DAILY NEWS

Daily News – 17 August 2021 (Tue)

Singapore Real Estate

Singapore developers’ private home sales surge 82% in July on suburban demand
Real estate developers in Singapore moved 1,589 private homes in July this year, an 82.2 per cent surge from the 872 units sold in the previous month. These figures – which exclude executive condominium (EC) units – were released by the Urban Redevelopment Authority (URA) on Monday, based on its survey of licensed housing developers.
https://www.businesstimes.com.sg/real-estate/singapore-developers-private-home-sales-surge-82-in-july-on-suburban-demand
https://www.straitstimes.com/business/property/new-private-home-sales-surge-82-in-july

No let-up in warehouse investing frenzy
Swanky malls? Trophy offices? Not quite the flavour of the pandemic. Instead, it’s logistics properties: Singapore groups are busy buying warehouses.
https://www.businesstimes.com.sg/real-estate/no-let-up-in-warehouse-investing-frenzy

Singapore Economy

Singapore as global hub must move past ‘foreign-local worker balance’ debate: Chan Chun Sing
Any country or city aspiring to be a global hub will have to move past the debate on foreign-local worker balance, and Singapore is no different, said Education Minister Chan Chun Sing. Thus, the Republic has to focus on the “critical task” of building a global innovation and knowledge network.
https://www.businesstimes.com.sg/government-economy/singapore-as-global-hub-must-move-past-foreign-local-worker-balance-debate-chan
https://www.straitstimes.com/singapore/community/minister-need-to-review-pre-pandemic-assumptions-about-economic-strategy

Singapore’s non-oil exports rose 12.7% in July in eighth straight month of gains
Singapore’s non-oil domestic exports (NODX) rose 12.7 per cent in July, marking the eighth month of expansion, Enterprise Singapore (ESG) data showed on Tuesday. But this was below economists’ expectations of 14 per cent growth, and also down from June’s 15.9 per cent pace.
https://www.businesstimes.com.sg/government-economy/singapores-non-oil-exports-rose-127-in-july-in-eighth-straight-month-of-gains
https://www.straitstimes.com/business/economy/singapore-non-oil-domestic-exports-rise-at-slower-pace-of-127-in-july-still-beating

Companies’ Brief

Oxley chalks up S$4.3b in sales for Singapore residential projects
Property developer Oxley Holdings on Monday said it has secured S$4.3 billion in sales for its development projects in Singapore. Around 91 per cent of its residential units here have been sold as at Aug 8, 2021, representing 87 per cent of the total gross development value (GDV), said the group in a bourse filing.
https://www.businesstimes.com.sg/companies-markets/oxley-chalks-up-s43b-in-sales-for-singapore-residential-projects

Views, Reviews, Forum & Others

How would millennials and Gen Z deal with a world in crisis?
Young people today are coming of age in a world beset by crises. Even before the Covid-19 pandemic devastated lives and livelihoods around the world, the socioeconomic systems of the past had put the liveability of the planet at risk and eroded the pathway to healthy, happy, fulfilled lives for too many.
https://www.straitstimes.com/opinion/how-would-millennials-and-gen-z-deal-with-a-world-in-crisis

21 companies, 6 individuals lauded for fair employment practices
Prudential Singapore was the first financial institution to remove the retirement age of 62 in 2018, while implementing other age-inclusive practices like raising the age cap to 100 for group medical coverage for its staff and employees of corporate clients.
https://www.businesstimes.com.sg/government-economy/21-companies-6-individuals-lauded-for-fair-employment-practices

New DBS loan lets private property owners borrow against homes to fund retirement
To help retirees make the most of their home equity, DBS is letting seniors in Singapore borrow against their fully paid private homes to supplement their retirement incomes. Under its new home equity income loan scheme, Singaporeans and permanent residents aged 65 to 79 who own and reside in fully paid private properties will be able to take out loans to top up their Central Provident Fund (CPF) retirement sums, so as to raise the monthly payouts they receive under the CPF Life (Lifelong Income For The Elderly) scheme.
https://www.businesstimes.com.sg/banking-finance/new-dbs-loan-lets-private-property-owners-borrow-against-homes-to-fund-retirement
https://www.straitstimes.com/business/property/dbs-new-loan-targets-asset-rich-cash-poor-retirees

Singapore investments in Indonesia up 30%
Indonesia continues to be prominent in the minds of Singapore businessmen as the Republic’s investments in the neighbouring country shot up by a robust 30 per cent last year despite the difficult business conditions created by the Covid-19 pandemic which reduced personal contact and business visits.
https://www.businesstimes.com.sg/hub/indonesia-76th-independence-day/singapore-investments-in-indonesia-up-30

How to track your performance and rebalance your portfolio
We have focused in previous weeks on how to kick start your investment journey, covering the basics on various asset classes and the benefits of diversifying your investment portfolio. Setting up your portfolio is just the beginning. Maintenance is necessary to ensure your portfolio meets your investment objectives.
https://www.businesstimes.com.sg/hub/invest-grow/how-to-track-your-performance-and-rebalance-your-portfolio

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore ‘might well be the most vaccinated country in the world’: Ong Ye Kung
The vast majority of Singapore’s seniors now have at least partial protection against Covid-19, with 85 per cent of those aged 70 and above having received at least one shot of a vaccine, said Health Minister Ong Ye Kung on Monday.
https://www.businesstimes.com.sg/government-economy/singapore-might-well-be-the-most-vaccinated-country-in-the-world-ong-ye-kung
https://www.straitstimes.com/singapore/health/vast-majority-of-seniors-have-had-at-least-one-dose-ong-ye-kung

New Covid-19 cluster in Sungei Kadut Loop dormitory; Bishan Bus Interchange cluster grows to 15
There is a new cluster at a dormitory located at 43 Sungei Kadut Loop, said the Ministry of Health (MOH) on Monday. There are 12 cases linked to the cluster. The cluster linked to staff at Bishan Bus Interchange also grew by five cases, to a total of 15.
https://www.businesstimes.com.sg/government-economy/new-covid-19-cluster-in-sungei-kadut-loop-dormitory-bishan-bus-interchange
https://www.straitstimes.com/singapore/health/new-dorm-cluster-with-13-cases-in-sungei-kadut-bishan-interchange-cluster-grows-to

Hospitals to implement Covid-19 vaccination-differentiated rules for visitors
Visits to hospital wards will be allowed to resume from Thursday, but with vaccination-differentiated measures in place to reduce the risk of Covid-19 transmission. Visitors who are fully vaccinated, or have recovered from Covid-19 and have a valid pre-event test exemption notice will be able to enter wards without needing to take a pre-visit Covid-19 test, said the Ministry of Health (MOH).
https://www.straitstimes.com/singapore/health/hospitals-to-implement-covid-19-vaccination-differentiated-rules-for-visitors

Rate of suspected adverse events at 0.1% after over 7.5m jabs
The rate of suspected adverse events linked to the Covid-19 vaccines under the national vaccination programme stands at 0.12 per cent, the Health Sciences Authority (HSA) said yesterday. The report – the fourth safety update for the Pfizer and Moderna vaccines under the national vaccination programme – this time also included the Sinovac-CoronaVac shot under the special access route.
https://www.straitstimes.com/singapore/health/rate-of-suspected-adverse-events-at-01-after-over-75m-jabs

*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