{"id":113765,"date":"2020-01-20T17:09:58","date_gmt":"2020-01-20T10:09:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-strikes-back-against-nus-for-developer-collusion-study\/"},"modified":"2020-01-20T18:03:02","modified_gmt":"2020-01-20T11:03:02","slug":"redas-strikes-back-against-nus-for-developer-collusion-study","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-strikes-back-against-nus-for-developer-collusion-study\/","title":{"rendered":"Redas strikes back against NUS for 'developer collusion' study"},"content":{"rendered":"


\n\u00a0
\nThe Real Estate Developers\u2019 Association of Singapore (Redas) has strongly denied the suggestion that the industry is engaged in insider trading, price fixing or collusion, reported Today.
\nThis strong sentiment follows the National University of Singapore (NUS) Business School\u2019s recent publication of a research paper that claimed the existence of \u201cevidence of insider trading in the land market\u201d.
\nThe paper found that the top managers of the country\u2019s real estate developers played golf with each other more often after the Government Land Sales programme was announced. It also claimed that the winning bids for the tenders were lower by 14.4% when compared to the winning bids made by those who did not play golf.
\nRedas cast doubt on the methodology used in the paper and said they reserved the right to examine the findings so that the \u201cfaulty assumptions\u201d could be addressed.
\n\u201cWe are appalled by the lead researcher\u2019s unsubstantiated assertion and the conclusions drawn by the authors are misleading. They cast aspersions on the conduct of the many reputable real estate businesses in Singapore and create distrust between the public, the authorities and the private sector,\u201d said Redas.
\nThe association said they have taken the allegations seriously and emphasised that the research \u201casserts that they \u2018found evidence that reject the collusion hypothesis\u2019\u201d.
\nRedas claimed that it is \u201cdisingenuous that the finding was not included in the media release for the report\u201d.
\n\u201cThe findings also clearly do not support the authors\u2019 further conclusion that there is \u2018insider trading in the land market\u2019 and that there is a link between golfing and developers\u2019 land bidding behaviour,\u201d it said.
\nThe association explained that the allegations of the research would affect the partnership between the different stakeholders in the built environment industry and the authorities that have helped to make \u201ca Singapore brand renowned for its transparency and no-nonsense business environment.\u201d
\nChia Ngiang Hong, Redas president, showed his displeasure at the research paper\u2019s findings during an interview with Bloomberg.
\n\u201cEven if there\u2019s an exchange of information, it\u2019s not a guarantee that you will win the bid. Real estate executives play golf quite often. To say we play golf just to discuss land sales or business is presumptuous,\u201d he said.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Redas strikes back against NUS for ‘developer collusion’ study<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 The Real Estate Developers\u2019 Association of Singapore (Redas) has strongly denied the suggestion that...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-113765","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tAV","jetpack-related-posts":[{"id":113827,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/researchers-withdraw-earlier-claim-of-insider-trading-during-golf-sessions\/","url_meta":{"origin":113765,"position":0},"title":"Researchers withdraw earlier claim of \u201cinsider trading\u201d during golf sessions","date":"January 23, 2020","format":false,"excerpt":"\r Following the Real Estate Developers\u2019 Association of Singapore\u2019s (REDAS) strong denial of the allegations of \u201cinsider trading\u201d during golf sessions, the researchers have now removed their claims in an updated version of the paper. The researchers behind a National University of Singapore (NUS) research paper claiming \u201cevidence of insider\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114047,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-review-found-no-sign-of-collusion-among-developers\/","url_meta":{"origin":113765,"position":1},"title":"Government review found no sign of collusion among developers","date":"February 4, 2020","format":false,"excerpt":"\r National Development Minister Lawrence Wong shared that no cases of wrongdoing was found by his ministry. A government-led review has dismissed a claim that developers have been colluding with each other when bidding on Government Land Sales (GLS) tenders \u2013 an act which National University of Singapore (NUS) academics\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/research-shows-link-between-developers-playing-golf-and-bids-for-government-auctions\/","url_meta":{"origin":113765,"position":2},"title":"Research shows link between developers playing golf and bids for government auctions","date":"January 16, 2020","format":false,"excerpt":"\r The group of researchers say that insider trading among the top executives of real estate development firms happens on golf courses.\u00a0 By analysing the public records of golf players in Singapore and the bids that developers made for government land auctions, a group of researchers said they have unearthed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-more-upbeat-but-worry-over-possible-curbs\/","url_meta":{"origin":113765,"position":3},"title":"Developers more upbeat but worry over possible curbs","date":"October 26, 2017","format":false,"excerpt":"\r Home builders here have become more bullish, but they fear that the improving market conditions would result in more property curbs from the authorities, reported the Straits Times. In fact, the Real Estate Sentiment Index (RESI) show that property developers\u2019 general sentiment has improved. They also have better views\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-too-soon-to-say-property-market-has-recovered\/","url_meta":{"origin":113765,"position":4},"title":"Redas: Too soon to say property market has recovered","date":"July 10, 2017","format":false,"excerpt":"\r Augustine Tan, President of Redas. (Photo: Far East Organization) Despite signs of the property market picking up, Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes that it is still too early to assume that the market has finally turned positive and recovery has kicked in, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93453,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-rationale-for-new-property-cooling-measures-says-redas\/","url_meta":{"origin":113765,"position":5},"title":"No rationale for new property cooling measures, says REDAS","date":"July 9, 2018","format":false,"excerpt":"\r The Real Estate Developers\u2019 Association of Singapore (REDAS) sees no rationale in imposing new property cooling measures considering that the Singapore property market is still in the \u201cearly stages of a recovery and the recovery is in line with economic fundamentals\u201d, reported Channel News Asia. Among the new curbs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113765"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=113765"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113765\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}