Singapore

Chart of the day: Grade A CBD rents up 2.3% to $10.61 psf/mo in Q1

This broke the peak in Q1 2015 where rents hit $10.43 psf/mo.

UOB unveils online utility marketplace

Consumers can choose from a wide array of electricity, gas, water, broadband and TV service providers.

HSBC names Tze Tze Lee as product and propositions head of trade and receivables finance

Lee was formerly head of product management, trade finance at OCBC.

Frasers Hospitality Trust's DPU could slip 13% for FY2019/2020

Sluggish corporate demand at its Sydney properties is weighing in on near-term performance.

Buses with rooftop gardens hit Singapore streets

The initiative aims to study if such effort could reduce fuel consumption for air conditioning.

Sembmarine banks on more orders to bounce back into the black

Sembmarine's strong order pipeline could translate to $3b or more in new orders in 2019.

Isetan Singapore will not renew ‘loss-making' Westgate store lease

It was not able to reach an agreement on the renewal terms with JG Trustee.

Hong Lai Huat Group sells Cambodia property for $1.53m

The factory in Kandal Province has a built-up area of 4,698 sqm.

Suntec REIT issued 111.11 million new units at $1.80 apiece

The new units will commence trading on the SGX-ST on 6 May.

Amber Park sold over three fourths of units for $240m in weekend launch

The early bird average selling price was at $2,425 psf.

Are CLOs a good alternative investment for Singapore Family Offices?

In recent years, we have seen an influx of Asian money into countries like Singapore and Hong Kong. According to the recent World’s Billionaire’s list published by Forbes, Asia is home to 719 billionaires, approximately 32.65% of the world’s billionaires. The ultra-rich are starting to take a more hands on approach in the investment of their wealth and Family Offices are on the rise. At the end of 2018, Asia has nearly 500 Family Offices in Asia and this number is set to rise in 2019. Family Offices not only provide investment strategies, they also assist with diversification of the family’s business portfolio, dispute resolution, and succession planning.

Singapore to repatriate $35m of 1MDB funds to Malaysia

The money was surrendered by former Goldman Sachs banker Roger Ng.

Share buybacks plummeted 69.23% to $36m in April

OCBC bought back $25.56m worth of shares. Share buybacks by SGX-listed firms crashed 69.23% YoY to $36m in April from $117m a year ago, according to the local bourse. The transactions in April were one-third lower compared to the $53.5m buyback considerations in March. OCBC led the monthly buyback spree, re-purchasing $25.56m worth of shares. This was followed by Keppel REIT ($2.67m), Hong Fok Corporation ($2.18m), Global Investments ($1.97m), and Stamford Land ($1.11m) that rounded up the top five in April

StarHub's profits fell 14.2% to $54m in Q1

It blamed lower revenues from mobile and Pay TV.

Singapore may soon allow virtual banks: DBS CEO

Gupta, however, believed that they may not pose a significant threat.