DAILY NEWS

Daily News – 15, 16 & 17 January 2022 (Sat, Sun & Mon)

Singapore Real Estate

Private residential market to start slow in 2022, fewer upcoming launches: analysts
The private residential market is likely to start the year on a quiet note as developers wait until after Chinese New Year (Feb 1 and 2) to market their properties, analysts say. This seasonal lull also gives developers a chance to “wait and see” before making any major decisions in response to the recent round of property cooling measures.
https://www.businesstimes.com.sg/real-estate/wealth-investing/private-residential-market-to-start-slow-in-2022-fewer-upcoming

Will cooling measures lead to a property chill in Singapore?
The impact of Singapore’s latest property cooling measures is expected to take root in the market from this month onwards. Will buyers step back or still bite? How would developers respond? ST examines how the situation could unfold and the factors that are at play.
https://www.straitstimes.com/singapore/will-cooling-measures-lead-to-a-property-chill-in-singapore

Home buyers adopt wait-and-see approach after roll-out of property cooling measures
Singapore – Home hunters are now on the prowl for cheaper buys after property cooling measures were rolled out by the authorities last month. Take the case of car dealer Jerome Pang, who has sold his three-room Housing Board (HDB) flat in Clementi.
https://www.straitstimes.com/singapore/housing/home-buyers-adopt-wait-and-see-approach-after-roll-out-of-property-cooling-measures

Market stand-off: Buyers, sellers keep watch on impact of property curbs
Singapore – The latest cooling measures may have unnerved many buyers, but PropNex agents Leng Kar Yee and Joy Shi have been clocking condominium sales at projects like Normanton Park and Verdale.
https://www.straitstimes.com/singapore/housing/market-stand-off-buyers-sellers-keep-watch-on-impact-of-curbs

HDB resale market likely to remain robust this year
Singapore – The new year has begun much as the old one ended with Housing Board flats changing hands at sky-high prices. In 2021, a record 259 HDB resale units sold for over $1 million, more than three times the 82 units in 2020, but the blistering pace of big-buck sales has hardly slackened so far this year.
https://www.straitstimes.com/singapore/housing/hdb-resale-market-likely-to-remain-robust-this-year

Why environmentally friendly buildings can be investment worthy
Investors have now realised that sustainable investing is not just about doing what is good for the planet and humanity – it can be good for investment performance too. This is particularly true for real estate investment.
https://www.businesstimes.com.sg/real-estate/why-environmentally-friendly-buildings-can-be-investment-worthy

S-Reits: Bigger and bolder over the years
FOR S-Reits, listing on the exchange is the beginning of a journey. Twenty-four S-Reits had announced asset acquisitions valued at over S$15.3 billion and exceeding S$12.7 billion in total purchase consideration in 2021.
https://www.businesstimes.com.sg/real-estate/s-reits-bigger-and-bolder-over-the-years

Singapore Reits double their overseas investment to US$12.3b
[Singapore] Singapore’s property managers are accelerating their push abroad as a slow reopening and diminishing returns at home force them to look for growth opportunities elsewhere. Foreign acquisitions by real estate investment trusts in the city-state jumped to an all-time high of 61 last year, data compiled by Bloomberg show.
https://www.businesstimes.com.sg/companies-markets/singapore-reits-double-their-overseas-investment-to-us123b
https://www.straitstimes.com/business/companies-markets/singapore-reits-double-their-overseas-investment-to-166-billion

Reits could offer investors shelter amid inflation storm
The scourge of inflation is rattling equity markets with most pundits expecting rising prices to peak in the second quarter. Amid the headwinds, real estate investment trusts (Reits) could provide a safe harbour for investors, say analysts.
https://www.businesstimes.com.sg/companies-markets/wealth-investing/reits-could-offer-investors-shelter-amid-inflation-storm

Singapore Economy

Singaporeans’ year-ahead inflation expectations down slightly to 3.2%: poll
Singaporean’s inflation expectations remained largely unchanged for the year ahead due to policy intervention, according to the latest quarterly survey results of the Singapore Index of Inflation Expectations (SInDEx). Published jointly by DBS and the Singapore Management University (SMU), the survey polls 500 randomly selected individuals that represent a cross section of Singaporean households.
https://www.businesstimes.com.sg/government-economy/singaporeans-year-ahead-inflation-expectations-down-slightly-to-32-poll

Singapore’s non-oil domestic exports up 18.4% in December, easing from November
SINGAPORE’S key exports continued growing for the 13th straight month in December, although momentum has eased slightly from the previous month. Non-oil domestic exports (NODX) rose 18.4 per cent year on year with the help of both electronic and non-electronics, but this was slower than November’s 24.2 per cent growth, according to data released by Enterprise Singapore (ESG) on Monday (Jan 17).
https://www.businesstimes.com.sg/government-economy/singapores-non-oil-domestic-exports-up-184-in-december-easing-from-november
https://www.straitstimes.com/business/economy/singapore-non-oil-exports-rise-184-in-december-capping-strong-year-in-trade

Manpower shortage a key concern raised by business leaders at pre-Budget roundtable
MANPOWER shortage was a key concern raised by panellists at a pre-Budget roundtable on Friday (Jan 14) and a survey by the Institute of Singapore Chartered Accountants (Isca). Polling close to 500 Isca members in September last year, the Isca survey revealed that close to 1 in 3 employers had ranked labour and talent shortage due to staff attrition, and foreign worker restrictions as their top 2 business concerns respectively.
https://www.businesstimes.com.sg/government-economy/manpower-shortage-a-key-concern-raised-by-business-leaders-at-pre-budget

Give economy more time to manage costs before GST hike, economists say
Singapore – Singapore’s plan to increase its goods and services tax (GST) could kick in as soon as July 1, if the approach taken with the previous GST rate hike in 2007 is a guide. However, in view of global inflation pressures and the uneven economic recovery, some observers say raising rates at a later date will give the economy more time to adjust to the cost pressures.
https://www.straitstimes.com/business/economy/will-singapores-gst-hike-kick-in-as-soon-as-july

SRA calls for one-off shopping vouchers to boost retail scene in Budget 2022 wishlist
The Singapore Retailers Association (SRA) is calling for job support and hiring schemes to be extended and for rental relief to be legislated, even as the government plans to scale back Covid-19 support. Among a slew of suggestions in its Budget 2022 wishlist…
https://www.businesstimes.com.sg/government-economy/sra-calls-for-one-off-shopping-vouchers-to-boost-retail-scene-in-budget-2022

SMF calls for government support in sustainability practices
The Singapore Manufacturing Federation (SMF) would like Budget 2022 to provide more funding for firms to adopt sustainable practices, among other suggestions in a wish list submitted to the Ministry of Finance.
https://www.businesstimes.com.sg/government-economy/smf-calls-for-government-support-in-sustainability-practices

Omicron outbreak to delay goods for Chinese New Year and drive inflation
Singapore – A fresh outbreak of Covid-19 cases globally is threatening to further weaken an already shaky supply chain, dimming hopes the delays that slowed production of everything from cars to gaming consoles in 2021 might abate this year.
https://www.straitstimes.com/business/economy/omicron-outbreak-to-delay-goods-for-chinese-new-year-and-drive-inflation

Companies’ Brief

FLCT banks on scale, industrial sector strength
Undertaking major corporate action in the thick of “the crisis of a generation” could easily be disastrous. But, for Frasers Logistics & Commercial Trust (FLCT), it has been a blessing in disguise. The S$1.6 billion merger between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust to create FLCT was mooted in early December 2019 and completed in mid-April 2020…
https://www.businesstimes.com.sg/companies-markets/wealth-investing/flct-banks-on-scale-industrial-sector-strength

SCCCI elects Lian Huat executive chairman as president, 3 others as vice-presidents
The Singapore Chinese Chamber of Commerce and Industry (SCCCI) on Monday (Jan 10) elected Lian Huat Group’s executive chairman Kho Choon Keng as president of the chamber’s 61st council, according to Zaobao.
https://www.businesstimes.com.sg/government-economy/sccci-elects-lian-huat-executive-chairman-as-president-3-others-as-vice

Mass exodus of property agents sees OrangeTee & Tie dropped from top three biggest agencies
Singapore – The poaching battle among real estate firms to expand their sales forces amid the sizzling hot property market last year has sent one high-profile agency tumbling out of the top three ranking.
https://www.straitstimes.com/business/property/mass-exodus-of-property-agents-saw-orangetee-tie-dropped-from-top-three-biggest-agencies

Views, Reviews, Forum & Others

GST hike: Short-term cost vs long-term benefit
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore
Given our ageing society and the ever-growing demand for subsidised healthcare, education and social support for the underserved, it is necessary for the government to widen the tax base and collection to balance the national budget and replenish the drawn-down reserves to a healthy level.
https://www.businesstimes.com.sg/views-from-the-top/short-term-cost-vs-long-term-benefit

Omicron optimist, pessimist or fatalist: Which are you?
(The Financial Times) – Is this the point at which we should shrug our shoulders and give up? Omicron has prompted three kinds of reaction: optimism, pessimism and fatalism. The optimists argue that the variant is “nature’s vaccine”, a mild and transmissible virus that will quickly infect billions, triggering an immune response that will provide protection against deadlier variants such as Delta. The pandemic is over, and we won.
https://www.straitstimes.com/opinion/omicron-optimist-pessimist-or-fatalist-which-are-you

Make banks pay for phishing scam losses
If you receive an SMS from your bank telling you there is a problem with your account and that to fix it, you need to go to its website through the link provided, what would you do? Okay, you have a suspicious mind and you do not ordinarily fall for the usual online scams like helping a Nigerian get his money out of the country.
https://www.straitstimes.com/opinion/make-banks-pay-for-phishing-scam-losses

Is it time to phase out SMS OTPs to stem scam scourge?
Singapore – The recent OCBC Bank SMS scams in which nearly 470 customers lost at least $8.5 million in December last year have raised questions about how the scam scourge can be dealt with to protect consumers.
https://www.straitstimes.com/tech/tech-news/is-it-time-to-phase-out-sms-otps-to-stem-scam-scourge

If you have plans to sell your home, don’t splurge on renovation
Singapore – You never know what you might find when you step into a Housing Board flat, but it’s unlikely that a small indoor pond filled with ornamental fish built next to a bridge-like platform would be high on your list of expectations.
https://www.straitstimes.com/business/invest/if-you-have-plans-to-sell-your-home-dont-splurge-on-renovation

Update on COVID-19 (Coronavirus Disease 2019) Situation

Life in S’pore will never go back to the way it was before Covid-19, say experts
Singapore – Life will never return to exactly the way it was before the pandemic, experts told The Straits Times. This view was shared by 28 per cent of respondents in an online survey of 1,000 people, commissioned by The Straits Times and conducted by market research firm Milieu Insight from Jan 6 to 10.
https://www.straitstimes.com/singapore/health/life-will-never-go-back-to-the-way-it-was-before-covid-19-say-experts

Singaporeans polled expect current virus curbs to last till end of year
Singapore – More than half of Singaporeans polled in an online survey believe that the current level of Covid-19 restrictions will persist through this year, as the country navigates its way towards an endemic state.
https://www.straitstimes.com/singapore/health/singaporeans-polled-expect-current-virus-curbs-to-last-till-end-of-year

863 new Covid-19 cases in Singapore, infection growth rate rises to 1.49
[Singapore] There were 863 new Covid-19 cases as at noon on Sunday (Jan 16), the Ministry of Health (MOH) reported in its daily update. This included 500 local cases and 363 imported ones. A total of 675 cases of the Omicron variant were reported. Of these, 422 were local cases and 253 were imported.
https://www.businesstimes.com.sg/government-economy/863-new-covid-19-cases-in-singapore-infection-growth-rate-rises-to-149
https://www.straitstimes.com/singapore/health/832-new-covid-19-omicron-cases-infection-growth-rate-falls-to-138

S’pore man infected with the Delta variant in May; last month, he came down with Omicron
Singapore – Over the course of eight months, John (not his real name) contracted Covid-19 twice. The 37-year-old permanent resident, who was infected with the Delta Plus variant while he was overseas in May last year, fell victim again – this time to the Omicron variant – while travelling to Singapore last month under the Vaccinated Travel Lane scheme.
https://www.straitstimes.com/singapore/a-sporean-pr-was-infected-with-the-delta-variant-in-may-last-month-he-came-down-with-omicron

Why has WHO warned countries not to treat Covid-19 as endemic?
Singapore – Many countries around the world, including Singapore, are taking steps towards living with Covid-19. But as recently as Jan 11, the World Health Organisation (WHO) warned against treating the virus as endemic, especially since the Omicron situation has not yet stabilised.
https://www.straitstimes.com/singapore/health/why-has-the-world-health-organisation-warned-countries-not-to-treat-covid-19-as-endemic

Over half of S’pore’s population have been boosted, about 42,000 get Covid-19 shots daily
Singapore – Over half, or 51 per cent, of the total population in Singapore have taken their booster shots, Health Minister Ong Ye Kung said in a Facebook post marking the milestone on Sunday (Jan 16).
https://www.straitstimes.com/singapore/health/over-half-of-spores-population-has-been-boosted-with-about-42000-getting-covid-19-shots-daily

3 in 10 S’poreans still plan to holiday abroad this year despite rise in Covid-19 cases: Survey
Singapore – Nearly three in 10 here are planning to travel overseas this year even if the current global Covid-19 situation remains the same, despite the international resurgence of Covid-19 cases and changing travel restrictions as the Omicron variant sweeps the globe.
https://www.straitstimes.com/singapore/health/3-in-10-sporeans-still-plan-to-holiday-abroad-this-year-despite-rise-in-covid-19-cases-survey

Four big questions as Singapore prepares for the next pandemic: Ong Ye Kung
Singapore – As Singapore prepares for the next pandemic, it will have to keep four big questions in mind, said Health Minister Ong Ye Kung on Friday (Jan 14). First, there is the speed at which a disease spreads.
https://www.straitstimes.com/singapore/health/four-big-questions-as-singapore-prepares-for-the-next-pandemic-ong-ye-kung

*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