DAILY NEWS

Daily News – 21 June 2022 (Tue)

Singapore Real Estate

Nearly 2 in 3 S-Reits are faring worse than at IPO, but total returns mostly positive
Investors in Singapore-listed real estate investment trusts (S-Reits) may be understandably upset as they look at their portfolio performance. Real estate investment trusts (Reits) have been a favoured asset class for investors here seeking stability and yield. But ahead of the 20th anniversary of S-Reits coming up in July, nearly two-thirds of the 41 actively traded S-Reits and property trusts have sunk below their initial public offering (IPO) prices after adjusting for corporate actions.
https://www.businesstimes.com.sg/companies-markets/nearly-2-in-3-s-reits-are-faring-worse-than-at-ipo-but-total-returns-mostly

Frasers Hospitality Trust falls to a confluence of headwinds – are more S-Reits at risk?
Just a month shy of 8 years since its initial public offering (IPO), the managers of Frasers Hospitality Trust (FHT) are ready to call it quits. FHT on Jun 13 announced a proposed privatisation by its sponsor group. Under the scheme of arrangement, the offeror – a wholly owned subsidiary of real estate giant Frasers Property Limited (FPL) – will pay S$0.70 in cash for each FHT stapled security that FPL and TCC Group Investments do not already hold.
https://www.businesstimes.com.sg/opinion/frasers-hospitality-trust-falls-to-a-confluence-of-headwinds-are-more-s-reits-at-risk

Singapore Economy

Singapore joins other places with laws regulating online content
Video “challenges” which ask viewers to film themselves doing dangerous acts can go viral rapidly through social media platform algorithms and user interest, and lead to injuries and deaths. Terrorist acts captured on videos through live-streaming can have their impact exacerbated when these clips are reshared online.
https://www.businesstimes.com.sg/government-economy/singapore-joins-other-places-with-laws-regulating-online-content
https://www.straitstimes.com/singapore/spore-joins-other-places-that-have-enacted-or-proposed-laws-to-regulate-online-content

Singapore civil servants to get mid-year bonus of 0.35 month, up from 0.3 month in 2021
The Singapore civil service will pay a mid-year bonus of 0.35 month for all officers, the Public Service Division (PSD) said on Monday (Jun 20) – up from the 0.3-month payout in the year before. The PSD said that the payment takes into account the official gross domestic product forecast for 2022, with growth likely to fall between 3 per cent and 4 per cent.
https://www.businesstimes.com.sg/government-economy/singapore-civil-servants-to-get-mid-year-bonus-of-035-month-up-from-03-month-in
https://www.straitstimes.com/singapore/jobs/singapore-civil-servants-to-get-035-month-mid-year-bonus

Companies’ Brief

Keppel DC Reit to acquire 2 China data centres for 1.6 billion yuan
Keppel DC Reit has entered into conditional transactions to acquire 2 data centres in Guangdong, China, for a total price of about 1.6 billion yuan (S$338.3 million), the company said in a bourse filing on Monday (Jun 20).
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-to-acquire-2-china-data-centres-for-16-billion-yuan
https://www.straitstimes.com/business/companies-markets/keppel-dc-reit-to-acquire-two-china-data-centres-for-338-million

Knight Frank recalls ‘discriminatory’ security officer job tender, to re-issue updated requirements
Knight Frank Property Management has recalled all tender documents for the provision of security services at Spring Grove Condominium, after an association representing companies in the security industry flagged that the documents included discriminatory requirements.
https://www.businesstimes.com.sg/government-economy/knight-frank-recalls-discriminatory-security-officer-job-tender-to-re-issue
https://www.straitstimes.com/singapore/jobs/knight-frank-apologises-retracts-tender-documents-after-discriminatory-hiring-practices-flagged-by-security-association

Views, Reviews, Forum and Others

Shareholders should ask about succession planning at AGMs
It is encouraging to hear anecdotal testimony from corporate governance advocates that shareholders attending annual general meetings (AGMs), either virtually or in person, are asking more pertinent questions of their managements.
https://www.businesstimes.com.sg/opinion/shareholders-should-ask-about-succession-planning-at-agms

As technology matures, smart cities take a more nuanced, human-centred approach
More than a decade since the idea of smart cities emerged, the concept has become more nuanced in a shift to meet new goals and overcome challenges that have appeared along the way. Instead of a strong focus on technology, from 5G to the Internet of Things (IoT)…
https://www.businesstimes.com.sg/opinion/as-technology-matures-smart-cities-take-a-more-nuanced-human-centred-approach

Update on COVID-19 (Coronavirus Disease 2019) situation

askST: Should I get my second booster jab? Will my vaccinated status lapse if I don’t?
Singapore – The Ministry of Health (MOH) announced earlier this month that there will soon be changes to Covid-19 treatment subsidies, and that second Covid-19 vaccine booster jabs will be offered to those aged 50 and above.
https://www.straitstimes.com/singapore/health/askst-should-i-get-my-second-covid-19-booster-jab

‘Don’t delay any more’: 80,000 seniors urged to take booster shots with possible new Covid-19 wave
Singapore – Seniors who have taken their vaccine booster shots are three times less likely to die or become severely ill from Covid-19, compared with those in the same cohort who had only two shots, said Health Minister Ong Ye Kung on Monday (June 20).
https://www.straitstimes.com/singapore/health/seniors-with-covid-19-booster-shots-3-times-less-likely-to-die-or-become-critically-ill-ong-ye-kung

MOH studying use of Pfizer, Moderna Covid-19 vaccines for kids under 5
Singapore – The Ministry of Health (MOH) and the Expert Committee on Covid-19 Vaccination are currently studying the safety and effectiveness of both the Pfizer-BioNTech and Moderna Covid-19 vaccines in young children under the age of five.
https://www.straitstimes.com/singapore/health/use-of-pfizer-moderna-covid-19-vaccines-for-children-younger-than-five-being-studied-moh

*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