Singapore Real Estate

CapitaLand Drops Discussions to Buy BlackRock's Office Tower

CapitaLand Ltd., Southeast Asia’s biggest developer, said it withdrew from negotiations to buy Asia Square Tower 1 in Singapore. CapitaLand has for now ceased negotiations regarding the potential acquisition and will continue to explore opportunities that allow it to generate required returns, it said in a statement Wednesday. The developer pulled out of negotiations after disagreeing over terms of the deal, according to a person familiar with the matter, who asked not to be identified because the process is private.

http://www.bloomberg.com/news/articles/2015-11-03/capitaland-withdraws-from-talks-to-buy-singapore-office-tower

http://www.channelnewsasia.com/news/business/singapore/capitaland-pulls-out-of/2237268.html


Afro Asia Building fire: I didn't know blaze would cause victim's death, says accused

http://www.channelnewsasia.com/news/singapore/afro-asia-building-fire-i/2235618.html


Report on Jurong lift accident given to BCA

http://www.straitstimes.com/singapore/report-on-jurong-lift-accident-given-to-bca?login=true


Companies' Brief

Far East H-Trust's Q3 DPS hit by revenue dip, higher finance costs

Far East Hospitality Trust reported a 9.1 per cent year-on-year fall in third-quarter distribution per stapled security (DPS) to 1.2 Singapore cents amid softer revenues from its hotels and serviced apartments as well as higher finance expenses arising from a spike in short-term interest rates.

http://www.businesstimes.com.sg/companies-markets/far-east-h-trusts-q3-dps-hit-by-revenue-dip-higher-finance-costs


Strong rental reversion, acquisition jack up Fortune Reit Q3 DPU

Fortune Reit reported a 12 per cent rise in distribution per unit (DPU) for the third quarter ended Sept 30 from a year ago to 11.54 Hong Kong cents. This came on the back of a 12.9 per cent increase in revenue to HK$470.45 million (S$84.95 million) and a 14.7 per cent increase in net property income to HK$328.9 million, thanks to strong rental reversion across its portfolio and additional income contribution from Laguna Plaza, which was acquired in January.

http://www.businesstimes.com.sg/companies-markets/strong-rental-reversion-acquisition-jack-up-fortune-reit-q3-dpu


HDB issues S$1.2b fixed rate notes

The Housing and Development Board on Tuesday (Nov 3) issued S$1.2 billion worth of five-year fixed rate notes, which earn an interest rate of 2.1 per cent per annum. The notes are in denominations of S$250,000 and they mature on Nov 3, 2020, said HDB in a news release. The coupon for the notes is payable twice a year in arrear, HDB added.

http://www.channelnewsasia.com/news/business/singapore/hdb-issues-s-1-2b-fixed/2235716.html


Hotel association declares support for responsible paper sourcing

http://www.straitstimes.com/singapore/hotel-association-declares-support-for-responsible-paper-sourcing?login=true


Views, Reviews & Forum

Adjust property curbs to reflect how IT has changed market

In the Sept 12 report ("Additional Buyer's Stamp Duty 'can be safely removed'"), I did not call for the complete removal of stability measures ("Make some property curbs permanent" by Mr Chua Soo Chew; Thursday). I, for one, am a strong advocate of curbing speculation and hot money from overseas by applying an even tougher Seller's Stamp Duty than the one that is currently in place.

http://www.straitstimes.com/forum/letters-in-print/adjust-property-curbs-to-reflect-how-it-has-changed-market


Global Economy & Global Real Estate