DAILY NEWS

Daily News – 8 July 2021 (Thu)

Singapore Real Estate

Singapore office market abuzz with investment sale activity
Investment sale activity for Singapore office properties is headed for a recovery, with a flurry of potential deals under way. These include One George Street and Twenty Anson. Suntec City has also seen strata office deals lately.
https://www.businesstimes.com.sg/real-estate/singapore-office-market-abuzz-with-investment-sale-activity

Heartland malls in areas with less retail space per capita may recover more quickly
The recovery of suburban malls will likely be uneven across different locations in Singapore, due to the varying tenant mixes, shopping experiences and catchment sizes. Retail spaces in predominantly residential zones may emerge as more resilient amid limited competition…
https://www.businesstimes.com.sg/real-estate/heartland-malls-in-areas-with-less-retail-space-per-capita-may-recover-more-quickly

Singapore’s construction, marine and process sectors piloting tightened process to bring in foreign workforce
The construction, marine and process (CMP) sectors have begun piloting a programme that will allow foreign workers to be brought into Singapore to address the manpower crunch issue, while mitigating the public health risk associated with the entry of such workers.
https://www.businesstimes.com.sg/government-economy/singapores-construction-marine-and-process-sectors-piloting-tightened-process-to
https://www.straitstimes.com/singapore/migrant-workers-from-india-to-be-brought-in-but-in-small-numbers

Penalties may be waived for BTO cancellation
Home buyers affected by Build-To-Order (BTO) construction delays may be able to cancel their flat booking without penalties. They can appeal, and the Housing Board will consider each case depending on the individual circumstances.
https://www.straitstimes.com/singapore/housing/penalties-may-be-waived-for-bto-cancellation

Singapore Economy

Misrepresentations of CECA have caused unnecessary public concern: PM Lee
Misrepresentations of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) have caused much unnecessary public concern, said Prime Minister Lee Hsien Loong, who highlighted Tuesday’s Parliament debate on the matter.
https://www.businesstimes.com.sg/government-economy/misrepresentations-of-ceca-have-caused-unnecessary-public-concern-pm-lee
https://www.straitstimes.com/singapore/politics/misrepresentations-of-ceca-have-caused-unnecessary-public-concern-pm-lee

Digital sector to grow economy, add 20,000 jobs: Josephine Teo
The infocomm media (ICM) sector is likely to occupy a bigger share of Singapore’s economy in future, Minister for Communications and Information Josephine Teo said on Wednesday. This comes as some 20,000 digital roles are tipped to be added by the committed investments that the Economic Development Board attracted in 2019 and 2020 – or two-fifths of the job creation from these investments.
https://www.businesstimes.com.sg/government-economy/digital-sector-to-grow-economy-add-20000-jobs-josephine-teo

Companies’ Brief

Singapore billionaire Kwek family’s property dynasty challenged in China
Chongqing Sincere Yuanchuang Industrial Co, a cash-strapped Chinese developer owned by Singapore’s richest property family, may undergo a court-led restructuring after a bankruptcy application was filed against it, said people familiar with the matter.
https://www.businesstimes.com.sg/companies-markets/singapore-billionaire-kwek-familys-property-dynasty-challenged-in-china

CapitaLand launches second logistics private fund in India worth S$400m
CapitaLand has launched a second logistics private fund in India worth S$400 million for expansion in the country’s logistics sector, the property giant said on Wednesday. The CapitaLand India Logistics Fund II will invest in the development of key warehousing and manufacturing hubs in six major cities…
https://www.businesstimes.com.sg/real-estate/capitaland-launches-second-logistics-private-fund-in-india-worth-s400m

Views, Reviews, Forum & Others

How Singapore can lead the world in building better buildings
Despite recent headwinds from the shortage of workers, the construction industry in Singapore is cautiously optimistic. This is due to a large backlog of projects which were put on hold due to Covid-19, and slightly more certainty on the direction the world is heading towards.
https://www.businesstimes.com.sg/opinion/how-singapore-can-lead-the-world-in-building-better-buildings

Revisiting building safety and design in a time of climate change
Climate change will affect every aspect of our lives – including the buildings we live and work in. Most people in the United States, for example, spend about 90 per cent of their time indoors. Climate change is fundamentally altering the environmental conditions in which these buildings are designed to function.
https://www.straitstimes.com/opinion/revisiting-building-safety-and-design-in-a-time-of-climate-change

Public housing a social glue for integration
Tuesday’s parliamentary debate on the Ethnic Integration Policy (EIP) suggested there was a confluence of views between the ruling People’s Action Party and the opposition Workers’ Party (WP) on the need to enhance the multiracial inclusiveness of Singapore’s common spaces.
https://www.straitstimes.com/opinion/st-editorial/public-housing-a-social-glue-for-integration

Equities outlook – Will the second half of 2021 be as good as the first?
For the first six months of 2021 – as vaccinations against the Covid-19 virus gained momentum here as well as around the world and hopes grew that economies might soon reopen – the Straits Times Index rose about 287 points or 10.1 per cent to 3,130.46, recovering almost all of the 11.7 per cent it lost for the whole of 2020.
https://www.businesstimes.com.sg/opinion/equities-outlook-will-the-second-half-of-2021-be-as-good-as-the-first

The wealth windfall after Covid-19
Most discussions of inequality focus on income inequality. But almost everywhere, inequalities in wealth – that is the value of financial and real assets that people own, less their liabilities – are far more pronounced. And they have got worse after the Covid-19 pandemic.
https://www.straitstimes.com/opinion/the-wealth-windfall-after-covid-19

Pandemic resilience can give S’pore competitive edge, says MAS chief
Resilience to the pandemic can be a new source of competitive advantage for Singapore and help it bounce back stronger from Covid-19, said Monetary Authority of Singapore managing director Ravi Menon. He was speaking yesterday on the topic…
https://www.straitstimes.com/singapore/politics/pandemic-resilience-can-give-spore-competitive-edge-says-mas-chief

Will Bitcoin become a transaction currency?
Blockchain refers to a technology characterised by a peer-to-peer network that uses cryptography extensively to ensure transparency and immutability of data published on the blockchain. Bitcoin was the first and probably the most famous example of blockchain in action.
https://www.businesstimes.com.sg/opinion/will-bitcoin-become-a-transaction-currency

Update on COVID-19 (Coronavirus Disease 2019) Situation

New cluster emerges with 3 new cases; 2 local cases unlinked
A new cluster was declared yesterday after three new Covid-19 cases were linked to Case 64599. The Ministry of Health did not give any details on Case 64599 or the other patients linked to the new cluster, which now has a total of four cases.
https://www.straitstimes.com/singapore/health/new-cluster-emerges-with-3-new-cases-2-local-cases-unlinked

Groups of up to five can dine in together from next week
Singapore’s step-by-step reopening remains on track, with larger groups of up to five people allowed to dine in at eateries from next Monday and more restrictions likely to be relaxed by the end of the month. The curbs are being eased in tandem with the Republic’s rising vaccination rate.
https://www.straitstimes.com/singapore/groups-of-up-to-five-can-dine-in-together-from-next-week
https://www.businesstimes.com.sg/government-economy/groups-of-5-allowed-to-dine-at-fb-outlets-from-july-12-wedding-receptions-work

Differentiated measures for fully vaccinated persons to kick in soon
Fully vaccinated persons will soon enjoy differentiated safe management measures including larger social gathering group sizes, said the multi-ministry taskforce on Wednesday, when it also confirmed the list of updated measures that will kick in from next week.
https://www.businesstimes.com.sg/government-economy/differentiated-measures-for-fully-vaccinated-persons-to-kick-in-soon

Good basis for relaxing rules for fully vaccinated: Wong
There are good public health reasons for having differentiated Covid-19 measures for fully vaccinated people, as those who have gone for the jab have good protection against the infection and severe illness, said Finance Minister Lawrence Wong yesterday.
https://www.straitstimes.com/singapore/good-basis-for-relaxing-rules-for-fully-vaccinated-wong

Staff who work in places with unmasked clients to get regular rapid testing
From July 15, staff in higher-risk settings will have to undergo regular rapid testing for Covid-19. The Ministry of Health (MOH) had announced on June 10 that as more activities resume, all staff who work in settings with unmasked clients and patrons will be put on a “Fast and Easy testing” (FET) regime, using tests such as the antigen rapid test.
https://www.straitstimes.com/singapore/health/staff-who-work-in-places-with-unmasked-clients-to-get-regular-rapid-testing

Cardiac arrest of teen who received jab still under probe
The Covid-19 vaccine is a possible factor behind why a 16-year-old boy suffered a cardiac arrest last week after a strenuous session of weightlifting in the gym, but there are other possible causes and they are also being looked into.
https://www.straitstimes.com/singapore/health/cardiac-arrest-of-teen-who-received-jab-still-under-probe

Those who took Sinovac jab will still be excluded from perks
People who received the Sinovac Covid-19 jab continue to be excluded from perks like testing exemptions as there is insufficient data to show how effective the Chinese jab is against the Delta strain, said Health Minister Ong Ye Kung.
https://www.straitstimes.com/singapore/those-who-took-sinovac-jab-will-still-be-excluded-from-perks-coronavirus-singapore

Oximeters given out for free being sold online
Oximeters given out by Temasek Foundation have made their way to online platforms such as Carousell and are being sold for as much as $30. The Straits Times has found at least 10 listings on Carousell of the oximeters in their original packaging with the Temasek Foundation logo.
https://www.straitstimes.com/singapore/consumer/oximeters-given-out-for-free-being-sold-online

About 131,000 people have moved their second Covid-19 vaccination appointments forward, with another 200,000 yet to do so.
About 131,000 people have moved their second Covid-19 vaccination appointments forward, with another 200,000 yet to do so. Health Minister Ong Ye Kung, in disclosing this figure yesterday, urged people to do so to get better protection from Covid-19 earlier.
https://www.straitstimes.com/singapore/131000-have-moved-appointments-for-second-dose-forward

Bigger push to vaccinate more seniors: Ong Ye Kung
A bigger push will be made to encourage more seniors to get vaccinated – including doing house visits if needed – as they remain the most vulnerable to Covid-19, Health Minister Ong Ye Kung said yesterday. He pointed to how, in countries with higher vaccination rates that have opened up…
https://www.straitstimes.com/singapore/bigger-push-to-vaccinate-more-seniors-ong-ye-kung

*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