Daily Briefing: SPH net profit down 43.8%; Retail scene outlook for this year

And here's the difference between retirement age and re-employment age in Singapore.

Singapore Press Holdings reported a 43.8 per cent drop in net profit in its fiscal first quarter due mainly to restructuring costs and a slowdown in its media business. Singapore Press Holdings Friday (13 January) reported a 43.8 per cent drop in net profit to $45.7 million in its fiscal first quarter due mainly to charges arising from a restructuring of its core media business and a decline in the segment. Read more here.

Incoming islandwide retail supply significantly slowed in the past two years. According to URA, 2015 and 2016 (first to third quarters) saw approximately 0.6 million and 0.7 million sq ft respectively of net supply islandwide, versus 2.3 million sq ft in 2014. Major completions were concentrated in the suburban areas with the opening of Compass One in Sengkang and the retail space of Changi Airport Terminal 4. There was no completion on Orchard Road. Click here to find out more.

Earlier this week, parliament passed the act to extend the re-employment age from 65 to 67. This will apply to all Singaporeans and permanent residents who turn 65 from July 2017 onwards. As with most announcements pertaining to retirement, the change gathered quite a bit of discussion. Many people including politicians and experts have differing opinions about it and what else needs to be done.With the topic gaining attention, we thought it would be appropriate to discuss some of the possible misconceptions that people have regarding the re-employment age. Get to know the difference of the two here.

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