Daily Debrief: What Happened Today

Stories you might have missed

Singapore employment rises 75,600 in Q3 but momentum may be easing

THERE are early signs that Singapore’s labour market improvement is slowing as economic growth eases, even though employment continued to grow in the third quarter of 2022, according to advance figures from the Ministry of Manpower (MOM) on Friday (Oct 28).

HDB resale prices up 2.6% in Q3, rising at slower pace

RESALE prices of public housing flats climbed for the tenth consecutive quarter in the third quarter of 2022, up 2.6 per cent from the previous quarter, but slightly slower than Q2’s 2.8 per cent rise.

F1 drives Singapore hotels’ average room rate, revenues to new highs in September

REVERSING from a dip in August, Singapore hotels average room rate (ARR) reached S$284.37 in September – the highest since 14 years ago, when September 2008’s ARR came in at S$298.65. Overall hotel room revenue and revenue per available room (RevPAR) also grew in September to hit new highs.

Private home prices rose 3.8% in Q3, up 8.2% this year

PRIVATE home prices in Singapore grew by 3.8 per cent in Q3 2022, accelerating from 3.5 per cent in Q2 and higher than the 3.4 per cent flash estimate by the Urban Redevelopment Authority (URA) earlier this month.

Singapore should exempt carbon credits from GST: KPMG

SINGAPORE should review and clarify how its goods and services tax (GST) applies to voluntary carbon credits to foster development of carbon credit markets in the nation, professional services firm KPMG said in a white paper this week.

Auditors should proactively consider companies’ climate-related risks: ISCA

AUDITORS should proactively consider the implications of climate-related risks on companies and assess whether a misstatement or omission of such disclosures could be financially material, the Institute of Singapore Chartered Accountants (ISCA) said.

Corporate Earnings

• UOB’s Q3 profit up 34% to S$1.4b on record net interest income
• CDL Hospitality Trusts’ net property income up 54.4% in Q3, bolstered by travel
• CapitaLand Ascott Trust RevPAU up 88% in Q3 on higher occupancy, ADR

The STI today

Singapore stocks end week on a high amid bargain hunting; STI up 1.5% on Friday

SINGAPORE shares capped the week on an upbeat note, as the beginning of the third-quarter corporate earnings season helped boost investor sentiment.