DAILY NEWS

Daily News – 10 June 2021 (Thu)

Singapore Real Estate

Govt hikes private housing supply from confirmed sale sites by 25% for 2nd half of 2021
Singapore – The supply of private homes from confirmed sites under the Government Land Sales (GLS) programme for the second half of this year has been raised by nearly 25 per cent to 2,000 units, up from 1,605 units for the first half of the year.
https://www.straitstimes.com/business/property/private-housing-supply-from-confirmed-sale-sites-up-25-for-second-half-of-2021

New retailers sprouting in Singapore, but more shop spaces stand empty
Many brick-and-mortar shops are likely to remain unoccupied even if the overall number of businesses in the sector continues to grow, with more retailers working from home and starting their ventures online. Going by data compiled by the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore…
https://www.businesstimes.com.sg/real-estate/new-retailers-sprouting-in-singapore-but-more-shop-spaces-stand-empty

HDB rents up 0.7% in May, condominium rents rise 0.3%: SRX
Rents for condominiums increased 0.3 per cent in May 2021 from the previous month, while that of Housing Development Board (HDB) flats rose 0.7 per cent in the same period. This marks the fifth and eleventh consecutive month of rising condo and HDB rents respectively, according to Wednesday’s SRX flash estimates.
https://www.businesstimes.com.sg/real-estate/hdb-rents-up-07-in-may-condominium-rents-rise-03-srx
https://www.straitstimes.com/business/property/condo-hdb-rents-rise-despite-covid-19-restrictions

BT Explains: Why office landlords aren’t fretting over banks cutting space
The trend of Singapore banks trimming office space is not spelling doom and gloom in the leasing market. Who’s been scooping up these workspaces, and which landlords have exposure to them? The Business Times takes a closer look.
https://www.businesstimes.com.sg/real-estate/bt-explains-why-office-landlords-arent-fretting-over-banks-cutting-space

Singapore Economy

New global tax plan adds to list of challenges for Singapore
Singapore – The world’s richest countries have proposed laying out new international tax rules that will only add to the challenges that trade-and investment-dependent countries like Singapore face in the coming months and years.
https://www.straitstimes.com/business/economy/new-global-tax-plan-adds-to-list-of-challenges-for-singapore-0

MAS to deploy US$1.8 billion to five asset managers for climate-related investments
MAS will deploy US$1.8 billion of the official foreign reserves (OFR) to five asset managers for climate-related investments, said Ravi Menon, managing director, MAS, at the launch of its first sustainability report on Wednesday.
https://www.businesstimes.com.sg/government-economy/mas-to-deploy-us18-billion-to-five-asset-managers-for-climate-related-investments
https://www.straitstimes.com/business/economy/mas-to-commit-24b-for-climate-linked-investments

Companies’ Brief

Goodland, Chip Eng Seng units to acquire properties
Property players Goodland Group and Chip Eng Seng Corporation both announced property acquisition deals on Wednesday. For Goodland, its unit PEG East has entered an agreement to acquire a row of four freehold double-storey shophouses on Serangoon Road for S$16 million.
https://www.businesstimes.com.sg/companies-markets/goodland-chip-eng-seng-units-to-acquire-properties
https://www.straitstimes.com/business/companies-markets/chip-eng-seng-unit-to-acquire-australian-commercial-property-for-a25

LHN on aggressive hunt for more properties for its co-living business
Property player LHN is on the prowl for properties to purchase for its co-living business, the Catalist-listed company said in a Wednesday bourse filing. It said: “Encouraged by the current high occupancy of existing its Coliwoo properties…
https://www.businesstimes.com.sg/companies-markets/lhn-on-aggressive-hunt-for-more-properties-for-its-co-living-business

MC Payment to defer Ching Chiat Kwong’s board-removal resolution to another EGM
Digital payments company MC Payment will not move the resolution by controlling shareholder Ching Chiat Kwong to remove most of its directors at its upcoming extraordinary general meeting (EGM) on June 30.
https://www.businesstimes.com.sg/companies-markets/mc-payment-to-defer-ching-chiat-kwongs-board-removal-resolution-to-another-egm

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1395

Views, Reviews, Forum & Others

Striking a balance in building HDB flats in prime locations
“This is home, truly” – the lyrics of the National Day song Home are familiar to all. For Singaporeans, home is the place which anchors our emotional sense of belonging. This includes the homes we live in and own, where we have raised families and built strong communities.
https://www.straitstimes.com/opinion/striking-a-balance-in-building-hdb-flats-in-prime-locations-0

Impact of the great lockdown on global trade
Trade is recovering robustly alongside the upticks in growth in major economies. This good news deserves more attention. Less than 12 months ago, many observers were predicting an end to globalisation. The pandemic disrupted supply chains, and governments…
https://www.businesstimes.com.sg/opinion/impact-of-the-great-lockdown-on-global-trade

Data deluge: more does not mean better for businesses
In today’s digital age, data is a key ingredient for business viability and growth. The proliferation of cloud-based apps and emerging technologies such as 5G, blockchain and artificial intelligence has disrupted the economy and also the way data is created, managed and utilised.
https://www.businesstimes.com.sg/opinion/data-deluge-more-does-not-mean-better-for-businesses

Singapore’s vaccine debate: Keep it rational, not political
WHO’s approval of Sinovac is aimed at expanding supply to mitigate inequitable vaccine distribution globally. Singapore has the means to provide better protection for its people and is within its rights to make its own decisions.
https://www.straitstimes.com/opinion/singapores-vaccine-debate-keep-it-rational-not-political

Seoul hopes to speed up talks on travel bubble with S’pore, Taiwan
South Korea is hoping to expedite travel bubble talks with the likes of Singapore and Taiwan to allow quarantine-free travel for fully vaccinated people from as early as next month, as part of a national campaign to encourage mass vaccination.
https://www.straitstimes.com/asia/east-asia/seoul-hopes-to-speed-up-talks-on-travel-bubble-with-spore-taiwan

Update on COVID-19 (Coronavirus Disease 2019) Situation

Relaxing of virus curbs set to be measured, gradual
As June 13 draws closer, one question looms large in Singaporeans’ minds: How far will the current strict rules on social gatherings be relaxed, given that Covid-19 cases in the community have steadily decreased over the past month?
https://www.straitstimes.com/singapore/health/relaxing-of-virus-curbs-set-to-be-measured-gradual

Singapore’s sole unlinked case is repairman who had first vaccine dose
The sole unlinked Covid-19 case reported in the community on Wednesday is a 29-year-old repairman from Myanmar who works at Grandwork Interior and got his first vaccine dose on May 31. The other case in the community is a 21-year-old kitchen assistant from Malaysia who works at Rice Garden in Anchorvale…
https://www.businesstimes.com.sg/government-economy/singapores-sole-unlinked-case-is-repairman-who-had-first-vaccine-dose
https://www.straitstimes.com/singapore/health/repairman-who-had-one-vaccine-shot-is-only-case-that-is-unlinked

All staff at Four Leaves bakery in Ion Orchard quarantined after Covid-19 case found; outlet closed temporarily
Singapore – All staff at the Four Leaves outlet in Ion Orchard have been quarantined, and the outlet has been closed temporarily, after a retail assistant working there was confirmed as a Covid-19 case here on Tuesday (June 8).
https://www.straitstimes.com/singapore/all-staff-at-four-leaves-outlet-at-ion-orchard-quarantined-outlet-closed-temporarily

550 cases of Delta variant in S’pore at end-May
As at the end of May, 550 Covid-19 cases in Singapore were infected with the Delta variant of the coronavirus first detected in India. This figure comprises 428 local and 122 imported cases, the Ministry of Health (MOH) told The Straits Times.
https://www.straitstimes.com/singapore/health/550-cases-of-delta-variant-in-spore-at-end-may

Routine testing for workplaces could temporarily nudge up WFH adoption
Frequent Covid-19 testing is being recommended as part of safety protocol in the workplace, and if made mandatory, could tip the scales for employers still reluctant to embrace work-from-home (WFH) arrangements.
https://www.businesstimes.com.sg/government-economy/routine-testing-for-workplaces-could-temporarily-nudge-up-wfh-adoption

Cost of pre-event testing a concern: live event organisers
The introduction of extensive testing may mean that large-scale events like concerts and theatre can potentially resume, but “live” event organisers remain concerned over the cost of pre-event testing and the higher ticket prices it might mean for consumers.
https://www.businesstimes.com.sg/government-economy/cost-of-pre-event-testing-a-concern-live-event-organisers

Suppliers expect DIY Covid test kits to take off amid heightened demand for mass testing
Suppliers of Covid-19 Antigen Rapid Test (ART) kits are eyeing an entry into the DIY (do-it-yourself) test kit market ahead of a surge in demand for mass testing at workplaces and high-traffic locations. They expect demand for DIY kits to increase as Singapore looks to safely resume more economic activities.
https://www.businesstimes.com.sg/garage/suppliers-expect-diy-covid-test-kits-to-take-off-amid-heightened-demand-for-mass-testing

NTU scientists develop reusable mask that is able to filter 99.9% of bacteria, viruses and haze
Singapore – Scientists from the Nanyang Technological University (NTU) have developed a reusable mask that is able to kill bacteria droplets within 45 seconds and filter 99.9 per cent of bacteria, viruses and haze particles – better than the medical-grade N95 masks used in hospitals.
https://www.straitstimes.com/singapore/ntu-scientists-develop-reusable-mask-that-is-able-to-filter-999-per-cent-of-bacteria

*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