(Feb 3): Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters.
The move adds to headwinds for developers and REITs, amid questions over what the future holds for offices worldwide even after the pandemic. It will be harder to lease out vacancies and there will be pressure to lower rents if the work-from-home arrangement persists, said Terence Chua, an analyst at Phillip Securities Research Pte.
The Straits Times
New programme launched to help manufacturers grow footprint in region, diversify supply chain
Trade and Industry Minister Chan Chun Sing (third from left) at the launch of the SEA Manufacturing Alliance at Bridge+ on Feb 3, 2021.ST PHOTO: GAVIN FOO
PublishedFeb 3, 2021, 12:03 pm SGT
https://str.sg/Jrig
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ASIA:
China’s growth is likely to moderate in the coming months as the country faces risks on two fronts, according to the chief Asia economist of Goldman Sachs. Goldman Sachs economist Andrew Tilton said the policy makers are quite comfortable with the recovery so far and are starting to pull back on policy stimulus to some degree. The world’s second-largest economy showed robust GDP growth in the fourth quarter of 2020, expanding at 6.5% compared to a year ago. It beat market expectations and made China one of the few major economies in the world to record positive growth for a year mired by the coronavirus pandemic.
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Market talk: The world’s second-largest economy showed robust GDP growth in the fourth quarter of 2020ANALYSIS |
2/3/2021 5:48:52 AM GMT
ASIA
China’s growth is likely to moderate in the coming months as the country faces risks on two fronts, according to the chief Asia economist of Goldman Sachs. Goldman Sachs economist Andrew Tilton said the policy makers are quite comfortable with the recovery so far and are starting to pull back on policy stimulus to some degree. The world’s second-largest economy showed robust GDP growth in the fourth quarter of 2020, expanding at 6.5% compared to a year ago. It beat market expectations and made China one of the few major economies in the world to record positive growth for a year mired by the coronavirus pandemic.
SINGAPORE wants to attract companies at the frontier of manufacturing, to secure the Republic's spot in global value chains, said Trade and Industry Minister Chan Chun Sing on Monday. Read more at The Business Times.