Stories By: Singapore Business Review (2,968 Articles Found)

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RSI falls to 98 in November 2020: Knight Frank

The retail sales index (RSI), excluding motor vehicles, dipped by 2.4% y-o-y to 98 in Nov 2020, with retail sales performance having improved in the period due to large-scale sales events 11.11 and Black Friday on digital platforms,…

Fujitsu Asia to ‘reimagine’ Singapore office

Fujitsu Asia has revealed plan to reconstruct its office in Singapore to “support smart working and diverse working styles.” “To future-proof the company, the holistic workplace transformation will see a shift in areas including work, allowance, and staff…

Office rents set to fall by 5% in 2021

Singapore office rents may decline by around 5% in 2021 before bottoming out and recovering next year, barring new strains of COVID-19 and consequent lockdowns, according to Knight Frank. This is amidst an expected 5.3 million sqft of…

Mapletree, Keppel Land to launch luxury waterfront project

Mapletree Investments and Keppel Land are jointly developing a new luxury waterfront project, The Reef at King’s Dock, which will open for preview from 16 Jan The Reef at King’s Dock is strategically located in the HarbourFront and…

Singapore REIT sector raised $4.5b in secondary fundraisings in 2020

Trusts that represent the Singapore REIT sector raised $3b in placements, whilst five trusts raised a further $1.5b in rights issues for a total of 4.5b in secondary fundraisings in 2020, according to an update by SGX. The…

Frasers Property recognized for green initiatives

Five commercial properties of Frasers Property were presented eight certificates as recognition of their strong efforts made in implementing building practices and initiatives to reduce carbon footprint and promote sustainable consumption and production. The Frasers Tower, Alexandra Technopark,…

Singapore maritime industry remains as ‘world’s top bunkering hub’

Singapore’s maritime industry continues to progress and has managed to retain its top spot in global rankings despite challenges in the economy brought about by the circuit breaker. According to Senior Minister of State of Ministry of Transport…

LTA awards $34.3m contract for Downtown Line’s Hume station

LTA has awarded JSM Construction Group a $34.3m contract for the completion of the Hume station on the DTL. The new contract covers the construction of a station entrance, ventilation shaft, and fitting-out works for the new station.…

SPH REIT gross revenue up 10.8% to $66.6m in Q1 FY2021

SPH REIT reported a 10.8% YoY increase in gross revenue to reach $66.6m in Q1 FY2021, the REIT stated in its latest business update. The rise was largely attributed to its Australian shopping complex property Westfield Marion’s revenue…

Ascott Residence Trust secures $50m green loan from DBS

Ascott Residence Trust (ART) has obtained a $50m five-year green loan from DBS. ART said it is the first hospitality trust in Singapore to secure a green loan. Proceeds from the loan will be used to finance lyf…

Five ‘laggard’ S-REITs slated to outperform in 2021

Often overlooked by investors in favour of blue-chip S-REITs, “laggard” S-REITs are expected to play catch-up to their blue-chip peers in 2021 as these trade at higher distribution yields and larger discounts to NAV. In a report, UOB…

Singapore ranks low in residential price growth amongst 150 countries

Residential property prices have steadily increased in Singapore in 2020 compared to 2019, but the country still ranks low in the Knight Frank Global Residential Cities Index. According to Knight Frank Research, Singapore recorded only 0.7% price growth…

PlanetSpark launches innovation centre

PlanetSpark has announced the launch of an innovation centre dedicated to supporting Singapore tech startups speed up market deployment. Opened by MTI Minister Chan Chun Sing, the innovation centre is the first hardware-targeted accelerator for AI of Things…

KONE joins CapitaLand-led Smart Urban Co-Innovation Lab

Engg company KONE Corp has announced its collaboration with the CapitaLand-led Smart Urban Co-Innovation Lab, SEA’s first industry-led lab for smart cities solutions development. Officially opened by MCI minister S. Iswaran in Oct 2020, the lab brings together…

CoAssets shuts down after missing funds controversy

Singapore-based crowdfunding platform CoAssets, now operating as CA Funding, is in the process of winding down. In a message posted on the company website, the company said that members’ accounts without outstanding investments with the company were deleted…

OCBC floats Singapore’s first consumer loan for installating solar panels

OCBC has launched Singapore’s first consumer loan for the installation of residential solar panels, the bank said. The loan facility provides landed property homeowners with a term financing option for the installation of solar panels. Each homeowner can…

Yole Ice Cream opens flagship store in Singapore

Yolé Ice Cream has premiered its flagship store in the world at VivoCity in Singapore, offering an interactive experience for its customers. It also offers an extensive menu of flavours and formats for customers to choose from. Launched…

The Place Holdings to participate in mixed development project in Tanah Merah

The Place Holdings has entered into a shareholders’ agreement with MCC Land and Ekovest, as part of a new mixed development project located next to Tanah Merah MRT Interchange. Under the agreement, JV company has an issued and…

Online shopping boosts Singapore’s cashless payments market

Singapore’s digital payments have received a boost in the form of changes in consumers’ shopping behaviours during the pandemic, according to the results of the UOB ASEAN Consumer Sentiment Study. The study, which surveyed 1,000 Singaporean consumers, found…

Metro Holdings acquires 26% of 14-property industrial portfolio

Metro Holdings has expanded its presence in Singapore through the acquisition of a 26% stake in a portfolio of 14 business parks and high-spec industrial and logistics properties. The investment, amounting up to $76.7m, was made by subscribing…

Office rents to see positive growth in 2021: CBRE Research

Office rents would fare better in H2 2021 and consequently result in an overall positive rental growth next year, said CBRE’s research arm. The forecast was based on MTI’s projection that Singapore’s economy would grow by 4% to…

Nanyang Polytechnic, GSI to build MICE industry capabilities

NYP and Singapore-based events technology provider GlobalSign.in (GSI) have teamed up to foster the next generation of event managers and to build Singapore’s MICE industry capabilities. The partnership will include training and workshops, as well as internship opportunities…

Organisations to pay more for workspace upgrade: report

Organisations should expect to pay more to redesign or upgrade their workspaces in 2021, despite many trying to decrease capital expenditure due to the financial impact of the pandemic, according to the latest JLL report. The report noted…

AirTrunk opens new SGP1 data centre

Hyperscale data centre specialist AirTrunk has launched AirTrunk SGP1, its new data centre in Singapore amidst the company’s rapid expansion in APAC. Offering more than 60 MW, SGP1 data centre has over 20,000 sqm of data hall area…

Singapore minister, STB welcome Google Travel Insights services

MND Minister Desmond Lee and Singapore Tourism Board have expressed hope for the travel industry’s recovery as they welcome the newly launched Travel Insights with Google in Singapore. Travel Insights with Google is a website which industries can…

Singtel boosts 5G rollout through 28Ghz mmWave deployment

Singtel has revealed the deployment of 28Ghz mmWave in addition to 3.5Ghz and 2100Mhz frequencies to bolster the rolling out of 5G in Singapore. Offering a massive bandwidth, high capacity, and low latency, mmWave is an ideal frequency…

J&T Express opens third warehouse in Singapore

J&T Express announces the opening of its third warehouse in Singapore as part of its plan to develop a nationwide warehouse network. Housed in the west of Singapore, the new warehouse will allow J&T Express to improve efficiency…

Strong recovery expected for real estate: study

Singapore placed fifth in terms of geographical markets and is expected to attract the most real estate investments in 2021, according to Savills Investment Mgmt’s latest survey. The study has reiterated that Singapore stands out as one of…

Qualtrics to open Singapore data centre in 2021

Qualtrics has announced the planned opening of a data centre in Singapore in 2021 as part of its growing investment in helping organisations manage and improve the four core experiences of business-customer, employee, brand, and product across SEA.…

Conservation shophouse up for sale at $13m

A three-storey conservation shophouse at 18 Ann Siang Road has been put up for sale via EOI at $13m, according to Knight Frank. The shophouse is the last available unit of a trustees’ tranche of six commercial and…

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