DAILY NEWS

Daily News – 07 May 2021 (Fri)

Singapore Real Estate

Maxwell House collective sale tender awarded to joint venture for S$276.8m
A joint venture (JV) consisting of subsidiaries from SingHaiyi: 5H0 0%, Chip Eng Seng: C29 +1.12% and Hong Kong-listed Chuan Holdings on Friday won the collective sale tender for Maxwell House at a price of S$276.8 million.
https://www.businesstimes.com.sg/companies-markets/maxwell-house-collective-sale-tender-awarded-to-joint-venture-for-s2768m
https://www.straitstimes.com/business/property/maxwell-house-sold-en-bloc-to-chip-eng-seng-singhaiyi-for-2768-million-above

21 million-dollar HDB resale flats sold in April
The Housing Board resale market remained robust in April as 21 million-dollar flats changed hands and overall resale prices rose for the 10th straight month. Experts said the return to phase 2 Covid-19 curbs will help underpin demand. Resale prices climbed 1.2 per cent last month compared to March, flash data from real estate portal SRX released on Thursday showed.
https://www.businesstimes.com.sg/real-estate/21-million-dollar-hdb-resale-flats-sold-in-april
https://www.straitstimes.com/singapore/housing/21-million-dollar-hdb-resale-flats-sold-last-month?login=true

Pair of adjoining conservation shophouses at Neil Road up for sale
Two adjoining three-storey conservation shophouses at 73 and 75 Neil Road have been put up for sale via expression of interest with a collective guide price of S$30 million, said exclusive marketing agent CBRE on Thursday. Sitting on a land plot of about 4,439 square feet (sq ft), the pair has a total gross floor area of 11,128 sq ft, a courtyard of 825 sq ft, and a main road frontage of about 11 metres.
https://www.businesstimes.com.sg/real-estate/pair-of-adjoining-conservation-shophouses-at-neil-road-up-for-sale

Companies’ Brief

Far East Orchard posts Q1 loss of S$700,000 as pandemic hurts hotel revenues
Mainboard-listed property player Far East Orchard sank into the red in the first quarter, as the Covid-19 pandemic battered its hospitality business. Net losses came to S$700,000 for the three months to March 31, reversing earnings of S$900,000 in the year-ago period, the group said in a business update on Thursday.
https://www.businesstimes.com.sg/companies-markets/far-east-orchard-posts-q1-loss-of-s700000-as-pandemic-hurts-hotel-revenues

Brokers’ take: Analysts raise AA Reit target price; conversion of assets to data centres a positive surprise
In the case where AIMS APAC Reit: O5RU 0% (AA Reit) converts several assets into data centres once the moratorium is lifted, the real estate investment trust’s value will be enhanced and well supported by unitholders, DBS Group Research said in a Thursday report.
https://www.businesstimes.com.sg/companies-markets/brokers-take-analysts-raise-aa-reit-target-price-conversion-of-assets-to-data

ARA H-Trust posts 6.5% rise in Q1 gross revenue to US$19.6m amid recovery
ARA US Hospitality Trust (ARA H-Trust) on Thursday posted gross revenue of US$19.6 million for the first quarter, up 6.5 per cent from US$18.4 million in Q4 2020. This comes after a record pace of Covid-19 vaccinations and federal stimulus in the US, which lifted the hospitality trust’s portfolio performance.
https://www.businesstimes.com.sg/companies-markets/ara-h-trust-posts-65-rise-in-q1-gross-revenue-to-us196m-amid-recovery

ESR-Reit to raise S$150m as it acquires Singapore, Australia asset
ESR-Reit is looking to raise about S$150 million via a private placement and preferential offering to fund its S$119.2 million acquisition of a Tanjong Penjuru logistics facility, as well as asset enhancement initiatives for properties in Tai Seng and Ang Mo Kio.
https://www.businesstimes.com.sg/companies-markets/esr-reit-to-raise-s150m-as-it-acquires-singapore-australia-assets

Frasers Logistics & Commercial Trust H1 DPU up 9.5% to 3.8 S cents post merger
Frasers Logistics & Commercial Trust (FLCT) on Thursday posted a 9.5 per cent rise in distribution per unit (DPU) to 3.8 Singapore cents for the first half ended March 31, from 3.47 cents for the comparative period the year before.
https://www.businesstimes.com.sg/companies-markets/frasers-logistics-commercial-trust-h1-dpu-up-95-to-38-s-cents-post-merger

Lendlease Global Reit’s Q3 portfolio occupancy holds steady at 99.7%
Lendlease Reit: JYEU -0.64% on Friday said its portfolio occupancy stood at 99.7 per cent as at March 31, down by a marginal 0.1 percentage point on year and unchanged from the previous quarter.
https://www.businesstimes.com.sg/companies-markets/lendlease-global-reits-q3-portfolio-occupancy-holds-steady-at-997

Daily Digest
https://www.businesstimes.com.sg/companies-markets/daily-digest-36

Views, Reviews, Forum & Others

Four ways today’s teams are making us lonely
Firms should see loneliness as an organisational issue, not a personal one. Aside from being associated with an array of health problems, loneliness reduces work performance and creativity. It also turns employees into poor decision makers. Firms with lonely employees can ill afford to ignore the problem.
https://www.businesstimes.com.sg/leadership-management/four-ways-todays-teams-are-making-us-lonely

Getting risk culture right in the age of hybrid working
The protracted Covid-19 pandemic is no longer just a disruption to the way we work, but has transformed permanently the world of work. As we distil the learnings from 2020 to prepare ourselves for a pandemic-resilient workplace, the future of work is shaping into a hybrid model that optimises employee flexibility, autonomy and performance across locations.
https://www.businesstimes.com.sg/opinion/getting-risk-culture-right-in-the-age-of-hybrid-working

Update on COVID-19 (Coronavirus Disease 2019) Situation

18 new cases of Covid-19 in Singapore, two in the community
[Singapore] There were two Covid-19 cases in the community announced on Thursday, with one unlinked and the other linked to the Pasir Panjang Terminal cluster. The unlinked case was a fully-vaccinated cleaner who works at Changi Airport Terminal 3, said the Ministry of Health (MOH).
https://www.businesstimes.com.sg/government-economy/18-new-cases-of-covid-19-in-singapore-two-in-the-community
https://www.straitstimes.com/singapore/cleaner-nsf-are-new-community-cases

Serious adverse effects linked to Covid-19 vaccine in S’pore rare
There were 95 serious cases suspected to be reactions to Covid-19 vaccination here over a period of less than four months, and 20 of these involved a potentially life-threatening allergic reaction known as anaphylaxis, the Health Sciences Authority (HSA) said yesterday.
https://www.straitstimes.com/singapore/health/serious-adverse-effects-linked-to-covid-19-vaccine-in-spore-rare

No rise in heart attack, stroke cases among vaccinated people: HSA
There has been no uptick in heart attacks or strokes among vaccinated people, and no evidence that the Covid-19 vaccines used here can directly cause them, the Health Sciences Authority (HSA) said yesterday.
https://www.straitstimes.com/singapore/health/no-rise-in-heart-attack-stroke-cases-among-vaccinated-people-hsa

Largest study confirms over 95% protection with Pfizer-BioNTech jabs
The largest real-world study yet of the Pfizer-BioNTech vaccine yesterday confirmed that the jab provided more than 95 per cent protection against Covid-19, but found that the level dropped significantly when people received just one of the two prescribed doses.
https://www.straitstimes.com/world/europe/largest-study-confirms-over-95-protection-with-pfizer-biontech-jabs

*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