Wall Street programme traders lead market direction
Over the last six to seven weeks, a recommendation, “buy the dips but sell into strength” has been the principal theme of the Singapore Market. With the Straits Times Index (STI) having dropped sharply on several occasions, like the bouncing measures of the government every time they...
Continue Reading • 28 Sept 2009
Primespace introduces innovative condo sales scheme
A new, innovative means of selling condo units in Singapore has emerged amidst the property market’s recent revitalization. Registered in June 2009, Primespace Investments Private Limited is selling apartment “shares” to investors who have at least $62,000.Primespace has...
Continue Reading • 28 Sept 2009
Wall Street losses put pressure on local market
The overnight skid at Wall Street put additional pressure to the local stock market yesterday, but prospects of a potential US recuperation on Thursday somehow helped cut losses.Hong Kong-based Hang Seng Index fell by nearly 3 percent on the get-go, but managed to recover and finish only 2.5...
Continue Reading • 25 Sept 2009
Rise in Singapore Hedge funds
According to Eurekahedge Pte, the asset of the Singapore Hedge funds increased in August by US$21 billion.The research firm based in Singapore said in a report that the profit of the industry through performance reached US$8.8 billion, while the net inflows totalled to US$12.6 billion, which...
Continue Reading • 25 Sept 2009
Law Society to scrap conveyancing fee guidelines
When fee guidelines were introduced in 2003, they pointed to legal payments of up to approximately 30 percent less for the transfer of title in property transactions. Some attorneys then began undercutting each other as they looked for business.However, lawyers will soon no longer be compelled by...
Continue Reading • 23 Sept 2009
GIC shares to yield other investments
The effort of the Government of Singapore Investment Corp (GIC) to market part of its share in Citigroup can ease up funds for other higher generating investments.According to market-watchers, this can include the energy sectors that are rapidly growing in emerging markets like Russia and...
Continue Reading • 23 Sept 2009
CDL acquires El Ad's half-share in Futura
City Developments Limited (CDL) has purchased its partner's half-share in their equal joint venture firm that owns the Futura condominium site located at Singapore’s Leonie Hill.Together with El Ad Group, CDL bought the residential freehold property at $287.3 million or $1,179 per square...
Continue Reading • 23 Sept 2009
Upsurge in real-estate related complaints
The upbeat real property market in the country has led to an upsurge of real estate-related problems and complaints from home hunters.According to the Consumers Association of Singapore (Case), the various complaints it had received began to pour in from the month of May.The association has...
Continue Reading • 22 Sept 2009
IFAs defend exit offers
According to industry players, what is just for some people is not to others; investors must have to accept such a market reality.According to Independent Financial Advisers (IFAs) and bankers, while the present takeover and privatisation deals appear unpleasant, the claims that they are...
Continue Reading • 22 Sept 2009
Investors must stay long, but must remain nimble
There is no doubt that chart watchers will be busy enhancing their analyses, this week, of the Straits Times Index. Among the key questions is whether the dips buying will still continue. If so, can they be eventually strong enough to assure that the 2,700 mark index is convincingly reclaimed.In...
Continue Reading • 22 Sept 2009
STI gets welcome lift from UK, HK
Hong Kong’s return on line Wednesday after a typhoon forced an unwanted break on Tuesday helped revitalise buying interest. With the 2.6 percent increase in the Hang Seng at closing, coupled with a welcome boost from Europe - most likely in the hopes that Wall Street will bounce back - the...
Continue Reading • 18 Sept 2009
Stocks under pressure in restrained trading
Due to a typhoon warning, Hong Kong market closed during the morning session. The closure indicated that the local stocks had suffered yesterday from an absence of proper direction and some loss of liquidity. Following the government’s anti-speculation moves last Monday, the property stocks...
Continue Reading • 16 Sept 2009
AFM announces A-REIT board lineup changes
The managing firm of Ascendas Real Estate Investment Trust (A-REIT), Ascendas Funds Management Limited (AFM), announced yesterday that directors Swee Kee Siong and Benedict Kwek Gim Song have retired. AFM also announced that Monica Villegas Tomlin, Koh Soo Keong and Henry Tan Song Kok have been...
Continue Reading • 16 Sept 2009
Low cost, comprehensive, rent protection insurance introduced in Singapore
At 15 percent of first month’s rental, landholders are protected for the entire tenancy period, up to 24 months. Landlord-tenant dispute claims have increased at an accelerating pace since 2006, according to statistics released by the Small Claims Tribunal of the Subordinate Courts....
Continue Reading • 16 Sept 2009
Singapore Government enforces cooling measures
Yesterday, the government of Singapore announced cooling measures to prevent any speculative bubble from forming and temper the exuberance in the market after the two recent warnings about the rising intensity in the private housing sector.From the first half of next year, the Confirmed List land...
Continue Reading • 15 Sept 2009
Tighter housing loan rules will help sincere buyers
The new measures announced by the Government to tighten housing loan rules are expected to prevent excessive speculation in this somewhat heated market. “Overall, this is a timely measure on the Government’s part,” shares PropNex CEO Mohamed Ismail, referring to the announcement...
Continue Reading • 14 Sept 2009
Singapore’s property market index and mutant camels
Has anybody seen a mutant camel with three humps? Well, the Private Property Market Index of Singapore looks a bit like that as it registered a 45 percent bust from Q2 of 1996, a 40 percent boom from Q4 of 1998, a 20 percent bust from Q2 of 2000, and a 58 percent rise from Q1 of 2004, with the...
Continue Reading • 14 Sept 2009
Parliament to scrutinise growing property prices
Singapore’s red-hot property market will be put under scrutiny when the Parliament sits in on Monday.Two members of the Parliament, Ms. Jessica Tan of the East Coast GRC and Madam Ho Geok Choo of the West Coast GRC, have presented questions regarding the impact of the rising prices of...
Continue Reading • 14 Sept 2009
Singapore dollar declines in value
More American goods may be able to be purchased in just one Singapore dollar, but it has lesser value compared to other major currencies in other countries. Recently, the New Zealand and Australian currencies hit the highest levels against the Singapore dollar for over a year. Ever since...
Continue Reading • 11 Sept 2009
Fragrance Homes buys land in Sembawang
Fragrance Group continues to stock up its assets by buying land yet again.Fragrance said yesterday that its subsidiary, Fragrance Homes, has purchased a site worth $7.5 million. The plot is located in the Sembawang area, particularly at Kerong Lane.The plot has a total area of 31,464 square feet...
Continue Reading • 11 Sept 2009