2009 was an easy year for investors; and now comes 2010
Investing in 2009 was very easy for some people – just invest in oversold riskier assets and wait for them to rise. However, 2010 could be a difficult time, requiring selection and market timing to get the best results.Many investors felt that the financial system would not collapse into a...
Continue Reading • 4 Jan 2010
MI-REIT downgraded to “Caa1”
The corporate family rating of MacArthurCook Industrial Real Estate Investment Trust (MI-REIT) has been downgraded by Moody’s Investors Service to “Caa1” from its previous rating of “B2.”The rating, which already has a negative outlook, could still be downgraded...
Continue Reading • 31 Dec 2009
STI surpasses analysts' expectations in H1 2009
The Singapore stock market exceeded the expectations of market watchers in the first half of 2009. The STI climbed to the present level of 2,333, a 60 percent increased from a year-to-date low of just below 1,500 early in March. This figure posted the sharpest increase in the region, partly...
Continue Reading • 31 Dec 2009
Senior Minister shows five steps to develop financial sector
The aim of Singapore to be at the head of financing infrastructure investments in Asia in the coming years is one of the five strategies that Singapore Senior Minister Goh Chok Tong revealed in the annual ceremonial dinner of the Association of Banks (ABS) held on 26 June 2009 to develop the...
Continue Reading • 31 Dec 2009
URA bids for hotel site
Urban Redevelopment Authority (URA) announced that it would start the tender process for a hotel site on New Bridge Road after receiving a $43.8 million bid from undisclosed developer. The bid reportedly matched or exceeded the minimum price asked by the Singaporean government, thereby setting...
Continue Reading • 31 Dec 2009
Negative outlook for Singapore banks
The future of the Asian banking industry and Singapore banks is negative due to an expected significant growth in non-performing loans (NPLs) in the midst of increasing corporate defaults, Moody's Investors Service reports.Deborah Schuler, group credit officer and senior vice-president for Asian...
Continue Reading • 31 Dec 2009
PAC uncovers loopholes in letting government contracts
The Public Accounts Committee (PAC) of the Singaporean Parliament released the third report, revealing that the Defence Science and Technology Agency (DSTA), the procurement agent of the Ministry of Defence (Mindef), failed to verify the debarment status of subcontractors, thus unknowingly...
Continue Reading • 31 Dec 2009
OCBC's better staff gives better service
After receiving complaints regarding sale of inapt products, OCBC Bank changed the way their staff sales handle their customers. Such changes are sending their sales and marketing staff to up to date trainings and rewriting sales documents in simpler language. Head of secured lending at OCBC,...
Continue Reading • 31 Dec 2009
US Dollar hurts Asian currencies
East meets west when Asian currencies glided down against the US dollar yesterday; the demand for emerging-market assets in Asian stocks were reduced. Russia and the International Monetary Fund’s confidence in the US Dollar were partly to blame.The Singapore dollar could have dropped as low...
Continue Reading • 31 Dec 2009
Punggol creates harmony with their foreign residents
Activities have been provided by proletariat leaders in Punggol Central, in order to help new immigrants to bond with Singaporeans. Late last year, a cricket league was handled by Pasir Ris-Punggol GRC to accommodate Indian emigrants. This was also formed because a number of Indians were...
Continue Reading • 31 Dec 2009
MI-REIT second debt extension elaborated
MacarthurCook Investment Managers (Asia) Ltd was granted their first extension last March. It was a 60-day extension for its debt facility, amounting to $220.8 million, which would have matured in April. However, yesterday, their managers declared the implementation of conditions required for the...
Continue Reading • 31 Dec 2009
Avoid high yield S-REITs
Investors are being warned not to be tempted to buy S-REITs coming from either Singapore real estate investment trusts or government bonds.In a report last week, Sai Min Chow and Tony Darwell said they have noticed the greatest mis-pricing in the industrial and retail sectors. However, the...
Continue Reading • 31 Dec 2009
Singapore top 10 most expensive cities for expats
A recent survey shows that Singapore has been included in the top 10 most expensive cities in Asia for expatriates to reside. The survey, which the ECA International has conducted, is based on a cost-of-living standard for expatriates.ECA International, a data and software solutions and employee...
Continue Reading • 31 Dec 2009
Financial institutions scramble to find replacement tenants
Financial institutions which own shadow office spaces of up to 400,000 square feet are now scrambling to find replacement tenants.In the real estate world, shadow space is loosely defined as excess office space that companies have leased. Unfortunately, due to the current global economic crisis,...
Continue Reading • 31 Dec 2009
Japan Land appoints new managing director
Japan Land, a Mainboard-listed property investment company, said last Wednesday that it has appointed Leow Tet Sin as the new managing director and member of the company’s nominating committee, effective from December 23. The recent appointment settles a conflict of interest issue that has...
Continue Reading • 31 Dec 2009
Developers still offer properties
Despite the current market outlook due to the global economic crisis, and with June school holidays forthcoming, developers from here and abroad continue to launch properties in Singapore.Projects such as the 68-unit Residences Killiney (by Hoi Hup Reralty) and 152-unit One Devonshire (by...
Continue Reading • 31 Dec 2009
Government to launch 10 sites for tender in H1 2010
The government announced that its industrial land sales programme will put 10 sites, including two on the confirmed list, up for tender in the first half of 2010.Sites on the confirmed list will be launched for tender regardless of developers' interest. The two sites on the confirmed list include...
Continue Reading • 31 Dec 2009
AustraLand lands S$347.3 deal
AustraLand, CapitaLand’s Australia-based unit, landed a deal for a public housing redevelopment project in partnership with St Hilliers. The 7.5-hectare project, which is located in Carlton, Victoria, is said to be worth about S$347.3 million (A$300 million).AustraLand said yesterday that...
Continue Reading • 31 Dec 2009
Asians mostly unfazed by downturn
The Canadian insurer Sun Life Financial has found through its survey that Asians are fairly optimistic and resilient despite the current economic downturn.The survey covered more than 7,000 respondents in 19 cities from China, Indonesia, India, the Philippines, and Hong Kong; Singapore was not...
Continue Reading • 31 Dec 2009
Asian markets ended mixed during holiday trade
The stock market in Asia ended narrowly mixed in a dwindling holiday trade last Tuesday, after Wall Street posted subdued gains.The dollar was fairly higher against the yen and euro. Australian shares led the region, its resource-heavy market powered by more solid prices for gold, oil and other...
Continue Reading • 30 Dec 2009