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RESIDENTIAL PROPERTY
FOOD & BEVERAGE
AVIATION
URA launches three residential sites under H1 GLS programme
ST Group prices IPO at $0.26 apiece
SIA Changi Airport lounges receive $50m makeover
The Urban Redevelopment Authority has released one residential with commercial at 1st storey and two residential sites for sale under the H1 2019 Government Land Sales (GLS) programme. Together, these three sites can yield about 1,545 residential units. JTC is injecting more homes in the one-north estate and enhancing the area as a mixed use business park.
Australia-based food and beverage firm ST Group has launched its initial public offering priced at $0.26 apiece. The IPO, which was rolled out in conjunction with the firm’s proposed listing on the Catalist board of the Singapore Exchange Securities Trading, comprises 30.08 million placement shares. At an issue price of $0.26 per share, the group’s market cap is expected to be approximately $64m.
Singapore Airlines (SIA) will invest more than $50m for the renovation of its Changi Airport Terminal 3 lounges. Planned renovations to the SilverKris and KrisFlyer Gold lounges will increase space and total customer capacity by 30%. Upgrades to the KrisFlyer Gold lounge will double its overall capacity, SIA said. First class passengers will also enjoy a private bar at The First Class Lounge.
A further tightening of financial regulation in Singapore BY RACHEL WOOLLEY It may seem like money laundering is on the rise if recent news headlines are anything to go by. But the fact is, criminals have been successfully laundering money through financial institutions for hundreds of years. The difference now is that financial regulators around the world are cracking down on banks to ensure that adequate processes are put in place to prevent criminals laundering money and financing terrorist activity.
The future of Singapore’s globalisation story is… human BY KYLE HEGARTY It was now over ten years ago when the cargo ships stopped moving. The Global Financial Crisis reached Asia causing the Singapore Strait, one of the biggest arteries of global trade, to come to a standstill. In fact, Singapore was the first Southeast Asian country to fall into a recession as a result of the calamity. At the time, it seemed the only businesses doing well were the bars and restaurants filled with brokers and traders who had nothing to sell.
MOST READ COMMENTARY Look to leadership to slay the spectre of overwork BY LUKE MCNEAL A recent study by Monster revealed that Singaporeans feel they have an “average” work-life balance and a third feel unsatisfied with the amount of time they’re able to spend with family and friends. More than 80% feel that having a good work-life balance can enhance productivity, but 42% say their bosses have a negative attitude towards it. Sentiment like this requires action. But ultimately, change needs to start from within.
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SINGAPORE BUSINESS REVIEW | SEPTEMBER 2019