The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 4 Sep 2020 (Fri)

Singapore Real Estate

More retail and hospitality space being converted to office use
The blurring of lines between property asset classes to optimise the use of real estate will become more commonplace, especially for retail and hospitality landlords whose properties face steep challenges because of Covid-19.

Thye Hong family’s 101,550 sq ft GCB site creates buzz in market
An old bungalow on a freehold site of 101,550 sq ft in the Garlick Avenue Good Class Bungalow (GCB) Area owned by some members of the Lee family behind the Thye Hong group that used to make biscuits has been generating some market buzz in the past few weeks.

Demand for HDB resale flats remains strong in August: SRX
Sales of Housing and Development Board (HDB) resale flats remained strong in August while prices grew at the fastest monthly rate since February. There were 1.4 per cent fewer HDB resale flats sold in August compared with July, but this volume was 23.5 per cent higher than the same month last year.


Singapore Economy

Singapore electronics activity tipped for August recovery
Singapore’s electronics industry is back in business, an early gauge of factory performance has indicated. But its long-awaited cyclical upswing may not be enough to prop up the manufacturing sector for the rest of the year as the rest of the economy continues to reel from the deadly novel coronavirus pandemic.

Singapore remains Asia-Pacific’s most innovative nation
For the seventh consecutive year, Singapore has retained the top spot as Asia-Pacific’s most innovative nation in the latest Global Innovation Index. The annual index – released by the World Intellectual Property Organisation, Cornell University and Insead – ranks 131 economies according to their capacity for, and success in, innovation.

Minimum wage, sharp words and no easy answers
What’s clear enough is the common goal across the political divide to uplift poorer Singaporeans. What’s clearly in contest is how to get there, and resolution is unlikely to come anytime soon.


Companies’ Brief

Long-stop date for CMT-CCT merger extended to Nov 30; EGMs to be held on Sept 29
The long-stop date for the proposed merger between CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) has been extended to Nov 30 from Sept 30, their managers announced on Friday. Both real estate investment trusts (Reits) will hold their respective unitholder meetings on Sept 29 to seek approval for the proposed deal.

Chip Eng Seng converts US$4.95m loan into 33.3% stake in Cybint International
Chip Eng Seng’s wholly-owned subsidiary, CES Edutech, has fully converted a US$4.95 million convertible loan provided to Cybint International into shares, it said on Thursday. The loan, disbursed in January, has been fully converted into 5,000 shares, representing 33.33 per cent of the enlarged issued and paid-up share capital of Cybint International.

Frasers Centrepoint Trust to raise up to S$1.39b to buy rest of AsiaRetail Fund
Frasers Centrepoint Trust (FCT) is proposing to raise up to S$1.39 billion in equity through a private placement and/or a preferential offering, to fund its acquisition of the remaining 63.1 per cent of AsiaRetail Fund (ARF) for S$1.06 billion from its sponsor Frasers Property.

Jefferies upgrades Mapletree Commercial Trust, Suntec Reit to ‘buy’
Jefferies Singapore has upgraded its recommendation on Mapletree Commercial Trust (MCT) and Suntec Real Estate Investment Trust (Suntec Reit) to “buy” from “hold”. The brokerage has also raised its price target on MCT to S$2.25, up from S$1.45, and increased its price target on Suntec Reit to S$1.70, up from S$1.25 previously.

Soilbuild Reit’s sponsor signs term sheet for possible transaction of interests
The non-executive director of Soilbuild Business Space Reit’s manager, Lim Chap Huat, has entered into a non-binding term sheet in relation to a possible transaction involving his interests, and those of his three sons Lim Han Feng, Lim Han Qin and Lim Han Ren in the real estate investment trust (Reit).

Ayala Reit’s IPO to blaze trail for other Philippine issuers
Ayala Land Reit (AReit) had a rough ride listing on the Philippine Stock Exchange (PSE) in August, being the first-ever issuer to lodge a Reit initial public offering (IPO) in the Philippines, and in the midst of the Covid-19 uncertainty no less.


Views, Reviews, Forum & Others

New Fed policy has far-reaching effects
At the United States Federal Reserve’s annual Jackson Hole symposium on Aug 27, its chairman Jerome Powell announced a significant change in the way the Fed will conduct monetary policy in the future. Essentially, it will switch from targeting a fixed rate of 2 per cent inflation to targeting an average rate at that level.

The inherent tensions in debate on foreign workers
Resolution of the current debate about jobs for Singaporean versus foreign professionals, managers, executives and technicians (PMETs) requires explicit recognition that the needs and interests of business, the economy and the nation are not, and will never be, perfectly aligned – here or anywhere else in the world.

The shifting M&A landscape amid Covid-19
The Covid-19 pandemic has challenged businesses in every sector across the globe, forcing many companies to rethink their strategies to survive and/or to emerge stronger. The scale of the crisis has impacted the merger and acquisition (M&A) landscape.

Designing a winning talent strategy for a post-Covid world
There is conjecture on what the new normal will be in a post-Covid-19 world, but it is irrefutable that the war for talent will continue to heat up in the foreseeable future. Eighty-four per cent of respondents in a recent Aon survey of around 2,000 organisations worldwide said that the Covid-19 pandemic has driven them to rethink their workplace arrangements…

MAS move on access to SGD, USD for banks ‘a pre-emptive measure’
The latest move by the Monetary Authority of Singapore (MAS) to boost access to Singapore dollar (SGD) and US dollar (USD) funding for banks will give them more flexibility to manage liquidity in times of market stress, strengthening resilience in the sector, said analysts.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Nex, VivoCity, Suntec City among places visited by patients
Several malls – Nex, VivoCity and Suntec City – were among the new places visited by infectious Covid-19 patients, the Ministry of Health (MOH) said yesterday. Also newly added to the list of places visited by infectious patients were Bras Basah Complex, Geylang Serai Market and Food Centre, and Woodlands Civic Centre.

Better to keep expanded coronavirus testing voluntary: Experts
The latest move by the Government to expand Covid-19 testing to community groups is a good strategy to catch asymptomatic infections, Professor Teo Yik Ying, dean of the National University of Singapore’s (NUS) Saw Swee Hock School of Public Health, said yesterday.

Deadlier than Covid-19: Consider Disease X as a serious threat, say experts
Disease X, a new unknown disease that could cause a future epidemic, should be seen as a serious threat to drive preparedness – as it will be highly infectious, deadlier than Covid-19 and will mutate easily, said local health experts.
*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate 

US-based Radco sells US$315m of apartments; setting aside funds for deals

Homes built to retain heat struggling to cool down

US growth, job gains slowing, Fed reports

US July trade deficit swells to biggest since 2008

New York warehouse storing million-dollar artwork to shut down

Property investors look to mobile-home parks for Covid-era returns

Scroll to Top