16 November 2019

THE BUSINESS TIMES - Find latest business and financial news including analysis and opinion on top business stories, stock markets in Singapore, Asia-Pacific and global market news and more at The Business Times.

• New top-tier condos see better sales this year

  A HUNDRED and four non-landed new homes with a price tag of S$5 million and above were sold in the first 10 months of this year - the highest tally in recent years.

• Changing tides of foreign buying

  IN RECENT months, foreigners' purchases of luxury condo units in Singapore, including penthouses, have made headlines in an otherwise subdued market.

• OUE Q3 profit surges to S$124.1m on non-cash gain from merging of Reits

  OUE Limited's third-quarter net profit surged to S$124.1 million, almost 60 times that of the S$2.1 million net profit for the year-ago period due to higher earnings before interest and taxes (Ebit) and a one-off non-cash gain of S$90.9 million arising from the merger of OUE Commercial Real Estate Investment Trust (OUE C-Reit) and OUE Hospitality Trust (OUE H-Trust).

• Sponsor says it has strict rules in managing conflicts of interest at Sabana Reit, ESR Reit

  FOLLOWING an activist fund's call for the merger of Sabana Reit and ESR Reit, sponsor ESR Cayman on Friday said it is aware of the possible conflicts of interest that may arise between the two Reits and has put in place "strict internal controls" to regulate conflicts of interest within its different business lines.

• Frasers Property full-year earnings fall 25%

  FRASERS Property on Friday said net profit for its 2019 financial year fell sharply, down 25.3 per cent to S$560.3 million due to lumpiness in development earnings.

• Fragrance Q3 revenue sinks but profit soars on fair value gain

  PROPERTY developer Fragrance Group posted a net profit of S$98.4 million for the third quarter, about 41 times the S$2.4 million profit a year ago.

• Singapore's October private home sales fall 27% on month to 928 units; fewer units launched

  DEVELOPERS in Singapore sold 928 private homes in October, down 27 per cent from the 1,270 units moved in September.