Singapore Real Estate / Built Environment
Hong Leong-led group to launch Lentor Central Residences; prices start at S$975,000
Hong Leong Holdings, GuocoLand and CSC Land Group will start previews for their Lentor project, Lentor Central Residences, on Friday (Feb 21), with prices starting at S$975,000, or S$2,105 per square foot (psf).
https://www.zaobao.com.sg/realtime/singapore/story20250219-5899716
Income tax concessions, GST remission for S-Reits extended for 5 years
Income tax concessions as well as goods and services tax (GST) remission for Singapore-listed real estate investment trusts (S-Reits) will be extended for five more years, as part of tax changes announced in Budget 2025 on Tuesday (Feb 18).
Singapore News
How is Budget 2025 preparing Singapore for an uncertain world?
In the lead-up to this year’s national Budget speech, delivered by Prime Minister Lawrence Wong on Tuesday (Feb 18), much of the public conversation was focused on a familiar theme: The “goodies”. After all, this was Mr Wong’s first Budget as both Prime Minister and Finance Minister, it comes in the year of Singapore’s 60th anniversary since independence, and it is, quite likely, the final Budget before the next general election, widely expected in the first half of this year.
Budget 2025 will ease business costs but challenges remain, say firms and trade associations
Firms and business associations that CNA spoke to largely welcomed measures to cushion rising costs, but also raised concerns about how the effects may be limited in some instances.
Not all SMEs may benefit from Budget 2025’s business support measures: companies
While Budget 2025 features many business support measures, most seem geared towards larger enterprises, several small and medium-sized enterprises (SMEs) told The Business Times.
Polling district changes for 12 constituencies in latest update ahead of GE2025
Changes have recently been made to polling districts in 12 constituencies, signalling that the work of the Electoral Boundaries Review Committee (EBRC) is under way.
Business News
HSBC expects $2.4b revamp cost over next two years
HSBC Holdings expects US$1.8 billion (S$2.4 billion) in costs over the next two years as it embarks on a global restructuring programme that has seen the lender shutter some of its businesses and slash management ranks.
https://www.zaobao.com.sg/realtime/singapore/story20250219-5900694
SingPost to lay off 45 employees ‘in the coming months’
Singapore Post (SingPost) will lay off 45 employees “in the coming months” in a move to restructure the company, it said in a statement on Wednesday (Feb 19).
https://www.businesstimes.com.sg/companies-markets/singpost-lay-45-employees-coming-months
https://www.zaobao.com.sg/realtime/singapore/story20250219-5902387
UOB proposes special dividend, share buyback programme as it unveils long-awaited capital return plans
UOB’s board has announced a S$3 billion package to distribute surplus capital over the next three years, as it aims to bring down excess capital. The lender is proposing a special dividend of S$0.50 per share – paying out S$800 million of UOB’s surplus capital – over two tranches in 2025.
https://www.channelnewsasia.com/business/singapore-uob-q4-net-profit-rise-capital-return-4945931
Global Economy & Real Estate
Fed rate cuts on hold until US inflation improves, minutes show
US federal mortgage insurer to lay off about half its workforce: sources
US dollar, yen advance as risk-taking eases with more Trump tariffs, Russia talks
Trump tariff worries keep gold near record high level
China’s new home prices stagnate in January as demand struggles
https://www.businesstimes.com.sg/property/chinas-new-home-prices-stagnate-january-demand-struggles
China to welcome foreign investment in more sectors of economy
Trump’s proposed 25% tariffs would ‘spare China’ but hurt its neighbours: analysts
Hong Kong budget: can Paul Chan make needed cuts without angering the public?
Hong Kong to tighten union rules to ‘protect national security’
Hong Kong banks face rising risks amid prolonged property slump, Moody’s warns
Henderson offers 63 flats in Eight Southpark at discount amid warming Hong Kong market
Indonesia central bank holds rates as expected, pausing easing cycle
Thailand to curb short selling, high-speed trades amid sell-off
Thai industrial sentiment hits 10-month high, but trade risks a concern
Vietnam parliament approves US$8 billion rail link to China
https://www.channelnewsasia.com/asia/vietnam-china-us8-billion-rail-link-approve-4946001
Vietnam raises 2025 GDP growth target to at least 8%, approves policies for major projects
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