DAILY NEWS

Daily News – 22 Mar 2022 (Tue)

Singapore Real Estate

High Point back on the market after HK-listed buyer pulled out of deal
Freehold condominium High Point is taking another shot at a collective sale with a reserve price of S$550 million after Hong Konglisted developer Shun Tak Holdings called off the en bloc deal in December.
https://www.businesstimes.com.sg/real-estate/high-point-back-on-the-market-after-hk-listed-buyer-pulled-out-of-deal
https://www.straitstimes.com/business/property/high-point-condo-relaunched-for-en-bloc-sale-at-550m-after-shun-tak-aborted-deal

Can good times roll on for big property agencies?
Singapore’s housing market prospered through the Covid-19 pandemic. As at Q4 2021, the Urban Redevelopment Authority’s private home price index and the HDB Resale Price Index rose by 13 per cent and 18 per cent respectively versus Q4 2019.
https://www.businesstimes.com.sg/real-estate/can-good-times-roll-on-for-big-property-agencies

Lakeside Apartments to go up for collective sale again at S$240m
Lakeside Apartments at 9E, 9F Yuan Ching Road will be put up for collective sale again on Mar 22 at a reserve price of S$240 million, marketing agent PropNex Realty said on Monday (Mar 21).
https://www.businesstimes.com.sg/real-estate/lakeside-apartments-to-go-up-for-collective-sale-again-at-s240m-0
https://www.straitstimes.com/business/property/lakeside-apartments-up-for-collective-sale-again-at-240-million

Singapore Economy

Singapore’s Q2 net employment outlook strongest in a decade but lower than global average: survey
Singapore’s net employment outlook has improved to its strongest level in a decade, with growth expected in most industries except restaurants and hotels, according to a survey by recruiter ManpowerGroup Singapore on Tuesday (Mar 21).
https://www.businesstimes.com.sg/government-economy/singapores-q2-net-employment-outlook-strongest-in-a-decade-but-lower-than-global
https://www.straitstimes.com/singapore/jobs/hiring-outlook-most-favourable-in-almost-11-years-survey

Companies’ Brief

Tuan Sing, Mitsubishi Estate to develop first phase of Indonesia mall for S$90m
Real estate-focused investment holding company Tuan Sing Holdings has partnered Japan’s Mitsubishi Estate to develop the first phase of a luxury outlet mall in Karawang, Indonesia for an initial S$90 million.
https://www.businesstimes.com.sg/asean-business/tuan-sing-mitsubishi-estate-to-develop-first-phase-of-indonesia-mall-for-s90m
https://www.straitstimes.com/business/companies-markets/tuan-sing-mitsubishi-estate-to-develop-first-phase-of-indonesia-mall-for-90m

ESR-Reit, ALog Trust investors say ‘aye’ to union
The managers of ESR-Reit and ARA Logos Logistics Trust (ALog Trust) must be heaving huge sighs of relief. After a series of speed bumps, the managers of the 2 real estate investment trusts (Reits) have finally received approval from their respective unitholders to go ahead with the merger to form ESR-Logos Reit (E-Log Reit).
https://www.businesstimes.com.sg/companies-markets/esr-reit-alog-trust-investors-say-aye-to-union
https://www.straitstimes.com/business/companies-markets/esr-reit-alog-trust-unitholders-vote-in-favour-of-merger-to-form-esr-logos-reit

Views, Reviews, Forum and Others

Greenback still holding sway amid geopolitical tensions
The position of the US dollar’s status as the world’s reserve currency is again under scrutiny after the freezing of Russia’s central bank reserves earlier this month. Is this going to be an inflexion point, even if the asset freeze was done not by the US alone but in concert with Europe, Canada, Britain and Japan? And how did we get here?
https://www.businesstimes.com.sg/opinion/greenback-still-holding-sway-amid-geopolitical-tensions-0

Hotels to start tracking carbon emissions in 2023, aim to have net-zero emissions by 2050
Hotels in Singapore have aimed to start tracking their carbon emissions by next year and achieve net-zero emissions by 2050, as part of targets set out in a sustainability road map launched by the Singapore Hotel Association (SHA) and the Singapore Tourism Board (STB) on Monday (Mar 21).
https://www.businesstimes.com.sg/real-estate/hotels-to-start-tracking-carbon-emissions-in-2023-aim-to-have-net-zero-emissions-by-2050

Singapore dollar set to beat peers with MAS likely to tighten policy in April
Singapore (Bloomberg) – The Singapore dollar looks set to move up the regional currency rankings in the next quarter, with rising core inflation expected to spur further policy tightening from the Republic’s central bank in April.
https://www.straitstimes.com/business/economy/singapore-dollar-set-to-beat-peers-with-mas-likely-to-tighten-in-april

Update on COVID-19 (Coronavirus Disease 2019) Situation

Daily Covid-19 cases in Singapore continue on downward trend, 7,538 new infections
[Singapore] New daily Covid-19 cases in Singapore continued on a downward trend on Monday (Mar 21), with 7,538 new infections, down from 7,859 on Sunday. The Covid-19 weekly infection growth rate remained below one for the 20th consecutive day at 0.72, up from 0.71 the day before.
https://www.businesstimes.com.sg/government-economy/daily-covid-19-cases-in-singapore-continue-on-downward-trend-7538-new-infections
https://www.straitstimes.com/singapore/daily-cases-continue-on-downward-trend-with-7538-new-covid-19-infections-on-monday

More Covid-19 vaccination centres in S’pore closing in next few weeks; experts say move is timely
Singapore – Ten vaccination centres have closed and more will be closing in the next few weeks. Checks by The Straits Times show that 30 vaccination centres are currently operating, down from 40 in June last year.
https://www.straitstimes.com/singapore/health/more-vaccination-centres-closing-in-next-few-weeks-experts-say-move-is-timely

Covid-19 vaccination channels for overseas Singaporeans to be suspended
Singapore – Vaccination channels for overseas Singaporeans will be suspended and those who have registered for the vaccination but have yet to return to Singapore must do so by March 31.
https://www.straitstimes.com/singapore/health/vaccination-channels-for-overseas-singaporeans-to-be-suspended

*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