$180m makeover for arts facilities
The Victoria Theater and Concert Hall will undergo $180 million worth of renovation as part of the cultural development program of the Singaporean government. The cost is estimated to be 30% that of Esplanade. Moreover, the government sets aside $115 million for similar projects aimed at making...
Continue Reading • 20 Oct 2009
Singaporean Economy Strengthened by Recessions
The 1998 financial crisis, the Internet bubble and the 2008 mortgage crisis helped the Singaporean economy to become more agile and less vulnerable to economic downturns. The Asian economy was not yet recovering from the 1998 crisis when the dotcom bubble hit in 2000. SARS outbreak in 2003...
Continue Reading • 20 Oct 2009
El-Ad divesting South Beach and Futura
According to El-Ad Properties, owned by an Israeli billionaire Yitzhak Tshuva, they are in search for interested buyers for their South Beach project’s one-third venture, and also for their fifty percent share at Leonie Hill Road, the Futura apartment. El-Ad’s complete investment in...
Continue Reading • 20 Oct 2009
Another top executive leaves Capitaland
Capitaland has again lost a top executive – Chief Corporate Officer Tham Kui Seng, a treasured deputy of the president and CEO Liew Mun Leong.Capitaland said Mr Tham’s reason for leaving is “to pursue personal interest”. Mr Tham is known to have been planning his...
Continue Reading • 20 Oct 2009
Regulatory system for home buyers
The global financial crisis has created consequential effects on Singaporean property-buyers. Economic crunch has put those who bought properties last year on a risky situation.People might lose lots of money trying to sell their properties in this declining market. Those who are stuck with...
Continue Reading • 20 Oct 2009
MAS learns the art of mortgage lending
In response to BT queries, the Monetary Authority of Singapore (MAS) has recently announced that it won’t play a part in the repossession of a home if the mortgage is default.As of today, mortgage arrears in the US and UK are incredibly high, putting millions of people into risks of being...
Continue Reading • 20 Oct 2009
Hotel Industry amidst the Global Recession
In spite of the economic downturn in Singapore’s hotel industry, about ten hotels plans to offer some 5,100 rooms, which are expected to launch next year. The hotels, which are conceived in the midst of the prosperous period, are facing difficulties in filling up their rooms. But, owners...
Continue Reading • 20 Oct 2009
Tuan Sing Holdings to sell Park Hyatt Hotel
The Grand Hotel Group (GHG) in Canberra, Australia, which is 50%-owned by Tuan Sing Holdings, is selling for S$79.5 million (A$80 million) - a near 14% premium to its book value.Tuan Sing announced yesterday that GHG, together with two other GHG subsidiaries, obtained a put-and-call selection...
Continue Reading • 20 Oct 2009
Not Yet Time To Be Positive
Last week, several reports generated by analysts are proven to be relevant interest to stockmarket investors.The first was by Morgan Stanley, which was released on 18 December 2008. It was about Singapore property sector entitled “Too Early To Turn Positive”. Coincidentally that same...
Continue Reading • 20 Oct 2009
CapitaLand bonus needs revaluation
Last week, CapitaLand revealed that it awarded Mr. Liew Mun Leong with a bonus worth $20.52 million for the year 2007 and a reasonably simplest bonus worth $2.98 million for the year 2008.The award of CEO Liew Mun Leong for 2007 was a prize for the record profit of the group that reached $2.76...
Continue Reading • 20 Oct 2009
Singaporeans worry about mortgage payments
Singaporeans are concerned regarding their ability to pay mortgages while expatriates are troubling over lesser incomes, according to the survey of Zurich International Life (ZIL).Andy Robinson, regional director of ZIL Asia said, “I wonder about the result if the survey is done now”....
Continue Reading • 20 Oct 2009
Real property agencies under government review
A report last Wednesday took up topics regarding "Regulation of property agents under review”. The SAEA or Singapore Accredited Estate Agencies is completely positive of the Government's step towards an effective approach of shaping real property agents.The industry of housing agents...
Continue Reading • 20 Oct 2009
Cruise terminal delayed due to complexity
The International Cruise Terminal project’s development schedule was delayed because of the project complexity, the Singapore Tourism Board (STB) said.Chew Tiong Heng, cruise director of STB, said that “Due to the complexity of the project involving a combination of reclamation and...
Continue Reading • 20 Oct 2009
Keppel Land projects pass Green Mark certification
Over $4 million of annual energy bill is expected to be saved by KEPPEL Land in the completion of six projects certified by Green Mark.Keppel Corporation’s property arm also targets the rating of Green Mark Gold from the Building and Construction Authority or BCA for all of its...
Continue Reading • 20 Oct 2009
Nearly 2,600 workers were poorly housed
There were almost 2,600 workers discovered staying in 16 unauthorised dormitories during the combined swoops executed by various agencies of the government.The checks, as part of a progressing effort, were carried out in Tuas, Woodlands, and the Tagore area for two days this month by officials of...
Continue Reading • 20 Oct 2009
Far East prepares to accept more tourists
Far East Organization has uncovered a new Boutique hotel Quincy and said it will launch hospitable sub-brands to welcome more tourists to Singapore for the following years.The sub-brands, which they called Village, will be launched in this year’s third quarter. It will put together 8-9 Far...
Continue Reading • 20 Oct 2009
Soon, economy could reach a low point
Yesterday at the Singapore Business Awards (SBA), Tharman Shanmugaratnam, the Finance Minister, said that the economy of Singapore could reach a low point within the next six months.He told business leaders at the Shangri-La Hotel “On current indications, we expect to see a bottom in the...
Continue Reading • 20 Oct 2009
Pack them in, build them up
When a person is feeling uneasy about Singapore being geared up for an expected 6.5 million total population, Professor Edward Glaeser says there is no need to worry regarding it.He declares, ”Density is underrated and undervalued and the pleasures of density are in fact quite...
Continue Reading • 20 Oct 2009
A hard hitter’s soft comment
Ascendas is considered to be one of the growing companies with assets rising eight-fold to $9 billion today from $1.2 billion in 2001. Yet, it’s Chief Executive Officer and president, Ms. Chong Siak Ching, has managed to keep out from the spotlight.Ms. Chong said, “I don't think any...
Continue Reading • 20 Oct 2009
More positive aspect viewed for Singapore stocks
The stock market in Singapore was back on the upside on Monday after one session, as it halted the modest 2-day winning streak where it had earned 1.6 percent or over 40 points all the way through. The Straits Times Index (STI) finished just above the plateau of 2,710 points, and now several...
Continue Reading • 20 Oct 2009