Singapore Hotel Group Pursues Expansion Despite High Interest Rates

By end-2023, unlisted Worldwide Hotels will add about 2,000 rooms at home, bringing its total there to 8,671, making it one of the city-state’s largest hotel groups along with French hospitality group Accor and Far East Organization, controlled by billionaire brothers Robert and Philip Ng (No. 2).

Will Singapore’s PMI turn expansionary soon?

PMI edged up to 49.9. Despite three consecutive months of marginal improvement in Singapore’s headline Purchasing Managers Index (PMI), analysts still believe it is too early to call for a manufacturing recovery or a bottom to the electronics sector’s current downcycle cycle.