Singapore
Chart of the Day: Secondary condo sales slumped 25.3% in Q1
Sales volume sank in March following social distancing measures.
Chart of the Day: Secondary condo sales slumped 25.3% in Q1
Sales volume sank in March following social distancing measures.
Circuit breaker measures extended until June 1
The measures were originally scheduled to be lifted on May 5.
MPA awards supplier licenses to Minerva Bunkering and TFG Marine
Oil sector boosted with entry of two bunkering companies. The Maritime and Port Authority of Singapore (MPA) has awarded two new bunker supplier licenses to Minerva Bunkering and TFG Marine, according to an announcement. These two new players will increase the supply of marine fuel, compliant with the International Maritime Organization (IMO) 2020 sulphur regulations, bringing the total number of MPA-licensed bunker suppliers in the Port of Singapore to 45. Minerva Bunkering and TFG Marine will be required to each operate at least two clean energy dual-fuelled bunker barges to drive more sustainable bunkering activities in the Port of Singapore. The companies both complement Enterprise Singapore’s (ESG) effort in the bunker fuel trading sector comprising more than 70 players, the press release stated. MPA added that overall bunker sales in Singapore grew 5.4% YoY, to 12.72m tonnes in Q1 2020 from 12.07m tonnes in Q1 2019. Bunkering services in the Port of Singapore and oil trading also remain resilient despite the global COVID-19 pandemic.
MAS urges clients to refrain from visiting financial firms
They are encouraged to use digital channels for their financial needs.
Online recruitment stagnates in March
The demand for tech professionals was countered by retail and trade hiring demand.
Keppel inks deals for floating data centre park
The company aims to explore floating data centres and LNG-to-power solutions.
APAC losses could rise to $2.85t, growth down to 0.3%
Economies expected to enter a complicated transition from lockdown. Containing the COVID-19 pandemic will cost Asia Pacific at least $2.85t (US$2t) in lost household and corporate incomes through 2021, according to S&P Global Ratings. The economic cost of an initial one-month lockdown is calculated to be about 3% of GDP in Asia-Pacific.
Unemployment rates to rise by 3 percentage points in APAC
Jobs lost to COVID-19 could be slow to win back.
Big three banks to average 38% fall in Q1 earnings: analyst
Margins are expected to shrink 6-10bps compared to Q4 2019.
MAS offers near-zero interest rate loans for banks
The facility aims to help make loans more affordable for SME borrowers.
Ministry of Law rolls out temporary relief for contractual obligations
This applies to bank loans incurred by local SMEs.
Hotel S-REITs may opt to privatise: analyst
Their yields are largely supported by fixed rents for master leases.
ST Engineering bags contracts worth $1.6b in Q1
Over half or $838m were clinched by its aerospace sector.
MAS, SGX RegCo look into possible breach of rules in Eagle H-REIT
MAS directs the manager and trustee to safeguard interest of unitholders.
NODX outlook remains dim despite March surge
Gold might not have enough glitter to carry Singapore’s export growth.
Daily Briefing: Temasek denies claim that CEO earns $100m a year; Pandemic heightens importance of food security, says experts
And remittance firm TranSwap in talks to close US$5-10m funding round.
Chart of the Day: Condo rent volumes dipped 3.5% in Jan-Feb
Transaction volumes might further drop following social-distancing measures.
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