DAILY NEWS

Daily News – 4 & 5 November 2021 (Thu & Fri)

Singapore Real Estate

Units at CanningHill Piers along Singapore River priced at S$1.16m and above; more VTLs may spur demand
The introduction of vaccinated travel lanes is likely to drive more foreign investment activity, especially in the high-end segment, said City Developments Limited (CDL) executive vice-president and head of property development, Lee Mei Ling.
https://www.businesstimes.com.sg/real-estate/units-at-canninghill-piers-along-singapore-river-priced-at-s116m-and-above-more-vtls-may
https://www.straitstimes.com/singapore/environment/canninghill-piers-to-be-tallest-building-along-singapore-river-slated-for

Resale HDB flat prices up in Oct, but fewer units sold during the month
Housing Board (HDB) resale prices rose from September to October despite fewer units sold, according to flash data released on Thursday (Nov 4). Prices were 0.9 per cent higher in October, marking the 16th straight month of increases.
https://www.businesstimes.com.sg/real-estate/resale-hdb-flat-prices-up-in-oct-but-fewer-units-sold-during-the-month
https://www.straitstimes.com/business/property/resale-hdb-flat-prices-up-in-october-but-fewer-units-sold-during-the-month

New PLH model makes public housing more equitable
The development of new prime location public housing (PLH) is an opportunity for a deep rethink of the Housing Board’s decades-old policy of building affordable flats for families for owner occupation, while letting home owners enjoy capital gains if they decide to sell the flat on the resale market after the minimum occupation period (MOP).
https://www.straitstimes.com/opinion/new-plh-model-makes-public-housing-more-equitable

Competition to recruit property agents hotting up
Singapore – Property agents are proving to be the ultimate beneficiaries of an aggressive recruitment war that has recently broken out among real estate agencies amid the piping hot property market. These firms are throwing money and other incentives at property agents in a bid to raise their headcounts.
https://www.straitstimes.com/business/property/competition-to-recruit-property-agents-hotting-up

Singapore Economy

Firms out of the red, but mood gets gloomier in Q3: survey
Although firms have just about edged out of the red, their optimism dimmed in the third quarter of 2021, according to the latest quarterly Business Times-Singapore University of Social Sciences (BT-SUSS) Business Climate Survey.
https://www.businesstimes.com.sg/government-economy/firms-out-of-the-red-but-mood-gets-gloomier-in-q3-survey

More S’pore firms were registered than closed down in last two years amid Covid-19
Singapore – Over the last two years, an average of around 3,840 firms were deregistered each month – figures similar to the pre-Covid-19 period of 2017 to 2019, said Minister of State for Trade and Industry Low Yen Ling.
https://www.straitstimes.com/singapore/politics/more-new-spore-firms-registered-in-last-two-years-than-those-that-closed-down

Companies’ Brief

Lendlease Global Reit posts portfolio occupancy of 99.8% for Q1; raises stake in Jem
Singapore-listed Lendlease Global Commercial Reit (Lendlease Global Reit) posted a portfolio occupancy of 99.8 per cent for its first quarter ending Sep 30, 2021. In a business update on Friday (Nov 5), the manager of the Reit (real estate investment trust) said for Q1 FY2022…
https://www.businesstimes.com.sg/companies-markets/lendlease-global-reit-posts-portfolio-occupancy-of-998-for-q1-raises-stake-in-jem

Retail Reits need to pivot to omnichannel options, de-emphasise F&B
It is raining results for Singapore-listed real estate investment trusts (S-Reits). A common thread running through the barrage of briefings accompanying the result announcements is that things are improving. This is especially true for those in the retail sector, which are generally coming off a low base after having been battered by border closures and other measures amid the Covid-19 pandemic.
https://www.businesstimes.com.sg/companies-markets/retail-reits-need-to-adapt-to-covid-with-less-emphasis-on-fb-more-on-omnichannel

Views, Reviews, Forum & Others

The future of work is about thriving in unpredictability
Singapore businesses are all set to go back to office after more than 18 months away. Economies are opening up; border restrictions are easing. It is time to get back to business growth and recovery. Some have touted the new normal as a once-in-a-generation opportunity to reimagine work models for the future of work. But what does that mean in practice and reality?
https://www.businesstimes.com.sg/opinion/the-future-of-work-is-about-thriving-in-unpredictability

Beyond COP26: An action plan for CEOs
Managing climate change is the greatest challenge of our time, and the 26th United Nations Conference of the Parties in Glasgow, Scotland – better known as COP26 – represents a milestone in the world’s efforts to take concerted action.
https://www.businesstimes.com.sg/opinion/beyond-cop26-an-action-plan-for-ceos

Does the Unfair Contract Terms Act apply to you?
Imagine you are a co-working operator who leases out large office spaces to sizeable businesses. One of your members is a multi-national cybersecurity business. It has offices in Singapore, Bangkok, Geneva, Lausanne, Paris, London and New York City, with the financial muscle to sign a 2-year lease with a monthly rent of almost S$100,000.
https://www.businesstimes.com.sg/opinion/does-the-unfair-contract-terms-act-apply-to-you

Sowing the seeds of green finance to realise Singapore’s Green Plan
The role of finance in enabling a greener and more sustainable environment and society is certainly taking centrestage. Already, we’re seeing the Singapore government making its green mark through establishing taxonomies, setting policies on climate-related financial disclosures, focusing on ESG data, supporting high quality carbon credit markets and catalysing green investments.
https://www.businesstimes.com.sg/opinion/sowing-the-seeds-of-green-finance-to-realise-singapores-green-plan

Transforming leaders for the future of work
Covid-19 has not only disrupted entire industries, but we are also witnessing the start of a global transformation in the future of work. These emerging forces are already shaping the post-pandemic generation of employees.
https://www.businesstimes.com.sg/leadership-management/transforming-leaders-for-the-future-of-work

Network for family offices launched in Singapore amid rapid growth in sector
Singapore – A new network for family offices has been launched here to provide opportunities for firms to collaborate and learn from one another. Family offices come in varying sizes and generally focus on investment and wealth management, either for a single family or multiple clients.
https://www.straitstimes.com/business/network-for-family-offices-launched-in-singapore-amid-rapid-growth-in-sector

MAS proposes changes to classification of investment products to better protect retail investors
Singapore – The Monetary Authority of Singapore has proposed changes to the classification of certain investment products, whereby those categorised as complex will come with enhanced safeguards to protect retail investors.
https://www.straitstimes.com/business/banking/mas-proposes-changes-to-classification-of-investment-products-to-enhance-safeguards

Update on COVID-19 (Coronavirus Disease 2019) Situation

S’pore reports 3,003 new Covid-19 cases and 17 deaths; weekly infection growth rate below 1 for second day in a row
Singapore – The Covid-19 weekly infection growth rate dipped to 0.93 on Thursday (Nov 4), down from 0.96 on Wednesday, said the Ministry of Health (MOH). This is the second day in a row it has dropped below one since MOH started reporting the figure.
https://www.straitstimes.com/singapore/spore-reports-3003-new-covid-19-cases-and-17-deaths-weekly-infection-growth-rate-is-below

Vaccinated travel lanes give Singapore Mice sector a boost
Singapore – The expanded Vaccinated Travel Lane (VTL) scheme here has given the meetings, incentives, conventions and exhibitions (Mice) sector a boost, with industry players noting growing interest among their clients.
https://www.straitstimes.com/singapore/consumer/vaccinated-travel-lanes-give-singapore-mice-sector-a-boost

Asian Mice sector sees glimmer of hope as borders reopen
Singapore – Things are finally looking up for the meetings, incentives, conventions and exhibitions (Mice) sector in Asia, which has been in the doldrums for nearly two years due to the Covid-19 pandemic. Industry players are hoping that easing border restrictions and increasing vaccination rates will help revive the badly battered sector.
https://www.straitstimes.com/asia/asian-mice-sector-sees-glimmer-of-hope-as-borders-reopen

*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