DAILY NEWS

Daily News – 29 April 2022 (Fri)

Top Story

‘People parking lot’ installation in Paya Lebar wins URA-REDAS competition
Singapore – An installation in Paya Lebar inviting people to “park” themselves in frames of poses such as cycling and holding hands has won a competition for breathing life into public spaces. The public can also draw on whiteboards in the shape of speech bubbles that are attached to the frames, which are dubbed “people parking lots”.
https://www.straitstimes.com/singapore/community/people-parking-lot-installation-in-paya-lebar-wins-ura-redas-competition
https://www.channelnewsasia.com/watch/couple-wins-ura-competition-turn-atrium-spaces-social-areas-video-2654001?cid=internal_mcdrecs_29042022_cna#mdcrecs_s

Singapore Real Estate

Q1 luxury non-landed market slowed by 45.5% quarter-on-quarter: Huttons
Measures to cool the local property market led the luxury non-landed segment to slow down by 45.5 per cent quarter on quarter in Q1 2022 and 17.3 per cent year on year, said Huttons Asia in its latest report on the luxury and Good Class Bungalow (GCB) market released on Thursday (Apr 28).
https://www.businesstimes.com.sg/real-estate/q1-luxury-non-landed-market-slowed-by-455-quarter-on-quarter-huttons

HDB resale prices rise for 8th straight quarter, up 2.4% in Q1
Housing Board (HDB) resale prices rose for the eighth consecutive quarter in the first quarter of 2022, up 2.4 per cent from the fourth quarter of 2021, HDB announced on Friday (Apr 22). According to ERA Realty head of research and consultancy Nicholas Mak, prices were driven by appreciation in larger flats.
https://www.businesstimes.com.sg/real-estate/hdb-resale-prices-rise-for-8th-straight-quarter-up-24-in-q1

Singapore Economy

Prices of food, electricity and gas to continue rising in Singapore: MAS
Singapore – Going grocery shopping might soon burn an even bigger hole in consumers’ pockets, as prices of non-cooked food such as seafood and meat is expected to continue rising even beyond this year as a result of global shocks, a review by the Monetary Authority of Singapore (MAS) showed on Thursday (April 28).
https://www.straitstimes.com/business/economy/prices-of-food-electricity-and-gas-to-continue-rising-in-singapore-mas

Singapore employment grows by 41,100 in Q1 2022 as construction workers return
Singapore employment levels continued to expand in the first 3 months of 2022, on the back of a rebound in foreign workers – mainly in the construction sector. Total employment grew by 41,100 on the quarter before, excluding migrant domestic workers, the Ministry of Manpower (MOM) said in a preliminary report on Thursday (Apr 28).
https://www.businesstimes.com.sg/government-economy/singapore-employment-grows-by-41100-in-q1-2022-as-construction-workers-return

Foreign workers to drive job growth in 2022 as Singapore economy reopens
Non-resident job growth is expected to outpace local employment gains in 2022, analysts have told The Business Times, even as the tight Singapore labour market should add jobs across the board through the year, on the back of a broad domestic and border reopening.
https://www.businesstimes.com.sg/government-economy/foreign-workers-to-drive-job-growth-in-2022-as-singapore-economy-reopens
https://www.straitstimes.com/singapore/jobs/singapore-steps-up-hiring-of-foreign-labour-in-q1-as-it-gradually-reopens-borders

NTUC commits S$16m to help members defray food costs amid rising prices
The labour movement will be committing nearly S$16 million for a slew of initiatives by NTUC Social Enterprises that are designed to help members defray food costs amid rising inflation that last month hit a 10-year high.
https://www.businesstimes.com.sg/government-economy/ntuc-commits-s16m-to-help-members-defray-food-costs-amid-rising-prices

Singapore 3rd in global ranking on government effectiveness
Singapore – Singapore came in third around the world and first in Asia, in a global ranking that tracks the effectiveness of government. It is the only Asian country in the Chandler Good Government Index’s top 10, which was dominated by European countries such as Finland in first place, and Switzerland in second place.
https://www.straitstimes.com/singapore/politics/singapore-3rd-in-global-ranking-on-government-effectiveness

Companies’ Brief

LHN Logistics debuts on Catalist at S$0.205; 2.5% above IPO price
The logistics arm of LHN Limited, LHN Logistics, made its trading debut on the Singapore Exchange’s Catalist board on Friday (Apr 29) 2.5 per cent or S$0.005 above its initial public offering (IPO) price of S$0.20.
https://www.businesstimes.com.sg/companies-markets/lhn-logistics-debuts-on-catalist-at-s0205-25-above-ipo-price

Visitor numbers to drive recovery at Marina Bay Sands Singapore
The growing tally of visitors is expected to drive recovery for Marina Bay Sands Singapore. The resort hotel generated positive earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter ended Mar 31, owner and operator Las Vegas Sands reported on Wednesday (Apr 27).
https://www.businesstimes.com.sg/real-estate/visitor-numbers-to-drive-recovery-at-marina-bay-sands-singapore

Ascott Residence Trust Q1 RevPAU up 22% on higher average daily rates, occupancy
Hospitality trust Ascott Residence Trust (ART) said its portfolio revenue per available unit (RevPAU) rose 22 per cent on year to S$67 for its first quarter ended March, from S$55 a year ago. In a business update on Friday (Apr 29), the manager of the real estate investment trust (Reit) said this was driven by an increase in average daily rates and occupancy.
https://www.businesstimes.com.sg/companies-markets/ascott-residence-trust-q1-revpau-up-22-on-higher-average-daily-rates-occupancy

CDL Hospitality Trusts’ net property income jumps 22.5% in Q1
With the easing of Covid-19 travel restrictions driving higher occupancies, CDL Hospitality Trusts (CDLHT) recorded a 22.5 per cent increase in net property income (NPI) to S$24.2 million for the first quarter of 2022 ending March 31, 2022, compared to the same period a year ago.
https://www.businesstimes.com.sg/companies-markets/cdl-hospitality-trusts-net-property-income-jumps-225-in-q1
https://www.straitstimes.com/business/companies-markets/cdl-hospitality-trusts-q1-net-property-income-jumps-225-with-easing-of-covid-19-curbs

Frasers Hospitality Trust’s net property income up 18.4%, DPS soars in H1
Frasers Hospitality Trust’s (FHT) distribution per stapled security (DPS) soared to 0.7039 Singapore cent from 0.179 cent a year ago for H1 FY2022 ended Mar 31. Gross revenue was up 10.4 per cent year on year to S$44.1 million for the half-year period, from S$39.9 million a year ago.
https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-trusts-net-property-income-up-184-dps-soars-in-h1

Mapletree Logistics Trust posts 5% rise in Q4 DPU to S$0.02268
The manager of Mapletree Logistics Trust (MLT) has reported distribution per unit (DPU) of S$0.02268 for the fourth quarter ended March, up 5 per cent from DPU of S$0.02161 in the year-ago period, despite an enlarged unit base.
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-posts-5-rise-in-q4-dpu-to-s002268

Starhill Global Reit reports NPI up 8.7% to S$38.5m in Q3
Starhill Global Reit posted a net property income (NPI) of S$38.5 million for its third fiscal quarter, up 8.7 per cent from S$35.4 million the year before. Revenue was up 4.2 per cent to S$48.4 million in the quarter ended Mar 31, 2022, from S$46.4 million in the year ago period.
https://www.businesstimes.com.sg/real-estate/starhill-global-reit-reports-npi-up-87-to-s385m-in-q3

Views, Reviews, Forum and Others

Risks cloud positive economic outlook
After a challenging period during the Covid-19 pandemic in 2020, the Singapore economy bounced back last year and is now consolidating its recovery. But it could face a fresh set of headwinds in the wake of the Russia-Ukraine war, including persistent inflationary pressures, monetary tightening and new supply chain strains.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-risks-cloud-positive-economic-outlook

Grocery price comparison app to feature unit prices of items to help fight shrinkflation
Singapore – Consumers on a popular grocery price comparison platform can soon use it to scrutinise the unit prices of similar items – such as milk or potato chips from different brands – by their weight or volume, in an effort to tackle shrinkflation.
https://www.straitstimes.com/business/grocery-price-comparison-app-to-feature-unit-prices-of-items-to-help-fight-shrinkflation