DAILY NEWS

Daily News – 27 July 2021 (Tue)

Singapore Real Estate

Do landed homes trump condos as investments?
In dense Singapore, many aspire to own a private landed home. Over a 20-year period to the second quarter of 2021, prices of private landed homes rose 101 per cent, outperforming the 77 per cent jump in prices of private non-landed residential property based on data from the Urban Redevelopment Authority.
https://www.businesstimes.com.sg/real-estate/do-landed-homes-trump-condos-as-investments

At least 17,000 Build-to-Order flats to be launched in 2022
The Housing Development Board (HDB) is expecting to launch at least 17,000 Build-to-Order (BTO) flats in 2022, Minister for National Development Desmond Lee has said. The stringent safe-management measures imposed in work sites…
https://www.businesstimes.com.sg/real-estate/at-least-17000-build-to-order-flats-to-be-launched-in-2022
https://www.straitstimes.com/singapore/politics/no-plans-to-cut-back-on-supply-of-bto-flats-in-2022-hdb-on-track-to-launch-17000

Landlords must match government’s 2-week rental support for tenants
[Singapore] Commercial landlords will be required to match the two-week rental support provided by the government to tenants during Singapore’s phase two (heightened alert) measures. This was announced by Finance Minister Lawrence Wong in Parliament on Monday during a ministerial statement on support measures for workers and businesses amid tightened restrictions.
https://www.businesstimes.com.sg/real-estate/landlords-must-match-governments-2-week-rental-support-for-tenants
https://www.straitstimes.com/singapore/politics/commercial-landlords-to-be-required-to-match-rental-support-for-tenants

Construction, upgrading works at some schools to be delayed
Upgrading and construction works at two primary schools, two secondary schools and four junior colleges (JCs) will have delays of up to two years owing to the coronavirus pandemic, said the Ministry of Education (MOE) yesterday.
https://www.straitstimes.com/singapore/parenting-education/construction-upgrading-works-at-some-schools-to-be-delayed

Singapore Economy

S$1.1b support package for Phase 2 Heightened Alert to be funded through budget reallocation
THE support measures for the current Phase 2 (Heightened Alert), or P2HA, will be financed through budget reallocations, through underutilised expenditures and funds that had been set aside as a buffer, Finance Minister Lawrence Wong said in Parliament on Monday.
https://www.businesstimes.com.sg/government-economy/s11b-support-package-for-phase-2-heightened-alert-to-be-funded-through-budget
https://www.straitstimes.com/singapore/politics/more-than-2-billion-to-support-those-hit-by-tighter-curbs

Business groups say roadmap boosts confidence in vaccine-enabled future
Singapore’s roadmap towards living with Covid-19 was sketched out on Monday, with curbs to be eased as soon as early August for vaccinated persons – who may also be exempt from 14-day stay-home notices (SHN) when returning from certain countries after early September.
https://www.businesstimes.com.sg/government-economy/business-groups-say-roadmap-boosts-confidence-in-vaccine-enabled-future

Business transformation key to avoid being left behind after Covid-19: Gan
The Covid-19 pandemic has wreaked havoc on almost every economy in the world, and those that respond well, adapt and transform quickly will emerge stronger and move ahead of others, Trade and Industry Minister Gan Kim Yong told Parliament yesterday.
https://www.straitstimes.com/singapore/politics/business-transformation-key-to-avoid-being-left-behind-after-covid-19-gan

Singapore still on path to normalcy and living with endemic Covid-19
Singapore is still committed to the path towards normalcy and living with Covid-19, with steps already taken to remodel healthcare protocols and businesses encouraged to facilitate vaccination and integrate the use of Antigen Rapid Test (ART) self-test kits into work processes.
https://www.businesstimes.com.sg/government-economy/singapore-still-on-path-to-normalcy-and-living-with-endemic-covid-19

Singapore factory output in June surges 27.5% from low base
Singapore’s manufacturing output rose 27.5 per cent year on year in June on a low year-ago base, but shrank 3 per cent on a seasonally-adjusted month-on-month basis, Singapore Economic Development Board figures on Monday showed.
https://www.businesstimes.com.sg/government-economy/singapore-factory-output-in-june-surges-275-from-low-base
https://www.straitstimes.com/business/economy/spore-factory-output-posts-8th-straight-month-of-growth

Beyond FTAs, Singapore developing digital economy agreements to boost connectivity resilience
Singapore has a unique historical opportunity to thrive in a more connected global economy by overcoming geopolitical and supply-chain challenges, said Education Minister Chan Chun Sing at a seminar on Monday.
https://www.businesstimes.com.sg/government-economy/beyond-ftas-singapore-developing-digital-economy-agreements-to-boost-connectivity
https://www.straitstimes.com/business/economy/spore-working-on-new-range-of-digital-economy-deals-minister

Companies’ Brief

Ascott Residence Trust almost doubles H1 DPS to 2.05 S cents despite 11% revenue drop
CapitaLand subsidiary Ascott Residence Trust (ART) Ascott Trust: HMN +1.98% on Tuesday reported a 95 per cent increase in its distribution per stapled security, at 2.05 Singapore cents – up from 1.05 cents for the year-ago period.
https://www.businesstimes.com.sg/real-estate/ascott-residence-trust-almost-doubles-h1-dps-to-205-s-cents-despite-11-revenue-drop
https://www.straitstimes.com/business/companies-markets/ascott-residence-trust-almost-doubles-first-half-dps-despite-11-revenue

Pandemic pushes CDLHT to explore lodging and accommodation assets
CDL Hospitality Trusts (CDLHT) is revising its principal investment strategy to include rental housing, student accommodation and senior housing assets, triggered by the pandemic’s severe impact on the hospitality sector.
https://www.businesstimes.com.sg/real-estate/pandemic-pushes-cdlht-to-explore-lodging-and-accommodation-assets

GIC to acquire A$620m Australia hotel portfolio with Partners Group, Salter Brothers
Singapore sovereign wealth fund GIC will acquire a portfolio of 11 Travelodge hotels in Australia with global private markets firm Partners Group and Australian hospitality operator Salter Brothers, Partners Group said in a statement on Friday.
https://www.businesstimes.com.sg/real-estate/gic-to-acquire-a620m-australia-hotel-portfolio-with-partners-group-salter-brothers
https://www.straitstimes.com/business/gic-acquiring-620m-australian-hotel-portfolio-with-two-others

Keppel DC Reit to acquire China data centre for 635.9m yuan, posts 12.5% H1 DPU growth
Keppel DC Reit is acquiring its first data centre in China for 635.9 million yuan (S$132 million), its manager said on Monday as it announced a 12.5 per cent growth in distribution per unit (DPU) to 4.924 Singapore cents for the first-half ended June 30, 2021.
https://www.businesstimes.com.sg/real-estate/keppel-dc-reit-to-acquire-china-data-centre-for-6359m-yuan-posts-125-h1-dpu-growth

Mapletree North Asia Commercial Trust Q1 net property income up 14.3% with help from new Tokyo building
Mall and office landlord Mapletree North Asia Commercial Trust (MNACT) saw its first-quarter net property income lifted by contributions from a new asset in Japan, the manager said in an update on Monday.
https://www.businesstimes.com.sg/companies-markets/mapletree-north-asia-commercial-trust-q1-net-property-income-up-143-with-help-from

Views, Reviews, Forum & Others

Businesses need to be ready for climate-change reporting
While climate change is emerging as a critical concern, our attention on the financial impacts of this change, particularly the disclosures, is still nascent. For businesses, climate change can result in unprecedented economic consequences such as business disruptions and losses in property and firm values.
https://www.businesstimes.com.sg/opinion/businesses-need-to-be-ready-for-climate-change-reporting

How to reclaim jobs for locals
In a lecture on An Inclusive Society as Institute of Policy Studies (IPS)-Nathan Fellow, managing director of the Monetary Authority of Singapore (MAS) Ravi Menon said Singapore has a choice: to remain a dual economy with high inequality…
https://www.straitstimes.com/opinion/how-to-reclaim-jobs-for-locals-0

Global Affairs: The spy on your phone
Pegasus – the software by Israeli company NSO – is making headlines for being used to hack into the mobile phones of national leaders, journalists and dissidents. The bigger issue here is not about its targets or abilities, but how to strike a balance between technological innovation and the legitimate security needs of nations.
https://www.straitstimes.com/opinion/the-spy-on-your-phone

Extension for scheme to help small firms restructure debts, wind up business
The application period for a programme to help small and micro companies restructure their debts or wind up their businesses has been extended by a year. The Simplified Insolvency Programme (SIP) will be open for application until July 28 next year, the Ministry of Law (MinLaw) announced yesterday.
https://www.straitstimes.com/business/extension-for-scheme-to-help-small-firms-restructure-debts-wind-up-business

New tripartite committee to ensure workplace fairness
A tripartite committee has been set up to ensure workplace fairness, said Manpower Minister Tan See Leng in Parliament yesterday. He was responding to MPs who spoke on strengthening the Singaporean core in the workforce and ensuring workplace fairness.
https://www.straitstimes.com/singapore/politics/new-tripartite-committee-to-ensure-workplace-fairness
https://www.straitstimes.com/singapore/politics/mps-call-for-tougher-action-against-unfair-hiring-practices
https://www.businesstimes.com.sg/government-economy/new-tripartite-committee-on-workplace-fairness-to-be-set-up-to-tackle

A split in tax system may be in Singapore’s future: tax expert
As the world moves closer to agreeing on corporate tax changes that will affect countries all across the globe – with Singapore’s own Finance Minister predicting an overhaul of the tax system – the end result for many jurisdictions could well be two separate tax regimes: one for large multinational enterprises (MNEs), and a different set of rules for all the others.
https://www.businesstimes.com.sg/global-enterprise/a-split-in-tax-system-may-be-in-singapores-future-tax-expert

How to diversify your portfolio when you’re new to the investment game
As a rookie investor, one of the most common tips you might have gotten is to diversify your investments. But what does it mean exactly and how do you get down to it? Let’s dive deeper into the nitty-gritty of diversification.
https://www.businesstimes.com.sg/hub-projects/how-to-diversify-your-portfolio-when-youre-new-to-the-investment-game

Government removed boyfriend/girlfriend category because of abuse
The abuse of a “boyfriend/girlfriend” category in applying for Vietnamese nationals to come into Singapore as partners of locals resulted in the Immigration and Checkpoints Authority (ICA) scrapping the category altogether quite quickly, said Law and Home Affairs Minister K Shanmugam on Monday.
https://www.businesstimes.com.sg/government-economy/government-removed-boyfriendgirlfriend-category-because-of-abuse
https://www.straitstimes.com/singapore/politics/abuse-of-category-for-entry-of-partners-of-locals-led-to-its-removal

Update on COVID-19 (Coronavirus Disease 2019) Situation

S’pore to review Covid-19 curbs early next month
Singapore will review its Covid-19 restrictions early next month, easing some measures if virus clusters are under control and hospitalisation rates remain low. But only vaccinated people will be allowed to take advantage of these looser restrictions, as they are “much better protected against the effects of the virus”…
https://www.straitstimes.com/singapore/politics/spore-to-review-covid-19-curbs-early-next-month

Taking a difficult but balanced approach as Covid-19 frustration grows
At 12.01am on July 19, the start of “Freedom Day” in Britain, partygoers packed heaving dance clubs to celebrate the end of Covid-19 lockdowns. But the reopening has been marred by surging infections – about 50,000 a day – and warnings of overwhelmed hospitals.
https://www.straitstimes.com/singapore/politics/taking-a-difficult-but-balanced-approach-as-covid-19-frustration-grows

129 new locally transmitted Covid-19 cases; 61 linked to Jurong Fishery Port
[Singapore] There were 129 new locally transmitted coronavirus cases as at Monday noon (July 26), including 61 cases connected to the growing cluster linked to Jurong Fishery Port. This brings the total number of cases in the Jurong Fishery Port cluster to 853.
https://www.businesstimes.com.sg/government-economy/129-new-locally-transmitted-covid-19-cases-61-linked-to-jurong-fishery-port
https://www.straitstimes.com/singapore/10-new-clusters-found-61-more-cases-linked-to-fishery-port

Signs of situation stabilising at Jurong Fishery Port cluster
While there have been more than 100 Covid-19 infections daily over the past few days, including those linked to the Jurong Fishery Port cluster, the situation is stabilising, with the number of cases falling, said Health Minister Ong Ye Kung.
https://www.straitstimes.com/singapore/politics/signs-of-situation-stabilising-at-jurong-fishery-port-cluster

Gaps in safety measures at Jurong Fishery Port will be rectified
Gaps in safe management measures at Jurong Fishery Port (JFP), such as lapses in mask wearing, will be rectified before the port is reopened, Minister for Sustainability and the Environment Grace Fu said in Parliament yesterday.
https://www.straitstimes.com/singapore/politics/gaps-in-safety-measures-at-jurong-fishery-port-will-be-rectified

Govt acknowledges shift in curbs caused ‘some confusion’
The Government acknowledges that the recent shift in Covid-19 measures, which saw Singapore return to phase two (heightened alert), has caused “some confusion” among members of the public, Health Minister Ong Ye Kung said in Parliament yesterday.
https://www.straitstimes.com/singapore/politics/govt-acknowledges-shift-in-curbs-caused-some-confusion

All households here to get DIY antigen rapid test kits
All households here will receive Covid-19 self-test kits, as Singapore scales up its testing regimen and works to live with the coronavirus. These antigen rapid test (ART) kits, now widely available at retailers, are being distributed by the Government to households and will be rolled out first to those near large Covid-19 clusters, said Finance Minister Lawrence Wong in Parliament yesterday.
https://www.straitstimes.com/singapore/politics/all-households-here-to-get-diy-antigen-rapid-test-kits

Travel with fewer curbs could be possible from early Sept
Overseas travel with fewer restrictions could become a reality after early September, when Singapore aims to get about 80 per cent of its population fully vaccinated against Covid-19. By that time, larger groups may also be allowed to congregate, especially if they are fully vaccinated…
https://www.straitstimes.com/singapore/politics/travel-with-fewer-curbs-could-be-possible-from-early-sept

More vaccinated patients to go straight to care facilities
More vaccinated people who have Covid-19 – but with no symptoms or mild ones – will be admitted directly to community care facilities, instead of first going to hospitals, said Health Minister Ong Ye Kung yesterday. Fully vaccinated people with Covid-19 are also being discharged after 14 days, instead of 21 days, with leave of absence of seven days, he said.
https://www.straitstimes.com/singapore/politics/more-vaccinated-patients-to-go-straight-to-care-facilities

Vending machines for TraceTogether token replacement
Faulty TraceTogether tokens can be replaced at vending machines that will be rolled out at more than 100 community centres and selected malls over the coming months. The first two machines were deployed at two malls – Nex in Serangoon and Sun Plaza in Sembawang…
https://www.straitstimes.com/singapore/community/vending-machines-for-tracetogether-token-replacement

Firms urged to help staff get vaccinated
Businesses here should help eligible employees get vaccinated, integrate the use of antigen rapid tests into work processes, and continue flexible work arrangements as Singapore transits towards living with endemic Covid-19.
https://www.straitstimes.com/singapore/politics/firms-urged-to-help-staff-get-vaccinated

*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