DAILY NEWS

Daily News – 9 June 2022 (Thu)

Singapore Real Estate

Lakepoint condo S$640m en bloc tender closes without bids
Lakepoint Condominium closed its collective sale tender without bids and is now entering into private treaty negotiations with interested parties, said exclusive marketing agency PropNex Realty in a statement on Wednesday (June 8).
https://www.businesstimes.com.sg/real-estate/lakepoint-condo-s640m-en-bloc-tender-closes-without-bids
https://www.straitstimes.com/business/property/lakepoint-condo-640m-en-bloc-tender-ends-again-with-no-takers

Public housing in Marina South? Analysts say it is likely, given Govt’s push for more inclusivity
Singapore – The Marina South precinct is likely to have public housing as well, given the Government’s move to inject Housing Board flats into traditionally private housing estates elsewhere, said analysts.
https://www.straitstimes.com/singapore/housing/public-housing-in-marina-south-analysts-say-it-is-likely-given-govts-push-for-more-inclusivity

HDB resale prices rise for 23rd straight month; Woodlands, Pasir Ris see first million-dollar flats
Singapore – Prices for Housing Board resale flats edged up for the 23rd consecutive month in May even as fewer units changed hands, suggesting that demand is continuing to outstrip supply, according to flash data from real estate portals 99.co and SRX on Thursday (June 9).
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-for-23rd-straight-month-woodlands-pasir-ris-see-first-million-dollar-flats
https://www.businesstimes.com.sg/real-estate/higher-bto-supply-leeches-demand-for-hdb-resale-flats-in-may-volumes-drop-51-srx-99co

Singapore Economy

Economists’ forecasts down for Singapore’s 2022 growth, up for inflation; 4.8% growth seen in Q2
Private-Sector economists have raised their full-year forecasts for Singapore’s inflation and lowered them for growth. However, they expect 4.8 per cent growth in the second quarter, up from 3.7 per cent in Q1, going by the latest survey of professional forecasters published by the Monetary Authority of Singapore on Wednesday (Jun 8).
https://www.businesstimes.com.sg/government-economy/economists-forecasts-down-for-singapores-2022-growth-up-for-inflation-48-growth
https://www.straitstimes.com/business/economy/analysts-cut-their-singapore-2022-growth-forecast-amid-inflation-concerns-mas-survey

Singapore’s economy poised for further growth as global demand shifts to Asean: panellists
Singapore’s economy is poised for expansion as global demand shifts to Asean countries, largely due to supply chain disruptions, geopolitical conflicts and China’s zero-Covid policy, speakers at a panel discussion said on Wednesday (June 8).
https://www.businesstimes.com.sg/asean-business/singapores-economy-poised-for-further-growth-as-global-demand-shifts-to-asean

Singapore must continue to make friends, manage inflation and commit to climate goals: Alvin Tan
Singapore must continue to make friends with the rest of the world, manage inflation decisively and commit to its climate goals, said Monetary Authority of Singapore (MAS) board member Alvin Tan on Wednesday (June 8).
https://www.businesstimes.com.sg/asean-business/singapore-must-continue-to-make-friends-manage-inflation-and-commit-to-climate-goals

These are the world’s 20 most expensive cities for expats
Singapore stayed in 13th place despite significant rises in rent, petrol prices and utilities. Those were offset by the Singapore dollar weakening against other regional currencies during the latter part of the survey period, ECA said.
https://www.businesstimes.com.sg/government-economy/these-are-the-worlds-20-most-expensive-cities-for-expats
https://www.straitstimes.com/business/economy/singapore-is-13th-most-expensive-location-for-expats-as-hong-kong-tops-survey

Companies’ Brief

Broker’s take: CGS-CIMB reiterates ‘overweight’ on Singapore property plays following H2 GLS programme release
CGS-CIMB listed CapitaLand Investment (CLI), City Developments Ltd (CDL) and UOL Group under its preferred picks for Singapore’s property sector on Wednesday (Jun 8). The brokerage also reiterated its “overweight” rating on the sector’s valuations following Tuesday’s release of H2 2022’s Government Land Sale (GLS) programme.
https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-reiterates-overweight-on-singapore-property-plays-following

Views, Reviews, Forum and Others

Why companies must be agile enough to adapt their talent game
It used to be that people left their jobs and companies because of the lack of growth and opportunity, and for higher pay. But now, the reasons for attrition are more complex and nuanced, with higher employee expectations, a greater consideration of work life balance, as well as being allowed to have a hybrid work arrangement being thrown into the mix.
https://www.businesstimes.com.sg/opinion/why-companies-must-be-agile-enough-to-adapt-their-talent-game

Manufacturing upturn : Gearing up for growth – and security risks
Despite optimism around post-Covid recovery, Singapore’s manufacturing sector continues to feel the pinch. Ongoing geopolitical tensions from the Russia-Ukraine conflict and the lingering impacts of the pandemic have disrupted global supply chains, resulting in skyrocketing costs of operations.
https://www.businesstimes.com.sg/opinion/manufacturing-upturn-gearing-up-for-growth-and-security-risks

Asian industrial Reit returns hit 10-year high in 2021: Cushman & Wakefield
Industrial Real Estate Investment Trusts (Reits) in Asia-Pacific saw annualised total returns hit a 10-year high last year at 24.7 per cent on the back of unprecedented growth in e-commerce during the past 3 years.
https://www.businesstimes.com.sg/companies-markets/asian-industrial-reit-returns-hit-10-year-high-in-2021-cushman-wakefield

More than 1,000 monkeypox cases reported to WHO
There have been more than 1,000 monkeypox cases reported to the World Health Organization in the current outbreak outside the countries in Africa where it more commonly spreads. WHO Director-General Tedros Adhanom Ghebreyesus said the risk of monkeypox becoming established in these non-endemic countries was real, but preventable at this point.
https://www.businesstimes.com.sg/government-economy/more-than-1000-monkeypox-cases-reported-to-who