Daily Briefing: Singapore millenials amongst the world's gloomiest; Margaret Drive site attracts 14 bidders

And here's a quick look into Singapore's bond market.

According to ManpowerGroup, Singapore millenials are amongst the world’s most gloomiest millennials, coming in only behind Japan, Greece and Italy. Around half of Singapore millenials asked are on the downside when it comes to career outlook. Read more here.

Fourteen land-hungry developers contested for a condominium site on Margaret Drive at the tender closing yesterday. MCL Land emerged as the top bidder with its offer of $238.4 million, or $998 psf per plot ratio. This works out to nearly 8% higher than the next highest bid of $925 psf ppr by Allgreen Properties. Based on the land tender price, the breakeven price is estimated to be in the $1,450 to $1,550 psf range. The site can yield around 275 homes. Desmond Sim, CBRE's head of research for Singapore and Southeast Asia, says the palatable quantum for this site allowed for a higher winning margin. Check out full story here.

Singapore’s very good credit rating makes Singaporean bonds attractive choices. Usually, retail and institutional investors alike rely on third party credit rating agencies to determine if a debtor is likely to be able to pay back its debt on time. These ratings are issued for corporate debtors as well as for sovereign countries or economies. Click here to find out more about the Singapore bond market.

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