DAILY NEWS

Daily News – 22 July 2021 (Thu)

Singapore Real Estate

Two office floors at Springleaf Tower up for sale
Two office floors – levels eight and nine – at Springleaf Tower have been put up for sale with a guide price of S$2,500 per square foot on strata area, said exclusive marketing agent CBRE on Wednesday. With a strata floor area of 10,333 square feet each, each of the two floors has a guide price of S$25.8 million and are to be sold either individually or collectively, CBRE said.
https://www.businesstimes.com.sg/real-estate/two-office-floors-at-springleaf-tower-up-for-sale-0

Landlords to bring back previous Phase 2 (Heightened Alert) support schemes
Major landlords are bringing back the support schemes they provided last May, as Singapore enters Phase 2 (Heightened Alert) for the second time in three months. To boost online presence and purchases, CapitaLand and City Developments Ltd (CDL) will absorb the on-boarding, commission and delivery fees from their respective digital platforms, Capita3Eats and CDL eMall.
https://www.businesstimes.com.sg/real-estate/landlords-to-bring-back-previous-phase-2-heightened-alert-support-schemes

Singapore Economy

Small businesses ask for ramp-up in relief measures
Desperate small businesses have called for a ramp-up in relief measures, as Singapore headed into its third pandemic-era ban on dining-in. Without help, the consumer sector will hit its breaking point, its representatives warned on Wednesday.
https://www.businesstimes.com.sg/government-economy/small-businesses-ask-for-ramp-up-in-relief-measures
https://www.straitstimes.com/business/economy/front-line-businesses-seek-help-in-paying-wages-rents

Companies’ Brief

CDL’s New Zealand unit acquires development land in Havelock North
CDL Investments New Zealand (CDI), the 66 per cent-owned subsidiary of City Developments (CDL) that is listed in New Zealand, has acquired 69.4 hectares of land in Havelock North, New Zealand, the company said on Wednesday in a bourse filing.
https://www.businesstimes.com.sg/real-estate/cdls-new-zealand-unit-acquires-development-land-in-havelock-north

ARA Logos H1 DPU up 10.6% to 2.57 S cents on revenue from Australia acquisition
ARA Logos Log Tr distribution per unit (DPU) rose 10.6 per cent to 2.57 Singapore cents for the first half ended June 30, 2021, from 2.323 cents the year before. Excluding a capital distribution consisting of S$600,000, adjusted DPU stood at 2.524 Singapore cents for H1 2021, up 0.7 per cent from 2.506 cents the year prior.
https://www.businesstimes.com.sg/real-estate/ara-logos-h1-dpu-up-106-to-257-s-cents-on-revenue-from-australia-acquisition

Sabana Reit’s H1 DPU trebles to 1.48 S cents on higher revenue, absence of retention
The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) has announced a distribution per unit (DPU) of 1.48 Singapore cents for the half year ended June 30, 2021, more than three times the DPU of 0.47 Singapore cents a year ago.
https://www.businesstimes.com.sg/real-estate/sabana-reits-h1-dpu-trebles-to-148-s-cents-on-higher-revenue-absence-of-retention

Suntec Reit posts 26.1% rise H1 2021 DPU amid resilient office portfolio
Suntec Reit Estate Investment Trust (Reit)’s distribution per unit (DPU) rose 26.1 per cent to 4.154 Singapore cents for the six-month period ended June 30, 2021, up from 3.293 cents for the same period a year ago.
https://www.businesstimes.com.sg/real-estate/suntec-reit-posts-261-rise-h1-2021-dpu-amid-resilient-office-portfolio

FCT, KReit, MCT among safer Reit options amid return to Heightened Alert: DBS
Frasers Centrepoint Trust (FCT), Keppel Reit (KReit) Keppel Reit and Mapletree Commercial Trust (MCT) are among the preferred Singapore real estate investment trust (S-Reit) picks of DBS, as the country returns to Phase 2 (Heightened Alert) in a bid to control the spread of Covid-19.
https://www.businesstimes.com.sg/stocks/fct-kreit-mct-among-safer-reit-options-amid-return-to-heightened-alert-dbs

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1420

Views, Reviews, Forum & Others

Sudden rule changes send mixed signals to businesses
The ban on dining-in, which takes effect from today, has led to F&B players scrambling to reconfigure their operations over the last two days. With less than 48 hours to prepare – the announcement to return to Phase 2 (Heightened Alert) was made on Tuesday afternoon…
https://www.businesstimes.com.sg/opinion/sudden-rule-changes-send-mixed-signals-to-businesses

A strategic regrouping to opening up
Many Singaporeans will be sorely disappointed that anti-Covid-19 measures have been tightened again as the country reverts to phase two (heightened alert) to stem the recent spike in community cases. Dining in will not be allowed till Aug 18, maximum group sizes for social gatherings will be reduced from five to two…
https://www.straitstimes.com/opinion/st-editorial/a-strategic-regrouping-to-opening-up-0

Here’s how the US can win more friends in South-east Asia
At last week’s Apec leaders’ informal summit arranged by current chair New Zealand to discuss the pandemic and related crises, Chinese President Xi Jinping quoted a Maori saying: Turn your face to the sun, and the shadow falls behind you.
https://www.straitstimes.com/opinion/heres-how-the-us-can-win-more-friends-in-south-east-asia

The incredible unsinkable American economy
I first arrived in the United States in September 1972, to pursue postgraduate studies in economics. That gave me a prime vantage point from which to view the 1974-75 severe recession, when high unemployment was followed by persistent high inflation, both in the double digits, which economists dubbed “stagflation”.
https://www.straitstimes.com/opinion/the-incredible-unsinkable-american-economy

Reports of spying on world leaders, activists trigger uproar
The revelation that a sophisticated cyber-surveillance tool developed by an Israeli company has allegedly been used to spy on government leaders, prominent journalists, democracy advocates, corruption fighters and lawyers around the world has triggered an uproar and a search for answers.
https://www.straitstimes.com/world/reports-of-spying-on-world-leaders-activists-trigger-uproar

Sufficient supply of seafood, but shoppers urged to widen choices
Shoppers are advised to widen their choices and sources of seafood in order to ease the effects of short-term disruptions to Singapore’s chilled seafood supply, said Minister for Sustainability and the Environment Grace Fu.
https://www.straitstimes.com/singapore/consumer/sufficient-supply-of-seafood-but-shoppers-urged-to-widen-choices

Update on COVID-19 (Coronavirus Disease 2019) Situation

179 new locally transmitted Covid cases in Singapore
There were 179 new locally transmitted coronavirus cases on Wednesday, including 130 cases connected to the growing cluster linked to the Jurong Fishery Port, and markets and food centres. This brings the total number of cases in the Jurong Fishery Port cluster to 451.
https://www.businesstimes.com.sg/government-economy/179-new-locally-transmitted-covid-cases-in-singapore

New clusters in 2 markets and Marina Bay Sands casino
There are two new Covid-19 clusters at markets in Clementi and Whampoa linked to the Jurong Fishery Port cluster, as well as a new cluster at the Marina Bay Sands casino, said the Ministry of Health (MOH). In its daily update yesterday, MOH said it has detected 22 Covid-19 cases among people who worked in or visited Clementi 448 Market and Food Centre, and 12 cases at Whampoa Drive Market.
https://www.straitstimes.com/singapore/health/new-clusters-in-2-markets-and-marina-bay-sands-casino

Tightened curbs due to fishery port cluster, not KTV cluster: Ong Ye Kung
The irresponsible behaviour of people in the cluster linked to KTV lounges is not the reason for the reversion to phase two (heightened alert), said Health Minister Ong Ye Kung. Like everyone, he is upset with their actions, added Mr Ong in a Facebook post last night.
https://www.straitstimes.com/singapore/health/tightened-curbs-due-to-fishery-port-cluster-not-ktv-cluster-ong-ye-kung

Can I still swim, play golf amid tighter measures from today?
Singapore returns to phase two (heightened alert) today, but fret not sports enthusiasts, you are still able to exercise and stay active. The Straits Times looks at what activities are allowed even as the country implements tighter measures to battle the pandemic.
https://www.straitstimes.com/sport/can-i-still-swim-play-golf-amid-tighter-measures-from-today

Queues continue on last day of Covid-19 self-test kit collection
Queues for free antigen rapid test kits continued to form at several venues across Singapore on the last day of collection yesterday. The self-test kits are meant for individuals who had visited four markets and food centres in the past 14 days….
https://www.straitstimes.com/singapore/health/queues-continue-on-last-day-of-covid-19-self-test-kit-collection

*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