Daily Briefing: OCBC's profit falls 14%; Industrial prices, rents decline in Q1 as vacancy rises

And resale condo prices continue drop in March.

Oversea-Chinese Banking Corp., Singapore’s second-largest bank, said first-quarter profit dropped 14 percent, as provisions for bad loans more than doubled and the contribution from its insurance unit declined. Net income fell to S$856 million ($636 million) in the three months ended March 31 from S$993 million a year earlier, the company said Friday in a statement. That was below the S$899 million average of five analysts’ estimates compiled by Bloomberg. Read more here.

Prices and rents of industrial spaces in Singapore fell in the first quarter of 2016, as vacancy rates continue to rise, the latest statistics from JTC revealed. Prices of the overall industrial property market declined for the fourth straight quarter in the January to March period, declining 2.5 percent from the previous quarter. Find out more here.

Prices of completed non-landed private homes in Singapore fell by one percent in March 2016, after rising by 0.5 percent in the month before, revealed latest flash estimates of the NUS Singapore Residential Price Index (SRPI). Read more here.

Also Read

iFAST Corp net profit leaps nearly five times over in Q1

Fullerton Fund Mgmt, UNDP working on sustainable management framework

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit