DAILY NEWS

Daily News – 15 September 2021 (Wed)

Singapore Real Estate

Buyers unfazed by Hungry Ghost month as condo resale volumes, prices rise
Singapore resale condominium prices and volumes continued to rise in August despite it being the Hungry Ghost month, when sales typically slow down. Flash figures from SRX Property on Tuesday noted a 0.5 per cent rise in overall resale prices month on month, and an increase of 7.9 per cent year on year.
https://www.businesstimes.com.sg/real-estate/buyers-unfazed-by-hungry-ghost-month-as-condo-resale-volumes-prices-rise
https://www.straitstimes.com/business/property/singapore-condo-resale-prices-up-05-in-august-as-volume-rises-49-srx

Two-week rental waiver framework passed in Parliament
The Covid-19 (Temporary Measures) (Amendment No 4) Bill, which includes a rental waiver framework requiring private commercial landlords to provide two weeks of rental waiver, has been passed in a Parliament sitting on Tuesday.
https://www.businesstimes.com.sg/government-economy/two-week-rental-waiver-framework-passed-in-parliament

Singapore Economy

Singapore business sentiment improves further in Q4: SCCB
Business confidence among local businesses improved further in the fourth quarter of 2021, on the back of relatively resilient demand in the manufacturing and financial services sectors.
https://www.businesstimes.com.sg/sme/singapore-business-sentiment-improves-further-in-q4-sccb
https://www.straitstimes.com/business/economy/singapore-business-sentiment-improves-slightly-for-q4-but-construction-and

Companies’ Brief

Hongkong Land signs crypto firm as tenant for the first time
[Hong Kong] Hongkong Land Holdings, the biggest landlord in the heart of the Asian financial hub, signed a lease with a crypto asset firm for the first time as the century-old company moves to embrace the emerging sector.
https://www.businesstimes.com.sg/real-estate/hongkong-land-signs-crypto-firm-as-tenant-for-the-first-time

Cromwell E-Reit names Ooi Eng Peng as non-executive director
The manager of Cromwell European Real Estate Investment Trust (Cromwell E-Reit) on Wednesday announced its appointment of Ooi Eng Peng to its board as a non-independent, non-executive director with immediate effect.
https://www.businesstimes.com.sg/real-estate/cromwell-e-reit-names-ooi-eng-peng-as-non-executive-director

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1448

Views, Reviews, Forum & Others

Singapore, UK can work together to foster a greener, digital future
The City of London, like Singapore and the rest of the world, has seen its fair share of challenges since early last year, when the Square Mile’s half a million-strong workforce vacated their offices en masse for the comfort and safety of their homes.
https://www.straitstimes.com/opinion/singapore-uk-can-work-together-to-foster-a-greener-digital-future

How scepticism tempered with bravery helps in investment decisions
The number of scams reported in Singapore in the first half of 2021 rose 16 per cent to 8,403 from the same period last year. Investment scam victims lost S$66.2 million – more than triple the S$21.6 million in the same period last year.
https://www.businesstimes.com.sg/wealth-investing/how-scepticism-tempered-with-bravery-helps-in-investment-decisions

Sustainable investing: An unstoppable trend
Interest in sustainable investing has surged in recent years – with good reason. Today, asset owners and investors are likely to heed the environmental and social impacts of their capital, and institutions which advise and invest on clients’ behalf are just as vigilant, if not more so.
https://www.businesstimes.com.sg/hub/wealth-pulse/sustainable-investing-an-unstoppable-trend

Mandatory climate disclosures, diversity targets: get on board or risk getting left behind
Singapore Exchange Regulation (SGX RegCo) announced last month proposed enhancements to its sustainability reporting regime, including a roadmap towards mandatory climate reporting, assurance for sustainability reports and common environmental social and governance (ESG) metrics.
https://www.businesstimes.com.sg/companies-markets/mandatory-climate-disclosures-diversity-targets-get-on-board-or-risk-getting-left

Cutting foreign worker numbers won’t save jobs for Singaporeans
Reducing foreign worker numbers will not prevent Singaporeans from being displaced from jobs, said Finance Minister Lawrence Wong in Parliament on Tuesday, in a debate on two motions filed by the government and the Progress Singapore Party (PSP).
https://www.businesstimes.com.sg/government-economy/cutting-foreign-worker-numbers-wont-save-jobs-for-singaporeans
https://www.straitstimes.com/singapore/politics/spore-will-continue-to-address-downsides-of-open-economy-help-displaced-workers

S’pore could lose investors, firms and jobs they bring for locals if it turns inwards: Tan See Leng
Singapore – There are severe consequences if Singapore, a small country devoid of natural resources, turns inwards and loses its lustre as a regional hub, causing companies to leave with the jobs they provide, said Manpower Minister Tan See Leng on Tuesday (Sept 14).
https://www.straitstimes.com/singapore/politics/spore-could-lose-investors-firms-and-jobs-for-locals-they-bring-if-it-turns

Job vacancies hit record high of 92,100 in June: MOM
Amid ongoing border restrictions and sustained manpower demand in growth sectors, seasonally-adjusted job vacancies rose to an all-time high of 92,100 in June, according to the Manpower Ministry’s (MOM) latest Labour Market Report.
https://www.businesstimes.com.sg/government-economy/job-vacancies-hit-record-high-of-92100-in-june-mom

Update on COVID-19 (Coronavirus Disease 2019) Situation

837 new Covid-19 cases in S’pore; new cluster at All Saints Home in Jurong East
[Singapore] There were 755 new cases reported in the community on Tuesday, the Ministry of Health (MOH) said in its daily update. This is the highest in more than a year. There were also 77 cases among dormitory residents and five imported ones, bringing the total to 837 new Covid-19 cases.
https://www.businesstimes.com.sg/government-economy/837-new-covid-19-cases-in-spore-new-cluster-at-all-saints-home-in-jurong-east
https://www.straitstimes.com/singapore/837-new-covid-19-cases-in-spore-including-755-community-cases

Long queues at some Covid-19 quick test centres after enhanced self-testing regimen kicks in
Singapore – A fast and easy process to get tested for Covid-19 became an almost two hour wait for some as long lines formed at some quick test centres (QTCs) here over the past two days. This was after an enhanced fast and easy rostered routine testing (RRT) regimen took effect on Monday (Sept 13).
https://www.straitstimes.com/singapore/long-queues-at-some-quick-test-centres-after-enhanced-self-testing-regimen-kicks-in

Home recovery to be default from Sept 15 for bulk of vaccinated people who get Covid-19
Singapore – Most people who are vaccinated and contract Covid-19 will be put on home recovery from Wednesday (Sept 15), the Ministry of Health (MOH) said on Tuesday. This care management model will apply to those who are fully vaccinated, aged 12 to 50 years old, have mild or no symptoms, and have no severe co-morbidities or illnesses, it added.
https://www.straitstimes.com/singapore/home-recovery-to-be-default-from-sept-15-for-bulk-of-vaccinated-people-who-get-covid-19

*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