Positive signs for markets in Asia
As the eurozone crisis continues to pull down regional markets, several market analysts are cautious on the prospects of equities in the short term.However, many analysts believe that a sustained bear market is not happening soon, as the global economic recovery that is still on its way may push...
Continue Reading • 31 May 2010
GSS features more malls and late night deals
The Great Singapore Sale (GSS) is back with more malls opening along Orchard Road. Retailers say business is as good, if not better than previous ones.Instead of bringing in competition, the additional malls are attracting more shoppers with their improved variety.One way to attract more shoppers...
Continue Reading • 31 May 2010
UK mortgage approvals jump in April
The number of UK home loan approvals for home purchases increased 15.5 percent on-year in April to the highest level for 2010, according to industry data. The data from the British Bankers' Association showed that the number of approved home loans for house...
Continue Reading • 27 May 2010
Asian stocks show signs of recovery
Asian stocks are showing signs of recovery, as investors purchasing weak shares at the final moment have improved confidence in Wall Street, resulting in a turnaround from initially incurred losses.There was a 0.9-percent increase in Japan's Nikkei Stock...
Continue Reading • 27 May 2010
Citibank Singapore's profits increase
Citibank Singapore has reported strong profit for the financial year of 2009.A 2.1-percent increase in net profit to a record $718.6 million from 2009 was posted by the local consumer banking arm. This came despite a six-percent drop in its interest income to $758.6...
Continue Reading • 27 May 2010
Boustead's full-year earnings tumble 28% to S$43.1m
Mainboard-listed Boustead Singapore has posted a net profit of S$43.1 million for the full year, down 28 percent from a year ago.It also reported a 15-percent on-year drop in revenue to S$516.6 million.According to Boustead, the decline in profit was largely...
Continue Reading • 27 May 2010
GIC's property arm to list logistics business in IPO
The Government of Singapore Investment Corp’s real estate arm may list its logistics business in an initial public offering (IPO), according to reports.The possible listing in Singapore will involve Japanese assets of GIC Real Estate, including ProLogis...
Continue Reading • 27 May 2010
Construction firms get $250m boost
Starting in June, several construction companies will be able to use the various schemes that the government introduced to improve productivity in the sector.The schemes are part of a $250-million Construction Productivity and Capability Fund that the National...
Continue Reading • 27 May 2010
Australia to cut mortgage securities costs
The Australian government is trying to cool down the prices of mortgage-backed securities, in an effort to reduce funding costs for smaller banks and lenders, which will lead to increased securitization market competition.While signs of recovery have returned to the securitization market since it...
Continue Reading • 26 May 2010
Malaysia's Sunway to place 1/5 of Reit IPO to investors
Malaysia’s Sunway City may place around 1/5 of its initial public offering of a real estate investment trust (Reit) to cornerstone investors, according to some sources.The sources said Malaysia’s sixth-biggest property company by market value in Malaysia...
Continue Reading • 26 May 2010
Property expert joins JLL
Jones Lang LaSalle (JLL) announced that starting in August this year, Alistair Meadows will be the new appointed head of its International Capital Group, Asia-Pacific (ICG).Mr. Meadows, a capital market specialist has 15 years of experience in international real...
Continue Reading • 26 May 2010
KSH Holdings' net profit up 28% on-year
Construction and property developer KSH Holdings has posted a net profit increase of 28 percent to S$18 million on-year.The company said that better performance was mainly attributed to an improved profit margin, as well as lower construction costs. However,...
Continue Reading • 26 May 2010
UK mortgage funding
The Council of Mortgage Lending (CML) has said that the new coalition government in the United Kingdom should look into the mortgage funding issue.Michael Coogan, director general of CML, made his comments after the publication of its gross mortgage lending data for the month of April, which...
Continue Reading • 25 May 2010
Metro's net profit up 47% in Q4
Mainboard-listed retailer Metro Holdings has announced that its net profit for the fourth quarter surged 46.5 percent to S$56 million, attributed to the increase in revenue by 15 percent to S$39.9 million.The company said the higher profit results for Q4 were mainly due to S$22.3-million gain...
Continue Reading • 25 May 2010
Property stocks remain strong despite land site releases
Property stocks stayed firm and defied market expectations, after the government announced that it will release a record supply of land parcels for private homes during the second half of the year.The FTSE ST real estate holding and development index gained one percent to close at 639.59 points...
Continue Reading • 25 May 2010
US mortgage rates continue to fall
The financial crisis in Europe is giving an unexpected turnout for American homebuyers, as international money looking for a safe haven is coming into the US, pushing domestic mortgage rates to the lowest level of the year and near to 50-year lows. The US housing market had been suffering...
Continue Reading • 24 May 2010
Real estate group introduces improved accreditation system
A real estate agency body has introduced a revamped system of accreditation, which allows members to complement the government’s newly declared mandatory licensing scheme for the industry.The Singapore Accredited Estate Agencies (SAEA) said that its improved accreditation role for estate...
Continue Reading • 24 May 2010
Opening of downtown malls hits neighbourhood shops' sales
According to the Federation of Merchants’ Associations, Singapore, neighbourhood shops are getting a double whammy these days.Less people seem to be shopping in the neighbourhood with the opening of a number of new malls and the integrated resorts. Chua Ser Keng, the president of the...
Continue Reading • 24 May 2010
More land sites for residential use
To meet the strong demand for housing, the Singapore government has lined up the release of 18 residential/commercial or residential sites under the programme for confirmed sale in the second half of 2010. This would be the largest ever release of state land for private homes. Aside from the 18...
Continue Reading • 24 May 2010
Low interest rates may overheat property market
Interbank lending rates have declined to a record low in Singapore, shrugging off concerns from some market watchers that cheap lending may overheat the country’s real estate sector.Ong Chong Tee, deputy managing director of the Monetary Authority of Singapore (MAS), said the decline in...
Continue Reading • 21 May 2010