Singapore investor sentiment index in Q2 plunged 7%
Singapore economy might suffer from external events, having caused a fall in investor sentiment in Q2 this year, said leading financial firm ING.ING’s Investor Sentiment Index for Singapore in Q2 dropped seven percent to 140 from the previous quarter, against a backdrop of growing optimism...
Continue Reading • 16 Jul 2010
Australand establishes A$1.3b debt facility
CapitaLand subsidiary Australand has arranged an unsecured syndicated bank debt facility worth A$1.3-billion (S$1.57 billion).Kieran Pryke, chief financial officer of Australand, said: “We are pleased to have achieved this first step in moving to a totally unsecured borrowing...
Continue Reading • 16 Jul 2010
FEO acquires 31 Parbury Avenue for $55m
Property developer Far East Organisation (FEO) has signed a deal to purchase 31 Parbury Avenue off Upper East Coast Road for $55 million, which translates to around $898 psf of land area.The 61,240-sq-ft freehold site currently houses a two-storey bungalow, which can be redeveloped into eight...
Continue Reading • 16 Jul 2010
US mortgage applications drop
US mortgage applications for home purchases dropped to a 13-and-a-half-year low last week, said Mortgage Bankers Association (MBA), a further sign of decline in the home loan market since the federal tax credit ended in April.There have been concerns arising for months that the incentive was...
Continue Reading • 15 Jul 2010
Amendments to Land Strata Titles Act takes effect
Changes to the Land Strata Titles Act will take effect starting today, following the enactment of the Amendment Act in Parliament on May 18.The amendments aim to provide more clarity to the process of en bloc sales and balance property owners’ interest.One of the amendments is the...
Continue Reading • 15 Jul 2010
Singaporean banks remain stable
Ratings firm Standard & Poor's (S&P) said banks in Singapore continue to be stable as it affirmed its ratings for UOB, OCBC and DBS.S&P gave DBS an AA- long-term rating with a stable outlook and an A-1+ short-term rating, whilst OCBC and UOB both received an A+ long term ratings with...
Continue Reading • 15 Jul 2010
Singapore set to become world's fastest-growing economy in 2010
Economists said Singapore is set to become this year’s fastest-growing economy in the world, following the government’s upgrade of the annual growth forecast to 13-15 percent.The new estimate, up from the previous prediction of a 7.0-9.0 percent expansion, exceeds forecasts of about...
Continue Reading • 15 Jul 2010
GIC reaps gains from Sunway divestment
The Government of Singapore Investment Corp (GIC) has reaped gains from the Sunway Real Estate Investment Trust (REIT)’s recent listing in Malaysia.GIC divested its stakes in the Sunway Resort Hotel portfolio and Sunway Pyramid Shopping Mall to the REIT, reaping returns that exceeded its...
Continue Reading • 15 Jul 2010
UK mortgage lenders still face hurdles
Mortgage lenders in the UK still face tough challenges due to economic uncertainty, as well as tougher capital requirements that will continue to weigh on vulnerable companies, while stronger players are taking advantage by making more acquisitions, said Moody's Investor Service.Higher funding...
Continue Reading • 14 Jul 2010
Affluent Singaporeans are cautious
Affluent Singaporeans are more cautious about investments than their Asian counterparts. In spite of this, over 50 percent of affluent Singaporeans still managed to increase their net worth in the last two quarters, according to the latest results of the HSBC Affluent Asian Tracker survey.The...
Continue Reading • 14 Jul 2010
Singapore growth forecast revised to 13-15%
The Singapore government has upgraded its economic growth forecast for this year to 13-15 percent, exceeding estimates of about 10 percent growth for regional powerhouse China.The sharp upgrade from the previous estimate of 7.0 percent to 9.0 percent growth in gross domestic product (GDP) was due...
Continue Reading • 14 Jul 2010
Australian home loans on the rise
The number of mortgage loans in Australia has marked its first increase in eight months, as buyers looked beyond higher interest rates to wade back into the market.According to Australian Bureau of Statistics (ABS), the number of home loan applications increased 1.9 percent last month, following...
Continue Reading • 13 Jul 2010
IMF chief warns of possible economic shocks for Asia
The Chief of the International Monetary Fund (IMF) said Asian policymakers must brace for possible economic shocks, given risks to the global economy like the eurozone debt crisis.Asia also faces policy challenges, like managing the sharp rebound in capital inflows, as well as risks related to...
Continue Reading • 13 Jul 2010
Asia's growth remains intact, say analysts
The growth in Asia is still intact, in spite of excess liquidity in China and inflation risks in India, according to analysts.Analysts also said that Asian stocks are still fairly valued for now, and they do not see a main threat from growing capital inflows on key equity investors.Asian markets...
Continue Reading • 13 Jul 2010
Singapore stocks open higher
Singapore shares opened higher today, with the Straits Times Index up 0.30 percent or 8.72 points, at 2,934.04 in early trade.Around 149.6 million shares were sold, with gainers beating losers 94 to 28.
Continue Reading • 13 Jul 2010
BBR to purchase freehold land
BBR Holdings intends to buy a parcel of freehold land for S$86 million at Simon Lane, located close to Serangoon Gardens.The mainboard-listed company said it plans to develop a low-rise condominium project on the site, which currently houses Goodrich Park Condominium.Under the URA 2008 Master...
Continue Reading • 13 Jul 2010
Low US mortgage rates fail to lure new loans
Mortgage rates in the US hit a 50-year low last week, but it has failed to produce a series of refinancing activity and loan origination that some analysts had predicted.The average 30-year fixed-rate mortgage dropped to 4.57 percent last week, the lowest record since the government-owned...
Continue Reading • 12 Jul 2010
Shanghai banks restart third home loans
Several banks in Shanghai have resumed offering loans for third home purchases despite the central government’s decision to ban home loan applications for third home purchases.However, the interest rates being charged for third home loans seem to be very high.The Shanghai branch of...
Continue Reading • 9 Jul 2010
CMMT looking to raise 852m ringgit in its IPO
CapitaMalls Malaysia Trust (CMMT), a subsidiary of CapitaMalls Asia, is raising around 852 million ringgit (US$267 million) in its initial public offering (IPO).The company has fixed its final price for cornerstone and institutional investors at one ringgit per share, while the final retail price...
Continue Reading • 9 Jul 2010
Frasers Property hopes smaller units will increase demand
Singapore-based Frasers Property Group hopes that the inclusion of more, smaller apartments will boost demand for its $2-billion Sydney residential property development, which recently received the official green light.Stanley Quek, managing director of Frasers Property Australia, said one-third...
Continue Reading • 9 Jul 2010