Nomura wary on Genting Singapore
While many industry observers have changed their approach on Genting Singapore after it hit jackpot in its Q2 earnings, Nomura Securities has stayed cautious and is sticking to its guns on the IR operator.Now that more data on the casino sector has been made available, the analyst company has...
Continue Reading • 23 Aug 2010
YTL's revenue more than RM16b
Conglomerate YTL Corp Bhd has announced that its net profit for the last quarter jumped to RM118 million from RM47 million in the earlier quarter, which was driven by the consolidation of a power plant business in Singapore.The company’s revenue also climbed from RM3.5 billion in the...
Continue Reading • 20 Aug 2010
Shanghai suspends home decoration loans
Loans for home decorations have been temporarily suspended in Shanghai, as the city implemented a housing fund programme to clamp down on unscrupulous practices of some estate agencies, according to the Wenhui Daily, citing sources from the Shanghai Provident Management Centre.According to the...
Continue Reading • 20 Aug 2010
UOB sets up rich-friendly branch at MBS
United Overseas Bank (UOB) has launched its new stylish branch for rich clients at Marina Bay Sands (MBS), as part of the company’s plans to expand its business to cater to the increasing number of wealthy people in Asia.UOB’s MBS branch is aimed at customers with $1 million or more...
Continue Reading • 20 Aug 2010
Ascott REIT to acquire 28 properties
Ascott Residence Trust will acquire 28 European and Asian properties worth S$969.6 million from its parent company, The Ascott Ltd, which is a wholly-owned unit of CapitaLand, Southeast Asia’s largest property developer.The company said it would fund the purchase of 26 European and 2 Asian...
Continue Reading • 20 Aug 2010
Recommendation made for elderly-friendly estates
One of the key points of a focus group report on “Quality of Life”, which was submitted to the MND and URA is to design Singapore housing estates such that it will facilitate “ageing-in-place”, where active-ageing and growing old in a familiar environment are encouraged...
Continue Reading • 20 Aug 2010
CommercialGuru.com.sg officially launches
Singapore’s leading property site PropertyGuru.com.sg has launched CommercialGuru.com.sg, a comprehensive web portal dedicated to commercial properties in Singapore and the region, catering to the increasing demand for office, retail, and industrial space.CommercialGuru.com.sg helps...
Continue Reading • 19 Aug 2010
UK mortgage arrears improving
Figures from the Council of Mortgage Lenders showed that the number of repossessions by first-charge mortgage lenders declined in Q2 this year, with 9,400 repossessions recorded in Q2 compared to 9,800 in Q1 and 11,800 in Q2 last year.While the situation in the UK mortgage market seems to be...
Continue Reading • 19 Aug 2010
Mortgage closing costs in the US rising
Consumers in the US who are taking advantage of low interest rates in the mortgage market may find themselves paying more in the end.The costs of mortgage closing in the US has increased dramatically this year, with Texas having the second-highest average home financing fees in the country,...
Continue Reading • 18 Aug 2010
DTZ to focus on key emerging markets
DTZ Holdings, a London-listed real estate services firm is aiming to be profitable at the operating level for the current fiscal year, though uncertainties in the eurozone are a main concern, said a top executive.DTZ plans to focus on key emerging markets like India and China, as Asia leads the...
Continue Reading • 18 Aug 2010
CapitaLand sells $350m worth of 10-year bonds
CapitaLand has sold $350 million worth of 10-year, Singapore-dollar bonds at a surprisingly low price than was expected, through a debt issue that was oversubscribed by investors.The property firm had planned to sell only $150 million worth of the unsecured bonds but agreed to raise the size of...
Continue Reading • 18 Aug 2010
CDLHT eyes S$550m in acquisitions
CDL Hospitality Trusts (CDLHT) is looking for possible acquisitions in Japan, Vietnam and India with a potential fund of almost S$550 million ($403.8 million), said Vincent Yeo, CEO of CDLHT.The company, which owns five hotels in Singapore, announced that hotel rates in the country could increase...
Continue Reading • 17 Aug 2010
HK government measures weaken shares of Singapore property firms
Shares of several real estate companies in Singapore slumped yesterday on the back of growing concerns that authorities in the country would also be imposing measures similar to the Hong Kong government’s move to cool down its property prices.The Hong Kong government recently implemented a...
Continue Reading • 17 Aug 2010
MND introduces Estate Agents Bill
The Estate Agents Bill was introduced by the Ministry of National Development (MND) for a First Reading at Parliament yesterday. The new bill seeks to establish the Council for Estate Agencies (CEA) as a new statutory board to regulate the real estate agency industry.The bill will be applicable...
Continue Reading • 17 Aug 2010
US tightens mortgage lending
The US Federal Reserve announced a new rule yesterday, aimed at banning premium payments, which allowed mortgage brokers and lenders to collect more gains by charging mortgage borrowers with interest rates higher than the benchmark.Reaction to the new rule was muted, but some said the ban should...
Continue Reading • 17 Aug 2010
MGPA to develop malls in smaller Chinese cities
With international retailers planning to venture into China’s interior, and with rapid growth in its property market, property fund manager MGPA intends to develop malls in smaller cities in China.The property fund manager is also seeking to purchase offices in Japan, as values have...
Continue Reading • 17 Aug 2010
Mapletree to launch Japan property fund
Mapletree Investments, a wholly-owned property firm of Temasek Holdings, plans to launch an around 80 billion yen ($928 million) property fund in Japan this year in a bid to expand its presence in the country’s property market.With an equity portion of around 30 billion yen, the new fund...
Continue Reading • 17 Aug 2010
HK tightens mortgage rules to avert bubble
The Hong Kong government is expected to tighten mortgage rules as the government imposes intensified measures to suppress the so-called “rare” increase in housing prices.Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), said that down payment for apartments that...
Continue Reading • 16 Aug 2010
Ho Bee's net profit falls 29% in Q2
Ho Bee Investment has announced that its net profit in the second quarter fell 29 percent to $112.3 million from a year ago.Revenue also shrank 68 percent to $235.7 million, driven by lower contributions from development properties.Revenue from property development dropped 69 percent in Q2 to...
Continue Reading • 16 Aug 2010
Policies evolve to suit changing conditions
Government policies are not set in stone and have changed to suit the changing conditions, said Minister Mentor Lee Kuan Yew, highlighting that the key to the success of Singapore is the ability to adapt and fundamental values like meritocracy.“Our policies are not set in stone. We always...
Continue Reading • 16 Aug 2010