Singapore Real Estate
Landlords will become kingmakers; and local brands could benefit
Property developers and real estate investment trusts, which own much of the commercial space in Singapore, are often accused of squeezing tenants in order to amplify shareholder returns. Yet modern mall management strategies have boosted efficiency and productivity in the retailing industry, and generated economic value-add.
https://www.businesstimes.com.
Some Singapore expats ask for rent cuts as employers tighten belts
Singapore (Bloomberg) – Singapore expats are often envied for their generous pay packets but facing the prospect of salary cuts as the coronavirus batters businesses, some are tightening their belts and asking for lower rent.
https://www.straitstimes.com/
Singapore Economy
Covid-19’s impact on the global and local economy
Though the novel coronavirus pandemic began in different countries and regions at different times, it has already taken a toll on first quarter economic figures worldwide.
https://www.businesstimes.com.
Companies’ Brief
GSH gives updates amid pandemic; wins court case over land dispute
Property developer GSH Corporation posted a 32 per cent decline in its hospitality segment’s Q1 2020 revenue to S$13.2 million from S$19.5 million the year before. The Covid-19 pandemic situation is expected to continue to cast a negative impact on the group’s hospitality business, which comprises two hotels in Sutera Harbour Resort and an island resort, Sutera @ Mantanani, in Kota Kinabalu, Sabah, it said in an update on Thursday.
https://www.businesstimes.com.
Views, Reviews, Forum & Others
Some VCs, PEs in a spot as investors dodge capital calls amid pandemic
As businesses and investment portfolios take a hammering from the economic impact of the novel coronavirus, venture capital and private equity firms might have to cope with a surge in investors failing to participate in capital calls.
https://www.businesstimes.com.
Asean economies should tackle structural issues during Covid-19 slump
While Covid-19 has put a pause on investment activities in the region, there are a number of structural issues that Asean economies can and should tackle even as they grapple with the virus fallout. Jeff Pirie, executive director, Corporate Finance Advisory, Deloitte Southeast Asia & Singapore, said this pause in investment activity could last from six months to a year, after which we may see a resurgence in merger and acquisition activity.
https://www.businesstimes.com.
Acceleration towards a decentralised CBD as remote working takes hold
The planning authorities here have spent decades striving towards decentralising the Central Business District (CBD) by bringing workplaces closer to homes; and now in a matter of a few weeks, the revolution is well under way. Companies have been forced to quickly discover the viability of working from home.
https://www.straitstimes.com/
How should office buildings change in a post-pandemic world?
The novel coronavirus pandemic has upended everything, including people’s trust in the places and spaces where we work. For those who design and develop office buildings around the world, this has introduced a new challenge: Once we are cleared to return to the office, how can we convince people that the buildings they use are healthy and safe?
https://www.businesstimes.com.
The new virtual office
If you didn’t actually clock in at the office you were certainly checked in by the boss or one of his lieutenants. Beady eyes observed your arrival time, your journeys to and from the drinks cooler, your time out in the restroom, any gossiping you did, your lunch break and finally your departure time at the end of the day.
https://www.businesstimes.com.
Going digital: Transformation of Asia-Pacific financial landscape
The introduction of open-banking regulations and the granting of digital-banking licences will significantly accelerate and deepen the use of physical and virtual payment solutions across the Asia-Pacific region – to the benefit of consumers, businesses and entire economies.
https://www.businesstimes.com.
Take the carbon-tax opportunity
The Covid-19 pandemic has brought economic and social activity around the world to a near-standstill. As a result, carbon dioxide emissions have declined sharply, and the skies above some large cities are clean and clear for the first time in decades. But “degrowth” is not a sustainable strategy for averting environmental disaster. Humanity should protect itself from climate change not by reducing economic activity, but rather by making it more resilient, robust, and sustainable.
https://www.businesstimes.com.
Update on COVID-19 (Coronavirus Disease 2019) situation
741 new Covid-19 cases; 6 new clusters
A fourth person working at the Singapore Expo community care facility has contracted the coronavirus, as the Ministry of Health (MOH) reported 741 new Covid-19 cases on Thursday. The 43-year-old Singapore citizen is a radiographer who had gone to work at Singapore Expo before he was confirmed to have the infection on Thursday.
https://www.businesstimes.com.
https://www.straitstimes.com/
Coronavirus: Conditions in dorms not main reason for clusters, says Tan Chuan-Jin
The massive outbreak of coronavirus cases among migrant workers in dormitories cannot be attributed to bad living conditions alone, even if there are abysmal examples, said Speaker of Parliament Tan Chuan-Jin yesterday.
https://www.straitstimes.com/
*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
Global Economy & Global Real Estate
No sign Britain wants trade talks to succeed, says EU trade chief
https://www.businesstimes.com.
Britain faces worst slump in 300 years, says Bank of England
https://www.straitstimes.com/
US jobless claims begin decline, but still high at 3.2m
https://www.businesstimes.com.
Grim economic data reveals virus devastation
https://www.businesstimes.com.
Neiman Marcus files for bankruptcy
https://www.businesstimes.com.
https://www.straitstimes.com/
Richest millennial in Britain faces first global crisis in charge
https://www.businesstimes.com.
Saudi fund offered £1.3b for London’s Ritz Hotel amid family feud
https://www.businesstimes.com.
Luxury properties from Hong Kong to New York are getting cheaper
https://www.businesstimes.com.
InterContinental Hotels expects 80% slump in April room revenue
https://www.businesstimes.com.
Currency and stock markets have shrugged off a dire economic report of the Bank of England
https://www.businesstimes.com.
Another 3.17 million Americans file for unemployment benefits
https://www.businesstimes.com.
China iron ore imports jump on firm demand
https://www.businesstimes.com.
China exports see surprise 3.5% jump in April, imports fall
https://www.businesstimes.com.
https://www.straitstimes.com/
Beijing may opt to ditch numerical GDP growth target for 2020
https://www.straitstimes.com/
Japan household spending falls in March as pandemic pain deepens
https://www.businesstimes.com.
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article
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