DAILY NEWS

Daily News – 25, 26 & 27 December 2021 (Sat, Sun & Mon)

Singapore Real Estate

Office, retail, industrial properties underpin Asia-Pacific investment bonanza
Another bumper year could be in store for real estate investment sales in the Asia-Pacific (Apac) region, with Singapore, South Korea and Australia among the hotspots wooing swathes of capital. After the pandemic-induced blip in 2020, deal volumes rebounded in 2021 and are gearing up to sustain the growth momentum next year, market participants told The Business Times (BT).
https://www.businesstimes.com.sg/real-estate/office-retail-industrial-properties-underpin-asia-pacific-investment-bonanza

Shun Tak withdraws from $556.7m High Point deal
Hong Kong-listed Shun Tak Holdings has reportedly withdrawn from the collective sale deal for High Point condominium, less than a month after it announced the acquisition. The Business Times reported yesterday that Shun Tak is understood to have forfeited its $1 million tender deposit.
https://www.straitstimes.com/business/property/shun-tak-withdraws-from-5567m-high-point-deal

Treat after treat: i12 Katong mall reopens progressively
A revamped shopping mall in the Katong area has plenty of surprises in store, including Singapore’s first medical co-working space, a live theatre concept by Golden Village as well as a dog club and daycare. The concepts are part of the offerings in the progressive reopening of Keppel Land’s i12 Katong mall, which closed for renovations early last year.
https://www.straitstimes.com/business/treat-after-treat-i12-katong-mall-reopens-progressively

Singapore Economy

Strong festive season for consumer sectors, but cautious optimism for 2022
The festive season has brought cheer after a turbulent year for the hospitality, food and beverage (F&B) and retail sectors. But businesses remain cautiously optimistic heading into 2022, with the rise of the Omicron variant and an uncertain operating environment caused by fluctuating measures.
https://www.businesstimes.com.sg/government-economy/strong-festive-season-for-consumer-sectors-but-cautious-optimism-for-2022-0

VTLs to be economic lifeline in 2022 despite temporary setback
The easing of border controls will be crucial to keep Singapore’s economy chugging along and create more jobs next year when manufacturing, the main pillar of growth in the past two years, is likely to lose some steam.
https://www.straitstimes.com/business/economy/vtls-to-be-economic-lifeline-in-2022-despite-temporary-setback

Singapore factory output rises 14.6% in November amid broad-based growth
The manufacturing sector continues to drive Singapore’s economy and will remain an important engine of growth next year, even as its momentum eases. Manufacturing output rose 14.6 per cent last month from a year ago, after a revised 17 per cent growth in October, according to data released by the Economic Development Board (EDB) yesterday.
https://www.straitstimes.com/business/economy/singapore-factory-output-grows-146-in-november
https://www.businesstimes.com.sg/government-economy/singapore-factory-output-up-by-146-in-november-on-electronics-export-demand

Companies’ Brief

Ascott Residence Trust doubles student accommodation assets with US$213m acquisition
Ascott Residence Trust (ART) will acquire four student accommodation assets with a total of 1,651 beds in the United States for US$213 million (S$291.2 million), managers of the stapled group announced on Monday (Dec 27).
https://www.businesstimes.com.sg/companies-markets/ascott-residence-trust-doubles-student-accommodation-assets-with-us213m
https://www.straitstimes.com/business/companies-markets/ascott-residence-trust-doubles-student-accommodation-assets-with-291m-purchase

Keppel DC Reit to acquire second data centre in London for £57m
Keppel DC Reit s acquiring a data centre in Bracknell, the United Kingdom, which is part of the Greater London urban area, for £57 million (S$105.5 million). The property, which will be named “London Data Centre”, is the real estate investment trust’s (Reit) second acquisition of a data centre in Greater London, and its third in the UK, its manager said on Monday (Dec 27).
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-to-acquire-second-data-centre-in-london-for-%C2%A357m
https://www.straitstimes.com/business/companies-markets/keppel-dc-reit-to-acquire-second-data-centre-in-london-for-1055-million

Despite ‘global’ in its name, LReit more focused on Singapore expansion for now
Lendlease Global Commercial Reit (LReit) has been looking to pick up its pace of growth amid Covid-19, with Australia and Europe key markets of interest, the real estate investment trust (Reit)’s manager told The Business Times.
https://www.businesstimes.com.sg/companies-markets/despite-global-in-its-name-lreit-more-focused-on-singapore-expansion-for-now

Views, Reviews, Forum & Others

Property dispute in Batam leaves some Singaporeans anxious
Singapore – A group of Singaporeans who had bought properties in Batam, hoping they would be able to extend the leases when they were up, are now embroiled in a dispute with Indonesian developers. On Dec 13, the management of Indah Puri Golf Resort sent in heavy machinery to begin demolition work on Block 1 of the 10-block complex.
https://www.straitstimes.com/singapore/property-dispute-in-batam-leaves-some-sporeans-anxious
https://www.straitstimes.com/singapore/sporeans-involved-in-property-dispute-with-indonesian-developers

5 things to note when buying overseas property
Singapore – Property cooling measures have a habit of prompting Singaporeans to cast their eyes at real estate markets overseas, so the same outcome could happen this time. Between 2010 and 2013, new rules imposed to cool the sizzling hot market here saw local buyers snap up residential units in Iskandar Malaysia, Australia, Canada and London.
https://www.straitstimes.com/business/property/5-things-to-note-in-buying-overseas-properties

Split-screen Singapore – what does the future hold?
Should we Singaporeans feel optimistic or pessimistic about the future, especially as we look ahead to 2022? Not an easy question to answer. Our feelings are also influenced by the communities we belong to. And, in this regard, Singapore is a truly unique global city.
https://www.straitstimes.com/asia/split-screen-singapore-what-does-the-future-hold

Hits and misses as cryptocurrency finds a way forward in Singapore
Singapore – This has been a breakout year for cryptocurrency, with the digital asset industry growing faster than ever to a market worth of around US$3 trillion (S$4.1 trillion). But for all the expansion, the future is still unclear, essentially because cryptocurrency is not real money and lacks proven track record as an asset class.
https://www.straitstimes.com/business/companies-markets/hits-and-misses-as-cryptocurrency-finds-a-way-forward-in-singapore

Hedge funds, private equity lure billions from rich Asians
Wealthy Asians are pouring money at a record pace into alternative assets through private banks and high-end investment firms to escape low interest rates and volatile listed markets. The haul at JPMorgan Chase & Co’s private banking arm from Asian clients more than doubled this year to an all-time high.
https://www.businesstimes.com.sg/wealth-investing/hedge-funds-private-equity-lure-billions-from-rich-asians

Preparing for a period change
The US economy has been on a path of sustained post-pandemic recovery that we expect to continue into 2022. US growth remains stronger than other developed markets, supported by healthy consumer spending and strong corporate earnings.
https://www.businesstimes.com.sg/wealth-investing/preparing-for-a-period-change

Global retail’s battle with Covid actually saved its stores
When Covid-19 erupted 21 months ago and upended retailers around the world, it looked like just another chapter in the sad story of an industry’s decline. The reality of the pandemic era, however, hasn’t played out that way.
https://www.businesstimes.com.sg/consumer/global-retails-battle-with-covid-actually-saved-its-stores

Update on COVID-19 (Coronavirus Disease 2019) Situation

209 new COVID-19 cases reported in Singapore; 104 new Omicron infections confirmed
Singapore : Singapore reported 209 new COVID-19 cases as of noon on Sunday (Dec 26), of which 100 were imported. There was also one fatality, taking the country’s death toll from coronavirus complications to 822, according to the latest infection statistics on the Ministry of Health’s (MOH) website.
https://www.channelnewsasia.com/singapore/covid-19-new-cases-deaths-omicron-imported-moh-dec-26-2401641

From Jan 15, unvaccinated workers will not be allowed to return to the workplace even with negative pre-event test
Singapore – From Jan 15 next year, unvaccinated workers will not be allowed to return to the workplace even if they test negative for Covid-19 24 hours beforehand. This move is meant to bolster Singapore’s protection against a large wave of local Omicron cases and keep workplaces here safe, said the Ministry of Health (MOH) on Sunday (Dec 26).
https://www.straitstimes.com/singapore/from-jan-15-unvaccinated-workers-will-not-be-allowed-to-return-to-the-workplace-even-with-negative-pre-event-test

Vaccination a must for approval of new long-term passes, work passes and PRs from Feb 1
Late Sunday (Dec 26) night, Singapore announced several updates to its approach to manage the Omicron variant of Covid-19, including making vaccination “a condition for the approval of new applications for and renewal of existing long-term passes, work passes, as well as permanent residences (PRs)” from Feb 1, 2022.
https://www.businesstimes.com.sg/government-economy/vaccination-a-must-for-approval-of-new-long-term-passes-work-passes-and-prs-from
https://www.straitstimes.com/singapore/covid-19-vaccination-to-be-mandatory-for-approval-of-new-pr-work-student-and-long-term-visit-passes-from-feb-1

Singapore will eventually implement home recovery, self-testing for Omicron patients
Current measures to slow the spread of the Omicron variant – which include placing infected or exposed individuals in designated recovery or quarantine facilities – are temporary, Singapore’s Ministry of Health (MOH) said in a press statement on Sunday (Dec 26).
https://www.businesstimes.com.sg/government-economy/singapore-will-eventually-implement-home-recovery-self-testing-for-omicron
https://www.straitstimes.com/singapore/omicron-cases-will-be-allowed-to-recover-at-home-community-care-facilities-from-dec-27

Omicron cases in S’pore have not been severe, none required intensive care, oxygen supplementation so far
Singapore – None of the Omicron cases in Singapore has been severe so far, and infected individuals have not required oxygen supplementation or intensive care, said the Health Ministry on Sunday night (Dec 26). It acknowledged, however, that this may also be because most cases are fully vaccinated and from younger age groups.
https://www.straitstimes.com/singapore/covid-19-omicron-cases-in-spore-have-not-been-severe-with-none-requiring-intensive-care-or-oxygen-supplementation-so-far

14 active facilities set up for close contacts of Covid-19 cases, 12 more to be converted if needed: MOH
Singapore – Singapore is planning to nearly double the number of designated facilities for close contacts of Covid-19 cases if needed, in preparation for a possible surge in infections due to the Omicron variant.
https://www.straitstimes.com/singapore/14-active-facilities-set-up-for-close-contacts-of-covid-19-cases-12-more-to-be-converted-if-needed-moh

Walk-ins for mRNA booster jabs available for those eligible
People who took their second dose of the Pfizer-BioNTech/ Comirnarty or Moderna vaccine at least five months ago and have not received an SMS to book an appointment can now walk into any vaccination centre for their booster jab.
https://www.straitstimes.com/singapore/health/walk-ins-for-mrna-booster-jabs-available-for-those-eligible

*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