Daily Briefing: Trump Kim summit cost Singapore $16.3m; Mahathir revives disputed water supply agreement

And here are the six parties who submitted tenders for a Sengkang Central site.

From Reuters:

Singapore said on Sunday it spent S$16.3 million ($12 million) on hosting the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, less than earlier reports that had angered some locals. Most of the money went on security, the foreign ministry said, without giving a detailed breakdown.

Prime Minister Lee Hsien Loong had earlier estimated the event cost Singapore S$20 million. Foreign minister Vivian Balakrishnan had said that included the cost of Kim’s hotel room.

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From Bloomberg:

Malaysian Prime Minister Mahathir Mohamad has revived the muscular foreign policy that characterised his first stint in power, seeking to renegotiate a longstanding water supply agreement with Singapore and taking shots at both the U.S. and China.

In an interview with Bloomberg Television’s Haslinda Amin, the 92-year-old Mahathir criticized a 1962 water supply deal with Singapore as “too costly.”

Singapore has relied on neighbouring Malaysia for nearly half of its water needs through water agreements, the first of which dates back to 1927. The remaining 1962 accord, which expires in 2061, gives Singapore 250 million gallons of raw water daily at 3 sen per 1,000 gallons, and Malaysia buys back a portion of that at 50 sen (12 cents) per 1,000 gallons.

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From PropertyGuru:

The tender for a residential and commercial site in Sengkang Central measuring approximately 401,008 sq ft closed on Thursday (21 June), said the Urban Redevelopment Authority.  The 99-year leasehold site with a maximum gross floor area of 842,125 sq ft could yield some 700 housing units. 

Overall, six parties submitted seven concept proposals. These include a joint venture between CapitaLand and City Developments Limited, Perennial Real Estate Holdings and Qingjian Realty, Wing Tai Holdings and Keppel Land, and Singapore Press Holdings and Kajima Development.

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