DAILY NEWS

Daily News – 4th Mar 2020 (Wed)

Singapore Real Estate

Top bids for Canberra private housing sites below expectations
The latest 99-year leasehold residential state land tenders which closed on Tuesday have drawn a mixed bag of results. Top bids for a pair of adjoining private housing sites in Canberra Drive, a stone’s throw from Canberra MRT station in Singapore’s north, came in below forecasts by property consultants polled by The Business Times prior to the closing of the tender at noon, on Tuesday.
https://www.businesstimes.com.sg/real-estate/top-bids-for-canberra-private-housing-sites-below-expectations
https://www.straitstimes.com/business/property/tenders-for-three-housing-sites-close

Don’t skimp on rent relief, Chan Chun Sing tells landlords
As consumer businesses reel from the impact of the Covid-19 outbreak, Minister for Trade and Industry Chan Chun Sing called on major landlords to “do their part” for affected tenants. Under the recent Budget relief for tourism-related sectors, commercial properties will get a 15 per cent property tax rebate that Deputy Prime Minister Heng Swee Keat has urged landlords to translate into lower rents
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/dont-skimp-on-rent-relief-chan-chun-sing-tells-landlords
https://www.straitstimes.com/politics/short-sighted-of-landlords-not-to-pass-on-tax-rebates-chan

Singapore Economy

Feb electronics PMI sinks to seven-year low on Covid-19 fears
The coronavirus outbreak has cast a pall on Singapore’s manufacturing and electronics sentiment in February, even though both were on the brink of recovery just a month ago, a development that was no surprise to economists.
https://www.businesstimes.com.sg/government-economy/feb-electronics-pmi-sinks-to-seven-year-low-on-covid-19-fears
https://www.straitstimes.com/business/economy/manufacturing-shrinks-at-fastest-pace-since-2014-on-virus-outbreak
https://www.straitstimes.com/business/economy/prolonged-economic-weakness-may-stir-trouble-in-labour-markets

Views, Reviews, Forum & Others

How Singapore can lead biopharma innovation
Singapore is known by the global innovation and intellectual property (IP) expert community as a leader in the protection of IP rights. The latest International Property Rights Index for 2019 again listed Singapore as having Asia’s strongest protection of intellectual property (IP) rights; globally, it ranks fourth.
https://www.businesstimes.com.sg/opinion/how-singapore-can-lead-biopharma-innovation

Singapore Budget 2020

Singapore ‘must emerge stronger’ by working together: Chan
Even as the global Covid-19 epidemic weighs on the economy, Minister for Trade and Industry Chan Chun Sing urged Singapore on Tuesday to gear up for two long-term drivers of change: global shifts and technology.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/singapore-must-emerge-stronger-by-working-together-chan
https://www.straitstimes.com/politics/minister-need-to-keep-boosting-spores-value-as-connectivity-hub

Public-private funding to steer businesses through choppy waters
To spur private-sector support for companies amid the Covid-19 outbreak, the Singapore government will match part of the funds raised to support businesses in the year ahead. Public agency Enterprise Singapore (ESG) will put up to S$1 million into each support fund set up by trade bodies, under the SG Together Enhancing Enterprise Resilience (Steer) scheme launched by…
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/public-private-funding-to-steer-businesses-through-choppy
https://www.straitstimes.com/politics/govt-to-match-funds-raised-by-private-sector-to-help-businesses

Firms that hire and train mid-career and older workers to get S$2 billion in govt help
A lot is asked of employers in hiring and training more mid-career and older workers in Budget 2020, but they will receive fair support – to the tune of around S$2.0 billion in total, Manpower Minister Josephine Teo has announced.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/firms-that-hire-and-train-mid-career-and-older-workers-to
https://www.straitstimes.com/politics/govt-acts-to-protect-jobs-and-wages-for-singaporeans
https://www.straitstimes.com/politics/measures-to-boost-careers-of-sporeans-in-their-40s-and-50s

Circular economy approach to maximise resources, reduce waste
The effects of climate change, such as rising sea levels and extreme weather events, are posing a threat to carrying on with business as usual. But just as how Singapore overcame its water vulnerability with innovation, the nation can do the same with climate change, said Senior Minister of State for Trade and Industry Koh Poh Koon in Parliament yesterday.
https://www.straitstimes.com/politics/circular-economy-approach-to-maximise-resources-reduce-waste

Update on COVID-19 (Coronavirus Disease 2019) situation

Singapore bars visitors from Iran, northern Italy, S Korea over Covid-19 fears
New visitors with recent travel history to Iran, northern Italy, or South Korea within the last 14 days will not be allowed to enter or transit through Singapore, from 11.59pm on March 4. This is part of additional precautionary measures – including swab testing of symptomatic travellers – amid a global surge in Covid-19 cases.
https://www.businesstimes.com.sg/government-economy/singapore-bars-visitors-from-iran-northern-italy-s-korea-over-covid-19-fears
https://www.straitstimes.com/singapore/health/singapore-to-bar-visitors-from-south-korea-north-italy-and-iran
https://www.straitstimes.com/singapore/health/be-mentally-prepared-for-spike-in-cases-here-lawrence-wong

ICA issues over 4,500 stay-home notices; ComCare gets 344 calls
Immigration officers have issued over 4,500 stay-home notices as of yesterday morning, including to those returning from South Korea’s Daegu city and Cheongdo county. In response to queries from The Straits Times, the Immigration and Checkpoints Authority (ICA) said it had issued 4,535 such notices as of 8am. Those given the notice cannot leave their homes for 14 days.
https://www.straitstimes.com/singapore/ica-issues-over-4500-stay-home-notices-comcare-gets-344-calls

Right to let ministers act swiftly on fake news, says Iswaran
The spread of fake news during the ongoing coronavirus outbreak has underscored the need for swift action so that such falsehoods do not gain traction and mislead Singaporeans, said Communications and Information Minister S. Iswaran. And the use of the fake news law during this period has reinforced the Government’s convictions to vest the powers to act in the executive, he added yesterday.
https://www.straitstimes.com/singapore/right-to-let-ministers-act-swiftly-on-fake-news-says-iswaran

We can push coronavirus back, says WHO chief
In spite of the number of cases and number of countries experiencing Covid-19 infections, the World Health Organisation (WHO) says it is still possible to contain the outbreak. “This is not a one-way street. We can push this virus back,” said its director-general Tedros Adhanom Ghebreyesus.
https://www.straitstimes.com/singapore/health/we-can-push-coronavirus-back-says-who-chief
*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