DAILY NEWS

Daily News – 23 Aug 2022 (Tue)

SINGAPORE REAL ESTATE

Boat Quay conservation shophouse up for sale with S$18.8m guide price
A conservation shophouse at 10 Lorong Telok has been put up for sale with a guide price of S$18.8 million via an expression of interest on Tuesday (Aug 23). Nestled within the Boat Quay conservation area, the 3-storey plus attic property has a land size of about 1,410 square feet (sq ft) and a built-up area of about 4,000 sq ft, said exclusive marketing agent Huttons Asia.
https://www.businesstimes.com.sg/real-estate/boat-quay-conservation-shophouse-up-for-sale-with-s188m-guide-price

Relocation of Paya Lebar Air Base could enhance en bloc prospects of some neighbouring condos: analysts
With the relocation of Paya Lebar Air Base (PLAB) and the accompanying lifting of building height restrictions, some resale condominiums in areas around Paya Lebar, Marine Parade and Hougang may stand a better chance at a collective sale, while ageing HDB flats in certain neighbouring towns may be candidates for the Selective En bloc Redevelopment Scheme (SERS), analysts said.
https://www.businesstimes.com.sg/real-estate/relocation-of-paya-lebar-air-base-could-enhance-en-bloc-prospects-of-some-neighbouring

SINGAPORE ECONOMY

Singapore’s new talent attraction initiatives could include special visas, relocation grants: observers
Special visas or work passes for top foreign talent, and government support for multinationals looking to bring them in, are some possible forms which Singapore’s upcoming talent-attraction initiatives could take, industry watchers said.
https://www.businesstimes.com.sg/government-economy/singapores-new-talent-attraction-initiatives-could-include-special-visas

Google will provide USD$1 million to Singapore’s Mandai Nature to tackle climate crisis
Singapore: Google will commit USD$1 million (about S$1.4 million) to Mandai Nature as part of the tech giant’s push to tackle the ongoing climate crisis. This is the first sustainability-focused grant from Google in Singapore, the company announced on Tuesday (Aug 23).
https://www.channelnewsasia.com/singapore/google-will-provide-usd1-million-singapores-mandai-nature-tackle-climate-crisis-2894291

Big bets on expanding MBS and RWS could pay off despite economic risks
Singapore’s 2 integrated resorts (IRs) – Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) – endured a torrid time from early-2020 to early-2022 due to Covid-related movement restrictions. But the IRs are on the road to recovery.
https://www.businesstimes.com.sg/opinion/big-bets-on-expanding-mbs-and-rws-could-pay-off-despite-economic-risks

COMPANIES’ BRIEF

Frasers Property creates new platform to focus on growing network of capital partners
Frasers Property has established a new group corporate function, Frasers Property Capital, to team up with capital partners on new projects, in order to pursue investment opportunities while sharing risks with like-minded joint venture partners.
https://www.businesstimes.com.sg/real-estate/frasers-property-creates-new-platform-to-focus-on-growing-network-of-capital-partners

Tan Chong International’s H1 net profit soars on property disposal
Auto dealer Tan Chong International’s net profit for the first half of 2022 increased to HK$130.6 million (S$23.2 million) from HK$27.1 million, a 381 per cent jump from the same period a year ago. The huge increase was a result of the disposal of 1 of the company’s properties in Singapore, as previously announced in an earlier bourse filing on Jul 7.
https://www.businesstimes.com.sg/companies-markets/tan-chong-internationals-h1-net-profit-soars-on-property-disposal

United Hampshire US Reit in refinancing negotiations for debt maturing in 2023
United Hampshire US Reit (UHReit) has begun negotiations on refinancing options for its short-term liabilities maturing in March 2023, and is confident of a successful outcome, said the real estate investment trust’s (Reit) manager in a bourse filing on Monday (Aug 22).
https://www.businesstimes.com.sg/companies-markets/united-hampshire-us-reit-in-refinancing-negotiations-for-debt-maturing-in-2023

VIEWS, REVIEWS, FORUM AND OTHERS

Singapore ranks 6th in government surveillance of big tech user accounts
Singapore – Singapore ranked sixth in the world for surveillance across the platforms of four tech firms Apple, Google, Meta and Microsoft, based on a study. The study by Netherlands-based cyber-security firm Surfshark examines the tech firms’ transparency reports over eight years from 2013.
https://www.straitstimes.com/singapore/singapore-ranks-6th-for-big-tech-surveillance-study

Masks not needed in most situations as S’pore becomes Covid-19 resilient: Experts
Singapore – After going through two Covid-19 Omicron waves without its healthcare system being overwhelmed, Singapore is ready to move to the next phase, where indoor mask wearing is no longer mandatory except on public transport and in hospitals, experts said.
https://www.straitstimes.com/singapore/masks-not-needed-in-most-situations-as-spore-becomes-covid-19-resilient-experts