DAILY NEWS

Daily News – 6th Mar 2020 (Fri)

Singapore Real Estate

1,000 CapitaLand tenants get rental rebates
Singapore’s largest mall operator CapitaLand has laid down more specifics to its rental rebates for tenants amid pressure from various fronts, including a group of retailers that has banded together to seek more help from landlords.
https://www.businesstimes.com.sg/companies-markets/1000-capitaland-tenants-get-rental-rebates
https://www.straitstimes.com/singapore/capitaland-to-give-1000-tenants-rental-rebates

Retail Reits have priced in Covid-19 impact, say analysts
Retail Reit prices have been blown cold by rental relief measures, and then hot again by the US Federal Reserve’s surprise rate cut. Analysts believe that current Reit prices have already either fully or partially priced in the impact of temporary rent-relief measures and will take reference from the Fed’s rate movements from this point on.
https://www.businesstimes.com.sg/companies-markets/retail-reits-have-priced-in-covid-19-impact-say-analysts

What Singapore can learn from Europe’s green building journey
Rising buildings and skyscrapers mark the era of modernisation. However, buildings are responsible for nearly 40 per cent of annual worldwide greenhouse gas emissions. The world cannot reach its ambitious climatic targets if energy use in buildings is not drastically reduced.
https://www.businesstimes.com.sg/real-estate/what-singapore-can-learn-from-europes-green-building-journey

New hospital in the east; Alexandra to be expanded
Singapore’s 12th public general hospital will be a new integrated acute and community hospital in the east, targeted to be ready around 2030, and will ease the load on Changi General Hospital. Mr Gan did not give its exact location, but said that on top of the normal range of general hospital services, it will be run by SingHealth and include services and facilities people living there would like.
https://www.straitstimes.com/singapore/new-hospital-in-the-east-alexandra-to-be-expanded

ARA completes acquisition of majority stake in Logos
ARA Asset Management has taken a majority stake in logistics property firm, Logos Group. Existing shareholders include real estate investment firm, Ivanhoé Cambridge and Logos’ founders, John Marsh and Trent Iliffe. With ARA’s buy-in, Macquarie Group’s MIRA Real Estate has exited as a Logos shareholder.
https://www.businesstimes.com.sg/real-estate/ara-completes-acquisition-of-majority-stake-in-logos

HDB resale market ‘resilient’ in February
The Housing and Development Board’s (HDB) resale market remained robust in February despite experiencing a seasonal dip from January. Fewer flats changed hands in February than in January, as prices inched up by 0.7 per cent.
https://www.businesstimes.com.sg/real-estate/hdb-resale-market-resilient-in-february
https://www.straitstimes.com/singapore/housing/hdb-resale-flat-prices-edge-up-07-in-feb-srx

Assisted-living flats give seniors option to age at home
A new type of serviced Housing Board home for seniors, where residents can ask for help if they need but still remain independent, will be rolled out in Bukit Batok in May, as more projects are being tested here to give people the option to age at home.
https://www.straitstimes.com/singapore/assisted-living-flats-give-seniors-option-to-age-at-home

Arcc Spaces to open flagship project at One Marina Boulevard
Singapore-based flexible workspace operator Arcc Spaces will open its flagship project at One Marina Boulevard next month. This is the company’s fourth project in Singapore, adding to its regional footprint that now includes Kuala Lumpur, Yangon, Beijing, Shanghai and Hong Kong.
https://www.businesstimes.com.sg/real-estate/arcc-spaces-to-open-flagship-project-at-one-marina-boulevard

Singapore Economy

Singapore retail sales keep weakening in January
Singapore retail sales continued to weaken in January, down 5.3 per cent year on year as motor sales remained a major drag, according to Department of Statistics data on Thursday. This was deepening from a 3.4 per cent fall in December. Excluding motor vehicles, however, sales were up 0.6 per cent year on year, improving from 0.1 per cent in December
https://www.businesstimes.com.sg/infographics/singapore-retail-sales-keep-weakening-in-january
https://www.straitstimes.com/business/economy/cars-drag-january-retail-sales-down-53

Singapore’s robust IP ecosystem sees surge in patent filings by China firms
China companies are increasingly filing patents in Singapore, spurred on by their South-east Asian expansion and the strength of Singapore’s intellectual property (IP) regime and alternative dispute resolution framework.
https://www.businesstimes.com.sg/government-economy/singapores-robust-ip-ecosystem-sees-surge-in-patent-filings-by-china-firms

Companies’ Brief

Hongkong Land net profit dives on revaluation losses
Hongkong Land Holdings posted a record underlying net profit of US$1.08 billion for the 12 months ended Dec 31, 2019, up 4 per cent from US$1.04 billion in 2018. Its net profit – which is typically volatile – slumped 92 per cent to US$198 million from US$2.5 billion previously, owing to losses from revaluation of the group’s investment properties compared to gains a year earlier.
https://www.businesstimes.com.sg/companies-markets/hongkong-land-net-profit-dives-on-revaluation-losses

Views, Reviews, Forum & Others

Singapore’s climate action: It is time to be more ambitious
Some nations have declared net-zero carbon emission targets by 2050. Businesses and the people here know Singapore can punch above its weight. The government should lend its support. For the first time, climate change concerns dominated the top five long-term global risks among surveyed business leaders, investors and policy-makers at this year’s World Economic Forum Annual Meeting in Davos, Switzerland.
https://www.businesstimes.com.sg/opinion/singapores-climate-action-it-is-time-to-be-more-ambitious
https://www.straitstimes.com/singapore/environment/climate-change-pap-youth-wing-calls-for-stronger-measures

Bracing for long battle against Covid-19
This week has seen a flurry of economic policy responses to the outbreak of Covid-19, which is continuing to spread across the world. The week began with the Organisation for Economic Cooperation and Development (OECD) issuing a sobering warning that global economic growth this year could almost halve to 1.5 per cent, compared with a pre-coronavirus forecast of 2.9 per cent, in the event that the Covid-19 outbreak turns out to be long-lasting and intensive.
https://www.straitstimes.com/opinion/st-editorial/bracing-for-long-battle-against-covid-19

Wipo nomination boosts Singapore’s global standing as hub for IP enforcement, resolution
Singapore’s intellectual property (IP) chief’s nomination to helm the United Nations World Intellectual Property Organization (Wipo) comes at an opportune time when more foreign companies are looking to conduct IP activity in Singapore.
https://www.businesstimes.com.sg/government-economy/wipo-nomination-boosts-singapores-global-standing-as-hub-for-ip-enforcement

Analysts downgrade Singapore banks after US Fed rate cut
Analysts have downgraded their ratings for Singapore banks following the Federal Reserve’s emergency rate cut on Tuesday, with the rate cut expected to compress the net interest margins (NIM) reported by the trio.
https://www.businesstimes.com.sg/companies-markets/analysts-downgrade-singapore-banks-after-us-fed-rate-cut

Singapore Budget 2020

Outbreak could hit major transport projects: Khaw
The timeline for major transport infrastructure projects, such as Changi Airport’s Terminal 5 and Tuas Port, could be impacted if the Covid-19 outbreak drags on and disrupts the supply of construction equipment and materials, said Transport Minister Khaw Boon Wan.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/outbreak-could-hit-major-transport-projects-khaw
https://www.straitstimes.com/politics/major-transport-projects-could-be-delayed

Update on COVID-19 (Coronavirus Disease 2019) Situation

Prepare for long-term virus impact: Gan
Singapore needs to prepare to live with Covid-19 for a long time, and brace itself for significantly more new cases here as the number of those infected outside China continues to grow at “alarming rates”, warned Health Minister Gan Kim Yong on Thursday.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/prepare-for-long-term-virus-impact-gan
https://www.straitstimes.com/singapore/be-ready-to-cope-with-covid-19-for-a-long-time-says-gan
*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