Archive | October 31, 2007

Domestic cost factors will add to CPI

Rising wages, rents, car prices, GST hike will have an impact (SINGAPORE) Even with rising oil and food prices, imported inflation will remain muted in 2008, according to the Monetary Authority of Singapore (MAS). But various domestic factors will impact on the consumer price index (CPI), it says. Wage pressures, for one, will persist in […]

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Economy may take breather in 2008 with 4-6% growth

Oil prices and financial volatility are concerns but other drivers of growth still intact, says MAS (SINGAPORE) After four years of robust above-trend growth, Singapore faces a rather ‘more uncertain’ outlook next year, says the Monetary Authority of Singapore (MAS), citing high oil prices and the chances of further bouts of financial volatility. And as […]

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Rising inflation a major risk in emerging markets: economist

Currencies, property, stocks may become more attractive than debt for investors (SINGAPORE) Rising price inflation is fast becoming a major risk in emerging markets around the world due to surging food, oil and asset prices, according to a senior economist. For investors, the inflationary pressures building up in these countries and the likely response of […]

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URA property auction attracts $37m of bids

Bidders included smaller developers, contractors and engineering firms THE mood continued to be buoyant at two property auctions yesterday held by the Urban Redevelopment Authority (URA) and DTZ Debenham Tie Leung. The URA auctioned 12 sub-divided landed housing plots near Sembawang Beach which can be developed into a total of 57 landed homes. The auction […]

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HORIZON TOWERS SAGA – Majority owner raises fresh objections before STB

(SINGAPORE) If there’s one thing that has characterised the Horizon Towers saga, it’s the number of twists and turns that have emerged – and yesterday’s hearing before the Strata Titles Board (STB) was no exception. The session marked the start of the resumption of a previous hearing, which had stalled on Aug 3 when STB […]

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CapitaMall to raise $500m in share sale

CAPITAMALL Trust, Singapore’s largest real estate investment trust (Reit), may raise as much as $500 million in a share sale to pay debt and fund acquisitions. CapitaMall will sell as many as 137.7 million new shares to institutional investors at between $3.63 and $3.70 apiece, it said in a statement late on Monday, representing a […]

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Analysts see no property bubble

They’re mum on whether it’s a good time to buy, but agree S’pore fundamentals are pretty robust. PROPERTY: boom or bust? This was the intriguing question to which a capacity turnout of about 170 investors recently sought answers, at a dinner hosted by financial advisory firm ipac. The good news is that the experts at […]

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An age of market resilience?

BIOLOGISTS believe that diversity increases stability and resilience in an ecosystem – a complex system where participants go about looking out for their own interest with the ultimate goal of surviving and thriving. What is true of a biological ecosystem may also hold good for the financial system, which, too, is complex. In which case, […]

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Using HDB equity to pay for annuities

The median CPF member holds three times more in HDB housing equity than CPF cash holdings A NEW scheme making annuities compulsory for Central Provident Fund (CPF) members has been greeted quite negatively by the public. The scheme involves setting aside a small portion of the Minimum Sum to buy the annuity. When the individual […]

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Acer Building in Jurong for sale

ACER Computer International is selling its building at International Business Park in Jurong East. The property is said to be worth about $75-80 million, or $337 to $360 psf of existing net lettable area (NLA). The property, a high- tech business park development, was completed about 10 years ago on a site leased from JTC […]

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LATEST US DATA – Consumer confidence falls in Oct to lowest in 2 years

Slide due to concerns of weakening business conditions and impact on jobs (NEW YORK) A key barometer of US consumer sentiment dropped for the third month in a row, to its lowest level in two years, on growing concerns about weakening business conditions and the impact that could have on the job market as well […]

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UBS hit by bigger than expected loss

First quarterly loss in 5 years, investment bank unlikely to break even in Q4 (ZURICH) UBS AG reported a higher-than-expected third-quarter loss after hefty writedowns on sub-primerelated investments, but said it expects to turn in a group profit in the last quarter. The Swiss bank, which took charges of 4.2 billion Swiss francs (S$5.22 billion) […]

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A ‘reluctant’ Fed may cut rates at ongoing meeting after all

If it disappoints traders, it risks upsetting markets and hurting economy (WASHINGTON) US Federal Reserve chairman Ben Bernanke and his colleagues sound as if they would prefer to just say no to an interest-rate cut this week. The financial markets may not let them. Policy-makers from Mr Bernanke on down have avoided signalling they want […]

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US sub-prime losses slow BOC Q3 net growth

(SHANGHAI) Bank of China Ltd (BOC), the nation’s third-largest bank, reported third-quarter profit growth that trailed rivals as losses related to US sub-prime mortgages dented earnings. Net income climbed to 15.9 billion yuan (S$3.1 billion), or 0.06 yuan a share, from 13 billion yuan, or 0.05 yuan a year earlier, the Beijing-based bank said in […]

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No certainty of Fed rate cut this week

(TOKYO) A Federal Reserve interest rate cut this week is no sure thing and officials are not seriously considering a half-point reduction in overnight rates, The Wall Street Journal reported yesterday without citing sources. The article by Greg Ip, the Journal’s Fed watcher who is known for sometimes reflecting the views of senior central bankers, […]

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Horizon Towers sale: Battle resumes today at strata board hearing

Two-week session to give final word on en bloc sale application (SINGAPORE) The Horizon Towers saga goes back on the boil today when the majority owners’ application for a collective sale is again heard by the Strata Titles Board (STB). The hearing, scheduled for two weeks, will be the final word on whether the en […]

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PM Lee pledges further action on property if necessary

He says Friday’s measure will inject some market reality (SINGAPORE) Prime Minister Lee Hsien Loong yesterday said the government will continue to monitor property market trends closely and take further action if necessary. His remarks come shortly after Friday evening’s announcement on the scrapping of the deferred payment scheme for property purchases, which Mr Lee […]

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Five properties put up for en bloc sale

TENDERS for collective sales continue to be launched. The latest offerings include Dunearn Gardens near the Newton/ Scotts roads area, The Village in Pasir Panjang, and Riviera Point along River Valley Road. CB Richard Ellis, which is marketing Dunearn Gardens, says the guide price for the 95,443 sq ft freehold site, is $578.5 million, which […]

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Restoring a genuine property market

PROPERTY stocks were sent reeling yesterday following the government’s announcement to discourage speculative buying in the real estate market. In contrast, bank stocks rose. The divergence in stock performance between the two market sectors comes down to this: what is bad news for speculators may prove to be good news for banks. The scrapping of […]

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Property shares take a beating

Developers with inventory in prime districts may face pricing pressure PROPERTY analysts were still busy yesterday predicting how the market will be affected by the end of the deferred payment scheme (DPS) as property shares received their expected drubbing when trading opened. A report by OCBC Investment Research forecast tough times for the residential sector […]

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Q4 distributable income for Suntec Reit up 22%

SUNTEC Reit has reported fourth-quarter income available for distribution of $30.4 million, an increase of 22.2 per cent from $24.8 million a year ago. For the same July 1-Sept 30 period, Suntec Reit recorded gross revenue of $51.1 million, an increase of 13.7 per cent year-on-year. Net property income was up 12 per cent up […]

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Indonesian firm to list retail Reit on SGX

Venture with M’sian firm to have 7 malls worth US$250m INDONESIA’S eighth largest real estate developer, PT Perdana Gapuraprima, part of the Gapuraprima Group, is looking to list a retail real estate investment trust (Reit) on the Singapore Exchange in early 2008. Speaking at a press conference here yesterday, president director Rudy Margono said that […]

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HK wage rise expected to top 4% next year

Recent civil service pay hike puts pressure on bosses IN HONG KONG HONG Kong salaries are tipped to rise by 4 per cent next year as the city benefits from robust economic growth and rising consumer confidence. According to a joint survey by the Hong Kong People Management Association and Hong Kong Baptist University, workers […]

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