DAILY NEWS

Daily News – 22, 23 & 24 January 2022 (Sat, Sun & Mon)

Singapore Real Estate

Singapore is third most preferred destination in Apac for cross-border real estate investment in 2022: CBRE
Singapore has been ranked the third most preferred destination for cross-border real estate investment in Asia-Pacific in 2022, according to the findings of CBRE’s latest Asia Pacific Investor Intentions Survey.
https://www.businesstimes.com.sg/real-estate/singapore-is-third-most-preferred-destination-in-apac-for-cross-border-real-estate

Looking ahead at impact of property cooling measures
Pandemic-fuelled demand coupled with a depleting housing supply drove property prices in Singapore to new records last year. Based on the latest flash estimates released by the Urban Redevelopment Authority and Housing Board, both the private residential and HDB resale price indexes for last year registered their fastest annual growth since 2010.
https://www.straitstimes.com/business/invest/looking-ahead-at-impact-of-property-cooling-measures

Landed housing project Belgravia Ace about 72% sold
Some 77 units of the 107-unit freehold strata landed housing project Belgravia Ace were sold over the weekend. The development comprises 104 semi-detached houses and 3 terrace houses, with 85 units being released for sale so far.
https://www.businesstimes.com.sg/real-estate/wealth-investing/landed-housing-project-belgravia-ace-about-72-sold
https://www.straitstimes.com/business/property/landed-housing-project-belgravia-ace-about-72-sold

Singapore Economy

Wealth taxes should be directed at investment properties: Grant Thornton
Wealth taxes should be directed at investment properties given that it is easy to collect and can be used as a mechanism to stabilise property prices for Singaporeans, says professional services firm Grant Thornton.
https://www.businesstimes.com.sg/government-economy/wealth-taxes-should-be-directed-at-investment-properties-grant-thornton

Four Asian Tigers ready to roar in the Year of the Tiger, but challenges lie ahead
Singapore – The Year of the Tiger is approaching. A symbol of power, boldness and speed, will the Tiger bring strong economic recovery to Asia? The region is home to several high-growth economies, including Singapore, Hong Kong, South Korea and Taiwan.
https://www.straitstimes.com/business/economy/four-asian-tigers-ready-to-roar-in-the-year-of-the-tiger-but-challenges-lie-ahead-0

Companies’ Brief

Keppel Land unit in consortium to acquire 3 residential sites in Hanoi
A consortium of Keppel Land’s unit Keppel Land Vietnam Properties, Keppel Vietnam Fund (KVF) and a co-investor of KVF is planning to acquire a 49 per cent interest in 3 residential land plots in Hanoi for an aggregate consideration of 2,715 billion dong (S$159.7 million).
https://www.businesstimes.com.sg/companies-markets/wealth-investing/keppel-land-unit-in-consortium-to-acquire-3-residential-sites-in

Keong Hong shareholder LJHB raises stake; triggers general offer for all shares at S$0.384 apiece
LJHB Holdings has raised its stake in property developer Keong Hong Holdings from 26.7 per cent to 45.8 per cent, triggering a mandatory conditional cash offer for all the shares it does not already own at S$0.384 per share.
https://www.businesstimes.com.sg/companies-markets/wealth-investing/keong-hong-shareholder-ljhb-raises-stake-triggers-general-offer

S-Reit revenue, net property income seen rising but DPUs to dip from high bases
It is results season for Singapore-listed real estate investment trusts (S-Reits), and Sabana Industrial Real Estate Investment Trust (Sabana Reit), the first S-Reit to report its results for the period ended Dec 31, 2021, has given investors some inkling of what to expect.
https://www.businesstimes.com.sg/companies-markets/s-reit-revenue-net-property-income-seen-rising-but-dpus-to-dip-from-high-bases

ALog Trust units could bounce this week, but revised merger deal is still less than compelling for its unitholders
With their extraordinary general meetings (EGMs) only days away, ESR-Reit and Ara Logos Logistics Trust (ALog Trust) have deferred the vote and revised the financial terms of their merger – in favour of unitholders of ALog Trust.
https://www.businesstimes.com.sg/companies-markets/alog-trust-esr-reit-revise-merger-terms-on-pressure-from-proxy-advisers-iss-glass
https://www.straitstimes.com/business/companies-markets/esr-reit-raises-offer-for-alog-egm-and-scheme-meeting-deferred

Views, Reviews, Forum & Others

Digital payment tokens: A distraction or an asset?
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
Given that Singapore is a global financial centre and a fintech hub in Asia, institutional interest in DPT/cryptocurrencies and adoption trends towards digitalisation and blockchain have gained pace.
https://www.businesstimes.com.sg/views-from-the-top/a-distraction-or-an-asset

Reassuring steps against banking scams
Singaporeans should be reassured by the firm response of the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) to the recent spate of SMS-phishing scams targeting bank customers.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-reassuring-steps-against-banking-scams

S’pore is known as a trustworthy place, so why are there so many scams?
It may be precisely because Singapore has a high-trust society that it attracts scammers.
https://www.straitstimes.com/opinion/onmymind-spore-is-known-as-a-trustworthy-place-so-why-are-there-so-many-scams

Singapore to be more selective in data centre investments for sustainable growth
Singapore – Singapore plans to be more selective in its data centre investments after a review of how to grow the industry in a more sustainable manner was recently completed.
https://www.straitstimes.com/business/companies-markets/singapore-to-be-more-selective-of-data-centre-investments-for-sustainable-growth

Experts advise caution as Bitcoin drops to 5-month low
Singapore – Cryptocurrencies have been losing their value since peaking in November, underscoring the risks involved in trading them and on the back of more stringent regulations announced by the Monetary Authority (MAS) this week.
https://www.straitstimes.com/business/companies-markets/bitcoin-tumbles-below-us40000-to-lowest-level-in-5-months?login=true

2021 was one of the most lucrative years in living memory for investors – but too good, some strategists say
Day traders’ “journey to the moon” aboard cryptocurrencies and stock investments has taken a major detour at the start of 2022; and other risky areas may soon come down to earth with a similar bang.
https://www.businesstimes.com.sg/stocks/wealth-investing/2021-was-one-of-the-most-lucrative-years-in-living-memory-for-investors-but

Omicron’s a milder bump for Asean, after earlier, harsher waves
Covid-19 cases are on the rise across South-east Asia, weeks after the extra-contagious Omicron variant was first reported in the region. But the economic damage will be less severe than in previous waves of coronavirus infection, as policymakers eschew crippling lockdowns, analysts believe.
https://www.businesstimes.com.sg/asean-business/omicrons-a-milder-bump-for-asean-after-earlier-harsher-waves

Overworked in S’pore: Study shows one in two logs extra hours since Covid-19 pandemic started
Singapore – One in two Singapore employees has been grappling with longer working hours since the Covid-19 pandemic started two years ago. And a third of those who work overtime put in more than two extra hours a day, a study commissioned by The Straits Times has found.
https://www.straitstimes.com/singapore/jobs/overworked-in-spore-one-in-two-works-extra-hours-daily-since-covid-19-pandemic-started

Update on COVID-19 (Coronavirus Disease 2019) Situation

3,496 new Covid-19 cases in Singapore, one death, as weekly infection growth rate rises to 2.75
[Singapore] There were 3,496 new Covid-19 cases detected in Singapore on Sunday (Jan 23), and one death, according to the Ministry of Health’s (MOH) daily update. The weekly Covid-19 infection growth rate was at 2.75, up from 2.64 the day before.
https://www.businesstimes.com.sg/government-economy/3496-new-covid-19-cases-in-singapore-one-death-as-weekly-infection-growth-rate
https://www.straitstimes.com/singapore/health/3496-new-covid-19-cases-in-spore-one-death-as-weekly-infection-growth-rate-rises-to-275

Singapore tweaks Covid-19 measures, braces for 25,000 daily cases in Omicron wave
Singapore is taking steps to preserve its healthcare capacity by tweaking self-isolation and testing requirements, as the country braces for up to 25,000 daily new cases of Covid-19 in the weeks ahead.
https://www.businesstimes.com.sg/government-economy/singapore-tweaks-covid-19-measures-braces-for-25000-daily-cases-in-omicron-wave

Singapore likely to see ‘significant’ Omicron wave, measures in place to cut risks
Singapore – Singapore is likely to soon see a “significant wave” of Covid-19 cases as the more infectious Omicron variant spreads through the community, which could strain its healthcare capacity.
https://www.straitstimes.com/singapore/health/singapore-likely-to-see-significant-omicron-wave-measures-in-place-to-cut-risks

Now is not the time to gamble and remove Covid-19 vaccination-differentiated measures: Ong Ye Kung
Singapore – Singapore will not be dropping vaccination-differentiated safe management measures (VDS) because the threat to the healthcare system by unvaccinated people remains high.
https://www.straitstimes.com/singapore/health/now-is-not-the-time-to-gamble-and-remove-covid-19-vaccination-differentiation-measures-ong-ye-kung

Singapore must deal with current Omicron wave first before thinking of next steps
Singapore – The co-chairs of Singapore’s multi-ministry task force on Covid-19 have urged patience with the country’s pandemic strategy, noting that an ongoing spate of infections caused by the Omicron strain would have to be arrested before any moves to relax measures or reopen borders could be considered.
https://www.straitstimes.com/singapore/health/spore-must-deal-with-current-omicron-wave-first-before-thinking-of-next-steps

Group size for CNY remains at 5 people, Covid-19 Omicron surge likely to continue into February
Singapore – There will be no changes to current safe management measures (SMMs) for the upcoming Chinese New Year to help protect Singapore’s healthcare system. This comes amid a surge in Covid-19 cases here from the Omicron variant, said Minister for Trade and Industry Gan Kim Yong on Friday (Jan 21).
https://www.straitstimes.com/singapore/health/group-size-for-cny-remains-at-5-people-omicron-surge-likely-to-continue-into-february

MOH to stop differentiating between Omicron and non-Omicron cases in daily Covid-19 reports
Singapore – The Ministry of Health (MOH) will be changing its daily reporting of Covid-19 cases, and it would no longer be differentiating between Omicron and non-Omicron cases as total infections are not as important any more, said Health Minister Ong Ye Kung on Friday (Jan 21).
https://www.straitstimes.com/singapore/moh-to-stop-differentiating-between-omicron-and-non-omicron-cases-in-daily-covid-19-reports

New VTL testing rules, suspension of hospital visits: New Covid-19 rules at a glance
Singapore – New measures were announced on Friday (Jan 21) by the multi-ministry task force on Covid-19 to help Singapore prepare to deal with the new Omicron wave.
https://www.straitstimes.com/singapore/health/new-vtl-testing-rules-suspension-of-hospital-visits-new-covid-19-rules-at-a-glance

There will be another variant; here’s what the world can do now
Each time a new variant of the coronavirus emerges, the world follows a similar pattern. Scientists share the discovery, and panic ensues. Not enough is done between each wave to prevent or prepare for the next one.
https://www.businesstimes.com.sg/weekend/there-will-be-another-variant-heres-what-the-world-can-do-now

*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