DAILY NEWS

Daily News – 12 October 2021 (Tue)

Singapore Real Estate

URA to gather public views on land use strategies for long-term plans
Singapore – From this month, members of the public can contribute their views on how Singapore can use its land in the long term in six virtual discussion sessions held by the Urban Redevelopment Authority (URA).
https://www.straitstimes.com/singapore/housing/ura-to-gather-public-views-on-land-use-strategies-for-long-term-plans

Singapore Economy

Singapore said to canvass wealth circles on tax ideas
Singapore (Bloomberg) – Singapore’s government has been soliciting feedback on its tax regime, including having conversations around wealth taxes, as discourse grows around this potentially sensitive topic.
https://www.straitstimes.com/business/economy/singapore-said-to-canvass-wealth-circles-on-tax-ideas

Vaccinated travellers need not worry about exchange rates amid steady outlook for Singapore dollar
Singapore – For the lucky ones planning to use Vaccinated Travel Lanes (VTLs), there is one less thing to worry about when packing their bags – the Singapore dollar’s exchange rate. One of the world’s most stable currencies, the local dollar can buy you any currency at a good rate any time of the year to cover your holiday shopping and dining needs.
https://www.straitstimes.com/business/economy/vaccinated-travellers-need-not-worry-about-exchange-rates-amid-steady-outlook-for

Companies’ Brief

CLCT to raise S$120m to fund S$297.7m acquisition of 4 China logistics assets
CapitaLand China Trust (CLCT) will spend S$297.7 million to acquire 4 assets in Shanghai, Kunshan, Wuhan and Chengdu, in its first foray into the China logistics sector, its manager said on Tuesday (Oct 12). The deal is based on an aggregate agreed property value of 1.7 billion yuan (S$350.7 million), representing around 0.6 per cent discount to the properties’ independent aggregate valuation.
https://www.businesstimes.com.sg/companies-markets/clct-to-raise-s120m-to-fund-s2977m-acquisition-of-4-china-logistics-assets

Tuan Sing prices S$200m notes due 2024 at 6.9%
Tuan Sing Holdings has priced S$200 million in notes due 2024 at 6.9 per cent, to be issued under its S$900 million multi-currency medium-term note programme established in Feb 2013. The notes are expected to be issued on Oct 18, 2021 at an issue price of 100 per cent of the principle amount in denominations of S$250,000 each, and are due to mature on Oct 18, 2024.
https://www.businesstimes.com.sg/companies-markets/tuan-sing-prices-s200m-notes-due-2024-at-69

Views, Reviews, Forum & Others

Weak case for consolidation within Temasek’s property stable
A rundown of Temasek Holdings’ stakes in the property stable here may raise questions, from time to time, if any consolidation is due. To answer this question, let’s take a look at what they currently hold. The state investor owns all of Mapletree Investments, which focuses on real estate development, investment, capital and property management. Mapletree has assets under management (AUM) of S$66.3 billion as at Mar 31, 2021.
https://www.businesstimes.com.sg/opinion/weak-case-for-consolidation-within-temaseks-property-stable

Firms have huge part to play in Singapore’s transition to climate-resilient economy: Grace Fu
Singapore – Private enterprises have a huge part to play in Singapore’s transition towards a low-carbon and climate-resilient economy, said Minister for Sustainability and the Environment Grace Fu on Monday (Oct 11).
https://www.straitstimes.com/business/companies-markets/firms-have-huge-part-to-play-in-singapores-transition-to-climate

Lower profit, higher pay for key execs: Is it justifiable?
In spite of uncertainties caused by the Covid-19 pandemic, several Singapore-listed companies have seen fit to raise the remuneration of their directors and key executives this past year – raising questions about how to adjust remuneration policies in exceptional times.
https://www.businesstimes.com.sg/companies-markets/questions-raised-over-bosses-getting-more-while-their-companies-make-less
https://www.businesstimes.com.sg/companies-markets/should-top-execs-in-firms-receiving-government-support-get-a-pay-rise

Update on COVID-19 (Coronavirus Disease 2019) Situation

10 seniors die from Covid-19; new cases fall to 2,263 with fewer swabs done at weekend
Singapore – Ten seniors aged between 73 and 93 died from complications linked to Covid-19, the Ministry of Health (MOH) said on Monday (Oct 11). This takes Singapore’s death toll to 172. Of the seven men and three women, four were unvaccinated, three were partially vaccinated and three were vaccinated.
https://www.straitstimes.com/singapore/health/10-seniors-die-from-covid-19-new-cases-fall-to-2263-with-fewer-swabs-done-at
https://www.businesstimes.com.sg/government-economy/10-seniors-die-from-covid-19-new-cases-fall-to-2263

Vaccinated Travel Lane: What you need to know about travelling with children aged 12 and below
Singapore – From Oct 19, children aged 12 or below who are not vaccinated will be allowed to travel under the Vaccinated Travel Lane (VTL). They were initially not included under the quarantine-free travel scheme, which was expanded to nine other countries including the United States and Britain last Saturday (Oct 9). Here’s what you need to know:
https://www.straitstimes.com/singapore/vaccinated-travel-lane-what-you-need-to-know-about-travelling-with-children-aged-12-and

Can unvaccinated staff still work? Retailers in malls seek clarity on new rules
Singapore – Mall-based businesses are seeking more clarity on how vaccination-differentiated safe management measures will be implemented once the ban on unvaccinated people from shopping centres kicks in on Wednesday (Oct 13).
https://www.straitstimes.com/singapore/consumer/mall-retailers-unsure-how-covid-19-rules-for-the-unvaccinated-will-work-expect-to

Covid-19 survival kit: From masks to test kits, all your must-haves
Singapore – To live with Covid-19, everyone needs to exercise personal responsibility, test yourself when necessary, self-isolate if the test is positive and consult a doctor if there are symptoms. The Straits Times takes you through the toolkit to keep you and your family ready.
https://www.straitstimes.com/singapore/covid-19-survival-kit-all-your-must-haves

Asean countries must speed up Covid-19 vaccination rate, says secretary-general
The secretary-general of the Association of South-east Asian Nations (Asean) remains concerned about the sluggish and uneven inoculation rate across the entire region. Currently, just 30 per cent of South-east Asia’s roughly 650 million population have received at least one dose of the Covid-19 vaccine, said Lim Jock Hoi at a recent webinar.
https://www.businesstimes.com.sg/asean-business/asean-countries-must-speed-up-covid-19-vaccination-rate-says-secretary-general

*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