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City Developments to commit $17m in rebates
City Developments to commit $17m in rebates
Tenants to get full rental rebates in April, 50% in May. City Developments Limited (CDL) is committing more than $17m in property tax and rental rebates, an announcement revealed. The move is to help its tenants tide over the COVID-19 outbreak. The amount includes the full quantum of the government's enhanced property tax rebates which will be passed on to CDL's tenants. These enhanced rebates comprise 100% property tax rebate for qualifying commercial properties and 30% for businesses in other non-residential properties. CDL also disbursed rental rebates to qualifying retail tenants in March and will continue to provide rental rebates of 100% in April and 50% in May.Further support packages may be rolled out steadily. All non-essential businesses within CDL buildings will be closed from 7 April to 4 May in line with the Singapore government's stricter "circuit breaker" safe-distancing measures. Meanwhile, some CDL buildings will remain open from 7 April to 4 May to facilitate the continued operations of businesses or stores offering essential services.
Suntec City waives rents for all tenants in April
It will also provide rental rebates in May.
ComfortDelGro's management to take pay cuts
Directors of the group’s listed companies to have 20% cut on fees.ComfortDelGro Group's board and senior management will take a voluntary cut in directors' fees and pay respectively amidst the COVID-19 outbreak.Directors of the group’s listed companies—ComfortDelGro, SBS Transit and Vicom’s—will have their directors' fees cut by 20% until the end of the year.Also read. https://sbr.com.sg/transport-logistics/news/comfortdelgro-waives-taxi-rents-monthManaging director and group chief executive Yang Ban Seng will take a 15% cut, whilst those ranked vice-president and above will have their salary slash by 10%.The cuts will be effective from April 2020 and will be reviewed at the end of June.
DBS to start closing branches until 4 May
Its Treasures and Treasures Private Client centres will also shut down.
CapitaLand unit reopens Wuhan malls
Its portfolio’s footfall has rebounded from the previous month’s low.
Will co-living survive in Singapore's fast-changing rental market?
Despite the hype on 'flexible living', landlords still prefer the traditional model.
Chart of the Day: New homes grew pricier vs. resales in the CCR
The collective sales fever caused an elevation in land costs.
Daily Markets Briefing: STI up 3.4%
OCBC Bank led the gains amongst top active stocks with a 3.94% jump.
Daily Briefing: GIC, Dexus to acquire 50% of Rialto Towers for $387.5m; Kopar At Newton sold 77 units ahead ‘circuit breaker' measures
And about 3,300 devices have been loaned out to students for home-based learning.
Changi Airport Terminal 2 suspends operations for 18 months
Airlines will be relocated to the remaining terminals.
Insurance services to remain open
The government has raised distancing measures against COVID-19.
MAS names new assistant managing director
Celine Sia will hold the position for economics and knowledge management.
ComfortDelGro waives taxi rents for a month
Total relief package for drivers could amount to $99m.
Port of Singapore remains open amidst stricter measures
Essential maritime activities are exempted from the suspension.
Maybank Singapore temporarily shutters 8 branches
ATMs and cheque-deposit facilities will remain open.
Singapore has enough telco capacity: IMDA
Demand surges as people begin working from home amidst the lockdown. Singapore has sufficient telecommunications capacity to cope with the increase in demand, according to the Infocomm Media Development Authority (IMDA). Nine in 10 Singapore households have fibre networks in their homes, and IMDA assured that the city-state’s fixed and mobile networks will have the bandwidth to cope with the demand, as network traffic has seen quite a surge since the start of the COVID-19 crisis The surge in demand for home fibre broadband or mobile network services comes as most people start to work from home. Schools and higher learning institutes have shifted to home-based learning, whilst preschools and student-care centres remain closed.
Genting Singapore's RWS suspends non-essential services till 4 May
This followed directives for most businesses to cease operations.
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