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Consumers spent $508.7m on video games in the past year.

A deal will open doors for Singapore firms to explore opportunities in Myanmar. The International Enterprise Singapore signed a Memorandum of Understanding with the Myanmar Investment Commission (MIC) to strengthen economic ties between the two countries and to open the doors for more Singapore firms to set up shop in Myanmar. The deal provides an opportunity for Singapore firms to explore collaboration in urban and housing solutions, utilities, transport and logistics, manufacturing, oil and gas and professional services in Myanmar's market. “Myanmar has shown steady growth since its political and economic reforms started in 2011. Whilst teething challenges are present, as with any emerging economy, we note the government’s efforts to create a conducive business environment for foreign investors. For instance, its newly-passed investment law shows the government’s commitment to promote investments. Through this MOU, we hope to further collaboration between both countries on urban solutions, transport and logistics, utilities and professional services,” IE Singapore's Assistance CEO Tan Soon Kim said. As of end March 2017, Singapore was Myanmar’s top foreign investor with investments amounting to US$4.3b. As Myanmar’s key cities develop, IE Singapore has been working closely with Singapore companies across all sectors to contribute to the growing infrastructure and lifestyle needs of the burgeoning urban population. For instance, through IE Singapore’s introduction and facilitation, BreadTalk successfully negotiated its franchise model with Myanmar conglomerate Shwe Taung. Its first stall in the country has opened in Shwe Taung’s landmark Junction City mall, occupying a prime space on the ground floor. Meanwhile, Bok Seng Logistics made its first in-roads into Myanmar after identifying a credible local business partner with IE Singapore’s facilitation. In February, it signed a MOU with Ayeyar Hinthar, the largest conglomerate in the Ayeyarwaddy Region which owns the Pathein Industrial City (PIC), the region’s first large-scale industrial park. With this, it will explore provision of logistics hubs services to the PIC and beyond.

The property was sold to Champsworth Development.

Thanks to the 15% increase in ETF turnover value.

Despite being the largest MRO operator, it lags behind in revenue terms.

Whilst volume rose 8.1% to 1,983 flats sold. There was a slight 0.1% decrease in HDB Resale prices for the past month compared to April. The resale prices of 5 Rooms and HDB Executive increased by 0.5% and 0.3% respectively, while HDB 3 Rooms remain unchanged and HDB 4 Rooms decreased by 0.1%. According to SRX Property, prices decreased 0.7% year-on-year and declined 11.6% since the peak in April 2013. In terms of resale volumes, there were 1,983 flats sold in May 2017, an 8.1% increase from 1,834 transacted units in April. On a yearly basis, resale volume increased by 7.5% compared to 1,844 units resold in May 2016. However, it was down by 45.7% compared to its peak of 3,649 units in May 2010.  

Outlook for property markets in Asia remains positive in the long-term. Keppel Corporation is well-positioned to ride the property upturn, driven by the general positive long-term outlook for Asia's property markets. According to OCBC Investment Research, Keppel’s core markets are Singapore, China, as well as Vietnam and Indonesia. It also has a foothold in Myanmar. The brokerage firm said despite the property cooling measures in selected cities in China, the group sold over 3,800 units and handed over some 3,480 units in 2016. "Sales in China contributed to about 65% of the total 5,720 residential units that Keppel Land sold in 2016," it said. Meanwhile, Keppel sold 380 units during the said year in Singapore, double the 190 units in 2015. "With its landbank of 1.3m sq ft in prime locations, Keppel is well-positioned to ride on a recovery in the residential market when it occurs. Keppel’s residential landbank in Singapore and overseas total 8.4m sqm of GFA, translating to a pipeline of about 66,000 homes, mostly in China and Vietnam," OCBC Investment Research noted.  

Earnings are set to recover after two years of negative growth. This year spells good earnings per share for the overall market, with expectations of an 8% rise from the decline of 7.6% in the past year. According to UOB KayHian, earnings are set to recover after two years of negative growth. "So far, the 1Q17 reporting season has been encouraging and with a pick-up in Singapore’s GDP, we see a lower downside risk in corporate earnings in 2017. The recovery is key after two years of negative earnings growth and disappointments in the market. Particularly comforting is the solid results from banks as it appears that the worst is over for NPL formation from the oil & gas sector," the brokerage firm said. More so, it noted that the strength in NODX over the past 5 months (up to March) suggests a likely pick-up in Singapore’s GDP growth in 2017.  

The move came as the city recorded a pickup in demand. RHB said CapitaLand's recent office asset swap with the divestment of Innov Tower and the acquisition of Guozheng Centre is slightly positive for the group. According to the brokerage firm, it allows CapitaLand to unlock value from a mature stabilised asset and at the same time, gain entry into a newly-completed property of similar quality at lower price levels. More so, the move comes amidst a pickup in demand for properties in Shanghai’s Fringe CBD. "Fringe CBD assets are becoming particularly attractive to cost-conscious CBD tenants looking to consolidate or expand, as well as to companies that are seeking upgrade options from older properties. Decentralised office rents in Shanghai rose 4.4% YoY last year, while CBD rents showed a slight decline in 2H16 after strong 1H16," RHB said, quoting a JLL report.  

It currently holds 28.5% stake in the telco.

This is undermined by a softer gain in net foreign position.

Despite Wall Street’s gains, local bourse is likely to remain cautious. The Straits Times Index (STI) ended 5.26 points or 0.16% lower to 3230.49 on Wednesday, taking the year-to-date performance to +12.14%. The top active stocks today were Singtel, which declined 0.79%, DBS, which declined 0.29%, UOB, which gained 0.65%, OCBC Bank, which declined 0.19% and CapitaLand Mall Trust, with a 1.02% fall. OCBC Investment Research said this came with the U.S. stocks closed slightly higher as the financial sector helped to cap a sharp drop in energy shares, ahead of potentially market moving events on Thursday, including the U.K. election and former FBI director James Comey Senate testimony. Meanwhile, eight out of eleven S&P 500 industries ended higher, led by Financials (0.82%) and Real Estate (0.47%) while Energy (-1.48%) and Industrials (-0.14%) led the declines. Here’s more from OCBC Investment Research:

And SGX faces three big risks. From PropertyGuru via Yahoo!: Singapore has been named among 10 cities in Asia Pacific implementing big plans to improve urban mobility, according to a report launched by the Urban Land Institute (ULI) and Centre for Liveable Cities (CLC). The other cities on the list are Seoul, Shanghai, Suwon, Taipei, Tokyo, Bandung, Ho Chi Minh City, Sydney and Yangon. The report noted that Singapore’s growing population which now stands at 5.6 million and limited land has led to more space-efficient modes of transportation. For instance, more incentives have been introduced for people to use public transport and embrace new forms of transportation such as personal mobility devices (PMDs).

It intends to refine the licensing and business conduct requirements.

It accounts for only 14.7% of total ad spend in Singapore.

It fell from 18th place last year.