DAILY NEWS

Daily News – 8, 9 & 10 January 2022 (Sat, Sun & Mon)

Singapore Real Estate

Co-living providers look to higher demand
Co-living providers anticipate higher demand in 2022 after a sanguine 2021, with more Vaccinated Travel Lanes (VTLs) expected to open up and more expats as well as locals return to Singapore. For Hmlet, which has been operating and managing co-living properties since 2016, this was already evident in Q4 2021 when it saw a 35 per cent quarterly rise in enquiries and bookings, said chief real estate officer Joshua Li.
https://www.businesstimes.com.sg/real-estate/co-living-providers-look-to-higher-demand

Built environment industry has reason to be optimistic in its outlook
Several developments in the built environment industry have given us some reason to be cautiously optimistic about the outlook in the new year. For one thing, the Vaccinated Travel Lane that was established between Malaysia and Singapore recently has facilitated the transport of construction materials from Malaysia, particularly pre-cast and pre-fabricated modules into Singapore, a move that has been welcomed by Singapore’s construction industry.
https://www.businesstimes.com.sg/real-estate/built-environment-industry-has-reason-to-be-optimistic-in-its-outlook

This District 9 freehold home is where to start building your legacy
The ability to express yourself is fundamental when it comes to your home. Your personality and lifestyle are reflected in where you choose to reside, especially when it is a natural extension of who you are. A rare gem that ticks all the boxes – combining luxury and exclusivity – is The Atelier situated in the Newton-Novena enclave, a stone’s throw away from the Orchard Road shopping belt.
https://www.straitstimes.com/business/property/district-9-freehold-the-atelier-newton-novena-building-your-legacy

More people couldn’t fully repay CPF after selling property in 2020
[Singapore] More people who used their Central Provident Fund (CPF) monies to pay their housing loans were unable to fully refund the amount after selling their properties in 2020, compared with the previous 2 years, data published by the CPF Board showed.
https://www.businesstimes.com.sg/real-estate/more-people-couldnt-fully-repay-cpf-after-selling-property-in-2020
https://www.straitstimes.com/singapore/housing/more-people-unable-to-fully-refund-cpf-after-selling-house-in-2020

Singapore Economy

Singapore’s industrial champions are rewriting their playbook
[Singapore] The triple shock of the pandemic, disruptive tech and climate change is pushing Singapore to rewrite one of the world’s most successful economic models. Over the past 2 years, at least 8 state-linked companies have announced major mergers, acquisitions, asset disposals or privatisations in the island’s biggest industrial overhaul in 2 decades.
https://www.businesstimes.com.sg/government-economy/singapores-industrial-champions-are-rewriting-their-playbook
https://www.straitstimes.com/business/companies-markets/singapores-industrial-champions-are-rewriting-their-playbook-0

EDB’s investment arm had strongest year on record in 2021 despite pandemic
Singapore – The investment arm of Singapore’s Economic Development Board had its strongest year on record in 2021, despite the turmoil caused by the pandemic. EDBI as it is known helped 11 portfolio companies list on the stock exchange while supporting promising start-ups through Covid-19 challenges, it said.
https://www.straitstimes.com/business/economy/edbs-investment-arm-had-strongest-year-on-record-in-2021-despite-pandemic

Market trends in 2022
From manpower shortages to the metaverse, these are the key themes that could continue to have an outsized impact on markets and the economy in the coming year.
https://www.businesstimes.com.sg/infographics/market-trends-in-2022

Singapore’s tourism sector hopeful of recovery despite new lows
Singapore – Tourism numbers for Singapore hit new lows last year, but the industry is hopeful of a bounce back this year as global vaccination rates rise. The number of visitors to Singapore plunged from 2.7 million in 2020 to just below 330,000 last year – less than 2 per cent of the 19 million who arrived pre-Covid-19 in 2019.
https://www.straitstimes.com/singapore/number-of-singapore-passports-issued-in-2021-lowest-in-15-years

Firms eager to get staff back into the office
Now that more staff are allowed in workplaces, firms have been eager to welcome them back, citing benefits such as higher productivity, better social interaction, and smoother collaboration. Firms told The Business Times that they have put in place plans to progressively ease more staff back to the office over the coming weeks.
https://www.businesstimes.com.sg/government-economy/firms-eager-to-get-staff-back-into-the-office

Mice calendar quiet for 2022, but may pick up after Chinese New Year
Hosts of meetings, incentives, convention and exhibition (Mice) events are banking on a travel revival to support the resumption of large-scale industry gatherings. But the calendar for early 2022 is still sparse, and organisers remain on the lookout for virus-related developments that could trigger contingency plans that return events to the realm of the virtual.
https://www.businesstimes.com.sg/government-economy/calendar-is-thin-for-now-but-singapore-mice-events-may-pick-up-after-chinese-new

Companies’ Brief

Acquisitions by S-Reits exceed S$12 billion in 2021
In 2021, the benchmark iEdge S-Reit Index generated 6.2 per cent total returns and the S-Reit and property trusts sector as a whole received S$1.4 billion of net retail inflows while institutional investors have seen net outflows of S$1.0 billion.
https://www.businesstimes.com.sg/companies-markets/wealth-investing/acquisitions-by-s-reits-exceed-s12-billion-in-2021

MCT-MNACT merger makes most sense when viewed from perspective of Mapletree Investments
After digesting the proposed merger of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) over the past week, the verdict from the market seems clear: MCT has lost 8.5 per cent of its market value while MNACT has slipped 1.8 per cent.
https://www.businesstimes.com.sg/companies-markets/wealth-investing/mct-mnact-merger-makes-most-sense-when-viewed-from-perspective-of

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1517

Views, Reviews, Forum & Others

Musings on a brand new year
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
Among the known knowns, 2022 will see the continued battle with variants of the coronavirus and extreme weather phenomena caused by global warming amid cautious optimism of more effective vaccines and heightened awareness to collectively address the climate emergency.
https://www.businesstimes.com.sg/views-from-the-top/musings-on-a-brand-new-year

Staying prepared for the Omicron wave
It was simply a matter of time before the Omicron variant of the coronavirus hit Singapore, albeit not with an epidemiological fury – yet. Already, Omicron cases make up around 18 per cent of all Covid-19 cases reported to the Ministry of Health (MOH).
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-staying-prepared-for-the-omicron-wave

How to save thousands of dollars on home renovation
Singapore – You don’t have to splash out big bucks to buy a new home if you want to enjoy the latest interior designs and features. You can, in a word, renovate. With careful and smart planning, you can turn your 20- or 30-year-old home into a modern and comfortable abode with the best amenities.
https://www.straitstimes.com/business/invest/how-to-save-thousands-of-dollars-on-home-renovation

Striking a balance: risks to growth require ‘light-touch’ policy on inflation
The global economic shutdown we experienced in mid-2020 was unique in recent history for its ability to disrupt the flow of goods, services and labour around the world. Since then, regionalised shutdowns in response to the resurgence of Covid-19 infections have been implemented periodically, often with very little warning.
https://www.businesstimes.com.sg/wealth-investing/wealth-investing/striking-a-balance-risks-to-growth-require-light-touch-policy-on

Restaurants see brisk business, steady bookings ahead of Chinese New Year
Singapore – Customers are pressing ahead with dine-in bookings for Chinese New Year, with restaurants seeing brisk business for reunion dinners. However, given dining restrictions, restaurants and businesses in the food and beverage sector say deliveries and takeaways will once again be a big part of the celebrations this year, with customers and restaurants alike watching developments of Omicron cases closely.
https://www.straitstimes.com/singapore/consumer/chinese-restaurants-see-brisk-business-steady-bookings-ahead-of-chinese-new-year

Update on COVID-19 (Coronavirus Disease 2019) Situation

845 new Covid-19 cases in Singapore; weekly infection growth rate rises to 1.8
[Singapore] The weekly Covid-19 infection growth rate here increased for the 16th consecutive day on Sunday (Jan 9), edging up to 1.8 from 1.73 the day before. The infection growth rate refers to the ratio of community cases for the past week, over the week before. A weekly infection growth rate that is more than 1 shows that the number of new weekly Covid-19 cases is still going up.
https://www.businesstimes.com.sg/government-economy/845-new-covid-19-cases-in-singapore-weekly-infection-growth-rate-rises-to-18
https://www.straitstimes.com/singapore/845-new-covid-19-cases-in-spore-weekly-infection-growth-rate-rises-to-18

How to calculate vaccination validity? Answers to questions on Covid-19 booster jab and more
Singapore – Since the announcement on the expiry date of one’s “fully vaccinated” status, Health Minister Ong Ye Kung on Friday (Jan 7) tackled some common questions and detailed specific scenarios with examples.
https://www.straitstimes.com/singapore/ong-ye-kung-answers-some-questions-on-covid-19-booster-jabs-and-vaccine-expiry-date

askST: How does the Novavax Covid-19 vaccine work? Can it be used as a booster?
Singapore – The Novavax vaccine may soon be an option to protect people in Singapore against Covid-19. The Straits Times answers some of your questions about it.
https://www.straitstimes.com/singapore/health/askst-how-does-the-novavax-covid-19-vaccine-work-can-it-be-used-as-a-booster

*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