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.
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