DAILY NEWS

Daily News – 7, 8, 9 & 10 August 2021 (Sat, Sun, Mon & Tue)

Singapore Real Estate

Why Japan’s demographics have not scared off Singapore property groups
Singapore’s real estate firms are not shying away from investing in Japan, despite the country’s shrinking population and its subdued economic growth. The recent asset purchases suggest that investors are undeterred by the weak demographics, and turning their attention to the stable returns.
https://www.businesstimes.com.sg/real-estate/why-japans-demographics-have-not-scared-off-singapore-property-groups

Unvaccinated workers in construction sites must be clearly identified from Aug 16: BCA
People who have not been vaccinated against Covid-19 will have to wear visual identifiers when they are at construction worksites from Aug 16, as part of new measures to contain the virus. The Building and Construction Authority (BCA) said on Thursday that this requirement will also apply to those who have not completed their vaccination regime, as well as those whose vaccinations have not taken effect.
https://www.businesstimes.com.sg/government-economy/unvaccinated-workers-in-construction-sites-must-be-clearly-identified-from-aug-16
https://www.straitstimes.com/singapore/unvaccinated-people-must-wear-visual-identifiers-at-worksites

Antigen rapid testing for Covid-19 to be mandatory for S’pore’s construction industry
Singapore – Antigen rapid tests (ARTs) will soon be made mandatory for the construction industry, said National Development Minister Desmond Lee in a Facebook post on Sunday (Aug 8). The tests will apply to all workers as well as visitors who do not reside in dormitories and are entering construction worksites.
https://www.straitstimes.com/singapore/antigen-rapid-testing-for-covid-19-to-be-mandatory-for-spores-construction-industry

What’s in a condo name?
When property developers start a new condominium project, do they look at one design and think, “That’s obviously a Dented Lunchbox”, or glance at another and think, “This one’s clearly a Toddler’s Idea Of An Oblong” or “Block Of Runny Cheese”?
https://www.straitstimes.com/life/whats-in-a-condo-name

Court gives condo MC 3 months to get 90% nod or remove awnings
The owners of a 15th storey unit at Bullion Park condo in Lentor Loop objected when their neighbours one floor below erected an awning over their balcony that collected dust and caused excessive glare. This first happened in 2011.
https://www.straitstimes.com/singapore/housing/court-gives-condo-mc-3-months-to-get-90-nod-or-remove-awnings

Singapore Economy

Business optimism began to dip even before Phase 2 Heightened Alert: survey
The mood among businesses here appears to have been dialled down a notch, even before Singapore recently implemented tighter Covid-19 measures to control a third wave of infections, according to a quarterly business climate survey.
https://www.businesstimes.com.sg/government-economy/business-optimism-began-to-dip-even-before-phase-2-heightened-alert-survey

Economists see upgrade in Singapore’s 2021 growth forecast
Singapore – The health prognosis of Singapore’s trading partners will likely have a significant bearing on how its trade-dependent economy performs through the rest of 2021. However, the phased easing of Covid-related curbs will likely boost private consumption and help compensate for some of the possible loss in growth momentum from the export-driven sectors – mainly manufacturing.
https://www.straitstimes.com/business/economy/economists-see-upgrade-in-singapores-2021-growth-forecast

Singapore in ‘more resilient position’ due to higher vaccination rate, says PM Lee
There are some areas where the Singapore government “could have done better” when dealing with the Covid-19 pandemic, said Prime Minister Lee Hsien Loong in his annual National Day Message on Sunday. He noted how many Singaporeans were “disappointed” when the authorities had to tighten restrictions again last month, after the discovery of a major cluster of cases at the Jurong Fishery Port.
https://www.businesstimes.com.sg/government-economy/singapore-in-more-resilient-position-due-to-higher-vaccination-rate-says-pm-lee

‘Real progress’ for lower-wage workers is essential part of inclusive growth: PM Lee
The ongoing Covid-19 pandemic has strained a number of fault lines in Singapore society, as well as brought up “difficult issues” that need to be dealt with, said Prime Minister Lee Hsien Loong. In his annual National Day Message, taped at the Botanic Gardens and broadcast on Sunday evening, he cited three of these issues – the need to support lower-wage workers, how to address anxieties over foreign work-pass holders, and managing issues of race and religion carefully.
https://www.businesstimes.com.sg/government-economy/real-progress-for-lower-wage-workers-is-essential-part-of-inclusive-growth-pm-lee
https://www.straitstimes.com/singapore/politics/anxieties-over-foreign-work-pass-holders-being-addressed-singapore-cannot-turn
https://www.straitstimes.com/singapore/politics/pm-dont-take-hard-won-social-cohesion-for-granted

Companies’ Brief

Lendlease Global Reit posts 33 per cent increase in H2 DPU amid retail recovery
Lendlease Global Commercial Reit (Lendlease Global Reit) on Tuesday posted a distribution per unit (DPU) of 2.34 Singapore cents for the half-year ended June 30, up 32.8 per cent from 1.76 cents a year ago on the back of recovery in retail activity.
https://www.businesstimes.com.sg/real-estate/lendlease-global-reit-posts-33-per-cent-increase-in-h2-dpu-amid-retail-recovery

Institutional investors return to S-Reits in Q32021
There are seven S-Reits in the Straits Times Index (STI), making up close to 14 per cent of the benchmark. The seven S-Reits generated an average total return of 5.2 per cent in the third quarter-to-date till Aug 5, outperforming the STI which gained 1.6 per cent over the same period.
https://www.businesstimes.com.sg/companies-markets/institutional-investors-return-to-s-reits-in-q32021

Sabana Reit again rejects EGM requisition over appointment of director
Sabana Shari’ah Compliant Real Estate Investment Trust (Sabana Reit) on Friday said it will not hold an extraordinary general meeting (EGM) for unitholders to endorse the appointment of hedge fund founder Chan Wai Kheong as its independent non-executive director.
https://www.businesstimes.com.sg/companies-markets/sabana-reit-again-rejects-egm-requisition-over-appointment-of-director

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1428
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1427

Views, Reviews, Forum & Others

Turning 56, with eye on the future
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
As a small city state, Singapore has raised its bar for excellence, making the list of the most futuristic cities in the world. The city needs to continually renew itself with big things and bold ideas. For the next decade, I see Singapore leveraging its unique position as a futuristic city and take the bold step to build a mega Green Dot icon showcasing a “hybrid” digitalised integrated hub providing a variety of uses eg test bed for biodegradables, robots, robotic green farming, to name a few, as well as immersive interactive activities to engage the communities and tourists.
https://www.businesstimes.com.sg/views-from-the-top/turning-56-with-eye-on-the-future

Singapore’s nation building and the Covid-19 test
The pandemic has strained fault lines and raised difficult issues. But it has also shown that we can face them with grit and determination, and stay one united people, says Prime Minister Lee Hsien Loong in his National Day message yesterday. Here is the full text of his speech.
https://www.straitstimes.com/opinion/singapores-nation-building-and-the-covid-19-test

Time is now for smart infrastructure upgrade
From Singapore to Seoul to Sydney, every city possesses a character of its own. But many of the infrastructure challenges of supporting a bustling urban population – especially in the midst of a pandemic – are universal.
https://www.businesstimes.com.sg/opinion/time-is-now-for-smart-infrastructure-upgrade

Too early to talk about ‘post-pandemic’ world economy
The world is facing two disasters that are making the Covid-19 crisis doubly worse than it ought to be. The first is the rise of the Delta variant, which is twice as contagious and 1.5 to two times deadlier than the original coronavirus.
https://www.businesstimes.com.sg/opinion/too-early-to-talk-about-post-pandemic-world-economy

Covid-19: Time to have new mindset in endemic phase
Singapore is set to enter a new phase in the fight against Covid-19, now that the number of people vaccinated is steadily reaching the Government’s target. I hope I have not said that too soon. It has been a yo-yo year here and elsewhere…
https://www.straitstimes.com/opinion/covid-19-time-to-have-new-mindset-in-endemic-phase-0

Deadly Delta variant derails regional recovery
The deadly Delta variant now ravaging South-east Asia has upended expectations of Asean resilience and is fuelling concerns about longer-term economic damage in the region. HSBC last week slashed full-year growth estimates for every Asean-6 economy but Singapore.
https://www.businesstimes.com.sg/asean-business/deadly-delta-variant-derails-regional-recovery

Building a business resilience strategy in a cloud environment
Over the past year, organisations have been thrust into hybrid working arrangements, creating a new level of complexity for leaders, and bringing about a new major challenge faced by most enterprises: building a resilient workforce.
https://www.businesstimes.com.sg/sme/building-a-business-resilience-strategy-in-a-cloud-environment

Reflecting on four transitions for a globally sustainable Singapore
Singapore – Is there any other country whose national character so closely identifies with the notion that “no man is an island”? From a quiet fishing village with few resources, Singapore – out of a “backs-to-the-wall” necessity – has gone through immense change, adaption and reinvention.
https://www.straitstimes.com/business/banking/reflecting-on-four-transitions-for-a-globally-sustainable-singapore-0

Will remote workers get left behind in the hybrid office?
When offices finally reopen, some companies plan to use them in a very different way than they did before the pandemic, giving workers the choice to come in just a few days a week, or not at all. Some employees are eager to return to the office full time as soon as they can…
https://www.businesstimes.com.sg/leadership-management/will-remote-workers-get-left-behind-in-the-hybrid-office

Bitcoin resumes slide after running into ‘wall of resistance’
Bitcoin is striving – and failing – to break above key technical hurdles this week, moving lower towards a major inflection point instead. Bitcoin has flirted with regaining the US$40,000 mark all week but has failed to do so, showing strong resistance at that threshold.
https://www.businesstimes.com.sg/wealth-investing/bitcoin-resumes-slide-after-running-into-wall-of-resistance

Use common-sense approach to mitigate risk of air travel: Iata chief
Singapore – The pandemic-induced crisis has resulted in seemingly unending upheaval for global aviation because governments are unable to take common-sense approaches to mitigate the risk, according to International Air Transport Association (Iata) director-general Willie Walsh.
https://www.straitstimes.com/business/companies-markets/use-common-sense-approach-to-mitigate-risk-of-air-travel-iata-chief

Update on COVID-19 (Coronavirus Disease 2019) Situation

Early easing of restrictions lifts spirits ahead of National Day
The past three months have been a roller-coaster ride for anyone in the food and beverage (F&B) business. On May 16, dining-in was banned as Singapore moved into Phase 2 (Heightened Alert) (P2HA) because of the rising number of Covid-19 cases in the community.
https://www.businesstimes.com.sg/government-economy/early-easing-of-restrictions-lifts-spirits-ahead-of-national-day
https://www.straitstimes.com/singapore/health/covid-19-restrictions-relaxed-from-aug-10-dine-in-to-be-allowed

A day after National Day, Singapore begins road to normalcy with ‘vaccination differentiated’ approach
Singapore starts down the road to normalcy with a “vaccination differentiated” strategy from Aug 10 when activities such as dining-in will be allowed for vaccinated people in up to groups of five, the government’s multi-ministry taskforce on Covid-19 announced on Friday.
https://www.businesstimes.com.sg/government-economy/a-day-after-national-day-singapore-begins-road-to-normalcy-with-vaccination
https://www.straitstimes.com/singapore/health/divergent-lives-from-tomorrow-for-the-vaccinated-and-unvaccinated

If I am not vaccinated, can I eat in a restaurant from tomorrow?
Singapore will begin implementing differentiated rules for social gatherings based on vaccination status tomorrow. This is part of the country’s four-step reopening process, with the eventual goal of becoming a Covid-resilient nation.
https://www.straitstimes.com/singapore/health/if-i-am-not-vaccinated-can-i-eat-in-a-restaurant-from-tomorrow

Up to 500 people allowed at live performances, cinemas and worship services from Aug 10 if all vaccinated
Singapore – From next Tuesday (Aug 10), worship services, cinemas, live performances, business conferences and marriage solemnisations will be able to host up to 500 people if all are fully vaccinated against the coronavirus.
https://www.straitstimes.com/singapore/capacity-limits-to-go-up-for-events-such-as-live-performances-cinemas-and-worship-services

Up to 50% of staff can return to workplace if situation stays under control
From Aug 19, up to 50 per cent of work-from-home employees will be allowed to return to their workplace as Singapore transitions out of its restricted Covid-19 safety measures. Yesterday, the Ministry of Health (MOH) said the easing of measures will take place only if the Covid-19 situation remains under control.
https://www.straitstimes.com/singapore/up-to-50-of-staff-can-return-to-workplace-if-situation-stays-under-control

Those who get jabs in WHO list to be regarded as fully vaccinated
Those who have received the Sinovac, Sinopharm, Johnson & Johnson, Covishield or AstraZeneca Covid-19 vaccines will be eligible for vaccination-differentiated safe management measures from next Tuesday. Individuals are considered to be fully vaccinated two weeks after they have received the full regimen of Pfizer-BioNTech/Comirnaty, Moderna…
https://www.straitstimes.com/singapore/those-who-get-jabs-in-who-list-to-be-regarded-as-fully-vaccinated

Chances of vaccinated person being very ill from virus up to 10 times less
The chances of a vaccinated individual falling severely ill from Covid-19 are up to 10 times less than one who is not vaccinated, Health Minister Ong Ye Kung said yesterday. While a number of fully vaccinated people have become seriously ill, it should also be viewed as a matter of proportion as more people are vaccinated, he said.
https://www.straitstimes.com/singapore/health/chances-of-vaccinated-person-being-very-ill-from-virus-up-to-10-times-less

3 key changes to healthcare protocols as nation moves to living with Covid-19
As Singapore moves into a new stage of living with Covid-19, changes will be made to the nation’s healthcare protocols. Health Minister Ong Ye Kung said yesterday that there will be three main changes – increasing the number of community care facilities (CCFs) and adjustments to discharge protocols and the stay-home-notice (SHN) scheme.
https://www.straitstimes.com/singapore/health/3-key-changes-to-healthcare-protocols-as-nation-moves-to-living-with-covid-19

The Delta dilemma: How the Covid-19 variant is disrupting the world’s reopening plans
The Delta variant of the coronavirus has played havoc with governments’ plans to return life to some sense of normality. Fresh outbreaks fuelled by the highly infectious strain have forced major cities in China, Australia, the Philippines and elsewhere back into lockdown and spurred the authorities, particularly in Asia, to reimpose harsh restrictions as low vaccination rates leave people vulnerable to Covid-19.
https://www.straitstimes.com/world/the-delta-dilemma-how-covid-19-variant-is-disrupting-the-worlds-reopening-plans

Covid-19 infections, deaths will rise as economy opens up
More people will come down with Covid-19 as Singapore opens up its economy and moves towards treating the virus as endemic, said Health Minister Ong Ye Kung yesterday. This means the number of people who become severely ill will go up – especially among the unvaccinated – and the death toll will rise.
https://www.straitstimes.com/singapore/health/covid-19-infections-deaths-will-rise-as-economy-opens-up

69 new locally transmitted Covid-19 cases in Singapore, including 20 unlinked
There were 69 new locally transmitted coronavirus cases reported at noon on Monday. Of the new cases, 39 were linked to previous infections and had already been placed on quarantine, while another 10 were not in quarantine when they were tested positive.
https://www.businesstimes.com.sg/government-economy/69-new-locally-transmitted-covid-19-cases-in-singapore-including-20-unlinked

5 more cases linked to CHIJ Katong Convent cluster; 8 patients in ICU
Five more Covid-19 cases were linked to the CHIJ Katong Convent cluster yesterday, taking the total number of cases related to the secondary school to eight. Students at the school were placed on home-based learning for a short while last month after two pupils tested positive for the virus.
https://www.straitstimes.com/singapore/5-more-cases-linked-to-chij-katong-convent-cluster-8-patients-in-icu

New Covid-19 cluster at NKF dialysis centre
A new Covid-19 cluster – at a National Kidney Foundation (NKF) dialysis centre – was announced yesterday night, taking the number of active clusters here to 131. The NKF Dialysis Centre (Sakyadhita) at 19 Upper Boon Keng Road added one new case yesterday, taking the total number of cases linked to the centre to three, said the Ministry of Health (MOH) in its nightly virus update.
https://www.straitstimes.com/singapore/new-covid-19-cluster-at-nkf-dialysis-centre

AMK block’s residents take mandatory tests for second time in over a week
An 80-year-old retiree and his 77-year-old wheelchair-user wife yesterday made their way to a regional screening centre across the road from where they live in Ang Mo Kio, to be tested for Covid-19. Their neighbours had tested positive last week.
https://www.straitstimes.com/singapore/health/amk-blocks-residents-take-mandatory-tests-for-second-time-in-over-a-week

Fully vaccinated travellers from 8 more countries can serve SHN at home from Aug 20: MOH

Singapore – Fully vaccinated travellers from Australia, Austria, Canada, Germany, Italy, Norway, South Korea and Switzerland will be allowed to serve their 14-day stay-home notice (SHN) at their own places of residence instead of a dedicated facility from 11.59pm on Aug 20.
https://www.straitstimes.com/singapore/health/fully-vaccinated-travellers-from-eight-more-countries-can-serve-shn-at-home-from

Vaccinated work pass holders from higher-risk places can enter S’pore
Work pass holders and their dependants from higher-risk countries or regions will be allowed to enter Singapore from Tuesday, provided they are fully vaccinated before arrival. The Ministry of Manpower (MOM) announced yesterday that it will resume issuing entry approvals for this group in a safe and calibrated manner.
https://www.straitstimes.com/singapore/health/vaccinated-work-pass-holders-from-higher-risk-places-can-enter-spore

All S’poreans, long-term pass holders, PRs can get walk-in jabs
From today, all Singaporeans, permanent residents and long-term pass holders will be able to walk into any of the 37 vaccination centres here to get their jabs without a prior appointment.
https://www.straitstimes.com/singapore/all-sporeans-long-term-pass-holders-prs-can-get-walk-in-jabs

Local clinical trials soon for two vaccines targeting 4 variants
Local clinical trials will soon commence for two Covid-19 vaccines, developed by a United States-based company to target four variants of concern, including the Delta variant.
https://www.straitstimes.com/singapore/health/local-clinical-trials-soon-for-two-vaccines-targeting-4-variants

*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