DAILY NEWS

Daily News – 4 Oct 2022 (Tue)

SINGAPORE REAL ESTATE

More landslides reported in 2020, 2021 amid higher-than-normal rainfall: Desmond Lee
Singapore: More landslides were reported over the last two years compared to previous years, possibly due to higher-than-normal rainfall, Minister for National Development Desmond Lee said on Monday (Oct 3) in response to a parliamentary question.
https://www.channelnewsasia.com/singapore/more-landslides-reported-2020-2021-amid-higher-normal-rainfall-desmond-lee-clementi-bto-2983281
https://www.straitstimes.com/singapore/politics/inspections-on-slopes-may-be-more-frequent-during-intense-wet-weather

Amid rising rates, tight borrowing limits a blessing for Reits, homebuyers
When cost of debt is low, loading up on debt to buy a property is compelling. For a property with an annual entry yield of 3 per cent, the yield on equity rises to 3.4 per cent and 4.5 per cent based on funding the purchase 30 per cent and 60 per cent by debt respectively, assuming cost of debt of 2 per cent per annum.
https://www.businesstimes.com.sg/opinion/amid-rising-rates-tight-borrowing-limits-a-blessing-for-reits-homebuyers

SINGAPORE ECONOMY

Rising share of EP holders in infocomms, but local PMET numbers up too: Tan See Leng
Even as information and communications (ICT) accounts for a growing share of Employment Pass holders (EP), the sector is also seeing an increase in local professionals, managers, executives and technicians (PMETs), said Minister for Manpower Tan See Leng on Monday (Oct 3), making the point that the entry of foreign talent is “not a zero-sum game”.
https://www.businesstimes.com.sg/government-economy/rising-share-of-ep-holders-in-infocomms-but-local-pmet-numbers-up-too-tan-see
https://www.straitstimes.com/singapore/politics/jobs-growth-for-locals-shows-bringing-in-global-talent-not-a-zero-sum-game-tan-see-leng
https://www.channelnewsasia.com/singapore/foreign-manpower-labour-policies-tan-see-leng-parliament-2982131

Singapore amends laws on business trusts for better governance, transparency
Business trusts in Singapore will need to provide more information about their beneficial owners, and unitholders will find it easier to vote to remove trustee-managers. These are some of the changes following an amendment bill passed in Parliament on Monday (Oct 3).
https://www.businesstimes.com.sg/government-economy/singapore-amends-laws-on-business-trusts-for-better-governance-transparency
https://www.straitstimes.com/singapore/politics/singapore-amends-laws-on-business-trusts-for-better-governance-transparency

Singapore PMI contracts for first time in 2 years amid global slowdown
Overall factory activity in Singapore contracted for the first time in two years in September, echoing a region-wide drop in manufacturing sentiment amid cooling demand and persistent price pressures.
https://www.businesstimes.com.sg/government-economy/singapore-pmi-contracts-for-first-time-in-2-years-amid-global-slowdown
https://www.straitstimes.com/business/economy/spore-factory-activity-contracts-for-first-time-since-2020-raising-risk-of-technical-recession

Changi Airport’s average weekly passenger traffic reaches 60% of pre-Covid levels in first week of September
The average weekly passenger traffic at Changi Airport has recovered to above 60 per cent of pre-Covid-19 levels as at the first week of September, more than four months since Singapore’s border reopening.
https://www.businesstimes.com.sg/government-economy/changi-airports-average-weekly-passenger-traffic-reaches-60-of-pre-covid-levels
https://www.straitstimes.com/singapore/politics/airlines-flight-plans-show-changi-airport-volume-should-reach-80-of-2019-levels-by-year-end

VIEWS, REVIEWS, FORUM AND OTHERS

Taxman will be allowed to share certain tax information on firms without getting consent
Singapore – The Inland Revenue Authority of Singapore (Iras) will soon be able to share information on taxpayers with other government agencies for the performance of their official duties, sometimes without getting the consent of the taxpayers.
https://www.straitstimes.com/singapore/politics/taxman-will-be-allowed-to-get-taxpayers-company-information-without-obtaining-consent

Covid-19 panel that decides on relief for firms, individuals to wind down
Singapore – In yet another sign of Singapore moving closer to treating Covid-19 as endemic, a panel that determines whether urgent relief to businesses and individuals unable to fulfil their contractual obligations during the pandemic will be granted will wind down.
https://www.straitstimes.com/singapore/politics/covid-19-panel-that-decides-on-relief-for-firms-individuals-to-wind-down

Vaccination still key to reducing excess deaths resulting from Covid-19
Singapore – Vaccination remains a major part of reducing excess deaths associated with the Covid-19 pandemic, as it significantly reduces the risk of infections turning into severe illness and death, said Health Minister Ong Ye Kung in Parliament on Monday.
https://www.straitstimes.com/singapore/politics/vaccination-key-to-reducing-excess-deaths-resulting-from-covid-19-in-singapore

130 people received wrong dose of Covid-19 vaccine, out of 16 million doses administered so far
Singapore – There have been 130 people here who received a wrong dose of Covid-19 vaccine since Singapore began its vaccination exercise in late 2020, with 11 people affected by overdosing and 119 having received a lower dose than the recommended amount of a vaccine.
https://www.straitstimes.com/singapore/politics/130-people-received-wrong-dose-of-covid-19-vaccine-out-of-16-million-doses-administered-so-far
https://www.todayonline.com/singapore/130-people-administered-wrong-dose-covid-19-vaccine-so-far-all-recovered-or-had-no-adverse-reaction-moh-2009461

HDB says it will continue to refine barrier-free parking system after feedback about app, season lots
Singapore: The Housing and Development Board (HDB) said on Monday (Oct 3) that it will continue to refine its barrier-free parking system after receiving feedback from motorists about payment via the Parking@HDB app as well as identifying season parking lots.
https://www.channelnewsasia.com/singapore/hdb-barrier-free-parking-system-improve-system-feedback-app-season-parking-lots-2983051