg/property-news/weave-living-blackrock-and-lian-beng-group-acquire-shan-road-property-100-mil

 

Singapore Economy / News

 

Asean must strengthen external ties in new growth areas, even as integration continues: PM Wong

Asean must deepen and expand its external partnerships, especially in new growth areas, even as it steps up its own internal integration, said Prime Minister Lawrence Wong on Monday (May 26).

https://www.businesstimes.com.sg/singapore/asean-must-strengthen-external-ties-new-growth-areas-even-integration-continues-pm-wong

https://www.straitstimes.com/singapore/politics/asean-must-strengthen-its-integration-to-give-itself-manoeuvring-space-pm-wong

https://www.channelnewsasia.com/asia/asean-100-tariff-elimination-strengthen-integration-efforts-lawrence-wong-5153091

https://www.zaobao.com.sg/realtime/singapore/story20250526-6474877

 

Singapore, Netherlands’ biggest growth opportunities lie in green and digital transitions, circular economy sectors: Grace Fu

As Singapore and the Netherlands mark 60 years of bilateral relations, the future of their partnership could lie in areas such as green and digital transitions, climate and water management, circular economy and global supply chains.

https://www.businesstimes.com.sg/singapore/singapore-netherlands-biggest-growth-opportunities-lie-green-and-digital-transitions-circular

 

Front-loading drives Singapore’s factory output growth, which slows to 5.9% in April but far exceeds estimates

Front-loading activity amid uncertainty over US President Donald Trump’s tariffs supported Singapore’s industrial production growth in April, economists said after the latest prints were released on Monday (May 26).

https://www.businesstimes.com.sg/singapore/front-loading-drives-singapores-factory-output-growth-which-slows-5-9-april-far-exceeds-estimates

https://www.straitstimes.com/business/economy/singapores-factory-output-growth-slows-to-5-9-in-april-as-tariffs-cloud-trade-outlook

https://www.zaobao.com.sg/finance/singapore/story20250526-6473725

 

Less than 75% of fresh graduates from private institutions secure jobs within 6 months

Fewer than three in four fresh graduates from private education institutions found employment within six months of graduation, based on the Private Education Institution (PEI) Graduate Employment Survey 2023/2024 released by SkillsFuture Singapore (SSG) on Monday (May 26).

https://www.businesstimes.com.sg/singapore/less-75-fresh-graduates-private-institutions-secure-jobs-within-6-months

https://www.straitstimes.com/singapore/less-than-half-of-private-uni-grads-find-full-time-jobs-despite-slight-increase-in-salaries

 

 

Business News

 

Boustead’s H2 profit up 58% at S$59.1 million

Engineering and technology group Boustead Singapore’s net profit for the six months ended Mar 31, 2025, increased 58 per cent to S$59.1 million compared to the year-ago period. This came despite revenue decreasing 42 per cent to S$231.9 million over the same time frame.

https://www.businesstimes.com.sg/companies-markets/bousteads-h2-profit-58-s59-1-million

 

Bukit Sembawang Estates H2 FY2025 earnings up 13% at S$51.4 million

Property developer Bukit Sembawang Estates reported a net profit after tax of S$51.4 million for the second half of its financial year ending Mar 31, a 13 per cent increase from S$45.6 million over the same period last year.

https://www.businesstimes.com.sg/companies-markets/bukit-sembawang-estates-h2-fy2025-earnings-13-s51-4-million

 

Centurion seen as small-cap ‘jewel’ amid demand for dormitory spaces, potential Reit listing

With demand for foreign workers continuing to outpace the supply of dormitory spaces, Centurion Corporation is ramping up capacity and exploring asset monetisation, making it a small-cap property play to watch.

https://www.businesstimes.com.sg/companies-markets/centurion-seen-small-cap-jewel-amid-demand-dormitory-spaces-potential-reit-listing

 

Maybank Q1 net profit rises 4% to RM2.6 billion

Maybank’s net profit for the quarter ended Mar 31, 2025, increased 4 per cent to RM2.6 billion (S$790 million), up from RM2.5 billion in the previous corresponding period. Earnings per share increased to 21.45 sen, from 20.63 sen in the year-ago period.

https://www.businesstimes.com.sg/companies-markets/maybank-q1-net-profit-rises-4-rm2-6-billion

https://www.zaobao.com.sg/realtime/singapore/story20250526-6474703

 

Park Hotel Management and Allen Law’s legal battle results in landmark High Court judgment for insolvency law

Former Park Hotel Management (PHMPL) director Allen Law, who is being sued by liquidators of the company, has failed to reduce his potential liabilities by S$6.8 million after the High Court rejected his application to amend his defence and introduce a counterclaim.

https://www.businesstimes.com.sg/property/park-hotel-management-and-allen-laws-legal-battle-results-landmark-high-court-judgment-insolvency

 

 

Global Economy / Real Estate News

 

Trump considering taking US$3 billion in Harvard grants, giving them to trade schools

https://www.businesstimes.com.sg/international/trump-considering-taking-us3-billion-harvard-grants-giving-them-trade-schools

 

Asia’s rich trim US exposure, head to Europe amid tariff turmoil

https://www.businesstimes.com.sg/companies-markets/asias-rich-trim-us-exposure-head-europe-amid-tariff-turmoil

 

China should mull a 4% GDP target, focus on jobs, debts in next 5 years: former official

https://www.scmp.com/economy/china-economy/article/3311765/china-should-mull-4-gdp-target-focus-jobs-debts-next-5-years-former-official

 

China’s premier calls for expanded trade ties with Malaysia

https://www.businesstimes.com.sg/international/asean/chinas-premier-calls-expanded-trade-ties-malaysia

 

Moody’s reaffirms negative outlook on China on trade concerns

https://www.businesstimes.com.sg/international/global/moodys-reaffirms-negative-outlook-china-trade-concerns

 

Chinese, EU trade heads to meet as Trump tariff tensions rise

https://www.businesstimes.com.sg/international/chinese-eu-trade-heads-meet-trump-tariff-tensions-rise

 

China’s Xinjiang plans to open up to more tourists – including foreigners

https://www.scmp.com/economy/china-economy/article/3311842/chinas-xinjiang-plans-open-more-tourists-including-foreigners

 

China, Vietnam reopen railway line amid tourism boom after 5-year pause

https://www.scmp.com/economy/china-economy/article/3311800/china-vietnam-reopen-railway-line-amid-tourism-boom-after-5-year-pause

 

Hong Kong exports up by 14.7% year on year in April due to mainland China growth

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3311841/hong-kong-exports-147-year-year-april-due-mainland-china-growth

 

Hong Kong airport’s revamped Terminal 2 to open in stages from September

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3311850/hong-kong-airports-terminal-2-open-stages-september

 

As Hong Kong office rents plummet, landlords upgrade with video walls to lure tenants

https://www.scmp.com/business/article/3311713/hong-kong-office-rents-plummet-landlords-upgrade-video-walls-lure-tenants

 

Japanese retailers like 3Coins capitalise on Hong Kong’s retail property slump to expand

https://www.scmp.com/business/article/3311867/japanese-retailers-3coins-capitalise-hong-kongs-retail-property-slump-expand

 

Japan’s corporate service inflation hits 3.1% in April

https://www.channelnewsasia.com/business/japans-corporate-service-inflation-hits-31-april-5154446

 

Luxury Tokyo penthouse sold for over 9.5 billion yen in booming market

https://www.businesstimes.com.sg/property/luxury-tokyo-penthouse-sold-over-9-5-billion-yen-booming-market

 

 

 

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