Singapore Real Estate / Built Environment
Government releases 10 confirmed list land sales sites for H1 2025 including 3 EC parcels
The Ministry of National Development (MND) on Friday (Dec 6) said it will release land that can generate about 5,030 private housing units via the confirmed list of the H1 2025 government land sales (GLS) programme.
https://www.businesstimes.com.sg/property/government-releases-10-confirmed-list-land-sales-sites-h1-2025-including-3-ec-parcels
Singapore retail sales up 2.2% in October with mixed performance across industries
Singapore’s retail sales grew 2.2 per cent on year in October, picking up from the 1.9 per cent growth recorded in the month before, based on Department of Statistics (Singstat) data released on Thursday (Dec 5).
https://www.businesstimes.com.sg/singapore/singapore-retail-sales-2-2-october-mixed-performance-across-industries
https://www.straitstimes.com/business/retail-sales-in-singapore-up-by-2-2-in-october-boosted-by-motor-vehicle-sales
https://www.zaobao.com.sg/realtime/singapore/story20241205-5497825
URA warns of scam involving letter to homeowners requesting tenant registration
The Urban Redevelopment Authority (URA) has warned about a scam involving a letter sent to private homeowners requesting that their tenants register for tenancy.
https://www.channelnewsasia.com/singapore/urban-redevelopment-authority-scam-letter-tenant-registration-andrew-chia-4789041
https://www.straitstimes.com/singapore/courts-crime/homeowners-receive-letter-from-scammers-impersonating-ura-officer-police-report-lodged
https://www.zaobao.com.sg/realtime/singapore/story20241205-5502348
Singapore Economy
Economists cautious on Hong Kong, Singapore growth next year
Singapore’s economy is likely to expand 3.5 per cent in each of the first two quarters of next year, according to the latest survey. However, economists cut their outlook by more than one percentage point to 1.5 per cent in the third quarter and expect the economy to grow at 2.5 per cent in the last quarter in 2025.
https://www.businesstimes.com.sg/international/global/economists-cautious-hong-kong-singapore-growth-next-year
MAS extends deadline to cease corporate cheques to end-2026
The Monetary Authority of Singapore (MAS) will extend the deadline to cease the processing of corporate cheques to the end of 2026. This comes after the Association of Banks in Singapore (ABS) said it will launch two new payment solutions to support corporate and retail cheque users to transition to e-payments.
https://www.businesstimes.com.sg/companies-markets/mas-extends-deadline-cease-corporate-cheques-end-2026
https://www.straitstimes.com/business/banking/two-more-digital-payment-methods-to-launch-in-mid-2025-as-singapore-phases-out-cheques
https://www.channelnewsasia.com/singapore/mas-abs-extend-deadline-corporate-cheques-launched-electronic-deferred-payment-4788346
Singapore’s civil service ranked world’s best in Oxford University study
Singapore’s civil service has been declared the best in the world, according to a new Oxford University study that ranked the public administrations of 120 countries.
https://www.channelnewsasia.com/singapore/singapore-civil-service-top-ranked-oxford-university-blavatnik-index-public-administration-4788616
https://www.zaobao.com.sg/realtime/singapore/story20241205-5501842
Business News
AOKAI International’s acquisition of a construction company boosted its share price by 44.44%
OKH Global’s share price surged 44.44% to close at 2.6 cents following the announcement of its acquisition of construction company Chip Eng Seng Construction.
https://www.zaobao.com.sg/realtime/singapore/story20241205-5502329
https://www.businesstimes.com.sg/companies-markets/hot-stock-okh-global-surges-38-9-after-proposed-acquisition-chip-eng-seng-construction
CLI acquires Osaka facilities from self-storage manager to expand Japan portfolio
CapitaLand Investment (CLI) has acquired four Osaka self-storage facilities from Japanese indoor self-storage manager Ambitious through Extra Space Asia (ESA), a self-storage platform it manages, and plans to acquire another two Tokyo facilities by early 2025.
https://www.businesstimes.com.sg/companies-markets/cli-acquires-osaka-facilities-self-storage-manager-expand-japan-porfolio
https://www.zaobao.com.sg/realtime/singapore/story20241205-5493335
Frasers Property alerted of scam accounts impersonating its subsidiaries
Frasers Property was notified of the existence of unauthorised Telegram accounts impersonating Frasers Centrepoint Trust (FCT) and/or a “Frasers Commercial Trust”, as well as representatives of these entities.
https://www.businesstimes.com.sg/companies-markets/frasers-property-alerted-scam-accounts-impersonating-its-subsidiaries
GuocoLand to redeem S$400 million perpetual securities
GuocoLand’s wholly owned subsidiary, GLL IHT, will redeem S$400 million subordinated perpetual securities. They will be redeemed at S$250,000 for every S$250,000 in nominal amount of the perpetual securities, together with distribution accrued to but excluding Jan 23, 2025, said GuocoLand on Friday (Dec 6).
https://www.businesstimes.com.sg/companies-markets/guocoland-redeem-s400-million-perpetual-securities
Hongkong Land is said to weigh sale of Singapore developer MCL
Asian real estate group Hongkong Land Holdings is considering selling its closely held property developer arm MCL Land, according to people with knowledge of the matter.
https://www.businesstimes.com.sg/property/hongkong-land-said-weigh-sale-singapore-developer-mcl
https://www.straitstimes.com/business/companies-markets/hongkong-land-said-to-weigh-sale-of-singapore-developer-mcl
https://www.zaobao.com.sg/realtime/singapore/story20241205-5502188
Keppel partners Amazon Web Services on generative AI, sustainable infrastructure
Keppel has signed a multi-year strategic framework agreement with Amazon Web Services (AWS) to collaborate on data centres, subsea cables and renewable energy initiatives worldwide.
https://www.businesstimes.com.sg/companies-markets/keppel-partners-amazon-web-services-generative-ai-sustainable-infrastructure
https://www.straitstimes.com/business/companies-markets/keppel-and-amazon-aws-partner-on-data-centres-and-renewable-energy
https://www.zaobao.com.sg/realtime/singapore/story20241205-5494751
Property tycoon Gordon Tang and wife make conditional offer of S$1.16 each to acquire all units of Suntec Reit
Property tycoon Gordon Tang and his wife Celine have made a mandatory conditional cash offer to acquire all the units of Suntec Real Estate Investment Trust : T82U +0.86% (Reit) at S$1.16 per unit in cash.
https://www.businesstimes.com.sg/companies-markets/property-tycoon-gordon-tang-and-wife-make-conditional-offer-s1-16-each-acquire-all-units-suntec-reit
https://www.straitstimes.com/business/companies-markets/property-tycoon-gordon-tang-and-wife-offer-to-buy-rest-of-suntec-reit-at-1-16-per-share
https://www.zaobao.com.sg/realtime/singapore/story20241205-5503657
Global Economy & Real Estate
Business leaders fear recession, labour shortages, World Economic Forum says
https://www.businesstimes.com.sg/international/business-leaders-fear-recession-labour-shortages-world-economic-forum-says
US trade deficit narrows from a more than two-year high
https://www.businesstimes.com.sg/international/us-trade-deficit-narrows-more-two-year-high
US mortgage rates fall to lowest since October, hitting 6.69%
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-lowest-october-hitting-6-69
US weekly jobless claims rise moderately
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-rise-moderately
Reserve Bank of Australia bucks global easing cycle with experiment on steady rates
https://www.businesstimes.com.sg/companies-markets/banking-finance/reserve-bank-australia-bucks-global-easing-cycle-experiment-steady-rates
China warns against ‘worship’ of faster growth before key meeting
https://www.businesstimes.com.sg/international/china-warns-against-worship-faster-growth-key-meeting
Country Garden sales drop worsens as China housing saga drags on
https://www.businesstimes.com.sg/property/country-garden-sales-drop-worsens-china-housing-saga-drags
Hong Kong leader unexpectedly sacks tourism, transport ministers
https://www.businesstimes.com.sg/international/hong-kong-leader-unexpectedly-sacks-tourism-transport-ministers
https://www.channelnewsasia.com/east-asia/hong-kong-john-lee-sacks-transport-tourism-ministers-unexpected-move-4788631
https://www.scmp.com/news/hong-kong/politics/article/3289571/unpacking-john-lees-firing-two-ministers-hong-kong-needs-win
Hong Kong businesses plan hiring sprees as economy perks up in 2025, survey says
https://www.scmp.com/business/article/3289523/hong-kong-businesses-plot-hiring-sprees-economy-perks-2025-survey-says
Indonesian parliament proposes VAT hike only for luxury items
https://www.businesstimes.com.sg/international/asean/indonesian-parliament-proposes-vat-hike-only-luxury-items
Japan October household spending falls 1.3% y/y, better than expected
https://www.channelnewsasia.com/business/japan-consumer-spending-falls-slower-pace-underlying-weakness-persists-4790496
Japan Oct wages show 32-year-high base pay growth, positive for BOJ hike
https://www.channelnewsasia.com/business/japan-oct-wages-show-32-year-high-base-pay-growth-positive-boj-hike-4790486
https://www.businesstimes.com.sg/international/japan-base-pay-gains-record-keeps-door-open-bank-japan-hike
UK companies jittery about rise in labour costs and Trump tariffs: survey
https://www.businesstimes.com.sg/international/uk-companies-jittery-about-rise-labour-costs-and-trump-tariffs-survey
Priciest UK mansion languishes on market after Qatar rejection
https://www.businesstimes.com.sg/property/priciest-uk-mansion-languishes-market-after-qatar-rejection
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