DAILY NEWS

Daily News – 18 Aug 2022 (Thu)

SINGAPORE REAL ESTATE

Telok Blangah House up for sale again at lower guide price
Freehold mixed-use development Telok Blangah House has been relaunched for collective sale at a lower guide price of S$92 million, down from the earlier S$98 million price tag in March. The new guide price works out to S$1,744 per square foot per plot ratio (psf ppr) including bonus balcony, said sole marketing agent SRI Capital Market in a press statement on Wednesday (Aug 17).
https://www.businesstimes.com.sg/real-estate/telok-blangah-house-up-for-sale-again-at-lower-guide-price

Chinese VC firm co-founder to buy Bali Lane unit housing Blu Jaz Cafe for S$23 million
A co-founder of Chinese venture capital firm Shunwei Capital is understood to be in the early stage of buying the Bali Lane shophouse property where popular watering hole and live-entertainment venue Blu Jaz Cafe operates.
https://www.businesstimes.com.sg/real-estate/chinese-vc-firm-co-founder-to-buy-bali-lane-unit-housing-blu-jaz-cafe-for-s23-million

Workplace safety must become a priority
Singapore has done well to bring down workplace fatality rates here over the years, with the average rate over a rolling three-year period falling to an all-time low of one death per 100,000 workers last year.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-workplace-safety-must-become-a-priority

SINGAPORE ECONOMY

Dimmer prospects ahead for Singapore exports as July data reveals drag from China slowdown
Singapore’s key exports could cool in the coming months, amid weaker demand from China and dimmer prospects for electronic exports, economists have said. Non-oil domestic exports (NODX) to China contracted sharply by 21.3 per cent year on year in July, compared with a modest growth of 2.1 per cent in the previous month, according to data from Enterprise Singapore (EnterpriseSG) on Wednesday (Aug 17).
https://www.businesstimes.com.sg/government-economy/dimmer-prospects-ahead-for-singapore-exports-as-july-data-reveals-drag-from-china

Gain insights on how Singapore can secure its future as a global gateway city
Talent and businesses have flowed into Singapore as the nation continues to hold itself up as a bridge between the East and the West. In addition to its favourable geographical locale, its liveability and connectivity, as well as its status as a key Asian financial hub have remained significant draws.
https://www.businesstimes.com.sg/companies-markets/gain-insights-on-how-singapore-can-secure-its-future-as-a-global-gateway-city

Despite MAS optimism, transition bonds struggling to take off
The monetary Authority of Singapore (MAS) may be optimistic about the prospects for transition bonds, but industry players said there are critical taxonomy gaps and more flexible alternatives keeping the financing instrument from taking off.
https://www.businesstimes.com.sg/companies-markets/despite-mas-optimism-transition-bonds-struggling-to-take-off

As tourism sector rebounds, businesses must value their employees even more
Tourism is an important sector of Singapore’s economy. The country – a global village of connectivity with its doors open to the world – has battled various threats over the years when it comes to tourism, from bird flu and Sars (severe acute respiratory syndrome) to the Covid-19 pandemic that ended up shutting tourism businesses almost overnight.
https://www.businesstimes.com.sg/sme/as-tourism-sector-rebounds-businesses-must-value-their-employees-even-more

COMPANIES’ BRIEF

Timely for SingLand to unlock value with a Singapore commercial Reit
Several property-related groups posted strong results for the half year ended June. City Developments Limited (CDL) achieved a record net profit of S$1.1 billion for H1 2022, reversing a net loss for H1 2021. CDL is paying a special interim dividend of S$0.12 per ordinary share.
https://www.businesstimes.com.sg/opinion/timely-for-singland-to-unlock-value-with-a-singapore-commercial-reit

OUE C-Reit to refinance borrowings with S$978 million sustainability-linked loan
Mainboard-listed OUE Commercial real estate investment trust (C-Reit) : TS0U 0% successfully completed a S$978 million unsecured sustainability-linked loan to refinance existing secured borrowings.
https://www.businesstimes.com.sg/companies-markets/oue-c-reit-to-refinance-borrowings-with-s978-million-sustainability-linked-loan

VIEWS, REVIEWS, FORUM AND OTHERS

S’pore will have more millionaires per population v US, China by 2030: HSBC
Singapore – In the next eight years, the number of millionaires in Singapore as a share of its population will be more than that of the United States, China or any other economy in the Asia-Pacific region, said HSBC in a report.
https://www.straitstimes.com/business/economy/singapore-will-have-more-millionaires-per-population-vs-us-and-china-by-2030-hsbc

Orchard Towers nightclubs’ entertainment licences will not be renewed over ‘law and order’ concern
Singapore – It may soon be last orders for nightclubs and bars at Orchard Towers. The Straits Times has learnt that operators were told last month in an official notice that their Public Entertainment Licences will not be renewed beyond May next year.
https://www.straitstimes.com/singapore/courts-crime/police-will-not-renew-entertainment-licence-for-nightclubs-and-bars-at-orchard-towers
https://www.channelnewsasia.com/singapore/orchard-towers-nightclubs-bars-licences-not-renewed-massage-beauty-salons-2883611

Gen Zers trail baby boomers in sustainability awareness, climate action: Study
Singapore: A survey that measures the current levels of environmental sustainability awareness and climate action among Singaporeans has found that baby boomers are leading the pack in embracing climate actions.
https://www.channelnewsasia.com/sustainability/gen-z-trail-baby-boomers-sustainability-awareness-climate-action-ocbc-climate-index-survey-2886141