DAILY NEWS

Daily News – 15,16,17,18 April 2022 (Fri, Sat, Sun & Mon)

Singapore Real Estate

URA to explore newer flat layouts, green efforts to tackle climate change
Singaporeans in future could potentially home in on living options marked by newer flat layouts, sizes and features, with both public and private housing in accessible locations within or near the city centre.
https://www.straitstimes.com/singapore/housing/ura-to-explore-newer-flat-layouts-green-efforts-to-tackle-climate-change

Pang Sua Woodland to be developed for housing, nature groups want it kept as park
A green corridor should be established beside a housing development when an existing woodland in Choa Chu Kang is developed, to preserve the site’s links to other nature areas. This is a key recommendation from an environmental study commissioned by the Housing Board and published for public feedback on April 5.
https://www.straitstimes.com/singapore/environment/pang-sua-woodland-to-be-developed-for-housing-nature-groups-want-it-kept-as-park

Office rents in Singapore continue recovery, with green buildings in demand
The recovery in Singapore’s prime office market is gathering steam as optimism over the economy grows and more employees can return to the workplace. Grade A office rents in the Central Business District have continued to rise in the first quarter of this year.
https://www.straitstimes.com/business/property/office-rents-in-singapore-continue-recovery-with-green-buildings-in-demand

Singapore Economy

Lawrence Wong picked as the leader of Singapore’s 4G team, paving way for him to be next PM
Lawrence Wong has been chosen to be the leader of Singapore’s 4G team by the Cabinet Ministers, and the decision was endorsed by the ruling party’s members of parliament (MPs), Prime Minister (PM) Lee Hsien Loong announced on Thursday (Apr 14).
https://www.businesstimes.com.sg/government-economy/lawrence-wong-picked-as-the-leader-of-singapores-4g-team-paving-way-for-him-to-be
https://www.straitstimes.com/singapore/politics/lawrence-wong-endorsed-as-leader-of-paps-4g-team-paving-way-for-him-to-be-singapores-next-pm

Lawrence Wong clear choice to helm PAP’s 4G leadership, with 15 of 19 stakeholders backing him
The choice of Lawrence Wong to helm the People’s Action Party’s (PAP) fourth generation (4G) leadership was made by an “overwhelming majority” of those involved, and this was subsequently endorsed by its top leaders and all its MPs.
https://www.businesstimes.com.sg/government-economy/lawrence-wong-clear-choice-to-helm-paps-4g-leadership-with-15-of-19-stakeholders
https://www.straitstimes.com/singapore/politics/lawrence-wong-clear-choice-to-helm-paps-4g-leadership-with-15-of-19-stakeholders-backing-him

Lawrence Wong’s deputy will be decided later by him, says PM Lee
The decision on who will be Lawrence Wong’s deputy will be made later by him in due course, said Prime Minister Lee Hsien Loong on Saturday (Apr 16). He was speaking at a press conference at the Istana 2 days after Finance Minister Lawrence Wong, 49, was named the leader of the ruling People’s Action Party’s (PAP) fourth-generation (4G) team, following a consultation exercise led by former party chairman Khaw Boon Wan.
https://www.businesstimes.com.sg/government-economy/lawrence-wongs-deputy-will-be-decided-later-by-him-says-pm-lee
https://www.straitstimes.com/singapore/politics/lawrence-wongs-deputy-will-be-decided-later-says-pm-lee

Singaporeans expect headline inflation will rise to 9-year high at 4.1%: poll
Singaporeans’ expectations for headline inflation have risen to 9-year highs, according to the latest quarterly survey results of the Singapore Index of Inflation Expectations (SInDEx). The 1-year-ahead headline inflation expectation rose to 4.1 per cent in March 2022, from 3.2 per cent in December 2021. Inflation expectations were last recorded above 4 per cent in December 2012.
https://www.businesstimes.com.sg/government-economy/singaporeans-expect-headline-inflation-will-rise-to-9-year-high-at-41-poll

MAS could further tighten monetary policy
Singapore’s central bank could make a fourth adjustment to further tighten its monetary policy settings in the next 6 months, economists said, amid persistent inflation through 2022 that the authorities said could trend above the historical average.
https://www.businesstimes.com.sg/government-economy/mas-could-further-tighten-monetary-policy

Singapore dollar set for gains on MAS tightening stance, but outlook still clouded
The Singapore dollar may continue to drift upwards in coming weeks, aided by Thursday’s monetary policy tightening that sent the currency to its highest level in nearly two weeks.
https://www.straitstimes.com/business/economy/singapore-dollar-set-for-gains-on-mas-tightening-stance-but-outlook-is-still-clouded

Singapore’s GDP growth eases in Q1, but economists still positive
Though Singapore’s economy eased in the first quarter of 2022, most private-sector economists are still optimistic about its overall economic outlook and expect growth to pick up as soon as the next quarter.
https://www.businesstimes.com.sg/government-economy/singapores-gdp-growth-eases-in-q1-but-economists-still-positive

Singapore’s highly automated 5th desalination plant opens on Jurong Island
The Republic’s fifth desalination plant opened on Jurong Island on Sunday (Apr 17), boosting the nation’s capacity to tap its surrounding sea for water sustainability. Equipped with the latest proven water technologies, the new plant can produce up to 30 million gallons, or 137,000 cubic metres of water daily, the equivalent of 55 Olympic-sized swimming pools, said national water agency PUB.
https://www.businesstimes.com.sg/government-economy/singapores-highly-automated-5th-desalination-plant-opens-on-jurong-island
https://www.straitstimes.com/singapore/singapores-fifth-desalination-plant-opens-on-jurong-island

Singapore exports grow by 7.7% in March as gold shipments lift trade
Key Singapore exports rose for the 16th straight month in March, helped by a surge in gold, according to data from trade agency Enterprise Singapore (ESG) on Monday (Apr 18). Non-oil domestic exports (NODX) growth eased to 7.7 per cent year on year, from 9.4 per cent in the month before, but was still higher than the forecast of 1.6 per cent in a Bloomberg poll.
https://www.businesstimes.com.sg/government-economy/singapore-exports-grow-by-77%C2%A0in-march-as-gold-shipments-lift-trade
https://www.straitstimes.com/business/economy/singapore-non-oil-export-growth-slows-to-77-in-march

Singapore banks all set to embrace potentially new sustainability disclosure standards
Singapore’s banking trio seems all set to embrace the new international sustainability rules that are up for debate and could potentially obligate financial institutions to publish estimates of the carbon emissions linked to loans and investments.
https://www.businesstimes.com.sg/companies-markets/singapore-banks-all-set-to-embrace-potentially-new-sustainability-disclosure-0

Insurers play increasingly crucial role in green finance, sustainability
Insurance companies have become increasingly important players in the world of green finance – a sector that has long been dominated by banks. While banks still provide the bulk of the funds, insurers have a key role to play as the world grapples with climate change, said Mr Daniel Wang, the Monetary Authority of Singapore’s (MAS) executive director of insurance.
https://www.straitstimes.com/business/banking/insurers-play-increasingly-crucial-role-in-green-finance-sustainability

Rising interest rates: How will they impact your home loan?
Interest rates in the United States are set to go even higher – from the current 0.25 per cent to 0.5 per cent range – and this will have some impact on home mortgage rates here. The Singapore Overnight Rate Average (Sora) is now the main benchmark for mortgages.
https://www.straitstimes.com/business/property/rising-interest-rates-how-will-they-impact-your-home-loan-what-should-you-do

Singapore aims to be Asia’s busiest international airport
Changi Airport was crowned the world’s best aerodrome for 15 years straight prior to Covid-19 based on its superior traveller offerings and high-tech customer service. Now it’s readying to welcome back visitors en masse, hoping improvements made during the pandemic will cement its status as Asia’s premier aviation hub.
https://www.businesstimes.com.sg/transport/singapore-aims-to-be-asias-busiest-international-airport

Companies’ Brief

SPH shareholders to decide about opting for cash in Cuscaden acquisition
With its offer to acquire Singapore Press Holdings (SPH) approved by shareholders of the mainboard-listed property player, Cuscaden Peak has started despatching to shareholders the forms for them to choose between getting all cash or a combination of cash and SPH Reit units.
https://www.businesstimes.com.sg/companies-markets/sph-shareholders-to-decide-about-opting-for-cash-in-cuscaden-acquisition-0
https://www.straitstimes.com/business/companies-markets/sph-shareholders-to-decide-about-opting-for-cash-in-cuscaden-acquisition

Surbana eyes larger slice of Indonesia’s trillion-dollar renewable energy sector
Indonesian President Joko Widodo has set some ambitious targets for South-east Asia’s largest economy to reduce its dependence on fossil fuels and achieve net zero carbon emissions by 2060. According to reports from the Ministry of Energy and Mineral Resources, converting to renewable energy would save the country US$53 billion in costs annually from air pollution by 2030.
https://www.businesstimes.com.sg/asean-business/surbana-eyes-larger-slice-of-indonesias-trillion-dollar-renewable-energy-sector

Sales of Tiong Seng’s 2 core central region projects hit hard by cooling measures
The recent property cooling measures have affected the sales of construction group Tiong Seng’s 2 projects located in Balmoral and Orchard, due to the higher additional buyer’s stamp duty rates for foreign buyers.
https://www.businesstimes.com.sg/companies-markets/sales-of-tiong-sengs-2-core-central-region-projects-hit-hard-by-cooling-measures-0
https://www.straitstimes.com/business/property/sales-of-tiong-sengs-condo-projects-at-balmoral-orchard-hit-hard-by-cooling-measures

Keppel FELS terminates rig contracts with 2 clients
Global offshore group Keppel FELS has terminated its rig contracts with an affiliate of Clearwater Capital Partners and Fecon International Corp. These clients failed to collect the rigs they had ordered, even though it was ready to be delivered, and pay the outstanding instalments.
https://www.businesstimes.com.sg/companies-markets/keppel-fels-terminates-rig-contracts-with-2-clients-0

Views, Reviews, Forum and Others

What would it take for hydrogen to be a viable energy source for Singapore?
A new report from the International Renewable Energy Agency (IRENA), Geopolitics of the Energy Transformation: The Hydrogen Factor, analyses the political and economic changes taking place in the energy landscape and has identified China, India, Japan, South Korea, the European Union, and the United States as the frontrunners in the race to adopt and scale up clean hydrogen and other low-carbon fuels.
https://www.businesstimes.com.sg/opinion/what-would-it-take-for-hydrogen-to-be-a-viable-energy-source-for-singapore

Sabana Reit tussle shifts to the pros and cons of its distribution reinvestment plan
The manager of Sabana Industrial Reit (Sabana Reit) and activist investor Quarz Capital Management have been working hard to win over investors ahead of what is likely to be a contentious annual general meeting (AGM) on Apr 26.
https://www.businesstimes.com.sg/opinion/sabana-reit-tussle-shifts-to-the-pros-and-cons-of-its-distribution-reinvestment-plan

Businesses are just scratching the surface of automation in Singapore
The Budget 2022 announcements and the latest annual review unveiled by Enterprise Singapore have made it clear that building digital capabilities and driving innovations will continue to be key priorities in Singapore. In particular, the need to improve productivity and upgrading of capabilities through technologies such as automation, the cloud and analytics have been top-of-mind among many business leaders here.
https://www.businesstimes.com.sg/opinion/businesses-are-just-scratching-the-surface-of-automation-in-singapore-0

Good move by MAS to mandate family offices to invest more in Singapore
The Society of Remisiers (Singapore) applauds the recent move by MAS to mandate qualifying family offices to invest at least 10 per cent of their assets under management (AUM) – or S$10 million, whichever is lower – in local investments.
https://www.businesstimes.com.sg/opinion/good-move-by-mas-to-mandate-family-offices-to-invest-more-in-singapore-0

Mind the employee engagement gap in hybrid work
With the recent relaxation of safe-management rules and a higher threshold for employees to work in the office, organisations continue to adapt to the new reality of hybrid and flexible ways of working. This trend is likely to stay for the long term, given how the pandemic has normalised remote working from a “need” to a “want”.
https://www.businesstimes.com.sg/opinion/mind-the-employee-engagement-gap-in-hybrid-work-0

Property listcos have more women chair than those in other sectors
Close to 18 per cent of the real estate service firms and real estate investment trusts (Reits) listed on the Singapore Exchange (SGX) have an executive chairwoman on their board of directors. That is higher than the 7 per cent of all SGX-listed companies (listcos) with women chairing their boards as at the end of 2021, an analysis by the Institute of Real Estate and Urban Studies (IREUS) shows.
https://www.businesstimes.com.sg/real-estate/property-listcos-have-more-women-chair-than-those-in-other-sectors

More coordinated effort, investment needed to achieve climate goals
The message is clear: the world is making an effort to save the planet, but a lot more work – and a lot more coordination of such efforts is going to be required if climate goals are to be attained.
https://www.businesstimes.com.sg/government-economy/more-coordinated-effort-investment-needed-to-achieve-climate-goals

Update on COVID-19 (Coronavirus Disease 2019) Situation

2 key considerations as Singapore mulls over next step of reopening: Ong Ye Kung
As Singapore mulls over the next steps of its reopening, it will keep two considerations in mind, said Health Minister Ong Ye Kung on Sunday (April 17). The first is the overall Covid-19 situation here, with Mr Ong saying the authorities will keep a close eye on hospital capacity and the number of severe cases.
https://www.straitstimes.com/singapore/community/two-key-considerations-as-singapore-mulls-over-next-step-of-reopening-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