Managing unpredictable property cycles
Singapore’s property cycles are hard to foresee but the government will try every possible way to minimize the changing patterns in the real state market, said Finance Minister Tharman Shanmugaratnam.“We will keep our eyes on the ball and use every tool at our disposal in a calibrated...
Continue Reading • 11 Nov 2009
HLF reduces rates for HDB home loans
Hong Leong Finance (HLF) has reduced its rates for HDB home loans in a bid to compete better in an environment of low interest rates. However, it appears that some banks are even quicker on the draw.HLF revealed the previous day that its latest rate for HDB home loans are down by 0.50...
Continue Reading • 10 Nov 2009
Central Bank wary of property market speculations
The central bank of Singapore warned on Monday that it may need more measures to control the risk of renewed property market speculations, which is being driven by prospects of an economic recovery and low borrowing costs."As Singapore emerges from recession and with the market...
Continue Reading • 10 Nov 2009
Singapore works to calm property fever
The Singapore government gave a clear sign yesterday that it plans to keep private homes affordable, by declaring its land sales programme intended for the first half of 2010 at an earlier time.With the introduction of 10 new residential sites through the reserve and confirmed lists, developers...
Continue Reading • 9 Nov 2009
Parkway Life REIT’s DPU up 12.1% in Q3
Parkway Life, a Singapore-listed Real Estate Investment Trust, reported that its Q3 distribution per unit (DPU) hit 1.91 cents, 12.1 percent higher than the previous year.Its net property income for the three months ended September also increased by 23.3 percent to S$15.4 million.According to...
Continue Reading • 6 Nov 2009
Standard Chartered’s performance overtakes HSBC's
Standard Chartered Plc, the United Kingdom’s third largest bank in terms of market value, plans to conduct business almost exclusively in Asia as well as in emerging markets. Executives who dare to go away from this strategy risks the fury of Mike Rees, the CEO for Corporate...
Continue Reading • 5 Nov 2009
Singapore’s economy continues to stabilize
Singapore’s economy is likely to continue recovering from the global recession and is not expected to have another plunge in the near future, revealed Prime Minister Lee Hsien Loong yesterday.But a dramatic upturn is not expected, as the country’s growth still depends on the...
Continue Reading • 5 Nov 2009
HDB home loan arrears drops
In spite of the global recession, the number of arrears of HDB home loans declined to 30,770 in September 2009 from 33,670 during the same month in 2008. The drop transpired after the Housing Board launched a raft of measures at the start of the fiscal crisis to assist home owners who are likely...
Continue Reading • 4 Nov 2009
Saizen REIT discloses defaults on loan
Saizen REIT, a Singapore-listed property trust, said Tuesday it had defaulted on a commercial-backed securities loan amounting to 7.253 billion yen."Maturity default” was not expected to affect the ability of Saizen REIT to operate as a going concern nor weaken the company’s...
Continue Reading • 4 Nov 2009
Allgreen’s Net Profit Climbs to S$74m in Q3
Allgreen Properties, a mainboard-listed developer revealed its net earnings of $74 million in the third quarter. The amount is more than double the company’s net profit from the previous year. The revenue of the developer for three months that ended in September increased by 159 percent to...
Continue Reading • 3 Nov 2009
HSBC to launch equity-linked home loan
Home buyers can now place their investment on the stock market as they dive into the resurgent property market.For the first time in Singapore, HSBC will be launching an equity-linked home loan package today - one that will also offer cash rebates to all its customers.The package will provide all...
Continue Reading • 3 Nov 2009
Singapore ends 3-day losses, shares close 0.71% higher
The three-day incurred losses of Singapore ended as shares closed 0.71 percent higher on Friday, after Wall Street rebounded on news that the economy of the United States posted its highest growth in two years, said dealers.On a volume of 1.78 billion shares equivalent to S$1.66 billion, the...
Continue Reading • 2 Nov 2009
Singapore organises new council to promote green buildings
Singapore has organised a new council to accelerate the country’s development of 'green' buildings.The Singapore Green Building Council is designed to enhance cooperation between public and private sectors in Singapore and drive the construction and building industries towards environmental...
Continue Reading • 2 Nov 2009
Government could release additional office sites in 2010
The Singapore government could release up to three office sites for sale as early as the first half of 2010, as office rents are beginning to stabilise, says David Lawrence, CEO of Wheelock Properties (Singapore), based on his experience with the Wheelock Place office tower. “Look at the...
Continue Reading • 2 Nov 2009
CapitaLand obtains approval to list CapitaMalls Asia
CapitaLand gained the approval of its shareholders to list CapitaMalls Asia, its integrated shopping mall business, paving the way for its listing in the Singapore Exchange before the year ends.The portfolio of the new units will include 86 retail properties priced at S$20.3 billion situated...
Continue Reading • 2 Nov 2009
Far East Organisation introduces new trend
Property developer Far East Organisation is investing in local culture to ensure the growth of its new hospitality brand.Through its innovative concept- Village Hotels & Residences, Far East aims to offer visitors and tourists a distinct taste of the local culture in the nearby communities....
Continue Reading • 29 Oct 2009
CapitaLand’s Profit Drops 33% in the Third-Quarter
CapitaLand Ltd., the biggest developer in Southeast Asia, said its third-quarter revenue dropped 33 percent from the previous year.Net income in the third quarter fell to $201 million ($281.3 million) from last year’s S$419.4 million, according to a statement released by Singapore stock...
Continue Reading • 28 Oct 2009
CDL's profit jumps to $100m in Q4
The City Developments Limited (CDL) said the previous day that it anticipates to continue to be profitable this 2009, having recorded $100 million net earnings in the fourth quarter of 2008.With revenue easing to 5.2 percent to $2.95 billion, the full-year net earnings of CDL slide by 19.9...
Continue Reading • 27 Oct 2009
CDL backs out on SKorea’s project
The City Developments Ltd (CDL) pulled back from a commercial and hotel project in Incheon, South Korea, said CDL Executive Chairman Kwek Leng Beng.Under a memorandum of agreement in 2007 with DC Chemical Company, CDL was to raise up to US$300 million into a project in South Korea.However, Mr....
Continue Reading • 27 Oct 2009
Minister Mah: Government has limitations
National Development Minister Mah Bow Tan said yesterday, “There are limits to what the Government can and should do,” telling developers about government’s limitation to guarantee the smooth sailing and the long-term stability in the property market.“For instance, we...
Continue Reading • 27 Oct 2009