DAILY NEWS

Daily News – 14 September 2021 (Tue)

Singapore Real Estate

Singapore condo resale prices up 0.5% in August as volume rises 4.9%: SRX
Singapore – Demand for resale non-landed private homes remained robust in August, with prices climbing and more units changing hands despite the Hungry Ghost festival when sales typically slow down. Condominium resale prices climbed 0.5 per cent month on month, albeit at a slower pace than the revised0.9 per cent jump in July, according to flash figures from real estate portal SRX on Tuesday (Sept 14).
https://www.straitstimes.com/business/property/singapore-condo-resale-prices-up-05-in-august-as-volume-rises-49-srx

Singapore new private home sales down 24% to 1,211 units in August
New private home sales slipped in August after hitting a six-month high the previous month. Based on caveats lodged, analysts estimated that developers in Singapore sold 1,211 new private homes in August, down 23.8 per cent from July’s 1,589 units.
https://www.businesstimes.com.sg/real-estate/singapore-new-private-home-sales-down-24-to-1211-units-in-august

Private commercial landlords to give two weeks of mandatory rental waiver: MinLaw
Private commercial landlords in Singapore will be required to provide two weeks of rental waiver to qualifying tenants under the new Rental Waiver Framework tabled in Parliament on Monday.
https://www.businesstimes.com.sg/government-economy/private-commercial-landlords-to-give-two-weeks-of-mandatory-rental-waiver-minlaw
https://www.straitstimes.com/singapore/politics/parliament-two-weeks-of-rental-waiver-for-qualifying-sme-and-non-profit-tenants

Frasers Property’s Parc Greenwich sells 65% of units at launch weekend
Frasers Property’s executive condominium (EC) Parc Greenwich moved about 65 per cent or 322 of its 496 units over its launch weekend on Sept 11 and 12. Prices started from S$895,000 for the two-bedroom units, S$1.05 million for the three-bedroom units, S$1.2 million for the three-bedroom-plus-study units, S$1.38 million for the four-bedroom units and S$1.7 million for the five-bedroom units.
https://www.businesstimes.com.sg/real-estate/frasers-propertys-parc-greenwich-sells-65-of-units-at-launch-weekend
https://www.straitstimes.com/business/property/parc-greenwich-ec-sells-65-of-units-on-launch-weekend

High stakes on the table for Singapore’s integrated resorts
The two IRs must navigate a tourism, leisure and entertainment landscape transformed by Covid-19.
https://www.businesstimes.com.sg/real-estate/high-stakes-on-the-table-for-singapores-integrated-resorts

Singapore Economy

Singapore’s economy will continue to grow, recover in H2 2021 and into 2022: Iswaran
Singapore’s outward-facing sectors will continue to grow at a healthy pace in the second half of the year, “barring a major setback in the global economy”. That’s the prognosis from the Ministry of Trade and Industry (MTI), in a reply on Monday to a parliamentary question on the economic outlook.
https://www.businesstimes.com.sg/government-economy/singapores-economy-will-continue-to-grow-recover-in-h2-2021-and-into-2022-iswaran
https://www.straitstimes.com/singapore/politics/increased-covid-19-vaccination-efforts-in-the-region-should-boost-economic

Singapore business sentiment improves slightly for Q4 but construction, transportation stay gloomy: Survey
Singapore – Local companies’ business confidence improved further for the fourth quarter amid resilient demand and a positive outlook for manufacturing and the financial services sectors, according to a survey out on Tuesday (Sept 14).
https://www.straitstimes.com/business/economy/singapore-business-sentiment-improves-slightly-for-q4-but-construction-and

Singapore may gain economic edge over Hong Kong from diverging Covid-19 strategies
Singapore – Singapore’s plan to live with the pandemic will be closely watched in the coming weeks. If the Republic’s healthcare system is able to cope with the rising number of Covid-19 infections, economists say the next move will be opening up borders to foreign talent.
https://www.straitstimes.com/business/companies-markets/singapore-may-gain-economic-boost-over-hong-kong-from-diverging-covid-19

Companies’ Brief

Park Hotel Group ends management of Grand Park Orchard; Singapore portfolio shrinks to two
Singapore – Park Hotel Group has terminated its management contract for Grand Park Orchard hotel, bringing the number of hotels it manages in Singapore down to two from six hotels, The Straits Times learnt on Monday (Sept 13).
https://www.straitstimes.com/business/property/park-hotel-group-ends-management-of-grand-park-orchard-spore-portfolio-shrinks-to

Keppel DC Reit unit obtains two six-year revolving credit facilities
Keppel DC Reit through its wholly-owned subsidiary Keppel DC Reit Financial Company (KDCRFC) on Monday announced that it has obtained two six-year revolving credit facilities guaranteed by Perpetual (Asia) in its capacity as the trustee of Keppel DC Reit.
https://www.businesstimes.com.sg/real-estate/keppel-dc-reit-unit-obtains-two-six-year-revolving-credit-facilities

Views, Reviews, Forum & Others

Time to consider a wealth tax for Singapore
Prudence, discipline and fairness have been the hallmarks of fiscal management in Singapore. However, Covid-19 has massively tipped the budget balance into unprecedented negative territory, with the country registering a record overall deficit of 13.9 per cent of gross domestic product (GDP) last year.
https://www.straitstimes.com/opinion/time-to-consider-a-wealth-tax-for-spore

‘Talent’ greenwashing risk in finance sector
With sustainable finance moving towards the core of investment decisions, many financial institutions are grappling to fill knowledge gaps to address these shifts. With demand for sustainable finance growing and increasing regulatory requirements to be met, the scramble for environment, social and governance (ESG) talent has grown sizeably over the last few years.
https://www.businesstimes.com.sg/opinion/talent-greenwashing-risk-in-finance-sector

With economies on the brink, South-east Asia chooses to reopen amid Covid-19 outbreaks
Hanoi (Bloomberg) – Even as they struggle with one of the world’s worst Covid-19 outbreaks, nations across South-east Asia are slowly realising that they can no longer afford the economy-crippling restrictions needed to squash it.
https://www.straitstimes.com/asia/se-asia/with-economies-on-the-brink-southeast-asia-chooses-to-reopen-amid-covid-19-outbreaks

Prioritising employee experience in a digital-first world
2020 was a strategic wake-up call where the pandemic brought about years of change in a span of a few months. Digital adoption has taken a quantum leap as the crisis pushed companies over the technology tipping point and transformed businesses forever.
https://www.businesstimes.com.sg/sme/prioritising-employee-experience-in-a-digital-first-world

Update on COVID-19 (Coronavirus Disease 2019) Situation

607 new Covid-19 cases in S’pore; new cluster with 28 cases at Ren Ci nursing home in Bukit Batok
Singapore – A new cluster with 28 cases has surfaced at Ren Ci nursing home in Bukit Batok, as the Health Ministry reported 607 new Covid-19 cases on Monday (Sept 13). Of the 28 cases at the home in Bukit Batok Street 52, 20 are residents and eight are staff.
https://www.straitstimes.com/singapore/607-new-covid-19-cases-in-spore-new-cluster-with-28-cases-at-ren-ci-nursing-home-in-bukit

*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