Tag Archives: Singapore

Singapore stocks may open higher; property stocks in focus

Posted on 30 May 2011 | Comments Off on Singapore stocks may open higher; property stocks in focus

Singapore shares may open up on Monday after Wall Street closed higher, but weak US data on consumer spending and housing may raise concerns about the recovery of the world’s largest economy and temper bigger gains.

Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.38% on Friday to 3,135.52 points. Here are some stocks and factors to watch:

Property stocks such as City Developments (CTDM.SI) and Keppel Land (KLAN.SI) may be in focus after the Singapore government announced over the weekend that it is planning to build more government housing to meet the backlog in demand.

Singapore brokerage Kim Eng (KEHS.SI) said on Friday its first quarter net profit rose 3.4 percent from a year earlier to $15.6 million, helped by higher commission and trading income as well as interest income.

Singapore-listed Chinese wastewater treatment firm Sound Global (SOGL.SI) said on Friday it had won a bid for a rural improvement project in Fushun County, China. The investment for the project is about 225 million yuan ($42.9 million), the firm said.

Singapore-listed life sciences firm Transcu (TRSU.SI) reported on Friday 2011 net loss of US$16.6 million ($20.5 million), narrowing from a net loss of US$29.2 million a year earlier, helped by higher contribution from its cosmetics business.

Singapore-listed Renewable Energy Asia Group (REAG.SI) reported 2011 net loss from continuing operations of 39.1 million yuan ($7.4 million), compared with net loss of 11.9 million yuan a year earlier, hurt by lower production volumes and higher production cost per unit.

Source : The Edge – 30 May 2011

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Posted in Funds, General

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Commercial property boom in Asia-Pacific

Posted on 27 May 2011 | Comments Off on Commercial property boom in Asia-Pacific

Commercial property leased out by investors in the Asia-Pacific, or invested stock, increased 14 per cent last year, displaying the region’s flourish while markets in Europe and the United States languished, according to the yearly Money into Property report by real estate consultancy DTZ.

The Asia-Pacific’s invested stock is also forecast to match current global leader Europe’s level by rising to US$4.4 trillion (S$5.47 trillion) by next year, after taking the place of the US as the world’s second-largest commercial property market this year, DTZ said.

The Asia-Pacific region’s growth has been led by China and Australia, which reported gains of 25 and 24 per cent, respectively, last year. Overall transaction levels in the region rose to US$158 billion last year, indicating increasing development activity and rising capital values. Global investment volumes were up 76 per cent at US$342 billion – the highest since 2007. DTZ also forecast global investment volumes to increase 9 per cent this year.

Mr David Green-Morgan, DTZ head of Asia Pacific Research, is optimistic about the region. “We expect Asia-Pacific’s momentum to continue on the back of strong economic growth, lack of legacy debt issues and strong investor interest.”

Liquidity in the Asia-Pacific commercial property market continued to grow last year. The amount of private debt funding such investments grew 17 per cent to US$257 billion, while private equity funding grew 13 per cent to US$139 billion. However, DTZ said rising interest rates may make bank loans less popular.

“On the debt side, some of the government policy will reduce the amount of debt going forward, for the growth of private debt in particular. Also some of the debt is being priced higher now and becomes less attractive,” said Mr Hans Vrensen, global head of research at DTZ.

“But there’s a lot of development still in the pipeline. You are not going to stop building a building. People will continue to deliver these properties to the market and that is a big momentum that the Asia-Pacific has,” said Mr Vrensen.

Source : Today – 27 May 2011

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Posted in Office / Retail / Industrial, Overseas Property

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