Lew Syn Pau retires from Ascendas post
LEW Syn Pau has retired from his post as director and non-executive chairman of Ascendas Funds Management (S) Ltd (AFM). AFM is the manager of Ascendas Real Estate Investment Trust (A-Reit). In a statement released yesterday, AFM said Mr Lew’s retirement is part of the board reorganisation process. Taking over the chairmanship yesterday is AFM … Read more
CMT Q1 annualised DPU up 15%
CAPITAMALL Trust (CMT) has announced a distribution per unit (DPU) of 3.48 cents for the first quarter ended March 31. This represents, on an annualised basis, a DPU of 14 cents – 15 per cent higher than for the previous corresponding period – and a distribution yield of 4.02 per cent based on the unit … Read more
First Reit Q1 DPU increases 15.6% to 1.85 cents
HIGHER rents and contributions from new properties led healthcare-focused First Reit to a 15.8 per cent gain in first-quarter distributable income to $5.1 million. The performance lifted distribution per unit 15.6 per cent to 1.85 cents, from 1.60 cents in Q1 last year. On an annualised basis, this translates to 7.5 cents or a … Read more
Landed plots fetch 22% less at URA auction
LANDED-HOUSING sites at Sembawang were sold yesterday at prices 22 per cent lower on average than nearby plots a few months ago. Yesterday’s auction by the Urban Redevelopment Authority was for 11 plots with 99-year leasehold tenure. All were sold – for a total of $45.29 million, or $223 per sq ft (psf) on average. … Read more
Stage 3 of Circle Line set for Nov completion
CONSTRUCTION of Stage 3 of the MRT Circle Line – a 5km, five-stop section linking Bartley and Marymount – will be completed as early as November. The section, which will open for service in June next year, has entered a ‘testing and commissioning’ phase. This involves putting the system and infrastructure through tests and dry … Read more
Analysts find GIC’s views on recession too gloomy
THESE are turbulent times, but the world economy has seen worse in the past 30 years, according to economists who feel the Government of Singapore Investment Corporation’s (GIC’s) gloomy outlook is too bearish. GIC deputy chairman Tony Tan said on Monday that the world could be facing its worst recession in three decades, if policymakers … Read more
Flaw in en-bloc mediation process
IN A collective property sale, minority objectors create uncertainty, resulting in hardship for the 80 per cent majority owners, as follows: They cannot commit to a new home and property prices may rise against them; They may commit to a new home but are unable to get the sales proceeds to pay for the new … Read more
Housing slump could exceed drop of Great Depression: economist
AN INFLUENTIAL economist who long predicted the housing market bubble cautioned on Tuesday that the slump in the US housing market could cause prices to fall more than they did in the Great Depression and bailouts will be needed so millions don’t lose their homes. Yale University economist Robert Shiller, pioneer of the widely watched … Read more
Tekka Centre to close for upgrading and will re-open in late 2009
The Tekka Centre, which is located at Blk 665, Buffalo Road, will close for upgrading on 1 May 2008 till the third quarter of 2009. It will be given a makeover under the National Environment Agency’s (NEA) Hawker Centres Upgrading Programme (HUP). The market cum hawker centre was built in 1980 and has become a … Read more
China property prices set to rise further
UPWARD pressure on China’s property prices will only increase in the April-to-June period, following an 11 per cent annual rise in the first quarter, the top economic planning agency said in a report published. The National Development and Reform Commission (NDRC) said on Wednesday that the recent weakness in the country’s stock markets, coupled with … Read more
