Listed builders benefit from government projects
According to some analysts, a number of contractors that are registered on the Singapore Exchange are likely to gain advantage from a plan proposed by the government to boost the construction of minor public sector projects. Late last week, analysts issued fresh “neutral” or...
Continue Reading • 22 Oct 2009
CapitaLand’s green initiative saves $1.5m
Yesterday, CapitaLand said it saved nearly $1.5 million because of green initiatives it made last year. These green initiatives were brought in as a part of the firm's ISO certification for environmental management, which it successfully acquired for its operations in Singapore in 2007.In the...
Continue Reading • 21 Oct 2009
Stanchart Provides Loan Approval in 15 Minutes
Standard Chartered Bank introduced an innovation at property showflats yesterday. A new service initiative will allow potential homebuyers to obtain advice on housing loan tenor and quantum in 15 minutes. In addition, in-principle approval will immediately be granted to interested...
Continue Reading • 21 Oct 2009
K2LD Architects Receive Fiabci Award
K2LD Architects, an architectural firm based in Singapore, bagged a Fiabci Award for its newest project in hotel innovation, the G Hotel in Malaysia.According to K2LD, the G Hotel received a Malaysia Property Award in the hotel category of the world-renown Fiabci Awards 2008.The France-based...
Continue Reading • 21 Oct 2009
Citigroup All the Way Down
Some fifty-two thousand job cuts, an all-time-low in the bank’s 13-year streak of being US’ number two bank, and a whole lot of losses – Citigroup goes down in an earlier round and it seems that they just can’t get enough.They actually plunged deep down already in 1987...
Continue Reading • 21 Oct 2009
KepLand Launches RYA-Accredited Training Facility
Keppel Land launches the Keppel Bay Sailing Academy (KBSA), the first and only sailing training facility accredited by the Royal Yachting Association (RYA), at Marina, Keppel BayAccording to Keppel Land, the extension to the Marina is a natural occurrence as the company undergoes expansion. CEO...
Continue Reading • 21 Oct 2009
Frontech Centre’s sale did not push through
Ho Bee’s Group initial proposal of the sale of its $30 million worth Frontech Centre has not pursued.Frontech Centre is a high-tech industrial building with eight floors and a gross floor area of 71, 992 square feet and a lettable area of about 69,382 square feet. The company announced that...
Continue Reading • 21 Oct 2009
WBL leaner gains full swing
A full-year net profit of $66.8 million has put a Leaner WBL Corporation into full swing after a big $2.07 billion loss in 2007.This large amount comes from one off-net gains of $8.9 million and also from a 0.4 per cent increase in revenue to $2.07 billion.CEO Tan Choon Seng confirmed yesterday,...
Continue Reading • 21 Oct 2009
Lessons from the US Subprime Mortgage Crisis
“I and others were mistaken early on in saying that the subprime crisis would be contained,” said US Federal Reserve Chairman Ben Bernanke at the onslaught of the subprime mortgage crisis which crippled even the biggest players in the US financial industry. Way back in 2007, US...
Continue Reading • 21 Oct 2009
Office rents in Singapore decline
A survey conducted by CB Richard Ellis (CBRE) showed that annual occupancy costs in Singapore decreased to US$135.13 per square feet in November from US$139.31 in May, placing the state at the 9th spot in the list of the most expensive places to do business and 13th in the list of office markets...
Continue Reading • 21 Oct 2009
Shopping mecca to rise at Serangoon
The current economic slowdown is not holding back the construction of a mega shopping mall at Serangoon Central. Gold Ridge contracted Low Keng Huat to construct the $295 million commercial property, which is poised to become an iconic retail center in North East. Gold Ridge is a special purpose...
Continue Reading • 21 Oct 2009
Will Raffles aim high and stay high?
Singapore’s Raffles Hotels and Resorts keep on a spirited development, which may bring forth 30 hotels in 2012 on several cities including Kuala Lumpur, San Francisco and New York.“As a brand, Raffles has tremendous potential for global expansion. We're not yet represented in certain...
Continue Reading • 21 Oct 2009
Otto Marine launched $97.7 million IPO
Otto Marine has raised one of the largest IPOs this year. Despite the global financial crisis, the offshore marine group is selling 235 million shares at 51 cents each in a bid to raise $97.7 million in net proceeds.“We look long term in our IPO, and in our business, we have strong growth...
Continue Reading • 21 Oct 2009
Global crisis starts sending people home
Global recession hits hard on Singapore, sending several employees in various companies at home to never come back to work anymore.“Some are quite distressed when they come to me because they just lost their job and don't know where they are going to. It's very difficult for them as many...
Continue Reading • 21 Oct 2009
Deteriorating construction sector
Compared to last year’s growth of 20.3 percent, this year is a different story for the construction sector. Instead of growing up, the sector just keeps falling down. In the first quarter of 2008, it had an 18 percent growth rate, but in the third quarter of 2008, the sector started to...
Continue Reading • 21 Oct 2009
January Budget to reverse economic woes
Economic growth for the country may slide into negative territory. The government has announced that it will place measures to reduce and absorb the ill effects that may occur. It also plans to fast track the approval of the 2009 Budget as early as January.According to Prime Minister Lee...
Continue Reading • 21 Oct 2009
Developers Are Not Up For Greens
Green development in the property sector is likely to be delayed because of the economic slowdown. According to a building consultant, developers are not so eager because its benefits are not substantial in the short-term.But according to Peter Rawlings, a consultant from the British consultancy...
Continue Reading • 21 Oct 2009
Forecast on Singapore’s 2008 GDP
According to the Singapore’s Minister of State for Trade and Industry S. Iswaran, the country’s GDP for 2008 is now anticipated to come in lower than what is expected.The country’s economy had contracted by 5.3 percent in Q2 and 6.8 percent in Q3 due to technical recessions. On...
Continue Reading • 20 Oct 2009
JTC to expand IBP in Jurong
Despite the economic downturn, JTC is planning to develop in Jurong the International Business Park (IBP) in anticipation for uptick in demand of industrial space after the recession. The developer plans to expand the park by 20% and increase plot ratios in selected areas.“We are expecting...
Continue Reading • 20 Oct 2009
JTC and STB board appointments
The Trade and Industry Minister re-appointed Mr. Simon C Israel as the chairman of Singapore Tourism Board (STB) and Mr. Cedric Foo as the chairman of JTC Corporation (JTC). DTZ Executive Director Ong Choon Fah was also appointed and a partner at Deloitte & Touche Ernest Kan Yaw Kiong and...
Continue Reading • 20 Oct 2009