Daily Briefing: REITS to lure investments despite 20% price hike; Recruitment platform Glints bags $9.22m in series B funding

And HDB reports 3,300 unauthorised flat rental cases during the past four years.

From CNBC:

Singapore-listed real estate investment trusts may not appreciate much more in price given their roughly 20% rise this year — but strategists said they’re still a buy as interest rates will likely stay low.

Real estate investment trusts, or REITs, are companies that manage a portfolio of properties such as shopping malls, hotels and offices. Income generated from those real estate assets, after accounting for operating fees, is distributed as dividends to shareholders.

Investors generally find REITs attractive for their dividend payout and the potential for capital appreciation, and as a diversification in a portfolio of stocks, bonds and cash.

In the first six months of 2019, S-REITs attracted a net inflow of 396.3 million Singapore dollars ($291.85 million) from institutional investors, the exchange said in a report.

Read more here.

From DealStreetAsia:

Glints, a Singapore-headquartered recruitment platform, has raised $9.22m (US$6.8m) in Series B funding led by Monk’s Hill Ventures, according to a statement.

Other investors joining the oversubscribed round include Hong Kong-based MindWorks Ventures and existing backers Fresco Capital and Wavemaker Partners.

Glints said, the fresh capital will be used to grow its product and engineering teams, and expand into Vietnam and Hong Kong.

Launched in 2015, Glints offers a “full-stack” tech approach to recruitment, matching experienced recruiters with job seekers. The platform automates recruitment processes such as candidate sourcing, matching, and follow-ups, and offers its services free-of-charge until companies find themselves a successful hire.

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From iCompareLoan:

The Housing Development Board (HDB) saw 3,300 unauthorised flat rental cases since 2014 to 2018, according to the Minister of National Development Lawrence Wong in reply to a parliamentary question Member of Parliament for Tampines GRC Cheng Li Hui.

These cases include dis-amenities or overcrowding of HDB flats by both foreign and non-foreign tenants.

Besides revealing the data on unauthorised flat rental cases dealt with by HDB, and how HDB handles such cases, the Minister also answered a question on unauthorised short-term accommodation listings online.

“The listings on websites like Airbnb typically do not contain specific information on the property and its owner, or the terms of the rental arrangement. So the key to effective enforcement against illegal short-term accommodation (STA) is not so much by targeting the listings, but by conducting investigations against all suspected cases and taking action against the STA hosts,” Wong said.

Read more here.