DAILY NEWS

Daily News – 29 December 2021 (Wed)

Singapore Real Estate

GCB deals volume set to ease, but prices expected to remain firm
After a blockbuster year, the volume of bungalow deals in Good Class Bungalow (GCB) Areas is set to ease in 2022 as much of the supply available for sale has been taken off the market following the strong sales momentum between the fourth quarter of 2020 and Q3 2021.
https://www.businesstimes.com.sg/real-estate/gcb-deals-volume-set-to-ease-but-prices-expected-to-remain-firm

Developers, en-bloc hopefuls will need to meet in the middle in the wake of cooling measures
Poised to close 2021 on a high, the property sector was set for a holly, jolly Christmas after blithely shrugging off two Covid-19 variants and multiple headwinds in the construction sector this year. Instead, it got a lump of coal, as one analyst put it.
https://www.businesstimes.com.sg/companies-markets/developers-en-bloc-hopefuls-will-need-to-meet-in-the-middle-in-the-wake-of-cooling

Singapore Economy

Higher living costs unlikely to dent Singapore’s attractiveness as a business hub: Analysts
Singapore – Living costs have been on the rise in Singapore over the past year, but issues such as higher accommodation and transport costs are unlikely to put a dent in the Republic’s overall competitiveness. This is given that Singapore has traditionally competed on intangibles such as trust, efficiency and value-added services, analysts said, noting that higher inflation is unlikely to derail the country’s overall economic growth picture for 2022.
https://www.straitstimes.com/business/economy/higher-living-costs-unlikely-to-dent-spores-attractiveness-as-a-business-hub-analysts

Companies’ Brief

CDL appoints new group COO, announces changes to board
Property developer City Developments Ltd (CDL) announced that it has appointed its current group chief strategy officer Kwek Eik Sheng to be the group’s chief operating officer (COO) from Jan 1, 2022. CDL also announced that Philip Yeo Liat Kok will be redesignated as a non-independent director from Jan 1, 2022, having served more than 9 years on the board.
https://www.businesstimes.com.sg/companies-markets/cdl-appoints-new-group-coo-announces-changes-to-board
https://www.straitstimes.com/business/companies-markets/cdl-appoints-kwek-eik-sheng-new-group-coo-makes-changes-to-board

Views, Reviews, Forum & Others

A bumpy year ahead for economies and markets
More Covid-19 infection, higher inflation, uncertain and uneven economic recoveries and more volatile financial markets. That’s a reasonable guess of what is likely to play out next year, barring inevitable surprises, both pleasant and not.
https://www.straitstimes.com/opinion/a-bumpy-year-ahead-for-economies-and-markets

Leading climate strategy from the board
With the Glasgow Climate Pact, nearly 200 countries agreed to strengthen their targets for cutting greenhouse gas emissions. As a result, companies around the world must act – and their boards must show leadership. How have directors coped with climate change to date?
https://www.businesstimes.com.sg/opinion/leading-climate-strategy-from-the-board

Lessons for digital transformation
Before the pandemic, a digital transformation was already at the top of the agenda for many chief executive officers (CEOs). To meet the demands of an evolving market and consumer trends, companies across industries understood that a digital transformation…
https://www.businesstimes.com.sg/opinion/lessons-for-digital-transformation

Here’s how the manufacturing sector will be impacted in 2022
The unpredictability of 2020 and 2021 has shown that in order to thrive, businesses need to be able to innovate and adapt at scale and speed. Like every other industry, the manufacturing sector has felt the effects of the Covid-19 pandemic, pushed to go digital as businesses went through a phase of constant transformation over the past year due to cities going into lockdowns, restricted air and sea travels, and declines in supply demand.
https://www.businesstimes.com.sg/opinion/heres-how-the-manufacturing-sector-will-be-impacted-in-2022

Preparing to live with Omicron
Omicron cases or close contacts of these cases can now recover under the home recovery programme, or be managed at community care facilities and hospitals, instead of being isolated at dedicated facilities. Those who are unwell will be processed based on both symptoms and physical signs, and underlying risk factors.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-preparing-to-live-with-omicron

Keeping buildings cool in a warming climate
Bring up green solutions, and most people think of electric vehicles and solar panels. Far less attention is paid to the reduction of emissions by increasing energy efficiency. Yet, as Singapore attempts to reduce its carbon footprint, the carbon emissions of buildings will come into greater focus.
https://www.businesstimes.com.sg/energy-commodities/green-business/keeping-buildings-cool-in-a-warming-climate

Update on COVID-19 (Coronavirus Disease 2019) Situation

Makes sense to live with Omicron and treat it as no different from other Covid-19 variants: Experts
Singapore – It makes sense to treat the Omicron variant as no different from other existing and past Covid-19 variants, said experts, since evidence has shown that the new strain is likely to be more transmissible but less severe than the Delta variant.
https://www.straitstimes.com/singapore/health/makes-sense-to-live-with-omicron-and-treat-it-as-no-different-from-other-covid-19-variants-experts

More than 90 Covid-19 quick test centres set up, including at dental clinics and Marina Bay Sands
Singapore – To make Covid-19 testing more convenient, travellers and front-line workers can now take supervised self-administered antigen rapid tests (ARTs) at more than 90 locations, including at dental clinics and Marina Bay Sands.
https://www.straitstimes.com/singapore/health/more-than-90-covid-19-quick-test-centres-set-up-including-at-dental-clinics-and-marina-bay-sands

Waiting for free Covid-19 masks? Vending machines rolled out ahead of distribution from Jan 10-23
Singapore – New mask distribution machines are being installed islandwide ahead of Temasek Foundation’s sixth distribution exercise next month to protect residents against Covid-19. Residents can claim their free masks from the vending machines from Jan 10 to 23.
https://www.straitstimes.com/singapore/health/waiting-for-free-covid-19-masks-vending-machines-rolled-out-ahead-of-distribution-from-jan-10-23

*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