The need for Structural changes
Based on the latest reports, the current property prices are approximately 19 times the average annual income of every household.Based on the average household income of $5,500 and the common household size of 3.5 persons, four- to five-room flat of about 1,200 square foot will cost an average...
Continue Reading • 28 Dec 2009
Singapore dollar edges past major counterparts
The bulls for now seem to be taking a breather as stocks in Asia and the United States have handed over their gains, snapping a streak of solid gains seen over the last past week.Unsurprisingly, risky currencies also withdrew against the greenback despite the fact that the Singapore dollar edged...
Continue Reading • 28 Dec 2009
Risky asset recovery performance based on crucial factors
Risk on hedging equities positions for long-term portfolios of investors have sharply increased along with prices.The recent correction of 20 percent in stock prices on Shanghai stock exchange may not have indicated the stock rally’s end, but instead might serve as a warning and prediction...
Continue Reading • 28 Dec 2009
Prime residential prices may increase 18% by end-2010
Based on the UBS Investment Research, launch prices for newly built private houses has increased by 18 percent and 10 percent in mass and prime districts respectively during the first half of 2009.As foreigners start to purchase and the interests continue to improve, analysts Michael Lim and...
Continue Reading • 28 Dec 2009
Home Affordability Issues
Houses will become more affordable when income of every household grows, according to a Saturday report.With that, a correct comparison should be done.It is useless to relate the recent property boom with the developments in 1996 and then assume that things are much better now than in the past....
Continue Reading • 28 Dec 2009
Consumer confidence increases in Q2
A research conducted by Nielsen Global Consumer Confidence Survey shows that consumer confidence has improved during the second quarter, as uncertainties over employment security and the financial system fades.As determined by a June survey of 500 online consumers, Singapore's consumer confidence...
Continue Reading • 28 Dec 2009
2009 visitor arrivals post smallest downturn at 4.5%
Visitor arrivals fall down by 4.5 percent at 881,000 in July, marking the smallest downturn in 2009.In comparison, visitor arrivals in June were 8.9 percent lower at 750,000, but arrival days in July were at 4.6 million, a yearly decline of 11.6 percent.The top five visitor generating markets in...
Continue Reading • 28 Dec 2009
TA Enterprise Berhad to acquire Swissotel Merchant Court Singapore
TA Enterprise Berhad, which is listed with Bursa, has agreed to purchase the Swissotel Merchant Court Singapore from LaSalle Asia Opportunity II SARL for about $260 million.The price of acquisition totals to almost $546,200 for each room.The site of the 476-room hotel is on a lease for almost 84...
Continue Reading • 28 Dec 2009
STI recovers following Wall Street rally
Singapore Exchange’s Straits Times Index (STI) bounced back following improvement at Wall Street.After dropping 86 points in last week's sell-off that was allegedly brought about by weakness in the stock market of China, STI rebounded by 67.47 points and closed at 2,612.33 yesterday after...
Continue Reading • 28 Dec 2009
SME owner’s view in building Singapore Inc
According to R Theyvendran, the chairman/managing director of Stamford Media International Group of Companies, though the furniture division model can be copied into many other divisions, in economic and trade matters, Singapore carries a great reputation. He said that their tourism division has...
Continue Reading • 28 Dec 2009
Singapore remains unaffected amid shift on income tax patterns
A tax-friendly environment remains in Singapore, but a KPMG study conducted globally has discovered that the decline in the highest personal income based on tax rates throughout the past seven years may reach its final stage, as governments worldwide look for new references of spending...
Continue Reading • 28 Dec 2009
Serangoon Avenue 3 plot gets $83.7 million bid
Another suburban residential site that is included in the reserve list of the Singaporean Government has been put up for sale, indicating increasing developer confidence.Yesterday, an anonymous developer tendered the lowest acceptable bid amounting to $83.7 million (about $200 per square feet)...
Continue Reading • 28 Dec 2009
Net worth of S’pore households drops slightly
According to the analysis of a senior Citigroup economist, Singapore households’ net worth has slightly decreased from its peak in the past year, but is still higher as compared to that at the beginning of the decade.One probable reason for the volume in property sales and the strong...
Continue Reading • 28 Dec 2009
Moody's outlook for A-REIT is stable
Investors Service of Moody’s has altered its evaluation outlook yesterday, from “negative” to ”stable” for the Ascendas Real Estate Investment Trust (A-REIT). According to Kathleen Lee, the senior analyst of Moody’s, its outlook for A-REIT’s 'Baa1'...
Continue Reading • 28 Dec 2009
Lower income groups hit by inflation
New Government figures revealed 20 percent of Singapore’s poorest were hit twice by inflation on the first half of this year than more fortunate households.Largely because of increasing housing and food prices, 1.6 percent inflation during the first half were experienced by the low-income...
Continue Reading • 28 Dec 2009
Fortune REIT raises funds to purchase Hong Kong malls
Fortune REIT is raising funds amounting to approximately $930 million or HK$5 billion through rights issue and debt facilities, conjoining the spate of S-REITs, which rolled out their re-funding plans.A term loan of HK$480 million and the majority of the gross proceeds, amounting to HK$1.9...
Continue Reading • 28 Dec 2009
CPI sneaks up 1.1% in July on residential costs
Department of Statistics (DOS) said the consumer price index of Singapore increased 1.1 percent in July, but dropped 0.5 percent every year.The annual turndown was attributed to lower communications and transport, recreation and housing, and other related items.The cost of communication and...
Continue Reading • 28 Dec 2009
Another site on the reserve list activated for release
In Singapore, the reserve list of the government triggered a 99-year leasehold area for release. The developers plan to replenish the land banks with suburban condominium lands following the accumulation in residential sales.Other successful applications from the developers are expected by market...
Continue Reading • 28 Dec 2009
Is the market constantly correct?
It is always interesting to question any conventional wisdom in the stock market, either when the mood is overtly pessimistic or optimistic. A lot of market watchers would point to a time-honored maxim that the market is at all times right.As a general rule, this approach would be correct; one...
Continue Reading • 24 Dec 2009
All systems go for aerospace hub - JTC
With a lot of companies revitalising setback projects at Seletar Aeropace Park (SAP), other authorities and JTC Corp, which are assigned to manage the construction of the latest aerospace hub in Singapore are pushing further on the facility’s multi-million progress.According to Tang Wai...
Continue Reading • 24 Dec 2009