DAILY NEWS

Daily News – 15 July 2021 (Thu)

Singapore Real Estate

Property investment market continuing improvement in Q2: Knight Frank
The property investment market has continued to improve in the second quarter of this year amid a more certain economic recovery both locally and overseas, with developers as well as retail and institutional investors leading the deals.
https://www.businesstimes.com.sg/real-estate/property-investment-market-continuing-improvement-in-q2-knight-frank

Future of the office: where a fist bump beats the punch clock
JLL’s Worker Preferences Barometer 2021 provides a strong indication that offices will be more important now than before as the centre of the work ecosystem, and that an outstanding office environment will remain a critical strategy to engage employees who now prioritise a work-life balance over salary.
https://www.businesstimes.com.sg/real-estate/future-of-the-office-where-a-fist-bump-beats-the-punch-clock

Singapore’s new private home sales dip in June, but demand stays buoyant: analysts
The absence of new launches in June on the back of heightened restrictions has moderated the month’s new private home sales, but analysts remain optimistic about market demand. Based on caveats lodged, analysts estimated that developers in Singapore sold 871 new private homes in June…
https://www.businesstimes.com.sg/real-estate/singapores-new-private-home-sales-dip-in-june-but-demand-stays-buoyant-analysts

On the Singapore market: Shophouses, Holland Village house, Geylang en bloc
Several properties, mostly residential, have been put on the market this month. They are located in Raffles Place, Holland Village, Upper Serangoon, Geylang and Little India. From residential properties to adjoined commercial properties with cultural history, here are some Singapore properties up for sale:
https://www.businesstimes.com.sg/real-estate/on-the-singapore-market-shophouses-holland-village-house-geylang-en-bloc

HDB rents rise 1%, condo rents flat in June
Rents for private apartments were unchanged last month while those for Housing Board flats edged up by 1 per cent from the previous month, according to flash data from real estate portal SRX released yesterday. Rental volumes for both condominium units and HDB flats rose for a third consecutive month in June…
https://www.straitstimes.com/business/property/hdb-rents-rise-1-condo-rents-flat-in-june

Singapore Economy

Q2’s GDP rebound hints at upgrade to official growth outlook in August
An upgrade to Singapore’s official growth outlook could come as early as next month, with the Republic having posted a stellar rebound in the second quarter, economists said. Gross domestic product (GDP) jumped 14.3 per cent year on year in Q2, benefiting from the low base last year…
https://www.businesstimes.com.sg/government-economy/q2s-gdp-rebound-hints-at-upgrade-to-official-growth-outlook-in-august
https://www.straitstimes.com/business/economy/spore-economy-remains-on-track-for-recovery-experts

To be innovative hub, we need strong Singaporean core: MAS chief
For Singapore to be truly innovative, it should turn education and healthcare into major exportable services, digitalise its economy end-to-end, and take the lead in Asia on the green economy. It also needs a strong Singaporean core to work alongside the best global talents, said Singapore’s central bank chief on Wednesday.
https://www.businesstimes.com.sg/government-economy/to-be-innovative-hub-we-need-strong-singaporean-core-mas-chief
https://www.straitstimes.com/singapore/politics/tighten-salary-criteria-target-discriminatory-hiring-to-ensure-strong-sporean
https://www.straitstimes.com/singapore/politics/spore-can-be-competitive-even-if-carbon-taxes-rise

Manpower Minister urges companies to grow their headcount with locals
Manpower Minister Tan See Leng has urged employers to get on with hiring, as business confidence recovers and firms are adding to their local headcount. His call came on the news that the Jobs Growth Incentive (JGI) scheme supported the hiring of some 140,000 workers between last December and February this year.
https://www.businesstimes.com.sg/government-economy/manpower-minister-urges-companies-to-grow-their-headcount-with-locals

Raise minimum S Pass pay to S$4,500 over time, target unfair hiring to ensure strong Singaporean core: MAS chief
[Singapore] For Singapore to be truly innovative, it should turn education and healthcare into major exportable services, digitalise its economy end-to-end, and take the lead in Asia on the green economy. It also needs a strong Singaporean core to work alongside the best global talents…
https://www.businesstimes.com.sg/government-economy/raise-minimum-s-pass-pay-to-s4500-over-time-target-unfair-hiring-to-ensure-strong

Companies’ Brief

IReit Global’s preferential offering closes 151.2% subscribed
IReit Global’s preferential offering closed on Monday with valid acceptances and excess applications amounting to 151.2 per cent of the offering, the Reit’s manager said in a regulatory filing late on Wednesday night.
https://www.businesstimes.com.sg/real-estate/ireit-globals-preferential-offering-closes-1512-subscribed

Parkway Life Reit, IHH Healthcare extend lease agreements for 20 years, with S$150m capex injection
Parkway Life Real Estate Investment Trust (Reit) and IHH Healthcare Berhad are extending their collaboration for another 20 years, with Parkway Life Reit also injecting up to S$150 million in renewal capital expenditure, and receiving the right of first refusal (ROFR) for Mount Elizabeth Novena Hospital.
https://www.businesstimes.com.sg/real-estate/parkway-life-reit-ihh-healthcare-extend-lease-agreements-for-20-years-with-s150m-capex

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1416

Views, Reviews, Forum & Others

Singapore takes big step for environmental sustainability
Having grown its solar capacity by more than seven times since 2015, Singapore is now one of the most solar-dense cities in the world. The Republic took one big step towards environmental sustainability when its first large-scale floating solar photovoltaic (PV) system at Tengeh Reservoir…
https://www.straitstimes.com/singapore/singapore-takes-big-step-for-environmental-sustainability

Asia’s air travel may take three years to recover from Covid-19
Singapore (Bloomberg) – Asian air travel may take another three years to recover fully from the devastation wrought by the Covid-19 pandemic, lagging behind rebounds in other regions and offering a stern headwind for refiners making jet fuel.
https://www.straitstimes.com/business/economy/asias-air-travel-may-take-three-years-to-recover-from-covid-19

Update on COVID-19 (Coronavirus Disease 2019) Situation

Dream Cruises ship returns early after a passenger tests positive
A Dream Cruises ship that was forced to return to shore early after a passenger tested positive for Covid-19 saw the majority of cleared passengers disembark by 11.59pm yesterday, some 15 hours after the cruise was initially slated to end.
https://www.straitstimes.com/singapore/dream-cruises-ship-returns-early-after-a-passenger-tests-positive

42 of 56 new cases linked to KTV cluster; no change to Covid-19 measures ‘for now’
Of the 56 new local Covid-19 cases in Singapore on Wednesday, 42 are linked to the growing KTV cluster, with more expected to surface. Asked whether the cluster would affect the relaxation of Covid-19 measures that kicked in on Monday…
https://www.businesstimes.com.sg/government-economy/42-of-56-new-cases-linked-to-ktv-cluster-no-change-to-covid-19-measures-for-now
https://www.straitstimes.com/singapore/health/ktv-cluster-grows-to-54-largest-spike-in-local-cases-since-last-year

Short-term visit pass holder from Vietnam first known case in KTV cluster
The first known case linked to the growing KTV cluster of Covid-19 infections is a short-term visit pass holder from Vietnam. She went to a general practitioner (GP) clinic on July 11 with symptoms of an acute respiratory infection, Singapore’s director of medical services Kenneth Mak said yesterday.
https://www.straitstimes.com/singapore/health/short-term-visit-pass-holder-from-vietnam-first-known-case-in-ktv-cluster

Testing process for KTV lounge patrons confidential
The testing process for those who have visited KTV lounges or interacted with hostesses since June 29 will be confidential, Health Minister Ong Ye Kung said yesterday. Speaking to the media, Mr Ong reminded patrons to book appointments at screening centres, to protect both themselves and their loved ones, saying that their privacy is protected.
https://www.straitstimes.com/singapore/health/testing-process-for-ktv-lounge-patrons-confidential

Ring-fencing KTV cluster will not be easy, experts say
The nature of activities at KTV lounges that are supposed to operate as food and beverage outlets makes it more difficult for the authorities to test and trace those who are linked to a cluster involving several outlets, while making it easier for Covid-19 to spread, experts say.
https://www.straitstimes.com/singapore/ring-fencing-ktv-cluster-will-not-be-easy-experts-say

Ongoing transmission likely at four more KTV outlets: MOH
There is likely ongoing transmission of the coronavirus at four more KTV lounges and clubs currently operating as food and beverage outlets, the Ministry of Health (MOH) said yesterday. They are One Exclusive, Level 9 (L9), Terminal 10 and Club M. All except one are located at 114 Middle Road.
https://www.straitstimes.com/singapore/health/ongoing-transmission-likely-at-four-more-ktv-outlets-moh

S’pore to bar entry for travellers from Myanmar
Travellers from Myanmar will not be allowed to enter Singapore from today, given a rise in Covid-19 cases there, said the Ministry of Health (MOH) yesterday. From 11.59pm today, all long-term pass holders and short-term visitors with a travel history to Myanmar – including transit…
https://www.straitstimes.com/singapore/health/spore-to-bar-entry-for-travellers-from-myanmar

*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