The overall budget deficit for 2020 is expected to rise to S$10.9 billion (RM32.48 billion), or 2.1% of gross domestic product, Deputy Prime Minister and Finance Minister Heng Swee Keat said in his Budget 2020 speech.
The other members of the consortium are HPRY Holdings and some other investors.
The manager of Ascott REIT says net sale proceeds, estimated to be around RMB 239 million, may be used to pare down the debts of Ascott REIT and its subsidiaries, or fund potential acquisitions and other general corporate purposes.
Singapore’s MAS says property cooling measures are here to stay.
In a filing with SGX, CapitaLand said the divestment is part of its ongoing strategy to enhance capital productivity.
Capital values for offices in Singapore have remained resilient despite declining rents and an influx in supply, according to Cushman & Wakefield.
This was mainly due a one-off gain on divestment of its 20.2% equity stake and the resultant remeasurement gain for the 30% retained stake in TripleOne Somerset.
“Improvement [was] seen in all quarters,” says RHB analyst Vijay Natarajan in a Wednesday report. “We expect MUST to continue benefitting from the strong underlying fundaments in the US office market with its strategically located three freehold US office properties.”
The manager of Starhill Global Real Estate Investment Trust has announced distribution per unit of 1.18 Singaporean cents for the third quarter ended March 31, a decline of 6.3% compared to DPU of 1.26 cents in the corresponding quarter last year.
Shares of CapitaLand have climbed more than 23% year-to-date. But DBS Group Research says the property group’s share prices could be driven even higher by strong catalysts in the medium term.