Supply of private home sites in Singapore to go up
By Hoe Yeen Nie, Channel NewsAsia | Posted: 06 November 2009 1932 hrs
SINGAPORE: The Singapore government is boosting the supply of private residential sites in the first half of next year.
It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001.
The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions and medium-term demand.
Demand has been buoyant, with over 5,700 units sold in the third quarter of this year alone – more than the total number in 2008.
While demand has cooled off slightly, following high prices and moves by the government to curb a speculative bubble, observers believe the property market is on the mend.
For the whole of 2009, regular land sales through the confirmed list were suspended due to poor market conditions. But scheduled sales will resume next year, with a site in Buangkok being one of the largest on offer.
The land parcel, located along Buangkok Drive, can be turned into a 520-unit executive condominium.
In total, eight residential sites are on the confirmed list of the GLS Programme for the first half of next year.
Located at Buangkok, Yishun, Choa Chu Kang, Tampines, Boon Lay, Simei, Sembawang and Upper Serangoon, these sites could see nearly 3,000 new homes built, all aimed at the mass market.
Choy Chan Pong, senior group director, Land Sales & Administration, URA, said: "They are all in suburban areas, so there's a limit to what prices can be. Some may be near MRT station, some may be further from MRT station, so we're really giving a very broad spread of choice for development."
Donald Han, managing director of Cushman & Wakefield, said: "A lot of these are mainly to tackle the concern if prices get out of synch in terms of market fundamentals, and if they get out of reach of the common people.
"In terms of the buyers, you won't have to panic... If you find that today's prices are not affordable, you can afford to wait. There are always alternatives.
"If you are getting married, if you need a place, you could rent first because rentals are still affordable. It has been softening over the last 12 months and it will continue to soften in the next six months."
The remaining 16 residential sites will be sold through the reserve list, which is triggered only when a developer makes a bid that the government considers acceptable.
The list includes a site at Ten Mile Junction at Bukit Panjang, which could see a 200-unit condominium built on top of existing developments. The site will be open for tender in January 2010.
More sites will also be released for hotel use under the GLS Programme.
- CNA/so
- wong chee tat :)
Friday, November 6, 2009
Quintiles to more than double Singapore workforce
Quintiles to more than double Singapore workforce
By 938LIVE
SINGAPORE: Clinical research organisation, Quintiles Transnational, is planning to expand its presence in Singapore. It is doubling its regional headquarters workforce to more than 500 employees.
Manpower Minister Gan Kim Yong said these jobs would provide Singaporeans with the opportunity to play a key role in developing life-saving medicines that will impact patients worldwide.
Speaking at the official opening of Quintiles' Asia-Pacific regional headquarters in Singapore, Mr Gan said pharmaceutical and biotech companies are tapping more on external research resources.
This trend has increased the demand for contract clinical research services offered by companies like Quintiles.
The Economic Development Board (EDB) is also working with Quintiles to make available opportunities for Singaporeans to play a role in advancing human healthcare.
Mr Gan said: "To build up Singapore's pool of clinical researchers, EDB will launch 50 training positions in partnership with companies for Singapore residents who are keen on joining this sector. We are pleased that Quintiles is among the first to come on board this initiative."
Mr Gan added that the Workforce Development Agency is also working to develop a specialist track for clinical research professionals under the Process Workforce Skills Qualification (WSQ) framework.
"In future, clinical research companies can leverage on the WSQ courses to train new trainees and upskill existing workers. The specialist track will equip workers with relevant practical skills and enhance their knowledge in clinical trial management."
This is targeted to be available by the second quarter next year.
Singapore's biomedical sciences sector employs 16,000 people including 4,000 researchers.
The global contract clinical research market, worth US$20 billion last year, is expected to grow annually by 8.5 percent to reach US$35 billion in 2015.
- 938LIVE/ir
- wong chee tat :)
By 938LIVE
SINGAPORE: Clinical research organisation, Quintiles Transnational, is planning to expand its presence in Singapore. It is doubling its regional headquarters workforce to more than 500 employees.
Manpower Minister Gan Kim Yong said these jobs would provide Singaporeans with the opportunity to play a key role in developing life-saving medicines that will impact patients worldwide.
Speaking at the official opening of Quintiles' Asia-Pacific regional headquarters in Singapore, Mr Gan said pharmaceutical and biotech companies are tapping more on external research resources.
This trend has increased the demand for contract clinical research services offered by companies like Quintiles.
The Economic Development Board (EDB) is also working with Quintiles to make available opportunities for Singaporeans to play a role in advancing human healthcare.
Mr Gan said: "To build up Singapore's pool of clinical researchers, EDB will launch 50 training positions in partnership with companies for Singapore residents who are keen on joining this sector. We are pleased that Quintiles is among the first to come on board this initiative."
Mr Gan added that the Workforce Development Agency is also working to develop a specialist track for clinical research professionals under the Process Workforce Skills Qualification (WSQ) framework.
"In future, clinical research companies can leverage on the WSQ courses to train new trainees and upskill existing workers. The specialist track will equip workers with relevant practical skills and enhance their knowledge in clinical trial management."
This is targeted to be available by the second quarter next year.
Singapore's biomedical sciences sector employs 16,000 people including 4,000 researchers.
The global contract clinical research market, worth US$20 billion last year, is expected to grow annually by 8.5 percent to reach US$35 billion in 2015.
- 938LIVE/ir
- wong chee tat :)
Kingdom of Heaven
Seek ye first the kingdom of heaven, and all else shall be added unto you. [Mathew]
- wong chee tat :)
- wong chee tat :)
Roche opens US$500m manufacturing plant in Singapore
Roche opens US$500m manufacturing facility in Singapore
By Yasmine Yahya, Channel NewsAsia
SINGAPORE : Swiss healthcare firm Roche has officially opened a US$500 million biologics manufacturing plant in Singapore.
The facility in Tuas comprises two manufacturing plants - one will produce two cancer drugs, Avastin and Herceptin, while the other will manufacture a medicine called Lucentis which treats patients with age-related macular degeneration, an eye disease.
The firm has no plans to expand the facility, as its global operations have sufficient capacity for its current and future manufacturing pipeline. But capacity is expected to be ramped up by improving manufacturing yields and productivity.
"This plant was designed for the E.coli or bacterial fermentation platform, but we can produce products like Nutropin, a growth hormone, here. And we also have other products in our pipeline that could potentially be produced here in the future," said Jim Miller, GM of Technical Operations at Roche, Singapore.
Roche has six biologics manufacturing sites around the world, with the one in Singapore being its first in the region. Miller said one reason why the firm decided to enter the Asian market was because of its growing sales potential.
"The market is changing. Where the US and Europe have been the predominant market leaders in the past for the types of medicines that we make, we really see that one of largest populations for cancer will be in Asia. So being here in Singapore is a very important part of the whole plan to supply, hopefully, the world someday with medicines," said Miller.
The Singapore facility currently employs 330 workers, and this figure is expected to rise to over 400 by the end of next year.
- CNA /ls
- wong chee tat :)
By Yasmine Yahya, Channel NewsAsia
SINGAPORE : Swiss healthcare firm Roche has officially opened a US$500 million biologics manufacturing plant in Singapore.
The facility in Tuas comprises two manufacturing plants - one will produce two cancer drugs, Avastin and Herceptin, while the other will manufacture a medicine called Lucentis which treats patients with age-related macular degeneration, an eye disease.
The firm has no plans to expand the facility, as its global operations have sufficient capacity for its current and future manufacturing pipeline. But capacity is expected to be ramped up by improving manufacturing yields and productivity.
"This plant was designed for the E.coli or bacterial fermentation platform, but we can produce products like Nutropin, a growth hormone, here. And we also have other products in our pipeline that could potentially be produced here in the future," said Jim Miller, GM of Technical Operations at Roche, Singapore.
Roche has six biologics manufacturing sites around the world, with the one in Singapore being its first in the region. Miller said one reason why the firm decided to enter the Asian market was because of its growing sales potential.
"The market is changing. Where the US and Europe have been the predominant market leaders in the past for the types of medicines that we make, we really see that one of largest populations for cancer will be in Asia. So being here in Singapore is a very important part of the whole plan to supply, hopefully, the world someday with medicines," said Miller.
The Singapore facility currently employs 330 workers, and this figure is expected to rise to over 400 by the end of next year.
- CNA /ls
- wong chee tat :)
US jobless rate hits 10.2% as 190,000 jobs lost
US jobless rate hits 10.2% as 190,000 jobs lost
WASHINGTON - US unemployment rate shot up to 10.2 percent in October as another 190,000 jobs were shed, the Labor Department said Friday.
The report highlighted ongoing struggles in the labor market: the jobless rate was the highest since 1983 but the number of jobs lost narrowed to the lowest level in over a year.
Overall, the Labor Department monthly report - one of the best indicators of
economic momentum - was worse than expectations for a 10 percent jobless rate and 175,000 job losses.
- AFP/ir
- wong chee tat :)
WASHINGTON - US unemployment rate shot up to 10.2 percent in October as another 190,000 jobs were shed, the Labor Department said Friday.
The report highlighted ongoing struggles in the labor market: the jobless rate was the highest since 1983 but the number of jobs lost narrowed to the lowest level in over a year.
Overall, the Labor Department monthly report - one of the best indicators of
economic momentum - was worse than expectations for a 10 percent jobless rate and 175,000 job losses.
- AFP/ir
- wong chee tat :)
IMF predicts "sluggish" growth for Asia in 2010 at 5.75%
IMF predicts "sluggish" growth for Asia in 2010 at 5.75%
By Ng Baoying, Channel NewsAsia | Posted: 03 November 2009 2102 hrs
SINGAPORE: The International Monetary Fund expects Asia's economy to grow around 5.8 per cent next year. This is below the 6.7 per cent average recorded over the past decade.
But in its latest regional economic outlook report, the IMF has still described Asia's expansion next year as "sluggish".
It expects low consumption from the G7 economies to keep export demand weak.
Asian economies have been showing signs of recovering from the global financial crisis late last year.
And while the IMF said growth is expected to be sluggish, the expansion is still at a positive 5.8 per cent.
As widely-expected, China is expected to lead growth at nine per cent with India in second place at 6.5 per cent.
Newly industrialised economies such as Singapore, Hong Kong and Taiwan are not far behind, with growth projected to come in at between 3.5 and 4.3 per cent.
Harm Zebregs, resident representative, Singapore, International Monetary Fund, said: “We see Asia recovering quite strongly at the moment from the very sharp contraction late last year which continued into the first two months of this year. This recovery is led by a normalisation of exports, restocking in the US and Europe, and a very strong policy response of course by the governments here in the region, both fiscal and monetary policy.
“The IMF said that Asian policy makers have one key challenge in the near term - that is, to maintain stimulus policies long enough for a recovery - but not too long such that inflationary pressures, and fiscal sustainability issues creep up."
But the IMF also notes that there are some factors beyond the control of governments.
Mr Zebregs said: "The recovery that's taking shape in the US and Europe, if that falters, that will have an impact on Asia because Asia is still dependent on exports to these countries. At the same time if there would be renewed turbulence in financial markets, a return to risk aversion, that could lead to capital outflows from Asia and could create new stress in financial markets here."
He suggests that to mitigate this issue in the longer term, policy makers should tackle issues such as encouraging domestic consumption.
One way would be to provide better social safety nets to reduce the need for private precautionary savings.
- CNA/vm
- wong chee tat :)
By Ng Baoying, Channel NewsAsia | Posted: 03 November 2009 2102 hrs
SINGAPORE: The International Monetary Fund expects Asia's economy to grow around 5.8 per cent next year. This is below the 6.7 per cent average recorded over the past decade.
But in its latest regional economic outlook report, the IMF has still described Asia's expansion next year as "sluggish".
It expects low consumption from the G7 economies to keep export demand weak.
Asian economies have been showing signs of recovering from the global financial crisis late last year.
And while the IMF said growth is expected to be sluggish, the expansion is still at a positive 5.8 per cent.
As widely-expected, China is expected to lead growth at nine per cent with India in second place at 6.5 per cent.
Newly industrialised economies such as Singapore, Hong Kong and Taiwan are not far behind, with growth projected to come in at between 3.5 and 4.3 per cent.
Harm Zebregs, resident representative, Singapore, International Monetary Fund, said: “We see Asia recovering quite strongly at the moment from the very sharp contraction late last year which continued into the first two months of this year. This recovery is led by a normalisation of exports, restocking in the US and Europe, and a very strong policy response of course by the governments here in the region, both fiscal and monetary policy.
“The IMF said that Asian policy makers have one key challenge in the near term - that is, to maintain stimulus policies long enough for a recovery - but not too long such that inflationary pressures, and fiscal sustainability issues creep up."
But the IMF also notes that there are some factors beyond the control of governments.
Mr Zebregs said: "The recovery that's taking shape in the US and Europe, if that falters, that will have an impact on Asia because Asia is still dependent on exports to these countries. At the same time if there would be renewed turbulence in financial markets, a return to risk aversion, that could lead to capital outflows from Asia and could create new stress in financial markets here."
He suggests that to mitigate this issue in the longer term, policy makers should tackle issues such as encouraging domestic consumption.
One way would be to provide better social safety nets to reduce the need for private precautionary savings.
- CNA/vm
- wong chee tat :)
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