DAILY NEWS

Daily News – 23, 24 & 25 April 2022 (Sat, Sun & Mon)

Singapore Real Estate

Singapore’s housing shortage risks bid to cool home prices
Singapore’s property boom has left the tiny island state with a record low number of new homes for sale, threatening to undermine government efforts to calm the market. While property curbs have already begun to take effect, the shortage in supply, combined with resilient demand during the pandemic, may continue to fuel prices which surged the most in more than a decade last year.
https://www.businesstimes.com.sg/real-estate/singapores-housing-shortage-risks-bid-to-cool-home-prices

EC North Gaia moves nearly 27 per cent of units on launch weekend
The first executive condominium (EC) project to be launched this year, Sing Holdings’ North Gaia, moved 164 of its 616 units over the weekend. The take-up rate, as at 5pm on Sunday (Apr 24), works out to nearly 27 per cent of the total number of units.
https://www.businesstimes.com.sg/real-estate/ec-north-gaia-moves-nearly-27-per-cent-of-units-on-launch-weekend
https://www.straitstimes.com/business/property/nearly-27-of-units-at-north-gaia-exec-condo-sold-on-launch-weekend

A trapezoid? Office conference tables and rooms take new shape in hybrid-work era
Triangle, trapezoid, half oval and more – debating workspace tables these days can sound like a geometry class. As employees embrace hybrid work, companies need to reevaluate meeting spaces when some attendees are in the office and others dial in.
https://www.businesstimes.com.sg/real-estate/a-trapezoid-office-conference-tables-and-rooms-take-new-shape-in-hybrid-work-era

1,600 HDB flats to be built in Farrer Park, swimming complex to make way for new sports centre
Singapore – Around 1,600 new Housing Board flats will be built on a 10ha site in Farrer Park, along with sports and recreational facilities including a new sports centre.
https://www.straitstimes.com/singapore/housing/1600-hdb-flats-to-be-built-in-farrer-park-swimming-complex-to-make-way-for-new-sports-centre

Singapore Economy

Manpower-lean transformation can wait, as businesses rush to hire returning Malaysians
With Singapore’s land border now fully reopened, employers are rolling out the welcome mat for the return of Malaysian workers who used to commute here in droves for blue-collar jobs. While schemes to reduce reliance on foreign labour are under way,…
https://www.businesstimes.com.sg/government-economy/manpower-lean-transformation-can-wait-as-businesses-rush-to-hire-returning

Singapore’s tourism industry looking up with signs of growth under way
Singapore – Tourism to the Republic could be looking at a strong recovery this year, with several industry players already seeing a big spike in holidaymakers coming here in recent weeks. This was even before the announcement on Friday (April 22) on the end of Covid-19 pre-departure tests for fully-vaccinated visitors entering Singapore from next Tuesday.
https://www.straitstimes.com/singapore/consumer/singapores-tourism-industry-looking-up-with-signs-of-growth-underway

Companies’ Brief

CICT appoints JTC CEO Tan Boon Khai as non-executive independent director
CapitaLand Integrated Commercial Trust (CICT) has appointed Tan Boon Khai, chief executive officer (CEO) of Jurong Town Corporation (JTC) ) as its non-executive independent director and a member of its audit committee.
https://www.businesstimes.com.sg/companies-markets/cict-appoints-jtc-ceo-tan-boon-khai-as-non-executive-independent-director%C2%A0

Upcoming S-Reits’ earnings releases schedule
SPH Reit kicked off the current financial reporting season for S-Reits on Apr 1, 2022 with the release of its H1 FY2022 (ended Feb 28, 2022) financial results.
https://www.businesstimes.com.sg/companies-markets/upcoming-s-reits-earnings-releases-schedule-0

Views, Reviews, Forum and Others

How will the return to office play out for the office market?
As Singapore’s Central Business District awakes after hibernating for the most part of the pandemic years, a changed workplace landscape is emerging. Workers are returning to offices, but it is evident that the hybrid work model – combining working from the office and remote work (typically from home) – is not expected to disappear.
https://www.businesstimes.com.sg/brunch/how-will-the-return-to-office-play-out-for-the-office-market

Singapore’s future as a global city in a ‘deglobalising’ world
Singapore draws sustenance from the international economic system, to which as a global city it belongs, and that system will be the final arbiter of whether the Republic prospers or declines.
https://www.straitstimes.com/opinion/primer-singapores-future-as-a-global-city-in-a-deglobalising-world

To invest with impact, we need to invest in the planet
A green future is a prosperous future. Governments, industry, individuals need to work together to achieve sustainable solutions for climate change, pollution.
https://www.businesstimes.com.sg/wealth-investing/to-invest-with-impact-we-need-to-invest-in-the-planet

Young & Savvy: What to look out for when buying an HDB resale flat
Singapore – Like many couples hoping to buy our first Housing Board flat, my partner and I have given up on getting a Build-To-Order (BTO) unit.
https://www.straitstimes.com/business/invest/young-savvy-what-to-look-out-for-when-buying-a-hdb-resale-flat

Where to find cheaper HDB resale flats
The prices of Housing Board resale flats have increased steadily over the past two years. In 2021, the HDB resale price index jumped 12.7 per cent year on year, which was the highest annual rate of growth in the past decade.
https://www.straitstimes.com/business/invest/where-to-find-cheaper-resale-flats-0

Priming young property agents to sell dream homes on YouTube
Real estate entrepreneur Nicholas Tan gets creative while grooming the next generation of property leaders.
https://www.businesstimes.com.sg/wealth-investing/priming-young-property-agents-to-sell-dream-homes-on-youtube

No drop in home renovation gripes as manpower shortage persists
Singapore – Amid a spike in home renovation complaints, contractors here said they have been trying to meet contractual obligations in a climate of rising material costs and a deep manpower shortage.
https://www.straitstimes.com/singapore/no-drop-in-home-renovation-gripes-as-manpower-shortage-persists

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore to lower Dorscon level from orange to yellow from April 26
Singapore – The Republic will be stepping down its Disease Outbreak Response System Condition (Dorscon) framework from orange to yellow on April 26, given the improving local Covid-19 situation.
https://www.straitstimes.com/singapore/singapore-to-lower-dorscon-level-from-orange-to-yellow-from-april-26

Flexible work arrangements should be a permanent feature: Tripartite statement
Singapore – Employers are encouraged to continue offering flexible work arrangements to employees even though all workers can now return to their offices, a tripartite statement on Friday (April 22) said.
https://www.straitstimes.com/singapore/flexible-work-arrangements-should-be-a-permanent-feature-tripartite-statement

Singapore lifts most Covid-19 curbs from Apr 26
The multi-ministry taskforce on Covid-19 on April 22 announced that most of the 5 parameters in the Safe Management Measures (SMM) framework have been lifted, including caps on group sizes and the need for safe distancing.
https://www.businesstimes.com.sg/government-economy/singapore-lifts-most-covid-19-curbs-from-apr-26
https://www.businesstimes.com.sg/government-economy/singapore-to-lift-most-pandemic-curbs-from-apr-26
https://www.straitstimes.com/singapore/singapore-announces-major-easing-of-covid-19-rules-from-april-26-what-you-need-to-know

Easing of Covid-19 rules brings Singapore closer to normalcy
Singapore – The latest easing of restrictions brings Singapore closer to treating Covid-19 as endemic – even though more than a third of the world’s population remains unvaccinated and some countries are still facing high infection rates.
https://www.straitstimes.com/singapore/health/singapore-takes-steady-steps-towards-normalcy-a-pace-many-are-happy-with

S’pore restaurant owners welcome easing of Covid-19 curbs, but fret over labour crunch
Singapore – Chefs and restaurateurs said on Saturday (April 23) that they welcome the relaxation of Covid-19 measures effective from Tuesday (April 26) that will all but restore the dining scene to its pre-pandemic vibrancy.
https://www.straitstimes.com/singapore/consumer/dining-out-almost-back-to-normal-from-tuesday-but-restaurants-fret-over-labour-crunch

No more tests for vaccinated travellers to Singapore from Apr 26
Fully vaccinated travellers arriving via air or sea checkpoints will no longer need to take a pre-departure test before departing to Singapore, from 12.01 am on Apr 26, said the Ministry of Health (MOH) on Friday (Apr 22).
https://www.businesstimes.com.sg/government-economy/no-more-tests-for-vaccinated-travellers-to-singapore-from-apr-26-0
https://www.straitstimes.com/singapore/transport/no-more-covid-19-tests-for-vaccinated-travellers-entering-singapore-from-april-26

TraceTogether no longer required in most settings from April 26
Singapore – From April 26, most places will not differentiate between people who are vaccinated and those who are not, except for higher-risk settings such as larger events, food and beverage (F&B) outlets, and nightlife establishments with dancing.
https://www.straitstimes.com/singapore/health/tracetogether-no-longer-required-in-most-settings-from-april-26
https://www.straitstimes.com/singapore/consumer/askst-can-someone-who-is-not-fully-vaccinated-dine-out-from-april-26

More Covid-19 vaccination centres to stop operations
Singapore – More Covid-19 vaccination centres will cease operations over the coming months, as the number of Covid-19 doses administered has decreased steadily in recent weeks, said the Ministry of Health (MOH) on Friday (April 22).
https://www.straitstimes.com/singapore/more-covid-19-vaccination-centres-to-stop-operations

Number of safe distancing ambassadors deployed to be reduced as Covid-19 restrictions ease: MSE
Singapore – The number of safe distancing ambassadors (SDAs) deployed on patrols will be gradually stepped down as Singapore further eases its Covid-19 restrictions from Tuesday (April 26).
https://www.straitstimes.com/singapore/number-of-safe-distancing-ambassadors-deployed-to-be-reduced-as-covid-19-restrictions-ease-mse

People aged 60 to 79 can take second Covid-19 vaccine booster if they wish to
Singapore – People aged 60 to 79 can now take a second Covid-19 vaccine booster shot if they wish to, even though the Expert Committee on Covid-19 has yet to recommend that they do so.
https://www.straitstimes.com/singapore/people-aged-60-to-79-can-take-second-covid-19-booster-if-they-wish-to

*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