DAILY NEWS

Daily News – 15 June 2021 (Tue)

Singapore Real Estate

Property market sees rise in spoof messages from purported agents
The stronger property market in Singapore may have unleashed a new trend – that of text spoofing. There has been a rise in spoofing cases, in which scammers pose as property agents asking homeowners if they want to rent out their spaces, said analysts.
https://www.businesstimes.com.sg/real-estate/property-market-sees-rise-in-spoof-messages-from-purported-agents

Sovereign wealth funds pumping more money into real estate, alternative assets
Sovereign wealth funds (SWFs) are injecting more capital into higherreturning alternative assets such as property, although some heavyweights fall short of their targets. Investments into real estate, private equity and infrastructure by such state-owned investment funds grew substantially over the past decade.
https://www.businesstimes.com.sg/real-estate/sovereign-wealth-funds-pumping-more-money-into-real-estate-alternative-assets

Sustainable real estate asset investments to grow in Asean, says property player Acre
There is an expected rise in sustainable multi-family real estate asset investment in markets such as Thailand and South-east Asia, said property player Asia Capital Real Estate (Acre), as it taps green financing to support this emerging segment.
https://www.businesstimes.com.sg/real-estate/sustainable-real-estate-asset-investments-to-grow-in-asean-says-property-player-acre

Perpetuals lure as cheap equity for hungry-to-acquire Reits
There are businesses that list in Singapore, and raise no further capital once their listing status is secured. That, however, is not the story for real estate investment trusts (Reits) listed here. In particular, the S-Reits are active in raising equity in the secondary market to buy properties.
https://www.businesstimes.com.sg/real-estate/perpetuals-lure-as-cheap-equity-for-hungry-to-acquire-reits

Singapore Economy

Singapore GDP tipped to grow 6.5%, led by manufacturing and exports: MAS survey
The strong global economic recovery is fuelling optimism among private-sector economists, who have further raised their full-year Singapore outlook to 6.5 per cent, the central bank’s survey of professional forecasters on Monday showed.
https://www.businesstimes.com.sg/government-economy/singapore-gdp-tipped-to-grow-65-led-by-manufacturing-and-exports-mas-survey
https://www.businesstimes.com.sg/infographics/reeling-from-the-impact-of-covid-19
https://www.straitstimes.com/business/economy/analysts-raise-gdp-forecast-to-65

Singapore business sentiment remains positive for Q3: SCCB survey
Business sentiment in Singapore has remained expansionary for the second consecutive quarter in Q3 2021. On Monday, the Singapore Commercial Credit Bureau’s (SCCB) latest overall quarterly Business Optimism Index (BOI) was at +4.07 percentage points for Q3 2021, up from +3.94 percentage points in the previous quarter, and -5.16 percentage points in Q3 2020.
https://www.businesstimes.com.sg/sme/singapore-business-sentiment-remains-positive-for-q3-sccb-survey
https://www.straitstimes.com/business/economy/spore-business-confidence-for-q3-improves-slightly-poll

Companies’ Brief

Lian Beng’s Ong family makes S$0.50 per share mandatory conditional cash offer following married deal
On Monday, the Ong family which controls civil engineering and construction group Lian Beng announced a mandatory conditional cash offer at 50 Singapore cents per share, following a married deal. The family had, through its investment holding company Ong Sek Chong & Sons, acquired nearly 5.9 million shares or about 1.2 per cent of the total number of issued and paid-up ordinary shares issued by Lian Beng Group.
https://www.businesstimes.com.sg/companies-markets/lian-bengs-ong-family-makes-s050-per-share-mandatory-conditional-cash-offer

MC Payment says exploratory talks with NGSC concluded with no outcome
MC Payment on Monday clarified that the board’s grant of authorisation to chief executive Anthony Koh was to allow the company to “engage in exploratory talks with NGSC”. Those talks have concluded with no outcome, the digital payments company said in its response to queries from the Singapore Exchange.
https://www.businesstimes.com.sg/companies-markets/mc-payment-says-exploratory-talks-with-ngsc-concluded-with-no-outcome

Stamford Land to divest six hotels in Australia and NZ
Singapore – Mainboard-listed Stamford Land has put up for sale six of its hotels in Australia and New Zealand, less than three months after announcing its intention to divest some of its assets and move to an “asset-light” strategy.
https://www.straitstimes.com/business/companies-markets/stamford-land-to-divest-six-hotels-in-australia-and-nz

Flexibility is key in helping IReit Global scale up: CEO
Capitalisation rates of properties in Europe – particularly those in the logistics sector – are being pushed ever lower, making it hard for real estate investors to find attractively priced assets. “It’s mainly related to the fact you’ve still got significant amount of money flowing (into) these markets,” said Louis d’Estienne d’Orves, chief executive of IReit Global’s manager.
https://www.businesstimes.com.sg/companies-markets/flexibility-is-key-in-helping-ireit-global-scale-up-ceo

Views, Reviews, Forum & Others

Time to take charge of making supply chains sustainable
As retailers benefit from the significant increase in e-commerce orders – South-east Asia saw an increase of over 60 per cent in gross merchandise value (GMV) to US$62 billion in just one year in 2020 – more needs to be done to ensure the sustainability of supply chains.
https://www.businesstimes.com.sg/opinion/time-to-take-charge-of-making-supply-chains-sustainable

F&B, retail micro, small enterprises ‘coping better’ during heightened alert versus circuit breaker: DBS
Micro and small enterprises in Singapore’s food and beverage (F&B) and retail sector are coping better during the Phase 2 Heightened Alert (HA) versus last year’s “circuit-breaker” period, DBS said on Monday. About 35 per cent of micro and small enterprises in these sectors indicated a more than half drop in earnings since the start of the heightened alert period.
https://www.businesstimes.com.sg/sme/fb-retail-micro-small-enterprises-coping-better-during-heightened-alert-versus-circuit-breaker

Climate change and pandemic tweaking sovereign wealth funds’ focus
Covid-19 is rewriting the rules for sovereign wealth funds (SWFs) and state investors. The pandemic and the threat of climate change are leading to the wider adoption of “double bottom lines”, where strategic, environmental, social and economic development goals sit alongside financial ones.
https://www.businesstimes.com.sg/banking-finance/climate-change-and-pandemic-tweaking-sovereign-wealth-funds-focus

Update on COVID-19 (Coronavirus Disease 2019) Situation

Bukit Merah View market Covid-19 cluster grows to 16 cases
[Singapore] The Bukit Merah View market and food centre Covid-19 cluster has grown by 10 cases, said the Ministry of Health (MOH) on Monday night. This brings the total number of those infected in the cluster to 16. MOH said a total of 25 new coronavirus cases were confirmed as at Monday, including 19 locally transmitted cases.
https://www.businesstimes.com.sg/government-economy/bukit-merah-view-market-covid-19-cluster-grows-to-16-cases
https://www.straitstimes.com/singapore/health/10-new-cases-added-to-bukit-merah-view-cluster-total-now-16

Covid-19 testing starts for 85 stallholders at Block 116 Bukit Merah View
Mandatory Covid-19 testing started at 10am yesterday for 85 stallholders at Block 116 Bukit Merah View. A temporary site was set up at Block 125A for this. The testing follows the Ministry of Health’s (MOH) announcement on Sunday that a new cluster had formed at 115 Bukit Merah View Market and Food Centre.
https://www.straitstimes.com/singapore/covid-19-testing-starts-for-85-stallholders-at-block-116-bukit-merah-view

S’pore takes cautious approach in easing curbs
Singapore cautiously lifted some of its Covid-19 restrictions yesterday, allowing larger groups to gather, and indicated it would take the same graduated approach to reopening its schools. After close to a month of being on heightened alert, the country saw larger groups venture out and more activities resume.
https://www.straitstimes.com/singapore/parenting-education/spore-takes-cautious-approach-in-easing-curbs

Very small risk to heart from mRNA jabs, say 3 expert groups
Three independent bodies of medical experts here have reiterated that the risk of heart conditions associated with the Covid-19 mRNA vaccines is “very small”, and have recommended that people still receive the vaccines in the interest of public health.
https://www.straitstimes.com/singapore/very-small-risk-to-heart-from-mrna-jabs-say-3-expert-groups

Changes to SHN for travellers from Fiji and Israel
Border measures will be tightened for travellers from Fiji with immediate effect because of the worsening Covid-19 situation there, said the Ministry of Health (MOH) yesterday. All those who enter Singapore with a travel history to Fiji in the past 21 days will now be required to serve a 21-day stay-home notice (SHN) in dedicated facilities, added MOH in its statement.
https://www.straitstimes.com/singapore/changes-to-shn-for-travellers-from-fiji-and-israel

*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