Daily Briefing: Lack of new condo launches in May disappoints market; Temasek mulling US$1.32b investment in UK school operator

And here's what may buoy Raffles from its protracted stock decline.

From icompareloan:

JLL said in its report on the data released by the Urban Redevelopment Authority (URA) on 18 June 2018 that no new executive condominium projects were launched in the month of May. JLL, a global real estate services firm, noted that: “Rivercove Residences which was launched in April continued to move sales at a brisk pace, selling 108 units at a median price of $993 psf in May. In total, it has sold 610 of its 628 units i.e. a take-up rate of 97 per cent.”

Read more here.

From DealStreet Asia:

Singapore’s state investment firm Temasek Holdings is considering a £2 billion (US$1.32 billion) joint bid with an infrastructure fund managed by Swedish private equity firm EQT for UK-based schools operator Cognita, according to Sky News.

Cognita operates 70 schools across Europe, Latin America and Southeast Asia.

Read more here.

From The Motley Fool:

A saturated private healthcare market in Singapore and strong competition from regional players for medical tourists have led to stagnating growth for Raffles Medical Group. Consequently, market participants have driven its stock price down by nearly 40% from its all-time high that was reached in July 2015.

However, there are a few growth drivers that can boost the company’s bottom line in the near future. Firstly, Raffles Medical Group opened its Specialist Center in January this year. The 20-storey building will add additional bed capacity to the company’s adjacent Raffles Hospital and increase its specialist services.

Read more here.

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