Daily Briefing: Malaysian foreign minister says Malaysia-Singapore bilateral relations are "good"; Private home launches could remain healthy in Q3

And investment firm AnAn seeks legal advice amidst Russian bank's US$170.4m repayment claims.

From Yahoo! News Singapore

Malaysian foreign minister Datuk Saifuddin Abdullah said that Malaysia and Singapore's bilateral relations "are at a very good level", adding that the HSR project and the 1962 water agreement "are issues that need to be tackled but should not be obstacles to maintaining good relations".

Saifuddin noted that Malaysia and Singapore wanted to further boost bilateral relations.

“I tried my level best to explain the situation. We are looking at the big picture. As far as our bilateral relations (are concerned)... our ties are strong and we want to work hard to bring it to greater heights,” said Saifuddin, who is scheduled to call on Singaporean deputy prime minister Teo Chee Hean.

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From iCompare Loan:

Price surges of new private homes could ease up in the coming quarters as an effect of the property curbs in early July, giving an advantage for launches in Q3.

“Launch figures for Q3 2018 could remain healthy as Riverfront Residences, Park Colonial and Stirling Residences have initiated their launches in July and other projects are also gearing up for launch including Daintree Residences and The Tre Ver,” said Mr Ong Teck Hui, JLL’s National Director of Research & Consultancy

Developers sold 2,366 private residential units in Q2 2018, a 49.7% increase from Q1 2018 but 23.1% less than the same period last year.

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From Reuters:

Investment firm AnAn is seeking legal advice after receiving a claim from Russian bank VTB to repay US$170.4m ($232m) in relation to the purchase of shares in Russian energy firm En+ in 2017.

VTB financed AnAn Group’s purchase of a 6.25 % stake in En+ during En+’s London initial public offering (IPO) in 2017. VTB has demanded that AnAn repay US$170.4m ($232m) within 21 days, AnAn said in a statement.

AnAn invested US$500m ($680.75m) in En+’s IPO as a cornerstone investor. It said in its statement that it believes the sharp fall in En+’s shares after the U.S. sanctions were imposed was “an unforeseeable force majeure.”

Read more here.

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