DAILY NEWS

Daily News – 29 June 2022 (Wed)

Singapore Real Estate

Two major private home launches slated for July
After 9 years in the rental market, luxury development Cape Royale at Sentosa Cove is now being launched for sale. Joint developers IOI Properties and Ho Bee Land will start sale previews for the 99-year-leasehold project on Tuesday (Jun 28), and begin bookings on July 6 with prices starting from $2,103 per square foot (psf).
https://www.businesstimes.com.sg/real-estate/two-major-private-home-launches-slated-for-july
https://www.straitstimes.com/business/property/two-major-private-home-launches-slated-for-july

Bukit Batok EC site launched for tender, market watchers foresee keen developer interest
An executive condominium (EC) site at Bukit Batok West Avenue 5 has been launched for sale by public tender under the confirmed list of the H1 2022 Government Land Sales programme. According to a Tuesday (Jun 28) press statement by the Housing & Development Board (HDB), the site can potentially yield about 495 residential units on the 99-year leasehold site.
https://www.businesstimes.com.sg/real-estate/bukit-batok-ec-site-launched-for-tender-market-watchers-foresee-keen-developer-interest
https://www.straitstimes.com/business/property/bukit-batok-ec-site-launched-for-tender-market-watchers-foresee-keen-developer-interest

Sun Venture in exclusive due diligence to buy Bugis Junction Towers; office deals gather steam
The Singapore commercial property market continues to buzz. One of the latest deals is that for Bugis Junction Towers, where Sun Venture Group is said to be doing exclusive due diligence with a view to buy the 15-storey office block for between S$675 million and S$680 million.
https://www.businesstimes.com.sg/real-estate/sun-venture-in-exclusive-due-diligence-to-buy-bugis-junction-towers-office-deals-gather

Singapore Economy

‘Forward Singapore’ roadmap to engage Singaporeans through 6 pillars: Lawrence Wong
The nationwide Forward Singapore exercise, which aims to review and refresh the country’s social compact, will be organised along 6 pillars, each headed by fourth generation (4G) leaders. Wong, who is also Finance Minister, will be the overall lead, according to a statement issued by the Ministry of Communications and Information (MCI).
https://www.businesstimes.com.sg/government-economy/forward-singapore-roadmap-to-engage-singaporeans-through-6-pillars-lawrence-wong
https://www.straitstimes.com/singapore/politics/4g-ministers-to-engage-singaporeans-in-six-areas-to-get-views-update-policies
https://www.straitstimes.com/singapore/fairness-and-inclusion-vital-to-the-national-conversation

Welfare policies come with trade-offs, including need to raise taxes: Lawrence Wong
Singapore – As Singapore moves to refresh and strengthen its social compact by investing in greater assurance and protection for vulnerable segments of society, it needs to confront the question of how far society as a whole is willing to go, said Deputy Prime Minister Lawrence Wong on Tuesday (June 28).
https://www.straitstimes.com/singapore/politics/welfare-policies-come-with-trade-offs-including-need-to-raise-taxes-lawrence-wong

Leadership style has to adapt to changing society: Lawrence Wong
Singapore – Every leader has to adapt his style to the circumstances and needs of society in his time, Deputy Prime Minister Lawrence Wong said on Tuesday (June 28). And as Singapore faces different challenges and needs, and its society evolves, his leadership style has to adjust, he told union and business leaders and workers.
https://www.straitstimes.com/singapore/politics/leadership-style-has-to-adapt-to-changing-society-lawrence-wong

Why Singapore needs to refresh its social compact
Deputy Prime Minister Lawrence Wong spoke about the internal and external pressures for change as he launched the Forward Singapore exercise at a dialogue organised by the National Trades Union Congress. Here are edited excerpts from his speech.
https://www.straitstimes.com/opinion/why-singapore-needs-to-refresh-its-social-compact

Singapore can become the Suez Canal of money movement
Singapore is a global financial centre, a magnet for fintech companies, and a key financial gateway to the Asia-Pacific (APAC) region. It is also an important conduit for the movement of money between the East and the West, given its strategic geographical location and global connectivity.
https://www.businesstimes.com.sg/opinion/singapore-can-become-the-suez-canal-of-money-movement

Views, Reviews, Forum and Others

No letting up on tackling climate crisis
The recent spate of extreme weather events around the globe shows that man-made climate change is an immediate and growing threat. The science is clear, global warming is driving more severe heatwaves, floods and storms and accelerating sea level rise.
https://www.straitstimes.com/opinion/the-straits-times-says-no-letting-up-on-tackling-climate-crisis

Singapore’s ‘comply or explain’ approach has not worked as well as hoped
When the first Code of Corporate Governance was released in March 2001, it was against the backdrop of the East-Asian financial crisis, and the move from a merit-based to disclosure-based approach to regulation.
https://www.businesstimes.com.sg/opinion/singapores-comply-or-explain-approach-has-not-worked-as-well-as-hoped

Some companies still hesitant about physical AGMs despite easing of virus restrictions
Most Covid-19-related vaccination-differentiated safe-management measures and group size limits have been lifted, allowing companies to hold physical annual general meetings (AGMs). But several of Singapore’s largest listed companies are still lukewarm about such arrangements.
https://www.businesstimes.com.sg/companies-markets/some-companies-still-hesitant-about-physical-agms-despite-easing-of-virus

Update on COVID-19 (Coronavirus Disease 2019) situation

11,504 new Covid-19 cases in Singapore, more than double the infections a day ago
There were 11,504 new Covid-19 cases recorded in Singapore on Tuesday (Jun 28), more than double the 5,309 cases on Monday. It is also more than last Tuesday’s 7,109 cases.
https://www.businesstimes.com.sg/government-economy/11504-new-covid-19-cases-in-singapore-more-than-double-the-infections-a-day-ago
https://www.straitstimes.com/singapore/health/more-than-11500-new-covid-19-cases-reported-in-spore

Covid-19 wave in S’pore has arrived earlier than expected, possibly due to holiday travels: Ong Ye Kung
Singapore – The next wave of Covid-19 infections in Singapore has arrived sooner than expected, Health Minister Ong Ye Kung said on Tuesday (June 28). Speaking to Chinese newspaper Lianhe Zaobao after the 30th annual general meeting of the Chinese Development Assistance Council (CDAC), Mr Ong said many people had travelled overseas, including to Europe, during the June school holidays, and the recent increase in Covid-19 cases here could be related to that.
https://www.straitstimes.com/singapore/health/covid-19-wave-has-arrived-earlier-than-expected-possibly-due-to-holiday-travels-ong-ye-kung

*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