DAILY NEWS

Daily News – 17 November 2021 (Wed)

Singapore Real Estate

Yong An Park unit changes hands for S$12.5m – making it the most profitable Q3 deal in the resale market
A 6,577 square foot (sq ft) unit at freehold Yong An Park along River Valley Road was transacted for S$12.5 million (S$1,901 per square foot) in September, earning the seller a handsome windfall of S$8.7 million – and making it the most profitable transaction by quantum in the third quarter of this year.
https://www.businesstimes.com.sg/real-estate/yong-an-park-unit-changes-hands-for-s125m-making-it-the-most-profitable-q3-deal-in-the

Singapore Economy

October exports surge 17.9% to race past forecasts; global chip demand a driving force
Singapore exports rose for the 11th straight month in October, driven by non-monetary gold, specialised machinery and petrochemicals, though electronics shipments also remained strong. Non-oil domestic exports (NODX) growth jumped by 17.9 per cent year on year…
https://www.businesstimes.com.sg/government-economy/october-exports-surge-179-to-race-past-forecasts-global-chip-demand-a-driving
https://www.straitstimes.com/business/economy/singapore-non-oil-exports-strengthen-with-179-jump-in-october

Companies’ Brief

CDL’s S$2.5b in sales for first 9 months of 2021 shoot past sales for whole of 2020
Property developer City Developments Limited (CDL) has sold S$2.5 billion worth of units in the first nine months of the year, surpassing the amount it sold for the whole of 2020, the mainboard-listed company said on Tuesday (Nov 16).
https://www.businesstimes.com.sg/companies-markets/cdls-s25b-in-sales-for-first-9-months-of-2021-shoot-past-sales-for-whole-of-2020
https://www.straitstimes.com/business/property/cdl-property-sales-hit-25b-for-first-9-months-of-year-more-than-for-whole-of-2020

Views, Reviews, Forum & Others

A steady pace towards a fuller reopening
Decisions announced by the ministerial task force on Monday reflect the long game that Singapore needs to play as it makes the best of regularly changing circumstances that come with the coronavirus pandemic. Some dining concessions will be extended to hawker centres and coffee shops to allow fully vaccinated members of the same household to eat out in groups of up to five by the end of this month.
https://www.straitstimes.com/opinion/st-editorial/a-steady-pace-towards-a-fuller-reopening

Making decarbonisation economically sustainable

With all eyes on the recent United Nations Climate Change Conference (COP26) in Glasgow, there has been ample media coverage of youth protests, high-level diplomacy, and new agreements to reduce methane and protect the world’s forests.
https://www.businesstimes.com.sg/opinion/making-decarbonisation-economically-sustainable

Businesses can close the ambition gap in a post-COP26 world
As the curtain fell on the United Nations Climate Change Conference (COP26), it seemed to suggest that there remained a lack of ambition, with the planet expected to warm by 2.4 deg C rather than achieving the target of 1.5 deg C by 2030.
https://www.businesstimes.com.sg/opinion/businesses-can-close-the-ambition-gap-in-a-post-cop26-world
https://www.straitstimes.com/opinion/cop26-why-we-must-do-all-we-can-to-meet-the-15-deg-c-target

A self-sustaining cycle is unfolding
With less than 45 days to go in 2021, it is time to take stock of where we are and what lies ahead in 2022. There are a number of reasons to be confident about Asia’s macro outlook. A private capex boom and productivity revival should drive a self-sustaining recovery…
https://www.businesstimes.com.sg/wealth-investing/a-self-sustaining-cycle-is-unfolding

F&B sector continues to see brisk entries despite challenges
Despite challenges faced by Singapore’s food and beverage (F&B) sector, the industry continued to see a large number of entrants in 2020 and even in the first 8 months of this year. But observers are questioning if that is an effective use of resources, given the low productivity in the sector.
https://www.businesstimes.com.sg/consumer/fb-sector-continues-to-see-brisk-entries-despite-challenges

Update on COVID-19 (Coronavirus Disease 2019) Situation

2,069 new Covid-19 cases, 18 deaths; weekly infection growth rate at 0.88
[Singapore] There were 2,069 new Covid-19 infections reported in Singapore on Tuesday (Nov 16), said the Ministry of Health (MOH). The Covid-19 weekly infection growth rate dipped to 0.88, down from 0.94 on Monday. The number refers to the ratio of community cases in the past week over the week before.
https://www.businesstimes.com.sg/government-economy/2069-new-covid-19-cases-18-deaths-weekly-infection-growth-rate-at-088

KKH recruiting children aged 5 to 11 for Covid-19 vaccination trial

Singapore – A trial on rolling out the Pfizer Covid-19 vaccine among younger children in Singapore has started recruiting participants. In a Facebook post on Tuesday (Nov 16), KK Women’s and Children’s Hospital (KKH) said that it is conducting a research study to assess how children here respond to Covid-19 vaccination.
https://www.straitstimes.com/singapore/kkh-recruiting-children-aged-5-to-11-for-covid-19-vaccination-trial

VTLs with Indonesia and India have plus points, but there are also limitations
Singapore – Vaccinated travel lanes (VTLs) with Indonesia and India, two of Changi Airport’s top three markets, can give a big lift to businesses and people here, but headwinds will come from continued travel restrictions and cost concerns.
https://www.straitstimes.com/singapore/vtls-with-indonesia-and-india-have-plus-points-but-there-are-also-limitations
https://www.straitstimes.com/asia/se-asia/indonesian-travellers-look-forward-to-spending-year-end-holidays-in-spore-as-bilateral

*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