Thursday, June 30, 2011
62% of office space at Asia Square Tower 1 leased out
62% of office space at Asia Square Tower 1 leased out
By Jonathan Peeris | Posted: 28 June 2011 1837 hrs
SINGAPORE : Asia Square Tower 1, located at Shenton Way, has already leased out 62 per cent of its office space and pre-let more than half of the building.
The developers of the building, MGPA, gave the update after it was awarded its Temporary Occupation Permit (TOP) on June 21.
MGPA said it was awarded the land parcel in September 2007 and construction was completed in less than four years, making it the fastest development of this scale in Singapore to achieve completion within the time frame.
Asia Square Tower 1 comprises close to 1.3 million square feet of Grade A office space across 43 floors.
Among its future tenants are Google, Julius Baer, Lloyd's of London, Marsh & McLennan Companies and Citic Bank.
Its largest tenant, Citibank, will move in this September, with its retail branch operational by November.
Another important element of Asia Square is the food & beverage and retail space which is close to being fully leased out.
The Pure Fitness Centre will be the largest gym and fitness facility in the CBD, taking up 32,300 square feet of space, with the latest in fitness technology and training programmes.
Meanwhile, the fourth quarter of 2013 will see the completion of Asia Square Tower 2, which will add about 800,000 square feet of Grade A office space and a 305-room luxury five-star hotel under the Westin brand.
- CNA/al
- wong chee tat :)
By Jonathan Peeris | Posted: 28 June 2011 1837 hrs
SINGAPORE : Asia Square Tower 1, located at Shenton Way, has already leased out 62 per cent of its office space and pre-let more than half of the building.
The developers of the building, MGPA, gave the update after it was awarded its Temporary Occupation Permit (TOP) on June 21.
MGPA said it was awarded the land parcel in September 2007 and construction was completed in less than four years, making it the fastest development of this scale in Singapore to achieve completion within the time frame.
Asia Square Tower 1 comprises close to 1.3 million square feet of Grade A office space across 43 floors.
Among its future tenants are Google, Julius Baer, Lloyd's of London, Marsh & McLennan Companies and Citic Bank.
Its largest tenant, Citibank, will move in this September, with its retail branch operational by November.
Another important element of Asia Square is the food & beverage and retail space which is close to being fully leased out.
The Pure Fitness Centre will be the largest gym and fitness facility in the CBD, taking up 32,300 square feet of space, with the latest in fitness technology and training programmes.
Meanwhile, the fourth quarter of 2013 will see the completion of Asia Square Tower 2, which will add about 800,000 square feet of Grade A office space and a 305-room luxury five-star hotel under the Westin brand.
- CNA/al
- wong chee tat :)
HDB to launch tender for Punggol Field Walk residential site
HDB to launch tender for Punggol Field Walk residential site
By Jonathan Peeris | Posted: 28 June 2011 2141 hrs
SINGAPORE : The Housing and Development Board (HDB) will launch the tender for a residential site at Punggol Field Walk on Wednesday.
Slated for condominium development, the site can potentially yield 550 dwelling units.
It's being released for tender under the Confirmed List of the First Half 2011 Government Land Sales Programme.
Located near Sungei Serangoon, residents will enjoy convenient access within Punggol and around Singapore via the Coral Edge LRT Station which is next to the site.
The land parcel has a site area of over 14,000 square metres, with a maximum gross floor area of over 48,000 square metres.
The site has a lease term of 99 years and the tender will close at 12 noon on September 1.
In a statement, HDB cautions potential residential property buyers to bear in mind the strong supply in the pipeline when making their purchasing decisions.
As of the first quarter, 68,890 private residential units are in the pipeline, comprising supply from projects that were already under construction and those that had been granted planning approval but were not under construction yet.
And 34,270 of these were still unsold as at the end of Q1.
In addition to the supply of private residential units, there are also 4,220 executive condominium (EC) units in the pipeline as at the first quarter.
- CNA /ls
- wong chee tat :)
By Jonathan Peeris | Posted: 28 June 2011 2141 hrs
SINGAPORE : The Housing and Development Board (HDB) will launch the tender for a residential site at Punggol Field Walk on Wednesday.
Slated for condominium development, the site can potentially yield 550 dwelling units.
It's being released for tender under the Confirmed List of the First Half 2011 Government Land Sales Programme.
Located near Sungei Serangoon, residents will enjoy convenient access within Punggol and around Singapore via the Coral Edge LRT Station which is next to the site.
The land parcel has a site area of over 14,000 square metres, with a maximum gross floor area of over 48,000 square metres.
The site has a lease term of 99 years and the tender will close at 12 noon on September 1.
In a statement, HDB cautions potential residential property buyers to bear in mind the strong supply in the pipeline when making their purchasing decisions.
As of the first quarter, 68,890 private residential units are in the pipeline, comprising supply from projects that were already under construction and those that had been granted planning approval but were not under construction yet.
And 34,270 of these were still unsold as at the end of Q1.
In addition to the supply of private residential units, there are also 4,220 executive condominium (EC) units in the pipeline as at the first quarter.
- CNA /ls
- wong chee tat :)
Non-landed private home prices up 2.5% in May
Non-landed private home prices up 2.5% in May
By Jonathan Peeris | Posted: 28 June 2011 2208 hrs
SINGAPORE : Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April.
The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before.
NUS's price index for properties in the central area jumped 3.5 per cent in May, while non-central properties showed a 1.7 per cent increase. These compared with March's rise of 1.0 per cent and 1.2 per cent respectively.
The SRPI is a transactions-based index that tracks the month-on-month price movements of private, non-landed residential properties in Singapore.
Compiled by the NUS Institute of Real Estate Studies, the index covers completed non-landed properties in the central and non-central regions.
- CNA/al
- wong chee tat :)
By Jonathan Peeris | Posted: 28 June 2011 2208 hrs
SINGAPORE : Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April.
The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before.
NUS's price index for properties in the central area jumped 3.5 per cent in May, while non-central properties showed a 1.7 per cent increase. These compared with March's rise of 1.0 per cent and 1.2 per cent respectively.
The SRPI is a transactions-based index that tracks the month-on-month price movements of private, non-landed residential properties in Singapore.
Compiled by the NUS Institute of Real Estate Studies, the index covers completed non-landed properties in the central and non-central regions.
- CNA/al
- wong chee tat :)
Tougher capital rules for Singapore banks
Tougher capital rules for Singapore banks
By Rachel Kelly | Posted: 28 June 2011 2217 hrs
SINGAPORE: The Monetary Authority of Singapore (MAS) has announced tougher capital rules for Singapore banks, setting the revisions at higher levels than those rolled out for Basel III.
Basel III is the new global regulatory standard on bank capital adequacy and liquidity agreed by the members of the Basel Committee on Banking Supervision following the global financial crisis.
In a statement, MAS said Singapore incorporated banks were well capitalised and in a strong position to meet the new requirements.
United Overseas Bank (UOB), DBS, OCBC Bank, and Citi Singapore fall under the new rules to be implemented by the MAS.
Explaining the move, Minister for Trade and Industry and Deputy chairman of MAS Lim Hng Kiang said that each of the local banks was systematically important to Singapore, as together they accounted for more than half of the total non-bank resident deposits and loans in Singapore.
As such, higher capital levels are required to strengthen the banks' ability to absorb unexpected losses effectively in a crisis.
"Capital requirements that are significantly above Basel III will not result in a large reduction in economic output, but would be beneficial in reducing the likelihood and cost of a crisis," said Mr Lim at the 38th Association of Banks in Singapore (ABS) annual dinner.
In deciding on the levels appropriate for Singapore, MAS carefully weighed the costs of additional capital against the benefits, he said.
Banks that are well-capitalised, prudently regulated, and located in stable financial centres such as Singapore, present an attractive value proposition to depositors and investors.
Holding systemically-important banks to a higher solvency standard reduces both the likelihood of failure and impact to the real economy if one of them runs into difficulties.
Under the global minimum standards of Basel III, banks are required to increase their capital to buffer against unexpected losses.
Singapore has set its requirements for capital adequacy requirements (CAR) two percentage points higher than what is required by Basel III.
MAS will require Singapore-incorporated banks to meet a minimum Common Equity Tier-1 (CET1) capital adequacy ratio (CAR) of 6.5%.
Meanwhile, Tier-1 capital adequacy requirement will be increased from 6% to 8%.
The total capital adequacy requirement (Total CAR) will remain unchanged at 10% from 1 January 2015.
These standards are higher than the Basel III minimum requirements of 4.5%, 6% and 8% for CET1 CAR, Tier-1 CAR and Total CAR, respectively.
Singapore banks are believed to have already met Basel III standards. As such, MAS is targeting that banks officially meet Basel III requirements by 2013, two years ahead of the international standard.
And MAS wants the banks to meet its higher minimum requirements by 2015.
In line with Basel III requirements, MAS will introduce a capital conservation buffer of 2.5% above the minimum capital adequacy requirement. MAS says this will be met fully with CET1 capital and phased in on 1 January each year, from 2016 to 2019.
Mr Lim said: "The impact on banks' capital structures will be manageable. This is, in part, due to the already high internal capital buffers held by the banks and also due to the transition arrangements that will apply."
So far Singapore seems to be ahead of the pack in terms of capital requirements compared to the Basel III global standards. Switzerland, the UK and China have introduced rules, at levels similar to Basel III.
- CNA/ir
- wong chee tat :)
By Rachel Kelly | Posted: 28 June 2011 2217 hrs
SINGAPORE: The Monetary Authority of Singapore (MAS) has announced tougher capital rules for Singapore banks, setting the revisions at higher levels than those rolled out for Basel III.
Basel III is the new global regulatory standard on bank capital adequacy and liquidity agreed by the members of the Basel Committee on Banking Supervision following the global financial crisis.
In a statement, MAS said Singapore incorporated banks were well capitalised and in a strong position to meet the new requirements.
United Overseas Bank (UOB), DBS, OCBC Bank, and Citi Singapore fall under the new rules to be implemented by the MAS.
Explaining the move, Minister for Trade and Industry and Deputy chairman of MAS Lim Hng Kiang said that each of the local banks was systematically important to Singapore, as together they accounted for more than half of the total non-bank resident deposits and loans in Singapore.
As such, higher capital levels are required to strengthen the banks' ability to absorb unexpected losses effectively in a crisis.
"Capital requirements that are significantly above Basel III will not result in a large reduction in economic output, but would be beneficial in reducing the likelihood and cost of a crisis," said Mr Lim at the 38th Association of Banks in Singapore (ABS) annual dinner.
In deciding on the levels appropriate for Singapore, MAS carefully weighed the costs of additional capital against the benefits, he said.
Banks that are well-capitalised, prudently regulated, and located in stable financial centres such as Singapore, present an attractive value proposition to depositors and investors.
Holding systemically-important banks to a higher solvency standard reduces both the likelihood of failure and impact to the real economy if one of them runs into difficulties.
Under the global minimum standards of Basel III, banks are required to increase their capital to buffer against unexpected losses.
Singapore has set its requirements for capital adequacy requirements (CAR) two percentage points higher than what is required by Basel III.
MAS will require Singapore-incorporated banks to meet a minimum Common Equity Tier-1 (CET1) capital adequacy ratio (CAR) of 6.5%.
Meanwhile, Tier-1 capital adequacy requirement will be increased from 6% to 8%.
The total capital adequacy requirement (Total CAR) will remain unchanged at 10% from 1 January 2015.
These standards are higher than the Basel III minimum requirements of 4.5%, 6% and 8% for CET1 CAR, Tier-1 CAR and Total CAR, respectively.
Singapore banks are believed to have already met Basel III standards. As such, MAS is targeting that banks officially meet Basel III requirements by 2013, two years ahead of the international standard.
And MAS wants the banks to meet its higher minimum requirements by 2015.
In line with Basel III requirements, MAS will introduce a capital conservation buffer of 2.5% above the minimum capital adequacy requirement. MAS says this will be met fully with CET1 capital and phased in on 1 January each year, from 2016 to 2019.
Mr Lim said: "The impact on banks' capital structures will be manageable. This is, in part, due to the already high internal capital buffers held by the banks and also due to the transition arrangements that will apply."
So far Singapore seems to be ahead of the pack in terms of capital requirements compared to the Basel III global standards. Switzerland, the UK and China have introduced rules, at levels similar to Basel III.
- CNA/ir
- wong chee tat :)
Singapore banks confident of meeting new capital rules
Singapore banks confident of meeting new capital rules
By Millet Enriquez | Posted: 28 June 2011 2301 hrs
SINGAPORE : Singapore banks are confident that they will be more than ready to meet the new requirements set out by the central bank by 2013.
This is because most of them already have strong capital positions post the Asian financial Crisis in 1997.
Thus, the new capital requirement will not pose much fundamental adjustments for the banks.
DBS, UOB and OCBC have all welcomed the move, which is expected to boost Singapore's position as a global financial hub.
The Monetary Authority of Singapore (MAS) announced on Tuesday tougher capital rules for Singapore banks, setting the revisions at a higher level than those rolled out for Basel III.
"Well, the truth is that most of the Singapore banks already have high levels of capital post the 97-98 crisis. Capital adequacy in Singapore has been very robust and the central bank has been very prudent in encouraging banks to be well-capitalised," said Piyush Gupta, DBS' CEO and incoming chairman of the Association of Banks in Singapore.
"Therefore, the new capital requirement would not require too much fundamental action on the part of the banks over the next two or three years. So I really don't see a profound shift in the market, either from a capital or a liquidity standpoint in the short-term," he added.
Mr Gupta was speaking at the sidelines of the annual dinner by the Association of Banks in Singapore.
OCBC said its capital levels under Basel III rules are already higher than MAS' revised requirements and ahead of the 2019 timeline.
In a statement, OCBC CEO David Conner said: "We expect to be able to meet MAS' revised CAR (Capital Adequacy Ratios) requirements comfortably without having to raise any additional equity, undertake any rights issue, cut any dividends, or change our strategic plans."
UOB said the changes provide clarity for local banks to implement the Basel III standards.
"The phased approach will help ensure a smooth transition. UOB has consistently placed emphasis on maintaining a strong capital position and we are confident of meeting the new requirements. The revisions are in line with ongoing efforts to strengthen the industry's resilience and to position Singapore as a global financial centre," said Wee Ee Cheong, deputy chairman and CEO of UOB in a statement.
- CNA /ls
- wong chee tat :)
By Millet Enriquez | Posted: 28 June 2011 2301 hrs
SINGAPORE : Singapore banks are confident that they will be more than ready to meet the new requirements set out by the central bank by 2013.
This is because most of them already have strong capital positions post the Asian financial Crisis in 1997.
Thus, the new capital requirement will not pose much fundamental adjustments for the banks.
DBS, UOB and OCBC have all welcomed the move, which is expected to boost Singapore's position as a global financial hub.
The Monetary Authority of Singapore (MAS) announced on Tuesday tougher capital rules for Singapore banks, setting the revisions at a higher level than those rolled out for Basel III.
"Well, the truth is that most of the Singapore banks already have high levels of capital post the 97-98 crisis. Capital adequacy in Singapore has been very robust and the central bank has been very prudent in encouraging banks to be well-capitalised," said Piyush Gupta, DBS' CEO and incoming chairman of the Association of Banks in Singapore.
"Therefore, the new capital requirement would not require too much fundamental action on the part of the banks over the next two or three years. So I really don't see a profound shift in the market, either from a capital or a liquidity standpoint in the short-term," he added.
Mr Gupta was speaking at the sidelines of the annual dinner by the Association of Banks in Singapore.
OCBC said its capital levels under Basel III rules are already higher than MAS' revised requirements and ahead of the 2019 timeline.
In a statement, OCBC CEO David Conner said: "We expect to be able to meet MAS' revised CAR (Capital Adequacy Ratios) requirements comfortably without having to raise any additional equity, undertake any rights issue, cut any dividends, or change our strategic plans."
UOB said the changes provide clarity for local banks to implement the Basel III standards.
"The phased approach will help ensure a smooth transition. UOB has consistently placed emphasis on maintaining a strong capital position and we are confident of meeting the new requirements. The revisions are in line with ongoing efforts to strengthen the industry's resilience and to position Singapore as a global financial centre," said Wee Ee Cheong, deputy chairman and CEO of UOB in a statement.
- CNA /ls
- wong chee tat :)
Local banks face risk exposure to home loans
Local banks face risk exposure to home loans
By Lois Calderon | Posted: 28 June 2011 2317 hrs
SINGAPORE : Home loans have been a major driver of the lending business for the three local banks, but they could also be a drag in the event of a downturn in the property market, according to global debt watcher Fitch Ratings.
Fitch Ratings estimates that home mortgages and construction-related loans account for 50 per cent, or half, of the three local banks' total loan books.
The latest figures from the Monetary Authority of Singapore showed that housing loans rose 22 per cent year-on-year to S$118 billion in April.
That is about a third of all bank lending here.
As a result, local banks may face stress if the property market starts to soften, as this may cause their balance sheets to take a hit.
Alfred Chan, director for financial institutions, Fitch Ratings, said: "Fifty per cent of Singapore bank loans are to the property sector in the form of home loans and construction loans.
"So in the event that prices were to moderate, given that prices are fairly high at where they are now, that could have an impact on the quality of those loans."
Fitch, however, points out that the government's move to cool the property market should help reduce that risk.
Those cooling measures will ensure that lenders will get to keep in their books only borrowers with good credit quality.
Mr Chan said: "From the top line point of view, it's going to be tighter. But from the risk point of view, the potential for delinquencies also tends to (be lowered). So from a net-net basis, it's generally positive for the banks."
Analysts said the government has already averted a build-up of a property bubble.
However, they added that the fallout from the Eurozone crisis could hit Singapore's property market.
Dr Chua Yang Liang, head of research & consultancy, Jones Lang LaSalle, said: "I don't think there's a bubble forming. It formed earlier on, but it has been held in control, given the policy measures.
"And going forward, I think as long as you keep the price movements stable, transaction volume steady, it should be quite sustainable."
He added: "The risk would largely come from external, downside risks - right now are, I would think, the European issues with the Greek economy, the sovereign risk conditions there that could potentially rock the financial market further. That may impact the property market here."
Other analysts said the risk exposure to home loans could be offset by the strong growth in business loans, which grew 24.3 per cent year-on-year to S$$193 billion in April.
Jones Lang LaSalle expects the rise in housing property prices to slow to a rate of between zero and 1.5 per cent for the rest of the year, or at a full-year average rate of 5 to 6 per cent - a much faster pace than in the first half of the year.
- CNA/al
- wong chee tat :)
By Lois Calderon | Posted: 28 June 2011 2317 hrs
SINGAPORE : Home loans have been a major driver of the lending business for the three local banks, but they could also be a drag in the event of a downturn in the property market, according to global debt watcher Fitch Ratings.
Fitch Ratings estimates that home mortgages and construction-related loans account for 50 per cent, or half, of the three local banks' total loan books.
The latest figures from the Monetary Authority of Singapore showed that housing loans rose 22 per cent year-on-year to S$118 billion in April.
That is about a third of all bank lending here.
As a result, local banks may face stress if the property market starts to soften, as this may cause their balance sheets to take a hit.
Alfred Chan, director for financial institutions, Fitch Ratings, said: "Fifty per cent of Singapore bank loans are to the property sector in the form of home loans and construction loans.
"So in the event that prices were to moderate, given that prices are fairly high at where they are now, that could have an impact on the quality of those loans."
Fitch, however, points out that the government's move to cool the property market should help reduce that risk.
Those cooling measures will ensure that lenders will get to keep in their books only borrowers with good credit quality.
Mr Chan said: "From the top line point of view, it's going to be tighter. But from the risk point of view, the potential for delinquencies also tends to (be lowered). So from a net-net basis, it's generally positive for the banks."
Analysts said the government has already averted a build-up of a property bubble.
However, they added that the fallout from the Eurozone crisis could hit Singapore's property market.
Dr Chua Yang Liang, head of research & consultancy, Jones Lang LaSalle, said: "I don't think there's a bubble forming. It formed earlier on, but it has been held in control, given the policy measures.
"And going forward, I think as long as you keep the price movements stable, transaction volume steady, it should be quite sustainable."
He added: "The risk would largely come from external, downside risks - right now are, I would think, the European issues with the Greek economy, the sovereign risk conditions there that could potentially rock the financial market further. That may impact the property market here."
Other analysts said the risk exposure to home loans could be offset by the strong growth in business loans, which grew 24.3 per cent year-on-year to S$$193 billion in April.
Jones Lang LaSalle expects the rise in housing property prices to slow to a rate of between zero and 1.5 per cent for the rest of the year, or at a full-year average rate of 5 to 6 per cent - a much faster pace than in the first half of the year.
- CNA/al
- wong chee tat :)
River Valley apartment sold en bloc for S$70.5m
River Valley apartment sold en bloc for S$70.5m
By Julie Quek | Posted: 27 June 2011 1931 hrs
SINGAPORE : A 40-unit walk-up apartment at 402-414 River Valley Road has been successfully sold en bloc for S$70.5 million to Alliance Land.
This translates to a land rate of about S$1,139 per square foot per plot ratio, with a gross plot ratio of 2.8 for the 22,000-square foot site.
If the 10 per cent gross floor area for balconies is included, it will work out to S$1,035 per square foot per plot ratio, at a gross plot ratio (GPR) of 3.08.
According to marketing agent, Credo Real Estate, a new development built on the site can potentially yield an estimated 130 apartment units, averaging 500 square feet each, depending on layout and configuration.
Credo said the project is suitable for a boutique development with small apartment units, which will be popular with both local and foreign professionals and investors.
Owners of the district 10 property stand to receive gross sale proceeds ranging between S$1.75 million and $1.77 million each.
The sale is subject to the approval of the Strata Titles Board.
The site has a total gross floor area of about 68,000 square feet, including the 10 per cent gross floor area for balconies.
The existing development is understood to have been built in the early 1960s, making it part of the first generation of flat developments built in the post-colonial era of Singapore's history.
Tenure for the site is rather unique - at 999,999 years with effect from 1962.
- CNA/al
- wong chee tat :)
By Julie Quek | Posted: 27 June 2011 1931 hrs
SINGAPORE : A 40-unit walk-up apartment at 402-414 River Valley Road has been successfully sold en bloc for S$70.5 million to Alliance Land.
This translates to a land rate of about S$1,139 per square foot per plot ratio, with a gross plot ratio of 2.8 for the 22,000-square foot site.
If the 10 per cent gross floor area for balconies is included, it will work out to S$1,035 per square foot per plot ratio, at a gross plot ratio (GPR) of 3.08.
According to marketing agent, Credo Real Estate, a new development built on the site can potentially yield an estimated 130 apartment units, averaging 500 square feet each, depending on layout and configuration.
Credo said the project is suitable for a boutique development with small apartment units, which will be popular with both local and foreign professionals and investors.
Owners of the district 10 property stand to receive gross sale proceeds ranging between S$1.75 million and $1.77 million each.
The sale is subject to the approval of the Strata Titles Board.
The site has a total gross floor area of about 68,000 square feet, including the 10 per cent gross floor area for balconies.
The existing development is understood to have been built in the early 1960s, making it part of the first generation of flat developments built in the post-colonial era of Singapore's history.
Tenure for the site is rather unique - at 999,999 years with effect from 1962.
- CNA/al
- wong chee tat :)
Collective sales market to remain healthy: Credo
Collective sales market to remain healthy: Credo
By Mustafa Shafawi | Posted: 27 June 2011 2010 hrs
SINGAPORE : Some S$1.7 billion in collective sales have been transacted so far this year.
According to property consultant Credo Real Estate, the figure is almost the same as the collective sales transacted last year.
It noted that successful deals over the past 18 months have been relatively small.
And the buyers are mainly small to medium-sized developers who are unable to bid for the larger government residential sites.
One of the latest transactions is a 40-unit walk-up apartment development on River Valley Road, which fetched S$70.5 million in a successful enbloc sale to Alliance Land.
Credo's managing director, Karamjit Singh, said each of the top five deals ranged from S$137 million to S$214 million.
In 2007, the top five deals were worth over half a billion dollars each, and some S$11.4 billion in collective sales were transacted then.
Mr Singh said: "The outlook for the collective sales market for the rest of 2011 is positive.
"Owners are becoming more realistic on reserve prices and there is sustained interest from developers."
Meanwhile, properties up for en bloc at the moment include an industrial building at Alexandra Terrace, with an indicative guide price of S$21.8 million.
Residential sites up for sale include St Patrick's Garden and Royalville.
- CNA/al
- wong chee tat :)
By Mustafa Shafawi | Posted: 27 June 2011 2010 hrs
SINGAPORE : Some S$1.7 billion in collective sales have been transacted so far this year.
According to property consultant Credo Real Estate, the figure is almost the same as the collective sales transacted last year.
It noted that successful deals over the past 18 months have been relatively small.
And the buyers are mainly small to medium-sized developers who are unable to bid for the larger government residential sites.
One of the latest transactions is a 40-unit walk-up apartment development on River Valley Road, which fetched S$70.5 million in a successful enbloc sale to Alliance Land.
Credo's managing director, Karamjit Singh, said each of the top five deals ranged from S$137 million to S$214 million.
In 2007, the top five deals were worth over half a billion dollars each, and some S$11.4 billion in collective sales were transacted then.
Mr Singh said: "The outlook for the collective sales market for the rest of 2011 is positive.
"Owners are becoming more realistic on reserve prices and there is sustained interest from developers."
Meanwhile, properties up for en bloc at the moment include an industrial building at Alexandra Terrace, with an indicative guide price of S$21.8 million.
Residential sites up for sale include St Patrick's Garden and Royalville.
- CNA/al
- wong chee tat :)
Shoe-box units 'hard to sell off'
Shoe-box units 'hard to sell off'
By Liang Kaixin | Posted: 27 June 2011 2104 hrs
SINGAPORE: Analysts have said buyers of shoe-box apartments may have difficulties selling them in future, even though their current rental returns of about five per cent make such apartments popular with small-time investors.
Although they are small in size, they are priced at about S$600,000.
Analysts added that at this price, buyers are still able to afford them.
In one of his recent blog posts, National Development Minister Khaw Boon Wan urged buyers to consider the risks and returns when buying shoe-box apartments.
Analysts said more shoe-box apartments will be built by 2013, possibly leading to a glut.
They said the main attraction of such apartments is their prime location, including proximity to town areas and MRT stations.
If these apartments sprout in less-than-ideal locations, it may be harder for investors to sell them off later.
Analysts Channel NewsAsia spoke to pointed out if the per-square-foot (psf) value of the apartment is already high, investors might find it harder to sell it off at a good profit.
But some buyers - such as retiree Linda Teo - are still optimistic about the profits they can reap.
Madam Teo and her husband bought a shoe-box apartment near the Farrer Park MRT station about two-and-a-half years ago.
At about 581 square feet, her apartment is smaller than a three-room flat.
She said despite having only just received keys to her unit, she already has people offering to buy it from her at 20 per cent more than her purchase price.
But Madam Teo said she intends to keep it as an investment.
"I think if I keep the money in the bank, the interest is quite low, I'd rather put it in a property for my children, for their future," she said.
"Currently, the rental for this project is about S$3,000 to S$3,500 per month. There have already been a lot of interested tenants who have come to view the place. I think it shouldn't be a problem.
"My view is, at this moment, we do have a lot of buyers who have approached us, who want to buy this project.
"Even two to three years down the road, if the demand is not there, we'll decide to keep this for the children, so I don't see this as a problem."
-CNA/wk
- wong chee tat :)
By Liang Kaixin | Posted: 27 June 2011 2104 hrs
SINGAPORE: Analysts have said buyers of shoe-box apartments may have difficulties selling them in future, even though their current rental returns of about five per cent make such apartments popular with small-time investors.
Although they are small in size, they are priced at about S$600,000.
Analysts added that at this price, buyers are still able to afford them.
In one of his recent blog posts, National Development Minister Khaw Boon Wan urged buyers to consider the risks and returns when buying shoe-box apartments.
Analysts said more shoe-box apartments will be built by 2013, possibly leading to a glut.
They said the main attraction of such apartments is their prime location, including proximity to town areas and MRT stations.
If these apartments sprout in less-than-ideal locations, it may be harder for investors to sell them off later.
Analysts Channel NewsAsia spoke to pointed out if the per-square-foot (psf) value of the apartment is already high, investors might find it harder to sell it off at a good profit.
But some buyers - such as retiree Linda Teo - are still optimistic about the profits they can reap.
Madam Teo and her husband bought a shoe-box apartment near the Farrer Park MRT station about two-and-a-half years ago.
At about 581 square feet, her apartment is smaller than a three-room flat.
She said despite having only just received keys to her unit, she already has people offering to buy it from her at 20 per cent more than her purchase price.
But Madam Teo said she intends to keep it as an investment.
"I think if I keep the money in the bank, the interest is quite low, I'd rather put it in a property for my children, for their future," she said.
"Currently, the rental for this project is about S$3,000 to S$3,500 per month. There have already been a lot of interested tenants who have come to view the place. I think it shouldn't be a problem.
"My view is, at this moment, we do have a lot of buyers who have approached us, who want to buy this project.
"Even two to three years down the road, if the demand is not there, we'll decide to keep this for the children, so I don't see this as a problem."
-CNA/wk
- wong chee tat :)
Good branding, good sales
Good branding, good sales
By Nurul Syuhaida | Posted: 27 June 2011 2239 hrs
SINGAPORE: A strong corporate brand can boost sales and lead to higher revenue growth.
That is according to a recent study which showed that about 80 per cent of companies with a branding campaign achieve consistently higher incomes, compared to firms that don't have a branding strategy.
The study by consulting firm StrategiCom surveyed the branding initiatives of about 100 companies listed on Singapore Exchange (SGX).
Companies that engage holistic branding that include internal communications, relationship management, and market communications have recorded a higher average annual revenue growth rate from financial year 2006 to 2009.
Most companies are still holding back from spending big bucks on branding, but experts at a branding seminar held Monday urged companies to "think big" and stressed on how vital it is for companies to build their brands to capture a bigger market share.
The seminar, 'Create Your Brand Legacy', was organised by The Association of Small and Medium Enterprises (ASME).
Some 200 participants attended the seminar held in conjunction with the Singapore Prestige Brand Award 2011.
A study by StrategiCom showed that about 80 per cent of listed firms had benefited with consistently higher revenues over a three-year period, after undergoing a holistic branding approach.
It also highlighted that the positive impact on branding strategies is not limited only to listed companies but will benefit small and medium enterprises (SMEs) as well.
But industry players said one of the biggest challenges companies face is a consistent brand message.
EpiCentre Holdings Limited executive chairman & CEO Jimmy Fong said: "The challenges involve how to communicate our brand to our employees, our stakeholders, and to the rest of the customers - why they should trust our brand, why they should continue to buy from us again and again".
Experts said good brands are built on a two-way relationship.
Customers engage with brands and vice-versa, so branding needs to be emotionally connecting and interact on a personal level with customers.
Adam Khoo Learning Technologies Group co-founder & executive chairman Adam Khoo said: "Dare to invest in branding.
"I think a lot of people always think that advertisement is only for established, big companies.
"But unless you first think like a big company when you're small, you never become a big company.
"So even if you are 'one man show', think about how you brand yourself in terms of not just your media but as well as the way you interact with your customers".
Almost half, or 49 per cent, of the companies that participated in the study are engaged in all three areas of corporate branding.
These are internal communications, relationship management and market communications.
The most practised area of corporate branding is internal communications with 81per cent of the companies who participated in the study applying the approach.
-CNA/wk
- wong chee tat :)
By Nurul Syuhaida | Posted: 27 June 2011 2239 hrs
SINGAPORE: A strong corporate brand can boost sales and lead to higher revenue growth.
That is according to a recent study which showed that about 80 per cent of companies with a branding campaign achieve consistently higher incomes, compared to firms that don't have a branding strategy.
The study by consulting firm StrategiCom surveyed the branding initiatives of about 100 companies listed on Singapore Exchange (SGX).
Companies that engage holistic branding that include internal communications, relationship management, and market communications have recorded a higher average annual revenue growth rate from financial year 2006 to 2009.
Most companies are still holding back from spending big bucks on branding, but experts at a branding seminar held Monday urged companies to "think big" and stressed on how vital it is for companies to build their brands to capture a bigger market share.
The seminar, 'Create Your Brand Legacy', was organised by The Association of Small and Medium Enterprises (ASME).
Some 200 participants attended the seminar held in conjunction with the Singapore Prestige Brand Award 2011.
A study by StrategiCom showed that about 80 per cent of listed firms had benefited with consistently higher revenues over a three-year period, after undergoing a holistic branding approach.
It also highlighted that the positive impact on branding strategies is not limited only to listed companies but will benefit small and medium enterprises (SMEs) as well.
But industry players said one of the biggest challenges companies face is a consistent brand message.
EpiCentre Holdings Limited executive chairman & CEO Jimmy Fong said: "The challenges involve how to communicate our brand to our employees, our stakeholders, and to the rest of the customers - why they should trust our brand, why they should continue to buy from us again and again".
Experts said good brands are built on a two-way relationship.
Customers engage with brands and vice-versa, so branding needs to be emotionally connecting and interact on a personal level with customers.
Adam Khoo Learning Technologies Group co-founder & executive chairman Adam Khoo said: "Dare to invest in branding.
"I think a lot of people always think that advertisement is only for established, big companies.
"But unless you first think like a big company when you're small, you never become a big company.
"So even if you are 'one man show', think about how you brand yourself in terms of not just your media but as well as the way you interact with your customers".
Almost half, or 49 per cent, of the companies that participated in the study are engaged in all three areas of corporate branding.
These are internal communications, relationship management and market communications.
The most practised area of corporate branding is internal communications with 81per cent of the companies who participated in the study applying the approach.
-CNA/wk
- wong chee tat :)
Temasek, Khazanah to develop prime land parcels
Temasek, Khazanah to develop prime land parcels
By Maria Lois | Posted: 27 June 2011 2352 hrs
SINGAPORE: Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion.
The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose.
Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent stake.
M+S will develop four land parcels in Marina South and two land parcels in Ophir Rochor, each as an integrated development.
The land parcels would be developed into mixed-use properties that will include office, residential, hotel and retail components with a combined permitted gross floor area of up to 501,020 square metres (sqm).
The project is valued at S$11 billion.
Khazanah's subsidiary UEM Land Holdings and a subsidiary of Mapletree Investments, a Temasek portfolio company, have been appointed to oversee the marketing and development of the project at Marina South.
At the same time, a subsidiary of CapitaLand(another Temasek portfolio company) and UEM Land have been appointed to oversee the marketing and development of the Ophir-Rochor site.
Meanwhile Pulau Indah, a 50:50 joint venture between Khazanah and Temasek, will develop projects in Iskandar Malaysia in Johor.
Two sites, one in Medini North and the other at the Heritage Cluster in Medini Central, have been confirmed.
Pulau Indah intends to develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites.
The Iskandar Malaysia project is valued at about S$1.2 billion (3 billion ringgit) and will cover a vast 1.36-million sqm land.
Planning and design works on the projects began on the first quarter of this year.
In a separate statement, CapitaLand said that it has appointed its chief operating officer Mr Lim Ming Yan to lead several key projects for the Ophir-Rochor site.
It added that the Ophir-Rochor site is located between the Kampong Glam Historical District and the Beach Road Conservation Area.
The site also enjoys excellent connectivity with the existing Bugis MRT Station and the upcoming Downtown Line Bugis MRT Interchange. The total permissible gross floor area for the site is 160,020 sq m.
- CNA/ir
- wong chee tat :)
By Maria Lois | Posted: 27 June 2011 2352 hrs
SINGAPORE: Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion.
The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose.
Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent stake.
M+S will develop four land parcels in Marina South and two land parcels in Ophir Rochor, each as an integrated development.
The land parcels would be developed into mixed-use properties that will include office, residential, hotel and retail components with a combined permitted gross floor area of up to 501,020 square metres (sqm).
The project is valued at S$11 billion.
Khazanah's subsidiary UEM Land Holdings and a subsidiary of Mapletree Investments, a Temasek portfolio company, have been appointed to oversee the marketing and development of the project at Marina South.
At the same time, a subsidiary of CapitaLand(another Temasek portfolio company) and UEM Land have been appointed to oversee the marketing and development of the Ophir-Rochor site.
Meanwhile Pulau Indah, a 50:50 joint venture between Khazanah and Temasek, will develop projects in Iskandar Malaysia in Johor.
Two sites, one in Medini North and the other at the Heritage Cluster in Medini Central, have been confirmed.
Pulau Indah intends to develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites.
The Iskandar Malaysia project is valued at about S$1.2 billion (3 billion ringgit) and will cover a vast 1.36-million sqm land.
Planning and design works on the projects began on the first quarter of this year.
In a separate statement, CapitaLand said that it has appointed its chief operating officer Mr Lim Ming Yan to lead several key projects for the Ophir-Rochor site.
It added that the Ophir-Rochor site is located between the Kampong Glam Historical District and the Beach Road Conservation Area.
The site also enjoys excellent connectivity with the existing Bugis MRT Station and the upcoming Downtown Line Bugis MRT Interchange. The total permissible gross floor area for the site is 160,020 sq m.
- CNA/ir
- wong chee tat :)
Wednesday, June 29, 2011
Tuesday, June 28, 2011
Monday, June 27, 2011
Finance staff to get more training
Finance staff to get more training
By Jo-ann Huang | Posted: 22 June 2011 2324 hrs
SINGAPORE: The Institute of Banking and Finance (IBF) said it wants to increase the competency levels of finance professionals.
The IBF is the national accreditation agency for financial competency.
IBF said competency levels in risk management, corporate governance and financial supervision need improvement.
As a result, IBF and the Monetary Authority of Singapore will introduce more exams and training modules for finance professionals by this year.
One exam is the new Client Advisor Competency Standards assessment for private banking, which should debut in September.
New training modules for relationship managers who sell structured products should be introduced in the third quarter of this year.
IBF council chairman Ravi Menon said: "Singapore's financial sector headcount is expected to grow by five to six per cent this year.
"This translates to at least 6,000 to 7,000 new jobs for the financial industry annually.
"We should come together to invest in adding to the talent pool here, and avoid unproductive poaching from within the industry".
-CNA/wk
- wong chee tat :)
By Jo-ann Huang | Posted: 22 June 2011 2324 hrs
SINGAPORE: The Institute of Banking and Finance (IBF) said it wants to increase the competency levels of finance professionals.
The IBF is the national accreditation agency for financial competency.
IBF said competency levels in risk management, corporate governance and financial supervision need improvement.
As a result, IBF and the Monetary Authority of Singapore will introduce more exams and training modules for finance professionals by this year.
One exam is the new Client Advisor Competency Standards assessment for private banking, which should debut in September.
New training modules for relationship managers who sell structured products should be introduced in the third quarter of this year.
IBF council chairman Ravi Menon said: "Singapore's financial sector headcount is expected to grow by five to six per cent this year.
"This translates to at least 6,000 to 7,000 new jobs for the financial industry annually.
"We should come together to invest in adding to the talent pool here, and avoid unproductive poaching from within the industry".
-CNA/wk
- wong chee tat :)
Car prices set to soar
Car prices set to soar
By Wayne Chan | Posted: 26 June 2011 2159 hrs
SINGAPORE: The continued rise in the premiums for the certificates of entitlement (COE) over the past year has affected the car market, and with the expected tightening of COE quotas in the next quarter, dealers say prices may even go up further.
Car dealers Channel NewsAsia spoke with said several factors are behind the continued rise of COE prices.
Chief among them is a change in the COE quota system last year, where a new formula allows authorities to better manage the growth of the vehicle population, by removing yearly fluctuations in supply.
Under the new methodology, the Land Transport Authority (LTA) recycles the COE quota from the actual vehicle de-registrations in the most recent six-month period back into the system.
LTA said the scheme eliminates the need to make any corrections due to any under- or over-estimation.
Meanwhile, the entry of taxi companies and continental cars to the small car category is likely to drive COE prices higher.
Komoco Motors sales consultant Alvin Lim said: "Quite a lot of the taxi operators... have to come in and get the COE as well in order to put the taxi on the road.
"So for this reason, they actually have to... as high as possible in order to secure the COE."
Dealers said the higher prices are definitely driving customers away, with some turning to second-hand cars.
Singapore Vehicle Traders Association honorary secretary Raymond Tang said: "Singaporeans are considering going to the used car market... because the price (difference is quite big)".
If the rise in COE premiums continues, dealers said smaller distributors who cannot afford to bid high will be driven out of the market.
-CNA/wk
- wong chee tat :)
By Wayne Chan | Posted: 26 June 2011 2159 hrs
SINGAPORE: The continued rise in the premiums for the certificates of entitlement (COE) over the past year has affected the car market, and with the expected tightening of COE quotas in the next quarter, dealers say prices may even go up further.
Car dealers Channel NewsAsia spoke with said several factors are behind the continued rise of COE prices.
Chief among them is a change in the COE quota system last year, where a new formula allows authorities to better manage the growth of the vehicle population, by removing yearly fluctuations in supply.
Under the new methodology, the Land Transport Authority (LTA) recycles the COE quota from the actual vehicle de-registrations in the most recent six-month period back into the system.
LTA said the scheme eliminates the need to make any corrections due to any under- or over-estimation.
Meanwhile, the entry of taxi companies and continental cars to the small car category is likely to drive COE prices higher.
Komoco Motors sales consultant Alvin Lim said: "Quite a lot of the taxi operators... have to come in and get the COE as well in order to put the taxi on the road.
"So for this reason, they actually have to... as high as possible in order to secure the COE."
Dealers said the higher prices are definitely driving customers away, with some turning to second-hand cars.
Singapore Vehicle Traders Association honorary secretary Raymond Tang said: "Singaporeans are considering going to the used car market... because the price (difference is quite big)".
If the rise in COE premiums continues, dealers said smaller distributors who cannot afford to bid high will be driven out of the market.
-CNA/wk
- wong chee tat :)
HDB to combine BTO launches for June, July
HDB to combine BTO launches for June, July
By Alvina Soh | Posted: 25 June 2011 1729 hrs
SINGAPORE: The Housing and Development Board (HDB) will combine the Build-to-Order (BTO) flat launches for June and July, for release in mid-July. National Development Minister Khaw Boon Wan said this in his blog on Saturday.
This came a week after he said he was considering moving away from the current practice of monthly launches of BTO flats and explore ways to have larger combined launches. He had said that larger launches offer buyers a wider range of choices and reduce the odds of repeated disappointment.
In his blog entry on Saturday, Mr Khaw also urged Singaporeans to be patient and allow the changes on housing to work their way through the market.
He said earlier rounds of cooling measures, increased supply of BTO flats, latest BTO launch prices, the state of the economy and loan interest rates will combine to impact the housing market. He said the interactions are complex and do not work entirely in a mechanical way.
He added that there will be fluctuations and short-term volatility, at both volume and price levels.
Meanwhile, the HDB is pressing on with its increased BTO launches to provide affordable options for home buyers, especially the first-timers.
Mr Khaw said his current focus is on public housing, and the HDB is helping to analyse the profile of successful BTO applicants, which he will share when ready.
He said the housing market was "too lively". Last year, for example, about 89,000 units were sold.
Analysts Channel NewsAsia spoke to said they welcome the move to combine the BTO flat launches as it will spread out the number of applicants.
Eugene Lim, Key Executive Officer with ERA Realty Network Pte Ltd, said: "This will be good for the home buyer because there are more varieties. More importantly, it will help spread out the number of applications.
"In the past, HDB usually conducts BTO one project at a time. So home buyers who are unsure of where the next launch is will just jump onto the bandwagon. So sometimes you do get an impression that there actually is a huge backlog but its just because home buyers are unsure and therefore they just apply, [regardless] of whether they actually like the location.
"So this would help spread out the numbers and therefore, reflect a more realistic number of buyers in the market for BTO flats. This would also have the impact of reflecting what is the real demand for BTO flats, and therefore you may not see such high numbers of oversubscription."
Meanwhile, the HDB has analysed the profile of people who bought resale flats last in May.
There were about 2,162 transactions. The demand for all flat types was quite evenly distributed, with four-room flats enjoying an edge. Mr Khaw said this is not surprising as the four-room flat is the most common flat type.
Mr Lim said: "Typically in a resale transaction, four-rooms would form about almost 40 per cent of the flat transactions. This is not surprising because a four-room flat has three bedrooms, its a practical size. Its also not as pricey as a five-room flat, therefore its usually the most popular as far as resale flats are concerned."
The majority of buyers were second-timers, chalking up a third of all transactions. First-time buyers made up a quarter of transactions.
There were clear differences in preference among first- and second-timers. First-timers preferred larger flats, while the second-timers, smaller flats. The next buyer groups were permanent residents (20 per cent), singles (15 per cent) and private property owners (eight per cent), with clear differences in flat type choices.
-CNA/ac
- wong chee tat :)
By Alvina Soh | Posted: 25 June 2011 1729 hrs
SINGAPORE: The Housing and Development Board (HDB) will combine the Build-to-Order (BTO) flat launches for June and July, for release in mid-July. National Development Minister Khaw Boon Wan said this in his blog on Saturday.
This came a week after he said he was considering moving away from the current practice of monthly launches of BTO flats and explore ways to have larger combined launches. He had said that larger launches offer buyers a wider range of choices and reduce the odds of repeated disappointment.
In his blog entry on Saturday, Mr Khaw also urged Singaporeans to be patient and allow the changes on housing to work their way through the market.
He said earlier rounds of cooling measures, increased supply of BTO flats, latest BTO launch prices, the state of the economy and loan interest rates will combine to impact the housing market. He said the interactions are complex and do not work entirely in a mechanical way.
He added that there will be fluctuations and short-term volatility, at both volume and price levels.
Meanwhile, the HDB is pressing on with its increased BTO launches to provide affordable options for home buyers, especially the first-timers.
Mr Khaw said his current focus is on public housing, and the HDB is helping to analyse the profile of successful BTO applicants, which he will share when ready.
He said the housing market was "too lively". Last year, for example, about 89,000 units were sold.
Analysts Channel NewsAsia spoke to said they welcome the move to combine the BTO flat launches as it will spread out the number of applicants.
Eugene Lim, Key Executive Officer with ERA Realty Network Pte Ltd, said: "This will be good for the home buyer because there are more varieties. More importantly, it will help spread out the number of applications.
"In the past, HDB usually conducts BTO one project at a time. So home buyers who are unsure of where the next launch is will just jump onto the bandwagon. So sometimes you do get an impression that there actually is a huge backlog but its just because home buyers are unsure and therefore they just apply, [regardless] of whether they actually like the location.
"So this would help spread out the numbers and therefore, reflect a more realistic number of buyers in the market for BTO flats. This would also have the impact of reflecting what is the real demand for BTO flats, and therefore you may not see such high numbers of oversubscription."
Meanwhile, the HDB has analysed the profile of people who bought resale flats last in May.
There were about 2,162 transactions. The demand for all flat types was quite evenly distributed, with four-room flats enjoying an edge. Mr Khaw said this is not surprising as the four-room flat is the most common flat type.
Mr Lim said: "Typically in a resale transaction, four-rooms would form about almost 40 per cent of the flat transactions. This is not surprising because a four-room flat has three bedrooms, its a practical size. Its also not as pricey as a five-room flat, therefore its usually the most popular as far as resale flats are concerned."
The majority of buyers were second-timers, chalking up a third of all transactions. First-time buyers made up a quarter of transactions.
There were clear differences in preference among first- and second-timers. First-timers preferred larger flats, while the second-timers, smaller flats. The next buyer groups were permanent residents (20 per cent), singles (15 per cent) and private property owners (eight per cent), with clear differences in flat type choices.
-CNA/ac
- wong chee tat :)
ROM and ROMM resume operations at new building
ROM and ROMM resume operations at new building
By Riz Sunawan | Posted: 14 June 2011 1915 hrs
SINGAPORE : The newly-renovated Registry of Marriages (ROM) and Registry of Muslim Marriages (ROMM) resumed operations on Tuesday, and 23 couples solemnised their marriages on the first day.
The first couple to walk through the spanking-new doors at the Registry of Muslim Marriages were 27-year-old Irfan Tan Jun Sheng and his bride, 21-year-old Nurulhuda Jamal.
Their marriage was solemnised just after 9am.
They were solemnised by Deputy Registrar, Nor Razak Bin Bakar, witnessed by close family members and friends.
The solemnisation rooms open into a landscaped garden that blends with the Fort Canning Park. It's to reinforce the "Wedding in the Park" concept.
When renovations were going on, the two Registry of Marriages operated out of a temporary office at Maxwell Road.
The upgraded premise also houses Marriage Central's third resource point which provides marriage-related resources, information and programmes for soon-to-wed and married couples, with the aim to strengthen all marriages.
The new building was renovated at a cost of about S$4.2 million.
- CNA /ls
- wong chee tat :)
By Riz Sunawan | Posted: 14 June 2011 1915 hrs
SINGAPORE : The newly-renovated Registry of Marriages (ROM) and Registry of Muslim Marriages (ROMM) resumed operations on Tuesday, and 23 couples solemnised their marriages on the first day.
The first couple to walk through the spanking-new doors at the Registry of Muslim Marriages were 27-year-old Irfan Tan Jun Sheng and his bride, 21-year-old Nurulhuda Jamal.
Their marriage was solemnised just after 9am.
They were solemnised by Deputy Registrar, Nor Razak Bin Bakar, witnessed by close family members and friends.
The solemnisation rooms open into a landscaped garden that blends with the Fort Canning Park. It's to reinforce the "Wedding in the Park" concept.
When renovations were going on, the two Registry of Marriages operated out of a temporary office at Maxwell Road.
The upgraded premise also houses Marriage Central's third resource point which provides marriage-related resources, information and programmes for soon-to-wed and married couples, with the aim to strengthen all marriages.
The new building was renovated at a cost of about S$4.2 million.
- CNA /ls
- wong chee tat :)
Hitachi Plant Tech to acquire 51% of LEC Asia
Hitachi Plant Tech to acquire 51% of LEC Asia
By Stella Lee | Posted: 14 June 2011 2238 hrs
SINGAPORE : Hitachi Plant Technologies has reached an agreement to acquire at least 51 per cent of the stock of Lightning Eliminators & Consultants (LEC) Asia to accelerate its lightning disaster-prevention business.
The acquisition will enable Hitachi to make full use of the resources of both companies in order to aggressively expand sales activities and increase orders in Southeast Asia, where lightning strikes are common.
LEC Asia holds intellectual property rights and exclusive sales rights for a lightning-protection equipment called Dissipation Array System (DAS) in Southeast Asia.
In addition to DAS, Hitachi Plant Technologies will also propose a comprehensive lightning disaster-prevention system.
This includes lightning disaster consulting services, and protection of machinery from lightning conducted through power sources and communication lines.
DAS has been introduced at more than 200 sites in Japan by Hitachi Plant Technologies.
- CNA/al
- wong chee tat :)
By Stella Lee | Posted: 14 June 2011 2238 hrs
SINGAPORE : Hitachi Plant Technologies has reached an agreement to acquire at least 51 per cent of the stock of Lightning Eliminators & Consultants (LEC) Asia to accelerate its lightning disaster-prevention business.
The acquisition will enable Hitachi to make full use of the resources of both companies in order to aggressively expand sales activities and increase orders in Southeast Asia, where lightning strikes are common.
LEC Asia holds intellectual property rights and exclusive sales rights for a lightning-protection equipment called Dissipation Array System (DAS) in Southeast Asia.
In addition to DAS, Hitachi Plant Technologies will also propose a comprehensive lightning disaster-prevention system.
This includes lightning disaster consulting services, and protection of machinery from lightning conducted through power sources and communication lines.
DAS has been introduced at more than 200 sites in Japan by Hitachi Plant Technologies.
- CNA/al
- wong chee tat :)
Supporting industries booming due to China's soaring private jet market
Supporting industries booming due to China's soaring private jet market
Posted: 14 June 2011 2244 hrs
SINGAPORE : Economic powerhouse China is expected to see a surge in the number of private jets in Asia within the next five years.
But experts said the biggest winner will be the supporting industries such as aircraft chartering and maintenance that will see new growth opportunities.
China, which has over 110 private jets now according to industry data, is expected to overtake Australia & Oceania - the largest now at over 160 private jets.
China's market is booming because its registered private jets are a fraction of the 15,000 jets registered in the US, but the world's second largest economy has 4 times the population of US.
Leithen Francis, Asia editor at Aviation Weekly said: "Unlike the United States where you tend to get an individual or company that's maybe owned business jets for decades, so they trade in their old business jets to get a new jet, what's different about China is that 90 per cent of customers are new to business aviation; they have never operate business jets before."
And secondary industries like aircraft chartering companies are on the rise, as private jet demand grows in the region.
Jet chartering firm Chapman-Freeborn said it has seen new customers from its recently launched aircraft booking application.
"A lot of people are spending their time on phone devices, smartphones and we want to implement the private jets usage into these devices just to convert them into an easy way to travel. People think that booking a jet is not like booking a (airline) seat, that it is difficult. But a charter should be as easy as booking a seat," said Nicolas Chemin, Passenger Charter Manager with Chapman-Freeborn.
Chapman-Freeborn made sales of around US$800 million in 2010, doubling from about US$400 million in 2006.
Overall, experts said Asia is now the rising market while demand in Europe and the US dries up.
As a result, jet management companies here are seeing a boom.
One of China's largest player, Deer Jet, has an estimated fleet size of around 30, up from about 12 jets just three years ago.
Francis said: "Because to be able to operate an aircraft you need to have certain number of personnel, you need to have chief engineer, chief pilot. For a businessman to go out and employ these kinds of people, it's a lot of effort to go through.
"We are talking about individuals who own aircraft, it's just that they get another company to manage the aircraft for them."
Going forward, experts said the maintenance, repair and overhaul (MRO) industry in Singapore will also benefit.
While the country might not have a large number of jet owners, it reportedly accounts for one quarter of Asia Pacific's commercial MRO work.
And with big players like Rolls-Royce and Fokker investing heavily in Singapore, experts expect the MRO business to grow strongly.
- CNA /ls
- wong chee tat :)
Posted: 14 June 2011 2244 hrs
SINGAPORE : Economic powerhouse China is expected to see a surge in the number of private jets in Asia within the next five years.
But experts said the biggest winner will be the supporting industries such as aircraft chartering and maintenance that will see new growth opportunities.
China, which has over 110 private jets now according to industry data, is expected to overtake Australia & Oceania - the largest now at over 160 private jets.
China's market is booming because its registered private jets are a fraction of the 15,000 jets registered in the US, but the world's second largest economy has 4 times the population of US.
Leithen Francis, Asia editor at Aviation Weekly said: "Unlike the United States where you tend to get an individual or company that's maybe owned business jets for decades, so they trade in their old business jets to get a new jet, what's different about China is that 90 per cent of customers are new to business aviation; they have never operate business jets before."
And secondary industries like aircraft chartering companies are on the rise, as private jet demand grows in the region.
Jet chartering firm Chapman-Freeborn said it has seen new customers from its recently launched aircraft booking application.
"A lot of people are spending their time on phone devices, smartphones and we want to implement the private jets usage into these devices just to convert them into an easy way to travel. People think that booking a jet is not like booking a (airline) seat, that it is difficult. But a charter should be as easy as booking a seat," said Nicolas Chemin, Passenger Charter Manager with Chapman-Freeborn.
Chapman-Freeborn made sales of around US$800 million in 2010, doubling from about US$400 million in 2006.
Overall, experts said Asia is now the rising market while demand in Europe and the US dries up.
As a result, jet management companies here are seeing a boom.
One of China's largest player, Deer Jet, has an estimated fleet size of around 30, up from about 12 jets just three years ago.
Francis said: "Because to be able to operate an aircraft you need to have certain number of personnel, you need to have chief engineer, chief pilot. For a businessman to go out and employ these kinds of people, it's a lot of effort to go through.
"We are talking about individuals who own aircraft, it's just that they get another company to manage the aircraft for them."
Going forward, experts said the maintenance, repair and overhaul (MRO) industry in Singapore will also benefit.
While the country might not have a large number of jet owners, it reportedly accounts for one quarter of Asia Pacific's commercial MRO work.
And with big players like Rolls-Royce and Fokker investing heavily in Singapore, experts expect the MRO business to grow strongly.
- CNA /ls
- wong chee tat :)
SunGard appointed tech provider for intra-ASEAN trading platform
SunGard appointed tech provider for intra-ASEAN trading platform
Posted: 14 June 2011 2312 hrs
SINGAPORE : SunGard has been appointed as the technology provider for the intra-ASEAN cross-border order routing and trading platform that will integrate four exchanges in the region.
It is part of the ASEAN Exchanges Collaboration - that comprises Bursa Malaysia, the Philippine Stock Exchange, the Singapore Exchange and the Stock Exchange of Thailand, among others.
The consolidated trading platform will enable investors and broker members to access multiple markets via a single connection.
The platform is expected to go 'live' by the end of the first quarter of 2012.
CEO of Bursa Malaysia, Dato Tajuddin Atan, said the trading link is an important development in enabling ASEAN markets to create greater investment mobility.
Other industry experts said the trading platform would greatly facilitate global trades for retail investors seeking a bigger exposure in a fast growing ASEAN market.
However, some said that the technology alone is insufficient to make the project a success.
The ASEAN exchanges said they would work together on marketing initiatives to promote the ASEAN link and the ASEAN asset class.
- CNA/al
- wong chee tat :)
Posted: 14 June 2011 2312 hrs
SINGAPORE : SunGard has been appointed as the technology provider for the intra-ASEAN cross-border order routing and trading platform that will integrate four exchanges in the region.
It is part of the ASEAN Exchanges Collaboration - that comprises Bursa Malaysia, the Philippine Stock Exchange, the Singapore Exchange and the Stock Exchange of Thailand, among others.
The consolidated trading platform will enable investors and broker members to access multiple markets via a single connection.
The platform is expected to go 'live' by the end of the first quarter of 2012.
CEO of Bursa Malaysia, Dato Tajuddin Atan, said the trading link is an important development in enabling ASEAN markets to create greater investment mobility.
Other industry experts said the trading platform would greatly facilitate global trades for retail investors seeking a bigger exposure in a fast growing ASEAN market.
However, some said that the technology alone is insufficient to make the project a success.
The ASEAN exchanges said they would work together on marketing initiatives to promote the ASEAN link and the ASEAN asset class.
- CNA/al
- wong chee tat :)
Sunday, June 26, 2011
ST Aerospace, Marubeni to form engine leasing company
ST Aerospace, Marubeni to form engine leasing company
By Jonathan Peeris | Posted: 20 June 2011 2218 hrs
SINGAPORE : ST Engineering's aerospace arm has partnered Japan's Marubeni Corporation to form an engine leasing company in Singapore.
The new joint venture company, called Total Engine Asset Management, will be equally owned by ST Aerospace and Marubeni and commence operations in the second half of this year.
The firm's initial engine leasing portfolio will include engines that mainly power narrow-body aircraft such as the Airbus A320 and Boeing 737.
The joint venture firm plans to invest about US$100 million worth of assets within the first two years, with an equity injection of up to US$40 million.
In a joint statement, the firms said the new joint venture will leverage on ST Aerospace's expertise in total engine support, alongside Marubeni's extensive experience in financing and marketing knowledge, to bring value added solutions to customers worldwide.
- CNA/ms
- wong chee tat :)
By Jonathan Peeris | Posted: 20 June 2011 2218 hrs
SINGAPORE : ST Engineering's aerospace arm has partnered Japan's Marubeni Corporation to form an engine leasing company in Singapore.
The new joint venture company, called Total Engine Asset Management, will be equally owned by ST Aerospace and Marubeni and commence operations in the second half of this year.
The firm's initial engine leasing portfolio will include engines that mainly power narrow-body aircraft such as the Airbus A320 and Boeing 737.
The joint venture firm plans to invest about US$100 million worth of assets within the first two years, with an equity injection of up to US$40 million.
In a joint statement, the firms said the new joint venture will leverage on ST Aerospace's expertise in total engine support, alongside Marubeni's extensive experience in financing and marketing knowledge, to bring value added solutions to customers worldwide.
- CNA/ms
- wong chee tat :)
SGX introducing new templates for new product disclosures
SGX introducing new templates for new product disclosures
By Millet Enriquez | Posted: 20 June 2011 2251 hrs
SINGAPORE : The Singapore Exchange (SGX) is introducing a new set of templates for new product disclosures to enhance the readability of term sheets for warrants, debentures and funds.
SGX said a consistent presentation of product features and risks will help investors have a clear and efficient comparison of competing products in the market.
As such, it is requiring issuers to use the guidelines and term sheet formats beginning August 1 this year.
The disclosure templates will apply to the term sheets for debt issues of asset-backed securities, exchange traded notes and structured notes.
It will also cover funds including collective investment schemes and exchange traded funds and structured warrants.
With the practice notes, SGX said that products that do not come with registered prospectus under the Monetary Authority of Singapore can now have their features and risks disclosed in standardised formats
SGX said the new guidelines are in line with the central bank's initiatives to improve disclosure through the use of product highlight sheets.
The practice notes are made available through the SGX website under the SGX Rulebooks - Rule Amendments.
- CNA/ms
- wong chee tat :)
By Millet Enriquez | Posted: 20 June 2011 2251 hrs
SINGAPORE : The Singapore Exchange (SGX) is introducing a new set of templates for new product disclosures to enhance the readability of term sheets for warrants, debentures and funds.
SGX said a consistent presentation of product features and risks will help investors have a clear and efficient comparison of competing products in the market.
As such, it is requiring issuers to use the guidelines and term sheet formats beginning August 1 this year.
The disclosure templates will apply to the term sheets for debt issues of asset-backed securities, exchange traded notes and structured notes.
It will also cover funds including collective investment schemes and exchange traded funds and structured warrants.
With the practice notes, SGX said that products that do not come with registered prospectus under the Monetary Authority of Singapore can now have their features and risks disclosed in standardised formats
SGX said the new guidelines are in line with the central bank's initiatives to improve disclosure through the use of product highlight sheets.
The practice notes are made available through the SGX website under the SGX Rulebooks - Rule Amendments.
- CNA/ms
- wong chee tat :)
Start-up process for ExxonMobil's ethylene cracker plant delayed
Start-up process for ExxonMobil's ethylene cracker plant delayed
By Millet Enriquez | Posted: 20 June 2011 2326 hrs
SINGAPORE : The start-up process for ExxonMobil's ethylene cracker plant in Jurong Island is delayed and is now pushed back to early 2012.
Initially projected to begin operations this year, ExxonMobil said it now anticipates mechanical completion and start-up activities of other new facilities to come in phases through 2011 and 2012.
In a statement sent to MediaCorp, the US oil giant said safety is its top priority and it is focusing on a "disciplined" execution of the start process - citing the scale, complexity and inter-dependence of the units required for the project.
In the meantime, ExxonMobil said major polymer units - such as the specialty elastomers, the polyethylene and polypropylene plants - have been mechanically completed and commissioning activities have also started.
"We anticipate commissioning and start-up activities of the new downstream units to occur in phases through 2011 and 2012," ExxonMobil said.
ExxonMobil's petrochemical complex consists of a world scale steam cracker and associated units, which include polyethylene, polypropylene and specialty elastomer plants.
The cracker has the capacity to produce 1 million tonnes of ethylene per year.
- CNA/ms
- wong chee tat :)
By Millet Enriquez | Posted: 20 June 2011 2326 hrs
SINGAPORE : The start-up process for ExxonMobil's ethylene cracker plant in Jurong Island is delayed and is now pushed back to early 2012.
Initially projected to begin operations this year, ExxonMobil said it now anticipates mechanical completion and start-up activities of other new facilities to come in phases through 2011 and 2012.
In a statement sent to MediaCorp, the US oil giant said safety is its top priority and it is focusing on a "disciplined" execution of the start process - citing the scale, complexity and inter-dependence of the units required for the project.
In the meantime, ExxonMobil said major polymer units - such as the specialty elastomers, the polyethylene and polypropylene plants - have been mechanically completed and commissioning activities have also started.
"We anticipate commissioning and start-up activities of the new downstream units to occur in phases through 2011 and 2012," ExxonMobil said.
ExxonMobil's petrochemical complex consists of a world scale steam cracker and associated units, which include polyethylene, polypropylene and specialty elastomer plants.
The cracker has the capacity to produce 1 million tonnes of ethylene per year.
- CNA/ms
- wong chee tat :)
M1 to launch LTE-based Next Generation Mobile Network
M1 to launch LTE-based Next Generation Mobile Network
By Rachel Kelly | Posted: 20 June 2011 2326 hrs
SINGAPORE : Singapore telco M1 will be the first in South-East Asia to launch ultra-high speed mobile services with Long Term Evolution (LTE).
Its LTE-based Next Generation Mobile Network, to be launched on Tuesday, will provide consumers with speeds of up to ten times faster than what is currently available.
Operating on both 1.8 GHz and 2.6 GHz frequency bands, it will have an initial theoretical downlink speed of 75 Mbps and uplink speed of 37.5 Mbps.
By the end of 2012, speeds are expected to double, with the theoretical downlink upgraded to 150 Mbps, while uplink speed will be at 75 Mbps.
The launch will include customers from M1's enterprise sector, who will be able to access the network via USB modems on their existing mobile broadband plans.
M1 said an expanded range of LTE devices, including tablets and smartphones, is expected to be available later this year.
M1 will initially start the services in the financial district, including Marina Bay, Suntec and Shenton Way.
The telco said the network's full coverage nationwide is expected to be completed by the first quarter of 2012.
Rival telco SingTel said it is progressively rolling out its LTE network and will offer commercial LTE services in October.
From July, all customers of SingTel's Premium 21 mobile broadband service, which comes with the SingTel Priority Pass, "will be issued with LTE dongles so that they can enjoy LTE services at no extra charge for the duration of their contract", said a SingTel spokesperson.
"We intend to disclose typical speeds of our LTE services instead of theoretical speeds, so that our customers know exactly what they are getting and can make better informed choices," added the spokesperson.
Meanwhile, Starhub said it plans to roll out its LTE network later this year.
Peter Cook, vice president of mobile network engineering, StarHub, said: "We successfully completed technical trials of LTE in 2010 and have now extended these trials to the new LTE 1800 MHz band to provide better, deeper LTE coverage in the future.
"We are particularly interested in the 1800 MHz band for LTE deployment as it has approximately twice the coverage area compared to 2.6 GHz, according to the Global Mobile Suppliers Association (or GSA)."
Analysts said it is still early days when it comes to LTE deployment, adding that while the initial rollout will be with dongles, unavailability of a wide range of devices is still a hindrance to wide market adoption.
- CNA/al
- wong chee tat :)
By Rachel Kelly | Posted: 20 June 2011 2326 hrs
SINGAPORE : Singapore telco M1 will be the first in South-East Asia to launch ultra-high speed mobile services with Long Term Evolution (LTE).
Its LTE-based Next Generation Mobile Network, to be launched on Tuesday, will provide consumers with speeds of up to ten times faster than what is currently available.
Operating on both 1.8 GHz and 2.6 GHz frequency bands, it will have an initial theoretical downlink speed of 75 Mbps and uplink speed of 37.5 Mbps.
By the end of 2012, speeds are expected to double, with the theoretical downlink upgraded to 150 Mbps, while uplink speed will be at 75 Mbps.
The launch will include customers from M1's enterprise sector, who will be able to access the network via USB modems on their existing mobile broadband plans.
M1 said an expanded range of LTE devices, including tablets and smartphones, is expected to be available later this year.
M1 will initially start the services in the financial district, including Marina Bay, Suntec and Shenton Way.
The telco said the network's full coverage nationwide is expected to be completed by the first quarter of 2012.
Rival telco SingTel said it is progressively rolling out its LTE network and will offer commercial LTE services in October.
From July, all customers of SingTel's Premium 21 mobile broadband service, which comes with the SingTel Priority Pass, "will be issued with LTE dongles so that they can enjoy LTE services at no extra charge for the duration of their contract", said a SingTel spokesperson.
"We intend to disclose typical speeds of our LTE services instead of theoretical speeds, so that our customers know exactly what they are getting and can make better informed choices," added the spokesperson.
Meanwhile, Starhub said it plans to roll out its LTE network later this year.
Peter Cook, vice president of mobile network engineering, StarHub, said: "We successfully completed technical trials of LTE in 2010 and have now extended these trials to the new LTE 1800 MHz band to provide better, deeper LTE coverage in the future.
"We are particularly interested in the 1800 MHz band for LTE deployment as it has approximately twice the coverage area compared to 2.6 GHz, according to the Global Mobile Suppliers Association (or GSA)."
Analysts said it is still early days when it comes to LTE deployment, adding that while the initial rollout will be with dongles, unavailability of a wide range of devices is still a hindrance to wide market adoption.
- CNA/al
- wong chee tat :)
Saturday, June 25, 2011
Friday, June 24, 2011
Thursday, June 23, 2011
Wednesday, June 22, 2011
Tuesday, June 21, 2011
Monday, June 20, 2011
Sunday, June 19, 2011
Gold prices may hit US$1,700 end of Q3: analysts
Gold prices may hit US$1,700 end of Q3: analysts
By Stella Lee | Posted: 17 June 2011 2348 hrs
SINGAPORE : Gold prices are likely to break previous records, with lacklustre economic recovery in the US and concerns over uncertainty in the European debt markets giving support.
Analysts say the precious metal has gained in popularity as a safe haven investment, pushing up prices.
Besides stocking up on bullion, they say retail investors in Asia are also looking at other gold alternatives such as gold ETFs as part of portfolio diversification.
Gold prices have continued their upward march and analysts say prices are likely to hit US$1,700 an ounce by the end of the third quarter of this year.
Fears over Europe's sovereign debt crisis and the weakening US dollar have driven the gold market upwards.
Ong Yi Ling, investment analyst at Phillips Futures, said: "(Only) with acceleration of economic recovery and consumer confidence will there be a return to more risky assets."
Spot gold traded around US$1,528 an ounce in Asia on Friday. It stood at an all time high of US$1,563.70 in late April.
However, many analysts believe that investors should not put all their eggs into one gold basket.
Sean Mulhearn, global head of commodity sales at ANZ Bank, said: "Our philosophy is that a more balanced approach and a more balanced investment policy is a much smarter way of trying to invest in gold."
Other industry observers even consider gold as the safety net in an investment portfolio.
Albert Cheng, managing director, World Gold Council, said: "It is like an insurance to your portfolio, like life insurance to your life. As an insurance policy, you will only want to use it when you are in a distressed situation.
"In the case of a financial portfolio, when all other asset classes are going south, probably your gold is going up; but in reverse if all your asset classes are going up and your gold remains steady, that is exactly what your insurance policy is for."
Many observers also say that more and more Asian investors are seeking out alternative ways of making money from gold.
These include gold exchange traded funds, or ETFs, which are pegged to the underlying value of gold and traded like stocks, which are better suited to less sophisticated investors.
Analysts say gold ETFs are less risky than gold structured products, and require less sophisticated investment understanding.
Mulhearn said: "We have seen a lot of growth in the global ETFs - that doubled in size in the last 12 months - so we have seen a tremendous amount of money moving into the ETFs."
According to the World Gold Council, China has contributed to the rise in prices of the precious metal, but its total demand has yet to be fully priced into the market.
China's consumer demand for gold in the first quarter of this year alone exceeded 41 per cent of the demand for 2010 and overtook India as the largest investment market for physical bars and coins in 2010.
- CNA/al
- wong chee tat :)
By Stella Lee | Posted: 17 June 2011 2348 hrs
SINGAPORE : Gold prices are likely to break previous records, with lacklustre economic recovery in the US and concerns over uncertainty in the European debt markets giving support.
Analysts say the precious metal has gained in popularity as a safe haven investment, pushing up prices.
Besides stocking up on bullion, they say retail investors in Asia are also looking at other gold alternatives such as gold ETFs as part of portfolio diversification.
Gold prices have continued their upward march and analysts say prices are likely to hit US$1,700 an ounce by the end of the third quarter of this year.
Fears over Europe's sovereign debt crisis and the weakening US dollar have driven the gold market upwards.
Ong Yi Ling, investment analyst at Phillips Futures, said: "(Only) with acceleration of economic recovery and consumer confidence will there be a return to more risky assets."
Spot gold traded around US$1,528 an ounce in Asia on Friday. It stood at an all time high of US$1,563.70 in late April.
However, many analysts believe that investors should not put all their eggs into one gold basket.
Sean Mulhearn, global head of commodity sales at ANZ Bank, said: "Our philosophy is that a more balanced approach and a more balanced investment policy is a much smarter way of trying to invest in gold."
Other industry observers even consider gold as the safety net in an investment portfolio.
Albert Cheng, managing director, World Gold Council, said: "It is like an insurance to your portfolio, like life insurance to your life. As an insurance policy, you will only want to use it when you are in a distressed situation.
"In the case of a financial portfolio, when all other asset classes are going south, probably your gold is going up; but in reverse if all your asset classes are going up and your gold remains steady, that is exactly what your insurance policy is for."
Many observers also say that more and more Asian investors are seeking out alternative ways of making money from gold.
These include gold exchange traded funds, or ETFs, which are pegged to the underlying value of gold and traded like stocks, which are better suited to less sophisticated investors.
Analysts say gold ETFs are less risky than gold structured products, and require less sophisticated investment understanding.
Mulhearn said: "We have seen a lot of growth in the global ETFs - that doubled in size in the last 12 months - so we have seen a tremendous amount of money moving into the ETFs."
According to the World Gold Council, China has contributed to the rise in prices of the precious metal, but its total demand has yet to be fully priced into the market.
China's consumer demand for gold in the first quarter of this year alone exceeded 41 per cent of the demand for 2010 and overtook India as the largest investment market for physical bars and coins in 2010.
- CNA/al
- wong chee tat :)
Unit prices for DBSS project in Tampines hit record high
Unit prices for DBSS project in Tampines hit record high
By Liang Kaixin | Posted: 16 June 2011 2322 hrs
SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.
Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.
Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.
The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.
DBSS projects are open to households earning a combined income of up to S$10,000 a month.
Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.
Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."
-CNA/ac
- wong chee tat :)
By Liang Kaixin | Posted: 16 June 2011 2322 hrs
SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.
Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.
Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.
The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.
DBSS projects are open to households earning a combined income of up to S$10,000 a month.
Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.
Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."
-CNA/ac
- wong chee tat :)
Khaw mulls larger combined BTO launches
Khaw mulls larger combined BTO launches
By Evelyn Choo | Posted: 18 June 2011 1815 hrs
SINGAPORE: National Development Minister Khaw Boon Wan says he is considering moving away from the current practice of monthly launches of Build-To-Order HDB flats and explore ways to have larger combined launches.
In the latest entry on his blog, Mr Khaw said he has been advised to do larger launches.
Mr Khaw thinks this is sound advice.
He said larger launches offer buyers a wider range of choices and reduce the odds of repeated disappointment.
Mr Khaw said he is working with the HDB to see how the June and July launches can be combined for a larger launch.
He also pledged to price them wisely, adding that they will certainly not be near the prices suggested in the recent Design, Build and Sell Scheme (DBSS) flats.
He was referring to a private developer's DBSS launch in Tampines, with the upper end of the 5-room units priced at S$880,000.
Noting that it has caused a stir in the social media, he said the negative reaction was not surprising.
Mr Khaw also explained the difference between DBSS developments and mainstream public housing projects built by the HDB.
He explained that DBSS is a class of housing type between HDB flats and executive condominiums/private condos.
DBSS forms a tiny portion of the total housing options for Singaporeans.
Mr Khaw pointed out that while HDB flats are designed and priced by HDB, DBSS flats are designed and priced by private developers.
He said if the private developer prices it too high and there are no takers, there will be no sales.
Mr Khaw said netizens would like his ministry to step in and tell the private developer to cut its price.
He explained that when private developers tender for the land, price control is not a term of the tender.
He added that if contracts that have been awarded can be varied arbitrarily, Singapore's reputation as a business hub will be damaged, with severe repercussions.
But he said netizens are not powerless.
He said if buyers find a price too high, they can walk away.
On his part, he is ramping up more BTO launches and pricing them appropriately.
He said the HDB is launching 25,000 units this year. Of these, 12,000 units have already been launched. Another 13,000 units will be launched later this year, averaging 1,800 units per month.
- CNA/ir
- wong chee tat :)
By Evelyn Choo | Posted: 18 June 2011 1815 hrs
SINGAPORE: National Development Minister Khaw Boon Wan says he is considering moving away from the current practice of monthly launches of Build-To-Order HDB flats and explore ways to have larger combined launches.
In the latest entry on his blog, Mr Khaw said he has been advised to do larger launches.
Mr Khaw thinks this is sound advice.
He said larger launches offer buyers a wider range of choices and reduce the odds of repeated disappointment.
Mr Khaw said he is working with the HDB to see how the June and July launches can be combined for a larger launch.
He also pledged to price them wisely, adding that they will certainly not be near the prices suggested in the recent Design, Build and Sell Scheme (DBSS) flats.
He was referring to a private developer's DBSS launch in Tampines, with the upper end of the 5-room units priced at S$880,000.
Noting that it has caused a stir in the social media, he said the negative reaction was not surprising.
Mr Khaw also explained the difference between DBSS developments and mainstream public housing projects built by the HDB.
He explained that DBSS is a class of housing type between HDB flats and executive condominiums/private condos.
DBSS forms a tiny portion of the total housing options for Singaporeans.
Mr Khaw pointed out that while HDB flats are designed and priced by HDB, DBSS flats are designed and priced by private developers.
He said if the private developer prices it too high and there are no takers, there will be no sales.
Mr Khaw said netizens would like his ministry to step in and tell the private developer to cut its price.
He explained that when private developers tender for the land, price control is not a term of the tender.
He added that if contracts that have been awarded can be varied arbitrarily, Singapore's reputation as a business hub will be damaged, with severe repercussions.
But he said netizens are not powerless.
He said if buyers find a price too high, they can walk away.
On his part, he is ramping up more BTO launches and pricing them appropriately.
He said the HDB is launching 25,000 units this year. Of these, 12,000 units have already been launched. Another 13,000 units will be launched later this year, averaging 1,800 units per month.
- CNA/ir
- wong chee tat :)
Friday, June 17, 2011
Thursday, June 16, 2011
About a third of denture wearers have loose dentures: study
About a third of denture wearers have loose dentures: study
By Vimita Mohandas | Posted: 13 June 2011 2022 hrs
SINGAPORE : About a third of denture wearers in Singapore are trying to cope with loose-fitting dentures, according to a recent study by Polident of more than 1,000 denture wearers in Singapore between the ages of 15 and 60 years.
Denture wearers may be dealing with more than just teething problems.
They may be at a higher risk of suffering from oral health complications because of poor nutrition as they opt for softer and wetter food which requires less effort to chew and swallow.
They tend to avoid certain foods - such as peanuts and seeds - because they are hard to chew with loose-fitting dentures.
Besides poorer nutrition, these people may face higher health risks as their diet may not be balanced or complete.
The solution could be an easy-to-use denture adhesive cream. It improves the stability of dentures and allows wearers to eat a variety of food.
Dr Wong Keng Mun, past president of Prosthodontic Society (Singapore), said: "For denture wearers, one thing is, really, how do we prevent food from going underneath and how do we increase the stability.
"And now one easy way is to have the adhesive because the adhesive seals the border of the denture so seeds won't get underneath. And because this denture adhesive acts like a glue ... between the hard and soft tissue, so that it sticks quite well, the patient can eat quite well as well."
Denture wearers who used the adhesive cream saw a 30 per cent improvement in their chewing efficiency.
At S$8 a tube, it is much cheaper than dental implants, which can cost as much as S$6,000 a tooth.
Dental implants may also not be suitable for patients suffering from high blood pressure and uncontrolled diabetes.
Dr Wong also advised denture wearers to visit the dentist at least once a year to assess the condition of their dentures.
- CNA/al
- wong chee tat :)
By Vimita Mohandas | Posted: 13 June 2011 2022 hrs
SINGAPORE : About a third of denture wearers in Singapore are trying to cope with loose-fitting dentures, according to a recent study by Polident of more than 1,000 denture wearers in Singapore between the ages of 15 and 60 years.
Denture wearers may be dealing with more than just teething problems.
They may be at a higher risk of suffering from oral health complications because of poor nutrition as they opt for softer and wetter food which requires less effort to chew and swallow.
They tend to avoid certain foods - such as peanuts and seeds - because they are hard to chew with loose-fitting dentures.
Besides poorer nutrition, these people may face higher health risks as their diet may not be balanced or complete.
The solution could be an easy-to-use denture adhesive cream. It improves the stability of dentures and allows wearers to eat a variety of food.
Dr Wong Keng Mun, past president of Prosthodontic Society (Singapore), said: "For denture wearers, one thing is, really, how do we prevent food from going underneath and how do we increase the stability.
"And now one easy way is to have the adhesive because the adhesive seals the border of the denture so seeds won't get underneath. And because this denture adhesive acts like a glue ... between the hard and soft tissue, so that it sticks quite well, the patient can eat quite well as well."
Denture wearers who used the adhesive cream saw a 30 per cent improvement in their chewing efficiency.
At S$8 a tube, it is much cheaper than dental implants, which can cost as much as S$6,000 a tooth.
Dental implants may also not be suitable for patients suffering from high blood pressure and uncontrolled diabetes.
Dr Wong also advised denture wearers to visit the dentist at least once a year to assess the condition of their dentures.
- CNA/al
- wong chee tat :)
BroadcastAsia 2011 to see more overseas exhibitors
BroadcastAsia 2011 to see more overseas exhibitors
By Sara Grosse | Posted: 14 June 2011 1629 hrs
SINGAPORE: 86 per cent of exhibitors at BroadcastAsia 2011 are from outside Singapore, with a strong presence from Europe. The event that showcases technology and products will see group pavilions from Belgium, France, Germany, Italy, Spain and the UK.
It will feature over 650 exhibitors and cover 13,200 square metres of exhibition space, showing products that range from 3D and Hybrid TV to Digital Signage and Professional Audio Technology.
BroadcastAsia organisers said the exhibition boasts a growth of seven per cent this year compared to 2010.
There will be exhibitors from 43 countries and representatives from 12 group pavilions.
Highlights at the show include a Cinematography/Film/Production zone. where production companies will demonstrate the latest innovations.
BroadcastAsia's Senior Project Manager, Calvin Koh, said: "I think with Asian films evolving and moving at a very astounding speed and also most of the films right now in Asia, you can see they are highly recognised, more viewership.
"So we felt there is a need for us to continue to put equal or important emphasis on cinematography, film and production"
Hybrid Broadcast Broadband TV (HbbTV), a combination of broadcast technology with the Internet and originally from Europe, will also be showcased for the first time at BroadcastAsia.
Sony will also unveil a few new products at the event. These include the new BVM series OLED monitors, as well as the first fully integrated 3D compact camcorder HXR-NX3D1P.
Chris Grey, Head of Content Creation Solutions at Sony Electronics Asia Pacific, said: "I think 3D is still on a wave and will continue. In fact, we got two new cameras at BroadcastAsia - one is compact size, another is a shoulder camcorder for 3D use. So yeah, we see demand and sales growing in that area."
A five to seven per cent growth in visitorship is expected this year, compared to last year. This thanks to an upbeat Asian economy, said organisers.
And when combined with CommunicAsia, BroadcastAsia's total sourcing budget shared by registered visitors is more than US$3.9 billion. That is a 12 per cent increase compared to the same period last year.
BroadcastAsia 2011 will take place from June 21-24 at Suntec Singapore.
-CNA/ac
- wong chee tat :)
By Sara Grosse | Posted: 14 June 2011 1629 hrs
SINGAPORE: 86 per cent of exhibitors at BroadcastAsia 2011 are from outside Singapore, with a strong presence from Europe. The event that showcases technology and products will see group pavilions from Belgium, France, Germany, Italy, Spain and the UK.
It will feature over 650 exhibitors and cover 13,200 square metres of exhibition space, showing products that range from 3D and Hybrid TV to Digital Signage and Professional Audio Technology.
BroadcastAsia organisers said the exhibition boasts a growth of seven per cent this year compared to 2010.
There will be exhibitors from 43 countries and representatives from 12 group pavilions.
Highlights at the show include a Cinematography/Film/Production zone. where production companies will demonstrate the latest innovations.
BroadcastAsia's Senior Project Manager, Calvin Koh, said: "I think with Asian films evolving and moving at a very astounding speed and also most of the films right now in Asia, you can see they are highly recognised, more viewership.
"So we felt there is a need for us to continue to put equal or important emphasis on cinematography, film and production"
Hybrid Broadcast Broadband TV (HbbTV), a combination of broadcast technology with the Internet and originally from Europe, will also be showcased for the first time at BroadcastAsia.
Sony will also unveil a few new products at the event. These include the new BVM series OLED monitors, as well as the first fully integrated 3D compact camcorder HXR-NX3D1P.
Chris Grey, Head of Content Creation Solutions at Sony Electronics Asia Pacific, said: "I think 3D is still on a wave and will continue. In fact, we got two new cameras at BroadcastAsia - one is compact size, another is a shoulder camcorder for 3D use. So yeah, we see demand and sales growing in that area."
A five to seven per cent growth in visitorship is expected this year, compared to last year. This thanks to an upbeat Asian economy, said organisers.
And when combined with CommunicAsia, BroadcastAsia's total sourcing budget shared by registered visitors is more than US$3.9 billion. That is a 12 per cent increase compared to the same period last year.
BroadcastAsia 2011 will take place from June 21-24 at Suntec Singapore.
-CNA/ac
- wong chee tat :)
Wednesday, June 15, 2011
Some BTO applicants switch to smaller units as income ceiling raised
Some BTO applicants switch to smaller units as income ceiling raised
By Ng Lian Cheong and Qiuyi Tan | Posted: 14 June 2011 2136 hrs
SINGAPORE : HDB revised the income ceiling for Build-to-Order (BTO) 3-room HDB flats in March this year.
Since then, 43 applicants have switched to smaller flats which they said is easier on their pocket.
Under the old rules, 23-year-old sales associate Tan Jie Ying and 29-year-old Tay Choon Yao, a photography producer, applied for a four-room flat.
But with the income ceiling raised from S$3,000 to S$5,000, the young couple now qualifies for a three-room unit and they have made the switch.
The difference in their monthly mortgage payments may not be huge, but they are thinking long term.
"In future, when we get the flat, maybe we don't just have a home loan; we might have a car loan, we have fees to pay for children or more bills to pay," said BTO flat applicant Tan.
The new income ceiling affects the Sengkang and Bukit Panjang BTO projects launched in late February this year.
Close to 60 applicants for these flats have asked to make the switch, and 43 were successful.
Like many of their friends, the young couple too said the waiting time for a BTO flat could be shorter - ideally within two years.
"This will enable us to have better forecast of our future, in terms of our short and long term commitments, of having a family, having kids, being able to maybe live with our parents is also another option. So we can plan whether we can upgrade to a bigger flat. It will definitely improve how we can see our future in Singapore," said Tay.
Property agents Channel NewsAsia spoke to say some buyers have turned to the resale market because they simply cannot wait.
With growing demand, they said prices of resale three-room flats are also going up.
- CNA /ls
- wong chee tat :)
By Ng Lian Cheong and Qiuyi Tan | Posted: 14 June 2011 2136 hrs
SINGAPORE : HDB revised the income ceiling for Build-to-Order (BTO) 3-room HDB flats in March this year.
Since then, 43 applicants have switched to smaller flats which they said is easier on their pocket.
Under the old rules, 23-year-old sales associate Tan Jie Ying and 29-year-old Tay Choon Yao, a photography producer, applied for a four-room flat.
But with the income ceiling raised from S$3,000 to S$5,000, the young couple now qualifies for a three-room unit and they have made the switch.
The difference in their monthly mortgage payments may not be huge, but they are thinking long term.
"In future, when we get the flat, maybe we don't just have a home loan; we might have a car loan, we have fees to pay for children or more bills to pay," said BTO flat applicant Tan.
The new income ceiling affects the Sengkang and Bukit Panjang BTO projects launched in late February this year.
Close to 60 applicants for these flats have asked to make the switch, and 43 were successful.
Like many of their friends, the young couple too said the waiting time for a BTO flat could be shorter - ideally within two years.
"This will enable us to have better forecast of our future, in terms of our short and long term commitments, of having a family, having kids, being able to maybe live with our parents is also another option. So we can plan whether we can upgrade to a bigger flat. It will definitely improve how we can see our future in Singapore," said Tay.
Property agents Channel NewsAsia spoke to say some buyers have turned to the resale market because they simply cannot wait.
With growing demand, they said prices of resale three-room flats are also going up.
- CNA /ls
- wong chee tat :)
Total lunar eclipse set for Africa, Middle East, Central Asia
Total lunar eclipse set for Africa, Middle East, Central Asia
Posted: 15 June 2011 1938 hrs
PARIS - Astronomers in parts of Europe, Africa, Central Asia and Australia were hoping for clear skies on Wednesday to enjoy a total lunar eclipse, the first of 2011 and the longest in nearly 11 years.
A total lunar eclipse occurs when Earth casts its shadow over the Moon.
The lunar face can sometimes turn reddish, coppery-brown or orange, tinged by light from the Sun that refracts as it passes through our atmosphere.
The terrestrial shadow starts to fall at 1724 GMT and lifts at 2300 GMT, although "totality" -- when the lunar face is completely covered -- runs from 1922 to 2102 GMT, according to NASA's veteran eclipse-watcher, Fred Espenak.
The 100-minute period of totality is the longest since July 2000.
"The entire event will be seen from the eastern half of Africa, the Middle East, Central Asia and western Australia," says Espenak.
"Observers throughout Europe will miss the early stages of the eclipse because they occur before moonrise. Fortunately, totality will be seen throughout the continent except for northern Scotland and northern Scandinavia."
Eastern Asia, eastern Australia and New Zealand will miss the last stages of the eclipse because they occur after moonset.
Totality will be visible from eastern Brazil, Uruguay and Argentina. None of the eclipse will be visible from North America, though.
The next total lunar eclipse is on December 10.
There will be partial solar eclipses on July 1 and November 25. The next total solar eclipse will take place on 13 November 2012, in a track running across North Australia, New Zealand, the South Pacific and southerly South America.
- AFP/ir
- wong chee tat :)
Posted: 15 June 2011 1938 hrs
PARIS - Astronomers in parts of Europe, Africa, Central Asia and Australia were hoping for clear skies on Wednesday to enjoy a total lunar eclipse, the first of 2011 and the longest in nearly 11 years.
A total lunar eclipse occurs when Earth casts its shadow over the Moon.
The lunar face can sometimes turn reddish, coppery-brown or orange, tinged by light from the Sun that refracts as it passes through our atmosphere.
The terrestrial shadow starts to fall at 1724 GMT and lifts at 2300 GMT, although "totality" -- when the lunar face is completely covered -- runs from 1922 to 2102 GMT, according to NASA's veteran eclipse-watcher, Fred Espenak.
The 100-minute period of totality is the longest since July 2000.
"The entire event will be seen from the eastern half of Africa, the Middle East, Central Asia and western Australia," says Espenak.
"Observers throughout Europe will miss the early stages of the eclipse because they occur before moonrise. Fortunately, totality will be seen throughout the continent except for northern Scotland and northern Scandinavia."
Eastern Asia, eastern Australia and New Zealand will miss the last stages of the eclipse because they occur after moonset.
Totality will be visible from eastern Brazil, Uruguay and Argentina. None of the eclipse will be visible from North America, though.
The next total lunar eclipse is on December 10.
There will be partial solar eclipses on July 1 and November 25. The next total solar eclipse will take place on 13 November 2012, in a track running across North Australia, New Zealand, the South Pacific and southerly South America.
- AFP/ir
- wong chee tat :)
No customers in Asia affected by cyberattack, says Citi
No customers in Asia affected by cyberattack, says Citi
By Rachel Kelly | Posted: 10 June 2011 2115 hrs
SINGAPORE: US banking group Citi said no customers in Singapore or Asia have been affected by the recent cyberattack on the bank. This was in response to a query by Channel NewsAsia on whether the bank has raised its security patches in Singapore to prevent similar attacks.
A Citibank spokesperson said: "Customer accounts established with Citibank Singapore have not been impacted in any way by the hacking incident reported in the US. Maintaining the confidentiality of our customers' information is a priority for Citibank."
Personal information, including names, account numbers and contact information like email addresses of around 200,000 Citi customers in North America was viewed.
While unaffected by the recent spate of security threats, Australian bank ANZ has decided to re-issue new RSA secureID tokens to all customers and staff currently using the technology.
ANZ has approximately 50,000 RSA tokens in use across Australia, New Zealand and the Asia Pacific region. Tokens will be replaced for all customers and staff in Singapore too.
"There will be no expense for ANZ customers as a result of this decision to replace the tokens," added an ANZ spokesperson.
Singapore bank DBS said it has several layers of security in place to protect its customers.
OCBC said it will continue to strengthen its defence to guard against evolving security threats while UOB added that it is actively engaged in assessing new technologies.
Analysts said this is needed as threats are constantly evolving.
Balaji Srimoolanathan, Program Manager of Aerospace, Defence and Security with Frost & Sullivan, said: "The type of attacks that are evolving today are completely different from a week ago or a couple of weeks ago.
"There are new kinds of attacks happening everyday, so the need for technology development is quite high in this market - unless banks are going to be able to provide open feedback and work closely with governments and technology providers, there is never going to be a solution to the problem."
-CNA/ac
- wong chee tat :)
By Rachel Kelly | Posted: 10 June 2011 2115 hrs
SINGAPORE: US banking group Citi said no customers in Singapore or Asia have been affected by the recent cyberattack on the bank. This was in response to a query by Channel NewsAsia on whether the bank has raised its security patches in Singapore to prevent similar attacks.
A Citibank spokesperson said: "Customer accounts established with Citibank Singapore have not been impacted in any way by the hacking incident reported in the US. Maintaining the confidentiality of our customers' information is a priority for Citibank."
Personal information, including names, account numbers and contact information like email addresses of around 200,000 Citi customers in North America was viewed.
While unaffected by the recent spate of security threats, Australian bank ANZ has decided to re-issue new RSA secureID tokens to all customers and staff currently using the technology.
ANZ has approximately 50,000 RSA tokens in use across Australia, New Zealand and the Asia Pacific region. Tokens will be replaced for all customers and staff in Singapore too.
"There will be no expense for ANZ customers as a result of this decision to replace the tokens," added an ANZ spokesperson.
Singapore bank DBS said it has several layers of security in place to protect its customers.
OCBC said it will continue to strengthen its defence to guard against evolving security threats while UOB added that it is actively engaged in assessing new technologies.
Analysts said this is needed as threats are constantly evolving.
Balaji Srimoolanathan, Program Manager of Aerospace, Defence and Security with Frost & Sullivan, said: "The type of attacks that are evolving today are completely different from a week ago or a couple of weeks ago.
"There are new kinds of attacks happening everyday, so the need for technology development is quite high in this market - unless banks are going to be able to provide open feedback and work closely with governments and technology providers, there is never going to be a solution to the problem."
-CNA/ac
- wong chee tat :)
Most S'poreans expect to have less than S$150,000 in CPF on retirement
Most S'poreans expect to have less than S$150,000 in CPF on retirement
Posted: 15 June 2011 2018 hrs
SINGAPORE : People in Singapore who plan for their retirement will have about S$153,000 in retirement savings and investments, according to a survey by HSBC.
Those who do not plan - 28 per cent of individuals - will retire with a smaller amount of about S$80,000.
The Future of Retirement survey said about 76 per cent of those with a retirement plan rely on life insurance to finance their retirement.
Not surprisingly, these people also have a more positive outlook and fewer worries about retirement.
However, 65 per cent are concerned about the prospect of unforeseen events derailing their retirement plans.
The 2011 report, "The Power of Planning", is the sixth in a series and is based on interviews with more than 17,000 people in 17 countries.
The Singapore report was based on views of 1,046 respondents from the republic.
Finances are at the top of most Singaporean's minds when it comes to retirement - 55 per cent cited concerns about the need for more savings as people are living longer.
Furthermore, 29 per cent - the highest in Asia - were also concerned about costs of caring for older parents.
The majority of Singaporeans - 65 per cent - expect their CPF lump sum to be below S$150,000 when they retire.
According to the study, Singaporeans estimate that they will need an average monthly retirement income of S$3,000.
Commenting on how Singaporeans can save for their retirement nest egg, CEO of HSBC Insurance, Walter de Oude, said if a 65-year-old has S$150,000 in his CPF account, he can expect to receive about S$1,400 every month from CPF Life.
In order to receive a monthly income of S$3,000 during retirement, he will have to supplement his CPF savings with another investment.
- CNA/al
- wong chee tat :)
Posted: 15 June 2011 2018 hrs
SINGAPORE : People in Singapore who plan for their retirement will have about S$153,000 in retirement savings and investments, according to a survey by HSBC.
Those who do not plan - 28 per cent of individuals - will retire with a smaller amount of about S$80,000.
The Future of Retirement survey said about 76 per cent of those with a retirement plan rely on life insurance to finance their retirement.
Not surprisingly, these people also have a more positive outlook and fewer worries about retirement.
However, 65 per cent are concerned about the prospect of unforeseen events derailing their retirement plans.
The 2011 report, "The Power of Planning", is the sixth in a series and is based on interviews with more than 17,000 people in 17 countries.
The Singapore report was based on views of 1,046 respondents from the republic.
Finances are at the top of most Singaporean's minds when it comes to retirement - 55 per cent cited concerns about the need for more savings as people are living longer.
Furthermore, 29 per cent - the highest in Asia - were also concerned about costs of caring for older parents.
The majority of Singaporeans - 65 per cent - expect their CPF lump sum to be below S$150,000 when they retire.
According to the study, Singaporeans estimate that they will need an average monthly retirement income of S$3,000.
Commenting on how Singaporeans can save for their retirement nest egg, CEO of HSBC Insurance, Walter de Oude, said if a 65-year-old has S$150,000 in his CPF account, he can expect to receive about S$1,400 every month from CPF Life.
In order to receive a monthly income of S$3,000 during retirement, he will have to supplement his CPF savings with another investment.
- CNA/al
- wong chee tat :)
Security update available for Adobe Shockwave Player
Security update available for Adobe Shockwave Player
Release date: June 14, 2011
Vulnerability identifier: APSB11-17
CVE number: CVE-2011-0317, CVE-2011-0318, CVE-2011-0319, CVE-2011-0320, CVE-2011-0335, CVE-2011-2108, CVE-2011-2109, CVE-2011-2111, CVE-2011-2112, CVE-2011-2113, CVE-2011-2114, CVE-2011-2115, CVE-2011-2116, CVE-2011-2117, CVE-2011-2118, CVE-2011-2119, CVE-2011-2120, CVE-2011-2121, CVE-2011-2122, CVE-2011-2123, CVE-2011-2124, CVE-2011-2125, CVE-2011-2126, CVE-2011-2127
Platform: Windows and Macintosh
Summary
Critical vulnerabilities have been identified in Adobe Shockwave Player 11.5.9.620 and earlier versions on the Windows and Macintosh operating systems. These vulnerabilities could allow an attacker, who successfully exploits these vulnerabilities, to run malicious code on the affected system. Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions update to Adobe Shockwave Player 11.6.0.626 using the instructions provided below.
Affected software versions
Shockwave Player 11.5.9.620 and earlier versions for Windows and Macintosh.
Solution
Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions upgrade to the newest version 11.6.0.626, available here: http://get.adobe.com/shockwave/
Severity rating
Adobe categorizes this as a critical update and recommends that users apply the latest update for their product installation by following the instructions in the "Solution" section above.
Details
Critical vulnerabilities have been identified in Adobe Shockwave Player 11.5.9.620 and earlier versions on the Windows and Macintosh operating systems. These vulnerabilities could allow an attacker, who successfully exploits these vulnerabilities, to run malicious code on the affected system. Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions update to Adobe Shockwave Player 11.6.0.626 using the instructions provided in the "Solution" section above.
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0317).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0318).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0319).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0320).
This update resolves multiple memory corruption vulnerabilities in the Dirapi.dll component that could lead to code execution (CVE-2011-0335).
This update resolves a design flaw that could lead to code execution (CVE-2011-2108).
This update resolves multiple integer overflow vulnerabilities in the Dirapi.dll component that could lead to code execution (CVE-2011-2109).
This update resolves multiple memory corruption vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2111).
This update resolves multiple buffer overflow vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2112).
This update resolves multiple buffer overflow vulnerabilities in the Shockwave3DAsset component that could lead to code execution (CVE-2011-2113).
This update resolves multiple memory corruption vulnerabilities that could lead to code execution (CVE-2011-2114).
This update resolves multiple memory corruption vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2115).
This update resolves a memory corruption vulnerability in the IML32.dll component that could lead to code execution (CVE-2011-2116).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2117).
This update resolves an input validation vulnerability in the FLV ASSET Xtra component that could lead to code execution (CVE-2011-2118).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-2119).
This update resolves an integer overflow vulnerability in the CursorAsset x32 component that could lead to code execution (CVE-2011-2120).
This update resolves an integer overflow vulnerability that could lead to code execution (CVE-2011-2121).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-2122).
This update resolves an integer overflow vulnerability in the Shockwave 3D Asset x32 component that could lead to code execution (CVE-2011-2123).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2124).
This update resolves a buffer overflow vulnerability in the Dirapix.dll component that could lead to code execution (CVE-2011-2125).
This update resolves a buffer overflow vulnerability that could lead to code execution (CVE-2011-2126).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2127).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2128).
Acknowledgments
Adobe would like to thank the following individuals and organizations for reporting the relevant issues and for working with Adobe to help protect our customers:
Honggang Ren of Fortinet's Fortiguard Labs (CVE-2011-0335)
Mark Yason of IBM X-Force Research, IBM Security Solutions (CVE-2011-0335)
Carsten Eiram, Secunia Research (CVE-2011-0335, CVE-2011-2111, CVE-2011-2112, CVE-2011-2117, CVE-2011-2124, CVE-2011-2128)
Aaron Portnoy and Logan Brown, TippingPoint DVLabs (CVE-2011-0335, CVE-2011-2111, CVE-2011-2116)
Aniway (aniway.aniway@gmail.com) through TippingPoint's Zero Day Initiative (CVE-2011-0335, CVE-2011-2113, CVE-2011-2114)
Luigi Auriemma through iDefense Labs (CVE-2011-0335, CVE-2011-2115, CVE-2011-2123)
Will Dormann of CERT (CVE-2011-2108)
Luigi Auriemma through TippingPoint's Zero Day Initiative (CVE-2011-2109, CVE-2011-0335, CVE-2011-2111, CVE-2011-2112, CVE-2011-2119)
Sebastian Apelt through TippingPoint's Zero Day Initiative (CVE-2011-2109, CVE-2011-2120, CVE-2011-2121)
Binaryproof through TippingPoint's Zero Day Initiative (CVE-2011-2112)
Luigi Auriemma and Donato Ferrante through TippingPoint's Zero Day Initiative (CVE-2011-2112)
Rodrigo Rubira Branco - Qualys Vulnerability & Malware Research Team (VMRT) (CVE-2011-2115)
Donato Ferrante through TippingPoint's Zero Day Initiative(CVE-2011-2118)
Celil Ünüver, SignalSEC and BGA (CVE-2011-2122)
- wong chee tat :)
Release date: June 14, 2011
Vulnerability identifier: APSB11-17
CVE number: CVE-2011-0317, CVE-2011-0318, CVE-2011-0319, CVE-2011-0320, CVE-2011-0335, CVE-2011-2108, CVE-2011-2109, CVE-2011-2111, CVE-2011-2112, CVE-2011-2113, CVE-2011-2114, CVE-2011-2115, CVE-2011-2116, CVE-2011-2117, CVE-2011-2118, CVE-2011-2119, CVE-2011-2120, CVE-2011-2121, CVE-2011-2122, CVE-2011-2123, CVE-2011-2124, CVE-2011-2125, CVE-2011-2126, CVE-2011-2127
Platform: Windows and Macintosh
Summary
Critical vulnerabilities have been identified in Adobe Shockwave Player 11.5.9.620 and earlier versions on the Windows and Macintosh operating systems. These vulnerabilities could allow an attacker, who successfully exploits these vulnerabilities, to run malicious code on the affected system. Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions update to Adobe Shockwave Player 11.6.0.626 using the instructions provided below.
Affected software versions
Shockwave Player 11.5.9.620 and earlier versions for Windows and Macintosh.
Solution
Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions upgrade to the newest version 11.6.0.626, available here: http://get.adobe.com/shockwave/
Severity rating
Adobe categorizes this as a critical update and recommends that users apply the latest update for their product installation by following the instructions in the "Solution" section above.
Details
Critical vulnerabilities have been identified in Adobe Shockwave Player 11.5.9.620 and earlier versions on the Windows and Macintosh operating systems. These vulnerabilities could allow an attacker, who successfully exploits these vulnerabilities, to run malicious code on the affected system. Adobe recommends users of Adobe Shockwave Player 11.5.9.620 and earlier versions update to Adobe Shockwave Player 11.6.0.626 using the instructions provided in the "Solution" section above.
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0317).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0318).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0319).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-0320).
This update resolves multiple memory corruption vulnerabilities in the Dirapi.dll component that could lead to code execution (CVE-2011-0335).
This update resolves a design flaw that could lead to code execution (CVE-2011-2108).
This update resolves multiple integer overflow vulnerabilities in the Dirapi.dll component that could lead to code execution (CVE-2011-2109).
This update resolves multiple memory corruption vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2111).
This update resolves multiple buffer overflow vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2112).
This update resolves multiple buffer overflow vulnerabilities in the Shockwave3DAsset component that could lead to code execution (CVE-2011-2113).
This update resolves multiple memory corruption vulnerabilities that could lead to code execution (CVE-2011-2114).
This update resolves multiple memory corruption vulnerabilities in the IML32.dll component that could lead to code execution (CVE-2011-2115).
This update resolves a memory corruption vulnerability in the IML32.dll component that could lead to code execution (CVE-2011-2116).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2117).
This update resolves an input validation vulnerability in the FLV ASSET Xtra component that could lead to code execution (CVE-2011-2118).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-2119).
This update resolves an integer overflow vulnerability in the CursorAsset x32 component that could lead to code execution (CVE-2011-2120).
This update resolves an integer overflow vulnerability that could lead to code execution (CVE-2011-2121).
This update resolves a memory corruption vulnerability in the Dirapi.dll component that could lead to code execution (CVE-2011-2122).
This update resolves an integer overflow vulnerability in the Shockwave 3D Asset x32 component that could lead to code execution (CVE-2011-2123).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2124).
This update resolves a buffer overflow vulnerability in the Dirapix.dll component that could lead to code execution (CVE-2011-2125).
This update resolves a buffer overflow vulnerability that could lead to code execution (CVE-2011-2126).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2127).
This update resolves a memory corruption vulnerability that could lead to code execution (CVE-2011-2128).
Acknowledgments
Adobe would like to thank the following individuals and organizations for reporting the relevant issues and for working with Adobe to help protect our customers:
Honggang Ren of Fortinet's Fortiguard Labs (CVE-2011-0335)
Mark Yason of IBM X-Force Research, IBM Security Solutions (CVE-2011-0335)
Carsten Eiram, Secunia Research (CVE-2011-0335, CVE-2011-2111, CVE-2011-2112, CVE-2011-2117, CVE-2011-2124, CVE-2011-2128)
Aaron Portnoy and Logan Brown, TippingPoint DVLabs (CVE-2011-0335, CVE-2011-2111, CVE-2011-2116)
Aniway (aniway.aniway@gmail.com) through TippingPoint's Zero Day Initiative (CVE-2011-0335, CVE-2011-2113, CVE-2011-2114)
Luigi Auriemma through iDefense Labs (CVE-2011-0335, CVE-2011-2115, CVE-2011-2123)
Will Dormann of CERT (CVE-2011-2108)
Luigi Auriemma through TippingPoint's Zero Day Initiative (CVE-2011-2109, CVE-2011-0335, CVE-2011-2111, CVE-2011-2112, CVE-2011-2119)
Sebastian Apelt through TippingPoint's Zero Day Initiative (CVE-2011-2109, CVE-2011-2120, CVE-2011-2121)
Binaryproof through TippingPoint's Zero Day Initiative (CVE-2011-2112)
Luigi Auriemma and Donato Ferrante through TippingPoint's Zero Day Initiative (CVE-2011-2112)
Rodrigo Rubira Branco - Qualys Vulnerability & Malware Research Team (VMRT) (CVE-2011-2115)
Donato Ferrante through TippingPoint's Zero Day Initiative(CVE-2011-2118)
Celil Ünüver, SignalSEC and BGA (CVE-2011-2122)
- wong chee tat :)
Security update available for Adobe Flash Player
Security update available for Adobe Flash Player
Release date: June 14, 2011
Vulnerability identifier: APSB11-18
CVE number: CVE-2011-2110
Platform: All Platforms
Summary
A critical vulnerability has been identified in Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 10.3.185.23 and earlier versions for Android. This memory corruption vulnerability (CVE-2011-2110) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via malicious Web pages.
Adobe recommends users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris update to Adobe Flash Player 10.3.181.26, available now. Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Note: This issue does not affect the Authplay.dll component that ships with Adobe Reader and Acrobat X (10.0.3) and earlier 10.x and 9.x versions for Windows and Macintosh operating systems.
Affected software versions
Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris operating systems
Adobe Flash Player 10.3.185.23 and earlier versions for Android
To verify the version of Adobe Flash Player installed on your system, access the About Flash Player page, or right-click on content running in Flash Player and select "About Adobe (or Macromedia) Flash Player" from the menu. If you use multiple browsers, perform the check for each browser you have installed on your system.
Solution
Adobe recommends all users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris upgrade to the newest version 10.3.181.26 by downloading it from the Adobe Flash Player Download Center. Windows users and users of Adobe Flash Player 10.3.181.16 or later for Macintosh can install the update via the auto-update mechanism within the product when prompted.
Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Severity rating
Adobe categorizes this as a critical update and recommends users update their installations to the newest versions.
Details
A critical vulnerability has been identified in Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 10.3.185.23 and earlier versions for Android. This memory corruption vulnerability (CVE-2011-2110) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via malicious Web pages.
Adobe recommends users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris update to Adobe Flash Player 10.3.181.26, available now. Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Note: This issue does not affect the Authplay.dll component that ships with Adobe Reader and Acrobat X (10.0.3) and earlier 10.x and 9.x versions for Windows and Macintosh operating systems.
Affected software
Recommended player update
Availability
Flash Player 10.3.181.23 and earlier
10.3.181.26
Flash Player Download Center
Flash Player 10.3.181.23 and earlier -
network distribution
10.3.181.26
Flash Player Licensing
Flash Player integrated with Google Chrome
10.3.181.26
Google Chrome Releases
- wong chee tat :)
Release date: June 14, 2011
Vulnerability identifier: APSB11-18
CVE number: CVE-2011-2110
Platform: All Platforms
Summary
A critical vulnerability has been identified in Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 10.3.185.23 and earlier versions for Android. This memory corruption vulnerability (CVE-2011-2110) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via malicious Web pages.
Adobe recommends users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris update to Adobe Flash Player 10.3.181.26, available now. Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Note: This issue does not affect the Authplay.dll component that ships with Adobe Reader and Acrobat X (10.0.3) and earlier 10.x and 9.x versions for Windows and Macintosh operating systems.
Affected software versions
Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris operating systems
Adobe Flash Player 10.3.185.23 and earlier versions for Android
To verify the version of Adobe Flash Player installed on your system, access the About Flash Player page, or right-click on content running in Flash Player and select "About Adobe (or Macromedia) Flash Player" from the menu. If you use multiple browsers, perform the check for each browser you have installed on your system.
Solution
Adobe recommends all users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris upgrade to the newest version 10.3.181.26 by downloading it from the Adobe Flash Player Download Center. Windows users and users of Adobe Flash Player 10.3.181.16 or later for Macintosh can install the update via the auto-update mechanism within the product when prompted.
Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Severity rating
Adobe categorizes this as a critical update and recommends users update their installations to the newest versions.
Details
A critical vulnerability has been identified in Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 10.3.185.23 and earlier versions for Android. This memory corruption vulnerability (CVE-2011-2110) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via malicious Web pages.
Adobe recommends users of Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris update to Adobe Flash Player 10.3.181.26, available now. Adobe expects to make available an update for Adobe Flash Player 10.3.185.23 and earlier versions for Android before the end of the week of June 13, 2011.
Note: This issue does not affect the Authplay.dll component that ships with Adobe Reader and Acrobat X (10.0.3) and earlier 10.x and 9.x versions for Windows and Macintosh operating systems.
Affected software
Recommended player update
Availability
Flash Player 10.3.181.23 and earlier
10.3.181.26
Flash Player Download Center
Flash Player 10.3.181.23 and earlier -
network distribution
10.3.181.26
Flash Player Licensing
Flash Player integrated with Google Chrome
10.3.181.26
Google Chrome Releases
- wong chee tat :)
Security updates available for Adobe Reader and Acrobat
Security updates available for Adobe Reader and Acrobat
Release date: June 14, 2011
Vulnerability identifier: APSB11-16
CVE numbers: CVE-2011-2094, CVE-2011-2095, CVE-2011-2096, CVE-2011-2097, CVE-2011-2098, CVE-2011-2099, CVE-2011-2100, CVE-2011-2101, CVE-2011-2102, CVE-2011-2103, CVE-2011-2104, CVE-2011-2105, CVE-2011-2106
Platform: Windows and Macintosh
Summary
Critical vulnerabilities have been identified in Adobe Reader X (10.0.1) and earlier versions for Windows, Adobe Reader X (10.0.3) and earlier versions for Macintosh, and Adobe Acrobat X (10.0.3) and earlier versions for Windows and Macintosh. These vulnerabilities could cause the application to crash and potentially allow an attacker to take control of the affected system.
These updates also incorporate the Adobe Flash Player updates as noted in Security Bulletin APSB11-12 and Security Bulletin APSB11-13.
Adobe recommends users of Adobe Reader X (10.0.3) and earlier versions for Windows and Macintosh update to Adobe Reader X (10.1). For users of Adobe Reader 9.4.4 and earlier versions for Windows and Macintosh, who cannot update to Adobe Reader X (10.1), Adobe has made available updates, Adobe Reader 9.4.5 and Adobe Reader 8.3. Adobe recommends users of Adobe Acrobat X (10.0.3) for Windows and Macintosh update to Adobe Acrobat X (10.1). Adobe recommends users of Adobe Acrobat 9.4.4 and earlier versions for Windows and Macintosh update to Adobe Acrobat 9.4.5, and users of Adobe Acrobat 8.2.6 and earlier versions for Windows and Macintosh update to Adobe Acrobat 8.3.
The next quarterly security updates for Adobe Reader and Acrobat are currently scheduled for September 13, 2011.
Affected software versions
Adobe Reader X (10.0.1) and earlier 10.x versions for Windows
Adobe Reader X (10.0.3) and earlier 10.x versions for Macintosh
Adobe Reader 9.4.4 and earlier 9.x versions for Windows and Macintosh
Adobe Reader 8.2.6 and earlier 8.x versions for Windows and Macintosh
Adobe Acrobat X (10.0.3) and earlier 10.x versions for Windows and Macintosh
Adobe Acrobat 9.4.4 and earlier 9.x versions for Windows and Macintosh
Adobe Acrobat 8.2.6 and earlier 8.x versions for Windows and Macintosh
Solution
Adobe recommends users update their software installations by following the instructions below:
Adobe Reader
Users can utilize the product's update mechanism. The default configuration is set to run automatic update checks on a regular schedule. Update checks can be manually activated by choosing Help > Check for Updates.
Adobe Reader users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=10&platform=Windows.
Adobe Reader users on Macintosh can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=10&platform=Macintosh.
Adobe Acrobat
Users can utilize the product's update mechanism. The default configuration is set to run automatic update checks on a regular schedule. Update checks can be manually activated by choosing Help > Check for Updates.
Acrobat Standard and Pro users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Windows.
Acrobat Pro Extended users on Windows can also find the appropriate update here: http://www.adobe.com/support/downloads/product.jsp?product=158&platform=Windows.
Acrobat 3D users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=112&platform=Windows.
Acrobat Pro users on Macintosh can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Macintosh.
Severity rating
Adobe categorizes these as critical updates and recommends that users apply the latest updates for their product installations by following the instructions in the "Solution" section above.
Details
Critical vulnerabilities have been identified in Adobe Reader X (10.0.1) and earlier versions for Windows, Adobe Reader X (10.0.3) and earlier versions for Macintosh, and Adobe Acrobat X (10.0.3) and earlier versions for Windows and Macintosh. These vulnerabilities could cause the application to crash and potentially allow an attacker to take control of the affected system.
Adobe recommends users of Adobe Reader X (10.x) and earlier versions for Windows and Macintosh update to Adobe Reader X (10.1). For users of Adobe Reader 9.4.4 and earlier versions for Windows and Macintosh, who cannot update to Adobe Reader X (10.1), Adobe has made available updates, Adobe Reader 9.4.5 and Adobe Reader 8.3. Adobe recommends users of Adobe Acrobat X (10.0.3) for Windows and Macintosh update to Adobe Acrobat X (10.1). Adobe recommends users of Adobe Acrobat 9.4.4 and earlier versions for Windows and Macintosh update to Adobe Acrobat 9.4.5, and users of Adobe Acrobat 8.2.6 and earlier versions for Windows and Macintosh update to Adobe Acrobat 8.3.
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2094).
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2095).
These updates resolve a heap overflow vulnerability that could lead to code execution (CVE-2011-2096).
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2097).
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2098).
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2099).
These updates resolve a DLL loading vulnerability that could lead to code execution (CVE-2011-2100).
These updates resolve a cross document script execution vulnerability that could lead to code execution (CVE-2011-2101).
These updates resolve a security bypass vulnerability (CVE-2011-2102).
Note: Update is for Adobe Reader and Acrobat X (10.x) only.
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2103).
Note: Affects 8.x versions only.
These updates resolve a memory corruption denial of service (CVE-2011-2104).
These updates resolve a memory corruption (CVE-2011-2105).
These updates resolve a memory corruption vulnerability that could lead to code execution (Macintosh only) (CVE-2011-2106).
These updates also incorporate the Adobe Flash Player update as noted in Security Bulletin APSB11-12 and Security Bulletin APSB11-13.
The next quarterly security updates for Adobe Reader and Acrobat are currently scheduled for September 13, 2011.
Acknowledgements
Adobe would like to thank the following individuals and organizations for reporting the relevant issues and for working with Adobe to help protect our customers:
An anonymous reporter through TippingPoint's Zero Day Initiative (CVE-2011-2094)
An anonymous reporter through TippingPoint's Zero Day Initiative (CVE-2011-2095)
Tarjei Mandt of Norman (CVE-2011-2096, CVE-2011-2099)
Secunia Research (CVE-2011-2097)
Rodrigo Rubira Branco (CVE-2011-2098)
Mila Parkour (CVE-2011-2100)
Billy Rios from the Google Security Team (CVE-2011-2101)
Christian Navarrete of CubilFelino Security Research Lab (CVE-2011-2102)
Tavis Ormandy of the Google Security Team (CVE-2011-2103)
Brett Gervasoni of Sense of Security (CVE-2011-2104)
Will Dormann of CERT (CVE-2011-2105)
James Quirk of Los Alamos, New Mexico (CVE-2011-2106)
- wong chee tat :)
Release date: June 14, 2011
Vulnerability identifier: APSB11-16
CVE numbers: CVE-2011-2094, CVE-2011-2095, CVE-2011-2096, CVE-2011-2097, CVE-2011-2098, CVE-2011-2099, CVE-2011-2100, CVE-2011-2101, CVE-2011-2102, CVE-2011-2103, CVE-2011-2104, CVE-2011-2105, CVE-2011-2106
Platform: Windows and Macintosh
Summary
Critical vulnerabilities have been identified in Adobe Reader X (10.0.1) and earlier versions for Windows, Adobe Reader X (10.0.3) and earlier versions for Macintosh, and Adobe Acrobat X (10.0.3) and earlier versions for Windows and Macintosh. These vulnerabilities could cause the application to crash and potentially allow an attacker to take control of the affected system.
These updates also incorporate the Adobe Flash Player updates as noted in Security Bulletin APSB11-12 and Security Bulletin APSB11-13.
Adobe recommends users of Adobe Reader X (10.0.3) and earlier versions for Windows and Macintosh update to Adobe Reader X (10.1). For users of Adobe Reader 9.4.4 and earlier versions for Windows and Macintosh, who cannot update to Adobe Reader X (10.1), Adobe has made available updates, Adobe Reader 9.4.5 and Adobe Reader 8.3. Adobe recommends users of Adobe Acrobat X (10.0.3) for Windows and Macintosh update to Adobe Acrobat X (10.1). Adobe recommends users of Adobe Acrobat 9.4.4 and earlier versions for Windows and Macintosh update to Adobe Acrobat 9.4.5, and users of Adobe Acrobat 8.2.6 and earlier versions for Windows and Macintosh update to Adobe Acrobat 8.3.
The next quarterly security updates for Adobe Reader and Acrobat are currently scheduled for September 13, 2011.
Affected software versions
Adobe Reader X (10.0.1) and earlier 10.x versions for Windows
Adobe Reader X (10.0.3) and earlier 10.x versions for Macintosh
Adobe Reader 9.4.4 and earlier 9.x versions for Windows and Macintosh
Adobe Reader 8.2.6 and earlier 8.x versions for Windows and Macintosh
Adobe Acrobat X (10.0.3) and earlier 10.x versions for Windows and Macintosh
Adobe Acrobat 9.4.4 and earlier 9.x versions for Windows and Macintosh
Adobe Acrobat 8.2.6 and earlier 8.x versions for Windows and Macintosh
Solution
Adobe recommends users update their software installations by following the instructions below:
Adobe Reader
Users can utilize the product's update mechanism. The default configuration is set to run automatic update checks on a regular schedule. Update checks can be manually activated by choosing Help > Check for Updates.
Adobe Reader users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=10&platform=Windows.
Adobe Reader users on Macintosh can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=10&platform=Macintosh.
Adobe Acrobat
Users can utilize the product's update mechanism. The default configuration is set to run automatic update checks on a regular schedule. Update checks can be manually activated by choosing Help > Check for Updates.
Acrobat Standard and Pro users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Windows.
Acrobat Pro Extended users on Windows can also find the appropriate update here: http://www.adobe.com/support/downloads/product.jsp?product=158&platform=Windows.
Acrobat 3D users on Windows can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=112&platform=Windows.
Acrobat Pro users on Macintosh can also find the appropriate update here:
http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Macintosh.
Severity rating
Adobe categorizes these as critical updates and recommends that users apply the latest updates for their product installations by following the instructions in the "Solution" section above.
Details
Critical vulnerabilities have been identified in Adobe Reader X (10.0.1) and earlier versions for Windows, Adobe Reader X (10.0.3) and earlier versions for Macintosh, and Adobe Acrobat X (10.0.3) and earlier versions for Windows and Macintosh. These vulnerabilities could cause the application to crash and potentially allow an attacker to take control of the affected system.
Adobe recommends users of Adobe Reader X (10.x) and earlier versions for Windows and Macintosh update to Adobe Reader X (10.1). For users of Adobe Reader 9.4.4 and earlier versions for Windows and Macintosh, who cannot update to Adobe Reader X (10.1), Adobe has made available updates, Adobe Reader 9.4.5 and Adobe Reader 8.3. Adobe recommends users of Adobe Acrobat X (10.0.3) for Windows and Macintosh update to Adobe Acrobat X (10.1). Adobe recommends users of Adobe Acrobat 9.4.4 and earlier versions for Windows and Macintosh update to Adobe Acrobat 9.4.5, and users of Adobe Acrobat 8.2.6 and earlier versions for Windows and Macintosh update to Adobe Acrobat 8.3.
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2094).
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2095).
These updates resolve a heap overflow vulnerability that could lead to code execution (CVE-2011-2096).
These updates resolve a buffer overflow vulnerability that could lead to code execution (CVE-2011-2097).
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2098).
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2099).
These updates resolve a DLL loading vulnerability that could lead to code execution (CVE-2011-2100).
These updates resolve a cross document script execution vulnerability that could lead to code execution (CVE-2011-2101).
These updates resolve a security bypass vulnerability (CVE-2011-2102).
Note: Update is for Adobe Reader and Acrobat X (10.x) only.
These updates resolve a memory corruption vulnerability that could lead to code execution (CVE-2011-2103).
Note: Affects 8.x versions only.
These updates resolve a memory corruption denial of service (CVE-2011-2104).
These updates resolve a memory corruption (CVE-2011-2105).
These updates resolve a memory corruption vulnerability that could lead to code execution (Macintosh only) (CVE-2011-2106).
These updates also incorporate the Adobe Flash Player update as noted in Security Bulletin APSB11-12 and Security Bulletin APSB11-13.
The next quarterly security updates for Adobe Reader and Acrobat are currently scheduled for September 13, 2011.
Acknowledgements
Adobe would like to thank the following individuals and organizations for reporting the relevant issues and for working with Adobe to help protect our customers:
An anonymous reporter through TippingPoint's Zero Day Initiative (CVE-2011-2094)
An anonymous reporter through TippingPoint's Zero Day Initiative (CVE-2011-2095)
Tarjei Mandt of Norman (CVE-2011-2096, CVE-2011-2099)
Secunia Research (CVE-2011-2097)
Rodrigo Rubira Branco (CVE-2011-2098)
Mila Parkour (CVE-2011-2100)
Billy Rios from the Google Security Team (CVE-2011-2101)
Christian Navarrete of CubilFelino Security Research Lab (CVE-2011-2102)
Tavis Ormandy of the Google Security Team (CVE-2011-2103)
Brett Gervasoni of Sense of Security (CVE-2011-2104)
Will Dormann of CERT (CVE-2011-2105)
James Quirk of Los Alamos, New Mexico (CVE-2011-2106)
- wong chee tat :)
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