DAILY NEWS

Daily News 21 September 2021 (Tue)

Top Story

MOM to extend waiver of foreign worker levies for duration of SHN
Singapore – The waiver of foreign worker levies for S Pass and work permit holders for the duration of their stay-home notice (SHN) period will be extended to the end of the year, said Manpower Minister Tan See Leng on Monday (Sept 20). Dr Tan was speaking at the Real Estate Developers’ Association of Singapore (Redas) Mid-Autumn Festival event held at Orchard Hotel Singapore.
https://www.straitstimes.com/singapore/waiver-of-foreign-worker-levies-during-shn-extended-till-end-december-mom
https://www.businesstimes.com.sg/government-economy/mom-to-extend-waiver-of-foreign-worker-levies-for-duration-of-shn
https://www.channelnewsasia.com/singapore/foreign-worker-levy-waiver-extended-stay-home-notice-2189471
https://www.zaobao.com.sg/realtime/singapore/story20210920-1195440

Companies’ Brief

CapitaLand restructuring: A look back on some IR initiatives that worked
Sept 9 marked the last trading day for CapitaLand shares. In its place, a restructured company called CapitaLand Investment began trading on Sept 20. With assets under management (AUM) of US$88 billion, this new entity is said to be the second-largest listed real estate investment manager globally after Hong Kong-listed ESR Cayman.
https://www.businesstimes.com.sg/companies-markets/capitaland-restructuring-a-look-back-on-some-ir-initiatives-that-worked

Shake-up of China’s property sector could deliver opportunities for CapitaLand
The ongoing shake-up in China’s real estate sector levels the playing field and could throw up interesting opportunities for foreign property players such as CapitaLand, said group chief executive of Lee Chee Koon. On Monday, CLI made its trading debut on the Singapore Exchange as one of the world’s largest listed real estate investment managers (REIMs) after property giant CapitaLand carved up its business into two separate entities – namely, CLI and privatised property development arm, CapitaLand Development (CLD).
https://www.businesstimes.com.sg/companies-markets/shake-up-of-chinas-property-sector-could-deliver-opportunities-for-capitaland
https://www.straitstimes.com/business/companies-markets/capitaland-investment-is-third-most-traded-stock-in-value-on-sgx-debut

Roxy-Pacific CEO intends to privatise company at S$0.485 per share
Property and hospitality group Roxy-Pacific Holdings has received a pre-conditional voluntary general offer from TKL & Family for all the issued ordinary shares in the company. The offeror is the bid vehicle of a consortium formed by 11 individuals, including the chairman and chief executive of Roxy-Pacific, Teo Hong Lim.
https://www.businesstimes.com.sg/companies-markets/roxy-pacific-ceo-intends-to-privatise-company-at-s0485-per-share

Views, Reviews, Forum & Others

Prime HDB flats: Accept the lottery effect
The Singapore government does not want housing in prime locations to be restricted only to the affluent. It seeks to avoid having racially and socioeconomically segregated neighbourhoods, which would weaken social cohesion and community bonds.
https://www.businesstimes.com.sg/opinion/prime-hdb-flats-accept-the-lottery-effect

Why Singapore is right to see potential in SPACs
Singapore’s decision to allow the listing of special purpose acquisition companies (SPACs) is a timely endorsement of a financing tool with huge potential in Asia. At a time when the format is under the spotlight – with regulators studying the model and at least one high-profile lawsuit in the US – Singapore’s move is an undeniable vote of confidence.
https://www.businesstimes.com.sg/opinion/why-singapore-is-right-to-see-potential-in-spacs

Foreign manpower: Making the global talent approach work for Singapore
Much has been said in Parliament and the media over the past week about foreign competition in the job market. Two things are clear from this important debate.
https://www.straitstimes.com/opinion/foreign-manpower-making-the-global-talent-approach-work-for-singapore

What the energy transition needs
There are encouraging signs of progress in the fight against climate change. Thousands of businesses have joined the Race to Zero campaign and countries have enhanced their nationally determined contributions (NDCs) under the 2015 Paris climate agreement.
https://www.businesstimes.com.sg/opinion/what-the-energy-transition-needs

Singapore loses Asia-Pac’s top spot on Global Innovation Index to Korea, still eighth globally
Singapore ranked second in Asia-Pacific in the Global Innovation Index (GII) 2021, losing its top spot to South Korea after holding on to the ranking for seven consecutive years. However, the city-state maintained its eighth position in global rankings. Korea joined the top five of the GII for the first time after making notable advances in innovation output, in particular global brand value and trademarks by origin.
https://www.businesstimes.com.sg/garage/singapore-loses-asia-pacs-top-spot-on-global-innovation-index-to-korea-still-eighth-globally

Update on COVID-19 (Coronavirus Disease 2019) Situation

917 new Covid-19 cases in Singapore on Monday; 2 S’poreans aged 84 and 85 die from complications
Singapore] Two men above the age of 80 have died, taking Singapore’s Covid-19 death toll to 62, the Ministry of Health (MOH) said on Monday (Sept 20). The first was an 84-year-old male Singaporean who died of complications due to Covid-19 infection on Sunday.
https://www.businesstimes.com.sg/government-economy/917-new-covid-19-cases-in-singapore-on-monday-2-sporeans-aged-84-and-85-die-from
https://www.straitstimes.com/singapore/health/917-new-covid-19-cases-in-singapore-two-singaporeans-aged-84-and-85-die-from

Tweaks to snap WFH rules for offices with Covid-19 cases
Employees able to work-from-home (WFH) must do so for 10 days if their firm has three or more positive Covid-19 cases working in the same office in seven straight days. This is down from the previously announced 14-day duration for a snap WFH regimen, in the event of one employee testing positive for Covid-19 after being in the workplace in the last seven days.
https://www.businesstimes.com.sg/government-economy/tweaks-to-snap-wfh-rules-for-offices-with-covid-19-cases
https://www.straitstimes.com/singapore/snap-work-from-home-rules-for-offices-with-covid-19-cases-cut-from-2-weeks-to-10-days

ART kits sold out at some retailers in S’pore amid spike in Covid-19 cases; stocks being replenished
Singapore – Antigen rapid test (ART) kits are in short supply in Singapore, with some pharmacies and retailers reporting that their stocks have sold out amid a spike in daily coronavirus cases.
But distributors here said there is no reason to panic buy the kits, as there is adequate stock available locally.
https://www.straitstimes.com/singapore/health/antigen-rapid-test-kits-sold-out-at-some-retailers

Testing positive for Covid-19: Where do you seek help and what kind of treatment do you need?
Singapore – Depending on how old you are and whether your home is a suitable setting for you to recover in, the Health Ministry will recommend one of four recovery settings that will be available from Thursday (Sept 23).
https://www.straitstimes.com/singapore/testing-positive-for-covid-19-where-do-you-seek-help-and-what-kind-of-treatment-do-you

Vaccinated Travel Lane scheme may be expanded soon; 1 Covid-19 case found among 900 visitors
Singapore – Vaccinated travellers from more countries are likely able to enter Singapore without having to quarantine “in the coming weeks and months”. This comes after a successful start to the Vaccinated Travel Lane (VTL), with only one Covid-19 case detected upon arrival among some 900 travellers who have come in under the scheme.
https://www.straitstimes.com/singapore/transport/vaccinated-travel-lane-scheme-to-be-expanded-soon-1-covid-19-case-detected-among

First S’pore leisure tour group to leave for Germany on Sept 22 under Vaccinated Travel Lane scheme
Singapore – The weekend after news of the vaccinated travel lane (VTL) to Germany broke on Aug 19, Mr Reuben Lim headed to tour agencies to check out packages. News of the VTL was a huge relief to the avid traveller, who used to take monthly business trips to various countries in Asia-Pacific, on top of an annual holiday with his family.
https://www.straitstimes.com/singapore/consumer/covid-19-travel-lane-with-germanyfirst-spore-leisure-tour-group-set-to-leave-on

Expert explains why a combination of Covid-19 vaccines and a mild infection can be so powerful
Singapore – Readers and viewers were intrigued when an infectious diseases expert said last week that the best protection against Covid-19 comes from getting a mild infection after being vaccinated. Getting both provides better protection against current as well as future variants – compared to just vaccination or infection alone.
https://www.straitstimes.com/singapore/health/expert-explains-why-a-combination-of-vaccines-and-a-mild-infection-can-be-so

10-15% of Covid-19 patients in S’pore likely to need hospital care once situation stabilises
Singapore – Only 10 to 15 per cent of Covid-19 patients in Singapore are expected to need hospital care when the current rise in cases has stabilised, while one in every two patients will likely recover safely at home and the remaining 30 per cent in community care facilities (CCFs).
https://www.straitstimes.com/singapore/no-more-than-15-per-cent-of-covid-19-patients-in-singapore-expected-to-need-hospital-care

101,000 doses of Sinovac Covid-19 vaccine have arrived, jabs available in a few days: Ong Ye Kung
Singapore – About 101,000 doses of the Sinovac vaccine arrived on Monday (Sept 20) in Singapore, said Health Minister Ong Ye Kung. With stocks replenished, the jabs will be available at some clinics within a few days, he added.
https://www.straitstimes.com/singapore/community/101000-doses-of-sinovac-covid-19-vaccine-have-arrived-jabs-available-in-a-few

*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