DAILY NEWS

Daily News – 25 June 2021 (Fri)

Singapore Real Estate

New norms may emerge in retail sector as sales per square foot of space fall
Trends that may emerge in the retail industry include refreshed tenant mixes, shorter and flexible leases, and pop-up stores, while experiential concepts take a back seat. Sales per square foot (psf) of retail space in Singapore could also become more volatile, said Lee Nai Jia, deputy director of the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore.
https://www.businesstimes.com.sg/real-estate/new-norms-may-emerge-in-retail-sector-as-sales-per-square-foot-of-space-fall

Return HDB to its roots of building homes, not short-term assets
The Government is seeking views on how to price and allocate new public housing flats in prime areas, in a way that stays true to the values of accessibility, inclusivity and diversity in public housing. As Second Minister for National Development Indranee Rajah wrote in a commentary…
https://www.straitstimes.com/opinion/return-hdb-to-its-roots-of-building-homes-not-short-term-assets

More than 540,000 HDB flat owners to pay less in home insurance premiums
More than 540,000 Housing Board flat owners will, on average, pay 10 per cent less in premiums for a Central Provident Fund (CPF) home insurance scheme from July 1. The CPF Board said yesterday that it would be reducing premiums for the Home Protection Scheme (HPS) owing to “better-than-expected investment returns and claims experience”.
https://www.straitstimes.com/singapore/housing/more-than-540000-hdb-flat-owners-to-pay-less-in-home-insurance-premiums

Singapore Economy

UK hopes to wrap CPTPP talks by next year: Dominic Raab
The United Kingdom hopes to finalise negotiations to join a Pacific free trade agreement (FTA) within the next year, said its top diplomat. Britain and countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), one of the world’s largest trade blocs, launched formal negotiations this week to begin its accession into the alliance.
https://www.businesstimes.com.sg/government-economy/uk-hopes-to-wrap-cptpp-talks-by-next-year-dominic-raab
https://www.straitstimes.com/business/economy/uk-hopes-to-be-able-to-join-cptpp-trading-bloc-by-next-year-raab

Singapore, Bangladesh urged to collaborate on enhancing connectivity
Singapore and Bangladesh should look to collaborate on improving connectivity and infrastructure so as to build on each other’s competitive advantages and benefit from the larger global economy, said Minister for Transport & Minister-in-charge of Trade Relations S Iswaran in a webinar on business opportunities in Bangladesh on Thursday.
https://www.businesstimes.com.sg/government-economy/singapore-bangladesh-urged-to-collaborate-on-enhancing-connectivity

New international panel to advise S’pore on sustainable infrastructure
As countries recover from the Covid-19 pandemic, there are opportunities to reset and rebuild, especially in the area of sustainable infrastructure. This is why Singapore has set up an international panel of experts to advise on the latest trends and best practices in sustainable infrastructure…
https://www.straitstimes.com/singapore/new-international-panel-to-advise-spore-on-sustainable-infrastructure

Companies’ Brief

Keppel, Sembmarine begin talks on merger of O&M operations
Keppel Corporation and Sembcorp Marine (Sembmarine) will kick off talks that could see a merger of their offshore and marine (O&M) operations and leave both companies in stronger positions. The two companies on Thursday signed a non-binding memorandum of understanding (MOU) to enter into exclusive talks with the aim of merging Keppel O&M and Sembmarine.
https://www.businesstimes.com.sg/companies-markets/keppel-sembmarine-begin-talks-on-merger-of-om-operations
https://www.straitstimes.com/business/companies-markets/sembmarine-proposes-15b-rights-issue-amid-disruptions

Prime US Reit acquiring two office assets for US$245.5m, to be part funded by placement
The manager of Prime US Reit has agreed to acquire two properties in the US for US$245.5 million, with the purchase to be partially funded through a private placement exercise to raise gross proceeds of at least US$80 million.
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-acquiring-two-office-assets-for-us2455m-to-be-part-funded-by

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1405

Views, Reviews, Forum & Others

The green dollar: Cities like Singapore show the way
Cities consume 78 per cent of the world’s energy and are responsible for more than 60 per cent of greenhouse gas emissions – although they account for less than 2 per cent of the earth’s surface. It is time for cities to find ways to contribute to the global fight against climate change.
https://www.straitstimes.com/opinion/the-green-dollar-cities-like-singapore-show-the-way

SembMarine and Keppel’s O&M union: when one is better than two
In a year dominated by landmark corporate reboots by Singapore’s bigwigs from the telco, energy, media to real estate and transport sectors, the latest idea by giants Keppel Corp and Sembcorp Marine (SembMarine) to create an offshore & marine (O&M) powerhouse through a merger of their O&M businesses may be hard to outshine.
https://www.businesstimes.com.sg/opinion/sembmarine-and-keppels-om-union-when-one-is-better-than-two
https://www.straitstimes.com/business/merging-keppels-om-unit-with-sembmarine-a-win-win-solution

FDI to Asia defies pandemic to grow 4% in 2020, but S-E Asia takes a hit
Foreign direct investment (FDI) flows to developing countries in Asia increased by 4 per cent to US$535 billion in 2020, reflecting resilience amid global contraction which saw South-east Asia taking a hit with a 25 per cent contraction.
https://www.businesstimes.com.sg/government-economy/fdi-to-asia-defies-pandemic-to-grow-4-in-2020-but-s-e-asia-takes-a-hit

Singapore SMEs, individuals, given ‘final extension’ to resume full loan repayments
The Monetary Authority of Singapore (MAS) and financial industry on Thursday announced what is expected to be the “final extension” of relief measures to resume full loan repayments for individuals and businesses affected by the pandemic.
https://www.businesstimes.com.sg/banking-finance/singapore-smes-individuals-given-final-extension-to-resume-full-loan-repayments
https://www.straitstimes.com/business/companies-markets/smes-individuals-struggling-to-repay-loans-will-get-more-time

Singapore slips to fourth place in Global Fintech Rankings but retains top spot in Asia-Pacific
Singapore has fallen one rung to fourth place in this year’s Global Fintech Rankings. And while it still takes the top spot among countries in the Asia-Pacific, the Republic faces stiff competition from countries like Australia, China and Japan, which have moved up the leaderboard this year.
https://www.businesstimes.com.sg/global-enterprise/singapore-slips-to-fourth-place-in-global-fintech-rankings-but-retains-top-spot-in
https://www.straitstimes.com/business/banking/spore-slips-to-no-4-in-fintech-index-still-top-in-asia-pacific

More migrant workers, maids to be allowed in
More migrant workers and foreign domestic helpers will soon be allowed to enter Singapore to work, said Trade and Industry Minister Gan Kim Yong yesterday. “This will ease the immense pressures our companies have been under since the start of the pandemic,” he said…
https://www.straitstimes.com/singapore/more-migrant-workers-maids-to-be-allowed-in

Low risk of severe haze from Indonesia this year: Singapore Institute of International Affairs
Singapore – There is a low risk of severe haze originating from forest fires in Indonesia this year, a local think-tank has assessed. The report by the Singapore Institute of International Affairs (SIIA) released on Thursday (June 24) said this was due to a confluence of factors.
https://www.straitstimes.com/singapore/environment/low-risk-of-severe-haze-from-indonesia-this-year-singapore-institute-of

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore will speed up Covid-19 vaccination programme: taskforce
Singapore is speeding up its Covid-19 vaccination efforts, aiming to fully vaccinate two-thirds of the population by Aug 9. Higher vaccine coverage will enable more economic reopening as fuller resumption of activity in sectors such as food and beverage (F&B), hospitality, events and travel will depend on Singapore’s vaccination rates…
https://www.businesstimes.com.sg/government-economy/singapore-will-speed-up-covid-19-vaccination-programme-taskforce
https://www.straitstimes.com/singapore/spore-nearly-doubles-vaccination-roll-out-to-80000-doses-a-day

S’pore believes in fair, equitable distribution of Covid-19 vaccines: Vivian
The coronavirus pandemic has illustrated the urgent need for global cooperation on healthcare and vaccine distribution, and Singapore, as a strong supporter of vaccine multilateralism, believes in the fair and equitable distribution of vaccines, the Republic’s Foreign Minister Vivian Balakrishnan said on Wednesday.
https://www.straitstimes.com/singapore/spore-believes-in-fair-equitable-distribution-of-covid-19-vaccines-vivian

Changi hospital porter among two unlinked Covid cases
A 35-year-old male who works as a porter at Changi General Hospital tested positive for the coronavirus on June 23, said the Ministry of Health (MOH) on Thursday night. He is one of two unlinked cases that were announced.
https://www.businesstimes.com.sg/government-economy/changi-hospital-porter-among-two-unlinked-covid-cases
https://www.straitstimes.com/singapore/two-unlinked-cases-porter-at-changi-general-hospital-and-retiree

Infected NCID nurse: Over 85% of staff in same ward have tested negative
More than 85 per cent of the staff who work in the National Centre for Infectious Diseases (NCID) ward where a nurse recently tested positive for Covid-19 have tested negative for the virus that causes the disease.
https://www.straitstimes.com/singapore/health/infected-ncid-nurse-over-85-of-staff-in-same-ward-have-tested-negative

Half of cases in Bukit Merah View market cluster unvaccinated
Around half of the Covid-19 cases in the cluster at 115 Bukit Merah View Market and Hawker Centre – Singapore’s largest open cluster with 82 infections as at Wednesday night – were not vaccinated. At least 219,000 tests have been conducted in various nearby areas over the past three weeks as part of aggressive community surveillance measures.
https://www.straitstimes.com/singapore/half-of-cases-in-bukit-merah-view-market-cluster-unvaccinated

500,000 new vaccine slots to be added over next few days
With more vaccine supplies on the way, the Ministry of Health (MOH) expects another 500,000 new slots to be added in the next few days for people to make their first-dose appointments for between now and mid-July.
https://www.straitstimes.com/singapore/500000-new-vaccine-slots-to-be-added-over-next-few-days

Dine-in group limit on track to be raised from 2 to 5 in mid-July
The group limit for dining in at food and beverage (F&B) outlets is on track to be raised in the middle of next month to five from the current two. This is in tandem with the ramping up of the vaccination programme in Singapore and regular testing of workers in higher-risk settings, Finance Minister Lawrence Wong said yesterday.
https://www.straitstimes.com/singapore/dine-in-group-limit-on-track-to-be-raised-from-2-to-5-in-mid-july

Every household to get an oximeter from Temasek Foundation
Temasek Foundation will be giving one oximeter to every household in Singapore so that residents can monitor their blood oxygen levels regularly. The device checks the oxygen level in the blood and can help detect early signs of a deterioration in health.
https://www.straitstimes.com/singapore/every-household-to-get-an-oximeter-from-temasek-foundation

Singapore may get non-mRNA Novavax Covid-19 vaccine before year-end
[Singapore] Singapore has signed advanced purchase agreements with American biotechnology company Novavax to secure its protein-based Covid-19 vaccine, with supplies possibly arriving before the end of the year.
https://www.businesstimes.com.sg/government-economy/singapore-may-get-non-mrna-novavax-covid-19-vaccine-before-year-end
https://www.straitstimes.com/singapore/singapore-may-get-non-mrna-novavax-vaccine-by-year-end

FDA to add heart risk warning to mRNA vaccines
Washington • The US Food and Drug Administration (FDA) has said it plans to move quickly to add a warning about rare cases of heart inflammation in adolescents and young adults to factsheets for the Pfizer-BioNTech and Moderna Covid-19 vaccines.
https://www.straitstimes.com/world/united-states/fda-to-add-heart-risk-warning-to-mrna-vaccines

Gan: Waiving SHN could be among concessions for vaccinated travellers
People who have received their Covid-19 vaccinations “will be given some concession when travelling or returning to Singapore”, Trade and Industry Minister Gan Kim Yong said yesterday. Such concessions could include waiving the need for travellers to serve stay-home notice when they return to Singapore…
https://www.straitstimes.com/singapore/gan-waiving-shn-could-be-among-concessions-for-vaccinated-travellers

Latest Covid-19 variant Delta Plus not detected in Singapore
The latest coronavirus variant to raise concern, Delta Plus, has not been detected in Singapore, said director of medical services Kenneth Mak yesterday. He said the Covid-19 task force will continue to keep a lookout and monitor the situation here.
https://www.straitstimes.com/singapore/latest-covid-19-variant-delta-plus-not-detected-in-singapore

Pfizer, AstraZeneca shots work against Delta variant: Study
London • Covid-19 vaccines made by AstraZeneca and the Pfizer-BioNTech alliance remain broadly effective against the Delta and Kappa variants of the coronavirus – both of which were first identified in India – according to a scientific study, underpinning a continued push to deliver the shots.
https://www.straitstimes.com/world/europe/pfizer-astrazeneca-shots-work-against-delta-variant-study

The faster Singaporeans get their vaccines, the sooner S’pore can return to normalcy
The focus of Singapore’s fight against Covid-19 has started to shift, with plans to announce an exit road map shortly. Singapore has not reached the end of the tunnel yet, but the light at the end is shining brighter. In fact, it’s positively glowing.
https://www.straitstimes.com/singapore/health/the-faster-singaporeans-get-their-vaccines-the-sooner-spore-can-return-to-normalcy

Unvaccinated seniors urged to get jabs – they are most vulnerable
Unvaccinated seniors remain the most vulnerable to new Covid-19 infections as Singapore continues to ease restrictions in its reopening, said ministers chairing a task force tackling the pandemic. They urged people aged over 60 to get their jabs as soon as possible.
https://www.straitstimes.com/singapore/unvaccinated-seniors-urged-to-get-jabs-they-are-most-vulnerable

*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