S’ pore property prices

SINGAPORE: A sharp surge in Singapore property prices is not sustainable in the long-run, a government minister said Sunday. Home prices in Singapore surged by 10 per cent last year on the back of a robust economy and are expected to increase further this year. Rents in the wealthy city-state have also doubled this year. The government last week released 15 new land sites for development, including eight for residential purposes, which analysts saw as a move to cool the red-hot market.—AFP

Proton, VW eye tie-up

KUALA LUMPUR: Malaysian carmaker Proton and German auto giant Volkswagen AG are cautiously edging towards a partnership after a second round of talks in Thailand, officials said Sunday. “Negotiations between Proton and Volkswagen are ongoing,” said Ahmad Shahizam, spokesperson with the government’s investment arm, Khazanah Nasional. He declined to elaborate further. —AFP