DAILY NEWS

Daily News – 13, 14 & 15 Aug 2022 (Sat, Sun & Mon)

SINGAPORE REAL ESTATE

Retail investors’ muted response to S’pore’s 1st sovereign green bond expected given long tenor: Analysts
Singapore – The muted response from retail investors to Singapore’s inaugural sovereign green bond was expected given the product’s 50-year tenor, analysts said. The lengthy period before the bond matures seems daunting to many individuals but is seen as being more appropriate to institutional investors such as pension funds and insurance companies that have long-term investment horizons.
https://www.straitstimes.com/business/economy/retail-investors-more-subdued-response-to-spores-first-sovereign-green-bonds-expected-given-long-tenor-analysts

Construction firms boost hiring, wages as industry recovers from pandemic
Singapore – Construction companies here are ramping up their hiring and bumping up salaries, as the sector recovers from its worst-hit days at the peak of the Covid-19 pandemic.
https://www.straitstimes.com/singapore/more-firms-hiring-and-higher-wages-for-workers-as-construction-sector-recovers-from-covid-19-setbacks

Why workers are still dying – and what Singapore is doing about it
Despite stepped-up inspections and tightening of workplace safety controls, the number of workplace-related deaths has gone up. Insight looks at what needs to be done to strengthen workplace safety for the long haul.
https://www.straitstimes.com/singapore/why-workers-are-still-dying-and-what-singapore-is-doing-about-it
https://www.straitstimes.com/singapore/32-lives-lost-workplace-fatalities-in-spore-in-2022

COMPANIES’ BRIEF

Ascott Trust plans to buy 9 overseas properties; launches private placement to raise S$150m
Ascott Residence Trust (ART) on Monday (Aug 15) proposed the acquisition of 9 serviced residences, rental housing and student accommodation properties from its sponsor, The Ascott Limited, across 5 markets: Australia, France, Japan, the US and Vietnam.
https://www.businesstimes.com.sg/companies-markets/ascott-trust-plans-to-buy-9-overseas-properties-launches-private-placement-to

Hotel Properties back in black with H1 net profit of S$1.9m
Hotel Properties Limited (HPL), which owns and operates hotels, reversed into the black in the fiscal first half from a year ago as revenue jumped 47.1 per cent, the company said on Friday (Aug 12).
https://www.businesstimes.com.sg/companies-markets/hotel-properties-back-in-black-with-h1-net-profit-of-s19m

Straits Trading declares special dividend; shareholders to get dividend in shares
Straits Trading has declared a special dividend, distributing either ESR shares or Straits Trading shares to entitled shareholders. This special dividend comes after a strong H1 2022 results driven by the divestment of ARA Asset Management to ESR Group.
https://www.businesstimes.com.sg/companies-markets/straits-trading-declares-special-dividend-shareholders-to-get-dividend-in-shares

UOL H1 earnings quadruple to S$371 million on fair-value gains, higher revenue
Property and hospitality group UOL Group on Friday (Aug 12) posted earnings of S$371 million for the first half ended June, up 306 per cent from S$91.3 million in the year-ago period. The increase was spearheaded by fair-value gains of S$190 million in H1, compared to fair-value losses of S$16.9 million in the corresponding period last year.
https://www.businesstimes.com.sg/companies-markets/uol-h1-earnings-quadruple-to-s371-million-on-fair-value-gains-higher-revenue
https://www.straitstimes.com/business/companies-markets/uol-first-half-profit-quadruples-to-371m-on-fair-value-gains-higher-revenue

Data centre, industrial as well as diversified S-Reits leading Q3 2022 performance
Global stock markets have been led by technology, consumer cyclicals and Reit sectors in Q3 2022-to-date. In Singapore, the S-Reits and property trusts sector gained 4.9 per cent in total returns and received S$8 million of net institutional inflows during this period.
https://www.businesstimes.com.sg/companies-markets/data-centre-industrial-as-well-as-diversified-s-reits-leading-q3-2022-performance

VIEWS, REVIEWS, FORUM AND OTHERS

Elections an open fight, says Ong Ye Kung in response to SDP’s plans to contest Sembawang GRC
Singapore – Elections are an open contest, and as long as the competition is healthy, allowing voters to have a choice is a positive thing, said Health Minister Ong Ye Kung on Saturday (Aug 13).
https://www.straitstimes.com/singapore/politics/elections-an-open-fight-says-ong-ye-kung-in-response-to-sdps-plans-to-contest-in-sembawang-grc

‘Not drowning but waving’: Businesses must change to survive in a changed world
You could be forgiven for thinking that business is drowning given today’s myriad problems. But, unlike the victim in Stevie Smith’s famous poem Not waving but drowning, business doesn’t drown. But it sure is waving right now.
https://www.businesstimes.com.sg/leadership-management/not-drowning-but-waving-businesses-must-change-to-survive-in-a-changed-world

UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION

Pandemic deepened divisions in most nations – but not in Singapore, survey finds
Singapore – Most Singapore residents say the government has effectively handled the coronavirus pandemic, in ways that reflected the strength of the political system, a Pew Research Centre survey has found.
https://www.straitstimes.com/asia/pandemic-deepened-political-divisions-in-most-nations-but-not-in-singapore-survey-finds

Indoor mask rule stays as Covid-19 cases remain high even though peak of current wave has passed
Singapore – There are no plans for now to relax Covid-19 rules, including the requirement that people wear a mask indoors, said the Ministry of Health (MOH). In response to queries, MOH on Thursday (Aug 11) said existing safe management measures will continue to stay in place, as the number of cases remain high. This is even as the latest wave of infections has passed its peak.
https://www.straitstimes.com/singapore/health/no-change-to-covid-19-rules-for-now-including-wearing-masks-indoors-moh

*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