SINGAPORE REAL ESTATE
Reflections at Keppel Bay owner resells unit for S$6.6m higher – just one year on
The seller of a 7,050 square foot (sq ft), 40th floor unit at 99-year-leasehold Reflections at Keppel Bay divested the unit for some S$6.6 million more in the space of about a year, making the deal the largest profit-maker by quantum in the secondary market in the third quarter this year.
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/reflections-at-keppel-bay-owner-resells-unit-for-s66m-higher-just-one
31ha of forested areas in Bedok to make way for 10,000 new homes in Bayshore
Singapore – About 31ha of forested areas in Bedok are slated for clearance by 2029, to make way for the future Bayshore housing precinct which will likely be ready from the mid-2030s.
https://www.straitstimes.com/singapore/housing/31ha-of-forested-areas-in-bedok-to-make-way-for-10000-new-homes-in-bayshore
SINGAPORE ECONOMY
Singaporeans must take charge of careers by identifying new opportunities: Tan See Leng
Even as the government invests in schemes to help Singaporeans seize new opportunities, workers must also learn to identify opportunities in the economy, set long-term career goals and take proactive steps towards achieving them, said Manpower Minister Tan See Leng on Wednesday (Nov 2).
https://www.businesstimes.com.sg/government-economy/singaporeans-must-take-charge-of-careers-by-identifying-new-opportunities-tan-see
Singapore PMI shrinks further in October, mirroring weak factory activity across region
Singapore’s overall factory activity sank further in October, as global economic headwinds continued to hit manufacturing sentiment in the region. The Purchasing Managers’ Index dipped a further 0.2 point to post a second straight month of contraction at 49.7 in October, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Wednesday (Nov 2).
https://www.businesstimes.com.sg/government-economy/singapore-pmi-shrinks-further-in-october-mirroring-weak-factory-activity-across
https://www.straitstimes.com/business/singapore-s-factory-activity-contracts-for-second-straight-month
COMPANIES’ BRIEF
CLI establishes 2 onshore renminbi funds totalling 4b yuan for business parks
CapitaLand Investment (CLI) has established two onshore renminbi funds totalling around four billion yuan (S$796 million) to invest in business park opportunities in China.
Massive share buybacks not the answer; Hongkong Land needs restructuring to unlock value
Property group (HKLH) is at around the half-way mark for the use of its share-buyback mandate, but the stock is nowhere near improving its valuations. It may be time for a change of tactics.
GLOBAL ECONOMY & GLOBAL REAL ESTATE
Fed delivers another steep rate hike with more to come
https://www.channelnewsasia.com/business/fed-delivers-another-steep-rate-hike-more-come-3039366
https://www.todayonline.com/world/us-fed-makes-fourth-jumbo-rate-increase-and-signals-more-come-2035761
https://www.straitstimes.com/business/economy/us-fed-makes-another-075-point-rate-hike-signals-smaller-increases-ahead-but-higher-peak
BOE set to deliver biggest rate rise in 33 years
https://www.businesstimes.com.sg/government-economy/mobile-spotlight/boe-set-to-deliver-biggest-rate-rise-in-33-years
German exports post unexpected dip in September
https://www.businesstimes.com.sg/government-economy/german-exports-post-unexpected-dip-in-september
New Zealand central bank can get inflation under control: RBNZ governor
https://www.businesstimes.com.sg/government-economy/new-zealand-central-bank-can-get-inflation-under-control-rbnz-governor
Sweden’s home prices fall by most since at least 2013 in latest data
https://www.businesstimes.com.sg/real-estate/swedens-home-prices-fall-by-most-since-at-least-2013-in-latest-data
Russia’s economy shrinks 5% year-on-year in September
https://www.straitstimes.com/business/economy/russias-economy-shrinks-5-year-on-year-in-september
China regulator says it’s concerned about property sector
https://www.businesstimes.com.sg/real-estate/china-regulator-says-its-concerned-about-property-sector
Hong Kong struggles to tame a long-simmering housing crisis
https://www.businesstimes.com.sg/real-estate/hong-kong-struggles-to-tame-a-long-simmering-housing-crisis
Hong Kong, struggling to revive hub status, sells ‘China advantage’ to global banks
https://www.businesstimes.com.sg/government-economy/hong-kong-struggling-to-revive-hub-status-sells-china-advantage-to-global-banks
Hong Kong follows Fed with rate hike, adding to economy’s woes
https://www.businesstimes.com.sg/government-economy/hong-kong-follows-fed-with-rate-hike-adding-to-economys-woes
https://www.straitstimes.com/business/hong-kong-follows-fed-with-rate-hike-adding-to-economy-s-woes