More private residential properties bought in first half of 2012
By Claire Huang | Posted: 12 November 2012 2247 hrs
SINGAPORE: The total number of private residential properties bought was about 22,000 in the first half of 2012, as compared to 19,000 in the first half of 2011 and 17,000 in the second half of 2011.
National Development Minister Khaw Boon Wan said this in a written parliamentary response to a question by MP for Pasir Ris-Punggol GRC, Gan Thiam Poh.
He said cooling measures introduced in January last year aimed to eliminate speculative demand and are complemented with an aggressive supply ramp up.
Over the next five years, about 94,000 housing units will be completed.
This is about one-third of the current stock of private housing.
Altogether, the measures have resulted in the increase in the Property Price Index to fall from 18 per cent in 2010 to six per cent last year.
And it has gone down even further to just one per cent in the first three quarters of 2012.
Mr Khaw said the proportion of properties bought by foreigners also fell from 18 per cent last year to six per cent in the first three quarters of this year.
He added that the proportion of sub-sales, a proxy of the level of speculation in the housing market, remained low at about six per cent in the first three quarters of 2012, down from the eight per cent last year.
However, Mr Khaw said prices remained firm and he attributed this to contributory factors including ample global liquidity and the current low interest rate environment which are likely to persist for a while.
He said his ministry is ready to act when necessary.
- CNA/fa
- wong chee tat :)
Tuesday, November 13, 2012
REITs still viewed as attractive investments
REITs still viewed as attractive investments
By Lynda Hong | Posted: 12 November 2012 2345 hrs
SINGAPORE : Singapore Real Estate Investment Trusts (S-REITs) have outperformed the STI significantly as at end-October this year.
And some investors are expecting the good run to continue, driven by capital inflows from stimulus measures in the US.
But some analysts warn that the performance of S-REITs may have peaked.
Market volatility and economic uncertainties are expected to continue to drive demand for REITS which are seen to be less risky and provide steady returns at the same time.
According to OCBC Investment Research, the FTSE ST REIT Index has outperformed the STI by 11 percent since September 13.
That's when US Federal Reserve announced the third round of quantitative easing (QE3).
Prior to the Fed announcement, analysts say the FTSE ST REIT Index was six percent higher than the STI since the beginning of 2012.
Eli Lee, Investment analyst, OCBC Investment Research, said: "QE3 has brought about a greater magnitude to a present trend we are seeing today. The yield for the sector is still very attractive at 6.1 percent. And also on a relative basis to say 10-year Treasury yields. The unique thing is that S-REITs have a very attractive spread relative to our 10-year government yield rates, hovering above 450 to 470 basis points, which is a significantly larger spread to other similar markets like Hong Kong or Japan."
Analysts expect the Federal Reserve to press on with its efforts to spur growth in the US by keeping a loose monetary policy.
And that could see more capital inflows into both REITs and the property market in Singapore.
In fact, a recent survey conducted by the Real Estate Developers' Association of Singapore showed that nearly 7 in 10 respondents believe more funds will flow into REITS as a result of QE3.
But analysts say performance of REITS may have peaked as higher share prices continue to compress yields.
They add that rising construction costs and property prices also make it harder for REIT managers to look for ways to grow.
Roger Tan, CEO of SIAS Research, said: "REITs have enjoyed good times in 2012, it may just be a stable dividend yield, stable capital gain. (In 2013) probably zero capital gain or small capital gain, considering their ability to generate more or higher revenues and (with) M&A activities now a lot lower. So I think investors may flow funds into physical property instead of the REITs itself."
Still, analysts say S-REITS present an attractive investment proposition with average yields of 5 to 6 percent compared to other investments.
In a report out last month, Credit Suisse said within the S-REIT space, retail REITs have the most resilient fundamentals as their rentals and occupancies tend to hold up better than those in the industrial segment.
- CNA/ch
By Lynda Hong | Posted: 12 November 2012 2345 hrs
SINGAPORE : Singapore Real Estate Investment Trusts (S-REITs) have outperformed the STI significantly as at end-October this year.
And some investors are expecting the good run to continue, driven by capital inflows from stimulus measures in the US.
But some analysts warn that the performance of S-REITs may have peaked.
Market volatility and economic uncertainties are expected to continue to drive demand for REITS which are seen to be less risky and provide steady returns at the same time.
According to OCBC Investment Research, the FTSE ST REIT Index has outperformed the STI by 11 percent since September 13.
That's when US Federal Reserve announced the third round of quantitative easing (QE3).
Prior to the Fed announcement, analysts say the FTSE ST REIT Index was six percent higher than the STI since the beginning of 2012.
Eli Lee, Investment analyst, OCBC Investment Research, said: "QE3 has brought about a greater magnitude to a present trend we are seeing today. The yield for the sector is still very attractive at 6.1 percent. And also on a relative basis to say 10-year Treasury yields. The unique thing is that S-REITs have a very attractive spread relative to our 10-year government yield rates, hovering above 450 to 470 basis points, which is a significantly larger spread to other similar markets like Hong Kong or Japan."
Analysts expect the Federal Reserve to press on with its efforts to spur growth in the US by keeping a loose monetary policy.
And that could see more capital inflows into both REITs and the property market in Singapore.
In fact, a recent survey conducted by the Real Estate Developers' Association of Singapore showed that nearly 7 in 10 respondents believe more funds will flow into REITS as a result of QE3.
But analysts say performance of REITS may have peaked as higher share prices continue to compress yields.
They add that rising construction costs and property prices also make it harder for REIT managers to look for ways to grow.
Roger Tan, CEO of SIAS Research, said: "REITs have enjoyed good times in 2012, it may just be a stable dividend yield, stable capital gain. (In 2013) probably zero capital gain or small capital gain, considering their ability to generate more or higher revenues and (with) M&A activities now a lot lower. So I think investors may flow funds into physical property instead of the REITs itself."
Still, analysts say S-REITS present an attractive investment proposition with average yields of 5 to 6 percent compared to other investments.
In a report out last month, Credit Suisse said within the S-REIT space, retail REITs have the most resilient fundamentals as their rentals and occupancies tend to hold up better than those in the industrial segment.
- CNA/ch
Metalor Technologies to build gold refinery in Singapore
Metalor Technologies to build gold refinery in Singapore
By Yvonne Chan | Posted: 12 November 2012 1932 hrs
SINGAPORE : Swiss-based Metalor Technologies is constructing a gold refinery and bullion product manufacturing plant in Singapore.
The plant is slated for completion in the second half of 2013.
In a statement on Monday, Metalor, a precious metals refiner, said the new refinery will provide value to the company's existing customers.
"The construction of a gold refinery in Singapore comes at a time of rising demand for precious metals and is therefore perfectly in line with our development strategy in the Asia-Pacific region," says Scott Morrison, CEO of the Metalor Group.
Metalor also said the refinery needed an initial investment of US$15 million, and uses latest refining technologies and processes that fully comply with Singapore's environmental standards.
The company is working closely with International Enterprise (IE) Singapore to formulate various policy frameworks as well.
"This new facility by Metalor represents a major centre for value-added precious metals processing in the Asia-Pacific region. The speed of this development shows the industry's confidence and our commitment in facilitating the development of Singapore as a precious metals trading hub," said Gina Lim, Group Director of Trade Services & Policy at IE Singapore.
Metalor's decision to invest in a refinery in Singapore comes after the government exempted investment bullion products from the Goods and Services Tax in October this year.
Metalor has refining facilities in Switzerland, USA, Hong Kong and China.
The new gold refinery in Singapore, together with its existing business in advanced coating chemicals, is expected to strengthen Metalor's position in the Southeast Asia region.
- CNA/ch
- wong chee tat :)
By Yvonne Chan | Posted: 12 November 2012 1932 hrs
SINGAPORE : Swiss-based Metalor Technologies is constructing a gold refinery and bullion product manufacturing plant in Singapore.
The plant is slated for completion in the second half of 2013.
In a statement on Monday, Metalor, a precious metals refiner, said the new refinery will provide value to the company's existing customers.
"The construction of a gold refinery in Singapore comes at a time of rising demand for precious metals and is therefore perfectly in line with our development strategy in the Asia-Pacific region," says Scott Morrison, CEO of the Metalor Group.
Metalor also said the refinery needed an initial investment of US$15 million, and uses latest refining technologies and processes that fully comply with Singapore's environmental standards.
The company is working closely with International Enterprise (IE) Singapore to formulate various policy frameworks as well.
"This new facility by Metalor represents a major centre for value-added precious metals processing in the Asia-Pacific region. The speed of this development shows the industry's confidence and our commitment in facilitating the development of Singapore as a precious metals trading hub," said Gina Lim, Group Director of Trade Services & Policy at IE Singapore.
Metalor's decision to invest in a refinery in Singapore comes after the government exempted investment bullion products from the Goods and Services Tax in October this year.
Metalor has refining facilities in Switzerland, USA, Hong Kong and China.
The new gold refinery in Singapore, together with its existing business in advanced coating chemicals, is expected to strengthen Metalor's position in the Southeast Asia region.
- CNA/ch
- wong chee tat :)
HDB to build more rental flats to reduce waiting time
HDB to build more rental flats to reduce waiting time
By Melissa Chong | Posted: 12 November 2012 2341 hrs
SINGAPORE: National Development Minister Khaw Boon Wan announced on Monday the government's target to have 57,000 rental flats by 2015.
Mr Khaw said this in a written response to Member of Parliament Dr Lee Bee Wah, who asked for an update in the measures taken to reduce the waiting time needed to apply for a flat under the Housing and Development Board's (HDB) Public Rental Scheme.
The minister said that the average waiting time for a flat is about six months, which could stretch longer if applicants request for specific locations or blocks.
He said that the government intends to build more rental flats to reduce the waiting time of applicants, with a target of 57,000 units by 2015.
Singapore now has 49,300 units of 1- and 2-room public rental flats, up from 45,500 two years ago.
Mr Khaw reiterated that even as more rental flats are being built, "we must also ensure that they are safeguarded for the poor and needy. These are the vulnerable citizens with no family support or other housing options."
Mr Khaw said the government is also tackling the problem upstream, by advising Singaporeans not to sell their HDB flats with the expectation that HDB will provide them with a heavily subsidised rental flat.
- CNA/jc
- wong chee tat :)
By Melissa Chong | Posted: 12 November 2012 2341 hrs
SINGAPORE: National Development Minister Khaw Boon Wan announced on Monday the government's target to have 57,000 rental flats by 2015.
Mr Khaw said this in a written response to Member of Parliament Dr Lee Bee Wah, who asked for an update in the measures taken to reduce the waiting time needed to apply for a flat under the Housing and Development Board's (HDB) Public Rental Scheme.
The minister said that the average waiting time for a flat is about six months, which could stretch longer if applicants request for specific locations or blocks.
He said that the government intends to build more rental flats to reduce the waiting time of applicants, with a target of 57,000 units by 2015.
Singapore now has 49,300 units of 1- and 2-room public rental flats, up from 45,500 two years ago.
Mr Khaw reiterated that even as more rental flats are being built, "we must also ensure that they are safeguarded for the poor and needy. These are the vulnerable citizens with no family support or other housing options."
Mr Khaw said the government is also tackling the problem upstream, by advising Singaporeans not to sell their HDB flats with the expectation that HDB will provide them with a heavily subsidised rental flat.
- CNA/jc
- wong chee tat :)
Sex tape scholar's conduct "reprehensible & unbecoming": Heng Swee Keat
Sex tape scholar's conduct "reprehensible & unbecoming": Heng Swee Keat
Posted: 12 November 2012 1823 hrs
SINGAPORE: Education Minister Heng Swee Keat called the conduct of ASEAN scholar Alvin Tan reprehensible and unbecoming of a scholar.
The NUS scholar had posted sexually explicit videos and photos of himself and his girlfriend on their blog.
Mr Heng said his ministry does not condone this and he is confident that NUS will take the matter seriously.
He was replying to a query by a Member of Parliament on the selection process for scholarships.
Mr Heng said: "I share the concern and disappointment of the members as well as of the public on the conduct of the student in question. The conduct of the student is reprehensible and unbecoming of a scholar. The ministry does not condone this, nor does NUS. And I'm confident that NUS takes the matter seriously and will do the right thing."
Asked if in such a case, the scholarship should be stripped from the student or a probation meted out, Mr Heng noted that the matter should be left to the NUS board of discipline.
The proceedings of the board are governed by NUS' statutes and regulations.
As for the selection process of such scholars, Mr Heng said the best judgement is exercised at the point of entry.
But from time to time, Mr Heng said lapses do occur despite the best care that is exercised.
Therefore, he said the proper disciplinary process has to be to be undertaken and punishments meted out.
Last week, the NUS Board of Discipline said it had "concluded that Alvin Tan's inappropriate conduct was detrimental to the reputation and dignity of the university".
He has been notified of the decision.
NUS did not specify the nature of the action, and its spokesperson said all matters relating to NUS disciplinary proceedings are confidential.
- CNA/fa
- wong chee tat :)
Posted: 12 November 2012 1823 hrs
SINGAPORE: Education Minister Heng Swee Keat called the conduct of ASEAN scholar Alvin Tan reprehensible and unbecoming of a scholar.
The NUS scholar had posted sexually explicit videos and photos of himself and his girlfriend on their blog.
Mr Heng said his ministry does not condone this and he is confident that NUS will take the matter seriously.
He was replying to a query by a Member of Parliament on the selection process for scholarships.
Mr Heng said: "I share the concern and disappointment of the members as well as of the public on the conduct of the student in question. The conduct of the student is reprehensible and unbecoming of a scholar. The ministry does not condone this, nor does NUS. And I'm confident that NUS takes the matter seriously and will do the right thing."
Asked if in such a case, the scholarship should be stripped from the student or a probation meted out, Mr Heng noted that the matter should be left to the NUS board of discipline.
The proceedings of the board are governed by NUS' statutes and regulations.
As for the selection process of such scholars, Mr Heng said the best judgement is exercised at the point of entry.
But from time to time, Mr Heng said lapses do occur despite the best care that is exercised.
Therefore, he said the proper disciplinary process has to be to be undertaken and punishments meted out.
Last week, the NUS Board of Discipline said it had "concluded that Alvin Tan's inappropriate conduct was detrimental to the reputation and dignity of the university".
He has been notified of the decision.
NUS did not specify the nature of the action, and its spokesperson said all matters relating to NUS disciplinary proceedings are confidential.
- CNA/fa
- wong chee tat :)
Subscribe to:
Posts (Atom)