DAILY NEWS

Daily News – 16 September 2021 (Thu)

Singapore Real Estate

New private home sales down nearly 24% in August on the back of tighter restrictions, fewer launches
The private housing market is expected to maintain its positive momentum for the rest of the year, after developers chalked up fairly healthy sales in August despite limited new launches and heightened restrictions to combat the pandemic.
https://www.businesstimes.com.sg/real-estate/new-private-home-sales-down-nearly-24-in-august-on-the-back-of-tighter-restrictions
https://www.straitstimes.com/business/property/new-private-home-sales-fell-nearly-24-in-august-on-fewer-launches-amid-hungry

Watten Estate Condominium up for sale at minimum price of S$500m
Watten Estate Condominium (WEC) at Shelford Road has been put up for collective sale via tender with a minimum price of S$500 million, said marketing agent JLL. Spanning 220,241 square feet, the freehold elevated site is zoned residential with a gross plot ratio of 1.4 and an allowable height of up to five storeys.
https://www.businesstimes.com.sg/real-estate/watten-estate-condominium-up-for-sale-at-minimum-price-of-s500m

Heartland shophouses in Little India, Bedok and Toa Payoh for sale
Three heartland estate properties comprising a freehold conservation shophouse and two Housing Development Board (HDB) shophouses have been put up for sale by their appointed marketing agents via expressions of interest (EOIs).
https://www.businesstimes.com.sg/real-estate/heartland-shophouses-in-little-india-bedok-and-toa-payoh-for-sale

Rental demand for HDB, condos rebound in August with easing of Covid-19 curbs: SRX data
Singapore – Rental demand for both Housing Board and condominium units rebounded last month after tenants returned to the market as Covid-19 viewing restrictions eased. Flash data from real estate portal SRX on Wednesday (Sept 15) showed that the rental volume for private apartments rose 6.6 per cent month on month in August to 4,907 units.
https://www.straitstimes.com/business/property/rental-demand-for-hdb-condos-rebound-in-august-with-easing-of-covid-19-curbs-srx

HDB throws lifeline to contractors to minimise delays to BTO buyers
Singapore – Construction companies working on Housing Board projects have been thrown a lifeline to help lock in prices and supplies for some raw materials, in a move by the Government to ensure that construction progress remains on track and to minimise delays for home buyers.
https://www.straitstimes.com/singapore/housing/hdb-throws-lifeline-to-contractors-to-minimise-delays-to-bto-buyers

Companies’ Brief

UOL completes integrated development in London with hotel, heritage building
UOL has completed One Bishopsgate Plaza, an integrated development in London that involves the construction of a 43-storey tower and the conservation of the 144-year-old heritage building Devonshire Row.
https://www.businesstimes.com.sg/real-estate/uol-completes-integrated-development-in-london-with-hotel-heritage-building

MBS seeks deadline extension to deliver details on expansion plan
Marina Bay Sands (MBS) has extended the deadline for it to deliver to its lenders certain details of the expansion of its integrated resort to March 31, 2022. Information on the quantity surveyor’s costs estimate and construction schedule for the expansion of its integrated resort was meant to be delivered on June 30 this year, a filing to the United States Securities and Exchange Commission last week showed.
https://www.businesstimes.com.sg/real-estate/mbs-seeks-deadline-extension-to-deliver-details-on-expansion-plan

OCBC hires DBS veteran as head of global wholesale banking
OCBC has hired DBS veteran Tan Teck Long as its head of global wholesale banking as part of its regular review of its senior management bench-strength to ensure that its top executives remain relevant to the bank’s strategic objectives.
https://www.businesstimes.com.sg/companies-markets/ocbc-hires-dbs-veteran-as-head-of-global-wholesale-banking

Keppel Reit prices S$150 million 2.07% notes due 2028
Keppel Reit has priced S$150 million notes with a fixed coupon rate of 2.07 per cent per annum due 2028, the Reit manager announced in a bourse filing on Wednesday. The notes will be issued under the Reit’s S$1 billion multicurrency debt issuance programme.
https://www.businesstimes.com.sg/real-estate/keppel-reit-prices-s150-million-207-notes-due-2028

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1449

Views, Reviews, Forum & Others

Governance is the foundation of ESG
On Aug 26, SGX Regco released two consultation papers, one on enhanced rules on climate and diversity, and the other on a common set of core environmental, social and governance (ESG) metrics to be disclosed by companies as a starting point.
https://www.businesstimes.com.sg/opinion/governance-is-the-foundation-of-esg

Time to end chasm between vaccine-rich and vaccine-poor
As temperatures cool in the West with another difficult autumn and winter pandemic season potentially ahead, the debate is hotting up over global vaccines distribution with many developing countries still having very low inoculation rates.
https://www.businesstimes.com.sg/opinion/time-to-end-chasm-between-vaccine-rich-and-vaccine-poor

Update on COVID-19 (Coronavirus Disease 2019) Situation

Next few weeks critical as Singapore faces unprecedented Covid-19 situation: Ong Ye Kung
It will be an unprecedented accomplishment for Singapore to ride out the current wave of infections without paying a price in human lives, said Health Minister Ong Ye Kung on Wednesday. This is why the country is watching so closely to see if more Covid-19 cases will lead to more severe illness and deaths.
https://www.businesstimes.com.sg/government-economy/next-few-weeks-critical-as-singapore-faces-unprecedented-covid-19-situation-ong
https://www.straitstimes.com/singapore/health/next-few-weeks-critical-as-singapore-faces-unprecedented-covid-19-situation-ong-ye

807 new Covid-19 cases; new clusters at two
[Singapore] Two more nursing homes joined the list of new clusters, the Health Ministry (MOH) said on Wednesday (Sept 15). The clusters at Orange Valley Nursing Home in Simei and Jamiyah Nursing Home both have 13 cases each.
https://www.businesstimes.com.sg/government-economy/807-new-covid-19-cases-new-clusters-at-two-nursing-homes
https://www.straitstimes.com/singapore/new-clusters-at-two-nursing-homes-807-new-covid-19-cases-in-spore

Reeling from the impact of Covid-19
While countries in South-east Asia escaped relatively unscathed when the Covid-19 first hit in 2020, many of them took a severe beating this year with the emergence of the delta variant. Despite strong external demand, economic recovery in the region remains uneven, hampered by slow vaccination rollouts as well as repeated lockdowns that have led to supply chain disruptions. The Business Times brings a snapshot of Covid-19’s impact on key Asean economies thus far.
https://www.businesstimes.com.sg/infographics/reeling-from-the-impact-of-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