Latest News

Sysma awarded $5 mil construction contract by deputy CEO
SINGAPORE (Jan 16): Sysma Holdings’ wholly-owned subsidiary Sysma Construction has been awarded a $5 million contract for the construction of two two-storey detached houses at Medway Drive in Serangoon Gardens. The contract was awarded by Sin Ee Wuen, Sysma’s deputy chief executive officer, and the son of Sysma’s executive chairman and group CEO, Sin Soon Teng. As such, the deal ...
Slower economy, oversupply push Singapore's rental prices down for expats
(Jan 16): Hong Kong retained its title as Asia’s most expensive rental city for expatriates, while Singapore fell further down the ranking due to a slower economy and fewer relocations, according to consultancy firm ECA International. Hong Kong sat atop the list with an average price of $10,461 per month for an unfurnished, three-bedroom apartment in expatriate neighborhoods, according to ...
UMS Holdings acquires 7.48% stake in JEP Holdings for $5.7 mil
SINGAPORE (Jan 16): UMS Holdings, the precision engineering company, today announced that it has acquired a 7.48% stake or 109 million ordinary shares in JEP Holding for $5.7 million. The shares were acquired through the open market. The group satisfied the consideration in cash, funded through internal resources. Shares in UMS Holdings closed flat at $1.04 on Tuesday, while shares ...
Corporate governance code for listed companies to be revised; public feedback sought
SINGAPORE (Jan 16): The Corporate Governance Council is calling for public feedback on a simplified set of recommendations on how listed companies here can practise good corporate governance. The Council, which was formed last February, wants the Code of Corporate Governance to be more user friendly for company boards to adhere to. For one, the total word count of the Code will be halved ...
Two Singapore Airbnb hosts to plead guilty to illegal letting charges: lawyer
SINGAPORE (Jan 16): Two Airbnb hosts charged in Singapore with unauthorised short-term letting of four apartments are expected to plead guilty next month, their lawyer said on Tuesday. The two men face four charges under the city-state’s Planning Act for renting out four units in a condominium for less than six months without permission from Singapore’s Urban Redevelopment Authority, ...
Curb your enthusiasm for Singapore property: Bloomberg Gadfly
SINGAPORE (Jan 16): What's not to like about Singapore's property market? Sales in 2017 touched a four-year high. Developers paid homeowners $8.5 billion -- the most since 2007 -- to vacate their homes so new apartment complexes could be built. Prices have stopped falling, and Credit Suisse Group AG expects them to rise between 5% and 10% this year. Even Peter Churchouse, a Hong Kong-based ...
Maybank stays positive on Singapore property developers amid mortgage rate hike
SINGAPORE (Jan 16): Maybank Kim Eng Research is keeping its “positive” rating on Singapore’s real estate sector as property developer stocks are expected to ride on the market’s cyclical upturn. “We see more upside in 2018 as households displaced in the en bloc process seek out replacement homes,” says analyst Derrick Heng in a Monday report. With more than 3,000 households ...
Dasin Retail Trust started at 'buy' with 98 cents target by Phillip
SINGAPORE (Jan 16): Phillip Capital is starting coverage on Dasin Retail Trust with a "buy" and target price of 98 cents with a forecast dividend of 9.5 cents. Phillip expects organic rental growth of 16% CAGR for the next two years for Dasin with growth coming from across almost all lease types, with almost 90% of leases having built-in fixed escalation in rent or linked to tenant ...
JB-SG Rapid Transit System to carry 10,000 passengers per hr per direction; need to clear customs only once
SINGAPORE (Jan 16): Johor Bahru-Singapore (JB-SG) Rapid Transit System Link (RTS Link) will have the capacity to carry up to 10,000 passengers per hour per direction. This means that it is able to carry an addition capacity of 60,000 users crossing the Causeway during peak hours. And in order to facilitate the passenger flow, the RTS Link will have co-located Custom, Immigration and ...
Construction starts for Ascendas-Singbridge JV project, Office Tower 1 at OneHub Saigon
SINGAPORE (Jan 16): Ascendas-Singbridge, together with its joint venture (JV) partner Saigon Bund Capital Partners, have started construction works for Office Tower 1 at One Hub Saigon in Vietnam. This is the upcoming 12ha development in Saigon Hi-Tech Park, Ho Chi Minh City’s first fully integrated park. Tower 1 has a gross floor area (GFA) of 12,000 sqm over six floors, and is expected ...