DAILY NEWS

Daily News – 31 Dec 2022, 1, 2 & 3 Jan 2023 (Sat, Sun, Mon & Tue)

SINGAPORE REAL ESTATE

Singapore private home prices up just 0.2% in Q4 on sharp drop in sales
Singapore – The rise in private home prices here cooled to 0.2 per cent in the fourth quarter of 2022, as sales dropped sharply in the face of growing economic headwinds, the latest property curbs and the absence of major new launches.
https://www.straitstimes.com/business/singapore-private-home-prices-up-just-02-in-q4-on-sharp-drop-in-sales
https://www.businesstimes.com.sg/property/growth-singapore-q4-private-home-prices-slows-02-q3-suburban-prices-drop
https://www.channelnewsasia.com/singapore/private-homes-prices-rise-2022-ura-3179591

Sceneca Residence showflat in Tanah Merah draws nearly 3,000 visitors
Singapore – Nearly 3,000 people turned up at Sceneca Residence’s showflat in Tanah Merah on Sunday to preview the first private residential project to be launched in 2023.
https://www.straitstimes.com/business/property/sceneca-residence-showflat-in-tanah-merah-draws-nearly-3000-visitors
https://www.channelnewsasia.com/advertorial/sceneca-mixed-use-development-district-16-offers-premium-facilities-and-amenities-3049516

Dalvey bungalow fetches eye-watering S$85,000 monthly rent
Leasing demand for landed homes is still expanding in the second half of 2022 amid a “red-hot” rental market for residential homes, research by real estate agency PropNex has found.
https://www.businesstimes.com.sg/property/dalvey-bungalow-fetches-eye-watering-s85000-monthly-rent
https://www.straitstimes.com/business/dalvey-estate-bungalow-fetches-eye-watering-85000-monthly-rent

HDB resale prices climb at slower pace of 2.1% in Q4: flash estimates
Housing and Development Board (HDB) resale prices climbed 2.1 per cent in Q4 2022, making the 11th straight consecutive quarterly growth, according to HDB flash estimates released on
Tuesday (Jan 3).
https://www.businesstimes.com.sg/property/hdb-resale-prices-climb-slower-pace-21-q4-flash-estimates
https://www.todayonline.com/singapore/resale-flat-prices-103-2022-slower-127-increase-2021-2083811
https://www.channelnewsasia.com/singapore/hdb-flat-resale-price-index-rpi-2022-sales-volume-bto-3179506

The HDB BTO flat as a generous wedding gift
Buy a Build-To-Order (BTO) flat from the Housing and Development Board (HDB) for a pleasant home to stay in as well as a chance to make money. While many buyers focus on getting an affordable flat to stay in, some buyers may prioritise making a profit from owning a BTO flat over staying in it.
https://www.businesstimes.com.sg/opinion-features/hdb-bto-flat-generous-wedding-gift

SINGAPORE ECONOMY

Testing times ahead, so need to stay united: PM Lee
Singapore must stay united and seize the moment as more testing times are expected in 2023, said Prime Minister Lee Hsien Loong on Saturday (Dec 31). This is even as the Republic has safely weathered the Covid-19 pandemic and emerged stronger from it, he told the nation in his annual New Year message.
https://www.businesstimes.com.sg/singapore/testing-times-ahead-so-need-stay-united-pm-lee
https://www.straitstimes.com/singapore/testing-times-ahead-so-need-to-stay-united-pm-lee
https://www.straitstimes.com/singapore/in-full-pm-lee-s-new-year-message-2023

Singapore GDP grows 3.8% in 2022, as Q4 moderates to 2.2%: flash estimates
Singapore’s economy expanded 3.8 per cent in 2022, with growth in the services sector helping to offset sluggish performance in the manufacturing sector, according to advance estimates from the Ministry of Trade and Industry (MTI) on Tuesday (Jan 3).
https://www.businesstimes.com.sg/singapore/singapore-gdp-grows-38-2022-q4-moderates-22-flash-estimates
https://www.straitstimes.com/business/singapore-s-economic-growth-slows-to-38-in-2022-outlook-darkens-for-2023
https://www.channelnewsasia.com/business/singapore-economy-grew-38-2022-slower-76-percent-2021-mti-3178891

Bleak outlook for Singapore’s electronics, semicon manufacturing amid global slowdown
Electronics manufacturing in Singapore is expected to decline in 2023 as the industry’s global slowdown continues, amid challenging macroeconomic conditions and weaker external demand for consumer electronics.
https://www.businesstimes.com.sg/singapore/economy-policy/bleak-outlook-singapores-electronics-semicon-manufacturing-amid-global

Inflation, China reopening and US recession to define S’pore’s economic growth in 2023
Singapore – Following a multitude of crises and shocking events in 2022, there is growing consensus that, in terms of the economy, things will get better from now on.
https://www.straitstimes.com/business/inflation-china-reopening-and-us-recession-to-define-s-pore-s-economic-growth-in-2023

What’s next for Singapore and the world in 2023?
The Straits Times looks ahead to the biggest issues of the new year, from the possibility of a recession to the rise of quantum computers.
https://www.straitstimes.com/singapore/what-s-next-for-singapore-and-the-world-in-2023

Look Ahead 2023: Young Singaporeans need to act fast to minimise impact as inflation persists and growth slows in new year, say experts
Singapore — The current climate of persistent inflation and dampened economic growth looks set to continue in 2023, and young professionals in Singapore unused to such scenarios will have to take steps to safeguard their future, experts say.
https://www.todayonline.com/singapore/look-ahead-2023-inflation-economy-2083021

Lower household electricity bills in Q1 next year as tariffs fall
Electricity bills will likely be lower next year, particularly between Jan 1 and Mar 31. Electricity tariffs will fall by an average 0.79 Singapore cent per kilowatt-hour (kWh), or 2.7 per cent, compared with the previous quarter.
https://www.businesstimes.com.sg/companies-markets/energy-commodities/lower-household-electricity-bills-q1-next-year-tariffs-fall
https://www.straitstimes.com/singapore/lower-household-electricity-bills-in-q1-2023-as-tariff-falls-by-27
https://www.todayonline.com/singapore/sp-groups-electricity-tariff-fall-average-27-coming-quarter-2082376
https://www.channelnewsasia.com/singapore/electricity-tariff-fall-decrease-energy-price-sp-group-3174671

Rebates for 950,000 households to offset utility and conservancy bills from January
About 950,000 Singaporean households living in Housing Board flats will each receive up to S$190 in goods and services tax voucher (GSTV)-U-Save rebates from January to offset their GST and other living expenses as part of the government’s moves to mitigate the rising cost of living.
https://www.businesstimes.com.sg/singapore/rebates-950000-households-offset-utility-and-conservancy-bills-january
https://www.straitstimes.com/singapore/some-950000-households-to-get-rebates-to-offset-utility-and-conservancy-bills-for-from-jan-2023
https://www.channelnewsasia.com/singapore/gst-vouchers-payout-cash-rebates-2022-final-tranche-january-february-950000-households-gstv-cdc-3175011

COMPANIES’ BRIEF

Keppel forging ahead with transformation plan, asset monetisation efforts
Conglomerate Keppel Corp has made “significant progress” in simplifying its business through several transactions in 2022, and these will now fast-track the company’s transformation from a group of diverse parts into one integrated business, chief executive Loh Chin Hua said in a New Year message to employees on Monday (Jan 2).
https://www.businesstimes.com.sg/companies-markets/keppel-forging-ahead-transformation-plan-asset-monetisation-efforts

Starhill Global Reit to sell Tokyo property for 1.88b yen
Starhill Global Real Estate Investment Trust (Reit) has agreed to sell its entire beneficial interests in a Tokyo property for 1.88 billion yen (S$18.9 million), its manager said in a statement on Friday (Dec 30).
https://www.businesstimes.com.sg/companies-markets/starhill-global-reit-sell-tokyo-property-188b-yen

VIEWS, REVIEWS, FORUM AND OTHERS

Singapore appoints first government chief sustainability officer
The Ministry of Sustainability and the Environment (MSE) is establishing a government chief sustainability officer (GCSO) position with effect from Jan 1, 2023, to drive the Republic’s sustainability efforts under the Singapore Green Plan 2030.
https://www.businesstimes.com.sg/singapore/singapore-appoints-first-government-chief-sustainability-officer
https://www.straitstimes.com/singapore/s-pore-appoints-first-govt-chief-sustainability-officer-to-drive-the-nation-s-green-efforts
https://www.channelnewsasia.com/singapore/lim-tuang-liang-appointed-first-government-chief-sustainability-officer-jan-1-3174681

Overcoming the labour crunch in South-east Asia as a small retailer
Faced with an intensified labour crunch, many businesses in South-east Asia are struggling to hire and retain workers in an increasingly competitive hiring market. The retail sector is also not spared, with NTUC LearningHub reporting that over two in five retail employees in Singapore plan to leave the sector in 2023.
https://www.businesstimes.com.sg/opinion-features/overcoming-labour-crunch-south-east-asia-small-retailer

Indian national who died in flammable gas fire is 46th workplace fatality in 2022
Singapore – A 38-year-old Indian national who died in a fire at 21 Tuas Avenue 3 on Friday is the 46th workplace fatality in 2022. On Saturday, the Ministry of Manpower (MOM) said that preliminary investigation suggests that the fire, which occurred at 9.25am, was triggered by the uncontrolled release of acetylene, which is a flammable gas, from cylinders on the premises.
https://www.straitstimes.com/singapore/38-year-old-indian-national-who-died-in-a-fire-in-tuas-is-46th-workplace-fatality-in-2022
https://www.channelnewsasia.com/singapore/one-dead-tuas-avenue-3-fire-gas-cylinders-workplace-accident-scdf-police-3175256

Singapore ready to step up border measures if needed; MOH monitoring situation as China reopens
The Ministry of Health (MOH) stands ready to step up measures if necessary, and is closely monitoring the global Covid-19 situation even as China reopens its borders from Jan 8, 2023.
https://www.businesstimes.com.sg/singapore/economy-policy/singapore-ready-step-border-measures-if-needed-moh-monitoring-situation
https://www.straitstimes.com/singapore/health/no-change-in-s-pore-s-covid-19-border-measures-but-moh-monitoring-situation-as-china-reopens-borders
https://www.todayonline.com/singapore/strain-healthcare-covid-19-restrictions-2083356
https://www.channelnewsasia.com/singapore/moh-singapore-border-health-measures-global-cautious-covid-19-china-3175401

Tourists from China not a Covid-19 threat to Singapore’s population: Infectious diseases don
Travellers from China do not pose much of a Covid-19 threat to Singapore’s highly vaccinated and resilient population, though there might be a surge in mild cases if the country sees a significant influx of Chinese travellers.
https://www.businesstimes.com.sg/singapore/tourists-china-not-covid-19-threat-singapores-population-infectious-diseases-don
https://www.straitstimes.com/singapore/health/tourists-from-china-not-a-covid-19-threat-to-s-pore-s-population-infectious-diseases-expert