It is raining the whole day and cold too.
- wong chee tat :)
Friday, November 13, 2009
Construction of S$2b multi-utilities plant begins on Jurong Island
Construction of S$2b multi-utilities plant begins on Jurong Island
By Ryan Huang, Channel NewsAsia | Posted: 11 November 2009 2209 hrs
SINGAPORE: Construction works have begun on the Tembusu Multi-Utilities Complex - a S$2 billion facility on Jurong Island for generating steam, chilled water, electricity and treating industrial waste.
The multi-utilities plant is expected to help develop Singapore's petrochemical sector, as well as bolster the country's energy security.
"As a utilities provider, it is important to put in the necessary infrastructure in place, and this will provide the impetus for new investors to invest in Jurong Island," said Lim Kong Puay, president & CEO, Tuas Power.
The move is in line with the nation's plans to develop the Tembusu area of Jurong Island as a new petrochemical sector over the next five years.
The new plant is expected to be about 10 per cent more cost-efficient than conventional ones due to synergies from producing the various utilities. One example is the simultaneous production of steam and electricity.
The facility will be completed in two phases, and will be partially ready by 2012. The rest of the complex will be ready by 2014.
The facility will be run by Tuas Power, which is a member of China Huaneng Group. It represents one of the most significant Chinese investments in Singapore and is expected to further enhance the island's position as a platform for firms to go international.
Leo Yip, chairman, Singapore Economic Development Board, said: "We welcome the opening of Tuas Power's Tembusu Multi-Utilities Complex to enhance the range of third party utilities options as well as competitiveness on Jurong Island.
"With Asia becoming an increasingly important consumer of energy and chemical products, Singapore is well positioned to be a strategic base for Chinese energy and chemical companies seeking to internationalise and access new markets to drive business opportunities."
- CNA/sc
- wong chee tat :)
By Ryan Huang, Channel NewsAsia | Posted: 11 November 2009 2209 hrs
SINGAPORE: Construction works have begun on the Tembusu Multi-Utilities Complex - a S$2 billion facility on Jurong Island for generating steam, chilled water, electricity and treating industrial waste.
The multi-utilities plant is expected to help develop Singapore's petrochemical sector, as well as bolster the country's energy security.
"As a utilities provider, it is important to put in the necessary infrastructure in place, and this will provide the impetus for new investors to invest in Jurong Island," said Lim Kong Puay, president & CEO, Tuas Power.
The move is in line with the nation's plans to develop the Tembusu area of Jurong Island as a new petrochemical sector over the next five years.
The new plant is expected to be about 10 per cent more cost-efficient than conventional ones due to synergies from producing the various utilities. One example is the simultaneous production of steam and electricity.
The facility will be completed in two phases, and will be partially ready by 2012. The rest of the complex will be ready by 2014.
The facility will be run by Tuas Power, which is a member of China Huaneng Group. It represents one of the most significant Chinese investments in Singapore and is expected to further enhance the island's position as a platform for firms to go international.
Leo Yip, chairman, Singapore Economic Development Board, said: "We welcome the opening of Tuas Power's Tembusu Multi-Utilities Complex to enhance the range of third party utilities options as well as competitiveness on Jurong Island.
"With Asia becoming an increasingly important consumer of energy and chemical products, Singapore is well positioned to be a strategic base for Chinese energy and chemical companies seeking to internationalise and access new markets to drive business opportunities."
- CNA/sc
- wong chee tat :)
Wellness Village spa closure: Who'll foot those credit card bills now?
Wellness Village spa closure: Who'll foot those credit card bills now?
By Zul Othman, TODAY | Posted: 12 November 2009 0736 hrs
SINGAPORE: Who foots the bill for credit card payments – the bank or cardholders – when a service provider makes a sudden disappearance?
The question is being asked after the shutdown of spa operator Wellness Village, which was reported in TODAY on Tuesday.
One customer was told by a former employee that the spa was still selling packages, some as costly as $10,000, up to the weekend before it closed down.
The four-year-old spa is also believed to have up to 7,000 customers and they are wondering about their credit card liability.
"I'm still paying off my instalment plan I paid with my credit card," said a customer who only wanted to be identified as Ms Tan. "Now that this has happened, will the bank take some liability?"
When contacted, the Association of Banks in Singapore (ABS) said the credit-issuing bank has already paid for the customers' purchases and the amount needs to be settled.
ABS said customers should take their grievances to the spa owner. Credit card holders can choose to pay in full or by instalments at some establishments.
"Regardless, the bank has a contractual obligation to pay the merchant in full once the charge slip is signed," UOB regional and Singapore head for cards and payment products Gan Ai Im also told MediaCorp.
"The card member, on the other hand, is obliged to make full settlement of all charges incurred on the card to the bank."
Wellness Village customers can call their card-issuing banks, however, to investigate or dispute the charges.
Said Citi Singapore vice-president of corporate affairs Caren Lee: "We understand the concerns of the customers and empathise with them in this situation."
"To support the investigation, the customer will need to provide supporting documents, including the purchase agreement with the merchant."
Consumers Association of Singapore executive director Seah Seng Choon said it has received 138 complaints from former customers since the spa's closure made headlines.
He said the "first thing the consumer needs to do is to file a claim against the business at the Small Claims Tribunal" to obtain an order demanding the business pays whatever amount is awarded.
This applies to firms that are still "live", such as Wellness Village, as indicated by checks with the Accounting and Corporate Regulatory Authority.
If the amount is not settled, the consumer can make a writ of seizure or other legal action, said Mr Seah. But that could cost more than the amount some customers would forfeit.
Lawyer Doris Chia from David Lim & Partners pointed to another alternative: For customers to "band together" and wind up the company. An official receiver will then look into the accounts and affairs of the company to see if money can be clawed back.
Consumers can also file a police complaint. "If directors of the company continued to trade or accept more payments for packages even though they know there was no chance the company will be able to honour the packages, this ... may render the directors personally liable," said Ms Chia.
- TODAY/so
- wong chee tat :)
By Zul Othman, TODAY | Posted: 12 November 2009 0736 hrs
SINGAPORE: Who foots the bill for credit card payments – the bank or cardholders – when a service provider makes a sudden disappearance?
The question is being asked after the shutdown of spa operator Wellness Village, which was reported in TODAY on Tuesday.
One customer was told by a former employee that the spa was still selling packages, some as costly as $10,000, up to the weekend before it closed down.
The four-year-old spa is also believed to have up to 7,000 customers and they are wondering about their credit card liability.
"I'm still paying off my instalment plan I paid with my credit card," said a customer who only wanted to be identified as Ms Tan. "Now that this has happened, will the bank take some liability?"
When contacted, the Association of Banks in Singapore (ABS) said the credit-issuing bank has already paid for the customers' purchases and the amount needs to be settled.
ABS said customers should take their grievances to the spa owner. Credit card holders can choose to pay in full or by instalments at some establishments.
"Regardless, the bank has a contractual obligation to pay the merchant in full once the charge slip is signed," UOB regional and Singapore head for cards and payment products Gan Ai Im also told MediaCorp.
"The card member, on the other hand, is obliged to make full settlement of all charges incurred on the card to the bank."
Wellness Village customers can call their card-issuing banks, however, to investigate or dispute the charges.
Said Citi Singapore vice-president of corporate affairs Caren Lee: "We understand the concerns of the customers and empathise with them in this situation."
"To support the investigation, the customer will need to provide supporting documents, including the purchase agreement with the merchant."
Consumers Association of Singapore executive director Seah Seng Choon said it has received 138 complaints from former customers since the spa's closure made headlines.
He said the "first thing the consumer needs to do is to file a claim against the business at the Small Claims Tribunal" to obtain an order demanding the business pays whatever amount is awarded.
This applies to firms that are still "live", such as Wellness Village, as indicated by checks with the Accounting and Corporate Regulatory Authority.
If the amount is not settled, the consumer can make a writ of seizure or other legal action, said Mr Seah. But that could cost more than the amount some customers would forfeit.
Lawyer Doris Chia from David Lim & Partners pointed to another alternative: For customers to "band together" and wind up the company. An official receiver will then look into the accounts and affairs of the company to see if money can be clawed back.
Consumers can also file a police complaint. "If directors of the company continued to trade or accept more payments for packages even though they know there was no chance the company will be able to honour the packages, this ... may render the directors personally liable," said Ms Chia.
- TODAY/so
- wong chee tat :)
Record $653,000 for 4-room flat
Jessica Cheam
Fri, Nov 13, 2009
The Straits Times
Record $653,000 for 4-room flat
[Photo: The four-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, is just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block. The price paid by the Indonesian buyer is about 2.5 times the $262,000 the seller and his wife paid a few years ago.]
By Jessica Cheam
A FOUR-ROOM Queenstown HDB flat has sold for $653,000, setting a new record for price per sq ft (psf), amid continuing red-hot demand for resale flats.
The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.
But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.
Fri, Nov 13, 2009
The Straits Times
Record $653,000 for 4-room flat
[Photo: The four-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, is just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block. The price paid by the Indonesian buyer is about 2.5 times the $262,000 the seller and his wife paid a few years ago.]
By Jessica Cheam
A FOUR-ROOM Queenstown HDB flat has sold for $653,000, setting a new record for price per sq ft (psf), amid continuing red-hot demand for resale flats.
The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.
But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.
Record $653,000 for flat
Record $653,000 for flat http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_453576.html
| By Jessica Cheam | ||
 |  | |
Chris Neo (left) and Kelvin Lim (right), seller of the flat Michael Nandakumaran (center), with sold a HDB flat at Blk 48, Strathmore Avenue for a record price of $653k. -- ST PHOTO: DESMOND LIM
A FOUR-ROOM Queenstown HDB flat has sold for $653,000, setting a new record for price per sq ft (psf), amid continuing red-hot demand for resale flats.
The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.
But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.
The four-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.
This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10per cent.
This may be an unusually high price but resale prices have been moving up.
- wong chee tat :)
Reflections
"Seek ye first the kingdom of heaven, and all else shall be added unto you. [Mathew]"
- wong chee tat :)
- wong chee tat :)
Subscribe to:
Posts (Atom)