China developers in ‘survival mode’ slashes property investment

BEIJING (REUTERS) – Chinese developers in “survival mode” sharply cut property investment in July while new construction starts suffered their biggest fall in nearly a decade, suggesting the liquidity-challenged sector is not about to turn the corner anytime soon. China’s property market, accounting for about a quarter of the economy, has been trapped in a […]

Ascott Residence Trust to acquire 9 overseas properties from sponsor to boost presence in key markets

SINGAPORE (THE BUSINESS TIMES) – Ascott Residence Trust (ART) on Monday (Aug 15) proposed the acquisition of nine properties from its sponsor, The Ascott Limited, at an estimated total capitalised cost of $318.3 million. The acquisition is expected to strengthen ART’s presence in its existing markets, the stapled hospitality group’s managers said in bourse filings […]

Japan economy stages modest bounce from Covid-19 jolt but global outlook darkens

TOKYO (REUTERS) – Japan’s economy rebounded at a slower-than-expected pace in the second quarter from a Covid-19-induced slump, data showed on Monday (Aug 15), highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery. While rising consumption propped up growth in the April to June period, the outlook has been clouded by […]

Japan economy rebounds from Covid-19 jolt but global slowdown clouds outlook

TOKYO (REUTERS) – Japan’s economy expanded for the third straight quarter on solid private consumption, data for April-June showed on Monday (Aug 15), a sign the country was finally staging a much-delayed recovery from a Covid-induced downturn. But the outlook remains uncertain due to a resurgence in Covid-19 infections, slowing global growth, supply constraints and […]

CapitaLand Investment first-half profit slips 38.3% on lower asset recycling activity

SINGAPORE (THE BUSINESS TIMES) – Property investment manager CapitaLand Investment Limited (CLI) posted a 38.3 per cent drop in profit for the first half year ended June 30, to $433 million, from $702 million last year due to “lower velocity in asset recycling activities”, particularly in China, it said in a regulatory filing on Thursday […]