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ECONOMY, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: MAS ready to tighten amidst trade risks; HDB chief suggests resale flats with shorter leases should be cheaper

And here's a fintech firm that gained US$20m as it develops a fintech chat app.

From Bloomberg Finance:

Majority of economists surveyed by Bloomberg think policy makers will put aside trade tensions and tighten monetary policy this week, due to a solid outlook on the economy and inflation.

"A majority of economists surveyed by Bloomberg predict policy makers will look past the latest trade skirmishes between the world’s two largest economies and assess the city state’s growth outlook as solid and inflation healthy. The Monetary Authority of Singapore, which uses the exchange rate as its main tool, has kept its policy unchanged since shifting to a neutral stance two years ago.

'Growth momentum is positive, global growth is actually good, and trade momentum from the start of the year has been quite good as well,' said Edward Lee, chief economist for South and Southeast Asia at Standard Chartered Plc in Singapore. While 'certainly the risks have risen' on trade, 'things are simply too accommodative at the moment.'"

Read more here.

From iCompareLoan via Yahoo! Finance:

“The price you pay (for your resale HDB flat) should (be) commensurate with the lease," said HDB chief executive Cheong Koon Hean suggesting that home seekers should pay less for resale flats with a shorter lease.

"Speaking at the 2nd Institute of Policy Studies-Nathan Lecture Series titled, 'Anticipating Our Urban Future -Trends, Threats and Transformation', Dr Cheong called such HDB buying decisions 'prudent choice'.

Dr Cheong joined the HDB in 2010 and oversees the development and management of some one million public housing flats in 26 towns and estates. Her comments come at a time when the public has expressed concerns about the 99-year leasehold for HDB flats, likening it to a 'ticking time-bomb'."

Read more here.

From Deal Street Asia:

Singapore-based fintech Consentium has now raised a total of US$20m after its latest round of private sale, including the US$10m proceeds it had raised in March.

"In an announcement on Tuesday, Consentium said it will use the funds to build its fintech chat app. The company, which claims to be Asia’s first multi-digital currency and group monetisation chat app, allows peer-to-peer (P2P), multi-digital currency transfers between users. It also offers a transactional fee redistribution programme as an incentive to create and cultivate strong in-app communities."

Read more here.

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