The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 18, 19 & 20 Apr (Sat, Sun & Mon)


Singapore Real Estate

Sias urges Reits to continue with payouts if cash flows permit
The Covid-19 pandemic is affecting all businesses, including Reits. The circuit breaker implemented on April 7 has made revenue generation a challenge for almost all sectors of the economy. This is severely impacting the revenues of tenants of the Reits, which in turn negatively impacts the revenues of the Reits.

Reits rally but dividend cuts not fully baked in, analysts say
Singapore real estate investment trusts (Reits) staged a relief rally on Friday after new rules were introduced to give them more flexibility to deal with potential cashflow constraints arising from rent collection problems amid the Covid-19 outbreak.

Co-working spaces thrive in HK, struggle in Singapore shutdown
It is a different story in Singapore, where a government-ordered shutdown of all but essential services means most workers have to stay home, with employers facing hefty fines or even jail if they do not enforce the measures.


Singapore Economy

March exports surge 17.6% but economists see more gloom ahead
Singapore’s exports grew by a surprising 17.6 per cent in March, defying the odds of a coronavirus-led slowdown, but economists believe this good showing is unlikely to continue into April and beyond. The jump in March’s non-oil domestic exports (NODX) has dramatically exceeded private-sector economists’ expectations. They had predicted a contraction of 8 per cent, according to a Bloomberg poll.

Singapore, 12 other countries commit to maintaining links
Foreign ministers from 13 countries, including Singapore, have committed to maintaining global links, such as transport and supply chain connections, to minimise disruption and speed up recovery from the coronavirus pandemic. 

Virus sends Changi passenger numbers down 70% in March
Changi Airport reported a drop of 70.7 per cent in passenger numbers last month from a year ago, as the coronavirus pandemic continued to pummel global aviation. The airport handled just 1.65 million passengers in March, compared with 5.63 million in the corresponding month last year.


Companies’ Brief

Keppel Capital secures new $299m for fund
The asset management arm of Keppel Corp has announced new capital commitments of US$210 million (S$299 million) for its Keppel Asia Infrastructure Fund. Keppel Capital said yesterday that the second closing of its fund has secured commitments of US$60 million.


Views, Reviews, Forum & Others

No let-up in doing good
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)

Not necessarily so. It is often in times of crisis that people realise that we are all connected and draw closer together to look out for the needs of one another and our community. It is precisely during times of exceptional hardship that companies which continue to practise good CSR will reveal their altruistic core values.

Asean green bond and loan issuance doubles to US$7.8b in 2019: report
The volume of green bonds and loans issued in Asean almost doubled between 2018 and 2019, in tandem with global trends, according to a report by Climate Bonds Initiative (CBI). Asean issuance grew to US$7.8 billion in 2019, up from US$4.1 billion in 2018, thanks to new regulations and guidelines, said CBI, which is supported by HSBC, in its Asean Green Finance State of the Market 2019 report.

Post-pandemic future ‘will be globalisation with localisation’
A group of 165 current and former global leaders, including Singapore’s former foreign minister George Yeo, recently signed off on an open letter to the Group of 20 (G20) leaders. Among other things, they are calling for the setting up of a task force and an immediate global pledging conference to approve and coordinate a multi-billion-dollar fund to fight the coronavirus pandemic.

Tips on planning business continuity
Identify the minimum amount of products or services you need to provide for your organisation to survive. Based on this, set your business continuity objectives and decide on the priority activities or critical business functions that you need to continue with to support the provision of those products or services.


Singapore Budget 2020

Drop in tax collections likely to impact govt revenue: Analysts
Tax revenue, especially from the corporate sector, is likely to plunge this year amid the severe downturn stemming from the coronavirus pandemic, say analysts. The Government’s original projected operating revenue of $76 billion for this financial year has dropped to $70.4 billion after estimates were revised last month.


Update on COVID-19 (Coronavirus Disease 2019) situation

Five new Covid-19 clusters in Singapore; 596 new cases bring country’s total to 6,588
Five new clusters of the coronavirus were reported in Singapore on Sunday, as another 596 cases were confirmed with hundreds related to foreign worker dormitories. The new clusters are Woodlands Lodge I, Changi Lodge II, 51 Paya Ubi Industrial Park, 17 Jalan Besut and Sembawang Shipyard.

180k foreign workers, dependants to stay home from today
Around 180,000 foreign workers in the construction industry and their dependants will be on stay-home notices starting today, as the number of coronavirus infections continues to rise. The notices apply mostly to work permit and S Pass holders currently not staying in dormitories, as well as their dependants.

Next few days critical in fight against Covid-19: PM Lee
The next few days will be critical in Singapore’s fight against the coronavirus, said Prime Minister Lee Hsien Loong yesterday, as the number of new cases hit a daily high of 942, and new restrictions were announced on foreign workers in construction. Twelve days into the circuit breaker, there are a few early signs that measures to reduce physical interaction among people are bringing cases down in the broader community, he said.

Coronavirus: Reduced frequency of trains leads to crowding on some
Reports of crowded trains on the first day of lower service frequency have prompted Transport Minister Khaw Boon Wan to ask for a review of service reductions which kicked in last week. Mr Khaw wrote on his Facebook page yesterday that the service adjustments had “caused some crowding in some stretches” of the North-South, East-West and Circle lines on Friday – the first day when train service frequency was pared down to reflect the 70 per cent to 75 per cent drop in ridership.

Resident at one of First Reit’s nursing homes tests positive for Covid-19
The manager of First Reit on Friday announced a Covid-19 case at one of its nursing homes involving an 89-year-old resident. She tested positive for the virus on April 15 and has since been in isolation at Ng Teng Fong General Hospital.

Ads for S$5,500 temp jobs at Expo isolation facility are fake: Mindef, MOH
A handful of online recruitment posts have surfaced since last week, seeking individuals to work at the Singapore Expo community isolation facility as well as foreign worker dormitories during the novel coronavirus pandemic.

Surge in coronavirus infections strains healthcare system
Singapore will have to change the way it manages Covid-19 patients as the surging numbers are starting to stretch the capacity of the healthcare system, say experts. What is more, the number of foreign workers infected is expected to stay high, at least for some days, said Associate Professor Hsu Li Yang of the NUS Saw Swee Hock School of Public Health.

Coronavirus: SGH doctors come up with safer, quicker ways for large-scale testing
A transparent and safer booth system has been deployed at 11 foreign worker dormitories as of yesterday, where large-scale coronavirus testing is being conducted. Developed by a team of Singapore General Hospital (SGH) doctors, the system makes it less nerve-racking and tedious for healthcare workers to perform the high-risk coronavirus swab tests.

Police, public agencies debunk viral falsehoods
A Facebook post that alleged the police had fined a delivery rider $300 for wearing a piece of cloth as a mask is false. Officers were in fact helping the rider, the Government said as it invoked the fake news law against The Temasek Review, which perpetuated the falsehood along with a picture of a masked delivery rider and police officer. 

Iras taxpayer counter services to close till May 4
The Inland Revenue Authority of Singapore (Iras) will temporarily close its e-Filing Service Centre and Taxpayer and Business Service Centre at Revenue House from today until May 4. The closure is meant to encourage taxpayers to remain at home in line with the Government’s enhanced measures during the circuit breaker period, Iras said last Saturday.
*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

ARA H-Trust shutters two-thirds of hotels, slashes workforce, cuts pay amid pandemic 

How much can Airbnb damage the mortgage market?

Federal Reserve staff rip up script as officials go dark ahead of meeting

Moody’s may cut ratings on US$22b of loan obligations

Guardians of global economy come up short in virus battle 

Once safer than gold, Canadian real estate now facing its acid test

ECB is flexible and could do more if needed: officials 

Warmest oceans on record could set off a year of extreme weather 

China home-buying curbs set to stay despite nascent rally 

China will not be able to bail out Asia this time

China Q1 GDP records historic contraction of 6.8% 

Japan’s March exports fall 11.7% y-o-y: MOF 

Japan stimulus package boosted to 117.1t yen due to cash payouts: draft


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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