Daily Briefing: Trump Kim summit cost Singapore $16.3m; Mahathir revives disputed water supply agreement

And here are the six parties who submitted tenders for a Sengkang Central site.

From Reuters:

Singapore said on Sunday it spent S$16.3 million ($12 million) on hosting the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, less than earlier reports that had angered some locals. Most of the money went on security, the foreign ministry said, without giving a detailed breakdown.

Prime Minister Lee Hsien Loong had earlier estimated the event cost Singapore S$20 million. Foreign minister Vivian Balakrishnan had said that included the cost of Kim’s hotel room.

Read more here.

From Bloomberg:

Malaysian Prime Minister Mahathir Mohamad has revived the muscular foreign policy that characterised his first stint in power, seeking to renegotiate a longstanding water supply agreement with Singapore and taking shots at both the U.S. and China.

In an interview with Bloomberg Television’s Haslinda Amin, the 92-year-old Mahathir criticized a 1962 water supply deal with Singapore as “too costly.”

Singapore has relied on neighbouring Malaysia for nearly half of its water needs through water agreements, the first of which dates back to 1927. The remaining 1962 accord, which expires in 2061, gives Singapore 250 million gallons of raw water daily at 3 sen per 1,000 gallons, and Malaysia buys back a portion of that at 50 sen (12 cents) per 1,000 gallons.

Read more here.

From PropertyGuru:

The tender for a residential and commercial site in Sengkang Central measuring approximately 401,008 sq ft closed on Thursday (21 June), said the Urban Redevelopment Authority. The 99-year leasehold site with a maximum gross floor area of 842,125 sq ft could yield some 700 housing units.

Overall, six parties submitted seven concept proposals. These include a joint venture between CapitaLand and City Developments Limited, Perennial Real Estate Holdings and Qingjian Realty, Wing Tai Holdings and Keppel Land, and Singapore Press Holdings and Kajima Development.

Read more here.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia