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The Week in Numbers: Singapore Prepares For Trump-Kim Summit

All eyes will be on Singapore as it hosts the highly anticipated summit between US President Donald Trump and North Korean leader Kim Jong Un on 12 June. More than 2,500 journalists from both local and international media are expected to cover the event. In total, organisers are expecting 2,000 workstations and 50 media booths.

The summit will be held at Capella Singapore, a five-star luxury resort on Sentosa, which sits on 30 acres of lawn and rainforest. The hotel was opened nine years ago and has 112 guestrooms. Basic rooms usually cost $680 a night, while the three-bedroom colonial manor goes at around $10,000 a night.

Resale prices of Housing Board flats rose 0.5% in May from April. However, on a year-on-year basis, prices were down 1.8% and down a total of 13.1% from its peak in April 2013. There was also a 5.3% drop in the number of resale flats sold last month compared to April.

Singapore’s manufacturing sector slowed last month, in line with economists’ expectation. Purchasing Managers’ Index (PMI), a barometer of industrial activity, dropped 0.2 points from April to 52.7 in May. A reading above 50 indicates expansion. This means despite the slower growth, the sector has maintained 21 straight months of expansion.

Finally, Singapore’s only three-Michelin-starred restaurant, Joel Robuchon Restaurant at Resorts World Sentosa (RWS) will close by the end of the month. Its sister outlet at RWS, the two-Michelin-starred L’Atelier de Joel Robuchon, will also close. The impending closures will certainly be a blow to Singapore’s fine-dining scene, which already lost the beloved two-starred Restaurant Andre earlier this year, which closed after eight years of operation.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Jeremy Chia doesn’t own shares in any companies mentioned.