Parkway Life REIT makes maiden investment in Japan with S$35m deal
Parkway Life REIT has bought a pharmaceutical product distributing facility in Japan’s Chiba prefecture for S$35 million. The trust says the investment is yield-accretive, with a net initial yield of 5.3 per cent. The facility, called J-REP Matsudo II, will also be used for manufacturing pharmaceutical products. The investment is Parkway Life REIT’s first overseas … Read more
Singapore Flyer officially opens
PM Lee describes ride as ‘enjoyable and spectacular’ FIREWORKS and lasers lit up the Marina Bay skyline last night as the world’s largest observation wheel was officially opened. Drumming up support: PM Lee (left) and Florian Bollen (right), chairman of Singapore Flyer, giving a resounding start to the attraction’s official opening Gracing the festivities at … Read more
Lehman CEO says worst is over, yet troubles ahead
Lehman Brothers Holdings chief executive Dick Fuld on Tuesday became the third investment bank head to strike an optimistic note about financial markets this month, saying ‘the worst is behind us.’ Some investors feared Lehman could face a bank run similar to the one that forced Bear Stearns Cos to sell itself to JPMorgan Chase … Read more
Dent in Singapore investor optimism
An ING Asia-Pacific survey shows investor sentiment dived 35% in the first quarter, the biggest fall among 13 Asian markets INVESTOR sentiment in Singapore is one of the least optimistic in Asia, a survey says. Singapore also experienced the biggest drop in investor sentiment from the fourth quarter of last year to the first quarter … Read more
US economy likely to bottom this year
HSBC exec sees sustainable rally in equity markets before year-end THE US economy is likely to bottom this year and equity markets should stage a sustainable rally before year-end, says HSBC Investments chief investment officer Leon Goldfeld. But there will be no rally until the market sees signs of an economic turnaround, he says. The … Read more
Can Asia escape a global slowdown?
While the outlook for the region remains reasonably favourable, there are downside risks THIS past weekend, at the IMF-World Bank Spring meetings, finance ministers and central bank governors from around the world met amid serious financial market turmoil which began in the US sub-prime market and continues to spread across asset classes and regions. Less … Read more
Hong Kong apartment rents the world’s highest: survey
Hong Kong has the world’s priciest apartment rents, with the lease for a three-bedroom unit costing more than US$9,700 ($13,170) on average a month, a survey released on Wednesday said. Asian cities, led by Hong Kong, accounted for six out of the top 10 locations that have the world’s most expensive rentals for three-bedroom apartments, … Read more
Choice Homes unit top bidder for site
A Subsidiary of NTUC Choice Homes Co-operative yesterday placed the top bid of $290.19 million or $460 psf per plot ratio (psf ppr) for a 99-year leasehold private condominium site at Lorong 2/3 Toa Payoh. The bid was about 23 per cent lower than the $601 psf per plot ratio that property giant Far East … Read more
Leedon Heights: Still home for 8 more months
En bloc firm offers Leedon Heights residents leaseback deal RESIDENTS of Leedon Heights came home to a pleasant surprise last week — the chance to stay on in their apartments until the end of January next year, instead of having to move out by June. Following appeals from residents and home-owners, the buyer of the … Read more
Raise income ceiling on HDB flats over $500k
With regard to the recent sale of Design, Build and Sell Scheme (DBSS) HDB flats in Boon Keng, I propose the Housing Board set different income limits for flats valued at more than $500,000. This makes more sense in terms of financial planning and affordability issues. There were 3,500 who balloted for 714 DBSS flats … Read more
