DAILY NEWS

Daily News – 13 April 2022 (Wed)

Singapore Real Estate

Short-term leases for commercial land may hit office rents in the suburbs
If and when the Singapore government releases more commercial sites with lease durations below 99 years, there could be downward pressure on rents of some office spaces, especially those in suburban locations.
https://www.businesstimes.com.sg/real-estate/short-term-leases-for-commercial-land-may-hit-office-rents-in-the-suburbs

Upcoming units at Keppel Club site will attract keen interest from home buyers: analysts
Analysts expect the upcoming public and private housing units on the site currently occupied by Keppel Club to prove a hit with home buyers, thanks to the prime location and the appeal of waterfront living.
https://www.businesstimes.com.sg/real-estate/upcoming-units-at-keppel-club-site-will-attract-keen-interest-from-home-buyers-analysts

9,000 HDB flats, private homes to rise from Keppel Club site
A new housing development comprising 9,000 residential units – about 6,000 public housing flats and some 3,000 private residential units – will come up on the 48-hectare site of Keppel Club on Singapore’s southern waterfront.
https://www.businesstimes.com.sg/real-estate/9000-hdb-flats-private-homes-to-rise-from-keppel-club-site
https://www.straitstimes.com/singapore/housing/6000-bto-flats-at-keppel-club-site-what-you-should-know-about-the-greater-southern-waterfront-project

Will the Greater Southern Waterfront be included under HDB’s prime location public housing model?
Singapore – The first Build-To-Order (BTO) Housing Board project in the Greater Southern Waterfront (GSW) will be launched for sale within three years. It will kick-start the transformation of the much-anticipated GSW into a mega waterfront development along Singapore’s southern coast.
https://www.straitstimes.com/singapore/housing/will-the-greater-southern-waterfront-be-included-under-hdbs-prime-location-public-housing-model

4-room flat in Greater Southern Waterfront may cost over $700k, 5-room units unlikely: Analysts
Singapore – Property analysts expect the price of a four-room Housing Board Build-To-Order (BTO) flat in the Greater Southern Waterfront (GSW) to range from $600,000 to more than $700,000. Three-room units at the Keppel Club site could be priced between $400,000 and $500,000, while five-room units are unlikely to be offered, as the price would be too steep, analysts said.
https://www.straitstimes.com/singapore/housing/4-room-flat-in-greater-southern-waterfront-may-cost-over-700k-5-room-units-unlikely-analysts

Companies’ Brief

Chief executives at 13 STI companies receive higher remuneration in 2021
Chief executives at 13 of the Straits Times Index (STI) component companies saw an increase in their remuneration for FY2021. That number represented more than half of the 21 stocks with a financial year that ended in Dec 31.
https://www.businesstimes.com.sg/companies-markets/chief-executives-at-13-sti-companies-receive-higher-remuneration-in-2021

Hatten Land rebrands Melaka mall into e-sports hub, raises S$5m via new shares
Hatten Land said on Wednesday (Apr 13) that it will be rebranding Elements Mall in Melaka, Malaysia into an e-sports hub. To fund this new business strategy, the property developer said in a bourse filing that it will be raising S$5 million by issuing close to 122 million new shares, at S$0.041 per share.
https://www.businesstimes.com.sg/companies-markets/hatten-land-rebrands-melaka-mall-into-e-sports-hub-raises-s5m-via-new-shares
https://www.straitstimes.com/business/companies-markets/hatten-land-rebrands-melaka-mall-into-e-sports-hub-raises-5m-via-new-shares

Dasin Retail Trust units down 3.23% after auditor’s going-concern comments
Dasin Retail Trust units closed 3.23 per cent or S$0.01 lower at S$0.30 on turnover of 872,700 units on Tuesday (Apr 12), a day after the trustee-manager of the real estate investment trust (Reit) said that the Reit’s auditor had raised concerns about the Reit’s ability to continue as a going concern.
https://www.businesstimes.com.sg/companies-markets/dasin-retail-trust-units-down-323-after-auditors-going-concern-comments

Manager discloses indicative timeline of ESR-Reit-Ara Logos Logistics Trust merger
The transfer books and the registers of ESR-Reit unitholders and Ara Logos Logistics Trust unitholders will be closed at 5pm on Apr 21 to determine the entitlements of these unitholders to their respective clean-up distributions for the period from Jan 1 up to a day before the effective date of their merger.
https://www.businesstimes.com.sg/companies-markets/manager-discloses-indicative-timeline-of-esr-reit-ara-logos-logistics-trust-merger

Views, Reviews, Forum and Others

Three trends shaping the future of payments in Singapore
Consumer demand for convenience is a powerful driver in the payments industry, one that has accelerated the growth of digital commerce. Growing even more popular since the start of the pandemic, the digital economy in Singapore is expected to reach US$15 billion by 2025.
https://www.businesstimes.com.sg/opinion/three-trends-shaping-the-future-of-payments-in-singapore

Why stagflation is more likely than not
Last month, searches for the word “stagflation” hit “peak popularity” on Google trends, far exceeding its level during the global financial crisis in 2008. A combination of the words “stagnation” and “inflation”, it was something the world last experienced during the 1970s. After more than three decades of low inflation, we could be forgiven for thinking the term had gone extinct.
https://www.straitstimes.com/opinion/economicaffairs-why-stagflation-is-more-likely-than-not

Update on COVID-19 (Coronavirus Disease 2019) Situation

4,552 new Covid-19 cases in Singapore, 4 deaths reported: MOH
[Singapore] The number of daily new Covid-19 infections in Singapore climbed to 4,552 on Tuesday (Apr 12), nearly double from 2,568 cases the day before. Case numbers on Tuesdays tend to be higher compared with the rest of the week as they reflect the spike in infections after the weekend, when more people are out in various social settings.
https://www.businesstimes.com.sg/government-economy/4552-new-covid-19-cases-in-singapore-4-deaths-reported-moh
https://www.straitstimes.com/singapore/health/4552-new-covid-19-cases-locally-four-deaths-reported-moh

Government didn’t get every call right in managing Covid-19 pandemic, but was prepared to revise, reverse its decisions: PM Lee
While the government did not get every call right in managing the pandemic, it was prepared to update, revise and even reverse its decisions as more information was uncovered, said Prime Minister Lee Hsien Loong.
https://www.businesstimes.com.sg/government-economy/government-didnt-get-every-call-right-in-managing-covid-19-pandemic-but-was
https://www.straitstimes.com/singapore/govt-didnt-get-every-call-right-on-covid-19-but-was-prepared-to-revise-reverse-its-decisions-pm-lee

Singaporeans’ trust in the government key to handling of Covid-19 crisis: PM Lee
[Singapore] Singaporeans trust that the government has the best interests of Singapore and Singaporeans at heart, said Prime Minister Lee Hsien Loong, and the trust has been key to the country’s handling of the Covid-19 crisis.
https://www.businesstimes.com.sg/government-economy/singaporeans-trust-in-the-government-key-to-handling-of-covid-19-crisis-pm-lee
https://www.straitstimes.com/singapore/singaporeans-trust-in-the-govt-key-to-handling-of-covid-19-crisis-pm-lee

*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