DAILY NEWS

Daily News – 10 March 2022 (Thu)

Singapore Real Estate

Hillview residential development site up for sale with S$255.4m reserve price
A total of 23 terrace factories in Hillview, including 14 units whose previous tender was withdrawn 2 months ago, have been put on the market. The 999-year leasehold land parcel at 26-38D Hillview Terrace is available for sale by tender with a reserve price of S$255.4 million, sole marketing agent Colliers said on Wednesday (Mar 9).
https://www.businesstimes.com.sg/real-estate/hillview-residential-development-site-up-for-sale-with-s2554m-reserve-price-0

Portfolio of 23 strata retail shops for sale
A portfolio of 23 strata retail shops has been put up for sale via expression of interest, sole marketing agent ERA Realty announced on Thursday (Mar 10). This includes 2 Housing and Development Board (HDB) shops located in Toa Payoh and Ang Mo Kio, and 21 strata shops in Far East Plaza, Sims Lim Square, Peninsula Plaza and People’s Park Complex.
https://www.businesstimes.com.sg/real-estate/portfolio-of-23-strata-retail-shops-for-sale

Singapore Economy

World faces ‘long storm’ of inflation, food shortages, says Tharman
[Singapore] The world is being challenged by a “perfect long storm” of geopolitical risks, food shortages, climate change and prolonged inflation, according to the chairman of Singapore’s central bank.
https://www.businesstimes.com.sg/government-economy/world-faces-long-storm-of-inflation-food-shortages-says-tharman
https://www.straitstimes.com/singapore/politics/world-faces-perfect-long-storm-concerted-global-action-and-investments-are-needed-tharman

Ukraine crisis, inflation fears fuel market chatter about early central bank action
With inflation fears worsening as war rages in Ukraine, some economists have speculated that Singapore’s central bank could make an early or off-cycle monetary policy move ahead of its April meeting.
https://www.businesstimes.com.sg/government-economy/ukraine-crisis-inflation-fears-fuel-market-chatter-about-early-central-bank-0

Economists keep S’pore’s growth forecast but inflation, Ukraine crisis threaten outlook: MAS poll
Singapore – Private economists left unchanged their forecast for Singapore’s economic growth this year but see accelerating inflation and the Russia-Ukraine conflict threatening that outlook, according to a central bank survey released on Wednesday (March 9).
https://www.straitstimes.com/business/economy/economists-keep-singapores-2022-growth-forecast-at-4-but-surging-inflation-ukraine-crisis-threaten-outlook-mas-survey

Investment firms in Singapore not significantly impacted by sanctions on Russia
Singapore – The sanctions imposed on Russia have not had a major impact on investment companies here, given their limited exposure to the country, but they have still advised investors to play it safe and diversify their portfolios.
https://www.straitstimes.com/business/investments-here-not-significantly-impacted-by-russian-sanctions-but-investors-can-diversify-with-tech-healthcare-stocks-experts

Views, Reviews, Forum and Others

Mice in a time of Covid, and beyond
When aviation’s finest and biggest- from Airbus to Thales – convened on a Red Dot in the time of a global pandemic, the world watched. They watched as intently as they did 2 years earlier when Singapore Airshow 2020 was held while the then relatively unfamiliar Covid-19 ravaged our world, and one after another, countries implemented travel curbs and closed borders.
https://www.businesstimes.com.sg/opinion/mice-in-a-time-of-covid-and-beyond

Freezing forex reserves opens door for central banks to buy Bitcoin
Following the invasion of Ukraine, the Russian central bank’s foreign exchange reserves at the Federal Reserve, the Bank of England, the Bank of Canada and the European Central Bank have been frozen. This could boost cryptocurrency to a more prominent position within central bank reserves.
https://www.businesstimes.com.sg/opinion/freezing-forex-reserves-opens-door-for-central-banks-to-buy-bitcoin-0

ST Explains: How surging oil and gas prices may affect Singapore consumers
Singapore – Oil and gas prices are going through the roof amid the war in Ukraine, and Singapore is not being spared. Pricier commodities, including energy resources, can have sweeping effects across the economy, from transport costs to food and utility prices.
https://www.straitstimes.com/business/how-surging-oil-and-gas-prices-affect-singapore-consumers

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore reports 17,051 new Covid-19 cases with 1,513 patients hospitalised
[Singapore] Daily new Covid-19 infections in Singapore fell on Wednesday (Mar 9), with 17,051 new cases, compared to 22,201 infections on Tuesday. But the number of people hospitalised rose to 1,513 on Wednesday, from 1,499 on Tuesday.
https://www.businesstimes.com.sg/government-economy/singapore-reports-17051-new-covid-19-cases-with-1513-patients-hospitalised
https://www.straitstimes.com/singapore/health/singapore-reports-17051-new-covid-19-cases-with-1513-patients-hospitalised

MOM can suspend work pass privileges of employers who insist on MCs from staff with Covid-19
Employers that insist on a medical certificate (MC) from staff who have tested positive for Covid-19, despite tripartite advisory to not do so, may have their work pass privileges suspended, Manpower Minister Tan See Leng said on Wednesday (Mar 9).
https://www.businesstimes.com.sg/government-economy/mom-can-suspend-work-pass-privileges-of-employers-who-insist-on-mcs-from-staff-0
https://www.straitstimes.com/singapore/politics/employers-that-require-staff-with-covid-19-to-submit-mcs-may-have-work-pass-privileges-suspended

The Big Story: Omicron wave has peaked and is subsiding, says Ong Ye Kung
Catch the latest news video reports on The Big Story, The Straits Times’ weekday online news programme. The current Omicron wave in Singapore has peaked and the number of infections is now declining.
https://www.straitstimes.com/multimedia/the-big-story-omicron-wave-has-peaked-and-is-subsiding-says-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