DAILY NEWS

Daily News – 27 April 2022 (Wed)

Singapore Real Estate

Olive Rd GCB sold for S$50.2 million
A grandson of the late property magnate and hotelier Wee Thiam Siew is buying an old freehold bungalow along Olive Road for nearly S$50.24 million. The price paid by Wee Hian Nam for the property, which is part of the Caldecott Hill Good Class Bungalow (GCB) Area, works out to S$1,800 per square foot on the land area of 27,909 sq ft.
https://www.businesstimes.com.sg/real-estate/olive-rd-gcb-sold-for-s502-million
https://www.straitstimes.com/business/property/new-price-record-set-by-property-magnate-wee-thiam-siews-family-for-olive-road-gcb-at-502m

JTC puts up 2 industrial land sites for sale in Tampines
JTC on Tuesday (Apr 26) launched 2 sites in Tampines under the Industrial Government Land Sales (IGLS) programme. The site located at Plot 10 Tampines North Drive 5 is the second of 3 parcels that are on the confirmed list for the first half of the 2022 IGLS Programme.
https://www.businesstimes.com.sg/real-estate/jtc-puts-up-2-industrial-land-sites-for-sale-in-tampines

Sustainability-linked loans trump other green finance for Singapore property firms
Property firms and real estate investment trusts (Reits) bagged nearly half of the green debt raised by Singapore companies last year, with sustainability-linked loans making up the lion’s share, according to an analysis by the Institute of Real Estate and Urban Studies (IREUS).
https://www.businesstimes.com.sg/real-estate/sustainability-linked-loans-trump-other-green-finance-for-singapore-property-firms

Singapore Economy

Singapore Q1 GDP expected to be upgraded with better-than-expected March factory output
Although Singapore’s factory output in March eased from the previous month, the better-than-expected performance is expected to improve the Republic’s first-quarter economic growth.
https://www.businesstimes.com.sg/government-economy/singapore-q1-gdp-expected-to-be-upgraded-with-better-than-expected-march-factory
https://www.straitstimes.com/business/economy/growth-in-singapore-factory-output-slows-to-34-in-march-as-pharma-production-falls

Singapore remains fully open to trade and investments, says Lawrence Wong
Singapore – The Central Business District (CBD) regained a semblance of normalcy on Tuesday morning (April 26), with the cap on workers allowed to return to the workplace now lifted following a major relaxation of Covid-19 rules.
https://www.straitstimes.com/singapore/crowds-return-to-the-central-business-district-with-covid-19-measures-eased

Companies’ Brief

Amara shareholders vote against re-election of independent director Tan Tiong Cheng, performance share plan
Shareholders of Amara Holdings voted against the re-election of independent director Tan Tiong Cheng during its annual general meeting (AGM) on Tuesday (Apr 26). A second resolution to grant directors authority to issue shares under the Amara Performance Share Plan was also rejected by shareholders during the meeting.
https://www.businesstimes.com.sg/companies-markets/amara-shareholders-vote-against-re-election-of-independent-director-tan-tiong

Aims Apac Reit posts 4.8% fall in H2 DPU to S$0.0471
Aims Apac Reit posted a 4.8 per cent fall in its distribution per unit (DPU) to S$0.0471 for its second half ended Mar 31, from S$0.0495 a year ago, as distributions to unitholders declined 3.8 per cent on year to S$33.6 million for the period, from S$35 million.
https://www.businesstimes.com.sg/companies-markets/aims-apac-reit-posts-48-fall-in-h2-dpu-to-s00471

ESR-Reit posts 9.6% drop in Q1 DPU to S$0.00723; surge in utilities costs weighs down NPI
ESR-Reit distribution per unit (DPU) fell 9.6 per cent to S$0.00723 for its first quarter ended Mar 31 2022, from S$0.008 a year ago. Gross revenue was down 1.2 per cent to S$59.6 million for the quarter, from S$60.3 million a year ago.
https://www.businesstimes.com.sg/companies-markets/esr-reit-posts-96-drop-in-q1-dpu-to-s000723-surge-in-utilities-costs-weighs-down

FCT raises H1 DPU by 2.3% on improved operating, financial performance
Frasers Centrepoint Trust : J69U +0.82% (FCT) posted a 2.3 per cent rise in distribution per unit (DPU) to S$0.06136 for its first half ended Mar 31, 2022, from S$0.05996 a year ago, as the real estate investment trust (Reit) saw an improved operating and financial performance in the period.
https://www.businesstimes.com.sg/companies-markets/fct-raises-h1-dpu-by-23-on-improved-operating-financial-performance

Sabana Reit unitholders vote against appointment of director Chan Wai Kheong at AGM
Unitholders of Sabana Industrial Real Estate Investment Trust (Sabana Reit) have voted not to endorse the appointment of independent non-executive director Chan Wai Kheong. Chan, a hedge fund founder and former Credit Suisse trader, was appointed to the board of Sabana Reit in June last year.
https://www.businesstimes.com.sg/companies-markets/sabana-reit-unitholders-vote-against-appointment-of-director-chan-wai-kheong-at

Views, Reviews, Forum and Others

Staying vigilant even as most curbs are lifted
Singapore – Singapore has been ranked second in the world – behind Cambodia and just ahead of Thailand – in a study measuring China’s expanding influence on countries.
https://www.straitstimes.com/singapore/spore-is-second-most-influenced-by-china-in-the-world-according-to-taiwan-report

Investing post-pandemic: Start with these 3 sectors
The news just keeps getting better. Just last month, outdoor mask-wearing was made optional while group sizes were doubled from five to 10. Alcohol restrictions were lifted, allowing revelers to party late into the night. Live performances and singing were also finally allowed, and many people rushed to make bookings at their favourite karaoke outlets.
https://www.businesstimes.com.sg/wealth-investing/investing-post-pandemic-start-with-these-3-sectors

Update on COVID-19 (Coronavirus Disease 2

Crowds return to CBD with Covid-19 measures eased, no more SafeEntry check-in queues at malls
Singapore – The Central Business District (CBD) regained a semblance of normalcy on Tuesday morning (April 26), with the cap on workers allowed to return to the workplace now lifted following a major relaxation of Covid-19 rules.
https://www.straitstimes.com/singapore/crowds-return-to-the-central-business-district-with-covid-19-measures-eased

Dorscon yellow rules in S’pore: ‘Yam seng’ allowed, but still no self-service buffets
Singapore – As at Tuesday (April 26), the Republic has removed most of its remaining Covid-19 restrictions, in a major easing of rules. Under the sweeping changes, there are no longer limits on group sizes, safe distancing between individuals is no longer mandatory, and all employees can return to their workplaces.
https://www.straitstimes.com/singapore/dorscon-yellow-rules-yam-seng-allowed-but-still-no-self-service-buffets

*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