DAILY NEWS

Daily News – 9 September 2021 (Thu)

Singapore Real Estate

Four-storey hotel along Sims Avenue up for sale with S$23m guide price
Regin Hotel, a freehold four-storey hotel located at 56 Sims Avenue, has been put up for sale with a guide price of S$23 million, said its exclusive marketing agent CBRE on Wednesday. The guide price translates to S$500,000 per key or S$2,166 per square foot (sq ft) on the total floor area of 10,620 sq ft.
https://www.businesstimes.com.sg/real-estate/four-storey-hotel-along-sims-avenue-up-for-sale-with-s23m-guide-price

Companies’ Brief

Fragrance Group applies to delist from SGX
Property developer Fragrance Group announced on Wednesday that it has made an application to the Singapore Stock Exchange to delist the Catalist- listed company following the completion of its acquisition. In early July, Fragrance Group’s founder and chief executive Koh Wee Meng, through offeror JK Global Treasures, made a voluntary conditional cash offer for all the issued and paid-up ordinary shares of the group at 13.8 Singapore cents per share to take the company private.
https://www.businesstimes.com.sg/real-estate/fragrance-group-applies-to-delist-from-sgx

Steel demand, new investment from Hong Leong Asia give BRC Asia a boost
BRC Asia has so far evaded the turmoil in the construction sector: The seller of steel products is even reporting strong revenue and earnings growth and has attracted the attention of conglomerate Hong Leong Asia.
https://www.businesstimes.com.sg/companies-markets/steel-demand-new-investment-from-hong-leong-asia-give-brc-asia-a-boost

Construction firms’ efforts recognised at BCA’s inaugural Integrated Digital Delivery Awards
Singapore – Building firms Ong&Ong and Woh Hup, as well as two projects, Paya Lebar Quarter and the Kallang Polyclinic and Long Term Care facility, have received top accolades at the inaugural Integrated Digital Delivery (IDD) Awards by the Building and Construction Authority (BCA) on Wednesday (Sept 8).
https://www.straitstimes.com/singapore/construction-firms-efforts-recognised-at-bcas-inaugural-integrated-digital-delivery-awards

Corporate digest
https://www.businesstimes.com.sg/companies-markets/corporate-digest-1445

Views, Reviews, Forum & Others

Navigating the brave new world of hybrid work in Singapore
This week’s spike in Covid-19 cases across Singapore is another setback for companies trying to get their employees to return to the office. While social distancing measures will eventually disappear, questions about the future of office life are here to stay.
https://www.straitstimes.com/opinion/navigating-the-brave-new-world-of-hybrid-work

Politics cannot hold climate deal hostage
Those hoping that the COP26 climate change summit in Glasgow in November will be a success must have watched with some dismay at the seeming impasse between China and the United States at their latest dialogue on the issue.
https://www.straitstimes.com/opinion/st-editorial/politics-cannot-hold-climate-deal-hostage

Digitalisation and new investors can help Singapore firms grow abroad
Embracing digitalisation and being willing to take capital from investors can be helpful for Singapore companies that are looking to grow into newer markets, said speakers at a conference on Wednesday. It comes amid a need for Singapore companies to think about overseas expansion…
https://www.businesstimes.com.sg/companies-markets/digitalisation-and-new-investors-can-help-singapore-firms-grow-abroad

German testing giant opens new $100m regional hub in Singapore
Singapore – A global testing and certification giant has opened a new $100 million regional hub here, in a move Deputy Prime Minister Heng Swee Keat described as a vote of confidence in Singapore and the region amid the Covid-19 pandemic.
https://www.straitstimes.com/business/companies-markets/german-firm-with-new-100m-regional-hub-in-singapore-to-create-50-more

Covid-19 pandemic opens doors for firms to shape fairer, greener, more inclusive future: Finance Minister Lawrence Wong
Singapore – Two years ago, like many people around the world, Finance Minister Lawrence Wong had not heard of video-conferencing app Zoom. He preferred to meet people for discussions and scoffed at the idea of having virtual meetings, he said.
https://www.straitstimes.com/singapore/pandemic-opens-doors-for-firms-to-shape-fairer-greener-more-inclusive-future-finance

New disclosure standards for Singapore retail ESG funds due early 2022: MAS
The Monetary Authority of Singapore (MAS) will set out early next year its regulatory expectations on the disclosure standards that retail funds in Singapore with an ESG (environmental, social, and governance) investment objective must meet, said its managing director Ravi Menon.
https://www.businesstimes.com.sg/banking-finance/new-disclosure-standards-for-singapore-retail-esg-funds-due-early-2022-mas
https://www.straitstimes.com/business/banking/new-disclosure-standards-for-singapore-retail-esg-funds-due-early-2022-mas

Update on COVID-19 (Coronavirus Disease 2019) Situation

347 new locally transmitted Covid-19 cases in Singapore
[Singapore] There were 347 new locally transmitted cases of Covid-19 as at Wednesday noon (Sept 8), said the Ministry of Health (MOH). The ministry did not provide the number of linked and unlinked cases. Three are seniors aged above 70 who are unvaccinated or partially vaccinated and at risk of serious illness, it added.
https://www.businesstimes.com.sg/government-economy/347-new-locally-transmitted-covid-19-cases-in-singapore
https://www.straitstimes.com/singapore/health/347-new-locally-transmitted-covid-19-cases-in-singapore

Unvaccinated 93-year-old woman dies of Covid-19; death toll at 56
[Singapore] An unvaccinated 93-year-old Singaporean woman has died from complications due to Covid-19 infection, said the Ministry of Health (MOH) on Wednesday (Sept 8). The woman developed symptoms on Sept 2, and was admitted to the National Centre for Infectious Diseases on Sunday (Sept 5), where she tested positive for the coronavirus.
https://www.businesstimes.com.sg/government-economy/unvaccinated-93-year-old-woman-dies-of-covid-19-death-toll-at-56
https://www.straitstimes.com/singapore/health/unvaccinated-93-year-old-sporean-woman-dies-of-covid-19-brings-death-toll-in-spore

All 8 cases from Covid-19 cluster at madrasah in Braddell Road from the same Primary 4 class
Singapore – All eight cases of Covid-19 at the Madrasah Irsyad Zuhri Al-Islamiah in Braddell Road involved pupils from the same Primary 4 class. The cluster was reported by the Ministry of Health (MOH) on Tuesday (Sept 7).
https://www.straitstimes.com/singapore/all-8-cases-from-covid-19-cluster-at-madrasah-in-braddell-road-from-the-same-primary-4

The snap 14-day work-from-home regime, explained
From Sept 8, firms must put in place a snap 14-day work-from-home (WFH) regime – for all employees who are able to do so – if one of their employees tests positive for Covid-19 and was in the workplace on any of the past seven days.
https://www.businesstimes.com.sg/government-economy/the-snap-14-day-work-from-home-regime-explained

Singapore’s new Covid-19 workplace rules challenging, say business leaders
Singapore – Business leaders have expressed concerns over the new Covid-19 workplace management rules which, they say, could impact operations if fresh infections force their staff to work from home. Some said that the rules could be disruptive, particularly in the face of a manpower crunch.
https://www.straitstimes.com/singapore/new-covid-19-workplace-rules-challenging-say-firms

askST: How can firms in S’pore operate safely under new Covid-19 measures?
Singapore – The Ministry of Manpower released updated guidelines on how workplaces should operate safely to stem the spread of Covid-19. Among the measures are a snap 14-day work-from-home regimen if an employee with Covid-19 has been at the workplace in the past seven days.
https://www.straitstimes.com/singapore/health/how-firms-can-operate-safely-under-new-measures-0

askST: If touching vegetables could have led to Covid-19 spread, should I wear gloves when grocery shopping?
Singapore – A study conducted by the National Centre for Infectious Diseases found that people who contracted Covid-19 at the Bukit Merah View Market and Hawker Centre in June typically touched fruit and vegetables with their bare hands.
https://www.straitstimes.com/singapore/askst-if-touching-vegetables-could-have-led-to-covid-19-spread-should-i-wear-gloves-when

First flight from Germany under quarantine-free scheme lands in Singapore
[Singapore] The first flight ferrying 100 passengers from Germany travelling under a quarantine-free scheme has landed at Changi Airport. SQ325, operated by Singapore Airlines (SIA), touched down at 5.36pm on Wednesday. It departed Frankfurt at about 10pm local time on Tuesday, or 4am on Wednesday, Singapore time.
https://www.businesstimes.com.sg/government-economy/first-flight-from-germany-under-quarantine-free-scheme-lands-in-singapore
https://www.straitstimes.com/singapore/transport/first-vaccinated-travel-lane-flight-from-germany-lands-in-singapore

*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