DAILY NEWS

Daily News – 4, 5 & 6 September 2021 (Sat, Sun & Mon)

Singapore Real Estate

Singapore real estate agents’ transaction data now available for all residential properties
The Council for Estate Agencies (CEA) has published a complete record of all residential property transactions facilitated in the last 24 months by property agents in Singapore. Prospective buyers and sellers can now view the publicly accessible information on both resale and rental deals of Housing and Development Board (HDB) flats, as well as new sales, resales and rentals of private homes.
https://www.businesstimes.com.sg/real-estate/singapore-real-estate-agents-transaction-data-now-available-for-all-residential
https://www.straitstimes.com/business/property/singapore-property-agents-transaction-data-now-available-for-all-residential

Construction raw material prices to stay high amid supply chain, shipping disruptions
Construction raw material prices look set to remain elevated as countries around the world struggle to contain the Delta coronavirus variant. In particular, companies have been grappling with lockdown-induced supply chain and shipping disruptions since the start of this year.
https://www.businesstimes.com.sg/companies-markets/construction-raw-material-prices-to-stay-high-amid-supply-chain-shipping

Singapore Economy

Singapore retail sales see marginal 0.2% rise in July, F&B takings get hit
Singapore – Retail sales in Singapore saw a marginal rise in July from a year ago, with food and beverage services taking a hit due to stricter curbs on dining in. Takings at the till grew 0.2 per cent year on year, lower than the 0.3 per cent rise forecast by analysts in a Bloomberg poll.
https://www.straitstimes.com/business/economy/singapore-retail-sales-see-marginal-02-rise-in-july-as-fb-takings-get-hit
https://www.businesstimes.com.sg/government-economy/singapore-retail-sales-in-july-up-02-as-low-base-effects-wear-off

Businesses gear up for new goal of testing as a ‘way of life’
Business owners and operators broadly backed the call for more Covid-19 rapid testing at workplaces, but also flagged potential concerns over cost and implementation. Their remarks to The Business Times (BT) came as members of the multi-ministry taskforce on Covid-19 on Friday said they are looking into the wider use of antigen rapid tests (ARTs) in Singapore’s new normal.
https://www.businesstimes.com.sg/government-economy/businesses-gear-up-for-new-goal-of-testing-as-a-way-of-life

Companies’ Brief

Troubled contractor Greatearth files to wind up company
Troubled construction company Greatearth has started the process of winding up, a week after their shock closure of five Build-To-Order (BTO) project sites which caused more than 2,900 home buyers to face longer delays.
https://www.businesstimes.com.sg/companies-markets/troubled-contractor-greatearth-files-to-wind-up-company
https://www.straitstimes.com/business/property/troubled-contractor-greatearth-files-to-wind-up-company-a-week-after-shock-bto

Heavy trading in new S-Reit inclusions in global Reit benchmark
On Sept 1, FTSE Russell announced that 11 SGX-listed Reits & Property Trusts, with market capitalisation ranging from S$2.6 billion to S$1.1 billion, entered the FTSE EPRA Nareit Global Developed Index after its quarterly index review.
https://www.businesstimes.com.sg/companies-markets/heavy-trading-in-new-s-reit-inclusions-in-global-reit-benchmark

Keppel DC Reit acquires data centre in the Netherlands for 37.2m euros
Keppel DC Real Estate Investment Trust (Reit) has acquired two data centre buildings in Eindhoven, the Netherlands for 37.2 million euros (S$59.9 million), its manager said in a bourse filing on Monday. The freehold property, located in Eindhoven’s largest business park De Hurk, is the Reit’s third asset in the Netherlands, and “further strengthens its foothold in this key data centre market in Europe”, the
manager said.
https://www.businesstimes.com.sg/real-estate/keppel-dc-reit-acquires-data-centre-in-the-netherlands-for-372m-euros

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1443

Views, Reviews, Forum & Others

Treading a fine balance
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
I am very concerned as the foreign workforce constitutes a key source of labour for many industries, particularly the real estate and finance sectors. Tightened rules will undoubtedly reduce access to and drive up costs of skilled labour.
https://www.businesstimes.com.sg/views-from-the-top/treading-a-fine-balance

Recent weather underlines climate impact
A familiar joke is that Singapore has two seasons: hot and wet, and hotter and wetter. The past month has witnessed plenty of the latter variety. So much so that flash floods are now a worry for people starting to head back to offices.
https://www.straitstimes.com/opinion/st-editorial/recent-weather-underlines-climate-impact

Staying the course to reopening safely
A hopeful signal was sent this week when Changi Airport’s Terminals 1 and 3 opened their doors to the public for the first time in more than 100 days, ahead of the start of eased border measures for vaccinated travellers.
https://www.straitstimes.com/opinion/st-editorial/staying-the-course-to-reopening-safely

How Gen Z can save the CBD and business parks
Over coffee with an old school classmate, I suggested that given how Covid-19 lockdowns caused the Central Business District (CBD) and business hubs to turn into ghost towns, the Government will need to greater incentivise more residential housing in the city centre.
https://www.straitstimes.com/opinion/how-gen-z-can-save-the-cbd-and-business-parks

Spoilt for choice – or spoiled outcomes?
We live in a world where we have a dizzying array of choices. The number of shows to watch on Netflix or Disney+, new music to explore on Spotify, the number of game apps on our phones – all vie for our limited bandwidth. There is also a plethora of choices for financial services, payment apps, and investing options.
https://www.businesstimes.com.sg/wealth-investing/spoilt-for-choice-or-spoiled-outcomes

Policies will not be constrained by existing ways of doing things, says Lawrence Wong
Singapore – Amid a more challenging environment, the Government will update and review policies continually, and will not be limited by the old ways of doing things, said Finance Minister Lawrence Wong on Friday (Sept 3).
https://www.straitstimes.com/singapore/politics/policies-will-not-be-constrained-by-existing-ways-of-doing-things-says-lawrence

S’pore will adjust corporate tax system, build on other advantages to meet global minimum tax challenge: Indranee Rajah
Singapore – With the move to implement a global minimum tax, Singapore as a small economy must work harder than ever to attract and retain investments. In addition to adjusting its corporate tax system, it will continue to partner both multinational and local companies here to grow their businesses and create new links to access global markets, said Second Minister for Finance and National Development Indranee Rajah on Friday (Sept 3).
https://www.straitstimes.com/singapore/politics/spore-will-adjust-corporate-tax-system-and-build-on-other-advantages-to-meet

Binance to halt Singapore products after MAS warning
[Singapore] Cryptocurrency exchange Binance said on Sunday that it will stop offering some products in Singapore after regulators said earlier in the week that the company may be in breach of the country’s Payment Services Act.
https://www.businesstimes.com.sg/banking-finance/binance-to-halt-singapore-products-after-mas-warning
https://www.straitstimes.com/business/banking/binance-to-halt-singapore-products-after-central-bank-warning

Update on COVID-19 (Coronavirus Disease 2019) Situation

186 new locally transmitted Covid-19 cases in
There were 186 new locally transmitted coronavirus cases reported in Singapore on Sunday, in the Ministry of Health’s (MOH) daily update. Of these, 90 were unlinked cases. Another 63 were linked to previous cases and had already been quarantined, while 33 linked cases were detected through surveillance MOH said.
https://www.businesstimes.com.sg/government-economy/186-new-locally-transmitted-covid-19-cases-in-singapore-including-90-unlinked

New Covid-19 cluster at Changi General Hospital with 14 cases; 29 new cases linked to staff at bus interchanges
Singapore – A new Covid-19 cluster has emerged at Changi General Hospital (CGH) with 11 new cases, said the Ministry of Health (MOH) on Friday (Sept 3). The latest CGH cluster, which has a total of 14 cases, is separate from an earlier active cluster with four cases.
https://www.straitstimes.com/singapore/health/new-covid-19-cluster-at-changi-general-hospital-with-14-cases-29-new-cases-linked

Covid-19 cases linked to bus interchange clusters grow to 469, with 32 new cases
Singapore – There were 32 new Covid-19 cases among staff at eight bus interchanges reported on Sunday (Sept 5), bringing the total number of infected people in the clusters to 469. There were also six new cases linked to the Changi General Hospital cluster, bringing the total there to 46, said the Ministry of Health (MOH).
https://www.straitstimes.com/singapore/number-of-covid-19-cases-linked-to-bus-interchanges-grows-to-469-with-32-new-cases

Bus interchange Covid-19 clusters likely to be workplace transmission: Kenneth Mak
Singapore – The cluster of cases at the bus interchanges is likely to be a workplace transmission, though investigations so far have not identified specific modes of transmission, said Singapore’s director of medical services Kenneth Mak on Friday (Sept 3).
https://www.straitstimes.com/singapore/bus-interchange-covid-19-clusters-likely-to-be-workplace-transmission-kenneth-mak

Bugis Junction Covid-19 cluster may have started with infected member of public who visited mall: Kenneth Mak
Singapore – The Bugis Junction cluster may have stemmed from an infected visitor, and then spread among employees at the mall, said Singapore’s director of medical services Kenneth Mak on Friday (Sept 3). He added that the spread among employees in the mall could be due to a lack of compliance with safe management measures, a situation that has been observed at other clusters as well.
https://www.straitstimes.com/singapore/health/bugis-junction-covid-19-cluster-may-have-started-with-infected-member-of-public-who

Vaccine booster shots to start in September for immunocompromised, those 60 and above
The Ministry of Health (MOH) will commence a vaccine booster programme this month for those who are moderately to severely immunocompromised, those aged 60 years and above, and residents of aged-care facilities.
https://www.businesstimes.com.sg/government-economy/vaccine-booster-shots-to-start-in-september-for-immunocompromised-those-60-and
https://www.straitstimes.com/singapore/covid-19-booster-shots-for-seniors-aged-60-and-above-and-immunocompromised-people-from

Public can book Covid-19 test at 20 quick test centres from Oct 1
Singapore – To supplement regular self-testing, members of the public can now make an appointment for a paid test at the 20 quick test centres (QTCs) for a fast and easy test (FET) from Oct 1. Along with self-test kits, access to these centres will see testing for Covid-19 becoming a way of life in Singapore, said the multi-ministry task force tackling Covid-19 on Friday (Sept 3).
https://www.straitstimes.com/singapore/public-can-book-covid-19-test-at-20-quick-test-centres-from-oct-1

New Covid-19 variant of interest, Mu, unlikely to overtake Delta: Experts
Singapore – The World Health Organisation upgraded the Mu mutation of the coronavirus to a variant of interest (VOI) on Monday (Aug 30). But experts say it is unlikely to overtake the Delta variant of concern (VOC), which now accounts for more than 90 per cent of sequenced infections globally in the Covid-19 pandemic.
https://www.straitstimes.com/singapore/health/new-variant-of-interest-mu-unlikely-to-make-covid-19-waves-say-experts

Covid-19 vaccines are 40% effective against infection in S’pore, ‘very effective’ against severe illness
Singapore – Covid-19 vaccines are able to prevent infection at a rate of about 40 per cent, but vaccines continue to be very effective in protecting against severe illnesses and death, Health Minister Ong Ye Kung said.
https://www.straitstimes.com/singapore/covid-19-vaccines-are-40-effective-against-infection-in-spore-very-effective-against

Stricter pre-departure testing for some travellers into Singapore
From Sept 9, all travellers into Singapore from Category II, III and IV countries will need to produce a negative pre-departure Covid-19 polymerase chain reaction test result taken within 48 hours before leaving for Singapore, said the Ministry of Health (MOH) in a statement on Sunday.
https://www.businesstimes.com.sg/government-economy/stricter-pre-departure-testing-for-some-travellers-into-singapore
https://www.straitstimes.com/singapore/community/updated-pre-departure-testing-requirement-for-travellers-and-border-measures-to

How governments around the world are keeping up with shifting Covid-19 vaccination goals
Vaccination coverage of a population and, most recently, the number of shots to be given have turned into a moving goal post as governments around the world race against time to control the Covid-19 pandemic amid the emergence of more infectious variants such as Delta and Mu.
https://www.straitstimes.com/asia/governments-keeping-up-with-shifting-covid-19-vaccination-goals

*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