DAILY NEWS

Daily News – 19 August 2021 (Thu)

Singapore Real Estate

Two shophouses in Bugis for sale by tender
A freehold corner shophouse at 17 Jalan Klapa and a 999-year tenure conservation shophouse at 14 Purvis Street are up for sale by tender with guide prices of S$12.3 million and S$29 million, respectively. According to the Urban Redevelopment Authority’s (URA) Master Plan 2019, 17 Jalan Klapa is fully zoned for commercial use while 14 Purvis Street is zoned for hotel use. Both locals and foreigners are eligible to purchase either property at no additional buyer’s stamp duty.
https://www.businesstimes.com.sg/real-estate/two-shophouses-in-bugis-for-sale-by-tender

PropNex, ERA dominate in HDB resale and leasing transactions
Property agents from PropNex Realty and ERA Realty Network have brokered about 70 per cent of resale transactions of Housing and Development Board (HDB) flats every year since 2017. In the residential leasing segment, both agencies – Singapore’s largest two based on the number of salespersons – likewise accounted for the bulk of the deals, going by data from the Council for Estate Agencies (CEA).
https://www.businesstimes.com.sg/real-estate/propnex-era-dominate-in-hdb-resale-and-leasing-transactions

Two HDB projects win global awards for excellent land use
The Housing Board has won two of the nine top awards given out by the non-profit Urban Land Institute for excellent land use. Two HDB projects – Kampung Admiralty and Punggol town – received the institute’s highest accolade, the Global Award for Excellence, for 2021.
https://www.straitstimes.com/singapore/housing/two-hdb-projects-win-global-awards-for-excellent-land-use

Land availability sound metric for classifying HDB estates: Experts
The classification of Housing Board towns into mature and non-mature estates based on the availability of land, instead of the age of existing flats, is a sound metric that is commonly used in urban planning, said analysts.
https://www.straitstimes.com/singapore/housing/land-availability-sound-metric-for-classifying-hdb-estates-experts

Is a wealth tax on property values justified?
The chatter on wealth taxes has been increasing in intensity over the past year. The reason propounded for an implementation is to promote an inclusive society by finding additional sources of government revenue to fund various altruistic schemes.
https://www.businesstimes.com.sg/real-estate/is-a-wealth-tax-on-property-values-justified

Companies’ Brief

Tuan Sing bags S$56m tender for freehold site at Dunearn Road
Mainboard-listed Tuan Sing Holdings has secured a tender for a prime freehold site at Dunearn Road for S$56 million. The 1,592.4 square-metre property is located next to and shares the same boundary as Link@896, a mixed-use office and retail building which the group acquired in 2017, it said in a bourse filing on Wednesday night.
https://www.businesstimes.com.sg/companies-markets/tuan-sing-bags-s56m-tender-for-freehold-site-at-dunearn-road

Views, Reviews, Forum & Others

Limits to the benefits of pivoting to endemic Covid-19 in S’pore
With more than 70 per cent of its population fully vaccinated, Singapore has the confidence to pivot to treating Covid-19 as an endemic disease, like influenza, chickenpox and HIV. This means the coronavirus will circulate more freely within the community and may even be imported.
https://www.straitstimes.com/opinion/limits-to-the-benefits-of-pivoting-to-endemic-covid-19

S’pore’s social policies: New normal or still an exceptional system?
Public policy announcements are always in the news – a new scheme here, an enhancement there. Few, however, pause to reflect on what these add up to. Occasionally, the Government may string together a narrative for a major speech such as during the Budget debate or Committee of Supply, but the message is often lost among the policy details.
https://www.straitstimes.com/opinion/spores-social-policies-new-normal-or-still-an-exceptional-system

Singapore seeks to tame chaotic voluntary carbon market, build confidence
Singapore’s carbon market, expected to launch by the end of 2021, could potentially play a vital role in overhauling the voluntary carbon market, which is fragmented and often criticised for not being robust enough to meet what is a lofty goal – to cap the world’s CO2 emissions
https://www.businesstimes.com.sg/opinion/singapore-seeks-to-tame-chaotic-voluntary-carbon-market-build-confidence

Digital Masterplan: Getting the next five years right for Asean
Asean’s importance is often overlooked due to misconceptions about its capabilities. To paraphrase Singapore’s former ambassador-at-large Bilahari Kausikan, there is a tendency for observers to accuse this cow of being an imperfect horse.
https://www.businesstimes.com.sg/opinion/digital-masterplan-getting-the-next-five-years-right-for-asean

Firms in S’pore restore wages after pay cuts and freezes last year
Singapore – Firms across industries such as transport, aviation and telecommunications are restoring wages after pay cuts and freezes were imposed to help cut costs during the pandemic last year. These companies range from Temasek to UOB and Changi Airport Group.
https://www.straitstimes.com/singapore/jobs/firms-in-spore-restore-wages-after-pay-cuts-and-freezes-last-year

Salary increments here to recover in 2021, 2022: recruitment firms
After a lean 2020, employees in Singapore may expect salary increments to start approaching pre-Covid rates this year and next – while those in high demand could net raises of 20 per cent or more when switching employers, said recruitment firms.
https://www.businesstimes.com.sg/government-economy/salary-increments-here-to-recover-in-2021-2022-recruitment-firms

Singapore unicorn Pine Labs allegedly hit by ransomware; bank clients may be impacted
Temasek-backed payments platform Pine Labs might have become the latest victim of the recent global ransomware crisis, after information published on a hacker’s website suggested the company’s data has been stolen and held hostage.
https://www.businesstimes.com.sg/garage/singapore-unicorn-pine-labs-allegedly-hit-by-ransomware-bank-clients-may-be-impacted

Update on COVID-19 (Coronavirus Disease 2019) Situation

Unvaccinated 64-year-old Singaporean male dies from Covid-19 complications
[Singapore] An unvaccinated 64-year-old man died on Monday (Aug 16) due to Covid-19 infection, the Ministry of Health (MOH) announced on Wednesday. The Singaporean had developed a cough on Aug 2 and was taken to Raffles Hospital the next day after suffering from heart problems.
https://www.businesstimes.com.sg/government-economy/unvaccinated-64-year-old-singaporean-male-dies-from-covid-19-complications
https://www.straitstimes.com/singapore/community/64-year-old-unvaccinated-sporean-man-dies-from-covid-19

Those jabbed less likely to end up in ICU
Singapore saw the first death of a fully vaccinated person on Tuesday from Covid-19 complications – a 90-year-old man with a history of other health issues. Some patients who are fully vaccinated have also landed in the intensive care unit (ICU). This has led some to ask: What is the point of vaccines if they do not guarantee that people will not get seriously ill with Covid-19?
https://www.straitstimes.com/singapore/health/those-jabbed-less-likely-to-end-up-in-icu-coronavirus-singapore

Short-term pass holders eligible for free vaccine shots
Short-term pass holders who have been in Singapore for an extended period of time can now receive their free Covid-19 vaccination under the country’s vaccination programme. Those eligible are short-term work pass and special pass holders, such as those on training employment passes, training work permits and work holiday passes.
https://www.straitstimes.com/singapore/community/short-term-pass-holders-eligible-for-free-vaccine-shots

Booster jab targeting Sars virus may neutralise Covid-19 variants
Scientists here have found that people who have recovered from Sars (severe acute respiratory syndrome) in 2003 and who received the Pfizer-BioNTech vaccine are able to produce antibodies to neutralise all known Covid-19 variants of concern.
https://www.straitstimes.com/singapore/booster-jab-targeting-sars-virus-may-neutralise-covid-19-variants

S’pore to keep eye on cases as it works to reopen borders: Gan
As Singapore works to reopen its borders for business and leisure travel, it expects the number of Covid-19 infections to rise, said Trade and Industry Minister Gan Kim Yong yesterday. The country will keep a close eye on the situation to ensure that healthcare facilities are not overwhelmed, he added.
https://www.straitstimes.com/singapore/health/spore-to-keep-eye-on-cases-as-it-works-to-reopen-borders-gan

Singapore eases curbs, with more allowed back in office
Singapore eased more Covid-19 restrictions today, giving companies the green light to bring more staff back to the office and doubling capacity limits for events with fully vaccinated attendees. Even so, most employers – including Singapore’s largest, the Government – expect hybrid working arrangements to be a permanent feature of the post-pandemic world.
https://www.straitstimes.com/singapore/health/singapore-eases-curbs-with-more-allowed-back-in-office

*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