DAILY NEWS

Daily News – 29 September 2021 (Wed)

Singapore Real Estate

Hillview redevelopment site up for collective sale at S$106m indicative price
A rare 999-year leasehold residential redevelopment site at 32-38D Hillview Terrace will be jointly put up for sale by their owners at an indicative price of S$106 million, exclusive marketing agent Colliers said on Wednesday.
https://www.businesstimes.com.sg/real-estate/hillview-redevelopment-site-up-for-collective-sale-at-s106m-indicative-price

Two sites at one-north’s Slim Barracks Rise beat forecasts with 10 bids each
The Urban Redevelopment Authority (URA) has closed the tender for two residential with commercial at first storey land sites at Slim Barracks Rise on Tuesday. Land parcel A, which spans 7,957 square metres (sq m) or 85,648.4 square feet (sq ft) fetched a top bid of S$320.1 million or about S$1245.7 per square foot per plot ratio (psf ppr), exceeding the forecasts of most property consultants.
https://www.businesstimes.com.sg/real-estate/two-sites-at-one-norths-slim-barracks-rise-beat-forecasts-with-10-bids-each
https://www.straitstimes.com/business/property/two-land-parcels-at-one-norths-slim-barracks-rise-fetch-10-bids-each

JTC launches industrial site at Gambas Way for tender
JTC has launched a site at Gambas Way (Plot 3) for tender, it said in a press statement on Tuesday. It is the second of four confirmed list sites for the second half of 2021 under the industrial government land sales (IGLS) programme.
https://www.businesstimes.com.sg/real-estate/jtc-launches-industrial-site-at-gambas-way-for-tender

Singapore Economy

Singapore’s population shrinks 4.1% y-o-y to 5.45m in June 2021 due to Covid-19
Singapore’s population shrank 4.1 per cent between June 2020 and June 2021 to 5.45 million, largely due to the drop in non-residents during the Covid-19 pandemic, according to the annual Population in Brief 2021 report on Tuesday.
https://www.businesstimes.com.sg/government-economy/singapores-population-shrinks-41-y-o-y-to-545m-in-june-2021-due-to-covid-19
https://www.straitstimes.com/singapore/politics/spores-total-population-falls-41-to-545-million-as-covid-19-hits-foreign

Singapore’s hospitality sector gears up for future
Singapore – Hospitality firms are preparing for the new world of travel by launching concept-driven hotels and experimenting with digital tools to make the experience safer and more contactless. Take Far East Hospitality, which opened Oasia Resort Sentosa this month, marking the group’s first foray into the resort and spa category.
https://www.straitstimes.com/business/economy/hospitality-sector-gears-up-for-future

Rise in inquiries, bookings from Germany under vaccinated travel to S’pore
Singapore – German tourists seem to think Singapore might be the ticket for their next holiday going by the enquiries coming in to operators in the beleaguered hospitality industry. The new Vaccinated Travel Lane (VTL) for visitors from Germany which kicked off earlier this month continues to draw substantial interest, say industry players.
https://www.straitstimes.com/business/economy/rise-in-inquiries-bookings-from-germany-under-vaccinated-travel

Companies’ Brief

Singapore should step up to help emerging countries with net-zero transition, says BlackRock CEO
Blackrock chairman and chief executive Larry Fink has called on Singapore to play a pivotal role in helping to facilitate the path towards net-zero emissions, particularly for the emerging world where the impact of the transition will be painful and the need for capital is acute.
https://www.businesstimes.com.sg/companies-markets/singapore-should-step-up-to-help-emerging-countries-with-net-zero-transition-says

Hongkong Land’s share buybacks are not the panacea investors are seeking
Singapore-listed property player Hongkong Land is repurchasing up to US$500 million worth of its shares, following an announcement in early September of the corporate action.
https://www.businesstimes.com.sg/companies-markets/hongkong-lands-share-buybacks-are-not-the-panacea-investors-are-seeking

AA Reit’s Koh Wee Lih to join Keppel Reit manager as CEO
Industry veteran Koh Wee Lih, the outgoing executive director and chief executive officer of the manager of Aims Apac Reit (AA Reit), will be joining the manager of Keppel Reit as its CEO from Dec 1. Keppel Reit’s manager said in a bourse filing on Tuesday that current CEO Paul Tham will step down from his role on Oct 20 “to pursue other opportunities”.
https://www.businesstimes.com.sg/companies-markets/aa-reits-koh-wee-lih-to-join-keppel-reit-manager-as-ceo

Views, Reviews, Forum & Others

Research shows mask wearing checks Covid-19 spread
Masks, especially surgical ones, substantially reduce the risk of getting Covid-19. Getting more people to wear them – through mandates or strategies like handing out masks at churches and other public events – could save thousands of lives each day globally and hundreds each day in the United States.
https://www.businesstimes.com.sg/opinion/research-shows-mask-wearing-checks-covid-19-spread

Economic Affairs: Ripples from the Evergrande crisis
It is now widely accepted that the crisis that has engulfed Evergrande, which is weighed down by more than US$300 billion (S$406 billion) in debt, will spread beyond the Chinese property developer itself. But the question is: how far?
https://www.straitstimes.com/opinion/ripples-from-the-evergrande-crisis

Sell poorly-performing investments, continue to monitor them
Investing is a journey that lasts for years or even decades. As such, notching up a respectable investment performance takes more than just a couple of good decisions.
https://www.businesstimes.com.sg/wealth-investing/sell-poorly-performing-investments-continue-to-monitor-them

Trading China’s policy train
Investors in China equities may feel like they are standing in front of a train wreck. Over the past 12 months, policy intervention has left equity sectors in partial or complete disarray.
https://www.businesstimes.com.sg/wealth-investing/trading-chinas-policy-train

Update on COVID-19 (Coronavirus Disease 2019) Situation

5 seniors die from Covid-19 complications; 2,236 new cases in Singapore
Singapore – Five more people have died from Covid-19 complications in Singapore, the Ministry of Health (MOH) said on Tuesday (Sept 28). They comprised four Singaporean men aged between 69 and 79, and a 77-year-old Singaporean woman.
https://www.straitstimes.com/singapore/covid-19-cases-hit-2236-including-5-who-die-from-complications

Telemedicine providers stretched thin as more people go into home recovery for Covid-19
Singapore – Private telemedicine providers here have been tapped to reinforce the Ministry of Health’s (MOH) handling of Covid-19 patients on home recovery, but many said they are stretched thin and face an influx of calls, with some patients waiting up to an hour to see a doctor.
https://www.straitstimes.com/singapore/health/home-recovery-telemedicine-providers-stretched-thin-but-working-round-the-clock-to

How Covid-19 and other trends hit Singapore’s population – in 8 charts
Singapore – Singapore’s population saw a record fall over the past year as a result of the Covid-19 pandemic, official figures released on Tuesday (Sept 28) showed. The Straits Times looks at some of the key numbers and trends.
https://www.straitstimes.com/singapore/community/how-covid-19-and-other-trends-hit-singapores-population-in-8-charts

F&B, retail outlets in Singapore’s CBD hurt by work-from-home measures
Food and beverage (F&B) and retail players in Singapore’s central business district (CBD) were dealt a heavy blow when the month-long work-from-home directive kicked off on Monday.
https://www.businesstimes.com.sg/sme/fb-retail-outlets-in-singapores-cbd-hurt-by-work-from-home-measures

*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