News

Dedicated offices in Raffles Hotel will be pricier than their current offerings which starts at $2,500 a month.

HDB rental volume also dipped 28.5% to 1,388 HDB flats rented.

The offering has a subscription rate of 2.7 times from asset managers and commercial bank investors.

Don’t expect gains today.

More home upgraders opted for units priced from $1.5-2.5m.

And GIC to sell shares in Coway to Korean company Woongjin Group.

The firm has proposed to transfer its assets and operations to existing licensees.

Goodman Fielder manufactures food ingredients and consumer branded food for Australasia.

The growth was boosted by offshore funds which are typically used by institutional investors.

The firm says they need a bigger venue due to a large number of shareholders wanting to attend.

This will affect SilkAir, China Southern Airlines, Garuda Indonesia, Shandong Airlines and Thai Lion Air operating in Singapore.

Large catchment areas will continue to boost suburban malls.

And Singapore-based healthcare startup Docquity bagged US$11m in a series B funding round.

Expect muted gains today.

There were 100 new bond listings which raised $42.87b. The Singapore Exchange recorded an 8% MoM increase in its securities daily average value (SDAV) to $1.06b in February, hitting its six-month high. However, it was still down 39% compared to the figures in February 2018. The bourse’s total securities market turnover fell 12% MoM and 42% YoY to $19.1b over 18 trading days. The market turnover value of Exchange Traded Funds (ETFs) also crashed 52% MoM and 70% YoY to $103m. For derivatives, total volume dipped 2% MoM and rose 1% YoY to 18.2 million. SGX noted that there February saw 1 Catalist listing and 100 new bond listings which raised $42.87b. The total market capitalisation value of the 740 listed firms hit $970.84b as of end-February.

Almost half or 5,520 units were transacted in the OCR. Resale condo transactions declined 7.8% YoY to 11,215 as units sold in H2 almost halved (47%) compared to H1, Edmund Tie & Company (ETCo) noted in a report. Across respective markets, resale volumes fell by 45-50% compared to the volumes in H1 2018. ETCo noted that the Outside Central Region (OCR) accounted for almost half (49.2%) of the total transactions as 5,520 resale units were transacted in the area, followed by the Rest of the Central Region (RCR) which accounted for 30.4% or 3,412 resold units, and the Core Central Region (CCR), which accounted for 20.4% or 2,283 resale transactions. ETCo also revealed that units under $1.5m accounted for 61.8% of the total resale transactions, higher than the 61.1% they accounted for back in 2017. Meanwhile, the proportion of units priced under $1m remained relatively unchanged at 27.6%, whilst a slight increase was observed in the proportion of sold units (34.2% from 34%) priced between $1-1.5m. Moreover, the report also noted that units above $1.5-2m comprised 18.1% (from 17.5% in 2017) of the resale transactions in 2018. The proportion of units priced above $2m declined from 21.4% to 20.1% in 2018. “Although the overall Urban Redevelopment Authority (URA) price index had risen by some 7.9%, a higher portion of the price increase is typically reflected in the new sales market relative to the resale market. This is not uncommon as the resale market usually consists of older housing stock which is also comparatively more affordable than new units within the same locality,” ETCo explained. For 2019, the firm believes that the resale market is set for a tight competition from the new sales market, particularly for well-priced and well-amenitised projects. “Resale volume for non-landed properties is expected to moderate with prices of older leasehold properties likely to face some downside pressure,” it added.