DAILY NEWS

Daily News 22 June 2021 (Tue)

Singapore Real Estate

Grade A CBD office rents up in Q2 after five quarters of decline: JLL
Amid an improvement in business confidence, Singapore’s Grade A CBD office rentals posted their first uptick after five consecutive quarter-on-quarter drops since the Covid-19 outbreak began, going by preliminary data from JLL.
https://www.businesstimes.com.sg/real-estate/grade-a-cbd-office-rents-up-in-q2-after-five-quarters-of-decline-jll-0

Singapore needs land that can be easily converted to other uses: Desmond Lee
It is important for Singapore to be adaptable in its city planning and to maintain a liveable and connected environment, as seen from the Covid-19 pandemic. The government will start engaging the public in July on the Republic’s long-term development plans, Minister for National Development Desmond Lee said on Monday.
https://www.businesstimes.com.sg/real-estate/singapore-needs-land-that-can-be-easily-converted-to-other-uses-desmond-lee
https://www.straitstimes.com/singapore/spore-needs-to-relook-how-land-is-used-desmond-lee
https://www.straitstimes.com/singapore/spore-to-relook-long-term-approach-to-land-use-planning-engagement-for-review-to-start

Post-pandemic, will heartland malls stay resilient?
Tampines Mall in Tampines and Junction 8 in Bishan are among Singapore’s most prominent heartland malls. The duo were part of the portfolio of Singapore’s first real estate investment trust (Reit) CapitaMall Trust, when it listed in 2002.
https://www.businesstimes.com.sg/real-estate/post-pandemic-will-heartland-malls-stay-resilient

Bigger homes, co-working spaces in public libraries among ideas for new urban normal
There is room to explore whether current residential unit configurations and sizes are suitable for the home to be a refuge in times of crisis, or conducive for new living and working patterns, the Centre for Liveable Cities (CLC) said.
https://www.businesstimes.com.sg/real-estate/bigger-homes-co-working-spaces-in-public-libraries-among-ideas-for-new-urban-normal

Singapore Economy

Learn from and build on response to disruptions: DPM
Expect disruptions, but treat each disruption as a different crisis, even if they may look the same. That was Deputy Prime Minister Heng Swee Keat’s takeaway on what cities can do to recover from a disruptive event such as the Covid-19 pandemic.
https://www.businesstimes.com.sg/government-economy/learn-from-and-build-on-response-to-disruptions-dpm
https://www.straitstimes.com/singapore/politics/dpm-pandemic-provides-rare-opportunity-to-reinvent-cities

Call for creation of national unit for infrastructure sector
Creating a national infrastructure development unit to drive the development of the infrastructure sector at home as well as to facilitate its growth overseas is one of the key recommendations to help the sector overcome inherent challenges, according to a report.
https://www.businesstimes.com.sg/government-economy/call-for-creation-of-national-unit-for-infrastructure-sector

Sustainable infrastructure can also boost resilience, reduce inequality: Indranee
Cities need to build infrastructure not only to withstand climate change and pandemics, but also to reduce inequality and strengthen society’s resilience, said Minister in the Prime Minister’s Office Indranee Rajah. This is because it is the more vulnerable who often bear the brunt of disruptions, she said.
https://www.straitstimes.com/singapore/politics/sustainable-infrastructure-can-also-boost-resilience-reduce-inequality-indranee

Companies’ Brief

Netherlands asset manager NN Investment Partners to set up responsible investing hub in Singapore
NN Investment Partners, an asset manager from Netherlands, will be establishing a responsible investing hub in Singapore – its first outside its home country. At the same time, the asset manager intends to further develop its product offerings in ESG-integrated (environment, social and governance) solutions in Asia…
https://www.businesstimes.com.sg/banking-finance/netherlands-asset-manager-nn-investment-partners-to-set-up-responsible-investing-hub

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1402

Views, Reviews, Forum & Others

The EU and Asean are natural partners with a visionary agenda
My recent visit to Jakarta and Asean underlined the European Union’s (EU) commitment to the Indo-Pacific region, and it reconfirmed a clear demand in the region for more cooperation and EU presence. All my interlocutors stressed that they want to shape a broad common agenda for cooperation:
https://www.businesstimes.com.sg/opinion/the-eu-and-asean-are-natural-partners-with-a-visionary-agenda

Opportunity for corporate restructuring amid pandemic
While the Covid-19 pandemic has hit many businesses hard, the crisis can be an opportunity for companies on unsteady financial ground to turn things around by taking early and swift action to effect a successful restructuring.
https://www.businesstimes.com.sg/opinion/opportunity-for-corporate-restructuring-amid-pandemic

Asia’s cities don’t have to break the bank to plan for a green recovery post-pandemic
Asia’s mayors face a dilemma: how do they curb the effects of climate change on their cities while dealing with a drop in municipal revenues due to the economic impacts of Covid-19? The answer lies in the private sector.
https://www.businesstimes.com.sg/opinion/asias-cities-dont-have-to-break-the-bank-to-plan-for-a-green-recovery-post-pandemic

A look at investing styles: How to pick stocks for growth, value and yield
If you have signed up for your first brokerage account, congratulations. Your next question might be: What exactly should I buy first? It can be a confusing choice, with many different options in the market, so let us start with the basics.
https://www.businesstimes.com.sg/hub/invest-grow/a-look-at-investing-styles-how-to-pick-stocks-for-growth-value-and-yield

Update on COVID-19 (Coronavirus Disease 2019) Situation

44-year-old man dies from Covid-19 complications; 16 new cases, 3 unlinked
A 44-year-old male permanent resident has died from complications due to Covid-19 infection on Sunday, the Ministry of Health (MOH) said on Monday. The man was admitted to Alexandra Hospital on May 25, and was confirmed to have Covid-19 infection the next day.
https://www.businesstimes.com.sg/government-economy/44-year-old-man-dies-from-covid-19-complications-16-new-cases-3-unlinked
https://www.straitstimes.com/singapore/man-with-history-of-diabetes-dies-from-covid-19-complications

S’porean newly-wed tests positive on return after visiting hubby in Russia
A 33-year-old newly-wed found herself among a recent group of imported cases of Covid-19, after returning to Singapore from a three-week trip to Moscow to visit her Russian husband and in-laws. The Singaporean, who wanted to be known only as Ms N…
https://www.straitstimes.com/singapore/health/sporean-newly-wed-tests-positive-on-return-after-visiting-hubby-in-russia

Residents of 7 blocks in Redhill taking tests; viral fragments in wastewater
Residents living in seven Housing Board blocks in Redhill Lane and Redhill Close will have to undergo mandatory Covid-19 testing after viral fragments were detected in wastewater samples collected from some blocks.
https://www.straitstimes.com/singapore/health/residents-of-7-blocks-in-redhill-taking-tests-viral-fragments-in-wastewater

No large crowds as dining in resumes with two-person limit
There were no big crowds at hawker centres and coffee shops yesterday when dining in resumed with a group size limit of two. But diners The Straits Times spoke to said they were glad that the restrictions imposed since May 16 to stem a rise in the number of Covid-19 community cases have been lifted.
https://www.straitstimes.com/singapore/no-large-crowds-as-dining-in-resumes-with-two-person-limit

Restaurants fill up slowly with no surge in bookings, unlike post-circuit breaker
With the resumption of dining in for up to two people per table yesterday, restaurants are slowly filling up as bookings trickle in for the week ahead. One-Michelin-starred Restaurant Labyrinth at Esplanade Mall, which reopens today after closing for a month…
https://www.straitstimes.com/singapore/restaurants-fill-up-slowly-with-no-surge-in-bookings-unlike-post-circuit-breaker

Eateries, gyms welcome back customers with easing of curbs
Singapore took another cautious step towards normalcy yesterday, relaxing more restrictions while ensuring there were enough measures in place to keep Covid-19 infections in check. Hawker centres filled up quickly, with dining in allowed for the first time since May 16
https://www.straitstimes.com/singapore/eateries-gyms-welcome-back-customers-with-easing-of-curbs

Quick test centres open in Yishun, Tekka for self-administered swabs
Mandatory Covid-19 swab tests at Singapore’s first two quick test centres (QTCs) started yesterday afternoon, with a small number of people, mainly hawkers, getting tested. Those who were swabbed told The Straits Times that the tests – which were self-administered with QTC personnel present to offer assistance – were quick and painless.
https://www.straitstimes.com/singapore/health/quick-test-centres-open-in-yishun-tekka-for-self-administered-swabs

*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