DAILY NEWS

Daily News – 5 Aug 2022 (Fri)

SINGAPORE REAL ESTATE

City Hall office rents hit S$9.82 psf in Q2, second to Marina Bay: Savills
Office rents in the City Hall area 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

HDB resale deals jump 10.5% in July; prices inch up as market moderates: SRX, 99.co
The number of Housing and Development Board (HDB) flats resold rose in July, while resale prices grew at a slower pace, according to flash estimates from property portal SRX and 99.co released on Thursday (Aug 4).
https://www.businesstimes.com.sg/real-estate/hdb-resale-deals-jump-105-in-july-prices-inch-up-as-market-moderates-srx-99co
https://www.straitstimes.com/singapore/housing/hdb-flat-resale-prices-climb-for-25th-straight-month-in-july-with-33-million-dollar-units-sold

SINGAPORE ECONOMY

Singapore prices inaugural S$2.4b of 50-year sovereign green bonds to yield 3.04%
Singapore received strong demand for its inaugural offer of green bonds, allowing the sovereign issuer to reach or surpass pricing indications. The 50-year bonds were priced to yield 3.04 per cent on Thursday, about 11 basis points tighter than price talk of about 3.15 per cent.
https://www.businesstimes.com.sg/companies-markets/singapore-prices-inaugural-s24b-of-50-year-sovereign-green-bonds-to-yield-304
https://www.straitstimes.com/business/economy/mas-launches-first-sovereign-green-bond-aims-to-raise-up-to-24b-with-50-year-debt

Prices of electricity retail plans now almost on par with SP tariff
Singapore: Rising prices of electricity retail plans have narrowed what was once a double-digit difference with SP Group’s regulated tariff to less than 1 cent per kilowatt hour (kWh), as the global energy market continues to face uncertainties.
https://www.channelnewsasia.com/singapore/sp-electricity-price-plans-difference-open-electricity-market-retailers-2853301

Singapore banks see Q2 earnings bump amid rate hikes; CEOs express cautious optimism for rest of 2022
Singapore banking chiefs expect the sector and broader Asian markets to remain resilient for the rest of the year, although they foresee slower growth amid macroeconomic uncertainties. The trio of Singapore banks saw their net profits jump and logged upward swings in net interest margins (NIMs) for the second quarter of 2022.
https://www.businesstimes.com.sg/companies-markets/singapore-banks-see-q2-earnings-bump-amid-rate-hikes-ceos-express-cautious
https://www.straitstimes.com/business/banking/dbs-q2-profit-up-7-to-182-billion-topping-forecasts

Hundreds of ultra-rich Chinese eyeing move to Singapore, generating US$2.4b inflows: consultant
As myriads of China’s high-net-worth (HNW) individuals look to relocate, over 500 of them are expected to come to Singapore — bringing with them at least US$2.4 billion worth of capital inflows for the city-state.
https://www.businesstimes.com.sg/global-enterprise/hundreds-of-ultra-rich-chinese-eyeing-move-to-singapore-generating-us24b-inflows

Asia-Pacific property investment down 17% in H1 as tightening rate cycle, inflation hit deals
Real estate investment in Asia-Pacific dropped 17 per cent on the year in the first half of 2022, as deal activity in several of the region’s major economies moderated from a high base in 2021. Direct real estate investments in the region totalled US$70.9 billion in the 6-month period as a tightening rate cycle…
https://www.businesstimes.com.sg/global-enterprise/asia-pacific-property-investment-down-17-in-h1-as-tightening-rate-cycle-inflation

COMPANIES’ BRIEF

Ascendas Reit to acquire Philips APAC Centre in Singapore for S$104.8m
Ascendas Real Estate Investment Trust (A-Reit) has proposed the acquisition of the Philips Asean Pacific (APAC) Centre from Philips Electronics Singapore for S$104.8 million. A-Reit’s manager said on Thursday (Aug 4) that the proposed deal is “well-aligned” with the Reit’s strategic intention, and will strengthen both its portfolio and customer base.
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-to-acquire-philips-apac-centre-in-singapore-for-s1048m

FLCT sees over 173,000 sq m of leasing in Q3; expects operating conditions to improve
Frasers Logistics & Commercial Trust (FLCT) recorded 173,087 square metres (sq m) of leasing across its portfolio in Q3 ended June, the real estate investment trust’s (Reit) manager said in a Friday (Aug 5) business update.
https://www.businesstimes.com.sg/companies-markets/flct-sees-over-173000-sq-m-of-leasing-in-q3-expects-operating-conditions-to

Keong Hong warns of expected rise in net loss for 9M FY2022
Mainboard-listed construction player Keong Hong Holdings is warning of an expected increase in net loss for the 9 months ended Jun 30, 2022, the board said in a profit guidance on Thursday (Aug 4).
https://www.businesstimes.com.sg/companies-markets/keong-hong-warns-of-expected-rise-in-net-loss-for-9m-fy2022

UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION

Those vaccinated and got infected this year less likely to develop long Covid: NCID
Singapore – Vaccinated persons in Singapore who had Covid-19 over this recent Omicron wave or the one earlier in the year are much less likely to develop long Covid symptoms, said Dr Barnaby Young, head of the Singapore Infectious Disease Clinical Research Network at the National Centre for Infectious Diseases (NCID).
https://www.straitstimes.com/singapore/health/1-in-8-adults-develop-long-covid-lancet-study-suggests

More patients seeking treatment at polyclinics for respiratory infection
Singapore – The average number of patients seeking treatment at polyclinics for acute respiratory infection (ARI) last month doubled from April, said the Ministry of Health (MOH). In response to The Straits Times’ query, the ministry said on Thursday (Aug 4) that the daily average was close to 3,000 last month.
https://www.straitstimes.com/singapore/spike-in-the-number-of-patients-seeking-treatment-at-polyclinics-for-respiratory-infection-last-month

*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