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Real Estate Daily News

13 Oct 2020 (Tue)
2020

Singapore Real Estate

Analysts see 'balanced fundamentals' in Singapore's private property market
Private home prices in Singapore have increased just slightly over the last two years and the city-state is not at risk of a housing bubble, a recent report by UBS showed. Industry watchers agree that Singapore's private residential market has "balanced fundamentals"…
https://www.businesstimes.com.sg/real-estate/analysts-see-balanced-fundamentals-in-singapores-private-property-market

Warehouse landlords biggest gainers of rising e-commerce in Asean: DBS
Warehouse landlords are expected to be the biggest gainers as growing Sino-US tensions fuel a strategic shift in manufacturing and logistics value chains to South-east Asia, and more companies adopt a "China+1" strategy.
https://www.businesstimes.com.sg/real-estate/warehouse-landlords-biggest-gainers-of-rising-e-commerce-in-asean-dbs

BuildTech Asia Digital Series to take place virtually on Oct 14-15
The inaugural BuildTech Asia Digital Series will take place virtually on Oct 14-15 to showcase the region's latest range of construction products, services, smart solutions and technological innovations across the entire building life cycle.
https://www.businesstimes.com.sg/real-estate/buildtech-asia-digital-series-to-take-place-virtually-on-oct-14-15-0

Relief period extended for parties unable to fulfil contracts due to Covid-19
The relief periods under Part 2 of Singapore's Covid-19 (Temporary Measures) Act will be extended by one to five months, depending on the category of the contract. Part 2 provides temporary relief from certain legal and enforcement actions. If they are unable to perform their contractual obligations, parties in seven categories of contracts can get temporary relief when they serve a notification for relief.
https://www.businesstimes.com.sg/government-economy/relief-period-extended-for-parties-unable-to-fulfil-contracts-due-to-covid-19
https://www.straitstimes.com/business/property/relief-extended-to-industrial-commercial-property

Update on fair tenancy framework in coming months
Work is progressing on a fair tenancy framework that will establish industry norms on tenancy practices and terms, with an update expected in the coming months, Trade and Industry Minister Chan Chun Sing said yesterday.
https://www.straitstimes.com/singapore/update-on-fair-tenancy-framework-in-coming-months

 

Singapore Economy

Singapore economy faces 'deep scarring' from coronavirus: MAS chief Ravi Menon
Singapore (Bloomberg) - Singapore's central bank chief has said that as much as 20 per cent of the city-state's economy faces "deep scarring" from the coronavirus pandemic. Aviation and tourism industries are a worry, especially with an expected slow recovery in travel, Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said at a virtual event…
https://www.straitstimes.com/business/economy/singapore-faces-deep-scarring-from-coronavirus-mas-chief-ravi-menon

Economists forecast sharp rebound for Singapore's Q3 GDP
A potentially sharp rebound from the gloom and doom of the circuit breaker may prompt a revision of the official full-year growth forecast this week, but experts still think 2020 will go down as Singapore's worst recession.
https://www.straitstimes.com/business/economy/economists-forecast-sharp-rebound-for-spores-q3-gdp

New business models can help raise revenue, ease fixed costs concerns
Beyond focusing on ways to reduce the high fixed costs related to the retail sector, businesses must also look at ways to improve their top line as the sector embarks on its challenging road to recovery. "If we just depend on the traditional model where a retailer performs the role of a middleman . . . with high fixed costs, including rental, it will be very difficult for our retailers to survive and thrive," said Trade and Industry Minister Chan Chun Sing on Monday,
https://www.businesstimes.com.sg/government-economy/new-business-models-can-help-raise-revenue-ease-fixed-costs-concerns
https://www.straitstimes.com/singapore/more-grant-loan-support-to-help-companies-transform

3,600 opportunities available in retail sector; 70% are for jobs
More than 650 companies in the retail sector have offered close to 3,600 opportunities since April this year, of which 70 per cent are jobs, said the Ministry of Manpower (MOM) on Monday. Of these some 2,500 jobs on offer, two in five are PMET roles, such as sales, marketing and business development managers, retail and wholesale trade managers, and commercial and marketing sales executives.
https://www.businesstimes.com.sg/government-economy/3600-opportunities-available-in-retail-sector-70-are-for-jobs
https://www.straitstimes.com/singapore/jobs/2500-jobs-on-offer-in-retail-sector-despite-pandemic

Singapore tightens curbs for those with travel history to Sabah
The measure will also apply to returning Singapore-based travellers under the Reciprocal Green Lane scheme as well as Malaysian citizens and permanent residents entering Singapore under the Periodic Commuting Arrangement. MOH added that it will continue monitoring the situation in other parts of Malaysia, including Kuala Lumpur, Selangor and Putrajaya.
https://www.straitstimes.com/singapore/tightened-curbs-for-those-with-travel-history-to-sabah

Opening up Singapore to travellers from abroad: What arrangements are in place so far?
A reciprocal green lane with Indonesia is the latest addition to the arrangements Singapore has made with countries to relax travel restrictions. Here are the arrangements so far…
https://www.straitstimes.com/singapore/opening-up-the-country-to-travellers-from-abroad

 

Companies' Brief

Keppel T&T exits Thai associate for 827.6m baht; Floatel forbearance pact extended
The logistics and data centre arm of Keppel Corp is divesting its 24.01 per cent equity interest in Thailand-listed Business Online Public Company Limited (BOL) for about 827.6 million baht (S$36 million) in cash. Keppel Telecommunications & Transportation will sell a 20 per cent stake to CTOS Holdings Sdn Bhd and the other 4.01 per cent stake to Min Intanate.
https://www.businesstimes.com.sg/companies-markets/keppel-tt-exits-thai-associate-for-8276m-baht-floatel-forbearance-pact-extended

 

Views, Reviews, Forum & Others

A strong corporate culture is a valuable asset
The Monetary Authority of Singapore (MAS) last month issued its Guidelines on Individual Accountability and Conduct, which contain measures that financial institutions (FIs) should put in place to "promote the individual accountability of senior managers, strengthen oversight over material risk personnel, and reinforce standards of proper conduct among all employees".
https://www.businesstimes.com.sg/opinion/a-strong-corporate-culture-is-a-valuable-asset

Singapore's wired people+tech leadership = edge in recovery
The pandemic has exerted pressure on every industry across every geography to get digital systems up and running quickly. For vital citizen services such as healthcare, government support services and education, Singapore government agencies and businesses have outpaced global peers in delivering innovative, secure digital offerings.
https://www.businesstimes.com.sg/opinion/singapores-wired-peopletech-leadership-edge-in-recovery

Purpose is the compass for resilience
A Crisis has the potential to bring out the best in people. Having gone through several crises, I am optimistic enough to believe that this is true, but also sanguine enough to know that the opposite can also happen. Leadership in this time, and a return to personal and organisational purpose, is fundamental to shape the shared reality of work.
https://www.businesstimes.com.sg/opinion/purpose-is-the-compass-for-resilience

Near virus-free environment vital if 'air travel bubble' is to work
It came as no surprise, but Transport Minister Ong Ye Kung's remarks in Parliament last week - that there can be no overseas holidays this December - was a body blow to those who were still hoping this dreadful year might end on an upswing.
https://www.businesstimes.com.sg/opinion/near-virus-free-environment-vital-if-air-travel-bubble-is-to-work

When doing the right thing is commercially smart as well
This year has been as turbulent as any I can remember. With so many new challenges day-to-day, it has been tempting to put long-term plans to the back of the mind. However, we know there is an even bigger crisis waiting for us in the future. Climate change promises to be more drastic and longer-lasting than any concern we have faced this year, yet finding solutions to these challenges also presents opportunities for all of us. Greater urgency and ambition is needed now.
https://www.businesstimes.com.sg/opinion/when-doing-the-right-thing-is-commercially-smart-as-well

If SIA needs more cash, it should tap travellers instead of investors
Forget the three-hour lunches aboard an A380 aeroplane, and the 30-minute flight simulator experience. If Singapore Airlines (SIA) wants to generate revenue from its customers, it should offer to sell vouchers that its customers can exchange for deeply discounted tickets once international air routes reopen.
https://www.businesstimes.com.sg/companies-markets/if-sia-needs-more-cash-it-should-tap-travellers-instead-of-investors

 

Update on COVID-19 (Coronavirus Disease 2019) Situation

PR who returned from India is 28th Covid-19 patient to die here
A 64-year-old man, who had a history of hypertension, has died from complications due to Covid-19, said the Ministry of Health (MOH) yesterday. The permanent resident is the 28th patient to die from the virus here, almost three months since the last Covid-19-related death.
https://www.straitstimes.com/singapore/health/pr-who-returned-from-india-is-28th-covid-19-patient-to-die-here

Lab disposes of 233 Covid-19 swab samples by accident before testing
A total of 233 Covid-19 swab samples were accidentally disposed of before they were tested, following lapses at a private medical lab. The batch was collected from clinics under the Swab and Send Home (Sash) programme. The test samples were "inadvertently discarded prior to testing" at the lab, a spokesman for Quest Laboratories told The Straits Times yesterday.
https://www.straitstimes.com/singapore/lab-disposes-of-233-swab-samples-by-accident-before-testing
*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

 

Global Economy & Global Real Estate 

New York's commercial rents are far too high
https://www.businesstimes.com.sg/real-estate/new-yorks-commercial-rents-are-far-too-high

Shortage of homes in Berlin despite rent freeze
https://www.businesstimes.com.sg/real-estate/shortage-of-homes-in-berlin-despite-rent-freeze

Japan manufacturers struggle to shake gloom in Oct: Reuters Tankan
https://www.businesstimes.com.sg/government-economy/japan-manufacturers-struggle-to-shake-gloom-in-oct-reuters-tankan

Listings of pandemic beneficiaries to prolong Hong Kong's IPO boom
https://www.businesstimes.com.sg/companies-markets/listings-of-pandemic-beneficiaries-to-prolong-hong-kongs-ipo-boom

Resurgence of Covid-19 in Malaysia likely to weaken economic recovery
https://www.businesstimes.com.sg/asean-business/resurgence-of-covid-19-in-malaysia-likely-to-weaken-economic-recovery

India announces economic stimulus to lift demand, shore up investment
https://www.straitstimes.com/business/economy/india-announces-economic-stimulus-to-lift-demand-shore-up-investment

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