News Highlights Monday 31 March 2008

End of property boom in sight
Flash estimates of the property market’s showing the first 3 months of the year will be released by the Government tomorrow. The figures will shed light on whether the property boom is moving towards its end. Property developers have delayed launches as buyers hold off buying due to the global credit crunch. Individual home sellers, convinced of Singapore’s economic fundamentals, are refusing to lower their prices. If tomorrow’s data shows prices have plateaued or dipped, it will be good news for homebuyers.

- The Straits Times, P16



S’pore, Tianjin cosy up in new club
The Tianjin Club, formed by a group of new immigrants, hopes to help Singaporean businessmen better understand Tianjin, where Singapore is set to build an eco-city. Officially registered here last September, the club currently has about 100 members, mostly recent immigrants from Tianjin, as well as some Singaporeans with business interests here. It is the third association here for mainland Chinese arrivals after the Tian Fu and Hua Yuan clubs. In the pipeline are business and cultural forums and talks and trips to Tianjin organized for Singaporeans. There will also be a steady stream of official and business delegations from Tianjin to Singapore.

- The Straits Times, H7



Exclusive luxurious freehold condominium in District 11 – Pastoral View (advertisement)
Location: 7 Bassein Road, walking distance to Novena MRT and future medical hub
Land size: 34,192.60 sq ft
Plot ratio: 2.8
Height restrictions: up to 36 storeys

- The Straits Times, H18



MAS likely to retain $ policy or tighten it
In response to strong price pressures at home and abroad, the MAS is expected to maintain its current policy stance for the trade-weighted Singapore dollar or S$NEER, or even tighten it. Estimates of the model employed by the MAS to fine-tune the local currency’s international value suggest its current policy of modest and gradual appreciation should translate into trend S$NEER appreciation of about 2.5 to 3.5% per annum.

- The Business Times, P1



K-Reit may raise more funds after its rights issue
K-Reit Asia will look at more forms of financing once its $551.7 million rights issue is completed – partly to repay the $942 million bridging loan it took from Keppel Corp when it purchased its one-third stake in One Raffles Quay. The right issue, which will significantly reduce the Reit’s gearing, will put the trust in a better place to negotiate with banks.

- The Business Times, P5