DAILY NEWS

Daily News – 23 November 2021 (Tue)

Singapore Real Estate

Elizabeth Towers up for collective sale with S$630m reserve price
Elizabeth Towers at Mount Elizabeth in Orchard Road has been put up for collective sale, with a reserve price of S$630 million. The freehold residential site occupies a rare corner plot with a site area of 54,317.9 square feet (sq ft), according to sole marketing agent Edmund Tie & Company’s press statement on Nov 22.
https://www.businesstimes.com.sg/real-estate/elizabeth-towers-up-for-collective-sale-with-s630m-reserve-price-0
https://www.businesstimes.com.sg/real-estate/elizabeth-towers-up-for-collective-sale-with-s630m-reserve-price

More property executives cite rising construction costs as key risk: poll
Rising construction costs continue to be the biggest risk faced by Singapore’s real estate market, followed by increasing inflation and interest rates. This is according to the Q3 2021 Real Estate Sentiment Index published by the National University of Singapore Real Estate (NUS+RE), which represents the Department of Real Estate and the Institute of Real Estate and Urban Studies (IREUS) at the university.
https://www.businesstimes.com.sg/real-estate/more-property-executives-cite-rising-construction-costs-as-key-risk-poll
https://www.straitstimes.com/business/economy/more-property-executives-cite-rising-construction-costs-as-key-risk-poll

Singapore Economy

Singapore boosts supply chain resilience at ITAP 2021, A*Star invests S$18m
Singapore’s manufacturing industry received a boost on Monday (Nov 22) with the government and corporates inking a slew of agreements to strengthen supply chains at the Industrial Transformation Asia-Pacific (ITAP) 2021.
https://www.businesstimes.com.sg/government-economy/singapore-boosts-supply-chain-resilience-at-itap-2021-astar-invests-s18m
https://www.straitstimes.com/business/18m-investment-in-tech-research-to-help-keep-supply-chains-agile-secure

Timely for Asean, China to work on reopening borders to one another: PM Lee
As countries in the region make progress on vaccination, it is timely that Asean and China should work on progressively reopening borders to one another, said Prime Minister Lee Hsien Loong on Monday (Nov 22). This includes developing digital, interoperable and secure solutions to facilitate the mutual recognition of vaccination certificates.
https://www.businesstimes.com.sg/government-economy/timely-for-asean-china-to-work-on-reopening-borders-to-one-another-pm-lee
https://www.straitstimes.com/singapore/politics/timely-for-asean-china-to-work-on-reopening-borders-to-one-another-pm-lee

Rising inflation worldwide is raising concerns over strength of economic recovery
Singapore – As consumer prices keep edging up worldwide, higher inflation threatens to become a more lasting legacy of the economic recovery from the Covid-19 downturn. The combined effect of lingering Covid-19 curbs and the unprecedented fiscal and monetary stimulus has upset the fine balance…
https://www.straitstimes.com/business/economy/debrief-rising-inflation-worldwide-is-raising-concerns-over-strength-of-economic

Views, Reviews, Forum & Others

Can prime HDB flats ‘sleigh’ the Orchard Road ennui?
Christmas in Singapore comes early, with festivities already in full swing. Themed “Christmas in Bloom”, this year’s Christmas light-up in Orchard Road sees the shopping street set aglow with fairy lights and oversized floral decorations.
https://www.businesstimes.com.sg/opinion/can-prime-hdb-flats-sleigh-the-orchard-road-ennui

There is no easy escape from the global debt trap
One of the big mysteries in the global economy is why, though inflation is making a strong comeback, long-term interest rates have barely budged in recent months. So far analysts have explained this odd market behaviour as a symptom of the pandemic, driven by fear of another surge in cases…
https://www.businesstimes.com.sg/opinion/there-is-no-easy-escape-from-the-global-debt-trap

Can data and data analytics solve the climate crisis?
We don’t need to be climatologists to notice the extreme temperatures and frequent natural disasters in the news. With more extreme weather on the rise, there is no surprise why the UN’s Intergovernmental Panel on Climate Change (IPCC) issued “Code Red for humanity” in its recent report, which warns of increasingly extreme heatwaves, droughts and flooding…
https://www.businesstimes.com.sg/opinion/can-data-and-data-analytics-solve-the-climate-crisis

Staying mindful as festive season nears
Singaporeans will welcome the latest relaxation of curbs on dining out, household visits and some social activities. The easing is a sign that the country is getting back on track towards its goal of living with the coronavirus after nearly two months of stabilisation measures.
https://www.straitstimes.com/opinion/st-editorial/staying-mindful-as-festive-season-nears

Over 40,000 owners, tenants to get 3rd round of rental aid worth over $470 million from Nov 26
Singapore – More than 40,000 tenants and owner-occupiers will receive payouts worth over $470 million from Friday (Nov 26) in a move to support businesses with rental costs incurred during the almost two-month long stabilisation phase that ended on Sunday (Nov 21).
https://www.straitstimes.com/singapore/consumer/over-40000-owners-tenants-to-get-3rd-round-of-rental-aid-worth-over-470-million
https://www.businesstimes.com.sg/government-economy/over-s470m-in-third-round-of-rent-support-to-be-disbursed-from-nov-26

Update on COVID-19 (Coronavirus Disease 2019) Situation

1,461 Covid-19 cases and 5 deaths reported in Singapore
[Singapore] There were 1,461 new Covid-19 infections reported in Singapore on Monday (Nov 22), down from 1,670 on Sunday. The Covid-19 weekly infection growth rate stood at 0.79, slightly down from 0.81 on Sunday, said the Ministry of Health (MOH) in its nightly update.
https://www.businesstimes.com.sg/government-economy/1461-covid-19-cases-and-5-deaths-reported-in-singapore
https://www.straitstimes.com/singapore/health/1461-covid-19-cases-and-5-deaths-reported-in-singapore

No Covid-19 clusters linked to Mice events in recent months: STB
Singapore – There has been no Covid-19 cluster linked to meetings, incentives, conferences and exhibitions (Mice) events here in the last few months, a sign that the preventative steps taken by the country have allowed events to be held safely.
https://www.straitstimes.com/business/no-covid-19-clusters-linked-to-mice-events-in-recent-months-stb

Eateries in Singapore welcome back groups of up to 5 people vaccinated against Covid-19
Singapore – When housewife Judy Seah, 65, learnt on Saturday (Nov 20) that she could dine in from Monday with her extended family, she immediately texted them to organise lunch.
https://www.straitstimes.com/singapore/consumer/eateries-in-singapore-welcome-back-groups-of-up-to-5-people-vaccinated-against

SingapoRediscovers vouchers valid till March 2022, but bookings must be made by December
Singapore – Singaporeans can use their SingapoRediscovers Vouchers (SRV) for eligible attractions, hotels and tours until March 31 next year, but bookings must still be made by Dec 31 this year. The Singapore Tourism Board (STB) said on Monday (Nov 22) the extension will give Singaporeans more time to enjoy the vouchers.
https://www.straitstimes.com/singapore/consumer/singaporediscovers-vouchers-valid-till-march-2022-but-bookings-must-be-made-by

*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