News

Shunfu Ville sold for $638m to Qingjian

Shunfu Ville was sold to developer Qingjian Realty for S$638 million on Thursday, marking the largest collective sale since 2007. -BT

Jho Low sells $48m artwork, New York hotel stake amid US govt's 1MDB probe

The sales by the enigmatic businessman closely linked to 1MDB comes as the FBI is actively examining his financial dealings. -The Wall Street Journal

Malaysian PM's stepson bought $46.8 million London house with 1MDB funds: WSJ

Investigators believe that money from the Malaysian fund was used to buy home in 2012. -The Wall Street Journal

Couple inspired by New York lofts in design of 5-room HDB flat

Three decorative pieces form a vignette on the floor: a photo frame, indoor plants positioned in front of three wooden planks, and a painting. This setup gives the place a more charming touch. -Cromly

Singapore to call projected $2.82b of infocomm technology tenders

Made up mostly of infrastructure and ICT security bulk contracts, many will be amortised over 3-5 years. -BT

DBS ties up with SGX to digitalise trading account application

DBS is the first bank to do so in Singapore, and the initiative will allow its customers to set up a new trading account through their Internet banking account, and link it to their existing CDP accounts, all at once. -BT

Commission-free stock trading by year?

Hong Kong-based firm 8 Securities plans to roll out its "robo-adviser" service - an artificial intelligence system that gives investment advice - here. -ST

April dip makes it 18 straight months of negative inflation

The consumer price index (CPI) dropped 0.5 per cent last month from the same period a year ago, after sliding 1 per cent in March, said the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry yesterday. -ST

MAS to shut down BSI Bank in Singapore for alleged money laundering

This is the first time that MAS is withdrawing its approval for a merchant bank since 1984.

HDB launches 3,770 BTO flats, 5,170 balance flats for sale in mature and non-mature estates

HDB launched 8,940 flats for sale on in its second BTO and SBF exercise this year. -AsiaOne

House of Tan Tock Seng's kin sold for $145m

Shun Tak Holdings, via its wholly owned subsidiary Shun Tak Real Estate (Singapore), is paying $145 million for 9 Cuscaden Road. -My Paper

Investment banks suffer worst first quarter since financial crisis

Revenue at the world's 12 largest investment banks fell 25 per cent in the first quarter from a year ago. -Reuters

Should you ever give money to a beggar in the streets?

Giving a token sum and feeling good about ourselves is not likely to be the good, sustainable support that these people need. -Dollars and Sense

Co-working spaces help to keep costs down

Some firms choose this arrangement over typical offices, for flexibility as they expand. -ST

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