No major property launches expected in the next 3 months
Kuwaiti pullout from $818m deal, low top bid for Jurong West site unnerve market MAJOR residential property launches are unlikely for at least three months after the already nervous market was spooked by two sobering events this week, market analysts said. The first was the pullout of a Kuwaiti investor, Kuwait Finance House, from an … Read more
Singapore: costliest industrial spot in Asia ex-Japan
It rises 2 notches to take 12th place in the world SINGAPORE has risen two notches to become the 12th most expensive industrial location in the world. And excluding Japan, which is ranked third in the world, Singapore is the most expensive location in Asia, surpassing Hong Kong (23rd), Mumbai (26th) and Taipei (36th). Average … Read more
Swiss Bank takes up bulk of new block
EFG Bank leases 52,000 sq ft for the next 6 years, with naming rights SWISS private banking group EFG Bank has leased 52,000 square feet or two-thirds of a nine-storey office block coming up opposite Parliament House. Prestigious address: EFG Bank Building will come up opposite Parliament House. EFG Bank is taking space that’s three … Read more
Faced with crisis, the Fed innovates
Latest move different in scale and ambition from what it has attempted so far THE US Federal Reserve’s new Term Securities Lending Facility is arguably the boldest and most innovative step taken so far to clear the logjam in the credit markets since the US sub-prime crisis blew up last August. Let’s look closely at … Read more
Fed trying to buy time, say economists
Debenture spreads narrow in positive market response A central bank plan to infuse the financial system with new cash is a temporary fix for the debilitated US mortgage bond and housing markets, but not a cure. The programme announced by the Federal Reserve on Tuesday frees up money for mortgage loans and dealer bond buying … Read more
Move will help ease strains in financial markets: IMF
FED’S US$200b LIQUIDITY BOOST But it won’t cure what ails the economy, says the bank’s first deputy MD The US Federal Reserve’s decision to pump more cash into a stressed banking system will not solve US economic problems, a senior International Monetary Fund (IMF) official said on Tuesday. But the move will help ease strains … Read more
Order book swells for KSH and Lian Beng
KSH bags $121m Sentosa condo job; Lian Beng nets two deals worth $90m RIDING the continuing boom, two construction firms announced big contracts yesterday. KSH Holdings said it has won a contract worth more than $121 million for the construction of a luxury condominium, Seascape at Sentosa Cove, which is jointly owned by Ho Bee … Read more
UBS is largest private bank in Singapore, HK: study
DBS is No.6 with 5% of private banking assets in Asia ex-Japan SWISS banking giant UBS has been crowned the biggest private banking player in Singapore and Hong Kong. It manages one-sixth of the US$600 billion (S$833.7 billion) of private banking assets in Asia, excluding Japan, which are mostly parked in the two Asian wealth … Read more
KSH Holdings secures $121m luxury condo development contract
KSH Holdings has secured a S$121 million contract to construct luxury condominium development Seascape at Sentosa Cove. This project puts its order book at more than S$614 million. The contract was signed by the construction, property development and management group’s subsidiary Kim Seng Heng Engineering Construction. The deal was awarded by Seaview, a company co-owned … Read more
