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Weekly News Select
Feb 14, 2020 / Issue 7

Top News for the Week
• Singapore raises risk alert for novel coronavirus to Orange
• HDB launches its first BTO exercise for 2020
• Government promises strong budget to counter virus fallout
• STB expects visitor arrivals may fall 25-30%
• JTC signs record S$500 million of deals at Singapore Airshow
• Rolls-Royce to hire 230 more workers in 2020

Residential
Developers explore new ideas to market projects safely amid outbreak
Developers are exploring different ways to safely market their residential projects amid the Covid-
19 virus outbreak, from stepping up the use of digital solutions to curtailing hours at their sales
galleries.
While a number of developers have already rolled out precautionary measures at their showflats -
such as temperature screening, recording travel history declarations and ramping up cleaning
frequencies - they are said to be looking at additional avenues after the DORSCON level was
raised to Orange on Feb 7.
One project that has already chosen to use live video streaming is executive condominium (EC)
Parc Canberra along Canberra Link. Co-developers Hoi Hup Realty and Sunway Developments
will live-stream the balloting process on Friday. To spread out the crowds, applicants were asked
to drop off their ballot tickets in person over two days - instead of one - at the sales gallery in front
of an auditor. At 10am on Feb 14, the balloting exercise will be broadcast live on Parc Canberra's
Facebook page. Successful applications will then be asked to visit the sales gallery during allocated
time slots on Feb 15 to book their preferred unit.
As part of their precautionary measures, some developers are also reducing the opening hours for
their sales galleries.
Another developer, who declined to be named, is carrying out viewings purely by appointment
only for its existing projects, BT understands.
Link to the story:
https://www.businesstimes.com.sg/real-estate/developers-explore-new-ideas-to-market-projects-safely-amid-
outbreak

The M braves virus outbreak with preview
Wing Tai Asia on Thursday announced the opening of its latest development in Bugis, The M
condominium, for a public preview this Saturday.
It also unveiled its indicative pricing, ranging from S$2,200 to S$2,400 per sq ft (psf), which it
described as "not very aggressive".

Weekly News Select
Feb 14, 2020 / Issue 7

The property developer has held off on announcing the date of its actual sales launch and the
number of units it will release for sale, because it wants to gauge buyers' response to the preview
- given the novel coronavirus (Covid-19) situation - before deciding.
The 522-unit residential-commercial property sits in the Ophir-Rochor Corridor, which the
government plans to transform into a vibrant, mixed-use district and "car-lite" precinct, with
cycling paths and more pedestrian walkways.
The property agents who have been pre-marketing the project are confident of a good turnout.
Wing Tai Asia has, nonetheless, introduced health and safety measures such as temperature
screening and collection of visitors' contact details.
The M is expected to be completed in the first quarter of 2024.
Link to the story:
https://www.businesstimes.com.sg/companies-markets/the-m-braves-virus-outbreak-with-preview

3,095 BTO flats up for sale in Toa Payoh, Sembawangx
The Housing Board launched 3,095 Build-To-Order (BTO) flats in the first sales exercise of the
year.
The flats are spread across two housing projects in the mature Toa Payoh estate - one in Kim Keat
and another near Caldecott - and one project in Sembawang.
In Toa Payoh, some 920 two-room flexi, three-room and four-room flats are on offer in Toa Payoh
Ridge, located on a site between Caldecott and Braddell MRT stations.
The other site in Kim Keat, named Kim Keat Ripples, has 708 units in two-room flexi and four-
room flat types.
In Sembawang, the 1,467 units on offer range from two-room flexi to five-room flats, including
45 three-generation flats.
Huttons Asia director of research Lee Sze Teck said he would not be surprised if the larger flats
are 10 times oversubscribed, adding that it is a "conservative" estimate.
Two of the four blocks are facing MacRitchie Reservoir and the four-room flats on the higher
floors in those blocks may prove to be extremely attractive, he added.
"Comparing both Toa Payoh projects, the Kim Keat site is further away from an MRT station and
will likely see less competition, so buyers should take that into consideration when choosing," he
said.
Applications for the flats close on Feb 17.

Links to the story:
https://www.straitstimes.com/singapore/housing/3095-bto-flats-up-for-sale-in-toa-payoh-
sembawang
https://www.businesstimes.com.sg/real-estate/hdb-launches-over-3000-bto-flats-in-first-exercise-for-2020

Over half of new 2-room flats bought by seniors, says HDB
Slightly more than half of all new two-room flats have been bought by seniors aged 55 and above
since the two-room Flexi Scheme was introduced in 2015.
Of these senior buyers, about nine in 10 opted for short leases ranging from 15 to 45 years, in five-
year increments, with the 40-year lease being the most popular, according to the Housing Board.

Weekly News Select
                                                                                                  Feb 14, 2020 / Issue 7

Mr Lee Sze Teck, Huttons Asia director of research, said the take-up rate for the two-room flexi
flats is "reasonable". "It appears that the policy of encouraging the elderly to downsize after family
members move out is actually working.
"This is good for the entire market, as the bigger flats could be put up for sale for other buyers who
need more space, instead of HDB building bigger flats," he said.
Link to the story:
https://www.straitstimes.com/singapore/housing/over-half-of-new-2-room-flats-bought-by-seniors-says-hdb

Jan condo resale prices inch up; Feb data likely to show virus impact
Resale prices for non-landed private residential properties in Singapore rose slightly in January
2020 after a flat performance in December, according to flash estimates from a real estate portal.
Condominium resale prices were up 0.5 per cent compared to December. Year on year (y-o-y),
prices increased 2.3 per cent.
Meanwhile, volume grew 4 per cent to 684 units resold in January, from the 658 units resold in
the previous month. Sales volume climbed 15.9 per cent y-o-y, and was also 13.4 per cent higher
than the five-year average for the month of January.
All three regions saw higher prices y-o-y in January this year. Prices rose 1.7 per cent in the CCR,
2.6 per cent in the RCR, and 2.3 per cent in the OCR.
Links to the story:
https://www.businesstimes.com.sg/real-estate/jan-condo-resale-prices-inch-up-feb-data-likely-to-show-virus-impact
https://www.straitstimes.com/business/property/condo-resale-prices-up-but-virus-outbreak-may-hit-sales

Condo, HDB rents rise in January on lower volume
The housing rental market in Singapore is likely to see a temporary slowdown in activity due to
the novel coronavirus outbreak.
Data released showed, however, that rents for both non-landed private homes and HDB flats had
risen in January, while the number of leasings fell.
Year on year, private home rents rose 2.9 per cent from January 2019, but are still down 15.6 per
cent from their peak in January 2013.
Over in the public housing market, HDB rental volume dropped by 22.5 per cent from a year ago,
and was also by a substantial 14.4 per cent from the five-year average for the month of January.
Year on year, rents increased by 2 per cent, but were still down 13.5 per cent from their peak in
August 2013.

Links to the story:
https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-rise-in-january-on-lower-volume
https://www.straitstimes.com/business/property/leasing-volume-lower-in-january-market-likely-to-slow-down

                Huttons Asia Pte Ltd | L3008899K | ROC No. 200210087C | GST Reg No. 20-0210087-C
               3 Bishan Place #05-01, CPF Building, S (579838) | Tel. (65) 6253 0030 | Fax (65) 6253 0090
                                              www.huttonsgroup.com

Weekly News Select
Feb 14, 2020 / Issue 7

Commercial
Twitter to set up engineering centre in Singapore
Social media platform Twitter said it will set up its first Asia-Pacific engineering centre in
Singapore and create 65 technical jobs.
The centre, part of its expansion in this high-growth region, will be sited at the company's Asia-
Pacific headquarters in the CapitaGreen building in Shenton Way. It will strengthen Twitter's
global engineering capabilities as well as improve service availability and reliability for users, the
company said.
The 65 hires in the next few years will be in product engineering, software engineering, data
engineering and data science.

Link to the story:
https://www.straitstimes.com/business/companies-markets/twitter-to-set-up-engineering-centre-in-singapore

Three Fu Lu Shou Complex strata offices up for sale
A portfolio of three strata office units at Fu Lu Shou Complex in Rochor Road are up for sale at a
guide price of $1,400 per sq ft (psf).
The units, which have a total floor area of about 5,140 sq ft, are next to the lift lobby on level five
of the six-storey block and all have water points, floor traps and toilets.
The expression of interest exercise for the three units closes at 3pm on March 17.

Links to the story:
https://www.straitstimes.com/business/three-fu-lu-shou-complex-strata-offices-up-for-sale

JustCo to open 'smart' centre at The Centrepoint
Co-working space operator JustCo expects to open its first "smart" centre here in the third quarter
of this year.
The facility in The Centrepoint mall in Orchard Road will cater to members but will also allow the
public to use the spaces and amenities - such as hot desks, a lounge, seminar rooms and phone
booths - on a pay-per-minute basis using the company's mobile app.
The centre, its second in a mall here, will be spread across 60,000 sq ft over three floors and include
a robot butler, cardless access with facial recognition capability and a digital wayfinder to help
users find their way around.
Its cafe will also be open to the public.
This will be the first JustCo centre to pilot the pay-per-minute concept, said the Singapore-based
group.
Link to the story:
https://www.straitstimes.com/business/companies-markets/justco-to-open-smart-centre-at-the-centrepoint

Weekly News Select
                                                                                                  Feb 14, 2020 / Issue 7

Retail
F&B players seek rebates as some face imminent closure from outbreak
The Restaurant Association of Singapore (RAS) has asked major landlords for rental rebates to
tide its members over this difficult period, when their takings have plunged by as much as 80 per
cent following the novel coronavirus (Covid-19) outbreak.
With 200,000 food and beverage (F&B) jobs at risk, RAS had, earlier this week, written to 24
major landlords including CapitaLand, Frasers and Mapletree, seeking rental rebates of 50 per cent
from February to April.
Without immediate help, closures of some F&B establishments will be imminent, RAS warned.
Links to the story:
https://www.businesstimes.com.sg/government-economy/fb-players-seek-rebates-as-some-face-imminent-closure-
from-outbreak
https://www.straitstimes.com/singapore/restaurants-ask-malls-for-rent-rebates-to-survive-drop-in-business

Government
Singapore raises risk alert for novel coronavirus to Orange
Singapore authorities on 7 Feb raised their risk assessment of the novel coronavirus from Yellow
to Orange, the second highest level.
"There are now cases that we are unable to determine the source of infection. They are not linked
to any existing cases, nor linked to a travel history to China, and therefore we suspect there are
sources of infection within the community," Gan Kim Yong, Health Minister and co-chair of a
multi-ministry task force set up to combat the virus, said at a press conference, as he explained the
government's decision to raise the risk alert.
The last time the Disease Outbreak Response System Condition (DORSCON) was raised to
Orange was in 2009 during the H1N1 outbreak, as well as during the Sars (severe acute respiratory
syndrome) epidemic in 2003. Orange suggests that the government now considers the disease
severe, with the potential to spread easily between individuals.
With the alert level now at Orange, the authorities are introducing additional precautionary
measures to minimise the risk of further transmission in the community.
They include advice to cancel or defer non-essential large-scale events. Those who choose to
proceed with such events should take necessary precautions, including temperature screening and
a heightened alertness towards unwell individuals or people who have recent travel history to
China.
Links to the story:
https://www.businesstimes.com.sg/government-economy/singapore-raises-risk-alert-for-novel-coronavirus-to-
orange-0
https://www.straitstimes.com/singapore/health/move-to-orange-alert-reflects-heightened-virus-risk-moh
https://www.straitstimes.com/singapore/health/moh-steps-up-virus-response-after-3-new-cases-with-no-known-
source

                Huttons Asia Pte Ltd | L3008899K | ROC No. 200210087C | GST Reg No. 20-0210087-C
               3 Bishan Place #05-01, CPF Building, S (579838) | Tel. (65) 6253 0030 | Fax (65) 6253 0090
                                              www.huttonsgroup.com

Weekly News Select
                                                                                                  Feb 14, 2020 / Issue 7

Strong package in Budget to counter virus fallout
Singapore will roll out a strong economic package next week as part of its Budget to mitigate the
economic fallout from the coronavirus outbreak, with the impact on the trade-reliant economy seen
as worse than during the 2003 severe acute respiratory syndrome (Sars) pandemic.
The increased economic threat stems from several reasons, such as China's economy being much
bigger today as well as being more consumption-and service-oriented, said Minister for National
Development Lawrence Wong, who co-chairs the multi-ministry task force set up to coordinate
Singapore's response to the coronavirus.
Mr Wong declined to reveal the size of the package or whether it will be bigger than the $230
million Sars relief package rolled out during the 2003 crisis, which also battered Singapore's
economy at the time.
Link to the story:
https://www.straitstimes.com/business/economy/strong-package-in-budget-to-counter-virus-fallout

$77m in aid for cabbies, private-hire drivers during outbreak
Cabbies and private-hire drivers will be able to tap a S$77 million package to tide them over the
sharp drop in business caused by the coronavirus crisis.
The package is co-funded, with the government contributing S$45 million and taxi and private-
hire companies paying for the rest.
Some 40,000 drivers will each be eligible for S$20 in relief each day for three months from 14
Feb.
Announcing the package, the authorities said all main taxi hirers will qualify for the aid package.
Links to the story:
https://www.businesstimes.com.sg/transport/77m-in-aid-for-cabbies-private-hire-drivers-during-outbreak

Expansion of Istana Park part of plans to refresh Orchard Road
Part of Orchard Road could be turned into a car-free green space as part of wide-ranging plans to
redesign and expand Istana Park to include Dhoby Ghaut Green.
The proposal would mean realigning a stretch of Orchard Road from the Istana to SMA House to
merge with Penang Road.
The ideas were among proposed enhancements to refresh Singapore's shopping belt unveiled by
the National Parks Board (NParks) and Urban Redevelopment Authority (URA).
The plans will be showcased at a month-long public exhibition at The URA Centre.
Link to the story:
https://www.straitstimes.com/singapore/expansion-of-istana-park-part-of-plans-to-refresh-orchard-road

                Huttons Asia Pte Ltd | L3008899K | ROC No. 200210087C | GST Reg No. 20-0210087-C
               3 Bishan Place #05-01, CPF Building, S (579838) | Tel. (65) 6253 0030 | Fax (65) 6253 0090
                                              www.huttonsgroup.com

Weekly News Select
Feb 14, 2020 / Issue 7

Economy
Companies will be hit harder by supply chains disruption than during Sars outbreak
THE impact of factory closures and cuts to transport links across China will have more far-
reaching implications for businesses compared with the Severe Acute Respiratory Syndrome
(Sars) epidemic of 2003, say market watchers, even as they stress that there are still too many
questions surrounding the novel coronavirus outbreak.
"Many companies have business continuity plans but very few of those plans include scenarios for
an entire national supply chain shortage. Most companies are very used to managing crises but
they tend to be over within a number of days or weeks," said an expert.
Mainland China alone accounts for 30-40 per cent of the world's total exports of textiles and
footwear products, and 20 per cent of the world's exports of machinery and electrical equipment.
This does not include indirect shipments through Hong Kong.
Closures of transport links has also exacerbated the situation. Hubei province is not only one of
China's manufacturing hubs, it is also a transport hub.
Looking at countries in the region, an economist said Singapore and Thailand will likely be most
impacted and could see some growth downgrades. Other Asean countries including Malaysia and
Vietnam will see a small impact, while Indonesia and the Philippines are seen to be least hit.
Links to the story:
https://www.businesstimes.com.sg/government-economy/companies-will-be-hit-harder-by-supply-chains-
disruption-than-during-sars
https://www.straitstimes.com/business/companies-markets/production-shipment-delays-hit-manufacturers

Businesses look to targeted help measures in Budget
Coming out of 2019's slowdown, companies here have been looking to the upcoming Budget for
support - a hope that has intensified as the Covid-19 outbreak threatens to hammer the Singapore
economy.
Under the broad umbrella of productivity, observers have named digital transformation,
innovation, and manpower as some key issues to tackle - just as stimulus measures could be
unveiled as the five-year term of government comes to an end.
Link to the story:
https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/businesses-look-to-targeted-help-
measures-in-budget

SMEs adding skilled jobs for locals: ESG
Singapore companies could create S$17.3 billion in value added, with the support they got last
year from government agency Enterprise Singapore (ESG); the sum is 69 per cent more than the
value added in 2018.
The growth came as ESG reached 11,450 businesses and supported 13,560 projects last year, the
agency disclosed. Its support is tipped to add 21,700 skilled jobs, more than double last year's job
creation.

Weekly News Select
Feb 14, 2020 / Issue 7

Meanwhile, ESG helped 2,600 companies venture abroad last year, mainly in China and South-
east Asia. These are expected to yield S$8.8 billion in overseas sales and S$8.9 billion in overseas
investments. The agency had enabled 570 overseas projects in 2018, for about S$11.1 billion in
sales and S$6.1 billion in investments.
Links to the story:
https://www.businesstimes.com.sg/government-economy/smes-adding-skilled-jobs-for-locals-esg
https://www.businesstimes.com.sg/government-economy/firms-cant-let-up-on-upgrading-during-downturn-esg
https://www.straitstimes.com/business/economy/jump-in-number-of-firms-starting-projects
https://www.straitstimes.com/business/economy/firms-urged-to-continue-lifting-productivity-despite-virus-spread

Singapore SMEs seize opportunities in growing aerospace sector
With the help of government agencies and trade associations and chambers (TACs), local small-
and mid-sized enterprises (SMEs) are also benefiting from the growth of the aerospace sector.
Some have leveraged their existing capabilities in other industries to serve aerospace needs while
others are developing purpose-built solutions for the big boys.
For example, logistics company CK Shipping pivoted to specialise in aerospace and aviation
logistics in 2018, after focusing on general cargo for the previous 17 years. Composite Cluster
Singapore is another company that has found aerospace applications for its existing capabilities.
Diamond Aviation, which in 2011 started out managing repairs for aircraft components and
engines through approved repair facilities around the world, has able to expand its business scope
significantly as the sector grew and more players came to Singapore for MRO services.
Link to the story:
https://www.businesstimes.com.sg/transport/singapore-smes-seize-opportunities-in-growing-aerospace-sector

DBS cuts Singapore's 2020 growth forecast to 0.9%
DBS Group Research has downgraded its growth forecast for Singapore's 2020 real gross domestic
product (GDP) to 0.9 per cent, from 1.4 per cent previously.
This takes into account the likely hits to consumer and business sentiment, tourism and the regional
supply chain from the novel coronavirus outbreak.
For instance, the number of China tourists in Singapore surged to 3.4 million in 2018, six times
that of 568,000 in 2003. China is now Singapore's largest tourism market, accounting for about 19
per cent of total visitor arrivals, which means the travel restrictions imposed thus far will hit the
city-state's tourism sector severely.
China is also Singapore's largest non-oil domestic export market, which means supply chain
disruptions such as extended factory closures in China will have a significant impact on
Singapore's manufacturing sector.
The drop in tourist arrivals and other effects from the outbreak will likely shave off about 0.5
percentage point from the Republic's full-year GDP growth, according to DBS. This assumes that
like the Sars episode, the economic hit will be transient.
The impact will be most deeply felt in the first quarter. A sharp decline in Q1 will soon be followed
by a V-shaped recovery.

Weekly News Select
Feb 14, 2020 / Issue 7

Links to the story:
https://www.businesstimes.com.sg/government-economy/dbs-cuts-singapores-2020-growth-forecast-to-09

Virus outbreak to buffet retail further after 2.8% fall in 2019
Singapore retail sales are expected to be weak this year amid novel coronavirus pressures,
following a 2.8 per cent fall in 2019, which was the steepest decline in six years.
Deepening from 2018's 0.8 per cent fall, the full-year figure marked the first consecutive annual
contraction since the post-Global Financial Crisis period in 2009 and 2010.
On a seasonally adjusted monthly basis, retail sales were down 1 per cent in December, or down
1.4 per cent excluding motor vehicles.
Links to the story:
https://www.businesstimes.com.sg/government-economy/virus-outbreak-to-buffet-retail-further-after-28-fall-in-
2019
https://www.straitstimes.com/business/economy/retail-sector-suffers-worst-year-since-2013

Singapore ranked most liveable city for Asian expats for 15th year
Singapore has been ranked the most liveable city for expatriates from other Asian markets for the
15th year running.
The latest survey cited its excellent infrastructure and amenities, low crime rate and a large expat
community, which provides access to a social network.
Brisbane remained in second place, while Sydney, Nagoya, Osaka and Tokyo tied for third.
Hong Kong's ranking tumbled 52 places to 93rd due to the ongoing socio-political tensions in the
city and months of pro-democracy protests.
Outside of the Asia-Pacific region, Copenhagen is the most liveable location for Asian expats,
coming in ninth overall.
Link to the story:
https://www.straitstimes.com/business/singapore-ranked-most-liveable-city-for-asian-expats-for-15th-year

Shophouse
2 shophouses in Neil Road, 3 in Jasmine Road for sale
Two conservation shophouses in Neil Road and three others with adjoining land in Jasmine Road
are separately up for sale.
The adjoining two-storey units with an attic at 65/67 Neil Road have an indicative price of $15.57
million, or about $2,800 per sq ft (psf), based on the total gross floor area (GFA) of 5,563.7 sq ft.
The 2,703.6 sq ft site, which has a 99-year land tenure with effect from July 4, 1989, is near
Tanjong Pagar and Outram Park MRT stations and within the Chinatown district.
The expression of interest exercise closes at 3pm on March 12.
Potential buyers can also check out the three freehold shophouses at 7, 9 and 11 Jasmine Road,
which have a total guide price of $22.88 million.

Weekly News Select
Feb 14, 2020 / Issue 7

The guide price works out to about $1,185 psf, inclusive of the estimated development charge
based on the proposed GFA of 21,363 sq ft upon redevelopment. The shophouses, which may be
bought separately or collectively, and the land behind have a combined area of 7,121 sq ft.
The expression of interest exercise for the Jasmine Road units and the adjoining land closes at 3pm
on March 19.
Link to the story:
https://www.straitstimes.com/business/property/2-shophouses-in-neil-road-3-in-jasmine-road-for-sale

Hospitality
Outbreak may slash visitor arrivals 25-30%; STB not counting on V-shaped recovery
Singapore’s tourism-linked sectors are in for a rough ride - visitor arrivals may fall by 25 to 30 per
cent this year due to the novel coronavirus outbreak.
The decline will come after four straight years of growth in arrivals and receipts, said the Singapore
Tourism Board (STB) at its annual year-in-review.
International visitor arrivals rose 3.3 per cent year-on-year to 19.1 million in 2019, near the top of
the 18.7 million to 19.2 million forecast range.
Preliminary estimates put tourism receipts at S$27.1 billion, up 0.5 per cent year-on-year but
missing the forecast of S$27.3 billion to S$27.9 billion. For the first nine months of the year,
receipts fell for accommodation (-7 per cent), food and beverage (-5 per cent), and sightseeing,
entertainment, and gaming (-2 per cent), compared to the year-ago period.
However, shopping receipts were up 3 per cent, and other tourism receipts rose 4 per cent,
including higher airfare revenue with more visitor arrivals via local-based carriers.
Business travel and meetings, incentive travel, conventions and exhibitions (BTMICE) had a
weaker 2019.
For the first nine months, BTMICE tourism receipts - excluding sightseeing, entertainment, and
gaming - were down 7 per cent from the year-ago period at S$3.2 billion.
STB attributed this to fewer BTMICE arrivals, which fell 8 per cent to 1.8 million, and
macroeconomic uncertainties affecting spending. The sector tends to do worse in odd years.
In 2019, the hotel industry saw growth across all indicators. Total gazetted hotel room revenue
rose 5.5 per cent to S$4.2 billion, with the average occupancy rate up at 87.1 per cent, from 86 per
cent previously.
Average room rates rose to S$221 from S$218, and revenue per available room hit S$193, up from
S$188.
In the cruise industry, passenger throughput fell 2.5 per cent to 1.8 million, largely due to Royal
Caribbean International's Voyager of the Seas being dry-docked for over a month for
refurbishment. Foreign cruise throughput grew 3.5 per cent, while ship calls rose 3.2 per cent to
414.
China remained the top source market in 2019, accounting for 3.6 million visitors - about a fifth
of all visitors - and S$3.2 billion in receipts excluding sightseeing, entertainment, and gaming. It
was among 11 of Singapore's top 15 source markets to see arrival numbers grow, and one of nine
where arrivals hit new highs.

Weekly News Select
                                                                                                  Feb 14, 2020 / Issue 7

Links to the story:
https://www.businesstimes.com.sg/government-economy/outbreak-may-slash-visitor-arrivals-25-30-stb-not-
counting-on-v-shaped-recovery
https://www.straitstimes.com/singapore/task-force-to-tackle-expected-30-fall-in-tourists
https://www.straitstimes.com/singapore/mice-and-tourism-sectors-prepare-for-slowdown
https://www.straitstimes.com/singapore/tourist-arrivals-spending-hit-record-highs-for-fourth-year

Singapore Airshow 2020: Emptier hallways but aerobatics still wow crowd
The fifth edition of the Singapore Airshow opened to emptier hallways, even as staples like deal
announcements and aerobatics went ahead.
Even though it is open only to trade visitors for now - public days begin this weekend - there was
a noticeable drop in attendance at what is billed as Asia's largest aerospace and defence event.
Major announcements also went ahead. JTC Corporation announced $500 million worth of
agreements with multiple aviation companies, while Airbus revealed an advanced technology
demonstrator with a "blended wing" body.
The airshow was opened by Defence Minister Ng Eng Hen and Transport Minister Khaw Boon
Wan, who said in a Facebook post that exhibitors he spoke to were keen to carry on with the event.
Link to the story:
https://www.straitstimes.com/singapore/transport/emptier-hallways-but-aerobatics-still-wow-crowd

A*Star showcasing green projects at Airshow 2020
Airlines are among the biggest carbon emitters on this planet, but material science could help to
make the industry a smarter and greener one, Singapore researchers suggest.
Singapore's Agency for Science Technology and Research (A*Star) is showcasing more than 10
research projects at the Singapore Airshow 2020, and it is hoping to interest new partners with
these technologies.
One such project involves spraying piezoelectric sensors, which are thin as film, on the surface of
a plane, instead of installing bulkier and heavier sensors off the shelf.
Such sensors detect abnormalities and other defects and could boost preventive maintenance.
Another project involves the use of advanced infrared thermography to help maintenance, repair
and operations teams find defects more easily.
On display is also a project that could prove to be a missing link in companies' quest to build
electric engines, even if it may be years before they are finally ready for use.

Links to the story:
https://www.businesstimes.com.sg/companies-markets/astar-showcasing-green-projects-at-airshow-2020

Singapore Airshow hit by virus fears as some 70 companies pull out
More than 70 participating companies including US aerospace giant Lockheed Martin have pulled
out of the Singapore Airshow over concerns about the coronavirus outbreak, but organisers insisted
that Asia's biggest aviation event would still go ahead.
Notwithstanding the pullout, over 930 companies will still be participating at the biennial event,
which begins on 11 Feb. This is down from the original projection of more than 1,000 participating
companies, provided by the organiser Experia Events back in December 2019.

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                                                                                                  Feb 14, 2020 / Issue 7

Based on the latest figures from Experia Events on Sunday, some 45,000 trade attendees from 140
countries are expected - lower than the over-55,000 from 150 countries projected last December.
The 2018 event drew 54,000 trade attendees.
It also attracted 80,000 public visitors over two days. Experia Events said on Sunday that it expects
ticket sales (to public visitors) for this year's event to be "significantly less than half" compared
with the one in 2018 - given that public attendance will be controlled as part of measures to contain
the coronavirus outbreak.

Links to the story:
https://www.businesstimes.com.sg/transport/singapore-airshow-hit-by-virus-fears-as-some-70-companies-pull-out
https://www.straitstimes.com/singapore/public-day-tickets-for-air-show-capped-due-to-coronavirus
https://www.straitstimes.com/singapore/airshow-to-feature-first-aerial-display-by-2-apache-helicopters-f-15sg-jet

IT Show among major events postponed
In light of uncertainties from the novel coronavirus outbreak, the organiser of Singapore's IT Show,
Food & Beverage Fair and BuildTech Asia/Cargonow has postponed the three events until further
notice.
The popular IT Show 2020 was supposed to take place on March 12-15 at the Suntec Convention
Centre. The annual event is one of the largest consumer electronics exhibitions in the Republic.
The Food & Beverage Fair, a consumer exhibition that showcases Asian flavours from more than
200 exhibitors and products, had been scheduled for March 19-22 at the Singapore Expo.
Meanwhile, building and construction trade show BuildTech Asia/Cargonow had been set to take
place on March 11-13 at the Singapore Expo.
Link to the story:
https://www.businesstimes.com.sg/companies-markets/it-show-among-major-events-postponed

Industrial
Singapore's aerospace sector set to fly higher despite setback
The pullout of more than 70 firms from the Singapore Airshow 2020 may have dealt a setback to
the biennial show, but prospects for the overall industry remain bright as it prepares to capitalise
on growing demand for air travel and aircraft in the region.
The latest figures from EDB show that the local aerospace sector's total output had a compound
annual growth rate of 10 per cent between 2015 and 2018, and surpassed S$11 billion in 2018.
Total employment in the industry soared to 22,000 from 1,000 over the same period.
Global aerospace companies also continue to invest deeply in Singapore as a regional hub. For
example, during the Singapore Airshow 2020 from Feb 11-16, Thales will launch a S$30 million
Aviation Innovation Research Lab with the Civil Aviation Authority of Singapore (CAAS) to drive
innovation in air traffic management technologies.

Links to the story:
https://www.businesstimes.com.sg/transport/singapores-aerospace-sector-set-to-fly-higher-despite-setback
https://www.straitstimes.com/singapore/heng-confident-aviation-sector-will-weather-virus-outbreak
https://www.straitstimes.com/business/spore-must-develop-new-edge-to-be-global-aerospace-node-chan

                Huttons Asia Pte Ltd | L3008899K | ROC No. 200210087C | GST Reg No. 20-0210087-C
               3 Bishan Place #05-01, CPF Building, S (579838) | Tel. (65) 6253 0030 | Fax (65) 6253 0090
                                              www.huttonsgroup.com

Weekly News Select
Feb 14, 2020 / Issue 7

JTC signs record S$500m of deals at airshow
JTC Corporation signed a record S$500 million worth of deals at the Singapore Airshow 2020
with aerospace companies that will be expanding their operations in Singapore over the next five
years.
The value of this year's deals is over 66 per cent higher than the S$300 million signed at Airshow
2018, an indication of the "long-term prospects" for the aerospace industry despite the economic
uncertainty, JTC said.
The agreements are with GE Aviation, Overhaul Services - Singapore; SIA Engineering Company
(SIAEC); Singapore Aero Engine Services (SAESL); Ametek MRO; GE Aviation, Engine
Services - Singapore; Pattonair; and RLC Group (Singapore).
Among the agreements are new facilities and business expansions. JTC said they will expand the
aerospace ecosystem and supplier networks, as well as strengthen Singapore's position as a global
aerospace hub.

Link to the story:
https://www.businesstimes.com.sg/government-economy/jtc-signs-record-s500m-of-deals-at-airshow

Collins Aerospace opens innovation hub in Changi
A unit of New York-listed United Technologies Corporation has opened an innovation hub here.
The 10,000 sq ft facility in Changi will develop and standardise advanced digital and automation
technologies for the company's maintenance, repair and overhaul, and manufacturing operations.
The hub is expected to add more than 40 new jobs at Collins Aerospace in disciplines such as
robotics and automation engineering, software development and data science.
It will also house one of its three centres of excellence that are focused on advancing additive
manufacturing capabilities.

Link to the story:
https://www.straitstimes.com/business/companies-markets/collins-aerospace-opens-innovation-hub-in-changi

Rolls-Royce to add more jobs in Singapore this year
Bristish engineering giant Rolls-Royce is set to create more jobs in Singapore this year as it
expands into the rest of South-east Asia.
The firm will increase its headcount in Singapore by about 10 per cent, hiring technicians and
engineers as it moves to increase its plane engine production capacity.
The company will hire 230 more people this year - 80 for the Seletar campus, and 150 for the
maintenance, repair and overhaul (MRO) facility. 85 per cent of the Rolls-Royce staff are
Singaporeans or permanent residents.

Links to the story:
https://www.businesstimes.com.sg/transport/rolls-royce-to-add-more-jobs-in-singapore-this-year
https://www.straitstimes.com/singapore/rolls-royce-to-create-10-more-jobs-in-spore

Weekly News Select
Feb 14, 2020 / Issue 7

Overseas Markets
China's home sales plunge 90% in first week of February
Home sales in China have been dealt a huge blow by the spreading novel coronavirus with figures
showing that transactions plunged in the first week of February.
New apartment sales dropped 90 per cent from the same period of 2019, according to preliminary
data on 36 cities compiled by China Merchants Securities. Sales of existing homes plummeted 91
per cent in eight cities where data is available.

Link to the story:
https://www.businesstimes.com.sg/real-estate/chinas-home-sales-plunge-90-in-first-week-of-february

Contact:
Lee Sze Teck
Head, Research
(65) 6500 6510
szetecklee@huttonsgroup.com

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