After fighting stresses from the struggling oil and gas sector last year, Singapore’s three largest banks – United Overseas Bank (UOB), Oversea-Chinese Banking Corp (OCBC) and DBS Group Holdings – are expected to gain from the booming property market, reported CNBC.
This comes as the increased buying activity in the city-state boosted demand for housing loans, which account for 15 to 20 percent of the said banks’ total loans, based on the estimates of Jeremy Teong, analyst at Phillip Securities Research.
In fact, data from Credit Bureau Singapore showed that mortgage loan applications increased by 20 percent quarter-on-quarter in Q1 2017 as private housing transaction grew to a near four-year high in Q1 2017.
“Given the significant weight of [the housing loans] segment, the Singapore banks will benefit from a stronger Singapore mortgage system loans growth,” said Teong.
However, the tight competition in the lending space could limit the margins of banks from the robust domestic property sector, noted Maybank Kim Eng analyst Ng Li Hiang.
“There is usually a two to three month lag between mortgage applications and mortgage disbursements … We envisage an improvement in housing loan growth in the next few quarters,” said Ng. “(But) banks are prepared to tighten pricing to attract new borrowers, potentially limiting the upside to earnings.”
And while banks may have difficulty matching the “remarkably strong” performance registered in the first quarter, which was buoyed by gains in trading and wealth management income, the relatively low comparison base from last year may help all three banks to post net profit growth in Q2 2017, said analysts.
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Building with Purpose: Wing Tai Partners with Pathlight School to Showcase Student Art at River Green
Wing Tai Asia (“Wing Tai”) and Pathlight School are delighted to announce their collaboration on a community art initiative at River Green, Wing Tai’s upcoming residential development in the vibrant River Valley area.
This unique initiative will transform the hoardings around the construction site of River Green into a vibrant, sprawling community art canvas, showcasing the talent and creativity of the Pathlight School students. This is the school’s first partnership with a real estate developer to feature its students’ artworks on such a platform and scale.
The collaboration will take the form of an art competition targeted at secondary school and vocational track students of Pathlight School. Launched in early April, it also happens to coincide with Autism Awareness Month. Winning and selected artworks will be adapted and featured on River Green’s hoardings spanning approximately 200 metres, along Kim Seng Linear Park, for the next three years. Additionally, these artworks will be showcased on River Green’s website, with full acknowledgment and recognition given to the students alongside their featured artwork.
Artwork entries will revolve around five themes to capture the spirit and essence of River Green’s surroundings, namely:
Singapore River – Past, Present, Future
Flora and Fauna along Singapore River
Community and Wellness along Singapore River
Vibrancy of River Valley and Singapore River
Architecture and Heritage along Singapore River
The winners of the competition and selected artworks are expected to be announced in July 2025.
Mr Edmund Cheng, Deputy Chairman, Wing Tai Holdings Limited, says, “Art has always been a defining element of Wing Tai’s developments, serving to connect and enrich the community while enhancing the environment. While hoardings typically function as safety and noise barriers, we are excited to transform our hoardings into a vibrant canvas featuring artworks inspired by the River Valley and Singapore River precincts. This initiative offers a unique opportunity to engage with the local community and celebrate the creativity and talent of young budding artists at Pathlight School. We are confident that their work will bring joy and spark curiosity among residents and passersby, creating a shared space for all to experience and appreciate the vibrancy and heritage of River Valley and the Singapore River.”
Adds Mr Cheng, “What’s even more meaningful for us is that this collaboration shines a light on the unique gifts of neurodivergent individuals and the role they can play in society. Wing Tai is glad to do our part towards fostering a more caring and inclusive community through this collaboration with Pathlight School.”
Ms Linda Kho,Senior Principal of Pathlight School, says, “We are grateful for opportunities that provide a platform for students with special needs to shine. Art is a powerful form of self expression that allows our students to express their unique perspectives. This collaboration with Wing Tai not only showcases their talents and builds their confidence, but it also motivates them to continue developing their artistic passion. By spotlighting their abilities, we also hope that there will be greater awareness and appreciation of the strengths of individuals on the autism spectrum, fostering a society that embraces and integrates the autism culture into our lives.”
Nestled in the bustling River Valley area, River Green offers an unparalleled blend of urban living and natural tranquility and is expected to be launched in the second half of 2025.
Dear helpless investor, I am writing to check in on you. It has been a roller coaster week. Are you still intact despite all the ups and downs? You must have been through a lot. Suddenly, you woke up to a disastrous free fall in the stock market. The next day there was a historic... [read more]
