Singapore Economy / News
Johor-Singapore special economic zone agreement signed at leaders’ retreat
The new Johor-Singapore Special Economic Zone (JS-SEZ) is not just about enabling Singapore businesses to go to Johor, but rather it is the zone’s “greater potential” in having both countries work together to attract new investment projects globally, said Prime Minister Lawrence Wong on Tuesday (Jan 7).
Making progress on longstanding bilateral issues a key priority for Singapore-Malaysia relations in 2025: PM Wong
Singapore wants to make progress with Malaysia on longstanding bilateral issues such as airspace, water and maritime cooperation, even as it pursues new areas of collaboration, said Prime Minister Lawrence Wong on Tuesday (Jan 7).
https://www.zaobao.com.sg/realtime/singapore/story20250107-5697881
New law lets more Singapore companies undergo simpler, more cost-effective insolvency process
Singapore’s insolvency process will become simpler and more cost-effective under a new law passed on Tuesday (Jan 7) that revamps the existing Simplified Insolvency Programme (SIP), said Second Minister for Law Edwin Tong in Parliament.
https://www.zaobao.com.sg/realtime/singapore/story20250107-5697398
Singapore passes law that gives police powers to freeze bank accounts of scam victims
Singapore: Parliament on Tuesday (Jan 7) passed a new law providing the police with powers to order banks to restrict the banking transactions of potential scam victims.
Proposed workplace fairness law ‘strikes the right balance for now’: Tan See Leng
Singapore’s government is confident that its proposed workplace fairness legislation – more than three years in the making – “strikes the right balance for now”, said Minister for Manpower Tan See Leng in Parliament on Tuesday (Jan 7).
https://www.zaobao.com.sg/realtime/singapore/story20250107-5699887
Slow payments among Singapore firms rise for first time in 6 quarters: Credit bureau
Singapore – The quantum of slow payments among Singapore firms rose for the first time in six quarters, led by the services sector, according to the Singapore Commercial Credit Bureau (SCCB).
Business News
Centurion exploring Reit listing for workers and student accommodation assets
Centurion Corporation is currently exploring the establishment of a real estate investment trust (Reit) comprising some of its workers and student accommodation assets.
DBS upgrades PropNex to a ‘buy’ rating, lifts target price on expected ‘rebound’ in property market
DBS on Monday (Jan 6) upgraded its rating for real estate agency PropNex to “buy” and raised its target price for the stock on a positive outlook for its earnings as well as Singapore’s property market.
Views, Reviews, Forum and Others
9 construction sites where workers died in second half of 2024 had inadequate safety measures
Singapore – Of the 14 construction sites where workers died in the second half of 2024, nine were found to have had inadequate safety management systems, posing an imminent danger to those working there.
https://www.zaobao.com.sg/realtime/singapore/story20250107-5696484
MOM urges contractors, construction workers to stay alert in busy lead-up to Chinese New Year after worksite death
The Ministry of Manpower (MOM) said on Tuesday (Jan 7) there must be “no compromises” on safety in the lead-up to the Chinese New Year period, following the death of a construction worker last week.
https://www.zaobao.com.sg/realtime/singapore/story20250107-5701190
Global Economy & Real Estate
Trump win triggered 2024 exit by overseas investors from Asian equities
December central bank rate cuts take 2024 easing push to historic level
US services index climbs, price gauge hits highest since 2023
US job openings rise to six-month high on business services
https://www.businesstimes.com.sg/international/us-job-openings-rise-six-month-high-business-services
US trade deficit widens on largest jump in imports since 2022
https://www.businesstimes.com.sg/international/us-trade-deficit-widens-largest-jump-imports-2022
How China’s planning its biggest push in years to cut hidden debt
China’s residential foreclosures increase in 2024 amid property slump
China’s richest regions cut electricity prices to protect industries
China’s controversial jobless rate needs to be reformed, scholar urges
Hong Kong eases investment thresholds to attract family offices
Hong Kong banks hoard record piles of cash as economy sputters
Hong Kong’s ambitious plan to build 3 artificial islands set for another delay
Hong Kong to offer just 1 land plot this quarter amid developer caution
Toyota aims to open its futuristic city in Japan this year
https://www.businesstimes.com.sg/companies-markets/toyota-aims-open-its-futuristic-city-japan-year
Another year of big wage hikes likely at big Japan firms, business lobby chair says
New Zealand house prices tipped to show modest gains in 2025
https://www.businesstimes.com.sg/property/new-zealand-house-prices-tipped-show-modest-gains-2025
Highest UK debt costs since 1998 risk more labour tax hikes
https://www.businesstimes.com.sg/international/highest-uk-debt-costs-1998-risk-more-labour-tax-hikes
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