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BUILDING & ENGINEERING, FINANCIAL SERVICES, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: Why Keppel could be a risky stock; DBS hires leading project finance banker in Singapore

And here’s what you need to know about Buyer Stamp Duty and Additional Buyer Stamp Duty.

From Motley Fool Singapore: With regard to the first question on risk, Keppel Corp does not have any high level of customer-concentration given that no single customer accounted for 10% or more of its total revenue in 2016. But, the company does have some form of geographical concentration risk – Singapore accounted for 65.1% of 2016’s total revenue. This risk is mitigated to a large extent by Singapore’s stable political and economic climate.

From eFinancialCareers: DBS has hired one of Singapore’s leading project finance bankers into an executive director-level role. Kelvin Wong has moved to DBS from the Singapore office of Commonwealth Bank, where he was head of Asian specialised finance. During a 16-year career, Wong has focused mainly on project-finance advisory, arranging, structuring and syndication in sectors including power, water, energy, renewables, infrastructure and telecoms, according to his online public profile.

From Aktive Learning via Yahoo!: Buyer’s Stamp Duty is tax paid on the acceptance of the Option to Purchase (OTP) or Sale and Purchase Agreements (S&P). These documents are prepared and signed when you buy or sell your property. Stamp Duty is payable on the actual price or market price, whichever is higher. The buyer is responsible for paying Buyer’s Stamp Duty. Meanwhile, Additional Buyer’s Stamp Duty (ABSD) was first introduced on 7 December 2011 to cool the residential market and was revised upwards on 12 January 2013 due to the further acceleration in the escalation of the price of residential properties. 

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