Citibank says global economy is not facing stagflation

Citibank says global economy is not facing stagflation
 
SINGAPORE: The global economy is not headed for a period of stagflation, according to US financial giant Citibank. The comment came in its latest investment outlook for the second half of this year.
 
Citibank said it favours equities over bonds due to high debt valuations, and it also [...]

First REIT to distribute 1.91 cents per unit for Q2, up 16% on year

First REIT to distribute 1.91 cents per unit for Q2, up 16% on year
 
SINGAPORE: First Real Estate Investment Trust said it will distribute 1.91 cents per unit for its fiscal second quarter, up about 16 per cent from the same period a year ago.
 
All in, First REIT will distribute S$5.2 million to unitholders.
 
The [...]

Soilbuild puts in top bid of S$13.6m for Woodlands site

Soilbuild puts in top bid of S$13.6m for Woodlands site
 
SINGAPORE: Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio.
 
The site has a 60-year lease and can potentially yield a gross [...]

Govt to delay additional S$1.7b worth of public sector projects

Govt to delay additional S$1.7b worth of public sector projects
 
SINGAPORE: The government has decided to postpone an additional S$1.7 billion worth of public sector projects to further ease pressure on construction resources in Singapore.
 
The government had earlier announced that it would postpone about S$3 billion worth of public sector projects to after 2009.
 
With [...]

First REIT posts DPU of 1.91 cents for Q2

First REIT posts DPU of 1.91 cents for Q2 
aFirst Real Estate Investment Trust, or First REIT, says its second quarter distributable amount rose 16 percent on year to 5.2 million dollars.
 
This translates to a distribution per unit of 1.91 Singapore cents.
 
The trust’s gross revenue for the three months to June rose 15 percent on [...]

Half of ION Orchard’s retail space already taken up

Half of ION Orchard’s retail space already taken up
By Irene Chan
 
Around half of the retail space at ION Orchard has already been taken up.
 
Despite the current uncertain economic climate, the developer of the project, Orchard Turn Developments, says it has seen a strong take-up by retailers.
 
CEO of Orchard Turn Development, Soon Su Lin, says [...]

Global economy not headed for stagflation: Citi

Global economy not headed for stagflation: Citi
By Rachel Kelly
 
The global economy is not headed for a period of stagflation, according to US financial giant Citibank.
 
In its investment outlook for the second half of this year the lender argued that slower economic growth may in fact help to combat inflation, and therefore reduce the risk [...]

Room rates at top-tier Spore hotels still rising

Room rates at top-tier Spore hotels still rising
Room rates for top-tier hotels in Singapore are still rising even as occupancy rates are easing off.
 
Figures released by hotel investment services firm Jones Lang LaSalle Hotels today, showed that the average daily rate for five-star hotels in May went up by 20 per cent to 331 [...]

Govt to defer $1.7bil of construction projects

Govt to defer $1.7bil of construction projects
 
Singapore’s government is deferring a further 1.7 billion dollars worth of construction projects as material and labour costs rose as much as 5 percent in the first quarter.
 
National Development Minister Mah Bow Tan gave the update in a parliamentary written reply issued today.
 
The move brings the total value of [...]

Drake & Scull IPO 101 times subscribed

Drake & Scull IPO 101 times subscribed
 
(DUBAI) Drake & Scull International PJSC, the Dubai-based construction engineering contractor, received bids worth 124 billion dirhams (S$36.7 billion) in its initial public share offering, 101 times the amount it sought.
 
About 45,600 local and international investors subscribed to the IPO, hoping to ‘benefit from mechanical, electrical, plumbing and [...]