Sunday, October 25, 2009
Project Updates / Status
I had not gave an update about the project for some time, because of lots of HRM meetings and presentations.
Finally, I met advisor on Monday and he went through some of the portions that were wrong and the areas that needed revisions. Some of the portions were not clear and needed to change.
Made the required revisions quickly and later part of the week focused on simulations results and discussions. This is a big chapter that had the most changes to do. According to adviser, part of the algorithm to compute the required values in the model were wrong and therefore unable to obtain the required simulation results.
Quickly schedule a time to meet him again to clear my remaining doubts. He took time to explain. The later part of the week spent most of the time thinking it through and checking and modifying the code and verifying the results.
Hope the computed results are correct!
Finally, I met advisor on Monday and he went through some of the portions that were wrong and the areas that needed revisions. Some of the portions were not clear and needed to change.
Made the required revisions quickly and later part of the week focused on simulations results and discussions. This is a big chapter that had the most changes to do. According to adviser, part of the algorithm to compute the required values in the model were wrong and therefore unable to obtain the required simulation results.
Quickly schedule a time to meet him again to clear my remaining doubts. He took time to explain. The later part of the week spent most of the time thinking it through and checking and modifying the code and verifying the results.
Hope the computed results are correct!
HDB resale flat prices hit new high in Q3
HDB resale flat prices hit new high in Q3
By Ng Baoying, Channel NewsAsia
SINGAPORE: Prices of HDB resale flats in Singapore rose to record highs in the third quarter, according to data released on Friday.
The latest data from the Housing and Development Board (HDB) showed that the Resale Price Index rose 3.6 per cent in the third quarter over the previous quarter to 145.2 points.
This has raised concern among some potential homebuyers, who fear that prices may continue to rise.
The last time the HDB resale market saw such high transaction volumes was more than four years ago, in the fourth quarter of 2004. Back then, 11,562 changed hands, compared to the 11,649 seen in the third quarter ended September this year.
ERA Real Estate said the typical quarterly HDB resale volume ranges from 6,000 to 8,000 units at most.
Eugene Lim, associate director, ERA Asia Pacific, said: "We have seen the HDB resale volume jump to above 10,000 for second quarter and above 11,600 for the third quarter this year.
"The third quarter is a very good month for HDB resale. It's likely to taper off partly because cash over valuation, due to increased demand, has increased.
"HDB homebuyers are a price sensitive lot. So it will probably hit a resistance level. And in that sense we will expect resale volume to taper downwards in the last quarter."
Mr Lim also said that the slowing resale transactions will see 4th quarter prices increase at a slower rate, by about 2 to 3 per cent.
HDB homebuyers and sellers said they are concerned about the increase in prices, and are studying the market closely before making any buying or selling decisions.
"I just need to survey whether I and my girl can save up some money when we get married, whether we can share the burden to buy the house," said Freddy Samsi, a potential homebuyer.
A private homeowner, John Bosco said: "I don't think we're really out of the economy, out of the woods yet. And yet housing prices have gone up to a level which I think will not sustain. I'm not sure if the government pegging it to resale is a good idea, because they should keep their own prices."
He said that property and housing are close to people's hearts and HDB should make things affordable for people. "Paying S$600,000 for a HDB flat is... obscene actually," he added.
However, Mr Teo LT, a homeowner, said that he would prefer prices to be high. "I've already bought mine, so I want the price to be stable at the price I bought, and not dip immediately," he added.
Going forward, analysts said they expect activity in the HDB market to maintain at current levels as the economy recovers.
Meanwhile, private home prices were similarly buoyant - up 15.8 per cent in the third quarter, compared to the second quarter. This is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.
- CNA/sc
- wong chee tat :)
By Ng Baoying, Channel NewsAsia
SINGAPORE: Prices of HDB resale flats in Singapore rose to record highs in the third quarter, according to data released on Friday.
The latest data from the Housing and Development Board (HDB) showed that the Resale Price Index rose 3.6 per cent in the third quarter over the previous quarter to 145.2 points.
This has raised concern among some potential homebuyers, who fear that prices may continue to rise.
The last time the HDB resale market saw such high transaction volumes was more than four years ago, in the fourth quarter of 2004. Back then, 11,562 changed hands, compared to the 11,649 seen in the third quarter ended September this year.
ERA Real Estate said the typical quarterly HDB resale volume ranges from 6,000 to 8,000 units at most.
Eugene Lim, associate director, ERA Asia Pacific, said: "We have seen the HDB resale volume jump to above 10,000 for second quarter and above 11,600 for the third quarter this year.
"The third quarter is a very good month for HDB resale. It's likely to taper off partly because cash over valuation, due to increased demand, has increased.
"HDB homebuyers are a price sensitive lot. So it will probably hit a resistance level. And in that sense we will expect resale volume to taper downwards in the last quarter."
Mr Lim also said that the slowing resale transactions will see 4th quarter prices increase at a slower rate, by about 2 to 3 per cent.
HDB homebuyers and sellers said they are concerned about the increase in prices, and are studying the market closely before making any buying or selling decisions.
"I just need to survey whether I and my girl can save up some money when we get married, whether we can share the burden to buy the house," said Freddy Samsi, a potential homebuyer.
A private homeowner, John Bosco said: "I don't think we're really out of the economy, out of the woods yet. And yet housing prices have gone up to a level which I think will not sustain. I'm not sure if the government pegging it to resale is a good idea, because they should keep their own prices."
He said that property and housing are close to people's hearts and HDB should make things affordable for people. "Paying S$600,000 for a HDB flat is... obscene actually," he added.
However, Mr Teo LT, a homeowner, said that he would prefer prices to be high. "I've already bought mine, so I want the price to be stable at the price I bought, and not dip immediately," he added.
Going forward, analysts said they expect activity in the HDB market to maintain at current levels as the economy recovers.
Meanwhile, private home prices were similarly buoyant - up 15.8 per cent in the third quarter, compared to the second quarter. This is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.
- CNA/sc
- wong chee tat :)
Employers urged to adopt fair wage system for older workers
Employers urged to adopt fair wage system for older workers
By Saifulbahri Ismail/Asha Popatlal, Channel NewsAsia
SINGAPORE : Manpower Minister Gan Kim Yong has urged companies to adopt a fair and equitable stance in dealing with workers' wages when they turn 60.
Mr Gan said employers should not simply reduce salaries by the maximum 10 per cent permitted by the law.
The practice of a pay cut of up to 10 per cent for older workers started some 10 years ago.
Then, it was meant to alleviate the costs associated with a seniority-based wage system, and help ease the burden on companies as the retirement age was raised progressively from 60 to the prevailing 62.
Recently, the labour movement said it wants to end this practice.
Speaking to reporters at a community event on Saturday, Mr Gan called on companies to consider installing a more flexible-based wage system.
He said: "They really should take into account whether the seniority wage system still exists in the company. They should also take into account reasonable factors such as the type of jobs that they are doing, the productivity of the workers and the performance of the workers."
The Manpower Minister also responded to feedback given by older workers who have raised concerns about the cut in employers' Central Provident Fund (CPF) contribution rate.
Upon turning 50, this is reduced from 14.5 per cent to 10.5 per cent. Those aged 60 receive 5 per cent, or a two-third reduction from the top rate.
Mr Gan explained this is necessary to enhance the employability of older workers.
He said: "If we were to raise the CPF now or restore the CPF for the older workers, it may adversely affect the employability of the older workers and affect the competitiveness of the company and eventually, it will not be to the advantage of our older workers."
The Manpower Ministry said the employment rate of older workers aged 55 to 64 has improved, up from 45 per cent in 2003 to 57 per cent at end-2008.
- CNA/ms
- wong chee tat :)
By Saifulbahri Ismail/Asha Popatlal, Channel NewsAsia
SINGAPORE : Manpower Minister Gan Kim Yong has urged companies to adopt a fair and equitable stance in dealing with workers' wages when they turn 60.
Mr Gan said employers should not simply reduce salaries by the maximum 10 per cent permitted by the law.
The practice of a pay cut of up to 10 per cent for older workers started some 10 years ago.
Then, it was meant to alleviate the costs associated with a seniority-based wage system, and help ease the burden on companies as the retirement age was raised progressively from 60 to the prevailing 62.
Recently, the labour movement said it wants to end this practice.
Speaking to reporters at a community event on Saturday, Mr Gan called on companies to consider installing a more flexible-based wage system.
He said: "They really should take into account whether the seniority wage system still exists in the company. They should also take into account reasonable factors such as the type of jobs that they are doing, the productivity of the workers and the performance of the workers."
The Manpower Minister also responded to feedback given by older workers who have raised concerns about the cut in employers' Central Provident Fund (CPF) contribution rate.
Upon turning 50, this is reduced from 14.5 per cent to 10.5 per cent. Those aged 60 receive 5 per cent, or a two-third reduction from the top rate.
Mr Gan explained this is necessary to enhance the employability of older workers.
He said: "If we were to raise the CPF now or restore the CPF for the older workers, it may adversely affect the employability of the older workers and affect the competitiveness of the company and eventually, it will not be to the advantage of our older workers."
The Manpower Ministry said the employment rate of older workers aged 55 to 64 has improved, up from 45 per cent in 2003 to 57 per cent at end-2008.
- CNA/ms
- wong chee tat :)
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