Four firms bag Asia-Pacific logistics awards
Four home-grown companies were honoured as the finest logistics operators in the Asia-Pacific region during the yearly awards ceremony.PSA International was labelled yesterday as the best operator of container terminal, while Northport in Malaysia was awarded as the top operator of multi-purpose...
Continue Reading • 28 Dec 2009
ADB: Asia seems to be on the mend
The economies of Asian countries appear to have survived the worst of the worldwide recession, said the Asian Development Bank (ADB). However, the Asia Economic Monitor warns that the way to a total recovery is hazardous.The largest threat to progressing recovery determined by the report of ADB...
Continue Reading • 28 Dec 2009
Houses and golden mattresses
Harry Chua, Chairman & CEO at Hersing Corporation Limited, does not just sell a house to buyers, he sells mattress as well.Two months after Hersing Corporation launched the Dozz Mattress salesroom at its main office located in Toa Payoh, ERA Singapore’s holding company has its eyes on...
Continue Reading • 28 Dec 2009
Keppel Land’s net profit mounts 10.4 percent
Keppel Land reported yesterday a 10.4 percent year-on-year increase in its second quarter profits. The company said it will accelerate launches in Singapore and the region while the market picks up.According to CEO Kevin Wong during a briefing, “With improved market sentiment, we plan to...
Continue Reading • 28 Dec 2009
Keppel Land’s net profit grows in Q2
Keppel Land reported the previous day a 10.4 percent rise in its second quarter earnings. The company also stated that as the property market gets better, it will accelerate launches in the region and in Singapore.CEO Kevin Wong said at a briefing, “With improved market sentiment, we plan...
Continue Reading • 28 Dec 2009
Trevista condo’s initial phase costs $898 psf on average
NTUC Choice Homes Co-operative sets the initial phase of Trevista condo located at Toa Payoh at an average cost of $898 psf. This value is 20 percent lesser than the Centro Residences beside Ang Mo Kio Hub, which has an average price of $1,150 psf.However, Trevista’s condo units are bigger...
Continue Reading • 28 Dec 2009
Sentiment drives asset price increases in Asia
The latest asset prices rebound in Asia is not because of the loose financial conditions or the foreign capital deluge, according to the report of Cem Karacadag, an economist at Credit Suisse.Rather, ameliorating sentiment among capitalists is probably the major driving force responsible for the...
Continue Reading • 28 Dec 2009
Two premier houses to be auctioned in Singapore
As part of the non-core assets disposal plan, two good class bungalows (GCB) in Queen Astrid Park will be put into auction sale by TM Asia Life Singapore.Irinn Lee, director and auctioneer at Credo Real Estate said: “We are seeking offers in excess of $36 million, which works out to $890...
Continue Reading • 28 Dec 2009
Median non-landed sub-sale prices increase 18%
DTZ’s analysis based on caveats showed an 18.1 percent increased on the median sub-sale cost of non-landed private residential properties to $960 per square foot (psf) in Q2, from $813 psf in Q1. The increase is attributed by more higher-end property transactions in Q2 in addition to the...
Continue Reading • 28 Dec 2009
Many buyers today are going for high-priced homes
The data from property consultancy DTZ shows that the property boom is vastly spreading to the higher market as most buyers today consider pricy homes and properties.The analysis of caveats lodged indicates that during the second quarter of the year, 22 percent of total private home sales were...
Continue Reading • 28 Dec 2009
Homes worth above $1.5 million cut bigger slice of 2009’s Q2 deals
An analysis of caveats shows that in the second quarter of 2009, enhanced view in the private residential section has filtered from the mass-market to the higher levels.The proportion of caveats for private housing dealings in Q2 was about $1.5 million, more than the result in Q1’s.A study...
Continue Reading • 28 Dec 2009
MI-Reit to delay its acquisition deal
Macarthurcook Industrial Reit (MI-Reit), which plans to purchase four industrial buildings from AMP Capital Holdings, will move the date of its deal to 11 January 2010.In filings to the Singapore Exchange, MI-Reit also gave an update on its rights issue, as well as announced new names and the...
Continue Reading • 28 Dec 2009
Improve the operational efficiency of buildings to boost returns
Companies that failed to hike up revenue can protect their bottom line by cutting their costs. In the same way, property owners who are experiencing falling rents and capital value can maintain their returns by trimming on their operating costs. According to EC Harris, an asset consultancy firm,...
Continue Reading • 28 Dec 2009
Rental rates in Taipei forecasted to increase
Rental rates and housing prices in Taipei City could continue to surge, according to real-estate brokers.The latest list of Asia's most expensive places to live, which is published by Forbes magazine, showed that Taipei was ranked 16th with an average monthly rent of US$1,065 for a high-end...
Continue Reading • 28 Dec 2009
Investors receive an unexpected Christmas gift
The stock market gave investors an unexpected Christmas gift last week, sending the main US equity indexes into the long holiday weekend with a Santa Claus rally, gaining new highs for the year and reaching a winning streak for five days, as markets closed in the US early last Thursday.There is a...
Continue Reading • 28 Dec 2009
Chinese premier promises to cool down property prices
Chinese Premier Wen Jiabao said the Chinese government will cool down property prices, rest pressure for the yuan and keep inflation rates at “reasonable” levels.“Property prices have risen too quickly in some areas and we should use taxes and loan interest rates to stabilize...
Continue Reading • 28 Dec 2009
Theme park developers to focus on Asia
The global economic downturn has bankrupted some US theme parks and set grand plans for new ones in the Middle East.However, in Asia, a development boom is ongoing, as operators compete to roll out parks and add attractions to draw in the region's growing middle class.In Hong Kong, the...
Continue Reading • 28 Dec 2009
Asian REITs survive the first half of the year, but challenges still remain: CBRE
In the first half of 2009, most Asian REITs have endured the economic crisis but according to CB Richard Ellis (CBRE), challenges – from diluting gearing to increasing distributions – remain ahead.According to a property consultancy’s report released yesterday, the market...
Continue Reading • 28 Dec 2009
Foreign purchasers prefer mid-tier city-fringe residences
In Singapore, foreign purchasing of private residences increased in Q2, but has not regained full force with regard to its share in higher-priced transactions, based on DTZ’s caveats analysis. The quarter predicts a revitalisation of purchases by Indonesians, who are the leading buyers in...
Continue Reading • 28 Dec 2009
Three-Minute Periodical
Temasek Holdings removes all straight references to Singapore, as well as the government in its modernised charter - a motivation seen as an effort to support and strengthen its qualifications as an investment firm controlled exclusively by business interests.US President Barack Obama retains Ben...
Continue Reading • 28 Dec 2009