DAILY NEWS

Daily News – 16 November 2021 (Tue)

Singapore Real Estate

New private home market to end the year on a high note: analysts
Analysts expect new private home sales to remain robust for the rest of the year on the back of major upcoming launches. Three launches are in the pipeline for November, namely CanningHill Piers, The Commodore and Cairnhill 16.
https://www.businesstimes.com.sg/real-estate/new-private-home-market-to-end-the-year-on-a-high-note-analysts
https://www.straitstimes.com/business/property/singapore-new-private-home-sales-rebound-with-9-rise-in-october

Singapore Economy

Singapore ‘still an attractive global investment hub, fun needed to add more value’
[Singapore] The Republic remains an attractive hub for global investments, but lacks an element of fun to draw a greater variety of market participants and raise the city’s brand as the place to be, said GIC deputy group chief investment officer and chief operating officer Lim Hock Tay at a panel discussion at the 2021 Milken Institute Asia Summit on Monday (Nov 15).
https://www.businesstimes.com.sg/government-economy/singapore-still-an-attractive-global-investment-hub-fun-needed-to-add-more-value
https://www.straitstimes.com/business/economy/singapore-still-an-attractive-global-investment-hub-fun-needed-to-add-more-value

Companies’ Brief

Ascendas Reit, CapitaLand Development in joint venture to redevelop 1 Science Park Drive
Ascendas Reit has formed a joint venture with CapitaLand Development (CLD), the development arm of CapitaLand Group, to invest S$883 million to redevelop 1 Science Park Drive into a life science and innovation campus.
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-capitaland-development-in-joint-venture-to-redevelop-1-science-park

Keppel says offer for SPH firm and irrevocable, provides shortest time to pay-out
Keppel Corporation on Tuesday (Nov 16) reiterated that its offer for Singapore Press Holdings (SPH) is “firm and irrevocable” and also provides the shortest time to pay-out by mid-January 2022 for SPH shareholders.
https://www.businesstimes.com.sg/companies-markets/keppel-says-offer-for-sph-firm-and-irrevocable-provides-shortest-time-to-pay-out
https://www.straitstimes.com/business/companies-markets/keppel-says-offer-for-sph-irrevocable-provides-shortest-time-to-pay-out

Cuscaden raises SPH bid to S$2.36 all cash, or S$2.40 in cash and SPH Reit units
The consortium comprising Hotel Properties (HPL), businessman Ong Beng Seng, and two Temasek-linked entities, CLA and Mapletree, has raised its offer for Singapore Press Holdings (SPH), days after rival offeror Keppel raised its bid too.
https://www.businesstimes.com.sg/companies-markets/cuscaden-raises-sph-bid-to-s236-all-cash-or-s240-in-cash-and-sph-reit-units
https://www.straitstimes.com/business/companies-markets/cuscaden-peaks-offer-of-up-to-240-a-share-now-superior-to-keppels-sph

Views, Reviews, Forum & Others

Reits may not be best vehicles to hold prime Singapore office assets
Many office workers are still working from home amid a high number of Covid-19 cases. Office landlords fret over when companies can get large numbers of staff back to offices safely and whether greater adoption of remote working reduces space needs.
https://www.businesstimes.com.sg/opinion/reits-may-not-be-best-vehicles-to-hold-prime-singapore-office-assets-0

Some wins at COP26 but finance vital to reverse climate change
One of the most iconic images of the just-ended COP26 in Glasgow would perhaps be of Tuvalu’s foreign minister, Simon Kofe, addressing the UN climate summit standing knee-deep in the ocean, to drive home how his low-lying Pacific island nation has been struggling against rising sea levels.
https://www.businesstimes.com.sg/opinion/some-wins-at-cop26-but-finance-vital-to-reverse-climate-change

World can’t wait till COP27 to tackle climate change
Despite 2 years of huge advance in diplomacy, and some 2 weeks of intensive negotiation, Glasgow’s COP26 summit is unlikely to be seen as a decisive moment, such as Paris in 2015, in the 21/2 decades journey of United Nations-led climate change negotiations.
https://www.businesstimes.com.sg/opinion/world-cant-wait-till-cop27-to-tackle-climate-change

For CEOs in Asia, purpose matters now, more than ever
Any CEO worth their salt can tell you that purpose lies at the core of their business. Running a successful business goes beyond generating the most quarterly profits; it’s also about intentionally leaving a positive environmental, social, and corporate governance (ESG) impact.
https://www.businesstimes.com.sg/opinion/for-ceos-in-asia-purpose-matters-now-more-than-ever

Apec’s key role in post-Covid recovery
The Asia-Pacific Economic Cooperation member economies have just held their virtual leaders’ summit, agreeing on a series of commitments including measures to tackle the coronavirus pandemic, promote economic recovery, and climate change mitigation.
https://www.straitstimes.com/opinion/st-editorial/apecs-key-role-in-post-covid-recovery

Remaining open an imperative for Asean’s growth post-Covid
Asean’s role in global sustainable growth is and will be “significant” in the coming years but the region needs to focus on its commitment to open trade and investment, sustainability and continual upgrade through digitalisation.
https://www.businesstimes.com.sg/global-enterprise/remaining-open-an-imperative-for-aseans-growth-post-covid

Update on COVID-19 (Coronavirus Disease 2019) Situation

S’pore reports 2,069 new Covid-19 cases and 8 deaths; weekly infection growth rate at 0.94
Singapore – There were 2,069 new Covid-19 infections in Singapore on Monday (Nov 15), said the Ministry of Health (MOH) in its daily report, up from 1,723 a day earlier. The Covid-19 weekly infection growth rate dipped to 0.94, down from 0.97 on Sunday.
https://www.straitstimes.com/singapore/spore-reports-2069-new-covid-19-cases-weekly-infection-growth-rate-at-094

Bigger headcounts, easier rules allowed for Mice events as pilot scheme starts this week
Singapore on Monday (Nov 15) began a scheme to allow large business gatherings with fully vaccinated attendees who have been tested for Covid-19, with the Milken Institute Asia Summit and Bloomberg New Economy Forum among the pilot events.
https://www.businesstimes.com.sg/government-economy/bigger-headcounts-easier-rules-allowed-for-mice-events-as-pilot-scheme-starts

Fully-vaccinated same-household groups of up to 5 can soon dine at hawker centres, coffeeshops with checks in place
Groups of up to 5 fully-vaccinated people from the same household will soon be able to dine in at hawker centres or coffeeshops that have access control and checking systems in place, the multi-ministry taskforce on Covid-19 announced on Monday (Nov 15).
https://www.businesstimes.com.sg/government-economy/fully-vaccinated-same-household-groups-of-up-to-5-can-soon-dine-at-hawker-centres

Cheaper ART kits ‘well below $10’, pilot events to allow more people: Covid-19 measures at a glance
Singapore – New measures were announced on Monday (Nov 15) by the multi-ministry task force on Covid-19 to help Singapore live with the Covid-19 pandemic. The announcements came after the task force said last week that fully vaccinated people from the same household would be able to dine out in groups of up to five, given that the Covid-19 situation had stabilised.
https://www.straitstimes.com/singapore/health/cheaper-art-tests-well-below-10-pilot-events-to-allow-more-people-covid-19-measures
https://www.straitstimes.com/singapore/health/new-art-kits-for-covid-19-to-cost-well-below-10-ong-ye-kung

New supply agreement inked with Pfizer for Covid-19 vaccines for kids
Singapore – Singapore has signed a new supply agreement with Pfizer for its paediatric Covid-19 vaccines for children aged five to 11, said Health Minister Ong Ye Kung on Monday (Nov 15). The agreement also includes the delivery of these vaccines…
https://www.straitstimes.com/singapore/new-supply-agreement-inked-with-pfizer-for-its-covid-19-vaccines-for-children

S’pore trying very hard to avoid start-stops in Covid-19 measures: Lawrence Wong
Singapore – As much as Singapore has tried to avoid a “start-stop” approach in tackling Covid-19, the country still had to make constant adjustments to prevailing measures, said Finance Minister Lawrence Wong on Monday (Nov 15).
https://www.straitstimes.com/singapore/health/spore-trying-very-hard-to-avoid-start-stops-in-covid-19-measures-lawrence-wong

VTLs with 5 more countries including Indonesia, India; Malaysia land links reopening soon
Singapore will expand the quarantine-free vaccinated travel lanes (VTLs) to Indonesia, India and three Middle East countries, while a “vaccinated travel lane-like arrangement” for the land border with Malaysia could reopen in a matter of weeks.
https://www.businesstimes.com.sg/transport/vtls-with-5-more-countries-including-indonesia-india-malaysia-land-links-reopening-soon
https://www.straitstimes.com/singapore/transport/spore-to-start-vtls-with-indonesia-and-india-from-nov-29-and-with-qatar-uae

S’pore-Malaysia land border could reopen ‘in a few weeks’ under VTL-like arrangement
Singapore – The land border between Singapore and Malaysia could reopen in a few weeks’ time under a “Vaccinated Travel Lane-like arrangement”, in what could be a major step in easing the 20-month segregation of the two neighbouring countries that has caused a lot of strain on families.
https://www.straitstimes.com/singapore/hopes-for-vtl-like-arrangement-for-causeway-travel-to-malaysia-in-a-few-weeks

*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