DAILY NEWS

Daily News – 30 June 2021 (Wed)

Singapore Real Estate

Tender for Jalan Anak Bukit site closes below expectations with just five bids
A state tender for the 99-year leasehold commercial and residential site at Jalan Anak Bukit came in below expectations when it closed on Tuesday with just five bids – of which three were joint bids by the same duo. Far East Organization and Sino Group appear bent on clinching the tender…
https://www.businesstimes.com.sg/real-estate/tender-for-jalan-anak-bukit-site-closes-below-expectations-with-just-five-bids
https://www.straitstimes.com/business/property/jalan-anak-bukit-tender-closes-with-five-bids

Ministry of Law refines shareholding interest criteria for QC exemptions
Shares of publicly listed housing developers that are held by Singapore shareholders through white-listed nominee companies may now be counted towards fulfilling the requirements for exemption from the Qualifying Certificate (QC) regime, the Ministry of Law (MinLaw) and Singapore Land Authority (SLA) said on Tuesday.
https://www.businesstimes.com.sg/real-estate/ministry-of-law-refines-shareholding-interest-criteria-for-qc-exemptions

JTC launches Jalan Papan industrial site for tender
JTC on Tuesday launched one site at Jalan Papan (Plot 4) for tender. The site is the last of three Confirmed List sites for the first half of the 2021 industrial government land sales programme. Confirmed list sites are launched according to schedule regardless of demand.
https://www.businesstimes.com.sg/real-estate/jtc-launches-jalan-papan-industrial-site-for-tender

Singapore Economy

Singapore still in ‘transition’: Lawrence Wong
Before Singapore reaches the “new normal” of living with endemic Covid-19, which will require high vaccination rates, the country remains in a transition phase, Finance Minister Lawrence Wong said at a dialogue organised by the Singapore Business Federation (SBF) on Tuesday.
https://www.businesstimes.com.sg/government-economy/singapore-still-in-transition-lawrence-wong
https://www.straitstimes.com/singapore/jobs/minister-warns-against-opening-up-without-high-vaccine-coverage

S’pore, Latin American bloc to ink FTA by end-2021
Singapore will sign a free trade agreement (FTA) by the end of this year with the Pacific Alliance (PA), a trading bloc of four Latin American nations – Chile, Colombia, Mexico and Peru. Minister of State for Trade and Industry Alvin Tan said yesterday the agreement will enable businesses on both sides…
https://www.straitstimes.com/business/economy/spore-latin-american-bloc-to-ink-fta-by-end-2021

Companies’ Brief

Tricia Song, Linda Chern to join property consulting group CBRE
CBRE is hiring Tricia Song as its head of research for South-east Asia and Linda Chern as head of residential services for Singapore. Ms Chern joins the property consulting group on July 1. A 20-year verteran in the property industry specialising in the residential sector, she is moving from Knight Frank.
https://www.businesstimes.com.sg/real-estate/tricia-song-linda-chern-to-join-property-consulting-group-cbre

Oxley to sell overseas property for S$100m
A wholly-owned subsidiary of property developer Oxley: 5UX 0% has entered into an agreement to sell a piece of its land overseas for around S$100 million, it said on Wednesday in a stock exchange filing. The property has a book value of around S$60 million…
https://www.businesstimes.com.sg/companies-markets/oxley-to-sell-overseas-property-for-s100m
https://www.straitstimes.com/business/companies-markets/oxley-to-sell-overseas-property-for-100-million

Singapore-based Princeton Digital invests US$1b to build 97MW data centre campus in Japan
Singapore-based data centre provider Princeton Digital Group (PDG) on Tuesday announced that it is investing US$1 billion to build a 97 megawatt (MW) data centre campus in Japan, marking its entry into the market.
https://www.businesstimes.com.sg/real-estate/singapore-based-princeton-digital-invests-us1b-to-build-97mw-data-centre-campus-in-japan

UOB loses case against developer
UOB has lost the legal battle against Indonesian developer Lippo Marina Collection (LMC) in its bid to recover the losses and damages it suffered from disbursing about $182 million in inflated home loans. High Court judge Aedit Abdullah on Monday dismissed all claims against LMC…
https://www.straitstimes.com/business/banking/uob-loses-case-against-developer
https://www.businesstimes.com.sg/companies-markets/uob-loses-suit-against-lippo-but-plans-to-appeal

EHT unitholders file lawsuit against manager’s board, claiming shortfalls in disclosure
Two investors of the beleaguered Eagle Hospitality Trust (EHT) are suing six of its manager’s former and current directors for failing to make material disclosures from the time the stapled securities were offered to when the trust collapsed in or around March 2020.
https://www.businesstimes.com.sg/companies-markets/eht-unitholders-file-lawsuit-against-managers-board-claiming-shortfalls-in

Views, Reviews, Forum & Others

ESG factors are a ‘must have’ for all M&A transactions
Environmental, social, and governance (ESG) frameworks are no longer a “good to have” but a “must have” for every corporation, reflecting the realisation that businesses have a greater role to play beyond merely making profits.
https://www.businesstimes.com.sg/opinion/esg-factors-are-a-must-have-for-all-ma-transactions

Ways to ‘build back better’ for East Asia
“Build back better”, which yields more than two billion search results on Google, is the slogan of our time. United States President Joe Biden used it for his presidential campaign. Deputy Prime Minister Heng Swee Keat referred to it in a national broadcast last year.
https://www.straitstimes.com/opinion/ways-to-build-back-better-for-east-asia

ESG investments performing better than traditional ones: study
THE Covid-19 pandemic may have spurred a greater shift towards more sustainable investing, but investors themselves are also beginning to realise that such investments are yielding better returns than traditional ones.
https://www.businesstimes.com.sg/wealth-investing/esg-investments-performing-better-than-traditional-ones-study

New healthcare system to be set up for migrant workers in S’pore; 6 medical centres planned
Singapore – From as early as November, a new system will be rolled out to provide primary healthcare for migrant workers here and reduce the risks of future disease outbreaks through active surveillance. Tender documents published by the Ministry of Manpower (MOM) on Monday (June 28)…
https://www.straitstimes.com/singapore/six-medical-centres-for-migrant-workers-in-new-healthcare-system-to-come

Safety time-out after recent spate of fatal work accidents
The Workplace Safety and Health (WSH) Council and six trade associations last week called for a safety time-out, after a recent spate of fatal workplace accidents. Associations in the construction, marine, process engineering, manufacturing, transport and logistics industries have called on over 10,700 of their members to take time to review their safety controls and work methods, among other measures.
https://www.straitstimes.com/singapore/safety-time-out-after-recent-spate-of-fatal-work-accidents

Singapore merger and acquisition activity hits record-high in H1 2021
Mergers and acquisitions (M&As) in Singapore burgeoned to record highs in the first half of this year, almost doubling the values registered in the same period last year. Latest numbers from Refinitiv showed Singapore-announced M&A activity grew 82.4 per cent year on year to US$80.9 billion in the first six months of 2021 – the highest semiannual period on record.
https://www.businesstimes.com.sg/companies-markets/singapore-merger-and-acquisition-activity-hits-record-high-in-h1-2021

How to invest through high inflation
Is high inflation coming? If so, what stocks should investors be buying? Of late, this is a hot topic in the investment industry. Earlier this month, strategists from the US-based investment research and brokerage firm Bernstein Research said: “There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios.”
https://www.businesstimes.com.sg/wealth-investing/how-to-invest-through-high-inflation

Learning from past crises is key for investors
The year 2020 was one of extraordinary change for investors. After a relative period of calm, the Covid-19 pandemic brought the sort of disruption that we haven’t seen since the global financial crisis, the Asian financial crisis and the dotcom bubble.
https://www.businesstimes.com.sg/wealth-investing/learning-from-past-crises-is-key-for-investors

Update on COVID-19 (Coronavirus Disease 2019) Situation

5 new locally transmitted Covid-19 cases in Singapore, all linked
Three community Covid-19 cases announced on Tuesday were linked to the cluster at Changi General Hospital. It has 13 cases, up from 10. The remaining two cases were linked to the cluster at Block 105 Henderson Crescent and a cluster linked to an 81-year-old retiree, said the Ministry of Health (MOH).
https://www.businesstimes.com.sg/government-economy/5-new-locally-transmitted-covid-19-cases-in-singapore-all-linked
https://www.straitstimes.com/singapore/health/5-new-local-infections-3-of-them-linked-to-hospital-cluster

Infected TV installer had no direct contact with staff, says Best Denki
A television installer who was infected with Covid-19, did not have direct contact with Best Denki staff, said the electronics retail company yesterday. In a Facebook post, Best Denki said the man is an employee of Funbiz Marketing, a third-party contractor providing television installation services.
https://www.straitstimes.com/singapore/infected-tv-installer-had-no-direct-contact-with-staff-says-best-denki

Malls in Singapore roll out SafeEntry Gateway boxes for checking out
Singapore – SafeEntry Gateway boxes that allow visitors to easily check out of venues have been rolled out at malls, supermarkets and other places with high traffic. This is to help the authorities pinpoint instances of Covid-19 exposure more accurately.
https://www.straitstimes.com/singapore/health/malls-roll-out-safeentry-gateway-boxes-for-checking-out

MOH to stop giving details of Covid-19 community cases
The Ministry of Health (MOH) will no longer disclose details of each new Covid-19 case detected in the community as the country moves towards a new phase of battling the pandemic, it said in a statement yesterday.
https://www.straitstimes.com/singapore/health/moh-to-stop-giving-details-of-covid-19-community-cases-0

Nearly 8 in 10 S’poreans aged 12 to 39 have vaccine slots or had first jab
Almost 80 per cent of Singaporeans aged between 12 and 39 have booked an appointment to get the Covid-19 vaccine or taken their first dose, after the opening of 500,000 slots. Health Minister Ong Ye Kung said in a Facebook post yesterday evening that there are some 700,000 Singaporeans in this age group in total, including students.
https://www.straitstimes.com/singapore/health/nearly-8-in-10-sporeans-aged-12-to-39-have-vaccine-slots-or-had-first-jab

S’pore shortens jab intervals as it ramps up vaccination
The vaccination drive is gathering momentum and residents have been invited to take their jabs ahead of schedule. All eligible individuals can now get their second dose of the Covid-19 vaccine within four weeks of the first, down from the six-to eight-week interval flagged earlier.
https://www.straitstimes.com/singapore/health/spore-shortens-jab-intervals-as-it-ramps-up-vaccination

Moderna’s Covid-19 vaccine supplies to Asian region nearly maxed out for 2021
Zuellig Pharma, Moderna’s supply partner for Covid-19 vaccines in South-east Asia, said on Tuesday that regional orders for the mRNA vaccine were almost fully booked for this year, highlighting procurement challenges for countries slow off the mark.
https://www.businesstimes.com.sg/government-economy/modernas-covid-19-vaccine-supplies-to-asian-region-nearly-maxed-out-for-2021

Singapore inks advance purchase deal with GSK for Covid-19 drug sotrovimab
Singapore has inked a deal with drug-maker GlaxoSmithKline Singapore and clinical-stage immunology firm Vir Biotechnology for the supply of a medication for patients with mild to moderate Covid-19. The advance purchase agreement is for the supply of sotrovimab, an investigational single-dose monoclonal antibody administered through intravenous infusion, GSK Singapore said in a statement on Wednesday.
https://www.businesstimes.com.sg/government-economy/singapore-inks-advance-purchase-deal-with-gsk-for-covid-19-drug-sotrovimab

Worried by Delta Covid-19 variant, WHO officials urge vaccinated people to keep wearing masks
Geneva (Nytimes) – World Health Organisation (WHO) officials, concerned about the easing of precautions meant to stop the spread of the coronavirus even as the most contagious variant to date has emerged, have urged even fully vaccinated people to continue wearing masks and keep taking other measures to prevent infection.
https://www.straitstimes.com/world/europe/worried-by-delta-variant-who-officials-urge-vaccinated-people-to-keep-wearing-masks

*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