DAILY NEWS

Daily News – 28, 29 & 30 May 2022 (Sat, Sun & Mon)

Singapore Real Estate

3 bold projects to meet Singapore’s needs in the coming decades
Singapore – Shifting Singapore’s civilian airport from Kallang to Paya Lebar, and then to Changi, as well as establishing the MRT network were among the bold moves that previous generations made for the benefit of Singaporeans today.
https://www.straitstimes.com/singapore/3-bold-projects-to-meet-singapores-needs-in-the-coming-decades

How might more PLH flats affect the HDB market?
When the Ministry of National Development (MND) and the Housing & Development Board (HDB) first announced the launch of the Prime Location Housing (PLH) model in October 2021, it was stated that the PLH model would apply to flats built in prime, central locations such as the city centre and the Greater Southern Waterfront.
https://www.businesstimes.com.sg/real-estate/how-might-more-plh-flats-affect-the-hdb-market

HDB considering offering open-plan flats to give home buyers flexibility
Singapore – Home owners could in the future be able to decide if they want their new Housing Board flat to have a home office or larger but fewer bedrooms, with the Government mulling over allowing people to choose their home layout.
https://www.straitstimes.com/singapore/housing/hdb-considering-offering-open-plan-flats-to-give-owners-flexibility-desmond-lee

2,500 prime BTO flats launched; 3 and 4-room units priced at S$369,000-S$737,000
The Housing and Development Board (HDB) launched 4,583 Build-To-Order (BTO) flats on Friday (May 27) across 5 projects, including 1 each in Bukit Merah and Queenstown under the Prime Location Public Housing (PLH) model.
https://www.businesstimes.com.sg/real-estate/2500-prime-bto-flats-launched-3-and-4-room-units-priced-at-s369000-s737000

Majority of Tanglin Halt Sers households moving to Dawson have collected keys to new homes
Singapore – Almost all the households in Tanglin Halt – one of Singapore’s oldest housing estates – that opted for replacement homes in Dawson have collected keys to their flats.
https://www.straitstimes.com/singapore/housing/majority-of-tanglin-halt-sers-households-moving-to-dawson-have-collected-keys-to-new-homes

Condo unit owner ordered to remove unapproved structures
Singapore – A penthouse unit owner was ordered to remove unauthorised works on the roof terrace area by the Strata Titles Board last week, which referred to the case as an apparent “long-running cat-and-mouse game with multiple parties”.
https://www.straitstimes.com/singapore/courts-crime/condo-unit-owner-ordered-to-remove-unapproved-structures

Singapore Economy

Singapore services receipts up 13.2% in Q1
Singapore’s services industries saw business receipts rise 13.2 per cent year on year for the first quarter, according to the Department of Statistics (Singstat) on Friday (May 27). But on a quarter-on-quarter non-seasonally adjusted basis, business receipts were down 1.6 per cent in Q1.
https://www.businesstimes.com.sg/government-economy/singapore-services-receipts-up-132-in-q1

Singapore has been working to secure food supply: PM Lee
The latest global food supply crunch is regrettable, but Singapore has prepared for such disruptions and has been working for several years to secure its supply of food, Prime Minister Lee Hsien Loong said on Friday (May 27).
https://www.businesstimes.com.sg/government-economy/singapore-has-been-working-to-secure-food-supply-pm-lee
https://www.straitstimes.com/asia/east-asia/food-supply-disruptions-regrettable-but-singapore-has-been-building-buffer-of-stocks-diversifying-sources-pm-lee

Companies’ Brief

Bukit Sembawang H2 net profit tumbles 75% on weaker revenue
Property development and investment group Bukit Sembawang Estates on Friday (May 27) posted a 75 per cent fall in net profit to S$29.6 million for the second half ended March 31, 2022. Revenue decreased 75 per cent to S$89.4 million.
https://www.businesstimes.com.sg/companies-markets/bukit-sembawang-h2-net-profit-tumbles-75-on-weaker-revenue

Keppel saved $73m in 2021 from energy-efficient initiatives, aims to make sustainability its business
Singapore – Going green has once again paid off for Keppel Group, with the firm reaping rewards from energy saving initiatives while taking steps to make sustainability its business. Keppel’s annual sustainability report out on Sunday (May 29) noted that these initiatives last year achieved an estimated $73 million or so in cost savings while also avoiding about 123,000 tonnes of carbon dioxide-equivalent in emissions.
https://www.straitstimes.com/business/companies-markets/keppel-saved-73-million-in-2021-from-energy-efficient-initiatives-aims-to-make-sustainability-its-business

KSH Holdings H2 net profit soars to S$14.5m after share of results from associates, JVs
KSH Holdings posted second-half net profit of S$14.5 million on Friday (May 27), up from S$269,000 year on year, after shares of results of associates and joint ventures hit S$19 million compared with a S$2.6 million loss a year ago.
https://www.businesstimes.com.sg/companies-markets/ksh-holdings-h2-net-profit-soars-to-s145m-after-share-of-results-from-associates

Views, Reviews, Forum and Others

The crypto carnage shouldn’t blot out blockchain
This month saw bloodshed in the world of crypto trading, feeding the many voices screaming for disabling the decentralised finance experiment. The US Congress as an example has introduced 50 Bills impacting digital assets, crypto, and the blockchain industry.
https://www.businesstimes.com.sg/opinion/the-crypto-carnage-shouldnt-blot-out-blockchain

Does crypto deserve a place in your investment portfolio?
If you asked a passer-by “what is bitcoin” back in 2017, you would probably have elicited blank stares. Fast forward a mere five years, cryptocurrency or crypto-related news has reached mainstream media, with popular coins such as Bitcoin and Ethereum reaching a recent peak price of around S$80,000 and S$6,000 a coin respectively…
https://www.businesstimes.com.sg/wealth-investing/does-crypto-deserve-a-place-in-your-investment-portfolio

Are Reits really real estate?
The securitisation of real estate in the form of Real Estate Investment Trusts (Reits) entailed the conversion of a capital good into a financial instrument that could be widely traded. From a lumpy, relatively illiquid asset, real estate now enjoys versatility and tradeability similar to that of stocks.
https://www.businesstimes.com.sg/wealth-investing/are-reits-really-real-estate

Singapore banks, tech, Reits favoured by analysts amid growth, inflation concerns
Inflationary pressures and weaker growth are likely to have the biggest impact on equity portfolios in the second half of 2022, analysts and strategists told The Business Times. To mitigate these risks, some have suggested looking to banks and real estate investment trusts (Reits) as potential beneficiaries of higher interest rates.
https://www.businesstimes.com.sg/companies-markets/singapore-banks-tech-reits-favoured-by-analysts-amid-growth-inflation-concerns

Signs of an inflection point for S-Reits with Europe, US office assets
Data for office markets in Europe and the United States (US) are indicating potential signs of recovery. European office occupier activity remains robust and rents resilient in Q1 2022, and Q4 2021 recorded the strongest quarterly leasing volume since Q4 2018 driven by pent-up demand (Knight Frank, Savills).
https://www.businesstimes.com.sg/companies-markets/signs-of-an-inflection-point-for-s-reits-with-europe-us-office-assets

Update on COVID-19 (Coronavirus Disease 2019) situation

Week-on-week infection ratio for Covid-19 falls below 1 for first time in 3 weeks
The number of locally transmitted Covid-19 cases have been falling, with the weekly infection ratio now below 1 for the first time in 3 weeks. The week-on-week infection ratio — which refers to the ratio of community cases for the past week, over the week before — was at 0.98 on Sunday (May 29).
https://www.businesstimes.com.sg/government-economy/week-on-week-infection-ratio-for-covid-19-falls-below-1-for-first-time-in-3-weeks
https://www.straitstimes.com/singapore/week-on-week-infection-ratio-for-covid-19-falls-below-one-for-first-time-in-three-weeks

*For more information, please visit the Ministry of Health (MOH) website atwww.moh.gov.sgand refer togo.gov.sg/mohupdatesfor updates on the COVID-19 (Coronavirus Disease 2019) situation