Allgreen and Australand to delist from SGX
Allgreen Properties, which is controlled by Malaysian billionaire Robert Kuok, will be delisted today, after a unit owned by members of the Kuok Group offered S$1.60 for each share in Allgreen in May 2011.This offer values the company, which is one of Singapore’s largest property groups, at...
Continue Reading • 25 Aug 2011
Saizen Reit posts distributable income of S$6.1m in FY2011
Saizen Real Estate Investment Trust (Reit), the first real estate investment trust (Reit) in Singapore with purely Japanese regional residential properties, has posted a distributable income of S$6.1 million as of 30 June 2011, a rise from S$2.7 million as of the same period last year.The group...
Continue Reading • 24 Aug 2011
UK mortgage lending remains flat
Gross mortgage lending in the UK remained flat at £7.6 billion in July, as the economy remained weak, according to the British Bankers' Association (BBA).This was eight percent lower compared to the total mortgage lending a year ago and an 11 percent decline between May and June, said...
Continue Reading • 24 Aug 2011
NS men should receive better housing grant, says Kin Lian
Tan Kin Lian, one of the four presidential candidates, has again expressed his views on the need to acknowledge the contributions of National Service (NS) men.He proposed separate housing grant programmes for male Singaporean citizens and new citizens.After completing NS, Tan noted that it is...
Continue Reading • 24 Aug 2011
Lippo ceases derivative transactions involving OUE
Overseas Union Enterprise’s (OUE) controlling shareholder, Lippo Group, has stopped a derivative transaction cited as the probable cause of market confusion and a further overhang on OUE’s share price.Lippo, which retains shares of OUE via Golden Concord Asia Limited (GCAL), began a...
Continue Reading • 24 Aug 2011
S'pore housing costs up 9.5% in July
The consumer price index (CPI) grew to a seasonally adjusted 0.6 percent in July, an increase from 0.4 percent in June, according to the Department of Statistics.It added that housing costs, including utilities tariffs and imputed rentals, grew 9.5 percent in July, an increase from 8.8 percent in...
Continue Reading • 24 Aug 2011
Tony Tan urges investigation into WP-PA dispute
Singapore presidential candidate Dr Tony Tan has urged the Housing and Development Board (HDB) to investigate the dispute over the transfer of public sites in Aljunied GRC, which is held by the Workers' Party (WP).The opposition party’s complaint claimed that HDB transferred 26 public sites...
Continue Reading • 24 Aug 2011
Challenges ahead for S-Reits
Numerous Singapore real estate investment trusts (S-Reits) have pursued greenfield developments this year, with Aims AMP Capital Industrial Reit, CapitaMall Trust, CapitaCommercial Trust, Ascendas Reit and K-Reit Asia all announcing their new developments, according to a report by Moody's.It said...
Continue Reading • 23 Aug 2011
NParks launches drive to help green the city
The National Parks Board (NParks) has announced that the areas underneath expressway viaducts and MRT tracks may be transformed into recreational spaces in the future.Citing the MRT idea as an example, NParks is encouraging the public to provide suggestions and ideas on how to improve green...
Continue Reading • 23 Aug 2011
Aussie landlords applying for home loans for properties in other states
Landlords in Australia are opting for home loans to increase their ability to acquire properties in other states, as indicated by the latest figures from Terri Scheer Insurance.According to the data, one-fifth of its customers have rental properties outside of their home state. “This...
Continue Reading • 23 Aug 2011
S'pore must remain steadfast amid global challenges, says PM Lee
Prime Minister Lee Hsien Loong has urged Singaporeans to monitor world developments so they can respond quickly when problems arise.He sighted the current crisis in Europe, America and Japan and warned that the country could be affected directly by these global issues.“We've got to watch...
Continue Reading • 22 Aug 2011
Keppel Land China acquires prime residential site in Wuxi
Keppel Land China Limited, through its wholly-owned subsidiary Merryfield Investment Private Ltd, has acquired a 21.5 ha lakefront residential site in Wuxi, China for approximately RMB1.937 billion (S$368 million).Keppel Land China said the site will be used for the development of 2,500 units,...
Continue Reading • 22 Aug 2011
HK mortgage plan attracts support from senior citizens
Senior citizens in Hong Kong are eager to take advantage of the new reverse mortgage programme that provides them with a monthly income while they reside in their homes.The Hong Kong Mortgage Corp (HKMC) has granted more than 30 applications since the programme’s debut on 11 July and has...
Continue Reading • 22 Aug 2011
BCA launches incentive schemes for builders and designers
The Building and Construction Authority (BCA) has launched the improved Buildability Framework, which integrates the latest constructability appraisal system to offer impetus for builders and designers to enhance their designs and adopt labour-saving construction methods.“The Ministry of...
Continue Reading • 22 Aug 2011
Geylang Serai redevelopment plan unveiled
The Ministry of National Development (MND) yesterday revealed its detailed plans for the redevelopment of Geylang Serai.Under the Master Plan 2008, Paya Lebar Central, where Geylang Serai is located, will be developed into a dynamic regional hub with a unique cultural identity. It will be a...
Continue Reading • 19 Aug 2011
US mortgage rates drop to new lows
US mortgage rates slipped to the lowest level in Freddie Mac's weekly survey, with 30-year fixed-rate loans being offered at an average of 4.15 percent while 15-year fixed-rate loans dropped to 3.36 percent.The survey also includes mortgages made with minimal payment of fees and points to...
Continue Reading • 19 Aug 2011
BCA to host 2nd conference on green practices next month
The Building and Construction Authority of Singapore (BCA) will hold the second International Green Building Conference (IGBC) at the Suntec City Convention Centre from 13 to16 September 2011.Over 1,000 participants are expected to attend, including industry professionals and developers, as well...
Continue Reading • 19 Aug 2011
MAS says Singapore's domestic money markets in working order
In an effort to address the recent market activities in the SGD Swap Offer Rate (SOR), a spokesperson from the Monetary Authority of Singapore (MAS) reaffirmed that interest rates in the country are market-influenced and declared the existing monetary policy position, announced in April,...
Continue Reading • 19 Aug 2011
Globally competitive local firms needed in Singapore
With rising inflation in Asia and sluggish global economic growth, it is vital for Singapore to have locally based, global competitive companies, said Teo Eng Cheong, Chief Executive of International Enterprise (IE) Singapore, in a report by The Business Times.“In the midst of all these...
Continue Reading • 19 Aug 2011
Jacqui Cuthbertson appointed as GM of Pan Pacific Serviced Suites Bangkok
Pan Pacific Hospitality Pte Ltd, a wholly-owned subsidiary of UOL Group, has appointed Jacqui Cuthbertson as General Manager of Pan Pacific Serviced Suites Bangkok.Cuthbertson’s new role will have her overseeing operations at the 148-suite property, which is situated in the Petchaburi Road...
Continue Reading • 18 Aug 2011