DAILY NEWS

Daily News – 1 Sept 2022 (Tue)

SINGAPORE REAL ESTATE

SLA to update charging framework for remnant land from Sep 1
The charging framework for remnant land will be updated from Sep 1 to better reflect the economic value that landowners can garner from combining remnant land parcels with their adjoining private land, the Singapore Land Authority (SLA) announced on Wednesday (Aug 31).
https://www.businesstimes.com.sg/real-estate/sla-to-update-charging-framework-for-remnant-land-from-sep-1

Bukit Timah Link, Hillview Rise residential sites launched for sale
Two 99-year leasehold sites at Bukit Timah Link and Hillview Rise have been launched for sale under the confirmed list of the Urban Redevelopment Authority’s (URA) second half 2022 Government Land Sales (GLS) programme.
https://www.businesstimes.com.sg/real-estate/bukit-timah-link-hillview-rise-residential-sites-launched-for-sale
https://www.straitstimes.com/business/property/two-private-residential-sites-in-bukit-timah-link-and-hillview-rise-for-sale

GuocoLand to launch preview for Lentor condo project; prices start from S$1,880 psf
GuocoLand will start previews for its Lentor Modern integrated mixed-use development on Friday (Sep 2), with prices starting at S$1,880 per square foot (psf). This will be the first private condominium launch in the Lentor neighbourhood in more than 2 decades
https://www.businesstimes.com.sg/real-estate/guocoland-to-launch-preview-for-lentor-condo-project-prices-start-from-s1880-psf
https://www.straitstimes.com/business/property/lentor-modern-unit-prices-to-start-from-1880-psf-analysts-expect-high-demand

New suburban condos now cost 53.6% more than million-dollar HDB flats: OrangeTee
A new condominium in the suburbs now costs at least 50 per cent more than a 4-room million-dollar Housing and Development Board (HDB) flat in any location. This may explain the recent rising demand for such flats, even in non-mature locations, according to an OrangeTee report released on Wednesday (Aug 31).
https://www.businesstimes.com.sg/real-estate/new-suburban-condos-now-cost-536-more-than-million-dollar-hdb-flats-orangetee

Industrial S-Reits flex buying power, in signal of their counter-cyclical strength
Despite concerns over surging inflation and interest rates, acquisitions by Singapore-listed Real estate investment trusts (S-Reits) – led by those in the industrial space – are bolstering sentiment that the worst could soon be over for this segment of the local market.
https://www.businesstimes.com.sg/opinion/industrial-s-reits-flex-buying-power-in-signal-of-their-counter-cyclical-strength

Strong demand for 5-room BTO flats in Ang Mo Kio despite prices of up to $877k
Singapore – Almost all larger flats in the ongoing Build-To-Order (BTO) sales exercises have been oversubscribed just a day after the launch, with the five-room and three-generation units in Ang Mo Kio proving to be the most popular.
https://www.straitstimes.com/singapore/housing/strong-demand-for-5-room-bto-flats-in-ang-mo-kio-despite-prices-of-up-to-877k

SINGAPORE ECONOMY

Keep calm, be adaptable to deal with supply chain disruptions: Chan Chun Sing
Singapore – In the face of supply chain disruptions, Singaporeans can do their part by staying calm and being adaptable, as doing so gives the country greater leverage when importing the goods it wants, said Education Minister Chan Chun Sing.
https://www.straitstimes.com/singapore/spore-can-address-supply-chain-disruptions-but-people-should-also-be-adaptable-chan-chun-sing

Multidisciplinary talent needed as Singapore develops world’s largest automated port
Singapore – As Singapore develops the world’s largest automated port, a multidisciplinary approach to nurturing talent is needed to meet the manpower demands of the future, said Singapore Maritime Foundation (SMF) chairman Hor Weng Yew.
https://www.straitstimes.com/business/economy/multidisciplinary-talent-needed-as-singapore-develops-worlds-largest-automated-port

Investors shouldn’t give up on ESG because of greenwashing claims
Corporations, fund managers and financial institutions are feeling the heat – not just from climate change, but also from financial regulators who are cracking down on greenwashing. Although investors have long shown some scepticism when it comes to the reporting of environmental, social and governance (ESG) factors…
https://www.businesstimes.com.sg/opinion/investors-shouldnt-give-up-on-esg-because-of-greenwashing-claims

Fixed deposit rates go up as banks and finance companies jostle for market share
Singapore – Interest rates for fixed deposits are moving up and are now at the same or even higher than pre-Covid-19 levels amid an increasingly competitive market for lenders. UOB and Hong Leong Finance are the latest to lift rates.
https://www.straitstimes.com/business/banking/fixed-deposit-rates-go-up-as-banks-and-finance-companies-jostle-for-market-share

COMPANIES’ BRIEF

Wing Tai acquires remaining stake in JV company, Winnoma Investment, for US$18.27m
Holdings’ wholly owned unit, Wing Tai China (WTC) has acquired the remaining 50 per cent stake in Winnoma Investment from its joint venture partners for around US$18.27 million, Wing Tai said in a filing to the Singapore bourse on Wednesday (Aug 31).
https://www.businesstimes.com.sg/companies-markets/wing-tai-acquires-remaining-stake-in-jv-company-winnoma-investment-for-us1827m