DAILY NEWS

Daily News – 29, 30 & 31 January 2022 (Sat, Sun & Mon)

Singapore Real Estate

Singapore office rents poised to improve in 2022
After bottoming out in 2021, office rents in the central region are expected to improve further this year on the back of an improving economy and tight supply. Rentals of office space ticked up 0.9 per cent in the fourth quarter of 2021 over the previous 3 months, reversing from a 3.5 per cent decline in the previous quarter.
https://www.businesstimes.com.sg/real-estate/singapore-office-rents-poised-to-improve-in-2022
https://www.straitstimes.com/business/property/singapore-office-rents-edge-up-09-in-q4-rise-19-in-2021

Singapore Economy

What it will cost to get to net-zero
The story of human progress is a heartening one. People everywhere are living longer, healthier and more prosperous lives. Consider: In Singapore in 1960, life expectancy was 65 years; now it is more than 83. Per capita GDP in Singapore has risen from US$24,000 in 2000 to almost US$60,000 in 2020.
https://www.businesstimes.com.sg/government-economy/what-it-will-cost-to-get-to-net-zero

Tax policy plays crucial role in averting climate crisis
To effectively battle climate change, radical transformation is needed in every sector of the global economy – and tax policy plays a key role in driving and directing the necessary action, say tax professionals.
https://www.businesstimes.com.sg/companies-markets/tax-policy-plays-crucial-role-in-averting-climate-crisis

Covid-19 pandemic, border restrictions may hinder Singapore’s economic recovery: Experts
Singapore – While the economy and employment opportunities are expected to recover further in 2022, risk factors like the Covid-19 pandemic and border restrictions could trip up the process, said economic and human resource experts on Friday (Jan 28).
https://www.straitstimes.com/singapore/jobs/pandemic-border-restrictions-may-hinder-singapores-economic-recovery-experts

Digital skills, sustainability expertise needed to build talent pool
Business leaders have called for more targeted support to develop digital skills and sustainability expertise in the Singapore workforce to tackle the rising manpower shortage more effectively.
https://www.businesstimes.com.sg/government-economy/digital-skills-sustainability-expertise-needed-to-build-talent-pool

Skills mismatch could constrain Singapore’s labour market recovery: economists
Singapore’s labour market is poised for a recovery this year, as long as the Covid-19 situation does not worsen, said economists, but they added that skills mismatches, if not addressed, could constrain growth.
https://www.businesstimes.com.sg/government-economy/skills-mismatch-could-constrain-singapores-labour-market-recovery-economists

Singapore’s Q4 total employment up despite Omicron; non-resident employment recovers
Singapore – Singapore’s labour market continues to recover, with total employment expanding in the last three months of 2021 despite the outbreak of the Omicron variant, as the number of non-resident workers employed grew for the first time in two years.
https://www.straitstimes.com/singapore/jobs/spore-total-employment-up-in-q4-2021-despite-omicron-non-resident-employment-recovers

Longer work hours may be unavoidable for business continuity amid Covid-19: Employers
Singapore – As the Republic grapples with the Omicron variant of Covid-19, employers and observers say that workers might need to put in extra hours to ensure business continuity, even as some of them may be under strain amid a blurring of the line between life and work.
https://www.straitstimes.com/singapore/jobs/longer-work-hours-may-be-unavoidable-for-business-continuity-amid-covid-19-employers

Companies’ Brief

CapitaLand China Trust posts 35.1% rise in H2 DPU to S$0.045
CapitaLand China Trust (CLCT) on Monday (Jan 31) posted a distribution per unit (DPU) of 4.50 Singapore cents for its second half ended Dec 31, 2021, up 35.1 per cent from a DPU of 3.33 cents a year ago.
https://www.businesstimes.com.sg/companies-markets/capitaland-china-trust-posts-351-rise-in-h2-dpu-to-s0045
https://www.straitstimes.com/business/companies-markets/capitaland-china-trust-posts-351-rise-in-second-half-dpu-to-45-cents

Keppel Group’s S-Reits average 3.6% DPU growth for FY2021
As at last Friday (Jan 28), 12 S-Reits have reported their full year financial results for the period ended Dec 31, 2021. The majority reported a year-on-year (yoy) increase in full year distribution per unit (DPU).
https://www.businesstimes.com.sg/real-estate/keppel-groups-s-reits-average-36-dpu-growth-for-fy2021

Views, Reviews, Forum & Others

Nurturing the shoots of recovery
This week’s topic: What Budget measures are needed as the focus shifts from emergency support back to growth?

This is Part 1 of the responses. Part 2 will be published on Feb 7.
https://www.businesstimes.com.sg/views-from-the-top/nurturing-the-shoots-of-recovery

The Great Resignation: Has the global trend reached Singapore?
People around the world seem to be leaving their jobs in droves as they rethink priorities as the Covid-19 pandemic wears on. While this may not be the case here, work-life balance is becoming increasingly important to locals. Some sectors bear watching even as the economy recovers.
https://www.straitstimes.com/singapore/jobs/what-you-need-to-know-about-jobs-resignations-and-salaries-in-singapore

Singapore to be more ‘selective’ of new data centres amid climate change: IMDA, EDB
Singapore will be more selective of new data centres, and introduce fresh measures to raise the efficiency of existing players as it seeks to align the growth of data centres with climate change ambitions.
https://www.businesstimes.com.sg/companies-markets/singapore-to-be-more-selective-of-new-data-centres-amid-climate-change-imda-edb

The silver lining to a hawkish Fed
A faster Fed tapering has been set in motion. Our US economics team expects the Fed to hike its Fed Funds Target Rate (FFTR) by 25 basis points (bps) four times this year, starting in March. In addition, we are expecting balance sheet run-off to be announced in July.
https://www.businesstimes.com.sg/wealth-investing/wealth-investing/the-silver-lining-to-a-hawkish-fed

Performance reporting: setting high standards
Investors are keen to know how hard their investments are working for them. Every additional percentage point return can add up considerably to retirement funds if we factor in compounding returns.
https://www.businesstimes.com.sg/wealth-investing/wealth-investing/performance-reporting-setting-high-standards

How to plan a staycation as you renovate your home
Singapore – As much as we’d all like to give our home a makeover, the prospect of having to pack up and leave our sanctuary to rough it at a temporary place for a few months can be deal-breaker for many.
https://www.straitstimes.com/business/invest/how-to-plan-a-staycation-as-you-renovate-your-home

Update on COVID-19 (Coronavirus Disease 2019) Situation

709 Covid-19 patients hospitalised in S’pore as number of new local cases dip
Singapore – A total of 709 people are now hospitalised with Covid-19, as the number of new local cases dipped on Sunday (Jan 30). Of the new cases, 60 require oxygen support and 12 are in the intensive care unit (ICU), said the Ministry of Health (MOH) in its latest daily update.
https://www.straitstimes.com/singapore/709-covid-19-patients-hospitalised-in-spore-as-number-of-new-local-cases-dip

Nearly 200 cases of more infectious Omicron subvariant in Singapore
Singapore – A total of 48 local cases and 150 imported cases in Singapore have been confirmed to have had the BA.2 Omicron sub-lineage as at Tuesday (Jan 25). The Ministry of Health (MOH) said on Friday (Jan 28) that the health authorities in Denmark have disclosed their findings that BA.2 is more infectious that BA.1, but with no significant difference in clinical outcomes.
https://www.straitstimes.com/singapore/health/nearly-200-cases-of-more-infectious-omicron-subvariant-in-singapore

Stick to the rules; stay at home if you are even mildly unwell: Ong Ye Kung
Singapore – Stick to the rules and don’t visit anyone if you are feeling under the weather – even if it is just a sore throat and you have tested negative for Covid-19. Urging Singaporeans to exercise caution ahead of next week’s Chinese New Year celebrations…
https://www.straitstimes.com/singapore/health/stick-to-the-rules-stay-at-home-if-you-are-even-mildly-unwell-ong-ye-kung

Those who test positive for Covid-19 using ART should get booster vaccine dose: MOH
Singapore – People who previously tested positive for Covid-19 via a self-administered antigen rapid test (ART) should still get their booster shot, said the Ministry of Health (MOH) on Saturday (Jan 29).
https://www.straitstimes.com/singapore/those-who-test-positive-for-covid-19-using-art-should-get-booster-vaccine-dose-moh

Singapore, Taiwan now accept each other’s digital Covid-19 test and vaccination certificates
Singapore – Digital Covid-19 test and vaccination certificates issued by Singapore and Taiwan will now be accepted by the authorities in both jurisdictions. The was announced by the Singapore Trade Office in Taipei on its Facebook page on Friday (Jan 28).
https://www.straitstimes.com/singapore/spore-taiwan-now-accept-each-others-digital-covid-19-test-and-vaccination-certificates

Study to look at reducing disease spread in Singapore buildings
Singapore – An eight-month study will be launched in April on how to minimise the spread of infectious diseases in buildings, to not just help Singapore move towards living with Covid-19 but also better cope with future pandemics.
https://www.straitstimes.com/singapore/study-to-assess-how-better-ventilation-can-reduce-spread-of-infections-in-buildings

Singapore hospitals coping well, prepared for any surge in Covid-19 cases
Singapore – Hospitals here are coping well in spite of the Omicron wave infecting thousands of people daily. Most have resumed business as usual, with all wards open and staff encouraged to take leave.
https://www.straitstimes.com/singapore/singapore-hospitals-coping-well-prepared-for-any-surge-in-covid-19-cases

*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