Singapore is third most innovative nation
By Cheryl Tay: Singapore is once again ranked third among 141 economies in the world for its innovation capabilities and results, according to the latest Global Innovation Index (GII). Jointly released by the United Nations’ World Intellectual Property Organisation (WIPO) and business...
Continue Reading • 4 Jul 2012
UK housing market sagging
By Romesh Navaratnarajah: UK mortgage approvals fell in May, while the construction sector declined at its fastest pace in two-and-a-half years during the month of June, signifying a slowdown in the housing sector. According to the Bank of England, lenders granted 51,098 mortgages in May from...
Continue Reading • 4 Jul 2012
Australia's competitive mortgage market spurs refinancing
By Romesh Navaratnarajah: The number of Aussie borrowers refinancing their mortgages rose significantly in June, amid a decline in total loan volume and value, according to mortgage broker AFG.Loans arranged by AFG fell to 6,690 from 7,635 in May. With homeowners taking advantage of lower...
Continue Reading • 3 Jul 2012
US investor groups oppose mortgage fixing
By Romesh Navaratnarajah: Several major mortgage investors in the US are opposing a plan by a few California local governments to forcibly buy distressed mortgages to keep struggling homeowners from being evicted. Eighteen investment trade groups, including the Association of Mortgage Investors,...
Continue Reading • 2 Jul 2012
Credo Real Estate celebrates 10 years in business
By Romesh Navaratnarajah: Credo Real Estate celebrated its 10th anniversary last Wednesday, hosting a cocktail reception attended by the who’s who in the industry including National Development Minister Khaw Boon Wan. Karamjit Singh, Managing Director of Credo (pictured) said:...
Continue Reading • 2 Jul 2012
Singapore looking to become jewel in the tropics
By Romesh Navaratnarajah: Despite Singapore’s dense population, the government has been working hard to enhance the country’s liveability standards so that it can be recognised as “one of the jewels in the tropics”, said Prime Minister Lee Hsien Loong.“Our efforts to...
Continue Reading • 2 Jul 2012
Credo marks new milestone
By Romesh Navaratnarajah:Best known for en bloc deals, Credo Real Estate has now made its foray into property fund management. Karamjit Singh, Managing Director of Credo, said the firm has entered into a joint venture (JV) with Republic Investment Management, a local fund management company not...
Continue Reading • 28 Jun 2012
Singapore's mortgage rates are lowest in Asia
By Romesh Navaratnarajah: Home buyers in Singapore are taking advantage of mortgage rates that are at an all-time low despite record-high housing prices, said a Bloomberg report. For instance, Shivram Anantharaman, a private banker at ICICI Bank Ltd, used to pay a monthly rent of S$2,650 until...
Continue Reading • 28 Jun 2012
OCBC gives negative outlook for Keppel Land
By Cheryl Tay: The outlook for Keppel Land’s office sector is expected to be negative for the remainder of FY 2012, despite the fact that the company has a favourable balance sheet of S$1.6 billion with a net gearing of 16 percent, according to OCBC Investment Research.OCBC has also...
Continue Reading • 27 Jun 2012
Singapore's inflation eases
By Romesh Navaratnarajah: Singapore’s inflation rate dipped to five percent in May, a slight drop from the 5.1 percent previously forecasted by economists.While risks have shifted from inflation towards growth, many economists remain doubtful that the central bank will ease its policy in...
Continue Reading • 26 Jun 2012
Asians need mortgage broker education, says expert
By Romesh Navaratnarajah:The role of a mortgage broker should be made clear to prospective Asian borrowers as many of them do not use brokers because they don’t understand the concept, according to Mortgage House franchisee Tom Mak. Mak’s business is based in New South Wales,...
Continue Reading • 26 Jun 2012
Mortgage forgiveness helping to prevent US foreclosures
By Romesh Navaratnarajah: A report by Amherst Securities Group has found that reducing the amount U.S. homeowners owe on their mortgages is helping to prevent foreclosures. This method has proven to be more effective than other ways, which includes postponing payments and reducing interest rates....
Continue Reading • 25 Jun 2012
CapitaLand CEO's retirement the end of an era
By Romesh Navaratnarajah: Property developer CapitaLand announced late last week that its CEO Liew Mun Leong (pictured) will give up his position on 28 June 2013. After serving two term extensions – a three-year extension from 28 June 2008 and a two-year extension from 28 June 2011, Liew...
Continue Reading • 25 Jun 2012
Keppel Land appoints Loh Chin Hua to its Board
By Romesh Navaratnarajah: Keppel Land has appointed Loh Chin Hua (pictured), Chief Financial Officer of Keppel Corporation, as a non-independent, non-executive Director on its Board as well as a member of its Audit Committee with effect from 1 July. In a statement, Choo Chiau Beng, Chairman of...
Continue Reading • 22 Jun 2012
UK mortgage lending rebounds
By Romesh Navaratnarajah: Following a decline in April, mortgage lending in the UK rose by 24 percent to £12.2 billion (S$24.35 billion) in May, according to the Council of Mortgage Lenders (CML).At the same time, the UK’s customs and tax department also reported that sales of...
Continue Reading • 22 Jun 2012
Inflation a major concern for baby-boomers: survey
By Romesh Navaratnarajah: A growing number of baby-boomers in Asia are concerned about the effects of inflation on their retirement purchasing power, according to a survey conducted by Allianz Global Investors (AGI). Two-thirds or 67 percent of boomers in Singapore, South Korea, Taiwan and Hong...
Continue Reading • 22 Jun 2012
Top Asian companies less positive on outlook: survey
By Romesh Navaratnarajah: Top companies in Asia are less optimistic about their business outlook than in the first quarter, on the back of growing pressure from the Eurozone crisis and slow growth in China, according to a Thomson Reuters/INSEAD Asia Business Sentiment Survey. Of the 177 companies...
Continue Reading • 21 Jun 2012
Singapore getting cheaper for expats in Asia
By Romesh Navaratnarajah: Singapore has slipped from sixth to eighth spot on the list of Asia’s most expensive locations for international assignees, according to research done by ECA International. Beijing overtook Singapore clinching fifth spot from eighth last year while Shanghai rose...
Continue Reading • 21 Jun 2012
Top Aussie bank puts brakes on mortgage lending
By Romesh Navaratnarajah: National Australia Bank Ltd (NAB), one of Australia’s largest lenders, has announced that it will ease off its aggressive residential mortgage lending. However, it still intends to keep growing at a faster pace than its competitors. “We are anticipating that...
Continue Reading • 21 Jun 2012
Keppel appoints former ExxonMobil (China) boss to its Board
By Romesh Navaratnarajah: Keppel Corporation Limited has announced that Tan Puay Chiang (pictured), former Chairman of ExxonMobil (China) Investment Co, has been appointed as the company’s independent director. Lee Boon Yang, Chairman of Keppel Corporation Limited, said: “His...
Continue Reading • 21 Jun 2012