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Weekly News Select
Dec 18, 2020 / Issue 51
Top News for the Week
• UOL's Clavon tops first-day launch sales this year at 442 units
• Singapore new home sales up 18.9% in November on economic recovery hopes
• Govt may have to apply more subsidies to keep prime HDB flats affordable:
Desmond Lee
• Vaccination plan a boost for growth in 2021, but border reopening remains key
• Workplace arrangements under review with Phase 3 reopening
• Govt allots record S$25b to science and tech for more resilient Republic
• Opening of TEL's 2nd stage delayed until Q3 next year
• 91,300 job openings available, most are for long-term PMET roles
• Singapore's hawker culture added to Unesco list of intangible cultural heritage
• Pharmaceutical firms to manufacture vaccine in Singapore
Residential
UOL's Clavon tops first-day launch sales this year at 442 units
UOL Group's launch of Clavon along Clementi Avenue 1 at an attractive price resulted in the best
launch-day sales volume this year.
It moved 442 units at an average price of S$1,640 per sq ft during its first weekend launch, UOL
said.
The 442 units sold make up about 70 per cent of the total 640 units in the project, which is being
developed by a 80:20 joint venture between UOL and its subsidiary United Industrial Corporation.
Clavon will have two 37-storey towers.
Huttons Asia research director Lee Sze Teck said that besides the attractive pricing, buyers were
drawn to Clavon by the UOL brand name based on its strong track record.
Links to the story:
https://www.businesstimes.com.sg/companies-markets/uols-clavon-tops-first-day-launch-sales-this-year-at-442-
units
https://www.edgeprop.sg/property-news/uol-sells-70-units-clavon-launch-weekend-average-1640-psf
Singapore new home sales up 18.9% in November on economic recovery hopes
New private home sales in November rose to 767, up 18.9 per cent from October's 645 as buyers
of all stripes pin their hopes on the vaccine to revive economic activities.
A total of 1,375 units were launched for sale by developers in November against 423 in October.
The gains in November came from strong demand at new launches - The Linq @ Beauty World
and The Landmark.
This brings the January-November total to 8,791 units - which exclude executive condominium
(EC) units - according to the Urban Redevelopment Authority (URA), based on its survey of
licensed housing developers.
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Dec 18, 2020 / Issue 51
The 8,791 new units transacted in the first 11 months of 2020 was down by 8.1 per cent from the
9,566 units in the corresponding period of 2019.
Links to the story:
https://www.businesstimes.com.sg/real-estate/singapore-new-home-sales-up-189-in-november-on-economic-
recovery-hopes
https://www.straitstimes.com/business/property/new-home-sales-surge-19-in-nov-as-developers-ramp-up-launches
Mediacorp sells Caldecott Hill site for S$280.9m
An entity to be jointly owned by Perennial Real Estate Holdings and its chairman Kuok Khoon
Hong has clinched Mediacorp's former Caldecott Broadcast Centre plot for S$280.9 million.
It is located at the heart of the Caldecott Hill Good Class Bungalow Area. Mediacorp has been
granted an outline approval by the Urban Redevelopment Authority (URA) for a proposed site
redevelopment into two-storey bungalows with a minimum land area of 800 sq m per house.
Links to the story:
https://www.businesstimes.com.sg/real-estate/mediacorp-sells-caldecott-hill-site-for-s2809m
https://www.straitstimes.com/business/property/caldecott-site-sold-to-joint-entity-for-2809m
Singapore condo resale prices rise for fourth straight month
Resale prices of non-landed private homes in Singapore rose for the fourth straight month in
November, flash figures from a real estate portal showed.
Overall prices were up 0.3 per cent from October 2020, and up 1.3 per cent from November 2019.
All regions saw price increases in November 2020.
Resale volumes were up 1.4 per cent to about 1,426 units resold in November, from 1,407 units
resold a month ago. Volumes were 83.5 per cent higher year on year and 76 per cent higher than
the five-year average volumes for the month of November.
Links to the story:
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-rise-for-fourth-straight-month-srx
https://www.straitstimes.com/business/property/private-resale-prices-up-for-fourth-straight-month-srx
Nov condo, HDB rental volumes up despite travel curbs
More people rented condominium units and Housing and Development Board (HDB) flats in
November, even with border restrictions still in place.
The rental volume for condominiums rose 3.8 per cent month on month to an estimated 4,443 units
in November from 4,281 units in October, showed flash data from a real estate portal.
Year on year, private leasings are 1.1 per cent higher than in November 2019, before the Covid-
19 onset.
HDB rental volume climbed 6.7 per cent month on month to an estimated 1,762 flats in November,
compared to 1,652 flats in October. Year on year, HDB leasings are down by 11.7 per cent from
November 2019.
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Dec 18, 2020 / Issue 51
Links to the story:
https://www.businesstimes.com.sg/real-estate/nov-condo-hdb-rental-volumes-up-despite-travel-curbs
https://www.straitstimes.com/business/property/condo-hdb-rental-volumes-rise-despite-border-curbs
Govt may have to apply more subsidies to keep prime HDB flats affordable: Desmond
Lee
To keep future HDB projects in prime locations affordable, the government may have to apply
more subsidies, on top of those already provided for Build-To-Order (BTO) flat buyers, National
Development Minister Desmond Lee said in a Facebook post.
There is also the "issue of fairness to consider when these additional subsidies add to higher capital
gains for buyers of such flats in prime locations", he noted.
Besides this, measures for upcoming new flats in prime areas would have to balance between
various objectives, including preserving the character of public housing in these estates to remain
inclusive over time, Mr Lee said.
Links to the story:
https://www.businesstimes.com.sg/real-estate/govt-may-have-to-apply-more-subsidies-to-keep-prime-hdb-flats-
affordable-desmond-lee-0
https://www.straitstimes.com/singapore/housing/buyers-of-bto-flats-in-prime-areas-may-get-more-subsidies
Commercial
China's iQiyi expands in Singapore with 'eyes wide open' amid streaming war
The Over The Top (OTT) streaming business may be challenging, but Chinese streaming giant
iQiyi is expanding out of its home market with "eyes wide open" to the challenges, Kuek Yu-
Chuang, the firm's vice-president of international business, told The Business Times in an
interview.
Mr Kuek was speaking ahead of iQiyi's launch of its new international headquarters in Singapore.
The firm has taken up close to 8,000 sq ft of office space at 71 Robinson Road and plans to hire
200 staff in Singapore over the next few years, in roles including content, marketing, sales and
business development.
Founded in 2010 and backed by Chinese Internet giant Baidu, iQiyi has grown into one of the most
popular streaming services in China, where it had 104.8 million subscribers as at end-September.
Links to the story:
https://www.businesstimes.com.sg/garage/chinas-iqiyi-expands-in-singapore-with-eyes-wide-open-amid-streaming-
war
https://www.straitstimes.com/singapore/iqiyi-commits-to-making-more-singapore-content
Singapore CBD rents to hit S$9.54 psf per month by end-2020: report
Emerging vacancy in the market placed a downward pressure on Grade A office rents.
In the fourth quarter of 2020, Grade A office rents corrected for its fourth consecutive quarter,
declining at 2.8 per cent quarter on quarter to S$10.40 per sq ft per month.
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3 Bishan Place #05-01, CPF Building, S (579838) | Tel. (65) 6253 0030 | Fax (65) 6253 0090
www.huttonsgroup.comWeekly News Select
Dec 18, 2020 / Issue 51
This represented a full year decline of 10 per cent in Grade A office rents, which reversed the
rental growth of 6.9 per cent in 2019.
Leasing activity in 2020 was primarily driven by renewals and relocations, with a reduction in
overall footprint.
Links to the story:
https://www.businesstimes.com.sg/real-estate/singapore-cbd-rents-to-hit-s954-psf-per-month-by-end-2020-report-0
Retail
Unmanned, AI-powered Cheers outlet opens at Our Tampines Hub
At the new Cheers convenience store in Our Tampines Hub, you can walk in, grab the items you
need and walk out without having to whip out your phone, credit card or cash to make payment.
Thanks to an advanced artificial intelligence (AI) system in the outlet that tracks customers'
actions, items removed from shelves are recorded automatically and facial recognition technology
is used for payment.
The store is piloting the new AI system, and if the technology and app prove successful, the system
may be rolled out to other Cheers outlets in the future, said Mr Seah Kian Peng, group chief
executive of FairPrice Group.
Link to the story:
https://www.straitstimes.com/singapore/unmanned-ai-powered-cheers-outlet-opens-at-our-tampines-hub
Seating, alcohol curbs still challenging for F&B sector
Food and beverage (F&B) businesses have welcomed the move to allow gatherings of as many as
eight people from Dec 28, up from five now, as Singapore enters Phase 3 of its three-stage
economic reopening.
Although the relaxation of Covid-19 restrictions may come too late to lift Christmas revenue, F&B
players are anticipating the move's impact on their business in the new year, especially the large
family dinners during Chinese New Year.
Links to the story:
https://www.businesstimes.com.sg/sme/seating-alcohol-curbs-still-challenging-for-fb-sector
https://www.straitstimes.com/singapore/businesses-cheer-relaxed-rules-but-border-reopening-still-key
Government
Vaccination plan a boost for growth in 2021, but border reopening remains key
With Covid-19 vaccination set to be available to all long-term residents by end-2021, Singapore's
growth may gain a boost late in the year, said economists - though much hinges on the extent of
border reopening.
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Dec 18, 2020 / Issue 51
The start of Phase 3 this Dec 28, meanwhile, is likely to bring only a modest uplift, they said in
response to the update on the pandemic.
Singapore has set aside more than S$1 billion for vaccines, and if all goes to plan, it will have
enough vaccines for its population by the third quarter of 2021, said Prime Minister Lee Hsien
Loong in a national broadcast.
Vaccination will be free for long-term residents, including long-term work pass holders.
Healthcare workers, frontline personnel, and the elderly and vulnerable will get priority.
The aim is then to progressively vaccinate the rest of the population, with everyone who wants the
vaccine being able to get it by the end of 2021.
Capacity limits will be raised for malls and large standalone stores, at attractions, in places of
worship, and for live performances. Gatherings or visits of up to eight people will be allowed, an
increase from the current limit of five.
Links to the story:
https://www.businesstimes.com.sg/government-economy/vaccination-plan-a-boost-for-growth-in-2021-but-border-
reopening-remains-key
https://www.straitstimes.com/singapore/spore-to-begin-phase-3-on-dec-28
https://www.straitstimes.com/singapore/health/free-voluntary-vaccinations-for-all-sporeans-long-term-residents
https://www.straitstimes.com/singapore/health/hsa-okays-use-of-pfizer-biontech-vaccine-will-keep-monitoring-
safety
https://www.straitstimes.com/singapore/sporeans-urged-to-stay-vigilant-and-abide-by-rules-to-curb-virus
https://www.straitstimes.com/singapore/local-attractions-can-apply-to-raise-capacity-up-to-65
Workplace arrangements under review with Phase 3 reopening
The multi-ministry task force is reviewing workplace arrangements, following the announcement
on the move to Phase 3 reopening on Dec 28, said Manpower Minister Josephine Teo.
Speaking to the media after visiting Singtel together with Senior Minister Tharman
Shanmugaratnam to engage individuals on the SGUnited Traineeships Programme (SGUT) and
SGUnited Mid-Career Pathways Programme (SGUP), she added that discussions have been in the
works for some time, and further details will be given at a later date.
Links to the story:
https://www.businesstimes.com.sg/government-economy/workplace-arrangements-under-review-with-phase-3-
reopening-0
https://www.straitstimes.com/singapore/jobs/curbs-on-staff-working-in-office-may-be-eased
Govt allots record S$25b to science and tech for more resilient Republic
A record S$25 billion is earmarked for the next five years in the government's continuing efforts
to tap science and technology in building a Singapore that will be more resilient, sustainable and
digitalised - and which will emerge stronger in a post-Covid world.
The budget under the latest plan, endorsed by the Research, Innovation and Enterprise Council
(RIE Council) chaired by Prime Minister Lee Hsien Loong, is S$6 billion larger than the previous
one but remains equivalent to around 1 per cent of Singapore's gross domestic product (GDP). A
proportion that has held fairly constant over the years and is on par with the research spendings of
other small advanced economies like Sweden and Denmark, according to the National Research
Foundation (NRF), which provides support to the RIE plan.
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Dec 18, 2020 / Issue 51
RIE 2025, which will build on the progress of investments made in research and development in
the past 30 years, will kick off in 2021, guiding Singapore on where to put its research money to
meet a broader spectrum of national needs in the next five years.
RIE 2025 is the third such 5-year plan which has seen its budget grew progressively from S$16
billion for RIE 2015, to S$19 billion for RIE 2020.
Links to the story:
https://www.businesstimes.com.sg/government-economy/govt-allots-record-s25b-to-science-and-tech-for-more-
resilient-republic
https://www.straitstimes.com/singapore/spore-to-pump-record-25-billion-into-research
https://www.straitstimes.com/singapore/bigger-allocation-of-22b-to-train-scientists-researchers
https://www.straitstimes.com/tech/cyber-security-5g-ai-3-key-drivers-of-post-covid-19-digital-economy
https://www.straitstimes.com/singapore/focus-on-low-carbon-alternatives-to-position-industries-for-the-future
Singapore, Shanghai to boost collaboration in financial services, innovation
Singapore and Shanghai will strengthen collaboration in financial services and innovation, as the
latter develops the China (Shanghai) Free Trade Zone and spearheads the integration of the
Yangtze River Delta region.
Second Minister for Finance Lawrence Wong, who is also Education Minister, has proposed that
Singapore and Shanghai continue to bolster their hub-to-hub connectivity in three key areas.
These key areas are financial connectivity, transport and supply chain, as well as enhancing
innovation linkages, he said during the second Singapore-Shanghai Comprehensive Cooperation
Council (SSCCC) meeting on Friday.
The second SSCCC meeting saw the signing of 10 memoranda of understanding (MOUs) by
government organisations, Singapore banks, as well as the Singapore Exchange (SGX).
Links to the story:
https://www.businesstimes.com.sg/government-economy/singapore-shanghai-to-boost-collaboration-in-financial-
services-innovation-0
https://www.straitstimes.com/business/singapore-shanghai-to-deepen-tie-ups-in-financial-services-and-innovation
S'pore plans to sign free trade agreement with Pacific Alliance in 2021
Singapore is planning to sign a free trade agreement next year with the Pacific Alliance - which
consists of Chile, Colombia, Mexico and Peru - after making significant progress on it.
After three years of negotiations, the Pacific Alliance-Singapore Free Trade Agreement (PASFTA)
has reached a "substantial conclusion", said Prime Minister Lee Hsien Loong's press secretary, Ms
Chang Li Lin, in a statement.
The Latin American trade bloc makes up the eighth-largest economy in the world. Singapore was
invited to the summit as a Candidate Associate State of the Pacific Alliance.
Link to the story:
https://www.straitstimes.com/singapore/spore-plans-to-sign-free-trade-agreement-with-pacific-alliance-in-2021
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Dec 18, 2020 / Issue 51
Singapore, Malaysia in talks over HSR project as deadline nears
Singapore and Malaysia are still in discussions over the twice-delayed high-speed rail (HSR)
project, which has until Dec 31 before officials have to make a final decision on its status, a
Singapore Ministry of Transport spokesman has said.
"Singapore and Malaysia are in discussions on the Kuala Lumpur-Singapore High-Speed Rail
(HSR) project. As communicated in the Dec 2 joint statement by both prime ministers, we will
announce further details on the HSR project in due course," the spokesman said.
Link to the story:
https://www.straitstimes.com/asia/se-asia/singapore-malaysia-in-talks-over-hsr-project-as-deadline-nears
Opening of TEL's 2nd stage delayed until Q3 next year
A signalling fault that disrupted train services on the Thomson-East Coast Line (TEL) on Dec 4
has led to a delay in the opening of the second stage of the line.
It has been pushed back by another six months till the third quarter of next year for a more thorough
review of the rail system software, said the Land Transport Authority (LTA).
In addition, other major rail and road infrastructure projects are also facing delays - of up to a year
- because of the coronavirus pandemic, the LTA added in a statement.
Those affected include the third and fourth stages of the TEL, Cross Island Line, Jurong Region
Line, Circle Line Stage 6 and the North-South Corridor expressway network which links the
northern parts of the island to the city centre.
Link to the story:
https://www.straitstimes.com/singapore/transport/opening-of-tels-2nd-stage-delayed-until-q3-next-year
Lower- and middle-income workers still in hardship can tap new grant
Lower- and middle-income workers hit by Covid-19, and who are still facing financial hardship
despite the earlier help measures, can get more cash support under the Covid-19 Recovery Grant
(CRG) rolled out by the Ministry of Social and Family Development (MSF).
The new grant is different from the existing Covid-19 Support Grant and the Self-Employed
Person Income Relief Scheme (SIRS).
Applications for both the Covid-19 Support Grant and the SIRS will close by Dec 31 this year.
Under the CRG, two groups of workers can get up to S$700 a month for three months - those
retrenched or terminated by their employers; and those placed on involuntary no-pay leave for at
least three straight months
Also, under the grant, up to S$500 per month for three months will be given to employees facing
salary loss of at least 50 per cent on average for at least three consecutive months.
Self-employed persons facing an average loss in net trade income of at least 50 per cent for three
straight months, compared to their average monthly net trade income in 2019 and 2020, can also
receive up to S$500 per month for three months.
Singaporeans and permanent residents eligible for the CRG may start applying for the new grant
from Jan 18, 2021, the Ministry's media release said. Applications will close on Dec 31 next year.
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Links to the story:
https://www.businesstimes.com.sg/government-economy/lower-and-middle-income-workers-still-in-hardship-can-
tap-new-grant
https://www.straitstimes.com/singapore/extra-help-for-workers-badly-hit-by-pandemic
https://www.straitstimes.com/singapore/nearly-200000-self-employed-receive-18b-in-payouts
https://www.straitstimes.com/singapore/transport/drivers-cheer-news-of-more-help-to-offset-vehicle-rental-costs
S'pore, US sign MOU to deepen economic cooperation
Singapore has signed a memorandum of understanding (MOU) with the United States to deepen
economic cooperation and extend trade financing and investment support to each other's
companies.
The MOU aims to improve the availability of and access to trade financing options for companies
from both countries, said the Ministry of Trade and Industry (MTI) in a press release.
The MOU also seeks to strengthen cooperation on investment promotion and provide opportunities
for both countries to explore the use of technology such as fintech to address new trade financing
and investment challenges.
Link to the story:
https://www.straitstimes.com/singapore/spore-us-sign-mou-to-deepen-economic-cooperation
Economy
Digital banks here expected to hire sizeable number of people: MAS
New job opportunities will be created in the lead-up to the 2022 launch of digital banks in
Singapore, with even more positions created as they progress towards becoming full-functioning
banks, said the Monetary Authority of Singapore (MAS).
The jobs include key roles in leadership and management, and positions across business units and
functions such as sales and marketing, business development, compliance and human resources,
Singapore's central bank told The Straits Times.
MAS said it expects the digital banks to employ a "sizeable number of people".
"The numbers could be smaller in the initial, starting years, but as they progress towards becoming
full-functioning banks and expand their business scope over the next few years, we expect their
bench strength to grow," it said.
Link to the story:
https://www.straitstimes.com/business/digital-banks-here-expected-to-hire-sizeable-number-of-people-mas-0
Citi hiring 330 relationship managers for new wealth hub
Citibank Singapore will be hiring 330 relationship managers over the next five years for its newly
opened wealth hub here.
The hub was officially opened at 268 Orchard Road and is the bank's largest wealth advisory hub
globally. Citibank has moved 300 relationship managers, advisers, specialists and staff from other
branches to the wealth hub.
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Dec 18, 2020 / Issue 51
"With a rapidly growing affluent client base in Singapore, the bank's strategy is to further enhance
its ecosystem of digital tools and wealth hubs, deliver more innovative mobile solutions and
expand its talent pool," Citi said in a media statement.
The bank also aims to double its assets under management here and triple the number of its affluent
clients by 2025.
Link to the story:
https://www.straitstimes.com/business/banking/citi-hiring-330-relationship-managers-for-new-wealth-hub
Singapore rated 14th most expensive city for expats globally
Singapore is the 14th most expensive city in the world for expatriates, moving down two spots
from last year's ranking because of the weakening Singapore dollar.
The Republic has been overtaken by Copenhagen in Denmark and Bern in Switzerland, according
to a survey released by a human resource consultancy.
Hong Kong remains the most expensive location for expatriates to live in despite falling rental due
to the ongoing political uncertainty, followed by Tokyo and New York.
In Asia, Singapore retains its No. 6 position from last year.
Link to the story:
https://www.straitstimes.com/business/singapore-rated-14th-most-expensive-city-for-expats-globally
Slight uptick in business confidence for another quarter: SCCB
Business confidence among Singapore firms saw a slight uptick in the first quarter of 2021 but
remained in the contractionary zone, according to the business optimism index study released by
the Singapore Commercial Credit Bureau (SCCB).
The index improved slightly for the second consecutive quarter to -1.03 percentage points in Q1
2021 from -4.97 percentage points in the fourth quarter of 2020. Year on year, the index dropped
from +5.31 percentage points.
SCCB's quarterly index measures business confidence in the economy by tracking six parameters,
including the volume of sales, net profits, selling prices, new orders, inventory levels, and
employee count.
Links to the story:
https://www.businesstimes.com.sg/government-economy/slight-uptick-in-business-confidence-for-another-quarter-
sccb
https://www.straitstimes.com/business/business-sentiment-for-next-quarter-picks-up-says-survey
Zoom to set up R&D centre in S'pore, hire hundreds
Zoom Video Communications, the company behind the now-ubiquitous videoconferencing
platform Zoom, is expanding its footprint in Singapore by opening a new research and
development (R&D) centre and doubling the size of its data centre here.
The US tech giant, which has been in Singapore for two years, will also hire hundreds of staff for
the R&D centre in key engineering roles, it said in a statement.
Huttons Asia Pte Ltd | L3008899K | ROC No. 200210087C | GST Reg No. 20-0210087-C
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www.huttonsgroup.comWeekly News Select
Dec 18, 2020 / Issue 51
A Zoom spokesman told The Straits Times that the firm aims to open the R&D centre by the third
quarter of next year "or when it's safe for all our employees to go back into the office".
Link to the story:
https://www.straitstimes.com/business/companies-markets/zoom-to-set-up-rd-centre-in-spore-hire-hundreds
91,300 job openings available, most are for long-term PMET roles
Singapore's job market has largely stabilised, with unemployment slowing since August amid job
support measures and the gradual recovery from the virus fallout.
Some 47,400 Singaporean job seekers were placed in jobs from April to October under the
SGUnited Jobs and Skills Package, exceeding the target of 40,000, data from the Ministry of
Manpower's (MOM) latest jobs situation report showed.
The placements were a mix of PMET (professional, manager, executive and technician) and non-
PMET roles, with six in 10 in long-term positions.
Around 11,000 placements were also secured for company-hosted traineeships and attachments as
well as training opportunities.
Links to the story:
https://www.businesstimes.com.sg/government-economy/91300-job-openings-available-most-are-for-long-term-
pmet-roles
https://www.straitstimes.com/singapore/jobs/job-market-picks-up-but-spore-not-out-of-woods-yet
https://www.straitstimes.com/singapore/jobs/over-3000-jobs-on-offer-in-financial-service-sector
https://www.straitstimes.com/singapore/jobs/majority-of-sgunited-job-placements-in-healthcare
https://www.straitstimes.com/singapore/jobs/job-vacancies-in-september-rose-for-first-time-this-year
Key exports for November down 4.9% in second monthly drop
Singapore’s key exports shrank by 4.9 per cent in November, the second straight month of decline.
But even as manufacturing eases its pace of growth, analysts said the powerhouse factory sector
will likely remain in the black in the year ahead.
On a seasonally-adjusted, monthly basis, non-oil domestic exports (NODX) still rose by 3.8 per
cent to S$13.6 billion - reversing a slip of 5.4 per cent in the month before.
Links to the story:
https://www.businesstimes.com.sg/government-economy/key-exports-for-november-down-49-in-second-monthly-
drop
https://www.straitstimes.com/business/economy/surprise-49-fall-in-spores-non-oil-exports-in-nov
Hospitality
Singapore to welcome Taiwan visitors; travel to Taiwan allowed from Dec 18
Singapore will unilaterally lift its border restrictions for visitors from Taiwan from Dec 18
onwards, the Civil Aviation Authority of Singapore (CAAS) announced.
Additionally, travel to Taiwan will also be allowed, though this is subject to the necessary
precautionary measures and the entry requirements imposed by Taiwan, the authority said.
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With immediate effect, visitors travelling from Taiwan can apply for an Air Travel Pass (ATP) for
entry into Singapore on, or after Dec 18. Applicants must have remained in Taiwan in the last 14
consecutive days prior to their entry.
They will undergo a Covid-19 Polymerase Chain Reaction test upon arrival at the airport. If the
result is negative, they will be allowed to go about their activities in Singapore, without a need to
serve a Stay-Home Notice, CAAS said. The same applies to Singapore citizens, permanent
residents and long-term pass holders returning from Taiwan.
Links to the story:
https://www.businesstimes.com.sg/government-economy/singapore-to-welcome-taiwan-visitors-travel-to-taiwan-
allowed-from-dec-18-0
https://www.straitstimes.com/singapore/transport/spore-opens-doors-to-visitors-from-taiwan-in-unilateral-move
New hotels opening doors in S'pore despite pandemic
Widespread travel restrictions and thinning visitor arrivals have battered the hospitality industry
but new hotels continue to open, including three this month. They include Dusit Thani Laguna
Singapore, the Mint Hotel as part of One Farrer Hotel, and the Parkroyal Collection Marina Bay
under the Pan Pacific Hotels Group.
Optimism in the industry about a rebound next year remains robust despite this year's dismal
showing.
More than 8,600 new hotel rooms remain in the pipeline as at the third quarter of this year,
according to the Urban Redevelopment Authority, compared with 8,200 or so at the end of last
year.
Key openings over the next two years include the 324-room The Clan by Far East Hospitality, the
169-room Citadines Connect City Centre and the 135-room Citadines Connect Rochester
Singapore.
Links to the story:
https://www.straitstimes.com/business/companies-markets/new-hotels-opening-doors-in-spore-despite-pandemic
https://www.straitstimes.com/business/companies-markets/new-hotels-spare-no-effort-to-ensure-peace-of-mind-for-
guests
Aviation, travel take-off rests on global borders reopening
The recovery trajectory for Singapore's aviation and travel sectors will remain long and potentially
bumpy in the short term, even as vaccines would soon be made available here. Ultimately,
international travel depends on the ability of other countries to control the novel coronavirus
pandemic and re-opening of their borders, observers said.
Hence, Changi Airport's recovery as an air hub depends on a coordinated global effort.
Links to the story:
https://www.businesstimes.com.sg/transport/aviation-travel-take-off-rests-on-global-borders-reopening
https://www.straitstimes.com/singapore/spore-to-let-in-more-travellers-in-bid-to-retain-air-hub-status
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Some hotels cancel year-end staycations to take in SHN guests
Even as hotels in Singapore see a robust demand for staycations with borders largely remaining
shut, some hoteliers have had to give up leisure bookings to make way for guests required to serve
their stay-home notice (SHN).
The Business Times (BT) understands that Naumi Hotel Singapore and Amara Singapore had
recently notified guests that their bookings were cancelled as their premises will be used as SHN
facilities. The names of hotels contracted with the government have not been made public.
Links to the story:
https://www.businesstimes.com.sg/government-economy/some-hotels-cancel-year-end-staycations-to-take-in-shn-
guests
https://www.businesstimes.com.sg/real-estate/number-of-hotels-used-as-shn-facilities-depends-on-supply-and-
demand-stb
New quarantine-free bubble may pave way for bigger events in Singapore
The Ministry for Trade and Industry (MTI) unveiled a new travel initiative known as
Connect@Singapore.
This targets business, official and high economic value travellers from all countries for a stay of
up to 14 days - without quarantine, said MTI Minister Chan Chun Sing.
These travellers will be housed in a "bubble" within dedicated facilities and undergo regular testing
throughout their stay. They will also be allowed to meet local visitors at the facility - though
separated by transparent, air-tight dividers, and with other safety measures in place. They will not
be permitted to venture beyond the facility. Apart from meeting counterparts here, approved
visitors can also arrange to meet others from beyond Singapore.
Applications will open in mid-January, with the first batch of such travellers expected to arrive in
the second half of next month.
Links to the story:
https://www.businesstimes.com.sg/government-economy/new-quarantine-free-bubble-may-pave-way-for-bigger-
events-in-singapore
https://www.straitstimes.com/singapore/spore-to-pilot-quarantine-free-business-travel
https://www.straitstimes.com/singapore/segregated-business-travel-lane-key-to-raising-confidence-say-observers
https://www.businesstimes.com.sg/transport/singapores-segregated-travel-lane-will-help-private-jet-operators-take-
off
Singapore's hawker culture added to Unesco list of intangible cultural heritage
Hawker culture in Singapore has been officially added to the Unesco Representative List of the
Intangible Cultural Heritage of Humanity.
In virtual proceedings that took place on Dec 16, a 24-member committee unanimously accepted
Singapore's application.
The successful nomination means Singapore now has its first item on the intangible cultural
heritage list, which currently has 463 entries including Yoga in India and Belgian beer.
It is also the country's second entry to any Unesco list. The first came in 2016 when the Singapore
Botanic Gardens was designated as a Unesco World Heritage Site.
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Links to the story:
https://www.businesstimes.com.sg/life-culture/singapores-hawker-culture-added-to-unesco-list-of-intangible-
cultural-heritage-0
https://www.straitstimes.com/singapore/singapores-hawker-culture-finds-place-on-unesco-heritage-list
Industrial
Pharmaceutical firms to manufacture vaccine in Singapore
Singapore has made arrangements with various pharmaceutical companies to facilitate their
clinical trials and drug development in Singapore, with the government having attracted a few
players to establish vaccine manufacturing capabilities here.
Prime Minister Lee Hsien Loong said this in a televised address as he gave an update on
Singapore's Covid-19 vaccination plans.
Link to the story:
https://www.businesstimes.com.sg/government-economy/pharmaceutical-firms-to-manufacture-vaccine-in-
singapore
Contact:
Lee Sze Teck
Head, Research
(65) 6500 6510
szetecklee@huttonsgroup.com
This document has been prepared by Huttons Asia for general information only. Huttons Asia does not guarantee warrant or represent that the
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