DAILY NEWS

Daily News – 12, 13 & 14 March 2022 (Sat, Sun & Mon)

Singapore Real Estate

More people in Singapore may seek to rent homes this year
Many people here dream of owning an investment property for passive rental income. But in the face of higher property taxes, inflation and rising mortgage rates, will such properties continue to be attractive to investors and landlords?
https://www.straitstimes.com/business/invest/more-people-may-seek-to-rent-homes-this-year-0

Architects and developers go big on immersive design
Singapore – There are two ways that people interact with their built environment – passively or actively. A passive appreciation of urban spaces is usually limited to visual stimuli, such as the shape of a building, its interiors, colours and scale as compared with other buildings nearby, says Professor Keat Ong, president of the Society of Interior Designers (Singapore).
https://www.straitstimes.com/life/home-design/designing-new-spatial-experiences

Singapore Economy

Russia-Ukraine conflict not likely to have direct impact on Singapore’s food supply
Singapore – While Singapore does import some foods, such as eggs and cooking oil, from Ukraine, as well as seafood and alcoholic beverages from Russia, volumes are low, said the Singapore Food Agency (SFA).
https://www.straitstimes.com/singapore/consumer/russia-ukraine-conflict-not-likely-to-have-direct-impact-on-singapores-food-supply

Increase in prices for some retail goods expected as Ukraine crisis continues
Singapore – Prices of some retail goods have gone up as Singapore firms grapple with the impact of rising costs which have been worsened by the Russian invasion of Ukraine. This comes on the back of increasing costs and operational challenges caused by the ongoing Covid-19 pandemic.
https://www.straitstimes.com/singapore/increase-in-prices-for-some-retail-goods-expected-as-ukraine-crisis-continues

Companies’ Brief

Hatten Land says it can repay RM206m borrowings with unsold properties
Catalist-listed Hatten Land stated that the borrowings of RM206 million (S$66.4 million) due in a year could be repaid as its unsold, completed properties are worth a “substantial value”. In its response to queries from the Singapore Exchange (SGX), Hatten Land said on Friday (Mar 11) that the estimated market value of its development properties – excluding those of Gold Mart – stood at RM780.8 million as at Jun 30, 2021.
https://www.businesstimes.com.sg/companies-markets/hatten-land-says-it-can-repay-rm206m-borrowings-with-unsold-properties

S-Reits hedge against rising interest rates
The iEdge S-Reit Index declined 3 per cent in total returns in 2022 year to date (YTD), amid geopolitical escalations, macro uncertainty and increasing expectations of a potential rate hike. Despite the decline, it remained one of the most defensive Reit indices globally, with the FTSE EPRA Nareit Developed Index declining 7 per cent during the same period.
https://www.businesstimes.com.sg/companies-markets/s-reits-hedge-against-rising-interest-rates-0

Ukraine war has ‘no direct impact’ on Cromwell E-Reit’s portfolio
With more than 85 per cent of its 2.5 billion euro (S$3.7 billion) European portfolio in Western Europe, Cromwell European Real Estate Investment Trust (Cromwell E-Reit) said in a filing on the Singapore Exchange on Monday (Mar 14) that the ongoing war between Ukraine and Russia has “no direct impact” on its portfolio.
https://www.businesstimes.com.sg/real-estate/ukraine-war-has-no-direct-impact-on-cromwell-e-reits-portfolio
https://www.straitstimes.com/business/companies-markets/cromwell-e-reit-says-ukraine-war-has-no-direct-impact-on-its-portfolio

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1532

Views, Reviews, Forum and Others

A step forward with streamlined measures
The simplification of safe management measures from tomorrow will ease Singaporeans into living more easily with the coronavirus pandemic. That is to be welcomed. But it must also be remembered that the healthcare system should not be allowed to be overwhelmed because society has lowered its guard.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-a-step-forward-with-streamlined-measures

Changes keep public housing equitable
The Ministry of National Development’s (MND) plans, revealed in Parliament this week, to buy back flats that owners are unable to sell when ethnic quota limits are reached, to raise the quantum of a grant to help families in public rental flats buy their second Housing Board flat, and to help singles move into rental flats are all indications of a regular refining of public housing policy so as to keep it equitable.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-changes-keep-public-housing-equitable

UK homes draw Asian investors amid price boom, undersupply
The UK residential property market is back to drawing individual investors from Singapore and the rest of Asia, having been roused from a deep sleep caused by pandemic lockdowns, property lawyers and analysts said.
https://www.businesstimes.com.sg/global-enterprise/uk-homes-draw-asian-investors-amid-price-boom-undersupply

Singapore, Asian housing property investors branch out of London to other UK cities
More individual investors from Singapore and other Asian markets are growing their presence in other UK housing markets outside of London’s prime areas.
https://www.businesstimes.com.sg/real-estate/singapore-asian-housing-property-investors-branch-out-of-london-to-other-uk-cities

The metaverse land boom: economy of the future or a bubble?
The virtual real estate economy wobbles when it holds on to the same dynamics and value judgements as the physical property market.
https://www.businesstimes.com.sg/wealth-investing/the-metaverse-land-boom-economy-of-the-future-or-a-bubble

Should we fear stagflation?
Preconditions for the inflation side of stagflation is improbable. Demand seems unlikely to outpace supply on a recurring basis, neither is a wage-price spiral.
https://www.businesstimes.com.sg/wealth-investing/should-we-fear-stagflation

Why crypto investments are not for everyone
Singapore – There are two very good reasons why the Monetary Authority of Singapore discourages people in the street from dabbling in cryptocurrency. You probably know the first – namely that crypto can have wild price swings that can cause you to have sleepless nights.
https://www.straitstimes.com/business/invest/why-crypto-investments-are-not-for-everyone

The business value in the S of ESG
The contrasting fates between overnight South Korean Netflix star Song Ji-a and Chinese ultra-fast fashion retailer Shein have shown how jarringly unequal the effects of cancel culture between individuals and companies can be.
https://www.businesstimes.com.sg/companies-markets/the-business-value-in-the-s-of-esg

NUS scientists to study construction workers’ risk of heat stress
Singapore – Scientists here will start a new study into how susceptible construction workers are to heat stress at their worksites and dormitories next month.
https://www.straitstimes.com/singapore/environment/nus-scientists-to-study-construction-workers-risk-of-heat-stress

Singapore Budget 2022

ST-BT Budget 2022 roundtable with Lawrence Wong to discuss Singapore’s ‘new way forward’
Finance Minister Lawrence Wong will speak on Singapore’s aim to forge a more dynamic and greener economy anchored by a fairer tax system, at a roundtable organised by The Business Times and The Straits Times on Monday (Mar 14).
https://www.businesstimes.com.sg/government-economy/st-bt-budget-2022-roundtable-with-lawrence-wong-to-discuss-singapores-new-way
https://www.straitstimes.com/business/economy/lawrence-wong-to-join-st-bt-budget-roundtable-2022-today-on-new-way-forward

Parliament approves $109b Budget after vigorous debate impacted by virus surge, Ukraine war
Singapore – The Covid-19 virus did not discriminate as MPs from both sides of the House were infected in the last two weeks, yet the Budget debates were vigorous, said Leader of the House Indranee Rajah on Friday (March 11).
https://www.straitstimes.com/singapore/politics/parliament-approves-109b-budget-after-vigorous-debate-impacted-by-virus-surge-ukraine-war

Budget debate: Building blocks for a fairer, greener and more inclusive Singapore
Singapore – If Singapore’s Budget 2022 statement was a post-pandemic road map for the city state, then the ensuing debates on each ministry’s spending plans could perhaps be described as the building blocks for what this Singapore could look like.
https://www.straitstimes.com/singapore/politics/budget-debate-building-blocks-for-a-fairer-greener-and-more-inclusive-singapore

Income tax will apply to NFT transactions: Wong
Singapore’s prevailing income tax rules will apply to transactions of non-fungible tokens, or NFTs, said Finance Minister Lawrence Wong in Parliament on Friday (Mar 11). In a parliamentary reply to Yio Chu Kang SMC Member of Parliament Yip Hon Weng, Wong said that the income tax treatment “will be determined based on the nature and use of the NFT”.
https://www.businesstimes.com.sg/government-economy/income-tax-will-apply-to-nft-transactions-wong-0

Tax raises never popular, but right thing to do for sound stewardship of S’pore’s finances: Lawrence Wong
Singapore – It is never popular to raise taxes, let alone the goods and services tax (GST), but the Government has to do the right thing to uphold sound management and stewardship of the country’s finances, said Finance Minister Lawrence Wong on Friday (March 11).
https://www.straitstimes.com/singapore/politics/tax-raises-never-popular-but-the-right-thing-to-do-for-sound-stewardship-of-singapores-finances-lawrence-wong

Update on COVID-19 (Coronavirus Disease 2019) Situation

Daily Covid-19 infections in Singapore drop below 10,000 for first time in a month
[Singapore] The total number of daily Covid-19 cases dipped below 10,000 for the first time in about a month, with 9,701 total cases reported on Sunday (Mar 13). There were also 1,348 hospitalisations on Sunday, according to the Ministry of Health’s (MOH) daily update.
https://www.businesstimes.com.sg/government-economy/daily-covid-19-infections-in-singapore-drop-below-10000-for-first-time-in-a-month
https://www.straitstimes.com/singapore/health/daily-covid-19-infections-in-spore-drop-below-10000-for-first-time-in-a-month

Parliament: Law allowing Covid-19 control measures extended to 2023
Singapore – The law allowing the authorities to impose Covid-19 control measures, such as to prohibit social gatherings, has been extended by one year and is now set to lapse on April 8, 2023.
https://www.straitstimes.com/singapore/politics/parliament-law-allowing-covid-19-control-measures-extended-to-2023

‘Streamlining’ of Covid-19 measures from Mar 15 as Omicron wave peaks
Plans to “streamline” Singapore’s safe-management measures, including removing safe-distancing rules for mask-on settings, will go ahead from Mar 15 as the Omicron Covid-19 wave has peaked here.
https://www.businesstimes.com.sg/government-economy/streamlining-of-covid-19-measures-from-mar-15-as-omicron-wave-peaks-0
https://www.straitstimes.com/singapore/booster-dose-required-for-those-aged-12-to-17-team-sports-resume-updates-to-covid-19-rules-at-a-glance

Simplified testing for VTL arrivals from Mar 15; Singapore working with Malaysia on Apr 1 reopening
Singapore is further simplifying its on-arrival tests for Vaccinated Travel Lane (VTL) arrivals, in preparation for a new Vaccinated Travel concept in the coming weeks, the multi-ministry taskforce on Covid-19 said at a press conference on Friday (Mar 11).
https://www.businesstimes.com.sg/government-economy/simplified-testing-for-vtl-arrivals-from-mar-15-singapore-working-with-malaysia
https://www.straitstimes.com/singapore/transport/vaccinated-travellers-to-singapore-from-low-risk-and-vtl-areas-can-take-non-supervised-art

Strong demand for Singapore-Malaysia bus tickets after land VTL quota raised
Singapore – The release of additional bus tickets on Friday (March 11) for vaccinated people to travel over land between Singapore and Malaysia without quarantine was met with strong demand, though it appeared to be less fervent than previous sales.
https://www.straitstimes.com/singapore/strong-demand-for-spore-malaysia-bus-tickets-after-land-vtl-quota-raised

‘Too early’ to consider relaxing Covid-19 rules on live music, alcohol consumption: Wong
It is still “too early” to consider relaxing curbs on higher-risk activities such as live music and the sale of alcohol past 10.30pm, which fall outside the 5 key parameters for safe management measures, but the Covid-19 multi-ministry taskforce is studying this “very carefully”, Finance Minister Lawrence Wong said on Friday (Mar 11).
https://www.businesstimes.com.sg/government-economy/too-early-to-consider-relaxing-covid-19-rules-on-live-music-alcohol-consumption

Covid-19 rules, community visit limits to be eased for migrant workers in dorms
Singapore – There will no longer be differentiated Covid-19 safety measures for migrant workers living in dormitories here, as the same rules that apply to the wider community will soon apply to such workers too.
https://www.straitstimes.com/singapore/covid-19-safety-measures-community-visit-limts-to-be-eased-for-migrant-workers-living-in-dorms

*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