DAILY NEWS

Daily News – 28, 29 & 30 August 2021 (Sat, Sun & Mon)

Singapore Real Estate

Sales of homes in Sentosa Cove soar to new heights
Singapore – Sales of apartments and houses in Sentosa Cove hit record heights in the first eight months of the year, racking up multimillion-dollar takings in the process. There have been 103 transactions this year until Aug 16 – for 85 condominiums and 18 landed homes – a new benchmark and 84 per cent up on the 43 condos and 13 landed homes sold for all of last year, according to data from the Urban Redevelopment Authority (URA).
https://www.straitstimes.com/business/property/sales-of-homes-in-sentosa-cove-soar-to-new-heights

More Housing Board projects to integrate rental flats, improving inclusivity
Singapore – More integrated Housing Board blocks that mix rental and purchased flats are in the pipeline, as they provide the opportunity to enhance inclusiveness within housing estates, said Minister of State for National Development Muhammad Faishal Ibrahim.
https://www.straitstimes.com/singapore/housing/more-integrated-housing-board-blocks-that-mix-rental-and-purchased-flats-being

Singapore Economy

S’pore can seize opportunities in increasingly digital, green and borderless world: Gan Kim Yong
Singapore – The Republic stands to gain from the new opportunities offered by the worldwide shifts caused or accelerated by the coronavirus pandemic, said Minister for Trade and Industry Gan Kim Yong on Friday (Aug 27).
https://www.straitstimes.com/business/economy/spore-can-seize-opportunities-in-increasingly-digital-green-and-borderless-world

Singapore’s service sector revenue up 16.6% in second quarter
Singapore – The service sector saw double-digit year-on-year growth in the second quarter of 2021, with all segments registering higher business receipts. This rise was partly due to the low base in 2020 with that year’s circuit breaker and other Covid-19 restrictions.
https://www.straitstimes.com/business/economy/singapores-service-sector-revenue-up-166-in-second-quarter

Tech firms ponder impact of tighter work pass rules
Singapore’s toughened criteria towards foreign work pass holders could put the city-state’s tech talent pool under further strain and temporarily dampen expansion plans for some in the industry, but observers reckon this is the right step in easing concerns among Singaporeans.
https://www.businesstimes.com.sg/government-economy/tech-firms-ponder-impact-of-tighter-work-pass-rules

Companies’ Brief

Frasers’ Parc Greenwich EC another test of OCR demand
Frasers Property’s latest executive condominium (EC) project may offer another test of demand for outside of central region (OCR) properties. The pricing attention comes as in July, the launch weekend of Pasir Ris 8 condominium saw six rounds of price increases in a single day.
https://www.businesstimes.com.sg/real-estate/frasers-parc-greenwich-ec-another-test-of-ocr-demand

10 S-Reits yielding long-term annualised returns
The 10 best performing S-Reits and property trusts with over a 10-year listing history have averaged 12.5 per cent in 10-year annualised total returns. On an absolute basis across the 10-year period, these 10 trusts have generated total returns averaging 240 per cent as Reits continue to be an asset class of choice for the longer horizon.
https://www.businesstimes.com.sg/companies-markets/10-s-reits-yielding-long-term-annualised-returns

Views, Reviews, Forum & Others

Equity equals success
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore
A light-touch anti-gender discrimination legislation to set a new tone for the future of Singapore women at the workplace may be timely. In a manpower- and talent-scarce nation, it makes sense to empower women to exercise their fullest potential at home, work and in society, free of discrimination.
https://www.businesstimes.com.sg/views-from-the-top/equity-equals-success

Tackling issues along the road ahead
Prime Minister Lee Hsien Loong’s National Day Rally speech yesterday laid out the broad picture for Singapore as it makes its way into the endemic phase of the coronavirus pandemic. PM Lee took up sensitive social issues whose contours have been sharpened by the stresses brought about by Covid-19.
https://www.straitstimes.com/opinion/st-editorial/tackling-issues-along-the-road-ahead

Fresh hope for hard-hit tourism sector
Singapore’s cautious reopening of borders must be welcome news for a hard-hit tourism sector. Visitor arrivals fell by 85.7 per cent last year and tourism receipts plunged 78.4 per cent in the first three quarters of last year. Like many other sectors, travel companies have had to speed up digitalisation plans and turn to hybrid programmes to keep going as countries closed their borders.
https://www.straitstimes.com/opinion/st-editorial/fresh-hope-for-hard-hit-tourism-sector

Getting a quarantine waiver is the new luxury in travel these days
On Wednesday, I boarded my first flight in over a year, from Hong Kong to Singapore. That made me feel like a superstar, a la Hollywood actress Nicole Kidman who was given the green light to skip quarantine when she arrived in Hong Kong earlier this month to film a new TV series.
https://www.businesstimes.com.sg/opinion/getting-a-quarantine-waiver-is-the-new-luxury-in-travel-these-days

Bitcoin’s 60% rally from July lows may be running out of steam
Bitcoin topped US$50,000 earlier this week for the first time since May as crypto prices continued an ongoing recovery from a disorderly rout just three months ago. But the burst above the US$50,000 level didn’t last long, and chart patterns signal its rally since July is at risk of fading.
https://www.businesstimes.com.sg/wealth-investing/bitcoins-60-rally-from-july-lows-may-be-running-out-of-steam

A weighty and unique Rally that dealt with a trio of delicate subjects
The annual National Day Rally – the most important political speech of the year in Singapore – is a platform for the prime minister to address the nation and articulate his views on important policy matters and the challenges facing the country.
https://www.businesstimes.com.sg/government-economy/a-weighty-and-unique-rally-that-dealt-with-a-trio-of-delicate-subjects
https://www.straitstimes.com/singapore/politics/national-day-rally-2021-a-singapore-style-approach-to-bridge-fault-lines

With Covid-19 under control, Singapore must now refocus on the future: PM Lee
While this year’s National Day Rally was shorn of bumper packages, it was nonetheless a blueprint for the future, with announcements that reflect what Singapore aspires to be – a society that values lower-wage workers, remains open to foreigners, and prizes racial and religious harmony.
https://www.businesstimes.com.sg/government-economy/with-covid-19-under-control-singapore-must-now-refocus-on-the-future-pm-lee

Buy now, pay later: just how risky is it for consumers?
There has been much talk over the risk of buy now, pay later (BNPL) solutions on consumer debt, with such schemes appearing to prey mainly on credit-starved Gen Zs. In Singapore, there are concerns that even the broader millennial segment (aged 25 to 40) with access to credit cards may fall into overspending traps laid by BNPL – essentially interest-free instalment plans for everyday items – and impede their longer-term financial goals.
https://www.businesstimes.com.sg/banking-finance/money-playbook/buy-now-pay-later-just-how-risky-is-it-for-consumers

Update on COVID-19 (Coronavirus Disease 2019) Situation

2 new Covid-19 clusters at Boon Lay bus interchange and Pioneer dormitory
Singapore – Two new Covid-19 clusters were reported on Sunday (Aug 29), one linked to Boon Lay Bus Interchange staff and another to a dormitory in Neythal Road. The Boon Lay Bus Interchange cluster has seven new cases, bringing its total to 15. It is the seventh active cluster involving staff at a bus interchange.
https://www.straitstimes.com/singapore/health/2-new-covid-19-clusters-at-boon-lay-bus-interchange-and-pioneer-dormitory

All households to receive six COVID-19 self-test kits via mail from Aug 28
Singapore: A package of six DIY antigen rapid test (ART) kits will be distributed to all households from Aug 28 to Sep 27 via SingPost, as part of Singapore’s strategy to step up COVID-19 testing efforts. On top of this, ART kits will also be given to all students and employees of pre-schools, Ministry of Education (MOE) Kindergartens, early intervention centres, primary schools and special education schools (primary and junior sections).
https://www.channelnewsasia.com/singapore/covid-19-antigen-rapid-test-kits-households-pre-schools-primary-schools-moh-2139756
https://www.straitstimes.com/singapore/health/covid-19-rapid-test-kits-to-be-distributed-nationwide-in-singapore

Singapore hits 80% vaccine threshold seen as key to easing
Singapore has outpaced most advanced economies to fully vaccinate 80 per cent of its population against Covid-19, paving the way for the small but wealthy city-state to forge ahead with reopening in an approach that’s closely watched by the rest of the world still figuring out how to live with the virus.
https://www.businesstimes.com.sg/government-economy/singapore-hits-80-vaccine-threshold-seen-as-key-to-easing
https://www.businesstimes.com.sg/government-economy/singapore-hits-80-vaccine-threshold-seen-as-key-to-easing

First batch of Sinopharm Covid-19 vaccine available from Aug 30 in Singapore
Singapore – The first batch of the Sinopharm Covid-19 vaccine will be available at some hospitals and clinics from Monday (Aug 30). People can book an appointment at healthcare firm Clearbridge Health’s Medic Surgical and Laser Clinic at Tanjong Pagar Plaza from Saturday, and it will begin administering the vaccine on Monday.
https://www.straitstimes.com/singapore/health/first-batch-of-sinopharm-covid-19-vaccines-available-from-aug-30

Plan to let migrant workers into community still on hold after new Covid-19 clusters in dorms over past month
Singapore – A pilot programme to allow migrant workers living in dormitories back into the community remains on hold, 16 months after movement restrictions were introduced to curb the spread of Covid-19.
https://www.straitstimes.com/singapore/plan-to-let-migrant-workers-into-community-still-on-hold

Changi Airport Terminal 1 and 3 to reopen to the public from Sept 1
Singapore – Changi Airport will reopen Terminals 1 and 3 to the public from next Wednesday (Sept 1), following a three-month closure due to the Covid-19 pandemic. Extra precautions are now in place to segregate arriving travellers from the public, with traveller numbers expected to increase as Singapore gradually eases its border restrictions.
https://www.straitstimes.com/singapore/transport/changi-airport-terminal-1-and-3-to-reopen-to-the-public-from-sept-1

*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