Singapore Economy

Singapore must prepare for economic slowdown: PM Lee

With the global economy facing cyclical headwinds, Prime Minister Lee Hsien Loong has warned that Singapore must brace itself to handle a possible downturn. At a dinner organised by the labour movement on Monday, he spoke of how the United States - the world's largest economy - was soft, while Europe was in a stagnant state and China was experiencing a slowdown of its own.

Singapore Real Estate

Property price drop will only have a small impact on GDP growth: Nomura

A continued softening in Singapore property prices would only have a relatively small impact on GDP growth, said Nomura in a report published on Friday. "More formally, a 10 per cent decline in the real private residential property price index (PRPPI) growth leads to a cumulative 0.6 percentage point drop in real GDP growth. The impact is also relatively short-lived, showing up with a three to four-quarter lag before dissipating quickly within six quarters," said Nomura.

Good Class Bungalow deals in Q3 down from previous quarter

Nine bungalows in Good Class Bungalow (GCB) areas were transacted at a total of nearly S$177 million in the third quarter, down from 11 deals worth S$282 million in the second. The Q3 showing was, however, ahead of the seven deals that closed for a total S$167 million in the third quarter of last year.

Companies' Brief

Viva Industrial Trust posts 2.4% decline in Q3 DPS

Viva Industrial Trust (VIT) on Tuesday reported a 2.4 per cent decline in distribution per stapled security (DPS) for the third quarter ended Sept 30 to 1.647 cents. This was attributable to an enlarged DPS base following the issuance of 80.3 million new stapled securities under the recent placement exercise completed in June to partially fund the asset enhancement initiative at Technopark@Chai Chee (TPCC).

Oxley offers up to S$125m retail bonds in maiden issue

Homegrown developer Oxley Holdings has launched its first retail bond offering to raise up to S$125 million. These four-year bonds due 2019 will be issued by the group's wholly owned unit Oxley MTN Pte Ltd and guaranteed by the group.

Frasers Hospitality to launch Modena brand in Bangkok

Frasers Hospitality, a member of Frasers Centrepoint, on Monday said it will be introducing its serviced residence brand, Modena by Fraser, to Thailand with the opening of Modena by Fraser Bangkok in 2016.

Timely forum on sustainable development

The haze problem is a stark reminder that complex, long-term environmental issues cannot be solved by  any one party alone. A forum to be held next week aims to spark a much-needed discussion among government officials, business leaders and the civil society on how to tackle such problems together.

Global Economy & Global Real Estate

China malls closing despite data showing retail sales rebound

Supply glut still a hurdle to China property rebound

Japan's Seibu eyes Tokyo hotel redevelopment project

Student dorms drawing billionaires have record sales in UK

Buildings for a happier, healthier and more productive life

China's Bid to Prop Up Property Investment Challenged Amid Glut