DAILY NEWS

Daily News – 28 June 2022 (Tue)

Singapore Real Estate

Freehold shophouse along Tyrwhitt Rd for sale at S$7.5 million guide price
A two-storey and attic conservation shophouse sitting on 131 Tyrwhitt Rd has been put up for sale with a guide price of S$7.5 million by Savills Singapore on Monday (Jun 27). The freehold property — comprising two storeys plus attic and a three-storey rear extension — has a floor area of approximately 3,509 square feet, which translates to an average of S$2,137 per square foot (psf) of floor area.
https://www.businesstimes.com.sg/real-estate/freehold-shophouse-along-tyrwhitt-rd-for-sale-at-s75-million-guide-price

Seeing value in non-property businesses owning property
The return on equity (ROE) is a key metric that investors in listed equities focus on. Investors contribute equity to a business and entrust management to use the equity to generate returns. ROE improves when net profit, which is the numerator, is higher, and when the amount of equity, which is the denominator, is lower.
https://www.businesstimes.com.sg/opinion/seeing-value-in-non-property-businesses-owning-property

Marsiling HDB flats’ acquisition: Little to no top-ups for new replacement flats
Singapore – Home owners in the nine Housing Board blocks in Marsiling that are set to be acquired by the Government will need little to no top-ups for new replacement units if they pick the same flat type – though they will have to settle for a smaller floor area.
https://www.straitstimes.com/singapore/housing/marsiling-hdb-flats-acquisition-little-to-no-top-ups-for-new-replacement-flats

Singapore Economy

Singapore’s economy rebounded on decisive policy action, but challenges lie ahead
Singapore’s impressive recovery from the pandemic is outperforming similar economies, with total output exceeding pre-crisis levels last year, but the rebound has also been uneven. Decisive policy responses, like the Jobs Support Scheme, helped minimise economic scarring, while rapid vaccinations and long-standing robust economic fundamentals helped Singapore navigate global challenges.
https://www.businesstimes.com.sg/opinion/singapores-economy-rebounded-on-decisive-policy-action-but-challenges-lie-ahead

Asian rate hikes likely to come in below Fed expectations: Morgan Stanley
Morgan Stanley is estimating Asean, Korea and Taiwan’s central banks to lift policy rates by a cumulative 87.5 basis points (bps) to 225 bps this cycle, which is less than the US Federal Reserve’s expected 350 bps.
https://www.businesstimes.com.sg/asean-business/asian-rate-hikes-likely-to-come-in-below-fed-expectations-morgan-stanley

Fixed-rate mortgages in Singapore seen hurtling towards 3%
Mortgage rates have continued to climb in Singapore as lenders here take their cue from the US Federal Reserve, with some market participants projecting fixed rates close to 3 per cent as inflation forces central banks to keep benchmark interest rates high.
https://www.businesstimes.com.sg/banking-finance/fixed-rate-mortgages-in-singapore-seen-hurtling-towards-3

Companies’ Brief

Brokers’ take: DBS initiates ‘buy’ on Wing Tai, sets S$2.05 target on diversified real estate portfolio
DBS Group Research has initiated coverage on Wing Tai with “buy” at a target price of S$2.05 on the property and retail player’s diversified Asia-Pacific real estate portfolio, DBS said in a report on Monday (Jun 27).
https://www.businesstimes.com.sg/companies-markets/brokers-take-dbs-initiates-buy-on-wing-tai-sets-s205-target-on-diversified-real

Views, Reviews, Forum and Others

The sustainability shift rewriting rules in the payments industry
Plastic pollution is one of the most pressing environmental issues of today, as plastic offers sheer convenience, high availability and low prices. Only 9 per cent of all plastic is recycled, yet it is ubiquitous and remains the workhorse material of the modern economy.
https://www.businesstimes.com.sg/opinion/the-sustainability-shift-rewriting-rules-in-the-payments-industry

Growing interest for alternative investments in Sabah, Johor and Penang: Knight Frank survey
There seems to be a greater risk appetite for alternative investments in Malaysia over the next 2 to 3 years, said property consultancy Knight Frank Malaysia on Monday (Jun 27) as it released the latest sentiment survey on Malaysia’s commercial real estate investment.
https://www.businesstimes.com.sg/asean-business/growing-interest-for-alternative-investments-in-sabah-johor-and-penang-knight-frank

Update on COVID-19 (Coronavirus Disease 2019) situation

No need to tighten Covid-19 measures for now but this cannot be ruled out: Lawrence Wong
There is no need to tighten safe management measures for now but this cannot be ruled out as more Covid-19 infections are reported, said Deputy Prime Minister Lawrence Wong. Stressing the need for vigilance and testing, he announced that all households will receive 10 antigen rapid test kits. Distribution will begin some time next month.
https://www.businesstimes.com.sg/government-economy/no-need-to-tighten-covid-19-measures-for-now-but-this-cannot-be-ruled-out
https://www.straitstimes.com/singapore/no-need-to-tighten-covid-19-measures-for-now-but-this-cannot-be-ruled-out-lawrence-wong

Up to 50 new mobile vaccination sites to open; all can walk in for Covid-19 jabs
Singapore – Up to 50 new Covid-19 mobile vaccination sites will be set up islandwide to make it easier for seniors to get their jabs, with the first three centres opened on Monday (June 27). The three new sites operating from Monday are in Nee Soon in Yishun Central, Telok Blangah and Ansar in Chai Chee.
https://www.straitstimes.com/singapore/up-to-50-new-mobile-vaccination-sites-to-open-all-can-walk-in-for-covid-19-vaccinations

4 cases of adverse reactions among those who took Novavax Covid-19 vaccine, but none serious: HSA
Singapore – There were four cases of adverse reactions out of the 2,792 Novavax Covid-19 vaccine doses administered in Singapore as at May 31 – but they were non-serious, said the Health Sciences Authority (HSA).
https://www.straitstimes.com/singapore/4-cases-of-adverse-reactions-among-those-who-took-novavax-covid-19-vaccine-but-none-serious-hsa

askST: Should you take a Covid-19 booster jab even after getting infected?
Singapore – Singaporeans should still take their Covid-19 booster jabs even if they have been previously infected with the virus, Health Minister Ong Ye Kung said on Monday (June 27) after touring a mobile vaccination centre in Nee Soon Central.
https://www.straitstimes.com/singapore/askst-should-you-take-a-covid-19-booster-jab-even-after-getting-infected

*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