95% of Jurong EC snapped up on first day of sales
Lake Life is the first executive condominium project in Jurong in 17 years. Out of the 546 units, 521 have been sold.
SINGAPORE: The first executive condominium (EC) project in Jurong in 17 years opened for booking on Saturday (Nov 8), and it has already sold 95 per cent of its units - 521 units. This makes Lake Life EC the project that sold the most number of units on the first day of sales since June last year.
Sales of the project crossed the 50 per cent mark by noon. By 4pm, 446 units were snapped up.
Its developer said the "overwhelming response" is likely due to the project's location - at Jurong Lake District, and recent announcements by the government to further develop the Jurong area.
Two buyers Channel NewsAsia spoke with are HDB dwellers living in the vicinity. They said in addition to location, price was also a key consideration.
Prices of the 546-unit development average S$857 psf, lower than the earlier indicative prices of S$880 to S$890 psf, with a two-bedroom unit going for S$685,000 on average.
"In terms of the price per square foot, I think this was quite attractive compared to the private developments - I think about 25 to 30 per cent less compared to the other private developments that we saw,” said buyer Nilesh Jadha, who currently owns a five-room HDB flat.
"We love Jurong, we have been staying here for many years and this is the first EC project after 17 years,” said another buyer, Bryan Loh. “We also looked around at other private properties but they are overpriced. I think this EC is the right price for us to buy and stay."
The next EC in Jurong will be launched after the first quarter of next year. It is located at Westwood Avenue, near Nanyang Technological University.
- CNA/xq
- wong chee tat :)
Monday, November 10, 2014
SGX sets up board of inquiry to probe power outage: DPM Tharman
SGX sets up board of inquiry to probe power outage: DPM Tharman
The power outage caused a halt in the trading of securities and derivatives for more than three hours on Wednesday afternoon (Nov 5).
SINGAPORE: A board of inquiry has been set up by the Singapore Exchange (SGX) to investigate the power outage which caused a halt in the trading of securities and derivatives for more than three hours on Wednesday afternoon (Nov 5).
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam said this on the sidelines of a free health screening event in Jurong on Sunday. Mr Tharman said SGX has appointed independent experts to look into several matters, including power supply and recovery processes.
Preliminary investigations showed that SGX's backup power supply, also known as the Uninterruptible Power Supply, did not kick in. Mr Tharman said this is one area the board of inquiry will investigate.
"This is equipment that had been tested, has gone through disaster recovery exercises, but something failed. Not just with regard to the primary power supply, but the backup system. So they have to get to the bottom of that," he said.
The inquiry team will comprise four Board directors who are all independent of management. It will be chaired by Mr Quah Wee Ghee, the Chairman of SGX's Risk Management Committee. The other three members are Mr Chew Choon Seng, Mr Kevin Kwok and Mr Lee Hsien Yang. SGX is required to submit a preliminary investigation report to the Monetary Authority of Singapore (MAS) within two weeks of the Nov 5 incident.
Mr Tharman also said the board of inquiry will be looking into decision-making processes during a crisis. "Sometimes you need a setback like this to look at all your processes very thoroughly, because crises don't happen often, but you have got to have a tight system of SOPs so that you can make decisions quickly and understand the risks and make a judgment quickly in that circumstance."
Mr Tharman said Wednesday's incident "does not help" Singapore's reputation as a financial hub, even though similar incidents have occurred in financial centres overseas. "It doesn't matter what happens overseas. We've got to get it right here, and make sure our reputation is kept intact," he said.
He added that the Monetary Authority of Singapore (MAS) will be monitoring investigations closely and will decide on any course of action at a later date.
Mr Tharman was speaking after touring the Community Health Day at SATA CommHealth Jurong East Medical Centre. Some 300 Jurong residents received free health screening on Sunday morning.
Those above the age of 50 had glaucoma and osteoporosis checks. In Singapore, glaucoma affects about 3 per cent of people aged over 50, and the risk increases with age. Given the ageing population, more people are expected to suffer from hip fractures.
During Sunday's event, participants also went for chest X-rays or had their blood pressure, blood glucose and cholesterol levels checked. SATA CommHealth provided these services as part of Community Health Day. This is the 12th time that Community Health Day is held in Singapore.
- CNA/nd/ir
- wong chee tat :)
The power outage caused a halt in the trading of securities and derivatives for more than three hours on Wednesday afternoon (Nov 5).
SINGAPORE: A board of inquiry has been set up by the Singapore Exchange (SGX) to investigate the power outage which caused a halt in the trading of securities and derivatives for more than three hours on Wednesday afternoon (Nov 5).
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam said this on the sidelines of a free health screening event in Jurong on Sunday. Mr Tharman said SGX has appointed independent experts to look into several matters, including power supply and recovery processes.
Preliminary investigations showed that SGX's backup power supply, also known as the Uninterruptible Power Supply, did not kick in. Mr Tharman said this is one area the board of inquiry will investigate.
"This is equipment that had been tested, has gone through disaster recovery exercises, but something failed. Not just with regard to the primary power supply, but the backup system. So they have to get to the bottom of that," he said.
The inquiry team will comprise four Board directors who are all independent of management. It will be chaired by Mr Quah Wee Ghee, the Chairman of SGX's Risk Management Committee. The other three members are Mr Chew Choon Seng, Mr Kevin Kwok and Mr Lee Hsien Yang. SGX is required to submit a preliminary investigation report to the Monetary Authority of Singapore (MAS) within two weeks of the Nov 5 incident.
Mr Tharman also said the board of inquiry will be looking into decision-making processes during a crisis. "Sometimes you need a setback like this to look at all your processes very thoroughly, because crises don't happen often, but you have got to have a tight system of SOPs so that you can make decisions quickly and understand the risks and make a judgment quickly in that circumstance."
Mr Tharman said Wednesday's incident "does not help" Singapore's reputation as a financial hub, even though similar incidents have occurred in financial centres overseas. "It doesn't matter what happens overseas. We've got to get it right here, and make sure our reputation is kept intact," he said.
He added that the Monetary Authority of Singapore (MAS) will be monitoring investigations closely and will decide on any course of action at a later date.
Mr Tharman was speaking after touring the Community Health Day at SATA CommHealth Jurong East Medical Centre. Some 300 Jurong residents received free health screening on Sunday morning.
Those above the age of 50 had glaucoma and osteoporosis checks. In Singapore, glaucoma affects about 3 per cent of people aged over 50, and the risk increases with age. Given the ageing population, more people are expected to suffer from hip fractures.
During Sunday's event, participants also went for chest X-rays or had their blood pressure, blood glucose and cholesterol levels checked. SATA CommHealth provided these services as part of Community Health Day. This is the 12th time that Community Health Day is held in Singapore.
- CNA/nd/ir
- wong chee tat :)
Singaporeans more upbeat over jobs, finances: Nielsen
Singaporeans more upbeat over jobs, finances: Nielsen
However, while consumer confidence is rising, more Singaporeans say they want to put their spare cash into savings compared to the same time last year, according to the Nielsen Survey of Consumer Confidence and Spending Intentions.
- wong chee tat :)
However, while consumer confidence is rising, more Singaporeans say they want to put their spare cash into savings compared to the same time last year, according to the Nielsen Survey of Consumer Confidence and Spending Intentions.
SINGAPORE: People in the Republic are more upbeat over their job prospects and personal finances, according to the latest findings from global measurement company Nielsen.
According to the third-quarter Consumer Confidence Index released on Monday (Nov 10), consumer confidence levels climbed over the 100-point baseline for the first time since Q3 2011 to reach 103 points. Consumer confidence levels above and below the baseline indicate degrees of optimism and pessimism.
In Nielsen's Global Survey of Consumer Confidence and Spending Intentions, it also revealed that 59 per cent of Singaporeans see their personal finances for the coming year as good or excellent. There was also an eight-point increase on-quarter in the number of consumers who feel that future job prospects would be positive, from 53 per cent in Q2 to 61 per cent in Q3.
While confidence is on the rise, more Singaporean want to put their spare cash into savings compared to the same time last year, showed the survey. But Singaporeans are also the most inclined to spend their spare cash on vacations globally, with 51 per cent willing to spend on trips. This is an increase of 8 percentage points, compared to Q2 2014.
On the other end of the scale, 5 per cent of Singaporeans surveyed in the third quarter said they have no spare cash.
Singaporeans are also trying to cut down on their household bills, reported Nielsen, with 63 per cent wanting to do so. To this end, they said they want to spend less on new clothes, switch to cheaper grocery brands and cut down on out-of-home entertainment.
The Nielsen Survey of Consumer Confidence and Spending Intentions was conducted between Aug 13 and Sep 5 this year, and polled 515 Singaporeans. The findings were based only on the behaviour of respondents with Internet access, according to the company.
- CNA/av
- wong chee tat :)
Can't sleep ....
weather was very cooling last night.... but for some reason, I did not sleep well.... Why? Monday blues?
- wong chee tat :)
- wong chee tat :)
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