DAILY NEWS

Daily News – 17 June 2021 (Thu)

Singapore Real Estate

F&B outlets may rethink real estate footprint as online sales grow
The surge in online sales of food and beverage (F&B) is likely to slow down but prime mall space may, nonetheless, fall out of favour as cloud kitchens become more popular. F&B retailers will probably have to rethink their operations and real estate footprint, said Lee Nai Jia,
https://www.businesstimes.com.sg/real-estate/fb-outlets-may-rethink-real-estate-footprint-as-online-sales-grow

Singapore Economy

Singapore evaluating timing, scope of next stage of reopening
The multi-ministry task force tackling Covid-19 is reviewing the timing and scope of the second stage of the economy’s reopening, in the light of the emergence of a major Covid-19 cluster in Bukit Merah and other new Covid-19 cases, Finance Minister Lawrence Wong said on Wednesday.
https://www.businesstimes.com.sg/government-economy/singapore-evaluating-timing-scope-of-next-stage-of-reopening
https://www.straitstimes.com/singapore/bukit-merah-cluster-may-impact-next-stage-of-reopening

Lawrence Wong downbeat about the return of air travel anytime soon
While supply chains and trade have shown resilience during the Covid-19 pandemic, the outlook is gloomier for air travel, said Finance Minister Lawrence Wong at CNBC’s Evolve Global Summit on Wednesday.
https://www.businesstimes.com.sg/government-economy/lawrence-wong-downbeat-about-the-return-of-air-travel-anytime-soon

Expat flows may stabilise later this year
Singapore saw fluctuations in skilled foreign talent flows since the onset of the pandemic in 2020, but the country can expect this to stabilise later this year, say recruiters, relocation firms and immigration consultants.
https://www.businesstimes.com.sg/government-economy/expat-flows-may-stabilise-later-this-year

Slower population growth, ageing need not be alarming: economists
Singapore’s population growth over the last decade slowed to 1.1 per cent per year, less than half of the 2.5 per cent annual rate in the decade before that, the latest Census of Population showed. While the trend of an ageing population persists, the economic implications are not necessarily that alarming, said economists.
https://www.businesstimes.com.sg/government-economy/slower-population-growth-ageing-need-not-be-alarming-economists-0
https://www.straitstimes.com/singapore/politics/spore-population-growth-at-slowest-pace-since-1965

Singapore non-oil exports grow 8.8% y-o-y in May, extending April’s gains: ESG
Singapore’s key exports in May grew 8.8 per cent year on year, extending the previous month’s gains, but saw a slight sequential fall, according to Enterprise Singapore (ESG) on Thursday. May’s non-oil domestic exports (NODX) rose 8.8 per cent year on year, continuing April’s 6 per cent rally…
https://www.businesstimes.com.sg/government-economy/singapore-non-oil-exports-grow-88-y-o-y-in-may-extending-aprils-gains-esg
https://www.straitstimes.com/business/economy/singapore-exports-growth-pick-up-pace-in-may-but-came-lower-than-expected

Uptick in bookings at some attractions, hotels as Covid-19 curbs ease
With just over a week left of the June school holidays, people in Singapore are returning to attractions and staycations, which saw an increase in bookings since some Covid-19 restrictions were lifted earlier this week.
https://www.straitstimes.com/singapore/uptick-in-bookings-at-some-attractions-hotels-as-covid-19-curbs-ease

Companies’ Brief

Would a listing of Mapletree Investments be good for the Singapore market?
Some of Singapore’s biggest corporations are struggling, including those backed by state investor Temasek Holdings. Singapore Airlines, CapitaLand, Keppel Corporation, Sembcorp Industries and Sembcorp Marine all posted losses in their latest full-year financial results.
https://www.businesstimes.com.sg/companies-markets/would-a-listing-of-mapletree-investments-be-good-for-the-singapore-market

Soilbuild Construction unit receives writ of summons from condo developer
Soilbuild Construction Group’s wholly-owned subsidiary, Precast Concrete Builders (PCB), on Tuesday received a writ of summons and a statement of claim filed in the High Court of Singapore. The documents were filed by the lawyers of TG Development, the developer of luxury condominium The Peak @ Cairnhill II…
https://www.businesstimes.com.sg/companies-markets/soilbuild-construction-unit-receives-writ-of-summons-from-condo-developer

Ascendas Reit trustee prices 300m euros of 0.75% notes due 2028
Ascendas Real Estate Investment Trust’s (Ascendas Reit) trustee on Wednesday priced 300 million euros (S$480.8 million) in notes due 2028, the manager said in a bourse filing on Thursday. The notes, which have a fixed interest rate of 0.75 per cent per annum and a reoffer yield of 0.773 per cent per annum…
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-trustee-prices-300m-euros-of-075-notes-due-2028

Suntec Reit sells 30% stake in new 9 Penang Road building
Suntec Real Estate Investment Trust (Suntec Reit) has sold its 30 per cent interest in 9 Penang Road, formerly known as Park Mall, to Haiyi Holdings. The buyer will pay about S$89.9 million for the 15 million ordinary shares and 678 redeemable preference shares that Suntec Reit held in the joint venture (JV)…
https://www.businesstimes.com.sg/companies-markets/suntec-reit-sells-30-stake-in-new-9-penang-road-building
https://www.straitstimes.com/business/companies-markets/suntec-reit-sells-30-stake-in-new-9-penang-road-building

Constituents of the iEdge S-Reit Index
https://www.businesstimes.com.sg/companies-markets/constituents-of-the-iedge-s-reit-index

Views, Reviews, Forum & Others

Targeting groups can boost retail sales in Singapore
As Singapore gradually relaxes its Phase 2 (Heightened Alert) curbs, it is clear that many are itching to resume in-person social interactions, such as visiting their favourite stores and dining out at restaurants with their friends and family. The easing of restrictions is expected to lead to a surge in visits by groups of consumers to retail outlets, as Singaporeans recombine their favourite passions of shopping and dining.
https://www.businesstimes.com.sg/opinion/targeting-groups-can-boost-retail-sales-in-singapore

Designing density better for cities and nature
The outbreak of the Covid-19 pandemic in early 2020 triggered widespread anxiety about the role of high urban population densities in spreading the virus. As we learned, the virus was transmitted through respiratory droplets and contact.
https://www.businesstimes.com.sg/opinion/designing-density-better-for-cities-and-nature

Corporate culture and Covid-19: How leaders respond is crucial
Discussions on ways to improve corporate governance usually focus on the training and competence of directors, ensuring independence, disclosure of material announcements and related-party transactions, and most commonly, improving communications between the board and shareholders.
https://www.businesstimes.com.sg/opinion/corporate-culture-and-covid-19-how-leaders-respond-is-crucial

How to have a roaring 2020s without wild inflation
The greatest boom in US history is the one we experienced during the mobilisation for World War II. In our popular memory, imagery of scarcity and household belt-tightening to help the war effort abounds. But in reality, at an aggregate level, there was no fall in household consumption during the war years.
https://www.businesstimes.com.sg/opinion/how-to-have-a-roaring-2020s-without-wild-inflation

Inflation and its effect
From hawker food to aviation fuel, consumer and wholesale good prices have been rising. What does it mean for investors and businesses?
https://www.businesstimes.com.sg/infographics/inflation-and-its-effect

Update on COVID-19 (Coronavirus Disease 2019) Situation

Bukit Merah View food centre cluster grows to 39 cases
[Singapore] There were 14 more people added to the Bukit Merah View food centre cluster on Wednesday night, most of whom are food stall workers there or their household contacts, said the Ministry of Health. This brings the total number of cases in the cluster to 39.
https://www.businesstimes.com.sg/government-economy/bukit-merah-view-food-centre-cluster-grows-to-39-cases
https://www.straitstimes.com/singapore/bukit-merah-view-market-to-stay-shut-as-cluster-grows-to-39

3 unlinked infections among 19 new community cases
Three of the 19 new Covid-19 cases announced by the Ministry of Health yesterday were unlinked. They include an 85-year-old Singaporean retiree, who developed a fever last Saturday but did not seek medical treatment until Tuesday when she went to a general practitioner’s clinic.
https://www.straitstimes.com/singapore/health/3-unlinked-infections-among-19-new-community-cases

Over 3,400 Ion staff, visitors negative in compulsory test
More than 3,400 retail staff and visitors of Ion Orchard who had to take a compulsory Covid-19 swab test have tested negative for the coronavirus. The Ministry of Health said it concluded the mandatory polymerase chain reaction testing on Tuesday.
https://www.straitstimes.com/singapore/over-3400-ion-staff-visitors-negative-in-compulsory-test

24 private clinics to offer Sinovac’s Covid-19 vaccine for S$10 to S$25
[Singapore] Twenty-four private healthcare institutions have been selected by the Ministry of Health (MOH) to be licensed providers of Sinovac’s Covid-19 vaccine. MOH said on Wednesday night that they will be able to draw on an existing stock of the vaccine, and can administer it to Singaporeans, permanent residents and long term pass holders here.
https://www.businesstimes.com.sg/government-economy/24-private-clinics-to-offer-sinovacs-covid-19-vaccine-for-s10-to-s25
https://www.straitstimes.com/singapore/health/24-private-clinics-selected-to-offer-sinovacs-vaccine

No rush for DIY Covid-19 test kits on first day of sales
Sales of self-administered Covid-19 test kits started at all major pharmacies in Singapore yesterday. All 79 Guardian pharmacy stores islandwide have been stocked with two antigen rapid test (ART) kits: the Abbott PanBio Covid-19 Antigen Self-test and the QuickVue At-Home OTC Covid-19 Test.
https://www.straitstimes.com/singapore/no-rush-for-diy-covid-19-test-kits-on-first-day-of-sales-0

*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