SINGAPORE, April 1 Asia Pulse - Highlights of today's newspapers:
THE BUSINESS TIMES:
- The Housing & Development Board's price index for resale public housing flats increased 1.6 per cent in Q1 this year over the preceding quarter, shows the board's latest flash estimate released on Friday.
- The Singapore market braved 2011's first quarter, which was riddled with the unrest in the Middle East and North Africa (MENA) and the earthquake and tsunami in Japan, with total market capitalisation standing at $834.9 billion as at yesterday.
- Ascendas Real Estate Investment Trust (A-Reit) is buying a property at Biopolis for $125.6 million, and is raising some million through a private placement to fund the deal and other projects.
- Keppel Telecommunications & Transportation (Keppel T&T) has agreed to sell its 35 per cent stake in Wuhu Annto Logistics to Midea for after-tax proceeds of $52.6 million.
- The Singapore property auction market registered a significant drop in total sales value and number of transactions in Q1 2011 - chalking up a total of 17 transactions worth only $27.9 million - according to new data from Colliers International.
- The rental gap between prime Orchard Road and prime suburban retail space narrowed further in the first quarter this year as suburban rents were unchanged while Orchard Road rents dipped marginally from the preceding quarter.
- Having strong products or services are necessary attributes to building strong brands, said Minister of State for Trade and Industry Lee Yi Shyan, as he encouraged companies at a conference here to continually enhance their product designs and production methods.
THE STRAITS TIMES:
- Starhub has accused the company laying Singapore's fibre-optic network of tampering with and damaging its cables.
- M1 subscribers can look forward to smoother internet surfing and clearer calls after the telecommunications firm won the rights to a chunk of mobile phone airwaves.
- Fewer Singaporeans and permanent residents (PRs) are seeking help with debt problems.
- The CEO of DBS Group Holdings, Mr Piyush Gupta, took home a pay packet of just over S$8 million for 2010. The company's CEO earned S$1.2 million in salary, S$2.7 million in cash bonuses and S$4.1 million in deferred shares.
- Total bank lending in Singapore rose 17.3 per cent in February to S$334 billion from a year earlier, data released by the Monetary Authority of Singapore showed.
- Government of Singapore Investment Corporation, or GIC, said that it officially opened an office in India yesterday.
ASIA PULSE ry 01-04 1605