The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 3 Feb 2023 (Fri)

Singapore Economy


Singapore interest rates seen edging higher as US hikes are not done yet
Singapore – The United States Federal Reserve delivered on Wednesday its smallest rate hike since last year and acknowledged that US inflation is cooling. But that does not mean the price pressures seen in Singapore are now in the past and that interest rates here, especially those that affect home loans, will start to ease any time soon.


Singapore PMI inches up in January but remains in contraction for 5th straight month
Singapore’s overall factory activity improved modestly in January but remained in contraction territory for the fifth straight month, lagging behind regional peers. The Purchasing Managers’ Index (PMI) inched up 0.1 point to 49.8 last month, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Thursday (Feb 2).



Companies’ Brief


CapitaLand China Trust posts 24.4% drop in H2 DPU to S$0.034
CapitaLand China Trust (CLCT) on Friday (Feb 3) posted a 24.4 per cent year-on-year drop in distribution per unit (DPU) to S$0.034 for its second half ended Dec 31, 2022, from S$0.045 a year ago.


CapitaLand Ascendas Reit H2 DPU rises 4.3% to S$0.07925 on higher revenue
CapitaLand Ascendas Reit (Clar) on Thursday (Feb 2) posted a distribution per unit (DPU) of S$0.07925 for the second half ended Dec 31, 2022, up 4.3 per cent from S$0.07598 in the year-ago period.


Chip Eng Seng privatisation offer closing date extended to Feb 16
The closing date for the mandatory cash offer of Chip Eng Seng by chairman Celine Tang and her husband Gordon Tang has been further extended to 5.30 pm on Feb 16. This marks the third extension for the offer’s close after it was previously extended on two occasions to Feb 2 and Jan 19, respectively.


Hong Kong giant Swire makes push into luxury residential in Bangkok with 2.4b baht land buy
Swire Properties has acquired a 40 per cent stake in a prime freehold plot in Bangkok for 2.4 billion baht (S$95 million), its first investment in the Thai capital’s property market. The Hong Kong company bought the interest in the Wireless Road site from HKR International.


Keppel H2 net profit falls 40.6% to S$429.1 million
Keppel Corporation reported on Thursday (Feb 2) a 40.6 per cent year-on-year decline in net profit for the second half ended December on the back of lower revenue from continuing operations.


New construction project brings Lian Beng’s order book in Singapore to $1.9 bil
Lian Beng Group has announced that its wholly-owned subsidiary, Deenn Engineering, secured a new construction project. With the inclusion of the new project, the group’s construction order book in Singapore stands at approximately $1.9 billion, which will provide a sustainable flow of activity through FY2027.



Global Economy & Real Estate


OECD offers final guidance for global minimum corporate tax


US factory orders rebound in December


US weekly jobless claims fall; layoffs surge in January


US layoffs hit two-year high in Jan as tech slashed thousands of jobs: report


ECB raises rates again and plans at least one more hike 


UK financial watchdog proposes banning referral fees for debt-advisory firms


Bank of England raises borrowing costs to 4%, hints rates near peak


Spain’s jobless inches up in Jan but stays at 15-year low


China private sector sees big-business share drop a second year


China Jan services activity expands for first time in five months – Caixin PMI


Chinese cities lower or scrap floor on mortgage rates to boost demand


China to fully resume travel with Hong Kong, Macao on Feb 6


New World considers sale of majority of HK$11 billion Hong Kong office tower: sources


Hong Kong offers 500,000 free flights to woo back visitors after Covid


Japan’s Jan services activity growth at three-month high: PMI


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