DAILY NEWS

Daily News – 22 Sep 2020 (Tue)

Singapore Real Estate

Maxwell House up for collective sale at S$295m reserve price
Commercial building Maxwell House has been launched for collective sale via a public tender, the appointed property consultant Cushman & Wakefield said on Monday. Owners holding not less than 80 per cent by strata area and share value have agreed to put the property on the market at a reserve price of S$295 million.
https://www.businesstimes.com.sg/real-estate/maxwell-house-up-for-collective-sale-at-s295m-reserve-price
https://www.straitstimes.com/business/property/maxwell-house-up-for-collective-sale-with-reserve-price-of-295m

Geylang’s Advance Apartment owners expect bids of over S$26.5m
Freehold site Advance Apartment at 8 Lorong 25A Geylang is now available for collective sale by tender, after more than 80 per cent of the owners gave their consent, sole marketing agent JLL said on Monday. The owners are expecting bids in excess of S$26.5 million, the agent added.
https://www.businesstimes.com.sg/real-estate/geylangs-advance-apartment-owners-expect-bids-of-over-s265m

Let genuine HDB upgraders off the hook for ABSD, PropNex CEO suggests
To help HDB upgraders buy private property, the government could hold off levying the additional buyer’s stamp duty within the six-month disposal period, which would address the problem of the repeated re-issue of options to purchase (OTP), Ismail Gafoor, the chief executive of PropNex, has suggested.
https://www.businesstimes.com.sg/real-estate/let-genuine-hdb-upgraders-off-the-hook-for-absd-propnex-ceo-suggests

Singapore Economy

Singapore brand mark to be introduced for local lifestyle products
Singapore will introduce a Singapore brand mark for local consumer lifestyle products in November, as part of efforts to deepen the trust premium for local brands. It will first be applied to products related to food and beverage (F&B), fashion and accessories, beauty and wellness, and homeware and decor, said Trade and Industry Minister Chan Chun Sing on Monday, adding that a road map for the mark and related plans for the various sectors will be revealed in due course.
https://www.businesstimes.com.sg/government-economy/singapore-brand-mark-to-be-introduced-for-local-lifestyle-products
https://www.straitstimes.com/business/spore-brand-mark-to-help-local-firms-stand-out-abroad

Companies’ Brief

Centurion invites noteholders to exchange, sell S$60m due-2022 notes
Worker and student accommodation provider Centurion is inviting holders of its existing S$60 million due-2022 notes to exchange them for new 3.5-year notes at a premium and/or to sell them for cash at par.
https://www.businesstimes.com.sg/companies-markets/centurion-invites-noteholders-to-exchange-sell-s60m-due-2022-notes

No partnership between Huttons Group, Century 21
Real estate agency Century 21 has clarified that it is not contemplating a partnership with rival Huttons Group. The clarification comes after Huttons, as part of an announcement about its new chief executive, on Monday said it is embarking on “a new chapter of growth with partners from Savills and Century 21”.
https://www.businesstimes.com.sg/real-estate/no-partnership-between-huttons-group-century-21

Keppel Capital ties up with S Korea pension fund for investment
Keppel Corp on Monday said its asset management arm, Keppel Capital, is partnering the National Pension Service of Korea (NPS) to explore investment opportunities for private infrastructure in Asia. The cooperation will bring together the asset management expertise of both NPS and Keppel Capital.
https://www.businesstimes.com.sg/real-estate/keppel-capital-ties-up-with-s-korea-pension-fund-for-investment
https://www.straitstimes.com/business/companies-markets/keppel-s-korean-pension-fund-to-explore-opportunities-in-asia

Market share gains give PropNex ringside seat in buoyant home sales market
As new private home sales rebound sharply, PropNex, Singapore’s largest real estate agency is sitting pretty given its ringside seat in the property market which has shown remarkable resilience amid the pandemic crisis.
https://www.businesstimes.com.sg/real-estate/market-share-gains-give-propnex-ringside-seat-in-buoyant-home-sales-market

Sembcorp launches fund for essential and migrant workers, smaller charities
Essential workers in the energy, water, waste and environmental services will each receive $200 in cash as Sembcorp Industries’ show of appreciation to those the company says have kept Singapore running amid the Covid-19 pandemic.
https://www.straitstimes.com/singapore/sembcorp-launches-fund-for-essential-and-migrant-workers-smaller-charities

SingHaiyi to reduce Cromwell stake to 1.6% for A$16.1 million
Mainboard-listed developer SingHaiyi Group is again paring its stake in Cromwell Property Group, with a share sale to an ARA Asset Management Holdings unit. SingHaiyi accepted a tender offer from ARA on Monday for roughly 17.5 million stapled securities, priced at A$16.1 million (S$15.9 million), the board said in a filing.
https://www.businesstimes.com.sg/companies-markets/singhaiyi-to-reduce-cromwell-stake-to-16-for-a161-million
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1224

UOB lags local peers in green banking: Maybank-KE
UOB has some catching up to do on the green banking front, said Maybank-Kim Eng analysts, with the bank lagging its peers on its environmental, social and governance (ESG) financing portfolio and certain diversity metrics.
https://www.businesstimes.com.sg/companies-markets/uob-lags-local-peers-in-green-banking-maybank-ke
https://www.straitstimes.com/business/banking/uob-lags-behind-peers-in-green-banking-report

Views, Reviews, Forum & Others

Domestic tourism, last-minute bookings key to saving Asia’s travel sector
When Covid-19 first hit, many of my peers and colleagues in the travel sector held their breath, hoping for a quick return to “business as usual”. What has become abundantly clear in the eight months since is that, for the global aviation industry at least, the future is now going to look very different to the way things were before.
https://www.businesstimes.com.sg/opinion/domestic-tourism-last-minute-bookings-key-to-saving-asias-travel-sector

Data can help traditional small businesses succeed in a pandemic
Mrs Lim, 63, has been running a famous Bak Kut Teh stall at the neighbourhood hawker centre for over three decades. Much like the humble fare she serves, not much changed over the years in the way Auntie Lim runs her business – until the unprecedented global Covid-19 pandemic forced her hand.
https://www.businesstimes.com.sg/sme/data-can-help-traditional-small-businesses-succeed-in-a-pandemic

Staying vigilant against a second wave
Covid-19 cases worldwide have crossed the 31 million mark and fatalities linked to it are approaching a million. While the United States tops the morbidity count with over seven million cases, India, with nearly 5.5 million, now has the second highest number of recorded cases worldwide – and by most accounts, the disease is out of control across the vast nation.
https://www.straitstimes.com/opinion/st-editorial/staying-vigilant-against-a-second-wave-0

Update on COVID-19 (Coronavirus Disease 2019) Situation

31 new Covid-19 cases in Singapore; none in the community
There were 31 new coronavirus cases confirmed yesterday, taking Singapore’s total to 57,606. This included nine new imported cases – seven who had returned from India, and two from Iran. All had been placed on stay-home notices on arriving in Singapore. There were no new cases in the community.
https://www.straitstimes.com/singapore/31-new-virus-cases-in-singapore-none-in-the-community

More nations urged to join initiative for equitable access to Covid-19 vaccine
Ending the pandemic requires a collective effort, and more countries should join the global initiative to support equitable access to a Covid-19 vaccine worldwide, said the European Union and 14 nations including Singapore yesterday.
https://www.straitstimes.com/singapore/health/more-nations-urged-to-join-initiative-for-equitable-access-to-covid-19-vaccine

1 in 4 patients with acute respiratory infection declined Covid-19 swab test: MOH
About a quarter of patients aged 13 and above diagnosed with an acute respiratory infection (ARI) from July 1 to Aug 16 declined a Covid-19 swab test, with some citing fear of discomfort. Since July 1, it has been a policy for all patients aged 13 and above who are diagnosed with ARI to be offered the swab test for the virus when they first see a doctor, as part of efforts to support more active case-finding in the community.
https://www.straitstimes.com/singapore/health/1-in-4-patients-with-acute-respiratory-infection-declined-swab-test-moh

Faster Covid-19 swab tests with locally made robot
A robot that carries out nasal swabbing to diagnose Covid-19 has been developed by clinicians who say the automated procedure is safer, faster and more comfortable compared with manual swab tests. The clinicians said the robot, called SwabBot, is the first in the world that allows patients to fully control the swab process.
https://www.straitstimes.com/singapore/faster-swab-tests-with-locally-made-robot
https://www.straitstimes.com/singapore/safer-faster-tests-with-singapore-robot-swabber

4th nationwide reusable mask distribution kicks off
A fourth nationwide exercise to distribute reusable masks is under way to help people protect themselves against Covid-19. The initiative by Temasek Foundation, the social and charity arm of Singapore investment firm Temasek, will provide Singapore residents with two reusable masks each. The exercise began yesterday.
https://www.straitstimes.com/singapore/4th-nationwide-reusable-mask-distribution-kicks-off

askST: How long should I use my reusable mask?
Here are some things to note about reusable masks.
https://www.straitstimes.com/singapore/how-long-should-i-use-my-reusable-mask
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation