News
ECONOMY | Staff Reporter, Singapore
view(s)

Daily Briefing: Singapore still 2nd for economic freedom; Short-sellers circle stock market

And Frasers Centrepoint is said to weigh Australand property IPO.

Singapore is still the world’s second freest economy in the 2016 Index of Economic Freedom, although the city-state saw a 1.6-point drop in its Index score from the previous year. Economic growth has slowed in Singapore, but the citys openness to global trade and investment continues to provide a solid basis for economic dynamism, wrote the editors of the report, which tracked the performance of 178 countries. Read more here.

Short-sellers have Singapore stocks in their sights as the market struggles to find its footing as a smaller exchange hit hard by the commodity rout. SGX saw its total short selling surge from 3.2 billion Singapore dollars (Exchange:SGD=) ($2.24 billion) in December to 5.6 billion Singapore dollars in January, representing 25 percent of total volume, the highest since data became available, Credit Suisse said in a note Tuesday. Find out more here.

Frasers Centrepoint Ltd. is considering listing a real estate investment trust in Singapore backed by Australian office and industrial properties, people with knowledge of the matter said. The Singapore-based company could sell units in the REIT, backed by assets from its A$2.6 billion ($1.8 billion) purchase of Australand Property Group, as soon as this year, depending on market conditions, the people said. The offering could seek at least $500 million, the people said, asking not to be named as the information is private. Read more here.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.