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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Vietnam 

More foreigners buying apartments in HCM City – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – More foreigners are buying apartments and investing in real estate in Việt Nam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea. Ngô Quang Phúc, general director of Phú Đông Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Việt Nam. In 2014, the Ministry of Construction…

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Vietnam 

Foreigners allowed house ownership in Đà Nẵng – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News ĐÀ NẴNG — The central city’s construction department has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Sơn Trà peninsula and six in the downtown Hải Châu district. The department made an official announcement on Thursday, stating that these projects were built as trading centres, condotel complexes and apartments. It said foreigners will be given ownership certificates when buying apartments or houses at the Lapaz Tower apartment; the Hàn River side 34-storey Aruza, Hoàng Anh Gia Lai Lake…

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Vietnam 

Draft simplifies SOE stake bidding for foreigners – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A new circular drafted by the State Bank of Việt Nam would reduce punishments for foreign currency exchange violations. – Photo vietnamfinance.vn Viet Nam News The draft decree also added punishments to casino operation violations related to the listing of currency exchanges and the opening and use of accounts in foreign countries without the approval of the central bank. — VNS Source link

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Singapore 

Maximum tenancy period for foreigners renting HDB flats to increase, Singapore News

From next year, HDB owners can rent their flats or bedrooms to non-Malaysian foreigners for up to two years, six months more than currently allowed. The revised maximum tenancy period will apply to applications received from Jan 1, the Housing Board said in a statement yesterday. This revision will give flat owners greater flexibility to secure a longer tenancy period with non-citizen tenants who may have work/immigration passes that are valid for a longer period of two years, HDB added. The minimum rental period for an HDB flat remains at…

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Vietnam 

VN needs to simplify property laws for foreigners – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s real estate market must solve many difficulties to increase the number of foreigners buying property in Việt Nam, experts said. “To promote foreigners’ trading of real estate products on the local market, Việt Nam should increase the portion of property products available for foreigners in each project,” Nguyễn Hoài An, director of CBRE Việt Nam’s Hà Nội, branch told Việt Nam News. “It is necessary to complete legal documents, circulars, procedures and support for foreigners in buying property products…

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China moves closer to allowing foreigners to control insurance ventures

China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator is expected to publish its final guidelines as soon as the first quarter of 2019 and would begin taking applications from interested foreign insurers soon after that, they said. Britain’s Prudential Plc and Canada’s Sun Life Financial Inc are among insurers who expressed interest in recent months in owning more…

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Foreigners sold Asian equities in Oct on worries over trade, slowing growth

Foreign investors sold Asian equities heavily in October on concerns over slowing earnings, higher US interest rates and trade tensions between the United States and China. Data from regional stock exchanges showed foreigners sold a net total of US$14.54 billion in Taiwan, South Korea, India, Thailand, Philippines, Indonesia, and Vietnam equities in the last month. The total was the highest in at least seven years, the data showed. The outflows were led by Taiwan, South Korea and Indian equities, with each market seeing net sales of about $4 billion or…

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Money 

New Zealand bars foreigners buying homes: Chinese blocked but Singaporeans are still allowed

New Zealand has banned most foreigners from buying homes as it tries to tackle runaway housing prices. Previously the housing market was open to investors worldwide, but the government on Wednesday passed legislation that allows only New Zealand residents to buy homes. In recent years, there have been many anecdotal stories of wealthy foreigners from Silicon Valley and beyond buying ranches in picturesque rural New Zealand as a “bolt hole” or escape option from a turbulent world. There have also been stories of wealthy Chinese buyers outbidding New Zealanders on…

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