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COMMERCIAL PROPERTY, ECONOMY, TELECOM & INTERNET | Staff Reporter, Singapore
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Daily Briefing: Why rich Singapore investors are stuck; Singapore firms sell Melbourne housing project

And here's what investors should know about NetLink Trust's IPO.

From Bloomberg via Yahoo!: Keith Kueh was expecting Pacific Andes Resources Development Ltd. to pay back the company’s bonds last year so he could finance his son’s college bill and his own retirement. Now it’s 18 months after the Singapore-listed fishing company didn’t honor some obligations and he hasn’t gotten his money yet. “For investors like myself, we are not portfolio managers who are managing other people’s money,” said Kueh, a founder at a tech startup. “This is our hard-earned money.”

From PropertyGuru via Yahoo!: Singapore-based firms Lian Beng Group and KSH Holdings have jointly sold a freehold property at 596 St Kilda Road in Melbourne, Australia for AU$34 million (S$36.71 million), revealed an SGX filing on Monday (24 July). The transacted asset comprises a three-storey residential complex with 19 separately titled apartments sited on 1,803.6 sq m of land. It is in the southern precinct of St Kilda Road and benefits from two street frontages. The property was sold to an unrelated third-party by Lian Beng (St Kilda), a fully-owned subsidiary of Goldprime Realty, in which KSH Holdings and Lian Beng Group respectively hold a 20 percent and 80 percent stake.

From The Motley Fool Singapore: According to MPA estimates, fibre subscriptions, which uses NetLink NBN Trust’s network, is expected to grow at an increased growth rate of 6.5% per year between 2016 and 2021. By 2021, MPA expects fibre subscriptions to make up 100% of the wired residential subscription market. Older technologies like ADSL and HFC are expected to be phased out. The second opportunity lies with the fourth telco, TPG Telecom, which is expected to offer a mobile service in 2018. It is possible that Australian telco might eventually provide a broadband service as well. 

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