DAILY NEWS

Daily News – 7 October 2021 (Wed)

Singapore Real Estate

The red-hot bungalow market: who’s buying and selling in 2021
Good Class Bungalows (GCBs) are seen as Singapore’s highest-end places to live. Their hefty land area coverage and prime locations (Districts 10 and 11, as well as the bungalow estates of districts 20, 21 and 23) also make them extra attractive to the super-rich.
https://www.businesstimes.com.sg/real-estate/the-red-hot-bungalow-market-whos-buying-and-selling-in-2021

The changing face of Singapore retail
The retail industry has been grappling with challenges on multiple fronts over the last decade, such as manpower shortages, competition from e-commerce and a plateau in retail dynamism. The Covid-19 pandemic and its accompanying safety and border restrictions have inevitably shaken the retail industry.
https://www.businesstimes.com.sg/real-estate/the-changing-face-of-singapore-retail

Lee Hsien Yang and wife sell Caldecott bungalow for S$13m; list another for S$16.8m
[Singapore] Lee Hsien Yang and his wife, Lee Suet Fern, have sold a two-storey bungalow in the Caldecott Hill good class bungalow (GCB) area for S$13 million, and put another nearby bungalow on the market for S$16.8 million.
https://www.businesstimes.com.sg/real-estate/lee-hsien-yang-and-wife-sell-caldecott-bungalow-for-s13m-list-another-for-s168m
https://www.straitstimes.com/business/property/lee-hsien-yang-and-wife-sold-bungalow-in-caldecott-close-for-13m-listed-another

Companies’ Brief

GuocoLand needs to wow the market with a growth story
The mainboardlisted group’s Guoco Tower in Tanjong Pagar, completed a few years ago, showcases the group’s ability to deliver an integrated mixed-use project that has transformed and uplifted the locale. In the Beach Road area, Guoco Midtown is poised to have a similar effect.
https://www.businesstimes.com.sg/companies-markets/guocoland-needs-to-wow-the-market-with-a-growth-story

Hatten Land to develop token system, NFTs for digital tourism in Melaka
Property developer Hatten Land’s subsidiary, Hatten Technology, has signed an agreement with Prakal – known as EnjinStarter – to develop a token system that helps promote a digital economy in Melaka, Malaysia.
https://www.businesstimes.com.sg/companies-markets/hatten-land-to-develop-token-system-nfts-for-digital-tourism-in-melaka
https://www.straitstimes.com/business/companies-markets/hatten-land-to-develop-token-system-nfts-for-digital-tourism-in-malacca

JustCo Singapore suffers legal defeat, contract terms ‘grossly unfair’ to tenant
Co-working operator JustCo (Singapore) has lost a lawsuit brought by cybersecurity software company Dathena Science, in what might be the city-state’s first such case that has resulted from pandemic-related measures.
https://www.businesstimes.com.sg/real-estate/justco-singapore-suffers-legal-defeat-contract-terms-grossly-unfair-to-tenant

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1464

Views, Reviews, Forum & Others

Covid’s lessons for the construction industry
Had the Covid-19 (Temporary Measures) Act 2020 ended on schedule last week on Sept 30, the construction industry would have been roiled by further uncertainty. This is an industry that already has been plagued by delays, a general drop in productivity, and rising manpower and materials costs.
https://www.businesstimes.com.sg/opinion/covids-lessons-for-the-construction-industry

Economic Affairs: The bumpy road to a green economy
During the year to date, the share price of Peabody Energy, the world’s largest private coal producer, has risen more than sixfold, making it one of the best investments among energy companies or indeed, any industry category.
https://www.straitstimes.com/opinion/the-bumpy-road-to-a-green-economy
https://www.straitstimes.com/opinion/memo-to-countries-going-green-dont-be-like-the-uk

The Covid inflation scare
Consumer price inflation in the eurozone accelerated further in September to a 13-year high of 3.4 per cent year-on-year, prompting a wave of alarmed headlines. Annual inflation in the United States stood at 5.3 per cent in August.
https://www.businesstimes.com.sg/opinion/the-covid-inflation-scare

Using the scorching sun to cool us is the wave of the future, as Singapore showcases
Many believe that protectionism, populism, and the pandemic mean we have reached peak migration, but let us look at the economics. Over the past half century, governments have borrowed to the tune of US$250 trillion (more than triple the global gross domestic product) to finance everything from roads to retirement plans.
https://www.businesstimes.com.sg/opinion/using-the-scorching-sun-to-cool-us-is-the-wave-of-the-future-as-singapore-showcases

Singapore to host Asia conference for leaders of multi-billion-dollar Mice industry
Singapore – A new annual summit for regional leaders in the lucrative meetings, incentives, conventions and exhibitions (Mice) industry will be hosted by Singapore over the next three years. The first iteration of the Asia CEO Summit will be held at The Fullerton Hotel next year, with about 150 corporate leaders attending…
https://www.straitstimes.com/singapore/consumer/singapore-to-host-asia-conference-for-leaders-of-multi-billion-dollar-mice

Travellers more frustrated with flight, border restrictions: Iata survey
Singapore – Air travellers are increasingly frustrated with Covid-19 travel restrictions, with most feeling that country borders should be opened now and travel freedom must be restored. Those were the findings of a September survey of 4,700 respondents from 11 different markets, conducted by the International Air Transport Association (Iata).
https://www.straitstimes.com/business/economy/travellers-more-frustrated-with-flight-border-restrictions-iata-survey

Bitcoin bulls eye fresh peaks after bucking global market swoon
Animal spirits are stirring again for Bitcoin after the token surged about 25 per cent in the past seven days toward levels last seen five months ago. The rally contrasts with the more pedestrian recent performance of traditional assets like stocks, bonds and gold in a period of angst over high inflation and slowing economic growth.
https://www.businesstimes.com.sg/banking-finance/bitcoin-bulls-eye-fresh-peaks-after-bucking-global-market-swoon-0

Singapore must embrace global ESG movements to stay competitive: SGX sustainability head
To remain competitive as an Asian financial hub, Singapore companies must ride a “seismic shift” in capital and embrace the systemic push towards environmental, social and governance (ESG) investments, said Herry Cho, managing director and head of sustainability and sustainable finance at the Singapore Exchange (SGX).
https://www.businesstimes.com.sg/companies-markets/singapore-must-embrace-global-esg-movements-to-stay-competitive-sgx-sustainability

US pushing Singapore to let American visitors enter freely
American officials are pushing the Singapore government to open a travel lane so visitors from the United States can enter the city-state with the same sort of freedoms travellers from Singapore get in the US, according to people familiar with the matter.
https://www.businesstimes.com.sg/transport/us-pushing-singapore-to-let-american-visitors-enter-freely

Update on COVID-19 (Coronavirus Disease 2019) Situation

102-year-old woman among three new Covid-19 deaths; 3,577 new cases
[Singapore] Three seniors aged between 68 and 102 are the latest to die from complications linked to Covid-19, the Ministry of Health (MOH) said on Wednesday (Oct 6). All were Singaporean women who were unvaccinated.
https://www.businesstimes.com.sg/government-economy/102-year-old-woman-among-three-new-covid-19-deaths-3577-new-cases
https://www.straitstimes.com/singapore/health/102-year-old-woman-among-3-new-covid-19-deaths-3577-new-cases

S’pore will stay the course in its reopening when new Covid-19 case numbers stabilise: Experts
Singapore – A week after Singapore entered a stabilisation phase on Sept 27, it saw new Covid-19 infection numbers breach the 3,000 figure for the first time, sparking concern among some of the impact on the healthcare system.
https://www.straitstimes.com/singapore/health/spore-will-stay-the-course-in-its-reopening-when-new-covid-19-case-numbers

Companies can manage WFH fatigue by staying agile, prioritising staff well-being: Experts
Singapore – Work arrangements remain in a state of flux as the pandemic wears on and authorities continue to uncover safety breaches at workplaces but companies can manage fatigue by staying agile and prioritising staff well-being, say experts.
https://www.straitstimes.com/business/companies-can-manage-wfh-fatigue-by-staying-agile-prioritising-staff-well-being-experts

Asean collaboration, investment in scientific research needed for better pandemic response: Expert
Singapore – Asean countries need to work together and invest in scientific research so they can come up with treatments and vaccines better tailored to their populations in future pandemics.
https://www.straitstimes.com/singapore/regional-collaboration-in-asean-countries-investment-in-scientific-research-needed-for

Future pandemic could stem from coronavirus transmitted from humans back to bat: Expert
Singapore – A new challenge that countries may possibly face in the future is the emergence of a new Sars-CoV-3 virus arising from humans transmitting the coronavirus back to bats.
https://www.straitstimes.com/singapore/health/future-pandemic-could-stem-from-coronavirus-transmitted-from-humans-back-to-bat

Singapore inks deal for antiviral pill to treat Covid-19 and variants
The Republic has inked a supply and purchase agreement for an antiviral pill to treat Covid-19 that is said to be effective against all known variants of the virus, including the Delta variant.
https://www.businesstimes.com.sg/government-economy/singapore-inks-deal-for-antiviral-pill-to-treat-covid-19-and-variants
https://www.straitstimes.com/singapore/singapore-inks-deal-for-antiviral-pill-to-treat-covid-19-and-its-variants

*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