Retail sales decreased 2.6% year-on-year in July 2018, due mainly to lower motor vehicle sales. Excluding motor vehicles, retail sales increased marginally by 0.2% year on-year. Sales of food & beverage services decreased 0.3% year-on-year in July 2018.

Sasseur Group, the Sponsor of Sasseur REIT, has signed a Memorandum of Strategic Partnership with Secoo Holdings. Secoo Holdings is Asia’s largest integrated online platform for upscale products and services and one of Sasseur REIT’s strategic cornerstone investors. Sasseur Group and Secoo Holdings will each be tapping on their respective expertise in offline and online retail to develop an integrated omni-channel network targeting the growing luxury consumer market in China.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research