9 firms in Tuas asked to relocate to make way for MRT extension
By Ng Lian Cheong | Posted: 12 January 2011 2101 hrs
SINGAPORE: The government will acquire some of the land in the Tuas industrial estate to build the MRT extension in Tuas West.
Nine commercial buildings in the affected areas have been asked to relocate within two years.
These companies say they are concerned if they have suitable places to move to, and they hope the authorities can help them.
MediaCorp understands that the Singapore Land Authority (SLA) has asked the affected parties to assess the value of their factories and the compensation involved.
One of the affected companies, AnnAik, sits on Pioneer Road. Its board of directors told the company's shareholders that it was served the notice to relocate and that the price of its shares was not affected by the news.
In Tuas West, Liten Logistics Services had cleared out its warehouse as it was planning to renovate it. But now, it will have to change its plans.
- CNA/ir
- wong chee tat :)
Sunday, January 16, 2011
Average waiting time for BTO flats is 32 months
Average waiting time for BTO flats is 32 months
By Satish Cheney | Posted: 11 January 2011 2145 hrs
SINGAPORE : A typical Build-To-Order (BTO) project comprising five blocks of not more than 20 storeys took an average 32 months to complete in the last two years.
Based on this, the HDB is confident that its contractors will be able to build and deliver most of the flats in about 2.5 years or 30 months, without compromising quality and structural safety.
This is according to National Development Minister Mah Bow Tan who was responding to MP Ho Geok Choo who asked if HDB is confident it can complete the construction of flats.
In his written statement, Mr Mah said: "Construction may also take longer if it is affected by factors such as poor soil conditions, site constraints or complex design features. The longest construction time for a typical BTO project over the last 20 BTO projects has been 42 months while the shortest was just 26 months."
Mr Mah said HDB is also working with contractors and suppliers to shorten the construction period.
He said this is being done by increasing resources, enhancing and streamlining work processes, and raising site productivity.
The estimate is that buyers of typical BTO projects launched from mid-2011 will generally need to wait 30 months to collect their keys after booking their flats.
- CNA /ls
- wong chee tat :)
By Satish Cheney | Posted: 11 January 2011 2145 hrs
SINGAPORE : A typical Build-To-Order (BTO) project comprising five blocks of not more than 20 storeys took an average 32 months to complete in the last two years.
Based on this, the HDB is confident that its contractors will be able to build and deliver most of the flats in about 2.5 years or 30 months, without compromising quality and structural safety.
This is according to National Development Minister Mah Bow Tan who was responding to MP Ho Geok Choo who asked if HDB is confident it can complete the construction of flats.
In his written statement, Mr Mah said: "Construction may also take longer if it is affected by factors such as poor soil conditions, site constraints or complex design features. The longest construction time for a typical BTO project over the last 20 BTO projects has been 42 months while the shortest was just 26 months."
Mr Mah said HDB is also working with contractors and suppliers to shorten the construction period.
He said this is being done by increasing resources, enhancing and streamlining work processes, and raising site productivity.
The estimate is that buyers of typical BTO projects launched from mid-2011 will generally need to wait 30 months to collect their keys after booking their flats.
- CNA /ls
- wong chee tat :)
More shopping online, says MasterCard
More shopping online, says MasterCard
By Mustafa Shafawi | Posted: 10 January 2011 1615 hrs
SINGAPORE : Nearly two-thirds or 64 per cent of respondents in a MasterCard survey said they now shop online, up from 56 per cent last year.
Singaporean women continued to out-shop their male counterparts
Nearly 7 in 10 or 68 per cent of female respondents said they shopped online, compared to 6 in 10 male respondents.
Female online shoppers also purchased an average of 5 items online in the last three months, more than the male shoppers' average of 4.2 items.
The most common items purchased online remained the same as previous years.
They include airline tickets (52%), hotel accommodations (43%), movie or concert tickets (41%), clothing and accessories (36%) and books & art (25%).
MasterCard country manager for Singapore, Julienne Loh said the steady increase in the popularity of online shopping is backed by high levels of broadband and mobile connectivity as consumers proactively seek more personal and convenient ways to shop.
Consumers in Singapore who did not make any purchases online in the last three months cited a preference to shop in-store with physical products as the primary reason for not shopping online.
Respondents were also surveyed on their online shopping habits through mobile phones for the first time.
12 per cent of respondents in Singapore made purchases on their mobile phones in the last three months.
- CNA /ls
- wong chee tat :)
By Mustafa Shafawi | Posted: 10 January 2011 1615 hrs
SINGAPORE : Nearly two-thirds or 64 per cent of respondents in a MasterCard survey said they now shop online, up from 56 per cent last year.
Singaporean women continued to out-shop their male counterparts
Nearly 7 in 10 or 68 per cent of female respondents said they shopped online, compared to 6 in 10 male respondents.
Female online shoppers also purchased an average of 5 items online in the last three months, more than the male shoppers' average of 4.2 items.
The most common items purchased online remained the same as previous years.
They include airline tickets (52%), hotel accommodations (43%), movie or concert tickets (41%), clothing and accessories (36%) and books & art (25%).
MasterCard country manager for Singapore, Julienne Loh said the steady increase in the popularity of online shopping is backed by high levels of broadband and mobile connectivity as consumers proactively seek more personal and convenient ways to shop.
Consumers in Singapore who did not make any purchases online in the last three months cited a preference to shop in-store with physical products as the primary reason for not shopping online.
Respondents were also surveyed on their online shopping habits through mobile phones for the first time.
12 per cent of respondents in Singapore made purchases on their mobile phones in the last three months.
- CNA /ls
- wong chee tat :)
S'pore economy risks over heating
S'pore economy risks over heating
Posted: 10 January 2011 1415 hrs
SINGAPORE: There would be no need for stimulus measures in Singapore this year, Senior Minister of State for Trade and Industry S Iswaran said in Parliament on Monday.
In fact, he said Singapore would need to be watchful of over-heating risks and rising inflationary pressures as the labour market tightens and capacity constraints become more binding.
Over-heating follows a prolonged period of good economic growth leading to higher levels of inflation, which could adversely impact economic prosperity.
Mr Iswaran added that expected growth of four to six per cent for this year would still be above the government's medium-term growth potential estimate of around three to five per cent per annum.
The single-digit growth would follow last year's double-digit GDP growth of almost 15 per cent, which Mr Iswaran called "exceptional and therefore not an appropriate indication of Singapore's longer term growth potential".
Going forward, Mr Iswaran said that with the economy at "full employment" as the jobless rate hovers around 2%, the emphasis would be on raising workforce productivity and increasing economic competitiveness over the medium term.
With a deluge of cheap money making everything from commodities to real estate more expensive, analysts expect further tightening measures from the Monetary Authority of Singapore (MAS).
Vishnu Varathan, an economist at Capital Economics, said: "I think the policy makers are aware that to some extent Singapore's economy is dependent on how the global economy is. So, in the region, it is imperative other countries such as China and India get a grip on inflation.
"MAS is on top of this.....Contrary to what may have been the consensus 6 to 8 months ago, there will not be a need to recant a tighter monetary policy. I think if there is going to be any policy change, the risk is that MAS might do a one-off tightening move to ensure that inflationary expectations remain well anchored. The risk of this move is rising given that inflation has picked up strongly, and growth performance in the region still seems to be quite good."
Finance Minister Tharman Shanmugaratnam, who also spoke in Parliament on Monday, said that Singapore inflation is expected to rise further in the first quarter of this year before it starts to moderate.
Singapore's consumer price index (CPI) rose 3.8% on-year in November 2010.
Excluding the rise in COE premiums, inflation during January to November last year was about 1.3 percent, led by rising commodity prices, said Mr Tharman.
Still, some analysts expect inflation in 2011 to exceed 3%.
And with the 2011 Singapore Budget just around the corner, some analysts said that those in the lower income brackets should be given more help to cope with rising costs.
Selena Ling, head of Treasury research and strategy at OCBC, said: "I guess the government can do some of the income transfers, especially those going to the lower income households and the elderly.....in terms of the areas like education, healthcare.....as well as top-ups into various accounts."
-CNA/wk/ir
- wong chee tat :)
Posted: 10 January 2011 1415 hrs
SINGAPORE: There would be no need for stimulus measures in Singapore this year, Senior Minister of State for Trade and Industry S Iswaran said in Parliament on Monday.
In fact, he said Singapore would need to be watchful of over-heating risks and rising inflationary pressures as the labour market tightens and capacity constraints become more binding.
Over-heating follows a prolonged period of good economic growth leading to higher levels of inflation, which could adversely impact economic prosperity.
Mr Iswaran added that expected growth of four to six per cent for this year would still be above the government's medium-term growth potential estimate of around three to five per cent per annum.
The single-digit growth would follow last year's double-digit GDP growth of almost 15 per cent, which Mr Iswaran called "exceptional and therefore not an appropriate indication of Singapore's longer term growth potential".
Going forward, Mr Iswaran said that with the economy at "full employment" as the jobless rate hovers around 2%, the emphasis would be on raising workforce productivity and increasing economic competitiveness over the medium term.
With a deluge of cheap money making everything from commodities to real estate more expensive, analysts expect further tightening measures from the Monetary Authority of Singapore (MAS).
Vishnu Varathan, an economist at Capital Economics, said: "I think the policy makers are aware that to some extent Singapore's economy is dependent on how the global economy is. So, in the region, it is imperative other countries such as China and India get a grip on inflation.
"MAS is on top of this.....Contrary to what may have been the consensus 6 to 8 months ago, there will not be a need to recant a tighter monetary policy. I think if there is going to be any policy change, the risk is that MAS might do a one-off tightening move to ensure that inflationary expectations remain well anchored. The risk of this move is rising given that inflation has picked up strongly, and growth performance in the region still seems to be quite good."
Finance Minister Tharman Shanmugaratnam, who also spoke in Parliament on Monday, said that Singapore inflation is expected to rise further in the first quarter of this year before it starts to moderate.
Singapore's consumer price index (CPI) rose 3.8% on-year in November 2010.
Excluding the rise in COE premiums, inflation during January to November last year was about 1.3 percent, led by rising commodity prices, said Mr Tharman.
Still, some analysts expect inflation in 2011 to exceed 3%.
And with the 2011 Singapore Budget just around the corner, some analysts said that those in the lower income brackets should be given more help to cope with rising costs.
Selena Ling, head of Treasury research and strategy at OCBC, said: "I guess the government can do some of the income transfers, especially those going to the lower income households and the elderly.....in terms of the areas like education, healthcare.....as well as top-ups into various accounts."
-CNA/wk/ir
- wong chee tat :)
Inflation expected to rise further in Q1
Inflation expected to rise further in Q1
By Dylan Loh | Posted: 10 January 2011 1632 hrs
SINGAPORE : Finance Minister Tharman Shanmugaratnam warns that inflation is expected to rise further in the first quarter of this year, but will moderate in subsequent quarters.
The Consumer Price Index hit 3.8 per cent in November 2010.
Mr Tharman said excluding the increase in COE premiums, inflation during January to November last year was about 1.3 per cent. This was due mainly to increases in various food and oil prices.
He said the government is watching the increase in living costs closely, and has provided significant assistance to low-income Singaporeans through various schemes over the last year.
The Finance Minister said: "Take for example a retiree couple living in a 3-room flat. They would have received a total of $1,200 in benefits last year. This would have exceeded the total increase in costs that such households would have faced as a result of rising food, utilities and other prices.
"This approach will continue in the upcoming Budget. The government will take into account the impact of inflation and the needs of low-income and retiree households when considering further transfers."
Mr Tharman said the best way to help Singaporeans will be to grow the economy in a sustainable way and raise skills to help grow wages, which will remain the government's central strategy.
- CNA /ls
- wong chee tat :)
By Dylan Loh | Posted: 10 January 2011 1632 hrs
SINGAPORE : Finance Minister Tharman Shanmugaratnam warns that inflation is expected to rise further in the first quarter of this year, but will moderate in subsequent quarters.
The Consumer Price Index hit 3.8 per cent in November 2010.
Mr Tharman said excluding the increase in COE premiums, inflation during January to November last year was about 1.3 per cent. This was due mainly to increases in various food and oil prices.
He said the government is watching the increase in living costs closely, and has provided significant assistance to low-income Singaporeans through various schemes over the last year.
The Finance Minister said: "Take for example a retiree couple living in a 3-room flat. They would have received a total of $1,200 in benefits last year. This would have exceeded the total increase in costs that such households would have faced as a result of rising food, utilities and other prices.
"This approach will continue in the upcoming Budget. The government will take into account the impact of inflation and the needs of low-income and retiree households when considering further transfers."
Mr Tharman said the best way to help Singaporeans will be to grow the economy in a sustainable way and raise skills to help grow wages, which will remain the government's central strategy.
- CNA /ls
- wong chee tat :)
Land at Yuan Ching Rd sold for DBSS development
Land at Yuan Ching Rd sold for DBSS development
By Azhar Khalid | Posted: 10 January 2011 2217 hrs
SINGAPORE: The Housing and Development Board (HDB) says that a plot of land that went up for sale at Yuan Ching Road has been sold.
The site was awarded on Monday to joint bidders Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd, at the tender price of S$131.6 million.
The tender for the 21,199.7 square-metre site was launched on November 16 last year and it will be used for public housing under the Design, Build and Sell Scheme (DBSS).
The HDB estimates 580 units will be built on the site, which has a lease term of 103 years including a 48-month construction period.
The site is located near the Jurong Lake District, which will be developed into a unique lakeside destination for business and leisure.
- CNA/ir
- wong chee tat :)
By Azhar Khalid | Posted: 10 January 2011 2217 hrs
SINGAPORE: The Housing and Development Board (HDB) says that a plot of land that went up for sale at Yuan Ching Road has been sold.
The site was awarded on Monday to joint bidders Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd, at the tender price of S$131.6 million.
The tender for the 21,199.7 square-metre site was launched on November 16 last year and it will be used for public housing under the Design, Build and Sell Scheme (DBSS).
The HDB estimates 580 units will be built on the site, which has a lease term of 103 years including a 48-month construction period.
The site is located near the Jurong Lake District, which will be developed into a unique lakeside destination for business and leisure.
- CNA/ir
- wong chee tat :)
677 applications received for Lease Buyback Scheme
677 applications received for Lease Buyback Scheme
Posted: 10 January 2011 2327 hrs
SINGAPORE: The HDB has received 677 applications for the Lease Buyback Scheme, as at 31 December 2010.
338 cases have been approved. Of these, 321 have started receiving their monthly payouts, while the remaining 17 will receive them by this month. The average monthly payout is S$622.
112 applications were rejected because the applicants did not meet the prevailing eligibility criteria. Another 50 applications were cancelled by the flat owners after re-consideration.
The remaining 177 applications are being processed.
Minister for National Development, Mr Mah Bow Tan, said this in a written reply to a parliamentary question on Monday.
The Lease Buyback Scheme was introduced on 1 March 2009 to allow elderly owners of HDB flats to monetise their units, by selling the tail-end of their flat lease back to HDB in return for cash in monthly payouts.
The government buys back at market valuation, leaving a 30-year lease for the household.
The owner may then use the cash to buy a CPF Life annuity, which assures a monthly income for life.
The scheme is aimed at low-income residents who need financial assistance and who are unable to buy a smaller flat or sublet a room.
Owners of 2- and 3-room flats are eligible, as well as those who previously owned a 4-room or bigger flat but are currently living in a 3-room or smaller flat.
- CNA/ir
- wong chee tat :)
Posted: 10 January 2011 2327 hrs
SINGAPORE: The HDB has received 677 applications for the Lease Buyback Scheme, as at 31 December 2010.
338 cases have been approved. Of these, 321 have started receiving their monthly payouts, while the remaining 17 will receive them by this month. The average monthly payout is S$622.
112 applications were rejected because the applicants did not meet the prevailing eligibility criteria. Another 50 applications were cancelled by the flat owners after re-consideration.
The remaining 177 applications are being processed.
Minister for National Development, Mr Mah Bow Tan, said this in a written reply to a parliamentary question on Monday.
The Lease Buyback Scheme was introduced on 1 March 2009 to allow elderly owners of HDB flats to monetise their units, by selling the tail-end of their flat lease back to HDB in return for cash in monthly payouts.
The government buys back at market valuation, leaving a 30-year lease for the household.
The owner may then use the cash to buy a CPF Life annuity, which assures a monthly income for life.
The scheme is aimed at low-income residents who need financial assistance and who are unable to buy a smaller flat or sublet a room.
Owners of 2- and 3-room flats are eligible, as well as those who previously owned a 4-room or bigger flat but are currently living in a 3-room or smaller flat.
- CNA/ir
- wong chee tat :)
Bt Panjang LRT broke down 32 times between 2008 and 2010
Bt Panjang LRT broke down 32 times between 2008 and 2010
Posted: 10 January 2011 2326 hrs
SINGAPORE : In September 2009, commuters had to endure a four-hour disruption of the Bukit Panjang Light Rail Transit (LRT).
That was the worst of 32 such incidents between 2008 and November 2010, each exceeding 10 minutes.
Of these, eight lasted longer than half an hour.
This was revealed in Parliament by Transport Minister Raymond Lim, who said the majority of the breakdowns were due to technical faults to the signalling system or trains, with the remainder due to track intrusions or extreme weather events.
He said light rail operator SMRT is required to meet certain performance standards, such as ensuring that LRT services are available 99.5 per cent in any month.
And Bukit Panjang LRT has been able to meet that target in the last three years, averaging 99.93 per cent each month.
Mr Lim added that there are processes in place to minimise the inconvenience to commuters.
For instance, in a recent incident in November where commuters had to be evacuated by walking along the viaduct, SMRT staff were deployed to guide them back to the platform.
- CNA /ls
- wong chee tat :)
Posted: 10 January 2011 2326 hrs
SINGAPORE : In September 2009, commuters had to endure a four-hour disruption of the Bukit Panjang Light Rail Transit (LRT).
That was the worst of 32 such incidents between 2008 and November 2010, each exceeding 10 minutes.
Of these, eight lasted longer than half an hour.
This was revealed in Parliament by Transport Minister Raymond Lim, who said the majority of the breakdowns were due to technical faults to the signalling system or trains, with the remainder due to track intrusions or extreme weather events.
He said light rail operator SMRT is required to meet certain performance standards, such as ensuring that LRT services are available 99.5 per cent in any month.
And Bukit Panjang LRT has been able to meet that target in the last three years, averaging 99.93 per cent each month.
Mr Lim added that there are processes in place to minimise the inconvenience to commuters.
For instance, in a recent incident in November where commuters had to be evacuated by walking along the viaduct, SMRT staff were deployed to guide them back to the platform.
- CNA /ls
- wong chee tat :)
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