DAILY NEWS

Daily News – 31 Mar 2022 (Thu)

Singapore Real Estate

Soaring raw material prices may cause Singapore developers to delay projects
Property developers may be looking to defer their less urgent projects as the prices of some raw materials such as steel and aluminium have become more volatile since the Russia-Ukraine conflict began.
https://www.businesstimes.com.sg/companies-markets/soaring-raw-material-prices-may-cause-singapore-developers-to-delay-projects-0

Far East, Perennial offer to buy Golden Mile Complex for lower price of S$700m
A consortium comprising Far East Organization and Perennial Holdings has offered to buy the iconic Golden Mile Complex for S$700 million, which is S$100 million lower than its reserve price of S$800 million, a source has confirmed with The Business Times.
https://www.businesstimes.com.sg/real-estate/far-east-perennial-offer-to-buy-golden-mile-complex-for-lower-price-of-s700m
https://www.straitstimes.com/business/property/golden-mile-complex-gets-700-million-en-bloc-offer-from-far-east-organization-perennial-holdings

12,066 square foot penthouse at Les Maisons Nassim transacts for S$59.77 million
A 12,066 square foot (sq ft) penthouse at ultra-luxury freehold condominium Les Maisons Nassim has been sold for about S$59.77 million, or S$4,953 per square foot (psf). Developer Shun Tak Holdings had negotiated and agreed upon the price of the unit at a nascent stage of the project in early 2021, Shun Tak’s associate director (sales and marketing), Joanne Goh, told The Business Times.
https://www.businesstimes.com.sg/real-estate/12066-square-foot-penthouse-at-les-maisons-nassim-transacts-for-s5977-million

Property 2022 (March issue)
https://www.businesstimes.com.sg/hub-projects/property-2022-march-issue

Singapore Economy

Singapore and US to collaborate on AI, advanced manufacturing and cybersecurity
Singapore and the United States will be working together on projects relating to artificial intelligence (AI), advanced manufacturing and cybersecurity, under a bilateral economic cooperation platform aimed at strengthening collaborations in new and forward-looking areas to achieve inclusive growth.
https://www.businesstimes.com.sg/government-economy/singapore-and-us-to-collaborate-on-ai-advanced-manufacturing-and-cybersecurity-0

Companies’ Brief

Keppel working its assets harder as it simplifies its business
Keppel Corporation will focus, this year, on its asset monetisation programme and its “pivot towards an asset-light model”, chief executive Loh Chin Hua said in the company’s annual report that was published on Thursday (Mar 31).
https://www.businesstimes.com.sg/companies-markets/keppel-working-its-assets-harder-as-it-simplifies-its-business

LHN Logistics lodges preliminary offer document
LHN Logistics lodged its preliminary offer document on Wednesday (Mar 30) as its parent company, property player LHN seeks its spin-off and listing on the Catalist board of the Singapore Exchange (SGX).
https://www.businesstimes.com.sg/companies-markets/lhn-logistics-lodges-preliminary-offer-document
https://www.straitstimes.com/business/companies-markets/lhn-logistics-files-preliminary-offer-document-for-catalist-listing

Co-living startup The Assembly Place acquires peer operator Commontown Singapore
Singapore co-living startup The Assembly Place (TAP) has entered into an agreement with Libeto, the operator of Commontown Singapore’s co-living spaces, to acquire all assets of the brand. The acquisition will be completed through a share swap agreement, founder and chief executive of TAP Eugene Lim said.
https://www.businesstimes.com.sg/real-estate/co-living-startup-the-assembly-place-acquires-peer-operator-commontown-singapore

Lendlease Reit declares advanced distribution of S$0.011371 per unit
The manager of Lendlease Global Commercial Reit (JYEU) on Thursday (Mar 31) declared that the amount of advance distribution to be paid in connection with the real estate investment trust’s (Reit) private placement will be S$0.011371 per unit.
https://www.businesstimes.com.sg/companies-markets/lendlease-reit-declares-advanced-distribution-of-s0011371-per-unit

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1536

Views, Reviews, Forum and Others

Ukraine war’s fallout seeps into Asia
There is no knowing which way the chips will fall in a future conflict that could well be centred in Asia.
https://www.straitstimes.com/opinion/speakingofasia-ukraine-wars-fallout-seeps-into-asia

Retail markets in Singapore aim for physical comeback as Covid-19 curbs ease
While many retail establishments turned to e-commerce to stay afloat amid the pandemic, operators of physical retail markets are still committed to the in-person experience, hoping to revive their trade as Covid-19 curbs relax.
https://www.businesstimes.com.sg/sme/retail-markets-in-singapore-aim-for-physical-comeback-as-covid-19-curbs-ease

askST: What you need to know if you are driving from Singapore to Malaysia
Singapore – From Friday (April 1), the land borders will open for fully vaccinated persons in Singapore to freely drive to Malaysia and back. It has been two years since people here have been able to do so.
https://www.straitstimes.com/singapore/transport/askst-what-you-need-to-know-if-you-are-driving-from-singapore-to-malaysia

Update on COVID-19 (Coronavirus Disease 2019) Situation

Be responsible and use common sense as S’pore lives with Covid-19: Ong Ye Kung
Singapore – It is important for Singaporeans to be responsible and use common sense as Singapore lives with the Covid-19 virus, said Health Minister Ong Ye Kung on Wednesday (March 30).
https://www.straitstimes.com/singapore/health/be-responsible-and-use-common-sense-when-applying-covid-19-rules-ong-ye-kung

*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