DAILY NEWS

Daily News – 21 April 2022 (Thu)

Singapore Real Estate

Six freehold Balestier Road shophouses for sale
Six freehold shophouses on Balestier Road have just come on the market in a bulk sale via expression of interest (EOI). The guide price for the units bearing the odd numbers from 505 to 515 is S$40 million.
https://www.businesstimes.com.sg/real-estate/six-freehold-balestier-road-shophouses-for-sale

Green commercial, logistics properties hold their value better in pandemic: study
Environmentally friendly properties tended to perform better during the global pandemic, with generally smaller drops in valuations when compared to buildings without green certification, an analysis by the Institute of Real Estate and Urban Studies (IREUS) found.
https://www.businesstimes.com.sg/real-estate/green-commercial-logistics-properties-hold-their-value-better-in-pandemic-study

How will shorter leases on commercial sites shape the future of work?
Workplaces are not likely to be the same ever again. With most people now accustomed to hybrid arrangements put in place over the last 2 years, the work from home (WFH) and work from anywhere culture has become more entrenched. Companies now face resistance from employees as they try to shift people back to offices.
https://www.businesstimes.com.sg/real-estate/how-will-shorter-leases-on-commercial-sites-shape-the-future-of-work-0

Five more buildings opt in on Marina Bay district cooling network
SP group’s massive underground district cooling system at Marina Bay has secured more buy-in around the central business district (CBD), with 5 upcoming developments that are either new or being retrofitted committing to tap its services.
https://www.businesstimes.com.sg/real-estate/five-more-buildings-opt-in-on-marina-bay-district-cooling-network
https://www.straitstimes.com/singapore/marina-bay-underground-cooling-network-expands-to-include-mbs-4th-tower-ns-square

Companies’ Brief

LHN eyes growth and valuations with spin-off and listing of logistics arm
Catalist-listed LHN Limited’s spin-off and listing of its logistics arm LHN Logistics would give the logistics unit resources to grow and also provide greater clarity for investors to value its property and logistics segments, said Kelvin Lim, executive chairman of both entities.
https://www.businesstimes.com.sg/companies-markets/lhn-eyes-growth-and-valuations-with-spin-off-and-listing-of-logistics-arm-0
https://www.straitstimes.com/business/companies-markets/lhn-aims-to-boost-market-value-with-logistics-listing

Keppel Reit Q1 distributable income up 4.3% to S$53.8m
Keppel real estate investment trust (Reit) posted a 4.3 per cent increase in its first-quarter distributable income from operations to S$53.8 million, from S$51.6 million a year earlier. In its Q1 business update on Wednesday (Apr 20), the Reit’s manager attributed the increase in distributable income mainly to the acquisition of Keppel Bay Tower in May last year.
https://www.businesstimes.com.sg/companies-markets/keppel-reit-q1-distributable-income-up-43-to-s538m-0

Mapletree Commercial Trust H2 DPU down 3% to S$0.0514
Mapletree Commercial Trust (MCT) on Wednesday (Apr 20) reported a 3.4 per cent decline in distribution per unit (DPU) to S$0.0514 for the half-year ended Mar 31, down from S$0.0532 a year earlier.
https://www.businesstimes.com.sg/companies-markets/mapletree-commercial-trust-h2-dpu-down-3-to-s00514

Views, Reviews, Forum and Others

Ensuring that sustainability efforts actually bear fruit
While the world celebrates the progress that a global commitment can enable with Earth Day, the United Nations’ Intergovernmental Panel on Climate Change (IPCC)’s recent report gives pause to any pat on the back. Instead of reversing environmental degradation and reviving the planet, extreme weather has accelerated – Singapore, while shielded from natural disasters, is increasingly exposed to intensifying temperatures, rainfall, and floods.
https://www.businesstimes.com.sg/opinion/ensuring-that-sustainability-efforts-actually-bear-fruit

Inflation, interest rates and the housing paradox
One of the occupational hazards of my profession is having people ask me what is going to happen to the market. I am never sure whether to give the answer attributed to various famous financial titans – it will fluctuate – or to reply, more accurately, “God knows”. But some predictions seem safe. Clearly, the Federal Reserve will raise interest rates repeatedly over the months ahead, continuing that process until there are clear signs that inflation is coming down to tolerable levels.
https://www.businesstimes.com.sg/opinion/inflation-interest-rates-and-the-housing-paradox

Retail sector on firmer path to recovery
After several stops and starts along the way, it looks like things have finally reached an inflection point for the retail sector. The easing of travel curbs through the launch of the Vaccinated Travel Framework is gradually helping to bring tourists back to Singapore, which should benefit shopping malls in areas popular with holiday-makers, such as the Orchard Road shopping belt.
https://www.businesstimes.com.sg/companies-markets/retail-sector-on-firmer-path-to-recovery
https://www.businesstimes.com.sg/companies-markets/border-reopening-is-godsend-to-singapore-retail-space-landlords

Climate change affects Asia disproportionately; S’pore facing high risks but prepared to combat it: Report
Singapore – Climate change and the transition to carbon neutrality pose both risks and opportunities for businesses and countries, noted a report produced by Tsinghua University for Singapore investment firm Temasek.
https://www.straitstimes.com/business/climate-change-affects-asia-disproportionately-spore-facing-high-risks-but-prepared-to-combat-it-report

Update on COVID-19 (Coronavirus Disease 2019) Situation

Clinical trial under way in S’pore on use of Lianhua Qingwen TCM pills for Covid-19 treatment
Singapore – A clinical trial is currently under way here to see if traditional Chinese medicine (TCM) Lianhua Qingwen Jiao Nang capsules can help in the treatment of some Covid-19 patients.
https://www.straitstimes.com/singapore/health/clinical-trial-underway-here-on-use-of-lianhua-qingwen-tcm-pill-for-covid-19-treatment

*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