DAILY NEWS

Daily News – 18 Nov 2020 (Wed)

Singapore Real Estate

BTO sales: Over 5,700 flats on offer
The final Housing Board sales exercise of the year kicked off yesterday, with over 5,700 Build-To-Order flats on offer across five towns. Interest was so high that HDB’s website experienced heavy traffic in the evening, and some reported issues submitting applications.
https://www.straitstimes.com/singapore/housing/over-5700-flats-on-offer
https://www.straitstimes.com/singapore/housing/keen-interest-in-5795-bto-flats-up-for-sale-in-five-estates

Non-traditional Reits – more than meets the eye
Reits are investment vehicles that invest in a portfolio of income-generating real estate assets and are attractive to investors seeking a passive and stable income stream. Traditional Reits typically hold retail, office and industrial assets that have a long track record of an active secondary sales and rental market.
https://www.businesstimes.com.sg/wealth-investing/non-traditional-reits-more-than-meets-the-eye

Singapore Economy

Safer to freeze some sectors than open too early, says PM
It is better to keep some economic sectors “in suspended animation” and provide support to those who are affected, rather than allow such activities to resume before the Covid-19 risks are addressed, said Prime Minister Lee Hsien Loong at the Bloomberg 2020 New Economy Forum.
https://www.businesstimes.com.sg/government-economy/safer-to-freeze-some-sectors-than-open-too-early-says-pm

S’pore needs top tech talent to build world-class teams: PM
Even as the local tech talent pool grows, Singapore has to bring in foreign professionals at mid-to senior levels to build world-class teams, grow the industry and tackle urgent problems, said Prime Minister Lee Hsien Loong yesterday.
https://www.straitstimes.com/singapore/spore-needs-top-tech-talent-to-build-world-class-teams-pm
https://www.straitstimes.com/singapore/politics/tech-critical-to-singapores-covid-19-response

Ministers flag need for Apec members to keep supply chains open, work to reopen borders safely
The Covid-19 pandemic has brought into sharp relief the challenges that countries face in the supply of food and other essentials, and it is critical that countries in the Asia-Pacific work together to strengthen supply chains and keep trade flowing, two Singapore ministers said.
https://www.businesstimes.com.sg/government-economy/ministers-flag-need-for-apec-members-to-keep-supply-chains-open-work-to-reopen
https://www.straitstimes.com/singapore/politics/ministers-flag-need-for-apec-members-to-keep-trade-flowing

Companies’ Brief

CapitaLand Retail China Trust to raise at least S$300m for acquisition
CapitaLand Retail China Trust (CRCT) has launched an equity fund-raising to finance part of its proposed purchase of interests in business parks and a Guangzhou mall. The private placement’s indicative issue price range is S$1.193 to S$1.236 per new unit, the CRCT manager said on Tuesday morning.
https://www.businesstimes.com.sg/companies-markets/capitaland-retail-china-trust-to-raise-at-least-s300m-for-acquisition-0

Lum family, Ellipsiz to make mandatory offer for Lum Chang at S$0.38 per share
Engineering solutions firm Ellipsiz and the family that controls construction firm Lum Chang Holdings will make an offer for the remaining 57.3 per cent of the latter’s shares at S$0.38 apiece, while keeping it listed. The mandatory conditional cash offer was triggered after Lum Chang managing director David Lum’s firm…
https://www.businesstimes.com.sg/companies-markets/lum-family-ellipsiz-to-make-mandatory-offer-for-lum-chang-at-s038-per-share-0
https://www.straitstimes.com/business/companies-markets/lum-family-ellipsiz-to-make-mandatory-offer-for-lum-chang-at-38-cents-per

LCT Holdings to delist as privatisation bid succeeds
Mainboard-listed LCT Holdings is set to delist after a successful privatisation bid by co-founder Du Junhong. The property investment company’s voluntary conditional cash offer closed on Tuesday, with the offeror Superior Partners and concert parties holding 95 per cent of total issued shares.
https://www.businesstimes.com.sg/companies-markets/lct-holdings-to-delist-as-privatisation-bid-succeeds

Views, Reviews, Forum & Others

G20 leaders must battle Covid-19 on a global scale
We may soon witness the bargain of the century. G20 leaders, representing the world’s largest economies, will discuss Covid-19 this month at a virtual summit, where they will have a chance to secure a return on investment that would make even the legendary investor Warren Buffett blush.
https://www.businesstimes.com.sg/opinion/g20-leaders-must-battle-covid-19-on-a-global-scale

Asean travel bubble could spur growth, but governments must weigh risks
The signing of the Regional Comprehensive Economic Partnership free trade deal grabbed most of the headlines at the recently concluded Asean Summit meetings in Hanoi, and understandably so. The 15 signatories of the world’s largest trade pact, including Singapore, will undergo their respective ratification processes so the accord can enter into force.
https://www.businesstimes.com.sg/opinion/asean-travel-bubble-could-spur-growth-but-governments-must-weigh-risks

Digital transformation: Is your company taking the right road?
Businesses have been actively embracing digital transformation over the past few years, pouring in billions of dollars, yet nearly 70 per cent of all initiatives aren’t reaching their goals. An IDC analysis released earlier this year estimated that of the US$1.3 trillion that organisations spent on digital transformation in 2018, more than US$900 billion went to waste.
https://www.businesstimes.com.sg/opinion/digital-transformation-is-your-company-taking-the-right-road

The path ahead for US-China ties: PM Lee
Prime Minister Lee Hsien Loong spoke about the likely impact of a Biden administration and other forces on the future course of Sino-American ties in an interview yesterday with Bloomberg News editor-in-chief John Micklethwait. Here are edited excerpts of the interview for the Bloomberg 2020 New Economy Forum.
https://www.straitstimes.com/opinion/the-path-ahead-for-us-china-ties-pm-lee-0
https://www.straitstimes.com/singapore/pm-lee-hopes-biden-will-build-constructive-ties-with-china

Singapore banks making flexi-work a permanent post-Covid feature
A growing number of Singapore banks will make flexible work arrangements a permanent fixture for staff, as they make firm strides to new ways of working in the “new normal” brought about by Covid-19. DBS was the latest lender to announce a slew of new work practices on Tuesday.
https://www.businesstimes.com.sg/banking-finance/singapore-banks-making-flexi-work-a-permanent-post-covid-feature
https://www.straitstimes.com/business/banking/dbs-to-roll-out-voluntary-job-sharing-scheme

Update on COVID-19 (Coronavirus Disease 2019) Situation

Six new Covid-19 imported cases in S’pore; no local transmission for 7th day
There were six new coronavirus cases confirmed yesterday, all of them imported. These people had been placed on stay-home notices on arrival in Singapore, said the Ministry of Health (MOH). It was the seventh day without local transmission, the longest such period since a 12-day streak from Jan 23 to Feb 3.
https://www.straitstimes.com/singapore/six-new-imported-cases-no-local-transmission-for-7th-day

Firms asked to address workers’ mental health amid pandemic
With lines between the workplace and home getting blurred during the Covid-19 pandemic, employers have been advised to address the mental health needs of their workers who are under more stress and facing a higher risk of burnout. An advisory issued yesterday called on companies to recognise the need for their staff to have adequate rest outside work hours.
https://www.straitstimes.com/singapore/jobs/firms-asked-to-address-workers-mental-health-amid-pandemic
https://www.straitstimes.com/singapore/jobs/mps-unions-hail-introduction-of-mental-health-advisory-for-workers

Singapore will not be last in queue for Covid-19 vaccine: PM
Singapore has made arrangements with multiple Covid-19 vaccine makers to ensure it “will not be last in the queue” once doses are available, said Prime Minister Lee Hsien Loong. He also observed that Asian countries have had greater success than their Western counterparts in getting their people to comply with pandemic measures, in an interview with Bloomberg News aired yesterday for its New Economy Forum.
https://www.straitstimes.com/singapore/politics/singapore-will-not-be-last-in-queue-for-covid-19-vaccine-pm

Can Covid-19 spread through frozen food or food packaging?
Following recent reports that Sars-CoV-2 – the virus responsible for Covid-19 – was found on frozen beef and tripe in China, The Straits Times looks at how frozen food and food facilities could be possible modes of transmission and the risk of contracting the virus in such a manner.
https://www.straitstimes.com/singapore/can-covid-19-spread-through-frozen-food-or-food-packaging

End-to-end safety as SIA prepares for more fliers
Self-disinfecting coatings have been applied in the toilets as well as on the handles of overhead storage compartments on Singapore Airlines (SIA) planes, as the carrier prepares to welcome more passengers on board. The airline is also working with the authorities on Covid-19 testing protocols, with more details to be announced at a later date.
https://www.straitstimes.com/singapore/transport/end-to-end-safety-as-sia-prepares-for-more-fliers
*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