Singapore Real Estate / Built Environment
Joint venture by Boustead Projects’ unit clinches JTC tender to develop industrial facility on Tukang Innovation Drive site
A joint venture of Boustead Projects’ wholly owned subsidiary was awarded a tender by JTC Corporation on Friday (May 30) to develop an industrial facility on a land parcel under the industrial government land sales programme.
S$50 million property buy, adult learning push among Teo Ser Luck’s final-year agenda at Isca
Singapore’s national accounting body is in active talks to acquire a property in the Central Business District (CBD) for about S$50 million, as part of a long-term investment strategy.
Upcoming Hotel Indigo Changi Airport to offer indoor ‘rainforest’ and control tower views
Hotel Indigo Changi Airport, set to stand beside Terminal 2, will offer a “distinctive local experience” and incorporate sustainable elements into its design, said property developer OUE
Is it time to remove the 15-month wait-out period for private property owners eyeing HDB resale flats?
Lifting the 15-month wait-out period for owners of private homes seeking to buy public housing flats may trigger a rebound in resale prices, analysts said, as tight supply and firm demand continue to underpin the market despite signs of price moderation.
Singapore News
Singapore and France working together to put in place outlines of new global order: PM Wong
Singapore and France are two “like-minded” countries working together to put in place the outlines of a new global order, with the old one of decades past changing, Prime Minister Lawrence Wong said on Friday (May 30).
https://www.zaobao.com.sg/news/singapore/story20250531-6526327
Australia DPM meets Singapore leaders, reaffirms defence relationship with Singapore
Australian Deputy Prime Minister and Defence Minister Richard Marles met with Defence Minister Chan Chun Sing on June 1. Mr Marles, who was in town for the Shangri-La Dialogue, also called on Prime Minister Lawrence Wong during his visit.
https://www.zaobao.com.sg/realtime/singapore/story20250601-6533448
Going alone is not the answer to security questions: Chan Chun Sing
Political and military leaders must arrest the temptation to go it alone when they feel insecure, as history has many examples of such an approach backfiring, Defence Minister Chan Chun Sing said on Sunday (Jun 1).
https://www.businesstimes.com.sg/singapore/going-alone-not-answer-security-questions-chan-chun-sing
Carbon tax-paying firms can carry over unused offsets to 2025 due to limited carbon credit supply
Carbon tax-liable companies in Singapore, which have been able to use eligible carbon credits to offset up to 5 per cent of their emissions each year, will be allowed to roll over their unused offset limit in 2024 to 2025.
Energy Market Authority chairman Richard Lim to step down in September
Energy Market Authority (EMA) chairman Richard Lim will step down in September after leading the energy authority’s board for five years. Mr Lim will relinquish his appointment as chairman on Sep 30, the Ministry of Trade and Industry (MTI) said on Friday (May 30) in a press release.
Singapore News
Jardine Matheson Holdings names Lincoln Pan as CEO-designate ahead of group managing director John Witt’s retirement
Hong Kong-based conglomerate Jardine Matheson Holdings on Thursday (May 29) announced the appointment of Lincoln Pan as chief executive-designate, as group managing director John Witt will retire from the company in late-November.
Stamford Land H2 profit falls 14.2% to S$17.6 million amid softer market, Australian dollar depreciation
roperty company Stamford Land reported a 14.2 per cent fall in net profit to S$17.6 million for its second half ended March, from S$20.6 million in the year-ago period. Earnings per share (EPS) stood at S$0.0119, down from S$0.0138.
Wee Hur sets up S$500 million medium-term note programme
Property company Wee Hur has established a S$500 million multi-currency medium term note programme, it said via a bourse filing on Friday (May 30). The proceeds raised from notes issued under this programme will be used for the company’s general corporate purposes.
Global Economy / Real Estate News
US consumer spending growth slows while inflation remains soft
US jobs market showing cracks as corporate profits post largest drop since 2020
US dollar declines as traders assess tariff outlook
https://www.channelnewsasia.com/business/us-dollar-declines-traders-assess-tariff-outlook-5162276
Australian house prices continue to climb after RBA rate cut
https://www.businesstimes.com.sg/property/australian-house-prices-continue-climb-after-rba-rate-cut
Doing business in China is getting harder, but its exports are hard to resist
Chinese economy stays challenged but some consumer stocks offer potential: BOA
China’s manufacturing activity contracts amid trade tension
China, Japan close to resuming seafood imports after Fukushima ban
China home sales slump drags on as deflation eats into incomes
https://www.businesstimes.com.sg/property/china-home-sales-slump-drags-deflation-eats-incomes
Hong Kong’s Link takes rental hits amid fight to retain retail tenants
Tepid sales at Hong Kong’s Uni Residence as competition heats up in new home market
From riches to rags: Hong Kong’s veteran property investors grapple with market downturn
New World seeks more banks to join up to US$2 billion loan
https://www.businesstimes.com.sg/property/new-world-seeks-more-banks-join-us2-billion-loan
1880 Hong Kong club folds after 7 months, accused of owing staff unpaid wages
Japan factory declines slow in May but tariff worries persist, PMI shows
Japan Q1 corporate capex up 6.4%, points to solid domestic demand
Tokyo prices rising most in two years, keeps BOJ on hike path
San Francisco office towers sell in City’s biggest deal since 2022
https://www.businesstimes.com.sg/property/san-francisco-office-towers-sell-citys-biggest-deal-2022
S Korea factory activity shrinks again, new orders suffer steepest slump in 5 years, PMI shows
Thai economy improved in April, outlook still intact, central bank says
British home prices to rise 3.5% this year; government to miss 5-year building target
UK business confidence hits 9-month high in boost for Starmer
Work on US$1b Trump Tower in Vietnam could start next year
https://www.businesstimes.com.sg/property/work-us1b-trump-tower-vietnam-could-start-next-year
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