Singapore Economy

This time, it's not deflation: economists

Singapore has logged its 12th straight month of negative inflation, marking a stretch of sub-zero readings that has lasted longer than that during the global financial crisis and re-igniting debate over whether the economy is in the grips of deflation.

http://www.businesstimes.com.sg/government-economy/this-time-its-not-deflation-economists


Negative inflation seen persisting with wider output gap

With Singapore's output gap - the difference between actual and potential GDP - perceived to be wider than originally expected, ANZ economist Glenn Maguire believes the ongoing environment of negative inflation will stick around for longer.

http://www.businesstimes.com.sg/government-economy/negative-inflation-seen-persisting-with-wider-output-gap


Singapore Real Estate

Part of Eden Hall land on Nassim up for sale

Lpart of the garden at Eden Hall, the official residence of the British High Commissioner in Singapore, has been launched for sale by public tender by the British government's Foreign & Commonwealth Office. Details of the tender of land - in two adjoining freehold plots of Good-Class Bungalow (GCB) land on Nassim Road - will be announced soon, said CBRE, the sole marketing agent.

http://www.businesstimes.com.sg/real-estate/part-of-eden-hall-land-on-nassim-up-for-sale

http://www.straitstimes.com/business/property/land-around-british-high-commissioners-home-up-for-sale

http://www.channelnewsasia.com/news/business/singapore/uk-govt-to-sell-land/2286254.html


Demand for Bidadari BTO flats continues to rise

With applications due to close in less than four days, demand for new Housing and Development Board (HDB) flats at the upcoming Bidadari estate has continued to pick up. Over the weekend, there was a jump in applications, especially among second-time applicants. Analysts have said this could be due to the relatively higher price of the Bidadari flats, which may have priced some younger couples out.

http://www.channelnewsasia.com/news/singapore/demand-for-bidadari-bto/2286918.html


Jalan Besar Plaza put up for en bloc sale, with a S$390 million price tag

Jalan Besar Plaza has been put up for collective sale for an estimated sale price of S$390,000,000, real estate group Huttons announced on Monday (Nov 23). In a press release issued on Monday, Huttons said that the estimated sale price comes up to S$2,451 per square foot for the 35-year-old commercial and residential building.

http://www.channelnewsasia.com/news/singapore/jalan-besar-plaza-put-up/2285574.html


Companies' Brief

Beijing Hualian Reit could break mainboard drought

Chinese retailer Beijing Hualian Group (BHG) is looking to list its malls in a Singapore real-estate investment trust (Reit) worth S$597 million. It is looking to place out 150.1 million units under the placement tranche and public offer at S$0.80 per unit, valuing the initial public offering at S$120 million.

http://www.businesstimes.com.sg/companies-markets/beijing-hualian-reit-could-break-mainboard-drought

http://www.straitstimes.com/business/bhg-set-to-break-ipo-drought-on-sgx

http://www.channelnewsasia.com/news/business/singapore/china-retail-giant/2286084.html


Risks for S-Reits to rise in 2016, more acquisitions likely: Fitch

Risks for Singapore's real estate investment trusts (S-Reits), specifically hospitality and industrial Reits, will rise in 2016 in view of weak economic fundamentals and new supply that will be added into most sectors, said Fitch Ratings in a report on Monday. To boost earnings amid weak organic growth, Reits are likely to turn to acquisitions, said the ratings agency. It estimates that Singapore Reits have completed more than S$4.5 billion acquisitions to date in 2015, and noted that this theme is likely to continue into 2016.

http://www.businesstimes.com.sg/companies-markets/risks-for-s-reits-to-rise-in-2016-more-acquisitions-likely-fitch


Iskandar builder Astaka ends debut on Catalist at 24 S'pore cents

Malaysia-based builder Astaka Holdings, fresh from a reverse takeover of E2-Capital Holdings, capped trading on its maiden day on Singapore Exchange's Catalist at 24 Singapore cents. The counter, dubbed a "pure Iskandar play", opened at 24.5 Singapore cents on Monday with an intraday high and low of 26 and 23 Singapore cents respectively on Monday. Some 1.5 million shares worth S$371,000 were traded.

http://www.businesstimes.com.sg/companies-markets/iskandar-builder-astaka-ends-debut-on-catalist-at-24-spore-cents


Global Economy & Global Real Estate