DAILY NEWS

Daily News – 13 July 2021 (Tue)

Singapore Real Estate

Could an en bloc lottery ticket be found in a Singapore parking lot?
Demand for car parks has been gaining traction among real estate investors for its low maintenance costs and recurring income. But down the line, quiet hopes of a redevelopment windfall may also be at the back of the minds of some investors with more patient capital.
https://www.businesstimes.com.sg/real-estate/could-an-en-bloc-lottery-ticket-be-found-in-a-singapore-parking-lot

Facelifts for office buildings
A few major office landlords in Singapore are refreshing their properties and tweaking layouts to woo tenants. At One Raffles Quay, refurbishment of selected common areas is being planned, said Chong Kee Hiong, chief executive of Suntec Reit’s manager ARA Trust Management (Suntec).
https://www.businesstimes.com.sg/real-estate/facelifts-for-office-buildings

Singapore office landlords embrace flexibility and tech as they spruce up properties
Owners of Grade A office properties in Singapore are injecting more flexibility, tech innovation and refurbishments into their offerings, to vie for tenants seeking higher-quality spaces and agile workplace leasing.
https://www.businesstimes.com.sg/real-estate/singapore-office-landlords-embrace-flexibility-and-tech-as-they-spruce-up-properties

Is luxury property Eden the last of its kind?
Amid the strong performance of the Singapore private residential property market this year, a deal that stood out was the purchase by the Tsai family of Taiwan, who are behind snack food giant Want Want China Holdings, of all 20 apartments in the freehold luxury residential project Eden, at 2 Draycott Park.
https://www.businesstimes.com.sg/real-estate/is-luxury-property-eden-the-last-of-its-kind

Restaurants rethink CBD, Orchard locations as work from home becomes norm
[Singapore] Old-school Cantonese eatery Swee Kee Eating House in the central business district (CBD) suffered monthly losses of about S$30,000 for almost a year before it decided to shut its doors. The 82-year-old restaurant in Amoy Street, known for dishes such as fish-head beehoon, served its last customer on May 30, even though its lease was supposed to be up only in the last quarter of the year.
https://www.businesstimes.com.sg/real-estate/restaurants-rethink-cbd-orchard-locations-as-work-from-home-becomes-norm
https://www.straitstimes.com/singapore/jobs/restaurants-rethink-locations-in-cbd-as-work-from-home-becomes-norm-0

Singapore Economy

Q2 GDP may dip from Q1 but recovery still on track: economists
While Singapore’s economy is likely to post a stellar year-on-year rebound in the second quarter, economists are also expecting a small sequential decline due to the tighter Covid-19 restrictions imposed in May and June.
https://www.businesstimes.com.sg/government-economy/q2-gdp-may-see-small-sequential-fall-but-recovery-still-on-track-economists

Companies’ Brief

SPH Reit’s distribution per unit up 11.3 per cent in Q3 as revenue recovers
SPH Real Estate Investment Trust’s (Reit) revenue and distribution rose in the third quarter ended May 31, with distribution per unit (DPU) for the quarter reaching pre-Covid levels. Gross revenue for the nine months ended May 31 was up 22.2 per cent year on year at S$209.6 million, according to a business update by the Reit after market close on Monday.
https://www.businesstimes.com.sg/real-estate/sph-reits-distribution-per-unit-up-113-per-cent-in-q3-as-revenue-recovers
https://www.straitstimes.com/business/companies-markets/sph-reits-dpu-for-q3-climbs-113-highest-since-pandemic-hit

Hospitality Reits could register higher RevPAR in Q2, with recovery in 2022
Hospitality Reits could post an uptick in revenue per available room (RevPAR) in Q2, supported partly by an increase in stay home notices (SHN) as Singapore saw a resurgence in virus cases during the quarter. But a recovery, and a sustainable one at that, will take a bit more time and may only be seen in 2022.
https://www.businesstimes.com.sg/companies-markets/hospitality-reits-could-register-higher-revpar-in-q2-with-recovery-in-2022

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1414

Views, Reviews, Forum & Others

Joining forces in the war against Big Tech
Last Wednesday, it was the turn of the American political right, in the form of its most recognised public figure, to launch an attack on the Big Tech companies that some in the Republican Party detest and seek to regulate.
https://www.businesstimes.com.sg/opinion/joining-forces-in-the-war-against-big-tech

Are cities ready for climate change issues?
As the UK government finalises plans for the forthcoming COP 26 climate summit, last Sunday’s World Population Day underlined how much demographic issues have risen up the political and economic radar in recent years, especially on the sustainability front.
https://www.businesstimes.com.sg/opinion/are-cities-ready-for-climate-change-issues

Mercurius diversifies into grocery business, aims to open over 500 stores across region
Catalist-listed Mercurius Capital Investment is diversifying into the grocery business, and the company’s ambition is to grow into a network of over 500 stores across the region over the next three years. In an interview with The Business Times on Monday…
https://www.businesstimes.com.sg/consumer/mercurius-diversifies-into-grocery-business-aims-to-open-over-500-stores-across-region

US-China tech decoupling: Chinese entrepreneur sees role for Singapore
As the United States seeks to decouple technologically from China and Beijing retaliates, there are opportunities to be had in this tussle, for Singapore, a Chinese entrepreneur has said. This is because there is a need for a buffer zone between the two sides, said Dr Xiao Feng, chairman and chief executive of Wanxiang Blockchain Inc, at the FutureChina Global Forum, organised by Business China, in Singapore yesterday.
https://www.straitstimes.com/singapore/us-china-tech-decoupling-chinese-entrepreneur-sees-role-for-singapore

Asean, China must deepen ties and manage disputes rationally: DPM Heng
Competition by itself is not a bad thing, but adversarial competition, particularly between the US and China, can be problematic, said Deputy Prime Minister Heng Swee Keat on Monday. Speaking at the FutureChina Global Forum, he said: “I believe that China will continue to grow and become the biggest economy in the world.
https://www.businesstimes.com.sg/government-economy/asean-china-must-deepen-ties-and-manage-disputes-rationally-dpm-heng
https://www.straitstimes.com/singapore/politics/asean-china-can-explore-new-areas-of-growth-heng

Singapore to strengthen collaboration with China’s Greater Bay Area: Ong Ye Kung
Sino-Singapore collaboration will continue to strengthen, despite the disruptions that have been brought on by the ongoing Covid-19 pandemic, said Health Minister Ong Ye Kung at the FutureChina Global Forum on Monday.
https://www.businesstimes.com.sg/government-economy/singapore-to-strengthen-collaboration-with-chinas-greater-bay-area-ong-ye-kung-0
https://www.straitstimes.com/singapore/politics/spore-china-can-build-on-solid-start-in-greater-bay-area-ong-ye-kung

It’s on to the next frontier
The past year has seen a dramatic acceleration in the adoption of environmental, social and governance (ESG) factors in portfolio managers’ investment processes. Today, a vanilla global equity or multi-asset fund is likely to at least blacklist sectors such as coal and munitions.
https://www.businesstimes.com.sg/magazines/wealth-july-2021/it%E2%80%99s-on-to-the-next-frontier

Infrastructure in post-Covid future
Since 2017, Credit Suisse has been identifying and examining Supertrends – long-term societal trends that could lead to fast-growing business opportunities and enable investors to grow their capital. This year, Supertrends are confronting the post-Covid world, as governments, businesses and citizens look to rebuild for a more inclusive and sustainable future
https://www.businesstimes.com.sg/infographics/wealth-july-2021/infrastructure-in-post-covid-future

Update on COVID-19 (Coronavirus Disease 2019) Situation

Free testing for those who visited 3 former KTV outlets linked to cases
The Ministry of Health (MOH) is investigating Covid-19 infections among a group of Vietnamese social hostesses who had frequented KTV lounges or clubs now operating as food and beverage outlets. Their close social contacts are also being looked at, MOH said yesterday in a statement.
https://www.straitstimes.com/singapore/health/free-testing-for-those-who-visited-3-former-ktv-outlets-linked-to-cases

Many happy to eat out together with their friends and family
A pre-lunch crowd of mostly seniors was observed making full use of the five-person dine-in rule that kicked in yesterday. Many welcomed the easing of restrictions after almost three weeks of being limited by a cap of two people to a table at eateries. The cap lasted from June 21 to Sunday.
https://www.straitstimes.com/singapore/consumer/many-happy-to-eat-out-together-with-their-friends-and-family

*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