DAILY NEWS

Daily News – 17th Mar 2020 (Tue)

Singapore Real Estate

New home sales up 57% in Feb despite Covid-19
Despite the Covid-19 outbreak, developers sold 975 units in February, or over 57 per cent more month-on-month, as demand for private residential homes held up. And while analysts pointed out that the lower-for-longer interest rate environment could prompt some home buyers to enter the market, the ongoing correction in stock prices and a slowing economy could present downside risks to buying sentiments in the near term.
https://www.businesstimes.com.sg/real-estate/new-home-sales-up-57-in-feb-despite-covid-19
https://www.straitstimes.com/business/property/new-home-sales-up-114-in-feb-amid-virus-outbreak

Singapore Economy

Economic impact of Covid-19 to last at least a year: Vivian
Covid-19 and its economic fallout will last at least a year, which means governments must take sustainable and sensible action for the long term, said Foreign Minister Vivian Balakrishnan. In an interview with CNBC Asia last Wednesday, he said that unlike in the 2003 severe acute respiratory syndrome (Sars) outbreak, which was largely limited to East Asia…
https://www.straitstimes.com/singapore/economic-impact-of-covid-19-to-last-at-least-a-year-vivian

Companies’ Brief

Ho Bee wins S$223.6m tender for Biopolis Phase 6 at one-north
Mainboard-listed Ho Bee Land’s subsidiary, HB Universal, has been awarded the concept and price tender to build, own and operate Biopolis Phase 6 at one-north by JTC Corporation, said Ho Bee in a statement on Monday.
https://www.businesstimes.com.sg/companies-markets/ho-bee-wins-s2236m-tender-for-biopolis-phase-6-at-one-north

Views, Reviews, Forum & Others

Post-Covid 19, flexible workplaces with dedicated spaces will be preferred
THERE is no doubt co-working has become a global trend, as much on view here in Singapore as anywhere else. But a new trend will dominate the office landscape in post-novel coronavirus Singapore: Flexible workplaces that emphasise dedicated space functionality, as much as shared spaces, will deliver superior returns to shareholders.
https://www.businesstimes.com.sg/opinion/post-covid-19-flexible-workplaces-with-dedicated-spaces-will-be-preferred

The show must go on in a future with Covid-19
While many are rightfully concerned about the mortal threat of Covid-19, the real danger may lie in the long-term knock-on effects on the economy. With the number of Covid-19 cases rapidly escalating globally, many now accept that the outbreak has now transcended the discussion of containment and prevention, and shifted towards protecting the vulnerable and keeping businesses going.
https://www.businesstimes.com.sg/opinion/the-show-must-go-on-in-a-future-with-covid-19

Singapore GE could be held in early May, if virus outbreak stabilises
Activists from the ruling People’s Action Party (PAP) are expecting the next general election to be held as soon as early May, after changes to the electoral boundaries were announced last Friday. One factor that could impact the timing of the polls is when the number of coronavirus cases stabilises, said several senior party activists who spoke to The Straits Times on condition of anonymity.
https://www.straitstimes.com/politics/ge-could-be-held-in-early-may-if-virus-outbreak-stabilises

Update on COVID-19 (Coronavirus Disease 2019) situation

Malaysia to curb movement for 2 weeks from Wednesday to contain virus
Malaysia is restricting movement nationwide for two weeks from March 18 to fight the Covid-19 outbreak. Entry restrictions will be in place, and all shops will close, with the exception of those selling food and daily essentials.
https://www.businesstimes.com.sg/government-economy/malaysia-to-curb-movement-for-2-weeks-from-wednesday-to-contain-virus
https://www.straitstimes.com/asia/se-asia/kl-bans-travel-abroad-shuts-schools-and-businesses-for-2-weeks

Business continuity planning needs to anticipate worst-case scenarios
With a rapidly-changing Covid-19 outbreak situation – and the resulting shifts in government policies – it is more crucial than ever for companies to have thorough business continuity plans, and update them frequently in anticipation of developments.
https://www.businesstimes.com.sg/government-economy/business-continuity-planning-needs-to-anticipate-worst-case-scenarios

S’pore not in danger of running out of food or supplies: Chan
Singapore has a robust, multi-pronged strategy to ensure the country does not run out of essential items, Trade and Industry Minister Chan Chun Sing said last night. The Republic has built up an inventory of food and essential supplies…
https://www.straitstimes.com/singapore/spore-not-in-danger-of-running-out-of-food-or-supplies-chan

Non-essential trips abroad: Those in isolation may have to use own leave
Employees who insist on proceeding with non-essential, non-work-related travel outside Singapore may have to use their annual leave to serve out their quarantine, stay-home notice or company-imposed leave of absence periods.
https://www.straitstimes.com/singapore/non-essential-trips-abroad-those-in-isolation-may-have-to-use-own-leave

All mosques here to remain closed until March 26
All mosques in Singapore will continue to remain closed until March 26, in a move to prevent the coronavirus from spreading any further in religious institutions in the country. The extension of the closure of all 70 mosques was announced yesterday by the Islamic Religious Council of Singapore (Muis).
https://www.straitstimes.com/singapore/all-mosques-here-to-remain-closed-until-march-26
*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