DAILY NEWS

Daily News – 4 Aug 2022 (Thu)

SINGAPORE REAL ESTATE

Yanlord unit receives URA’s nod to develop serviced apartments, offices, retail space in Anson Road
The rejuvenation of the Anson Road locale in the central business district is set to receive a boost. UE Bizhub Tower, a 23-storey freehold office tower, could make way for a new project comprising serviced residences along with offices and a small amount of retail space.
https://www.businesstimes.com.sg/real-estate/yanlord-unit-receives-uras-nod-to-develop-serviced-apartments-offices-retail-space-in

City Hall office rents hit S$9.82 psf in Q2, second to Marina Bay: Savills
Office rents in City Hall rose 1.3 per cent quarter-on-quarter to S$9.82 per sq ft (psf), making it the second-highest in rent among Grade A central business district (CBD) micro-markets after Marina Bay, Savills Singapore said in a Wednesday (Aug 3) report.
https://www.businesstimes.com.sg/real-estate/city-hall-office-rents-hit-s982-psf-in-q2-second-to-marina-bay-savills

SINGAPORE ECONOMY

Singapore inks 2 agreements to advance sustainable infrastructure in the region
The Republic will host a workshop to help governments in South-east Asia explore green financing options for electric vehicles and eco-friendly transport in a few weeks’ time, said Second Minister for Finance and National Development Indranee Rajah on the second day of the Asia Infrastructure Forum on Wednesday (Aug 3).
https://www.straitstimes.com/singapore/environment/singapore-inks-2-agreements-to-advance-sustainable-infrastructure-in-the-region

Singapore firms blame lack of budget, talent for sustainability struggles: report
Although a majority of Singapore businesses see the importance of sustainability, challenges like insufficient budget and a lack of specialised talent continue to weigh. Around 41 per cent of Singapore business leaders cited these 2 reasons for the lack of sustainability goals, according to a new special report on sustainability by continuing education and training provider NTUC LearningHub.
https://www.businesstimes.com.sg/government-economy/singapore-firms-blame-lack-of-budget-talent-for-sustainability-struggles-report

COMPANIES’ BRIEF

ARA H-Trust posts H1 DPS of US$0.01427; net property income up 131.2%
ARA US Hospitality Trust (ARA H-Trust) on Thursday (Aug 4) posted a distribution per stapled security (DPS) of US$0.01427 for the first half ended Jun 30, comprising capital distributions.
https://www.businesstimes.com.sg/companies-markets/ara-h-trust-posts-h1-dps-of-us001427-net-property-income-up-1312

Ascott Residence Trust retains corporate governance crown for Reits, business trusts
Ascott Residence Trust (ART), the largest hospitality real estate investment trust (Reit) in Asia-Pacific, has topped the ranking among Singapore-listed Reits and business trusts for best corporate governance practices for the second straight year.
https://www.businesstimes.com.sg/companies-markets/ascott-residence-trust-retains-corporate-governance-crown-for-reits-business

Ascott acquires co-living asset in Tokyo via private equity fund
CapitaLand Investment’s wholly-owned lodging business, The Ascott, will acquire a freehold asset in Tokyo, Japan through its private equity fund with the Qatar Investment Authority.
https://www.businesstimes.com.sg/companies-markets/ascott-acquires-co-living-asset-in-tokyo-via-private-equity-fund

DBS beats forecasts with Q2 earnings up 7%, boosted by interest rate hikes
Singapore’s largest bank on Thursday (Aug 4) reported a 7 per cent rise in net profit to S$1.82 billion for Q2 ended June, marking the second-highest level in its history.
https://www.businesstimes.com.sg/companies-markets/dbs-beats-forecasts-with-q2-earnings-up-7-boosted-by-interest-rate-hikes
https://www.straitstimes.com/business/banking/dbs-q2-profit-up-7-to-182-billion-topping-forecasts

VIEWS, REVIEWS, FORUM AND OTHERS

Governance driving sustainability: Reaching a renewed compact
The last year has seen a challenging corporate environment, as companies experienced first-hand the vital importance of adaptability and resilience. As the Covid-19 situation in Singapore went through its various phases, companies had to adapt to the accompanying regulatory changes in safe management measures.
https://www.businesstimes.com.sg/companies-markets/governance-driving-sustainability-reaching-a-renewed-compact

From carbon ambition to delivery
The year 2021 was about ambition-setting. The number of companies establishing science-based targets for decarbonisation had strongly increased since 2015, but it rose dramatically – from 775 in 2020 to 2,166 in 2021 – in the run-up to COP26, the United Nations Climate Change Conference.
https://www.businesstimes.com.sg/opinion/from-carbon-ambition-to-delivery

UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION

Hoping to catch Covid-19 and ‘get it over with’? Think again, say experts
If you are thinking of dropping your guard and hoping to catch Covid-19 just to “get it over with” and “enjoy” the resultant immunity, you should think again, say experts.
https://www.straitstimes.com/singapore/health/hoping-to-catch-covid-19-and-get-it-over-with-think-again-say-experts

Over a third of households have received ART kits under third nationwide distribution exercise
More than a third of households in Singapore have received a set of 10 antigen rapid test (ART) kits in their letterboxes, under the third nationwide distribution exercise which kicked off on July 18.
https://www.straitstimes.com/singapore/over-a-third-of-households-have-received-art-kits-under-third-nationwide-distribution-exercise

*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