DAILY NEWS

Daily News – 27 May 2022 (Fri)

Singapore Real Estate

9 Marsiling HDB blocks to make way for Woodlands Checkpoint expansion
The Woodlands Checkpoint will be expanded, in a move that will see 9 Housing Board blocks nearby acquired. Blocks 210 to 218 at Marsiling Crescent/Lane will be acquired as part of the massive redevelopment and expansion.
https://www.businesstimes.com.sg/government-economy/9-marsiling-hdb-blocks-to-make-way-for-woodlands-checkpoint-expansion
https://www.straitstimes.com/singapore/housing/woodlands-checkpoint-expansion-replacement-flats-for-marsiling-residents-4-key-points

Singapore Economy

Singapore factory output expands 6.2% in April, led by aerospace production
Singapore’s factory output grew 6.2 per cent year on year in April, led by the transport engineering sector which continued to see good performance this month, according to data from the Singapore Economic Development Board (EDB) on Thursday (May 26).
https://www.businesstimes.com.sg/government-economy/singapore-factory-output-expands-62-in-april-led-by-aerospace-production
https://www.straitstimes.com/business/economy/singapore-factory-output-growth-picks-up-in-april-on-strong-chip-aerospace-demand

Companies’ Brief

Propertyguru’s Q1 FY2022 revenue rises as losses grow on business combination costs
The revenue for regional property marketplace PropertyGuru for Q1 FY2022 ending Mar 31 jumped 42 per cent to S$28.2 million from S$19.9 million, driven by momentum in its marketplaces, it said in a bourse filing on Thursday (May 26).
https://www.businesstimes.com.sg/companies-markets/propertygurus-q1-fy2022-revenue-rises-as-losses-grow-on-business-combination-costs

Views, Reviews, Forum and Others

Downside risks weigh on economy here
Given persistent external economic headwinds as well as uncertainties, it was only prudent for the Ministry of Trade and Industry (MTI) to qualify that Singapore’s GDP growth is likely to come in at the lower end of its 3 to 5 per cent forecast – that is, 3 to 4 per cent – this year.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-downside-risks-weigh-on-economy-here

Oil price spikes will hit Asia the hardest
Asia is showing signs of particular vulnerability to the current oil price spike at a turbulent time for the region. As the communique from the Asean+3 finance ministers summit warned earlier this month, rising food and energy prices, unexpected monetary policy normalisation in advanced economies, and supply chain disruptions heightened by the Russia-Ukraine conflict are likely to “pose downside risks to the outlook for the region’s trade and investment, growth, and inflation”.
https://www.straitstimes.com/opinion/oil-price-spikes-will-hit-asia-the-hardest

Get on the sustainability agenda, or go out of business
In ranking-obsessed Singapore, there is one particular area that the trade-reliant city-state needs to work harder on: sustainability. A May report by professional services firm PwC and the National University of Singapore’s Centre for Governance and Sustainability showed that only 20 per cent of listed companies in Singapore peg their remuneration of top executives to environmental, social and governance (ESG) factors.
https://www.businesstimes.com.sg/companies-markets/get-on-the-sustainability-agenda-or-go-out-of-business

How sustainability can help companies to stay relevant and capture opportunities
The sustainability movement is gaining momentum globally, with growing awareness and calls to act on environmental and social challenges. This has resulted in active steps being taken by various stakeholders to address these issues.
https://www.businesstimes.com.sg/hub-projects/how-sustainability-can-help-companies-to-stay-relevant-and-capture-opportunities

Making supply chain central to sustainability plans
Consumers globally are becoming more socially conscious and making sustainable choices in how they spend their time and money in a post-pandemic world, according to the EY Future Consumer Index.
https://www.businesstimes.com.sg/hub-projects/making-supply-chain-central-to-sustainability-plans

Relevance and impact of climate change on businesses in Singapore
It is incumbent on all companies to undertake proper climate risk assessments to identify and assess intrinsic operational defects that are susceptible to climate change.
https://www.businesstimes.com.sg/hub-projects/relevance-and-impact-of-climate-change-on-businesses-in-singapore

Future World: Sustainability
https://www.businesstimes.com.sg/hub-projects/future-world-sustainability