Survey ranks Singapore as best place to live for Asian expats
Singapore is the best city in the world for Asian expatriates to live in due mainly to its quality of life and low crime rate, a survey released Tuesday by ECA International showed. Sydney was rated second in the survey, with third spot shared by Melbourne and Kobe in Japan, the human resources firm said. … Read more
Hong Leong Bank eyes 10% home loans growth
It is confident of hitting target for cash-back product Hong Leong Bank is aiming for 10 per cent growth this year in its housing loans segment, which currently has about 130,000 clients. As part of its efforts, the bank yesterday introduced a cash-back home loan product which it said enables customers to save more on … Read more
China property shares cut to ‘underweight’
BNP slashes 2008 earnings growth for industry to 31% Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said. The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the … Read more
SHK results may not reflect HK property frenzy
Company holding back most project launches, analysts say An upswing in Hong Kong home sales and prices is boosting big developers but will hardly register in earnings to be reported by Sun Hung Kai Properties this week, as the firm held back on project launches. With rising wages and falling interest rates sparking one of … Read more
SHK Prop chief forced to take leave: director
Feud among Kwok brothers prompted mum to intervene, says Lee Shau-kee A BOARD member of Hong Kong property giant Sun Hung Kai Properties has confirmed that chairman Walter Kwok Ping-sheung was forced by his mother to take leave from the company, fuelling suspicion of a family rift. Speaking in Shanghai, family friend and non-executive director … Read more
US housing crisis deters first-time buyers
Greater security seen in renting as home prices fall and foreclosures surge For decades, buying a home was a key step on the path to financial security for the American middle class. Home owners could count on a fixed mortgage payment rather than rising rent, take advantage of tax breaks, and build equity as their … Read more
OCBC accepts Straits Trading bid, gains $128m
Oversea-Chinese Banking Corp said on Tuesday it will accept a bid for commodities and property firm Straits Trading, which will net it a one-time gain of about $127.5 million (US$91.73 million). OCBC, Singapore’s third largest lender, said it will sell its 6.2 per cent stake in the firm to Tecity, drawing the curtains on a … Read more
Straits Trading within Tans’ reach as Great Eastern accepts offer
With over 50% stake, Tans’ $6.70 offer will become unconditional The takeover saga involving two of Singapore’s most illustrious business families and one of its oldest companies is finally headed for a resolution. Great Eastern Holdings (GEH), which holds a 19.92 per cent stake in Straits Trading Company (STC), announced yesterday that it would accept … Read more
JTC will still provide affordable industrial space: Hng Kiang
THE JTC Corp is not deviating from its role to provide affordable factory space, said Minister for Trade and Industry Lim Hng Kiang yesterday in response to a question on whether JTC is shifting its focus with its recent plans to divest its industrial properties into a real estate investment trust (Reit). This concern was … Read more
Green developers get $20m fund
Fund will cushion cost of integrating solar panels into new Green Mark buildings DEVELOPERS of new and green buildings can now tap into a $20 million fund set up by the Government – a decision that is certain to sit well all-round as oil prices continue to surge. The fund will partly offset the cost … Read more
