DAILY NEWS

Daily News – 27 Sep 2022 (Tue)

SINGAPORE REAL ESTATE

2 buildings zoned commercial in Tanjong Pagar to be launched for collective sale
A pair of 5-storey buildings on Hoe Chiang Road and Lim Teck Kim Road in prime Central Business District’s (CBD) Tanjong Pagar will be launched for collective sale in mid-November after recently achieving 80 per cent consent from owners.
https://www.businesstimes.com.sg/real-estate/2-buildings-zoned-commercial-in-tanjong-pagar-to-be-launched-for-collective-sale

Location can continue to drive price premium for CBD offices, prime area homes
Singapore’s suburbs have transformed over recent years. Places such as Jurong and Tampines have become high-quality live, work and play destinations. Will the pricing premium enjoyed by the traditional prime areas such as the Central Business District (CBD) for offices and districts 9, 10 and 11 for homes erode and possibly even disappear?
https://www.businesstimes.com.sg/opinion/location-can-continue-to-drive-price-premium-for-cbd-offices-prime-area-homes

SINGAPORE ECONOMY

Leadership handover to happen ‘when we’re ready’, priority now on pressing issues such as cost of living: DPM Wong
Singapore — Deputy Prime Minister Lawrence Wong told business leaders at a global conference on Monday (Sept 26) evening that he will take over the mantle of leadership from Prime Minister Lee Hsien Loong at a time when both he and the People’s Action Party’s fourth generation (4G) team are “ready for it”.
https://www.todayonline.com/singapore/leadership-handover-happen-when-were-ready-priority-now-pressing-issues-such-cost-living-dpm-wong-2003641

Letting geopolitics shape trade takes world down ‘dangerous’ path: DPM Wong
When geopolitics-driven economic decisions become normalised, the world could be going down a more “dangerous and fractured” path, said Deputy Prime Minister Lawrence Wong. “Previously, the logic was countries do not have to be friends to do business with one another – in fact, the hope was that the more we trade and invest in each other, we will tamp down geopolitical rivalry,” said Wong.
https://www.businesstimes.com.sg/government-economy/letting-geopolitics-shape-trade-takes-world-down-dangerous-path-dpm-wong
https://www.straitstimes.com/singapore/in-an-uncertain-world-spore-can-continue-to-be-a-reliable-trusted-node-dpm-wong
https://www.channelnewsasia.com/singapore/singapore-no-position-prescribe-actions-us-china-open-lines-communication-lawrence-wong-2966711

Singapore factory output grows 0.5% in August, beating economists’ estimates
Singapore’s factory output expanded by 0.5 per cent on the year in August, down from a revised 0.8 per cent growth in July, according to data from the Singapore Economic Development Board (EDB) on Monday (Sep 26).
https://www.businesstimes.com.sg/government-economy/singapore-factory-output-grows-05-in-august-beating-economists-estimates
https://www.straitstimes.com/business/economy/singapore-factory-output-sees-weakest-growth-in-11-months-as-electronics-production-falls

Analysts bearish on British pound; weaker UK economy to hurt S-Reits, companies
The British pound is likely to continue to weaken as the United Kingdom pursues policies to jumpstart corporate growth amid soaring inflation caused by the European energy crisis. Analysts predict that the pound could test further lows against the Singapore dollar, after reaching a 4-decade intra-day low on Monday (Sep 26) of 1.50.
https://www.businesstimes.com.sg/companies-markets/analysts-bearish-on-british-pound-weaker-uk-economy-to-hurt-s-reits-companies