DAILY NEWS

Daily News – 18 Jun 2020 (Thu)

Singapore Real Estate

Two Tuas industrial properties up for sale with S$17m, S$6m indicative prices
Two industrial properties located near Tuas Checkpoint and the future Tuas Mega Port will be up for sale via expression of interest on Thursday, Colliers International said on Wednesday. The properties are 31 Tuas South Street 5 and 8 Tuas South Street 6, which have indicative prices of S$17 million and S$6 million respectively.
https://www.businesstimes.com.sg/real-estate/two-tuas-industrial-properties-up-for-sale-with-s17m-s6m-indicative-prices

Several recent GCB deals had viewings before circuit breaker
There have been several bungalow transactions in Good Class Bungalow (GCB) Areas recently – though viewings by the respective buyers had been done before the onset of the “circuit breaker” partial lockdown on April 7.
https://www.businesstimes.com.sg/real-estate/several-recent-gcb-deals-had-viewings-before-circuit-breaker

9 carpark rooftop farming sites get 88 proposals
Local farmers are jumping at the chance to be among the first crop-growers on carpark rooftops in Singapore. A total of 88 proposals were submitted in the tender for nine sites on the rooftops of Housing and Development Board (HDB) multi-storey carparks in Singapore to be used for urban farming, said the Singapore Food Agency (SFA) and HDB on Wednesday.
https://www.businesstimes.com.sg/real-estate/9-carpark-rooftop-farming-sites-get-88-proposals

Downtime pushing builders to take strides in innovation, productivity
The ongoing pandemic has brought into sharp focus the need for the construction industry to raise productivity, a long-time bugbear that has become more pertinent as a result of the manpower crunch, project delays and tougher safety rules brought by the Covid-19 crisis.
https://www.businesstimes.com.sg/government-economy/downtime-pushing-builders-to-take-strides-in-innovation-productivity

Singapore Economy

Singapore ranks 2nd in Asia, 18th globally for ease of doing business
Singapore has come in second in Asia and 18th worldwide on a ranking of the simplest places to do business, beating countries such as India, China and Korea. The Republic lost out to Hong Kong for the top Asia spot on this year’s Global Business Complexity Index, released as part of a report by business administration support services firm TMF Group.
https://www.businesstimes.com.sg/government-economy/singapore-ranks-2nd-in-asia-18th-globally-for-ease-of-doing-business
https://www.straitstimes.com/business/economy/spore-is-second-easiest-place-in-asia-to-do-business-study

Asia Q2 business sentiment at record low on virus impact: poll
Business sentiment of Asian companies sank to an 11-year low in the second quarter, a survey has found, with some two-thirds of the firms polled flagging a worsening Covid-19 pandemic as the biggest risk over the next six months.
https://www.businesstimes.com.sg/government-economy/asia-q2-business-sentiment-at-record-low-on-virus-impact-poll
https://www.straitstimes.com/business/economy/business-sentiment-of-asian-firms-hits-record-low-survey

Non-oil exports down 4.5% in May after 3 months of growth
Non-oil domestic exports (Nodx) fell last month – the first contraction after three months of expansion. Nodx decreased by 4.5 per cent compared with the same month last year – confounding experts who had tipped a 1 per cent increase. It was also a stark reversal from the 9.7 per cent year-on-year increase in April.
https://www.straitstimes.com/business/economy/non-oil-exports-down-45-in-may-after-3-months-of-growth
https://www.businesstimes.com.sg/government-economy/singapores-non-oil-exports-fall-45-in-may-first-drop-in-2020

S’pore MOUs with Shenzhen a lift for Smart City Initiative
Singapore and Shenzhen have inked eight memorandums of understanding (MOUs) in support of the Singapore-China (Shenzhen) Smart City Initiative (SCI) that was first agreed upon last year, a move that will deepen technological cooperation between both cities.
https://www.straitstimes.com/asia/east-asia/spore-mous-with-shenzhen-a-lift-for-smart-city-initiative
https://www.businesstimes.com.sg/government-economy/singapore-shenzhen-ink-mous-for-smart-city-initiative

Companies’ Brief

Ascott secures contracts for 25 new properties
In the first five months of 2020, CapitaLand’s lodging business unit The Ascott Limited secured contracts for 25 new properties. The contracts cover 5,400 units across 19 cities, the property giant said on Wednesday.
https://www.businesstimes.com.sg/companies-markets/ascott-secures-contracts-for-25-new-properties
https://www.straitstimes.com/business/property/ascott-secures-contracts-for-25-new-properties-0

IReit Global bags five-year lease for office space in Barcelona property
IReit Global has secured a “pivotal” five-year lease from a tenant for 3,450 square metres (sq m) of office space in its Il∙lumina office building in Barcelona despite the Covid-19 lockdown, the real estate investment trust’s (Reit) manager said in a bourse filing on Thursday.
https://www.businesstimes.com.sg/companies-markets/ireit-global%C2%A0bags-five-year-lease-for-office-space-in-barcelona-property

Keppel, Mitsubishi Heavy to explore hydrogen-powered plant concept for Singapore data centres
Keppel Data Centres Holding and Mitsubishi Heavy Industries Asia Pacific on Thursday inked a memorandum of understanding (MOU) to jointly explore the implementation of a hydrogen-powered, tri-generation plant concept for data centres in Singapore.
https://www.businesstimes.com.sg/companies-markets/keppel%C2%A0mitsubishi-heavy-to-explore%C2%A0hydrogen-powered-plant-concept-for-singapore
https://www.straitstimes.com/business/companies-markets/use-of-hydrogen-to-power-data-centres-in-singapore-being-studied-by

Mapletree Investments reports 18% drop in net profit to S$1.78b
Mapletree Investments announced on Wednesday that its net profit for the fiscal year ended March 31, 2020 fell 18 per cent to S$1.78 billion, compared to S$2.16 billion a year earlier, on lower asset revaluation and disposal gains.
https://www.businesstimes.com.sg/companies-markets/mapletree-investments-reports-18-drop-in-net-profit-to-s178b

Views, Reviews, Forum & Others

How Covid-19 will change the world
In less than six months, Covid-19 has transformed the world. But what might its impact ultimately be? Our ignorance on this is quite comprehensive. But it is far from absolute. So let us take stock.
https://www.straitstimes.com/opinion/how-covid-19-will-change-the-world

Strengthening a compact of ‘self-effort and selflessness’
This is the transcript of Senior Minister Tharman Shanmugaratnam’s ministerial broadcast yesterday on ‘a stronger and more cohesive society’. It is the fifth ministerial broadcast on life after Covid-19. The final broadcast is on Saturday by Deputy Prime Minister and Finance Minister Heng Swee Keat.
https://www.straitstimes.com/opinion/strengthening-a-compact-of-self-effort-and-selflessness

Lives vs livelihoods: The case for the 80/20 model
The highly infectious nature of the novel coronavirus has created a unique and global healthcare challenge for all policymakers since the beginning of 2020. After many weeks of a tight lockdown (or “circuit breaker”, as Singapore has termed it), governments are cautiously reopening their economies, mindful of the need to minimise risks of triggering any new waves of infection.
https://www.businesstimes.com.sg/opinion/lives-vs-livelihoods-the-case-for-the-8020-model
https://www.straitstimes.com/opinion/lives-v-livelihoods-debate-the-economists-take

Asian companies must turn scale into value
As asia grapples with the impact of Covid-19, the region’s top corporate executives are deeply concerned about the impact on business performance and livelihoods in a volatile post-pandemic environment. For many of Asia’s largest companies, this complicates the underperformance challenge they were already facing pre-Covid-19.
https://www.businesstimes.com.sg/opinion/asian-companies-must-turn-scale-into-value

5G not just hype, but offers real investable opportunities
There is no doubt that 5G is going to change the world. The impact it will have on a wide range of industries will likely be bigger than we have seen with any previous generation of mobile telecommunications.
https://www.businesstimes.com.sg/opinion/5g-not-just-hype-but-offers-real-investable-opportunities

Singapore Budget 2020

Over 130 firms return $97m in job support payouts
The scheme, which subsidises between 25 per cent and 75 per cent of the first $4,600 in gross monthly wages for local workers, aims to help firms retain employees during the Covid-19 pandemic. It was announced in February and enhanced in successive support packages.
https://www.straitstimes.com/business/over-130-firms-return-97m-in-job-support-payouts

Update on COVID-19 (Coronavirus Disease 2019) Situation

Business operations in Phase Two
Singapore begins Phase Two of its re-opening on Friday, with a greater easing of restrictions to allow more business and social activities to resume. Virtually the entire economy will be reopened, although there are still strict limits on the number of people who can get together. Safe distancing is also a must. The Ministry of Trade and Industry (MTI), Ministry of Manpower (MOM) and Enterprise Singapore (ESG)…
https://www.businesstimes.com.sg/companies-markets/business-operations-in-phase-two

Singapore must not despair, but stay cohesive: Tharman
While Singapore cannot escape the global economic downturn, it must absolutely defy the loss of social cohesion, polarisation and despair that are taking hold in other countries, Senior Minister Tharman Shanmugaratnam said on Wednesday.
https://www.businesstimes.com.sg/government-economy/singapore-must-not-despair-but-stay-cohesive-tharman
https://www.straitstimes.com/politics/spore-to-strengthen-social-compact-to-keep-society-united

National effort to help older workers find jobs: Tharman
Employers who hire middle-aged and older Singaporeans will receive extra support from the Government, Senior Minister Tharman Shanmugaratnam said yesterday. A programme to open new pathways for mid-career job seekers will also be scaled up in the coming months.
https://www.straitstimes.com/politics/national-effort-to-help-older-workers-find-jobs-tharman

Govt service centres, libraries among facilities to reopen gradually
More public spaces will progressively be made accessible again when Singapore enters phase two of its reopening tomorrow, including public libraries, various government service centres and common areas in public housing estates such as playgrounds and fitness corners.
https://www.straitstimes.com/singapore/govt-service-centres-libraries-among-facilities-to-reopen-gradually

Coronavirus: Foreign workers help boost TraceTogether take-up rate to 2m
Around two million people here have downloaded the national contact tracing app TraceTogether, after rules were introduced for foreign workers to do so as part of heightened measures to combat the spread of Covid-19 in dormitories and work sites.
https://www.straitstimes.com/tech/foreign-workers-help-boost-tracetogether-take-up-rate-to-2m

Test costs waived for those who left before March 27 advisory
Singaporeans and permanent residents who left Singapore before an advisory against travelling out of the country was issued on March 27 and who are returning in the near future will not have to pay for their Covid-19 tests.
https://www.straitstimes.com/singapore/test-costs-waived-for-those-who-left-before-march-27-advisory
*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