DAILY NEWS

Daily News – 7 September 2021 (Tue)

Singapore Real Estate

Marina View: Testing the ‘work, live, play’ concept within CBD
Singapore’s Central Business District (CBD) has transformed over the last decade or so. It expanded with the new business and financial precinct of Marina Bay, which houses Grade A office space at developments such as Marina Bay Financial Centre, Marina One and Asia Square.
https://www.businesstimes.com.sg/real-estate/marina-view-testing-the-work-live-play-concept-within-cbd

OK Lim’s Second Avenue bungalow on sale by public tender
A three storey Good Class Bungalow (GCB) belonging to Hin Leong founder Lim Oon Kuin, better known as OK Lim, is for sale along with another GCB at Caldecott Hill Estate, according to a press release issued by marketing agent Knight Frank on Monday.
https://www.businesstimes.com.sg/real-estate/ok-lims-second-avenue-bungalow-on-sale-by-public-tender
https://www.straitstimes.com/business/property/ok-lims-second-avenue-gcb-put-up-for-sale-by-tender

Peace Centre/Peace Mansion tries for en bloc again with S$650m reserve price
Peace Centre/Peace Mansion (PCPM) has been put on the market for collective sale once again. This time, the owners are expecting offers in excess of S$650 million, sole marketing agent JLL said on Monday. The minimum price of S$650 million reflects a unit land rate of about S$1,443 per square foot per plot ratio, after including an estimated lease top-up premium, but before factoring in bonus balcony plot ratio for the residential component.
https://www.businesstimes.com.sg/real-estate/peace-centrepeace-mansion-tries-for-en-bloc-again-with-s650m-reserve-price
https://www.straitstimes.com/business/property/peace-centre-complex-tries-for-en-bloc-again-with-s650m-reserve-price

Singapore Economy

Singapore’s unemployment rates rise in July, ending eight-month streak of improvement
Singapore’s unemployment rates rose in July after having trended downward for the past eight months, which may have been due to tightened Covid-19 curbs in preceding months, latest Ministry of Manpower (MOM) figures showed on Monday.
https://www.businesstimes.com.sg/government-economy/singapores-unemployment-rates-rise-in-july-ending-eight-month-streak-of
https://www.straitstimes.com/singapore/singapores-unemployment-rate-up-by-02-in-july-for-first-time-in-10-months

Plenty of opportunities in Chile and Latin America for Singapore firms
IN July, along with Colombia, Mexico and Peru, the Pacific Alliance welcomed Singapore as its first Associate State. The Pacific Alliance was launched just 10 years ago with the intention to promote the development of member countries with greater economic integration, as well as to enhance trade with the Asia-Pacific region.
https://www.businesstimes.com.sg/government-economy/plenty-of-opportunities-in-chile-and-latin-america-for-singapore-firms

Companies’ Brief

Starhill Global Reit’s manager prices S$125 million 2.23% notes due 2028
Starhill Global Reit’s manager has priced S$125 million notes with a fixed interest rate of 2.23 per cent per annum due 2028, to be issued under its S$2 billion multi-currency debt issuance programme. The interest for the Series 003 notes will be payable semi-annually in arrear, and have a tenor of seven years.
https://www.businesstimes.com.sg/companies-markets/starhill-global-reits-manager-prices-s125-million-223-notes-due-2028

Views, Reviews, Forum & Others

Towards sustainable manufacturing
Whether prompted by stakeholder demands, regulatory mandates, a concern for the environment, or even financial motives, one thing is clear: the sustainability imperative is growing within the manufacturing sector.
https://www.businesstimes.com.sg/opinion/towards-sustainable-manufacturing

Time for businesses to own up and act on climate change
The recently released Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report makes for some very troubling reading, declaring in no uncertain terms that the world is at the brink of a climate catastrophe.
https://www.businesstimes.com.sg/opinion/time-for-businesses-to-own-up-and-act-on-climate-change

BT Explains: Singapore’s love-hate relationship with foreign workers
You might remember the topic of foreign manpower — in particular, immigration — taking the forefront of public consciousness in the months leading up to the 2011 General Election. Singaporeans felt they were being crowded out on public transport, squeezed out of jobs and hit by surging resale HDB prices, and quickly came to the conclusion that these struggles had one common denominator: the rapidly-changing face of Singapore’s populace.
https://www.businesstimes.com.sg/government-economy/bt-explains-singapores-love-hate-relationship-with-foreign-workers

Update on COVID-19 (Coronavirus Disease 2019) Situation

Covid-19 infections linked to S’pore bus interchange clusters rise to 504, with 30 new cases
Singapore – The number of Covid-19 cases linked to staff at eight bus interchanges now stands at 504, with 30 new cases reported on Monday (Sept 6). The cluster at Toa Payoh bus interchange has 161 cases, after nine new cases were added, the Ministry of Health (MOH) said in its daily update on Monday night.
https://www.straitstimes.com/singapore/health/covid-19-infections-linked-to-spore-bus-interchange-clusters-rise-to-504-with-30

No social gatherings at S’pore workplaces from Sept 8; tougher action if Covid-19 cases are detected
Singapore – Social gatherings at workplaces will not be allowed from Wednesday (Sept 8), with tougher action to be taken if workers are found to be infected. The Ministry of Health (MOH) on Monday (Sept 6) said that recent clusters in workplace settings have emerged because of lax safe management measures, especially in areas such as staff canteens and pantries, where people tend to let their guard down and interact without their masks on.
https://www.straitstimes.com/singapore/no-social-gatherings-at-spore-workplaces-from-sept-8-tougher-action-if-covid-19-cases

Reduce non-essential social activities for next two weeks to curb Covid-19 spread: Lawrence Wong
Singapore – All individuals in Singapore are being strongly urged to reduce non-essential social activities for the next two weeks, especially those who are old or living with elderly family members. The Ministry of Health (MOH) on Monday (Sept 6) said social circles should be limited to a small group of regular contacts, and social gatherings should be limited to one a day, whether to another household or in a public place.
https://www.straitstimes.com/singapore/reduce-non-essential-social-activities-for-next-two-weeks-lawrence-wong

Singapore steps up testing as Covid-19 cases double in a week
Singapore is increasing the frequency of Covid-19 tests for workers in “high-risk” settings to once a week from September 13, while distributing antigen rapid test (ART) kits to all employers, amid a worrying rise in cases, Finance Minister Lawrence Wong said on Monday.
https://www.businesstimes.com.sg/government-economy/singapore-steps-up-testing-as-covid-19-cases-double-in-a-week

S’pore rolls out measures to slow down spread of Covid-19 community cases
Singapore – Singapore will expand its testing regime more aggressively to keep the Covid-19 situation under control, as the number of new infections last week doubled to more than 1,200 – up from around 600 cases the week before.
https://www.straitstimes.com/singapore/health/spore-rolls-out-measures-to-slow-down-community-cases-including-health-risk

2,000 new daily infections in a month’s time if current rate of spread continues
Singapore – If Covid-19 continues to spread in the community at the current rate, there could be 2,000 new daily cases in a month’s time, Finance Minister Lawrence Wong said on Monday (Sept 6). What concerns the authorities is not the absolute number of cases but the rate at which the virus is spreading, said the minister, who co-chairs the multi-ministry task force on the virus.
https://www.straitstimes.com/singapore/health/2000-new-daily-infections-in-a-months-time-if-current-rate-of-spread-continues

Mandatory self-testing for migrant workers in S’pore dorms from Sept 13
Singapore – From next Monday (Sept 13), all migrant workers living in dormitories here will need to test themselves for Covid-19 regularly using antigen rapid test (ART) kits. This is in line with a broader push to encourage more people to carry out self-testing, and could signal the long-awaited lifting of movement curbs that have kept workers largely confined to their dorms.
https://www.straitstimes.com/singapore/mandatory-self-testing-for-migrant-workers-in-spore-dorms-from-sept-13

What’s the difference between Covid-19 quarantine order, health risk warning and health risk alert?
Singapore – As part of measures to contain the spread of Covid-19, health risk warnings (HRWs) and health risk alerts (HRAs) will be issued to people whenever a new cluster is detected. The Straits Times finds out the differences between HRWs, HRAs and quarantine orders.
https://www.straitstimes.com/singapore/health/the-difference-between-covid-19-quarantine-order-health-risk-warning-and-health

Younger adults may also get vaccine boosters as Singapore acts to prevent spike in Covid-19 cases
Singapore – The possibility of giving vaccine boosters to younger adults is being studied as Singapore embarks on an enhanced Covid-19 testing regime to dampen the increasing likelihood of an exponential increase in cases.
https://www.straitstimes.com/singapore/younger-adults-may-also-get-boosters-as-singapore-acts-to-prevent-spike-in-covid-19-cases

*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