Singapore Real Estate / Built Environment
2nd Reading Speech by 2M Indranee Rajah for Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill
Real estate sector to face stricter compliance, tougher penalties to tackle money laundering
Estate agents, salespersons and developers are set to face stricter compliance requirements and more deterrent penalties. The Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill was read in Parliament for the second time on Tuesday (Apr 8).
https://www.zaobao.com.sg/realtime/singapore/story20250408-6135907
Lakeside Drive, Dunearn Road, Woodlands residential sites released for sale
The first residential site in Turf City along Dunearn Road has been put up for sale by the government on Tuesday (Apr 8), along with two other highly anticipated ones – a Jurong Lake area parcel, and an executive condominium plot in Woodlands.
https://www.zaobao.com.sg/finance/singapore/story20250408-6137392
6 foreign worker dorms with total capacity of 45,000 beds to be built in next few years
Six new dormitories for workers, with a combined capacity of around 45,000 beds, will be built over the next few years, said Senior Minister of State for Manpower Koh Poh Koon on April 8. These include the Ministry of Manpower’s (MOM) new 2,400-worker dormitory in Jalan Tukang that is set to open in early 2026.
Singapore Economy
Trump tariffs: Singapore to form task force to help businesses and workers, says PM Wong
Watch: PM Lawrence Wong’s ministerial statement on US tariffs and their implications for Singapore
Singapore will form a national task force to support businesses and workers in response to sweeping new US tariffs that could slow economic growth and impact jobs and wages, Prime Minister Lawrence Wong announced on Tuesday (Apr 8).
https://www.zaobao.com.sg/finance/singapore/story20250408-6136081
Transparency a key focus of Singapore’s tariff task force; ‘no comfort’ in lower tariff rate
Communications and information sharing will be a key focus of a new government task force aimed at dealing with the fallout of escalating trade tensions, Deputy Prime Minister Gan Kim Yong said in Parliament on Tuesday (Apr 8).
Opposition MPs ask about government’s response to Trump tariffs and how Singapore could find ‘silver linings’
Leader of the Opposition Pritam Singh and other opposition Members of Parliament on Tuesday (Apr 8) sought more clarity on the government’s response to sweeping tariffs by the United States.
https://www.channelnewsasia.com/singapore/lawrence-wong-trump-tariffs-parliament-5051471
Business News
CDL group CEO Sherman Kwek gives up long-term incentive of S$1.35 million; total compensation for FY2024 down 15.4%
CDL seeks shareholders’ nod to buy back shares, which could raise Kwek family’s stake to 55.5%
City Developments Ltd (CDL) group chief executive officer Sherman Kwek has voluntarily forgone his long-term incentive grant of S$1.35 million for financial year 2024, based on CDL’s annual report released on Tuesday (Apr 8).
https://www.zaobao.com.sg/finance/singapore/story20250408-6138175
DBS, UOB and OCBC shares extend fall as outlook clouds on potential Fed rate cuts, US tariffs
Shares of all three local banks extended their decline on April 8 as potential US Federal Reserve rate cuts and the Trump administration’s sweeping tariffs weigh on the banks’ outlook.
https://www.zaobao.com.sg/finance/singapore/story20250407-6132003
Frasers Centrepoint Trust launches preferential offering at S$2.05 apiece
The manager of Frasers Centrepoint Trust on Tuesday (Apr 8) announced the launch of a preferential offering at S$2.05 per unit. The issue price represents a 7.4 per cent discount to the volume-weighted average price of S$2.2136 apiece.
UOB to inject fresh capital of 2 trillion dong into Vietnam unit, build new headquarters in Ho Chi Minh City
United Overseas Bank (UOB) said on Tuesday (Apr 8) that it will inject additional fresh capital of two trillion dong (S$104 million) into its Vietnam subsidiary, bringing its total charter capital of the unit to 10 trillion dong.
Global Economy / Real Estate News
JPMorgan model shows recession fear in markets spiking up to 79%
Trump schedules tariff talks but plans 104% hit on China
Trump’s tariff chaos becomes US$700 billion storm for big banks
US clothing retailers delay orders, freeze hiring as tariffs hit China, Vietnam products
Xi’s No 2 says China is equipped to fight Trump’s tariff hikes
China’s property crisis still a key signal to appetite for junk bonds, Pimco says
Country Garden’s sales slump persists as revival proves elusive
Hong Kong to expand trade deals, boost ties in face of ‘reckless’ US tariffs: John Lee
Hong Kong leader vows more free trade pacts amid ‘ruthless’ US tariffs
Hong Kong manufacturers at risk of job cuts, closure over Trump tariffs: experts
Hong Kong consumers hit with higher prices for foreign goods as tariffs loom
Nearly 25% of companies in Hong Kong may follow government’s wage freeze: poll
Ant Group executive pays US$10 million for Hong Kong villa, 35% lower than 2022 peak
Indonesia inflation rate stays below central bank target zone in March
How the East Coast Rail Link could boost Malaysia’s economy & connectivity
https://www.channelnewsasia.com/interactive/ecrl/
Chinese residents of Malaysian ‘ghost city’ and indebted developer spot a few green shoots
New Zealand says economic recovery made harder by US tariffs
Thailand cuts property fees to prop up industry battling glut
https://www.businesstimes.com.sg/property/thailand-cuts-property-fees-prop-industry-battling-glut
UK to host Europe’s first Universal theme park
https://www.businesstimes.com.sg/international/uk-host-europes-first-universal-theme-park
Vietnam vows to tackle US non-tariff concerns as it seeks 45-day delay of Trump’s levy
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