DAILY NEWS

Daily News – 30 Mar 2022 (Wed)

Singapore Real Estate

Portfolio of 18 strata units at Orchard Shopping Centre for sale at S$90m indicative price
A portfolio of 18 strata-titled retail units at Orchard Shopping Centre is being put up for sale via an expression of interest exercise with an indicative price of S$90 million, said exclusive marketing agent CBRE on Tuesday (Mar 29).
https://www.businesstimes.com.sg/real-estate/portfolio-of-18-strata-units-at-orchard-shopping-centre-for-sale-at-s90m-indicative-0

Singapore CBD Grade A office rents book fastest quarterly growth since recovery: JLL
Grade A office rents in Singapore’s Central Business District (CBD) continued their steady upward momentum in Q1 2022 to register their highest pace of growth since rents turned around in Q2 2021, according to JLL Singapore.
https://www.businesstimes.com.sg/real-estate/singapore-cbd-grade-a-office-rents-book-fastest-quarterly-growth-since-recovery-jll

Companies’ Brief

CDL to make ‘significant gains’ from sale of Tanglin Shopping Centre
Property developer City Developments Ltd (CDL) said in a bourse filing early on Wednesday (Mar 30) that it expects to make a “significant gain” from its sale of Tanglin Shopping Centre to Hillthorpe Investments, an investment vehicle of Pacific Eagle Real Estate.
https://www.businesstimes.com.sg/companies-markets/cdl-to-make-significant-gains-from-sale-of-tanglin-shopping-centre
https://www.straitstimes.com/business/companies-markets/cdl-to-make-a-significant-gain-from-sale-of-tanglin-shopping-centre

Yanlord pauses construction on Shanghai projects; property management staff on frontline
Although the lockdown in Shanghai is expected to affect the operations of Yanlord Land Group in the short term, the Singapore-listed, Chinese property developer intends to speed things up when the restrictions ease, it said in response to The Business Times’ (BT) queries.
https://www.businesstimes.com.sg/companies-markets/yanlord-pauses-construction-on-shanghai-projects-property-management-staff-on

Singapore firms keeping close eye on Shanghai lockdown
Several Singapore-listed companies, including CapitaLand Investment (CLI), Yanlord Land Group and Nanofilm Technologies, are keeping a close eye on the situation in Shanghai, though most of them do not anticipate a major impact from the Chinese financial hub’s lockdown.
https://www.businesstimes.com.sg/companies-markets/singapore-firms-keeping-close-eye-on-shanghai-lockdown

Views, Reviews, Forum and Others

Realising Singapore’s ambitions to become the Little Green Dot
As announced by Finance Minister Lawrence Wong on Feb 18, “Budget 2022” further underscored Singapore’s commitment to tackling climate change. Citing advances in technology and opportunities for international collaboration as enablers…
https://www.businesstimes.com.sg/opinion/realising-singapores-ambitions-to-become-the-little-green-dot

How the war in Ukraine could reset global economy
Economics has imported a concept from physics called “hysteresis”. It is the idea that the effects of an event can persist even after the event passes. We saw this during Covid-19.
https://www.straitstimes.com/opinion/economicaffairs-how-the-war-could-reset-global-economy

China property: Unstable foundations
Equity prices of China’s battered property developers have rallied strongly – up an extraordinary 31 per cent since Mar 15 – on the back of surprise statements from regulators at last week’s 2022 National People’s Congress that the structural crisis besetting the housing sector was set to ease, and operating conditions stabilise.
https://www.businesstimes.com.sg/wealth-investing/china-property-unstable-foundations-0

Update on COVID-19 (Coronavirus Disease 2019) Situation

8,164 new Covid-19 cases in Singapore, 728 patients in hospitals
[Singapore] The number of daily new Covid-19 infections in Singapore climbed to 8,164 on Tuesday (March 29), up from the 4,925 cases the day before (March 28). Case numbers on Tuesdays tend to be higher compared with the rest of the week as they reflect the spike in infections after the weekend when more people are out in various social settings.
https://www.businesstimes.com.sg/government-economy/8164-new-covid-19-cases-in-singapore-728-patients-in-hospitals
https://www.straitstimes.com/singapore/health/8164-new-covid-19-cases-in-spore-728-patients-in-hospitals

S’pore Medical Council stops doctor from promoting ivermectin as treatment for Covid-19
Singapore – The Singapore Medical Council (SMC) has stopped a doctor from promoting or prescribing the drug ivermectin for the treatment or prevention of Covid-19. The SMC is looking into the behaviour of Dr Yang Ing Woei, a general practice doctor, after it was alerted by the Ministry of Health (MOH) on Nov 25 last year.
https://www.straitstimes.com/singapore/health/spore-medical-council-stops-doctor-from-promoting-ivermectin-as-treatment-for-covid-19

Buzz returns to live music and F&B venues on Day 1 of easing of Covid-19 curbs
Singapore – From live music sets to spontaneous 10.30pm countdowns and cheers, Singapore’s nightlife got off to a relatively rousing return on Tuesday evening (March 29) as curbs were lifted on live entertainment and on the consumption of alcohol past 10.30pm at licensed establishments.
https://www.straitstimes.com/singapore/consumer/buzz-returns-to-live-music-venues-fb-venues-on-day-1-of-easing-of-curbs

*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