Inflation is a serious problem, or is it?
IMF’s global measure shows the rates have been relatively good in recent years IS INFLATION a problem? This is one of the key global issues at the moment. In recent years the world economy has boomed, but that boom did not trigger the type of inflation that one might normally have expected with rapid economic … Read more
China: Property tax unlikely this year
Technical, political issues need to be ironed out first, say officials, analysts China will not start to levy a general property tax in 2008, because many technical and political issues need to be worked out first, according to officials and analysts. Talk of the tax, which would replace the existing web of levies and fees … Read more
JTC to sell $1.7b of properties
Volatile capital markets cited as main reason JTC Corp has scrapped plans to divest a large chunk of its industrial property portfolio through a listed real estate investment trust (Reit). Instead, it will sell the 62 properties for $1.71 billion to Temasek-linked Mapletree Investments, which it had earlier appointed to manage the planned trust. This … Read more
Six months, still no F&N CEO
Is it a question of finding the right person or deciding on a new direction first? IT HAS been more than six months since local food and beverage giant, Fraser and Neave (F&N) has been without a full-time chief executive officer following the hasty departure of Dr Han Cheng Fong last October. Mr Lee Hsien … Read more
MAS stresses it will not regulate Islamic banking sector in S’pore
The central bank has reiterated its stance that it will not regulate the Islamic banking market here in Singapore. At a conference on Islamic Finance on Tuesday, the Monetary Authority of Singapore (MAS) instead argued that Shariah-compliance should be regulated internally as part of a bank’s good practice in governance and control. The Islamic banking … Read more
Resorts World at Sentosa awards largest contract of S$1.05b to date
Resorts World at Sentosa has awarded its largest building contract to date, worth S$1.05 billion, to a joint venture between major Japanese contractor Kajima Overseas Asia Pte. Ltd. and local player Tiong Seng Contractors (Pte) Ltd. This brings the total building contracts awarded so far to over S$2 billion. The S$6 billion integrated resort is … Read more
Resorts World award $1.05 billion contract to Kajima JV
Resorts World at Sentosa announced on Wednesday it has awarded a $1.05 billion building contract to a joint venture between Kajima Overseas Asia Pte Ltd and Tiong Seng Contractors (Pte) Ltd. The award — the biggest awarded to-date by Resorts world — marks a milestone for the $6 billion integrated resort slated for completion in … Read more
Keppel Land Q1 profit down 3.5%
Keppel Land, Singapore’s third-biggest developer by market value, posted on Wednesday a 3.5 per cent fall in quarterly net profit as the US sub-prime mortgage crisis hurt new property launches. KepLand, which derives the bulk of its income selling apartments in Asian countries including Singapore, China, Vietnam, and India, earned $60.3 million (US$44.77 million) in … Read more
Keppel Land’s Q1 profit down 3.5% on year
Mainboard-listed Keppel Land has posted a 3.5 percent drop in quarterly earnings. First quarter net profit came in at S$60.3 million, down from S$62.5 million in the same period last year. This was much lower than a Dow Jones Newswires poll estimate of S$98 million. Revenue fell by 7.6 percent on year to S$273.1 million. … Read more
Alternative real estate ripe for picking
WITH probably less than 350 completed office and industrial buildings in Singapore available for sale on a strata basis, transaction volumes have been steadily rising with more investors seeing an upside. In a White Paper, Colliers International notes that since 2006, the strata office sector saw sales transactions rise 59.1 per cent from 2005 levels … Read more
