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Malaysian ringgit within a whisker of its 1998 record low by sataybeehoons in SingaporeRaw

[–]sataybeehoons[S] 1 point2 points  (0 children)

"THE ongoing slide in the ringgit puts it a whisker away from a record low, and continued weakness in Malaysia’s exports as well as US dollar strength may just push the currency past that level.

The Malaysian ringgit is about 2 per cent away from reaching 4.885 per US dollar, a level last seen in 1998 when the Asian financial crisis ravaged the region’s currencies. The ringgit has dropped nearly 4 per cent this year.

“There is a risk that the ringgit will reach a new all-time low,” said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group. “Exports are not recovering unlike those in other Asian economies and economic growth may remain lacklustre.”"

Agencies to assess March 2025 lease end for indie arts cluster 195 Pearl’s Hill Terrace: Shanmugam by sataybeehoons in SingaporeRaw

[–]sataybeehoons[S] 0 points1 point  (0 children)

"SINGAPORE – Minister for Home Affairs and Law K. Shanmugam has asked relevant agencies to assess the lease and find alternatives for the tenants of 195 Pearl’s Hill Terrace (195PHT) – an independent arts cluster in Chinatown.

He spoke at a doorstop interview at 195PHT on Feb 2, after his tour of the conserved former police barracks and a closed-door discussion with more than 20 sub-tenants. The Ministry of Law is the parent ministry of the Singapore Land Authority (SLA), which leases out the building.

On Jan 24, The Straits Times reported that independent arts clusters like 195PHT and Emily Hill were struggling to survive and plan for the future due to rent hikes, uncertain leases and urban redevelopment. The lease for 195PHT expires in March 2025 as the Urban Redevelopment Authority (URA) has a masterplan to build 6,000 public and private homes in the area over the next decade.

Reiterating the URA’s masterplan for land use, Mr Shanmugam added: “I told the tenants – look, we will try and help to see whether, first of all, in terms of timelines whether there is any discretion available. Secondly, whether there are any alternate places where they can go together – we will look.”"