DAILY NEWS

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

Singapore Real Estate

4 S’pore property trends to watch in 2022
Singapore’s property market will end 2021 with its best sales performance in recent years, with prices of private homes rising six consecutive quarters to a historical high in the third quarter of this year. Prices of city fringe condominium units in the Rest of Central Region (RCR) and landed properties reached their peaks last quarter…
https://www.straitstimes.com/business/invest/4-property-trends-to-watch-in-2022-0

Hotel investment outlook brightens in Asia-Pacific
A resurgence of Asia-Pacific hotel investment sales is on the cards as more buyers eye the current environment as an opportunistic time to snag assets, although bid-ask spreads threaten to crimp deal volumes.
https://www.businesstimes.com.sg/real-estate/hotel-investment-outlook-brightens-in-asia-pacific

Singapore Economy

Mice sector expected to rebound by 2023 following recent high-profile events
Singapore – The business events sector here will rebound to pre-pandemic levels by 2023, according to the industry’s peak body. Saceos – or the Singapore Association of Convention & Exhibition Organisers & Suppliers – cited the string of high-profile international conferences last month…
https://www.straitstimes.com/business/economy/mice-sector-expected-to-rebound-by-2023-following-recent-high-profile-events

Supply chains, interrupted: How Singapore and the world are coping with disruptions
Sending an item from one part of the world to another is now taking longer and costing more, as disruptions continue to choke the global supply chain system. Yet around the world, ordinary people, from truckers to warehouse workers, are keeping things chugging along amid the challenges.
https://www.straitstimes.com/business/economy/supply-chains-interrupted-how-singapore-and-the-world-are-coping-with-disruptions
https://www.straitstimes.com/multimedia/graphics/2021/12/global-supply-chain-problems/index.html

Singapore’s retail sales up 7.5% in October on handset launches; still below pre-pandemic levels
Singapore’s retail sales rose 7.5 per cent year on year in October, picking up from 6.8 per cent in the month before, in part as new product launches boosted mobile phone sales. On a month-on-month, seasonally adjusted basis, retail sales were up by 0.7 per cent, cooling against 6.1 per cent in September.
https://www.businesstimes.com.sg/government-economy/singapores-retail-sales-up-75-in-october-on-handset-launches-still-below-pre
https://www.straitstimes.com/business/economy/singapore-retail-sales-rise-75-in-october-but-fb-sees-drop-amid-covid-19-dine-in

Companies’ Brief

Singapore public offer of Digital Core Reit IPO is 16.1 times subscribed
Pure-play data centre real estate investment trust (Reit) Digital Core Reit on Friday (Dec 3) said its offer of 13.4 million units to Singapore retail investors under its initial public offering (IPO) was around 16.1 times subscribed.
https://www.businesstimes.com.sg/companies-markets/singapore-public-offer-of-digital-core-reit-ipo-is-161-times-subscribed-0

Scrutinising discounted placements by Reits
The manager of Manulife US Real Estate Investment Trust (Manulife US Reit) could not have picked a worse time to attempt raising US$80 million through a placement of new units. But it managed to more than pull the deal off.
https://www.businesstimes.com.sg/companies-markets/scrutinising-discounted-placements-by-reits

Views, Reviews, Forum & Others

Managed and calm response to Omicron
Singapore has been quick to take steps to protect itself from the increasing spread of the new Omicron variant of the coronavirus that was first reported to the World Health Organisation (WHO) by South Africa on Nov 24.
https://www.straitstimes.com/opinion/st-editorial/managed-and-calm-response-to-omicron

Opinion divided in Malaysia on reviving Kuala Lumpur-Singapore HSR
Kuala Lumpur – After two years of Covid-19 movement restrictions, the owner of the famed Kluang Rail Coffee will gladly welcome a boost to local tourism. But the Kuala Lumpur-Singapore High-Speed Rail (HSR) is not quite what Mr Barney Lim needs right now.
https://www.straitstimes.com/asia/se-asia/opinion-divided-in-malaysia-on-reviving-kl-spore-hsr

Bitcoin plunges over 20% in another sign of market nerves
Bitcoin plunged along with other cryptocurrencies on Saturday (Dec 4), in another indication of the risk aversion sweeping across financial markets.
https://www.businesstimes.com.sg/banking-finance/bitcoin-plunges-over-20-in-another-sign-of-market-nerves

Investors in Singapore warm to robo-advisers amid the pandemic
Singapore – They might not have the human touch and won’t make you a consoling cup of tea when your shares take a hit but roboadvisers are becoming an increasingly popular for investors.
https://www.straitstimes.com/business/invest/investors-in-singapore-warm-to-robo-advisers-amid-the-pandemic

Can Hong Kong keep its SPAC envy at bay?
Just a few weeks ago, Hong Kong seemed to cast a longing eye at blank-cheque companies. But is it a real craving? The Asian financial centre may simply want to minimise the regret it would feel – and be made to feel by investors and the media – if those deals went to arch-rival Singapore.
https://www.businesstimes.com.sg/wealth-investing/can-hong-kong-keep-its-spac-envy-at-bay

Family offices actively tapping direct private deals in Asia: Citi
Citi is working to close an increasing number of direct private deals to matchmake Asian companies with its family office clients, a senior executive from the bank told The Business Times. This comes amid rising demand for such investment opportunities among some 300 family offices…
https://www.businesstimes.com.sg/banking-finance/family-offices-actively-tapping-direct-private-deals-in-asia-citi

Update on COVID-19 (Coronavirus Disease 2019) Situation

552 new Covid-19 cases in Singapore; 1 imported case ‘preliminarily positive’ for Omicron
[Singapore] There were 552 new Covid-19 infections in Singapore on Sunday (Dec 5), down from 743 on Saturday, said the Ministry of Health (MOH). This is the third day in a row where new virus cases fall below 1,000.
https://www.businesstimes.com.sg/government-economy/552-new-covid-19-cases-in-singapore-1-imported-case-preliminarily-positive-for
https://www.straitstimes.com/singapore/552-new-covid-19-cases-in-singapore-1-imported-case-preliminarily-positive-for-omicron

Too early to determine Omicron’s severity, but experts say current vaccines offer protection: MOH
Singapore – It is too early to say for sure how severe the Omicron coronavirus variant is, but there is an emerging view among scientists that existing Covid-19 vaccines will still work against it in protecting people against severe illness.
https://www.straitstimes.com/singapore/health/too-early-to-determine-omicrons-severity-but-scientists-say-existing-covid-19

Covid-19 booster jabs necessary, especially with Omicron variant, but questions remain about efficacy
Singapore – Covid-19 booster shots are necessary to raise antibody levels and strengthen the body’s defences against infection, but questions remain regarding the true efficacy of these jabs across different groups.
https://www.straitstimes.com/singapore/covid-19-booster-jabs-necessary-especially-with-omicron-variant-but-questions-remain-about

Will Covid-19 drugs be less effective against the Omicron variant?
Singapore – As the highly mutated Omicron coronavirus variant surfaces in more places around the world, there is concern that it will evade a class of drugs – known as monoclonal antibodies – that can help prevent a person from becoming very ill with Covid-19.
https://www.straitstimes.com/singapore/health/will-covid-19-drugs-be-less-effective-against-the-omicron-variant

2 more Omicron cases transited through Singapore to Australia and Malaysia: MOH
Singapore – Two more people infected with the Covid-19 variant Omicron travelled through Singapore to Malaysia and Australia, said the Ministry of Health (MOH).
https://www.straitstimes.com/singapore/health/two-more-covid-19-cases-linked-to-omicron-variant-travelled-through-singapore-to

The Big Story: More countries detect cases of Omicron Covid-19 variant
Catch the latest news video reports on The Big Story, The Straits Times’ weekday online news programme. The Omicron Covid-19 variant has been detected in more countries as scientists continue their research on the nature of this new strain.
https://www.straitstimes.com/multimedia/the-big-story-more-countries-detect-cases-of-omicron-covid-19-variant

Daily ARTs for all VTL arrivals to Singapore; 7 more countries added to high-risk category
Seven countries comprising Bulgaria, Hungary, Iceland, Ireland, Luxembourg, Norway and Poland will be placed in a higher-risk category for travel from 11.59 pm on Dec 6, the Ministry of Health (MOH) said on Friday (Dec 3).
https://www.businesstimes.com.sg/government-economy/daily-arts-for-all-vtl-arrivals-to-singapore-7-more-countries-added-to-high-risk
https://www.straitstimes.com/singapore/transport/daily-art-tests-for-all-vtl-travellers-seven-more-countries-added-to-high-risk

Dormitory-bound work pass holders cannot enter Singapore via vaccinated travel lane: MOM
Singapore – From 11.59pm on Saturday (Dec 4), employers of all S Pass and work permit holders in the construction, marine shipyard and process sector will not be allowed to make new applications for workers to enter Singapore via vaccinated travel lanes (VTLs).
https://www.straitstimes.com/singapore/dormitory-bound-work-pass-holders-cannot-enter-singapore-via-vaccinated-travel-lane-mom

*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