Singapore Economy

PM Lee: Fusionopolis Two to bring manufacturing to next level

Fusionopolis Two in one-north's research and development (R&D) hub will marshal and integrate all the capabilities needed to support manufacturing - a key pillar of Singapore's economy - and bring it to the next level.

http://www.businesstimes.com.sg/companies-markets/pm-lee-fusionopolis-two-to-bring-manufacturing-to-next-level

Core inflation expectations lowest in 4 years

Singapore households' core inflation expectations have dropped to their lowest levels in four years, due to sliding oil prices, weak global growth prospects, and benign domestic price pressures. Expectations for core inflation in the year ahead slid to 3.31 per cent in September - from 3.5 per cent in June - according to a quarterly report by the Singapore Management University released on Monday.

http://www.businesstimes.com.sg/government-economy/core-inflation-expectations-lowest-in-4-years

Private capital in infrastructure: Illiquid assets still a hurdle

Infrastructure investment has to become a tradable asset class in order for private capital to help bear some of the burden usually borne by governments and banks. Otherwise, the massive capital investments and long horizons needed for say, a dam, gas network, toll road or port terminal, over its extended lifetime, would prove too much for funds and insurers to bear - especially when coupled with the political risks of changing governments and tariff structures.

http://www.businesstimes.com.sg/banking-finance/private-capital-in-infrastructure-illiquid-assets-still-a-hurdle

Singapore Real Estate

Euro-Asia Apartments eyes collective sale

A collective sale tender for Euro- Asia Apartments in Serangoon Road is likely to be launched in April next year. William Gan Realty, the agent marketing the sale, said that so far, about 60 per cent of owners have agreed to proceed with the sale. Signing of the collective sale agreement is in progress, with consent from 80 per cent of the owners required before the sale can be launched.

http://www.straitstimes.com/business/property/euro-asia-apartments-eyes-collective-sale

Companies' Brief

Boost for Keppel Infrastructure Trust from acquisitions

Keppel Infrastructure Trust (KIT) posted a net profit attributable to unitholders of S$4.13 million for the second quarter ended September, against a loss of S$1.6 million a year ago. This was due to contributions from the Crystal Trust and KMC (Keppel Merlimau Cogen) acquisitions.

http://www.businesstimes.com.sg/companies-markets/boost-for-keppel-infrastructure-trust-from-acquisitions

Keppel Reit's Q3 distribution up 4.6% at S$54.4 million

Helped mainly by the better performance of three properties - Ocean Financial Centre and Bugis Junction Towers in Singapore and 8 Chifley Square in Sydney - Keppel Reit posted a 4.6 per cent year-on-year rise in distribution income to S$54.4 million for the third quarter ended Sept 30.

http://www.businesstimes.com.sg/companies-markets/keppel-reits-q3-distribution-up-46-at-s544-million

http://www.straitstimes.com/business/property/keppel-reit-lifted-by-spore-sydney-assets

Mapletree Logistics Trust Q2 DPU falls 1.1%

Mapletree Logistics Trust (MLT) posted a 1.1 per cent drop in distribution per unit (DPU) to 1.86 Singapore cents for the second quarter ended September 2015 from 1.88 Singapore cents a year ago. The lower DPU was led by higher borrowing costs, tax, management fees and absence of distribution from the divestment gain coupled with the enlarged issued unit base due to the Reit's implementation of the distribution reinvestment plan.

http://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-q2-dpu-falls-11

http://www.straitstimes.com/business/companies-markets/mlts-distribution-per-unit-falls-in-q2

Lian Beng

Lian Beng's Q1 FY2016 net profit surged 169 per cent year on year to S$32.3 million (36 per cent of our FY2016 forecast) due mainly to the recognition of property development profits. Gross profit, however, fell due to lower sales from the construction and ready-mixed concrete segments.

http://www.businesstimes.com.sg/companies-markets/brokers-take-168

Guocoleisure

We raise our FY2016-2018 forecast earnings per share by 5.9-7.6 per cent to reflect the stronger hotel operations. The new target price of S$1.26 is based on 25 per cent discount to calendar year 2016 revalued net asset valuation, or RNAV (previously 25 per cent discount to CY2015 RNAV).

http://www.businesstimes.com.sg/companies-markets/brokers-take-168

Global Economy & Global Real Estate