SG Morning Highlights: Singapore slaps 35% ABSD on residential property transfers into living trust, closing loophole
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Monday; STI down 0.25%
●Singapore slaps 35% ABSD on residential property transfers into living trust, closing loophole
●Stocks to watch: Manulife US Reit, Azeus Systems, OUE Commercial Reit
-moomoo News SG
Market Trend
Singapore shares opened lower on Monday. The $富時新加坡海峽指數(.STI.SG)$decreased 0.25 per cent to 3,283.66 as at 9:02am.
Advancers / Decliners is 43 to 88, with 55.75 million securities worth S$52.88 million changing hands.
●Singapore shares opened lower on Monday; STI down 0.25%
●Singapore slaps 35% ABSD on residential property transfers into living trust, closing loophole
●Stocks to watch: Manulife US Reit, Azeus Systems, OUE Commercial Reit
-moomoo News SG
Market Trend
Singapore shares opened lower on Monday. The $富時新加坡海峽指數(.STI.SG)$decreased 0.25 per cent to 3,283.66 as at 9:02am.
Advancers / Decliners is 43 to 88, with 55.75 million securities worth S$52.88 million changing hands.
Breaking News
Singapore slaps 35% ABSD on residential property transfers into living trust, closing loophole
An Additional Buyer's Stamp Duty (ABSD) of 35 per cent will be imposed on any transfer of residential property into a living trust, where the transfer occurs from May 9, the Ministry of Finance announced late on Sunday night (May 8).
Singapore slaps 35% ABSD on residential property transfers into living trust, closing loophole
An Additional Buyer's Stamp Duty (ABSD) of 35 per cent will be imposed on any transfer of residential property into a living trust, where the transfer occurs from May 9, the Ministry of Finance announced late on Sunday night (May 8).
Under current regulations, ABSD may or may not be payable upon such a transfer, depending on the profile of the beneficial owner of the residential property transferred into the trust.
"ABSD aims to promote a stable and sustainable residential property market, and as such, it should apply to transfers of residential properties into all living trusts, irrespective of whether there are identifiable beneficial owners of the residential properties transferred into such trusts," the ministry said.
Stocks to Watch
$ManulifeReit USD(BTOU.SG$ : US office-focused Manulife US Real Estate Investment Trust on Monday (Apr 9) said that portfolio occupancy for the first quarter ended Mar 31 remained stable at 91.7 per cent, above the US Class A average of 83 per cent.
Stocks to Watch
$ManulifeReit USD(BTOU.SG$ : US office-focused Manulife US Real Estate Investment Trust on Monday (Apr 9) said that portfolio occupancy for the first quarter ended Mar 31 remained stable at 91.7 per cent, above the US Class A average of 83 per cent.
With a long -weighted average lease expiry of 5 years, the Reit manager expects positive rental reversion, it said in an operational update.
$Azeus(BBW.SG$ : IT Solutions and products provider Azeus Systems Holdings has bagged a HK$1 billion (S$180.2 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.
$Azeus(BBW.SG$ : IT Solutions and products provider Azeus Systems Holdings has bagged a HK$1 billion (S$180.2 million) contract to design and develop the central electronic record-keeping system of bureaus and departments of the Hong Kong SAR government over a 53-month period.
The contract is the single largest contract secured by Hong Kong-based Azeus in corporate history, the company said on Monday (May 9).
$OUEREIT(TS0U.SG$ : Just 1 out of the 7 assets in OUE Commercial Real Estate Investment Trust’s (OUE C-Reit’s) portfolio is outside Singapore, but there are plans to acquire more overseas assets to grow the trust, with a focus on office assets in Sydney, Melbourne and London.
$OUEREIT(TS0U.SG$ : Just 1 out of the 7 assets in OUE Commercial Real Estate Investment Trust’s (OUE C-Reit’s) portfolio is outside Singapore, but there are plans to acquire more overseas assets to grow the trust, with a focus on office assets in Sydney, Melbourne and London.
"These are key gateway markets with a lot of liquidity for transactions in the S$200 million to S$400 million range; so you can enter and exit the market fairly quickly," said Han Khim Siew, the chief executive officer of OUE Commercial Reit Management. "The UK and Australia also have very good market transparency and governance."
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xuan2016 :
Always Hungryy : if you look at corporate results they're pretty decent. don't understand why everyone is jittery about the outlook. numbers don't seem to say that. maybe it's the media...
Hock Lai : good