Daily Briefing: Slower earnings growth for REITs; Singapore banks' outlook lowered by Moody's

And here’s the deal on the sale of the HDB flat near redhill MRT.

Earnings growth for the six Singapore-listed office-sector real estate investment trusts' (REITs) is like to slow down in 2016, Fitch Ratings reported Wednesday (30 March). But the ratings agency said the credit profiles of most of the office SREITs are strong, which should help to absorb the impact without any major credit implications. Read more here.

DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. had their credit rating outlooks lowered to negative by Moody’s Investors Service, which said it expected a further weakening of conditions for the three largest Singaporean lenders as economic growth slows. Find out more here.

A 1,432 sq ft five-room HDB flat in Queenstown was sold for $918,000 in March this year, according to marketing agent Tay Hwee Hua (Helen Tay) from PropNex, who is also the owner of the unit. The mid-floor unit is located at 133 Clarence Lane that was completed in 1996. This deal marks the first transaction above $900,000 at Clarence Lane. Read more here.

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