Residential site in Sengkang to be launched for public tender
The Housing Development Board (HDB) has received an application from a property developer to launch a residential site located at Sengkang West Avenue for public tender.The parcel of land is under HDB's Reserve List System.Under the Reserve List System, a site will only be put up for public...
Continue Reading • 29 Dec 2009
Analysts claim upgrades may boost stocks
JPMorgan analysts claimed yesterday that 'significant' upgrades are likely to sustain stocks to earn forecast for the following weeks, as asset values and property prices recover, encouraging firms to take minor write-downs on their assets.Christopher Gee, head of JPMorgan's Singapore research...
Continue Reading • 29 Dec 2009
NTUC Income sued by a couple over reverse mortgage transaction
A couple file a suit against NTUC Income on a reverse mortgage transaction in which their property was dealt in the middle of falling prices in the property sector.In 2006, Colleen Ng, who is in her late 50s and his husband Derek Chua, who is in his 70s, declare that they lost their matrimonial...
Continue Reading • 29 Dec 2009
NTUC have been reasonable in reverse mortgage case
NTUC Income expresses its empathy with Madam Colleen Ng and Mr. Derek Chua, but the company believes its action in assisting the two is ‘more than reasonable’.Jeffrey Lee, chief financial officer of Income, said that before the couple signed the deal, they were advised by lawyers...
Continue Reading • 29 Dec 2009
Most buyers prefer suburban condos
In Singapore, the latest signs of perky suburban property industry are starting to show up. In Ang Mo Kio area, many homebuyers have been sending cheques to purchase properties at rarely seen prices outside prime central areas of Singapore.In the upcoming 329-unit Centro Residences by Far East...
Continue Reading • 29 Dec 2009
Insurer charged for reverse mortgage
Reverse mortgages scheme existed with a great deal to aid retirees to unlock the cash value of their residences for more than a decade, but now, it will be the main focus of an impending court case.Derek Chua and his wife Colleen Ng charged a legal case against their insurer NTUC Income after...
Continue Reading • 29 Dec 2009
HSBC survey: Expats prosper more in Singapore
An HSBC survey finds out that in spite of high cost of living for expats in Singapore and the cutbacks for luxurious lifestyle due to global recession, most of them still prefer to hold back and stay put.The Expat Economics Survey of HSBC is carried out last February until April of this year. It...
Continue Reading • 29 Dec 2009
GuocoLand's Ascot Park’s Phase 1 sold
GuocoLand's Ascot Park’s Phase 1 in Nanjing, China was fully sold, as stated by the group the previous day.The first phase of the project, which comprises 594 units, consisting of 2- and 3-room units with a variety of sizes that range from 87 to 130 sq. m., is sold for an average price of...
Continue Reading • 29 Dec 2009
CapitaLand injects $333.1 million to Australand
CapitaLand will be injecting A$281.6 million (approximately $333.1 million) into its Australian unit by absorbing its full entitlement in Australand's rights issue worth A$475 million.Australand, which is based in Sydney, Australia, posted a A$268.8 million net loss for H1 2009 yesterday. It,...
Continue Reading • 29 Dec 2009
Biosensors record weak Q1 amid licensing revenue decline
Biosensors International Group posted a weak first-quarter net income of US$4.2 million, way under the US$16.5 million over the same period a year ago. This was due mainly to the absence of a lump sum licensing payment.But the group has anticipated a yearly revenue of US$90-100 million, mainly...
Continue Reading • 29 Dec 2009
Malaysia: all set to draw in foreign investment
Malaysia intends to internationalise its real estate and aims to generate RM20 billion from foreign investment for the next ten years to counteract a drop in private investment.The Malaysia Property Incorporated (MPI), a new public-private entity, was assigned to improve the foreign investment...
Continue Reading • 29 Dec 2009
Middleware market hit by financial crisis
The application deployment software (ADS) – more popularly known by its cognomen “middleware” – market of Singapore is likely to drop by 5.8 percent this year because of the economic downturn, according to analysts.According to Adren Lim, an Asia-Pacific market analyst at...
Continue Reading • 29 Dec 2009
Information hazards in Stock Market
Global stock markets have rallied significantly during the first half of the year, recovering from huge losses since last year’s financial crisis. A significant example of this is the Singapore stock market, which surged 38.7 percent on its market capitalisation to $545 billion at the end...
Continue Reading • 29 Dec 2009
Focus on CapitaLand in residential market resurgence
The residential market resurgence had been in the headlines lately, developing the interest for property counters.For various traders, a way to put huge bets on property market that is currently reviving is loading up on covered warrants that are issued on big developers.Many have their focus on...
Continue Reading • 29 Dec 2009
Flat trading for three straight weeks
Stock Market activities are very low for three straight weeks, with only three firms with four disposals versus nine companies with 14 purchases from July 20 to 24, based on the fillings on Singapore Exchange. This figure is consistent with two firms with three disposals and 12 companies with 25...
Continue Reading • 29 Dec 2009
Pricing in V-shaped recovery in earnings
Buoyant Asian stock markets have experienced an exhilarating ride in the past two weeks, and it is nothing short of outstanding.Prices are restored to levels before the collapse of Lehman Brothers last September, as investors load up on blue chip stocks, worrying of missing what may result to a...
Continue Reading • 29 Dec 2009
Keppel Corp bags award for safety
In spite of a hectic 2008, Keppel Corporation's offshore and marine (O&M) section observed utmost safety standards earning it a an award during the Annual Workplace Safety and Health (WSH) Awards that was held yesterday by the Ministry of Manpower and the WSH Council.“Since our WSH...
Continue Reading • 28 Dec 2009
180 units sold at Green Meadows
United Overseas Land Limited (UOL) sold 180 out of 250 available units at the private preview of its condo, Meadows@Peirce.According to UOL, flats in the project located in Upper Thomson Road were purchased at an average price of $880 per square foot. Out of the 180 units sold, 87 three-room...
Continue Reading • 28 Dec 2009
Homes oversupply may not be seen next year
Fears of private homes oversupply for the upcoming year have lessened, and there is a possibility of having a shortage.The real estate stat for Q2 of Urban Redevelopment Authority (URA) released last day suggest that any probable oversupply has been predicted to occur in 2011 or maybe later as...
Continue Reading • 28 Dec 2009
Keppel’s one-off gains increased profits to $740m
Keppel Corp has posted their solid earnings for the second quarter, but its book order was another story.The net profit for the past three months ended June 30 climbed 147 percent to $739.5 million, after a sum of $422.2 million was included in the one-off gains.Aside from these increases, profit...
Continue Reading • 28 Dec 2009