SINGAPORE REAL ESTATE
Singapore landed homes see fastest price appreciation in a decade in 2021: ERA
Landed residential property prices in Singapore appreciated at the fastest pace in the past 10 years in 2021, surging 13.3 per cent year on year compared to a lacklustre 1.2 per cent expansion in 2020.
https://www.businesstimes.com.sg/real-estate/singapore-landed-homes-see-fastest-price-appreciation-in-a-decade-in-2021-era
Mountbatten Road conservation bungalow up for sale with S$63.6m price tag
Another freehold conservation bungalow in District 15 has been launched for sale, this time, at an asking price of S$63.6 million or S$2,000 per square foot (psf). Marketed by OrangeTee & Tie, the property, at 760 Mountbatten Road, comes with a land size of 31,820 square feet (sq ft)…
https://www.businesstimes.com.sg/real-estate/mountbatten-road-conservation-bungalow-up-for-sale-with-s636m-price-tag
SINGAPORE ECONOMY
Singapore inflation hits decade highs in March as consumer prices surge by 5.4%
Singapore’s headline inflation jumped to 5.4 per cent in March – a high not seen since April 2012 – as the cost of food, services, private transport and accommodation all rose. The all-items consumer price index (CPI) reading picked up strongly from 4.3 per cent in February, and came in well ahead of the median forecast of 4.7 per cent in a Bloomberg poll.
https://www.businesstimes.com.sg/government-economy/singapore-inflation-hits-decade-highs-in-march-as-consumer-prices-surge-by-54
S’pore manufacturing picks up pace, defying China lockdowns and Ukraine war
Singapore – Factory activity in Singapore picked up pace in April, posting a 22nd month of consecutive expansion, despite the disruptions caused by Covid-19 lockdowns in China and the war in Ukraine reverberating across global supply chains.
https://www.straitstimes.com/business/economy/singapore-manufacturing-picks-up-pace-defying-china-lockdowns-and-ukraine-war
COMPANIES’ BRIEF
LHN expects at least S$34m in H1 2022 net profit before tax
Real estate management services provider LHN expects to record a higher net profit before tax of “no less than approximately S$34 million” for H1 2022, compared with approximately S$18.3 million from the year-ago period, the group said on Wednesday (May 4) in a preliminary update of the group’s unaudited financial results.
https://www.businesstimes.com.sg/companies-markets/lhn-expects-at-least-s34m-in-h1-2022-net-profit-before-tax
Hatten Land, Focus Media to jointly invest 8m yuan in Melaka mall e-sports hub
Hatten Land as inked a 10-year agreement with a subsidiary of Chinese media group Focus Media Information Technology to invest around 8 million yuan (S$1.7 million) in an e-sports hub project. The immersive e-sports hub will be one of the anchor tenants at Hatten Land’s Element X mall in Melaka, occupying more than 90,000 square feet of retail space, the group said in a bourse filing on Thursday (May 5).
https://www.businesstimes.com.sg/companies-markets/hatten-land-focus-media-to-jointly-invest-8m-yuan-in-melaka-mall-e-sports-hub
https://www.straitstimes.com/business/companies-markets/hatten-land-focus-media-to-jointly-invest-17m-in-melaka-mall-e-sports-hub
Ascendas Reit posts 4.6% rental reversion in Q1 2022, expects positive low single-digit figure for full year
Ascendas Reit (A-Reit) reported positive rental reversion of 4.6 per cent for lease renewals in its first quarter ended Mar 31, with its portfolio occupancy standing at 92.6 per cent, down from 93.2 per cent in the last quarter.
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-posts-46-rental-reversion-in-q1-2022-expects-positive-low-single
ESR-Logos Reit opens at S$0.395 on first day of trading
Units of ESR-Logos Reit (E-Log Reit) began trading on the Singapore Exchange (SGX) on Thursday (May 5) morning at S$0.395. The units were trading 1.3 per cent or S$0.005 higher than the last closing price of the counter, when it was previously known as ESR-Reit, with 476,000 units changing hands at the open.
https://www.businesstimes.com.sg/companies-markets/esr-logos-reit-opens-at-s0395-on-first-day-of-trading
Lendlease Reit posts 99.9% occupancy; 313@somerset tenant sales close to 2020 levels
The manager of Lendlease Global Commercial Reit (real estate investment trust) on Thursday (May 5) said that portfolio occupancy for the first quarter ended Mar 31 remained high at 99.9 per cent.
https://www.businesstimes.com.sg/companies-markets/lendlease-reit-posts-999-occupancy-313somerset-tenant-sales-close-to-2020-levels
VIEWS, REVIEWS, FORUM AND OTHERS
Securing Singapore’s supply chain for the future
Not too long ago, trade wars sent technology companies in various parts of the world scrambling to hoard electronic parts essential to computers, smartphones and other products. Such stockpiling efforts led to shortages of components such as semiconductors, which impacted other industries like the automotive industry that were reliant on those parts.
https://www.businesstimes.com.sg/opinion/securing-singapores-supply-chain-for-the-future
Amara shareholders would have benefited from more detailed disclosures
Property developer and hotel group Amara Holdings has recently experienced a dwindling in its list of independent directors (IDs). At Amara’s annual general meeting (AGM) on Apr 26, a resolution to re-elect Tan Tiong Cheng as an ID was not passed because 110 million shares – representing 77.7 per cent of the shares voted that day – were against it.
https://www.businesstimes.com.sg/opinion/amara-shareholders-would-have-benefited-from-more-detailed-disclosures
Singapore companies in Malaysia do not expect big hit from minimum wage hike
Malaysia’s 25 per cent hike of its minimum wage to RM1,500 (S$477), effective May 1, is not expected to have a significant impact on Singapore-based companies with operations there, as many workers are already paid above that threshold, bosses told The Business Times.
https://www.businesstimes.com.sg/asean-business/singapore-companies-in-malaysia-do-not-expect-big-hit-from-minimum-wage-hike
UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION
Singapore to offer Novavax jab under national vaccination programme by end-May
Singapore will start offering the Novavax vaccine against Covid-19 by end-May, the Ministry of Health (MOH) said on Wednesday night (May 4), after the first shipment arrived. At the same time, the ministry announced plans to introduce joint testing and vaccination centres (JTVCs) that it said “will allow us to consolidate our resources, while ensuring testing and vaccination services remain accessible to the public”.
https://www.businesstimes.com.sg/government-economy/singapore-to-offer-novavax-jab-under-national-vaccination-programme-by-end-may
https://www.straitstimes.com/singapore/health/first-shipment-of-novavax-covid-19-has-arrived-in-singapore
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US trade deficit hits highest on record as imports soar
https://www.businesstimes.com.sg/government-economy/us-trade-deficit-hits-highest-on-record-as-imports-soar
Labour talks at US West Coast ports could further stress supply chains
https://www.businesstimes.com.sg/global-enterprise/labour-talks-at-us-west-coast-ports-could-further-stress-supply-chains
US businesses struggle to hire in April amid low unemployment
https://www.businesstimes.com.sg/government-economy/us-businesses-struggle-to-hire-in-april-amid-low-unemployment
US Fed’s half-point hike biggest since 2000; Powell signals more to come in inflation battle
https://www.businesstimes.com.sg/government-economy/us-feds-half-point-hike-biggest-since-2000-powell-signals-more-to-come-in
https://www.straitstimes.com/business/economy/us-fed-hikes-rates-by-half-percentage-point-biggest-jump-in-22-years
US service sector slows; input prices measure at record high – ISM survey
https://www.businesstimes.com.sg/government-economy/us-service-sector-slows-input-prices-measure-at-record-high-ism-survey
Bitcoin pierces US$40,000 after Fed quells talk of jumbo rate hikes
https://www.straitstimes.com/business/companies-markets/bitcoin-pierces-us40000-after-fed-quells-talk-of-jumbo-rate-hikes
UK office lending rose 48% last year after 2020’s Covid crunch
https://www.businesstimes.com.sg/real-estate/uk-office-lending-rose-48-last-year-after-2020s-covid-crunch
Housing starts in Canada’s large cities lag population growth
https://www.businesstimes.com.sg/real-estate/housing-starts-in-canadas-large-cities-lag-population-growth
EU plans phased oil ban on Russia, also targeting more banks
https://www.straitstimes.com/world/eu-chief-proposes-russian-oil-ban-over-war-in-ukraine-sanctions-three-russian-state-owned-broadcasters
Brazil raises interest rates by 100 bps, flags smaller increase ahead
https://www.businesstimes.com.sg/government-economy/brazil-raises-interest-rates-by-100-bps-flags-smaller-increase-ahead
China services activity plunges to lowest since early 2020
https://www.straitstimes.com/business/economy/china-services-activity-plunges-to-lowest-since-early-2020
Why easing policies might not revive China’s property market any time soon
https://www.straitstimes.com/asia/east-asia/why-easing-policies-might-not-revive-chinas-property-market-any-time-soon
Hong Kong plunges below Singapore in world press freedom ranking
https://www.businesstimes.com.sg/government-economy/hong-kong-plunges-below-singapore-in-world-press-freedom-ranking
Hong Kong emerges as hub for Chinese firms seeking ESG loans
https://www.businesstimes.com.sg/government-economy/hong-kong-emerges-as-hub-for-chinese-firms-seeking-esg-loans
As travellers return, Bali struggles with Covid-19 pandemic legacy
https://www.straitstimes.com/asia/se-asia/as-travellers-return-bali-struggles-with-pandemic-legacy