DAILY NEWS

Daily News – 21 April 2020 (Tue)

Singapore Real Estate

E-commerce help for retail SMEs
Hobbled by Singapore’s “circuit breaker” measures forcing them to shutter physical stores, small and mid-sized enterprises (SMEs) in the retail sector are having to rely on online channels for sales, some of them for the first time in their history.
https://www.businesstimes.com.sg/sme/e-commerce-help-for-retail-smes

Singapore Economy

MAS’ near-zero cost funding to banks will halve borrowing rates for SMEs
Singapore banks will just about halve the interest rates to small- and medium-sized enterprises (SMEs) on the latest tranches of government-assisted loans, as the central bank stepped in for the first time ever to directly offer funding at near-zero cost to financial institutions amid the virus outbreak
https://www.businesstimes.com.sg/government-economy/mas-near-zero-cost-funding-to-banks-will-halve-borrowing-rates-for-smes
https://www.straitstimes.com/business/companies-markets/near-zero-rate-helps-banks-reduce-cost-of-loans-to-smes

Companies’ Brief

Ascott offers lodging to healthcare staff, communities affected by virus outbreak
CapitaLand’s wholly-owned lodging business unit, The Ascott, is providing accommodation for healthcare workers, returning nationals, guests affected by border closures or city lockdowns, migrant workers and others around the world who have been stranded due to the coronavirus pandemic.
https://www.businesstimes.com.sg/real-estate/ascott-offers-lodging-to-healthcare-staff-communities-affected-by-virus-outbreak
https://www.straitstimes.com/business/companies-markets/ascott-houses-healthcare-staff-in-singapore-china-france-amid-coronavirus

Centurion allows early lease termination for UK students, expects up to £5m revenue loss
Housing operator Centurion Corp on Monday said it will allow those residing at its UK student accommodation the option to terminate their remaining lease early. The move comes as the UK government has put in place a nationwide lockdown to contain the spread of the novel coronavirus.
https://www.businesstimes.com.sg/companies-markets/centurion-allows-early-lease-termination-for-uk-students-expects-up-to-%C2%A35m-revenue
https://www.straitstimes.com/business/companies-markets/singapore-stock-watch-st-engineering-keppel-infra-trust-jardine-cc

Keppel Infrastructure Trust declares stable 0.93 Singapore cent DPU for Q1
Keppel Infrastructure Trust (KIT) on Monday declared a distribution per unit (DPU) of 0.93 Singapore cent for the first quarter ended March 31, stable from the same period a year ago. Distributable cash flow for the quarter was S$51.1 million, up 5.6 per cent from the year-ago period, supported by the trust’s “highly defensive portfolio of businesses and assets” that provide essential products and services, said KIT. The trust’s major segments are distribution and network, energy, and waste and water.
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-declares-stable-093-singapore-cent-dpu-for-q1
https://www.straitstimes.com/business/companies-markets/singapore-stock-watch-st-engineering-keppel-infra-trust-jardine-cc

Valuation of Sing Holdings’ Melbourne hotel could take a hit from Covid-19
The auditor of Sing Holdings’ trusts in Australia has flagged that the valuation of hotel Travelodge Docklands in Melbourne might have “materially changed” by the date of its report. This was due to the impact of the Covid-19 pandemic on demand for travel and accommodation services in Australia, the mainboard-listed property development and investment group disclosed in a regulatory filing on Sunday.
https://www.businesstimes.com.sg/companies-markets/valuation-of-sing-holdings-melbourne-hotel-could-take-a-hit-from-covid-19

EH-Reit manager, trustee ordered to protect unitholders; regulators studying possible breaches
The Monetary Authority of Singapore (MAS) has ordered the manager and the trustee of Eagle Hospitality Real Estate Investment Trust (EH-Reit) to take steps to protect the rights and interests of EH-Reit’s unitholders.
https://www.businesstimes.com.sg/companies-markets/eh-reit-manager-trustee-ordered-to-protect-unitholders-regulators-studying
https://www.straitstimes.com/business/companies-markets/mas-sgx-to-safeguard-interests-of-eh-reits-unit-holders

Do Reit managers have as much stake as unitholders?
Although many of the most highly geared S-Reits perked up last Friday after new rules were introduced to give them more debt headroom and the option to defer 2020 dividends by a whole year, some market watchers chose to fade the rally.
https://www.businesstimes.com.sg/companies-markets/do-reit-managers-have-as-much-stake-as-unitholders

Views, Reviews, Forum & Others

The imperative of fighting climate change remains
With the Covid-19 pandemic rightfully dominating global news feeds and being foremost on everyone’s minds, it is important that we keep talking about mitigating the effects of climate change. What has often been overlooked is that while the climate change debate is pretty much over in most parts of the world, when it comes to actually taking steps to radically change our carbon footprint or to devote considerable resources to mitigate climate change, there remains considerable pushback.
https://www.businesstimes.com.sg/opinion/the-imperative-of-fighting-climate-change-remains

Update on COVID-19 (Coronavirus Disease 2019) situation

Singapore reports 1,426 new Covid-19 infections; three new clusters
Three new coronavirus clusters have been announced by the Ministry of Health (MOH) on Monday, which saw 1,426 new cases, concentrated mostly among foreign workers living in dormitories. One of the clusters is linked to Jurong Apartments, the second to Woodlands Lodge II and the third to 8 Sungei Kadut Loop.
https://www.businesstimes.com.sg/government-economy/singapore-reports-1426-new-covid-19-infections-three-new-clusters
https://www.straitstimes.com/singapore/health/1426-new-coronavirus-cases-bringing-spores-total-to-8014

Coronavirus: Next few days key to whether circuit breaker can be eased, say experts
The next few days are a critical period that will determine whether the circuit breaker measures can be eased by May 4, infectious diseases experts said yesterday. Today marks 14 days since the measures, meant to stem the spread of coronavirus infection, came into effect here.
https://www.straitstimes.com/singapore/health/next-few-days-key-to-whether-circuit-breaker-can-be-eased-experts

Coronavirus: Four condo residents and Amber Road condo fined for violations
The management corporation (MCST) of an Amber Road condominium estate and one of its residents were fined for breaching safe distancing rules, the Building and Construction Authority (BCA) said yesterday. The BCA, which has conducted checks on more than 230 strata-titled residential developments since enhanced safe distancing measures took effect on April 7…
https://www.straitstimes.com/singapore/four-condo-residents-and-amber-road-condo-fined-for-violations
https://www.channelnewsasia.com/news/singapore/residents-condominiums-amber-road-fined-covid-19-bca-12658112
*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