DAILY NEWS

Daily News – 19 November 2021 (Fri)

Singapore Real Estate

Strong demand for 4-room Rochor BTO flats under prime housing model, a day after launch
Singapore – Buyers made a beeline for four-room flats in the first Build-To-Order (BTO) project under a new prime location public housing (PLH) model, with these units drawing three times the number of applicants than units available just a day after they were launched for sale on Wednesday (Nov 17).
https://www.straitstimes.com/singapore/housing/four-room-rochor-bto-flats-under-prime-housing-model-oversubscribed-by-3-times-a

Only time will tell if tougher rules on prime area HDB flats can curb ‘lottery effect’
Singapore – Depending on whom you ask, Rochor could be an arts and heritage district, a late-night supper spot or a pitstop on the way to the nearby Bugis area – what it won’t be called is ‘home’. But the launch of Build-To-Order (BTO) flats in a coveted spot next to Jalan Besar MRT station means 960 households will be able to call the area just that once units are completed in 2028.
https://www.straitstimes.com/singapore/housing/only-time-will-tell-if-tougher-rules-on-prime-area-hdb-flats-can-curb-lottery

Singapore Economy

GST hike could feature in Budget 2022, kick in as soon as July: economists
The upcoming goods and services tax (GST) hike may be announced in the next Budget and implemented as early as July 2022, said some economists, with the economic outlook now robust enough to allow such a move. “From an economic standpoint, the door is already open,” said DBS senior economist Irvin Seah.
https://www.businesstimes.com.sg/government-economy/gst-hike-could-feature-in-budget-2022-kick-in-as-soon-as-july-economists

Restaurant Association of Singapore president wants dining-in cap raised to 8
The Restaurant Association of Singapore (RAS) on Thursday (Nov 18) called for the government to raise the capacity for dining-in at food and beverage (F&B) establishments to 8 people, in order to help the battered industry get back on its feet.
https://www.businesstimes.com.sg/government-economy/restaurant-association-of-singapore-president-wants-dining-in-cap-raised-to-8

Mice industry in S’pore gets lift from Restaurant Asia 2021, expected to draw 1,000 visitors a day
Singapore – Singapore’s economic recovery has taken another big step forward with the start of Restaurant Asia 2021 on Thursday (Nov 18) – which is expected to be the largest meetings, incentives, conventions and exhibitions (Mice) event held here to date since Covid-19 curbs were eased.
https://www.straitstimes.com/singapore/consumer/mice-industry-in-spore-gets-lift-from-restaurant-asia-2021-that-is-expected-to

Companies’ Brief

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1504

Views, Reviews, Forum & Others

What I wish I knew at 25 about buying property
I bought my first property at the age of 25. This was in the early 1990s, when the property market was stabilising after the recession of the mid-1980s, and just before prices began to rise sharply in the later part of the decade.
https://www.straitstimes.com/opinion/what-i-wish-i-knew-at-25-about-buying-property

Covid-19 is complicating inflation fight
Amid growing concerns about rising inflation, United States Treasury Secretary Janet Yellen implicitly acknowledged the difficulty of dealing with the problem, when she said over the weekend that the key lies in getting Covid-19 under control.
https://www.straitstimes.com/opinion/st-editorial/covid-19-is-complicating-inflation-fight

Greenwashing: Singapore’s next frontier of investor protection
The just-concluded COP26 did not offer much in terms of progress on the sustainable finance landscape. This landscape warrants our attention due to recent greenwashing brouhaha such as the DWS Group scandal.
https://www.businesstimes.com.sg/opinion/greenwashing-singapores-next-frontier-of-investor-protection

Costs and carbons: A different view of ESG
Why it took so long to discover that some form of carbon kills is not clear. I had to drive from one side of the city to the other on my motorbike in the Great Smog of London in December 1952. The smog killed 12,000 people, damaged my motorbike and started a ban on open coal fires in UK towns.
https://www.businesstimes.com.sg/leadership-management/costs-and-carbons-a-different-view-of-esg

Global food prices to stay high on labour crunch: Cargill CEO
Food prices will likely stay elevated in 2022 as disruptions to the global supply chain are set to persist, said the head of Cargill, who highlighted labour shortages as one of the biggest risks facing the industry. Whether it is meat processors, truckers, warehouse operators or port staff, the global food system is seeing more competition for workers.
https://www.businesstimes.com.sg/consumer/global-food-prices-to-stay-high-on-labour-crunch-cargill-ceo

Good progress in talks on reopening of S’pore-Malaysia land borders: MTI
VTLs are generally unilateral moves by Singapore to allow entry into the Republic. The only exception is for Malaysia and South Korea, which Singapore had jointly launched VTLs with for air travel in both directions.
https://www.straitstimes.com/singapore/transport/good-progress-in-talks-on-reopening-of-spore-malaysia-land-border-workers-a

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore records 2,038 new Covid-19 cases, ICU utilisation rate at 58.8%
[Singapore] There were 2,038 new Covid-19 infections reported in Singapore on Thursday (Nov 18), down from 3,474 the day before, said the Ministry of Health (MOH). The Covid-19 weekly infection growth rate was at 0.90, up slightly from 0.89 on Wednesday.
https://www.businesstimes.com.sg/government-economy/singapore-records-2038-new-covid-19-cases-icu-utilisation-rate-at-588
https://www.straitstimes.com/singapore/spore-records-2038-new-covid-19-cases-icu-utilisation-rate-at-588

Singapore business events bounce back post Covid-19, Hong Kong flounders
[Singapore] Singapore is hosting top executives of big global companies this week at a host of conferences, marking its gradual return to normalcy and underscoring the contrast with long-time rival Hong Kong, which is sticking with some of the toughest quarantine rules in the world.
https://www.businesstimes.com.sg/government-economy/singapore-business-events-bounce-back-post-covid-19-hong-kong-flounders

Six airlines to operate VTL flights between S’pore and KL from Nov 29
Singapore – Travellers will be able to choose from six designated services in each direction when the Malaysia-Singapore quarantine-free air travel scheme kicks off on Nov 29.
https://www.straitstimes.com/singapore/transport/six-airlines-to-operate-vtl-services-between-spore-and-kl-from-nov-29

*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