ECONOMY | Staff Reporter, Singapore

Daily Briefing: Singapore's home tax hike is not a market cooling measure, says minister; Oracle boots second Singapore hub

And here are two REITs with exciting results this quarter.

From Bloomberg Finance:

Singapore’s tax increase on home purchases exceeding $1m (US$758,960) is aimed at making duties more equitable rather than imposing an additional property curb, said S. Iswaran, minister of trade and industry.

Stamp duty on the portion of a property’s price above $1m will be raised starting Tuesday to 4% from 3%, the government said in its budget Monday.

Read more here.

From Human Resources Online:

After opening Oracle’s first digital hub for Southeast Asia in Kuala Lumpur in September 2017, the software provider has opened another one in Singapore to cater to small and medium businesses (SMBs).

Aimed at enabling SMBs to reap the benefits of cloud technologies by helping mid-size firms, the hub reflects Oracle’s efforts towards better serving the local SMB market.

Located in Mapletree Business City, the hub houses Oracle’s digital sales team and will provide timely, personalised support to customers, using the latest collaboration tools for the buying experience.

Read more here.

From The Motley Fool:

The next REIT that has performed well is Frasers Logistics and Industrial Trust (SGX: BUOU), or FLT.

FLT is the first Singapore-listed REIT with an initial pure-play Australian industrial portfolio. FLT owns 61 Australian industrial real estate assets concentrated within major industrial markets in Australia, which include Melbourne, Sydney and Brisbane.

Gross revenue increased 6.9% to $42.4m whilst NPI improved 8.9% to $33.4m as compared to one year ago. Distribution per unit came in at 1.8 cents, 3.4% higher than the same period last year.

Read more here.

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