DAILY NEWS

Daily News – 9 Jul 2020 (Thu)

Singapore Real Estate

Offerings beckon in Singapore’s 5 regions
These are unprecedented times for people around the world, including Singapore. Economies are being derailed. New ways of doing things have been adopted on a large scale while trends such as e-commerce and digital payment have accelerated.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/offerings-beckon-in-singapores-5-regions

Consider: Is there opportunity in a crisis in the residential market?
The residential property market has remained remarkably resilient notwithstanding the unprecedented pandemic. Flash estimates for second-quarter 2020 showed that the Urban Redevelopment Authority’s private residential property price index eased by only 1.1 per cent quarter…
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/consider-is-there-opportunity-in-a-crisis-in-the-residential

Preparing for a reset after circuit-breaker measures
The Central Region of Singapore is a misnomer because it is situated in the southern, and not the central, part of Singapore. Its northern boundary touches the central water catchment area, near the centre of Singapore. The Central Region stretches from Marine Parade in the east to Queenstown in the west.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/preparing-for-a-reset-after-circuit-breaker-measures

Time to look west for opportunities
Singapore’s economy is headed for its worst recession since independence, with GDP growth expected to shrink by 7 to 4 per cent in 2020, based on forecasts by the Ministry of Trade and Industry. Given heightened uncertainty, the Singapore property market will face a demand shock in 2020…
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/time-to-look-west-for-opportunities

Steady home demand shows resilience
There is a saying among some of the older baby-boomers who grew up in the east of Singapore, that those who grew up there will almost always want to remain in the east when looking to move into a new home, settling down with a family, or looking to retire.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/steady-home-demand-shows-resilience

The enduring allure of Bukit Timah
With the Urban Redevelopment Authority’s (URA) Master Plan 2019, Bukit Timah is getting a new infusion of green lungs, heritage spots and better connectivity, all of which are set to enhance its enduring allure for generations to come.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/the-enduring-allure-of-bukit-timah

Magnet for private home transactions
In 2019, the North-east Region recorded the highest number of private residential transactions in the suburban market, accounting for 40.3 per cent of the Outside Central Region (OCR) total, while the East, West and North regions accounted for 32.1 per cent, 22.1 per cent and 5.5 per cent respectively.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/magnet-for-private-home-transactions

Homebuyers drawn to live-work-play lifestyle in a green enclave
The ‘live-work-play’ concept is fast becoming a global trend and common buzz word in the real estate industry. People are found to be happier living in a neighbourhood that provides for most of their needs. Many enjoy the ease of living near their work places, amenities and recreational spots.
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/homebuyers-drawn-to-live-work-play-lifestyle-in-a-green

Househunt July 2020
https://www.businesstimes.com.sg/hub-projects/property-2020-july-issue/househunt-july-2020

Singapore Economy

Singapore secures three of top five South-east Asia deals despite Covid-19 slowdown
Singapore – Singapore clinched three of the top five private equity and venture capital deals struck in the region in the first quarter amid markedly slower economic activity across South-east Asia due to the pandemic.
https://www.straitstimes.com/business/companies-markets/singapore-secures-three-of-top-five-south-east-asia-deals-despite-covid

Companies’ Brief

Reits should go beyond minimum disclosure standards
When the manager of Ascendas Real Estate Investment Trust (A-Reit) announced the purchase of a property in Australia last week, it provided just about all the information an investor could want. It said the prime grade logistics property located in Sydney is currently under development by a company called Larapinta Project.
https://www.businesstimes.com.sg/companies-markets/reits-should-go-beyond-minimum-disclosure-standards

CGS-CIMB upgrades ARA Logos to ‘add’, citing stronger focus on growth
CGS-CIMB has upgraded its call on ARA Logos Logistics Trust (ALog) to “add”, from “hold” previously, and raised its target price on the counter slightly to 71.3 Singapore cents, up from 71 Singapore cents. This comes amid more earnings clarity and a shift in focus to growth, wrote CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee in a research note on Tuesday.
https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-ara-logos-to-add-citing-stronger-focus-on-growth

Tee International gets 3.38 cents mandatory cash offer from Tramore Global
Investment holding company Tramore Global is making a 3.38 cents-per-share offer for all the shares in Tee International it does not own as a consequence of a 36.8 per cent stake acquisition, Tee International said in a bourse filing on Tuesday evening (July 7).
https://www.straitstimes.com/business/companies-markets/tee-international-gets-338-cents-mandatory-cash-offer-from-tramore-global
https://www.businesstimes.com.sg/companies-markets/tee-international-to-receive-338-s-cents-mandatory-cash-offer-from-tramore-global

Views, Reviews, Forum & Others

Guard against second wave outbreak
In the circumstances, Singapore would do well to persevere with its carefully calibrated approach to opening up. It is not seeing a second wave of infections yet, but the risk is there always. Some infections are taking place in workplaces, which puts the onus on companies and employers to step up safe management practices.
https://www.straitstimes.com/opinion/st-editorial/guard-against-second-wave-outbreak

Reimagining learning post-pandemic
Since the world’s first modern office buildings were invented in the 1700s, running a business is synonymous with a workforce centralised within a brick-and-mortar workplace. It has taken a global pandemic to disrupt this time-honoured arrangement, with a virtual workplace and a distributed workforce becoming the new normal for us.
https://www.businesstimes.com.sg/opinion/reimagining-learning-post-pandemic

Covid-19 is a catalyst driving change in Asia
Asia will never be the same. Due to the coronavirus and other related geopolitical and societal factors, Asia will not only change faster than the rest of the world, it will drive the rate of change in the rest of the world for the remainder of what some have termed the Asian Century.
https://www.businesstimes.com.sg/opinion/covid-19-is-a-catalyst-driving-change-in-asia

Don’t hold breath for fire sales by owners of Singapore hotels
Singapore’s hotel business continues to be pummelled by Covid-19 with buyers on the sidelines waiting to pounce if owners throw in the towel. Despite staycation offers, Singapore hotels are struggling, given their reliance on international travellers. Foreign visitors in May numbered 880; 1.49 million visitors was recorded in May 2019. In 2019, Singapore had 19.1 million visitors.
https://www.businesstimes.com.sg/real-estate/dont-hold-breath-for-fire-sales-by-owners-of-singapore-hotels

Hotels target staycations, as every bit helps
Hotels in Singapore are rolling out promotions for locals looking for a staycation, and are confident of interest among locals for a holiday away from home. This came as the Singapore Tourism Board announced last Friday that hotels here may apply to reopen for staycation bookings.
https://www.businesstimes.com.sg/companies-markets/hotels-target-staycations-as-every-bit-helps

S-E Asia’s first S Korean startup centre opens in Singapore, focuses on fintech, cyber security
South-East Asia’s first South Korean startup centre was officially opened in Singapore on Wednesday, with a focus on fintech and cyber security. The centre, launched by South Korea’s Ministry of SMEs and Startups (MSS) and supported by Enterprise Singapore (ESG), will be a channel for South Korean SMEs and startups to plug into Singapore’s and the region’s innovation ecosystem. Centres in Sweden and Finland were also launched at the same event.
https://www.businesstimes.com.sg/garage/s-e-asias-first-s-korean-startup-centre-opens-in-singapore-focuses-on-fintech-cyber-security
https://www.straitstimes.com/business/economy/first-cohort-for-singapores-korean-start-up-centre-to-focus-on-fintech

Update on COVID-19 (Coronavirus Disease 2019) Situation

Seven more worker dorms cleared of Covid-19 patients
Seven worker dormitories have been cleared of patients who test positive for Covid-19 and now house only recovered individuals and those who have recently tested negative for the virus. The Ministry of Health (MOH) said yesterday that the inter-agency task force has been clearing dormitories through aggressive testing of migrant workers residing there.
https://www.straitstimes.com/singapore/health/seven-more-worker-dorms-cleared-of-covid-19-patients

WHO nod to evidence of airborne virus transmission
New York • The World Health Organisation (WHO) has acknowledged “emerging evidence” of airborne transmission of the coronavirus, which an international group of scientists found can stay aloft for hours in tiny droplets in stagnant air and infect people as they inhale.
https://www.straitstimes.com/world/united-states/who-nod-to-evidence-of-airborne-virus-transmission
*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