Daily Briefing: Singapore bank lending declines further; Lower property tax in 2016

And here’s the deal on LTA’s $94.6m project.

Singapore's total bank lending fell for the second consecutive month in October as loans to general commerce and financial institutions decline, data from the Monetary Authority of Singapore (MAS) revealed Monday (30 November). According to MAS, loans and advances by domestic banks in the city-state amounted to S$601.7 billion last month. Read more here.

Homeowners in Singapore will benefit from paying lower property taxes in 2016 compared to this year, revealed the Inland Revenue Authority of Singapore (IRAS). In a statement, IRAS said the tax savings for HDB flats will range from nine to 24 percent, while over 80 percent of private homeowners will enjoy tax savings of between three and 20 percent. Find out more here.

Singapore-listed engineering firm OKP Holdings has won a $94.6 million contract by the Land Transport Authority (LTA) to build a viaduct from the Tampines Expressway (TPE) to the Pan Island Expressway (Westbound) and Upper Changi Road East. Read more here.