LinkedIn opens Asia office in Singapore
Posted: 31 May 2011 1628 hrs
SINGAPORE: Professional networking platform LinkedIn on Tuesday opened its regional headquarters in Singapore and plans to use the city-state as a base to expand its Asia-Pacific presence.
"We chose Singapore's location for a few reasons, one because its the regional hub for so many multinational companies, many of whom are already our customers on a global basis," regional managing director Arvind Rajan said at a media briefing.
"Part of the reason that we're moving out here is to also use Singapore as a hub through which we'll look at opportunities to expand physically throughout the APAC (Asia-Pacific) region," he added.
Singapore, with its business-friendly environment and choice geographical location, is popular as a regional base for multinational companies that want to expand into Asia's booming economies.
"From March of last year to March of this year, we grew 130 percent in APAC so we're seeing a really rapid growth already and we think that by having a presence here, by expanding our footprint in Asia, we think we'll see continued sustained growth," said Rajan.
The Singapore office will oversee sales, finance, marketing and human resource functions for the region and plans to expand into Japan later this year, he said.
The US-listed firm has more than 100 million members from 200 countries as of March 2011, with over 18 million of them from the region, a company factsheet showed.
LinkedIn is the second online networking site to set up shop in Singapore after Facebook inaugurated its Asian sales office last year.
It listed early this month on the New York Stock Exchange and is the first major US social-network firm to go public.
-AFP/ac
- wong chee tat :)
Monday, June 6, 2011
ST Engineering, NTU & DSO set up joint venture firm
ST Engineering, NTU & DSO set up joint venture firm
Posted: 31 May 2011 2221 hrs
SINGAPORE : ST Engineering has set up ST Electronics (Satellite Systems), a joint venture company, with Nanyang Technological University (NTU) and DSO National Laboratories.
The new company will design, develop and produce advanced earth observation satellites.
It said it would offer a more comprehensive suite of satellite and earth observation solutions and services to its customers.
Research, development and manufacturing of products and services for the satellites will be undertaken by DSO and NTU.
ST Electronics said the joint venture would develop and take satellite technologies in Singapore into the global market.
- CNA/al
- wong chee tat :)
Posted: 31 May 2011 2221 hrs
SINGAPORE : ST Engineering has set up ST Electronics (Satellite Systems), a joint venture company, with Nanyang Technological University (NTU) and DSO National Laboratories.
The new company will design, develop and produce advanced earth observation satellites.
It said it would offer a more comprehensive suite of satellite and earth observation solutions and services to its customers.
Research, development and manufacturing of products and services for the satellites will be undertaken by DSO and NTU.
ST Electronics said the joint venture would develop and take satellite technologies in Singapore into the global market.
- CNA/al
- wong chee tat :)
Dragon Mansion up for en bloc sale
Dragon Mansion up for en bloc sale
By Jo-ann Huang | Posted: 30 May 2011 1940 hrs
SINGAPORE: Prime residential freehold property Dragon Mansion at 14 Spottiswoode Park has been put up for collective sale tender by its sole marketing agent Jones Lang LaSalle.
Another Dragon Mansion site, located at 18 Spottiswoode Park, was sold to Roxy Pacific subsidiary Roxy Land in December 2009 for S$100.8 million. It has since been redeveloped into the new Spottiswoode 18.
The land site for sale has a redevelopment area of 39,176 square feet.
It includes another land site housing a substation.
The redevelopment area has a gross plot ratio of 2.8 and its new property can be built up to 36 storeys.
There is no development charge payable on the site.
Subject to approval, an adjoining state land of 1,167 square feet costing about S$1.22 million could be added into the redevelopment area.
This will bring the total land area including the state land to a potential gross floor area of 112,959 square feet.
It can yield about 112 apartment units at 950 square feet each, said Jones Lang LaSalle.
Dragon Mansion comprises an 18-storey block with 68 units at 1,324 square feet each.
It is within walking distance to Outram MRT Station and Tanjong Pagar MRT Station, and a short drive away from the central business districts and daily amenities.
The indicative price for Dragon Mansion is between S$150 million and S$156 million, or from S$1,340 to S$1,392 per square foot per plot ratio, said Jones Lang LaSalle.
Jones Lang LaSelle's head of investments Stella Hoh said: "The subject site offers the potential developer an opportunity to acquire a prime piece of land in the CBD fringe area.
"Rejuvenation of Tanjong Pagar such as the relocation of the port and railway station and plans for Tanjong Pagar to be the next 'waterfront city' will inevitably add value to the potential of the subject site".
-CNA/wk
- wong chee tat :)
By Jo-ann Huang | Posted: 30 May 2011 1940 hrs
SINGAPORE: Prime residential freehold property Dragon Mansion at 14 Spottiswoode Park has been put up for collective sale tender by its sole marketing agent Jones Lang LaSalle.
Another Dragon Mansion site, located at 18 Spottiswoode Park, was sold to Roxy Pacific subsidiary Roxy Land in December 2009 for S$100.8 million. It has since been redeveloped into the new Spottiswoode 18.
The land site for sale has a redevelopment area of 39,176 square feet.
It includes another land site housing a substation.
The redevelopment area has a gross plot ratio of 2.8 and its new property can be built up to 36 storeys.
There is no development charge payable on the site.
Subject to approval, an adjoining state land of 1,167 square feet costing about S$1.22 million could be added into the redevelopment area.
This will bring the total land area including the state land to a potential gross floor area of 112,959 square feet.
It can yield about 112 apartment units at 950 square feet each, said Jones Lang LaSalle.
Dragon Mansion comprises an 18-storey block with 68 units at 1,324 square feet each.
It is within walking distance to Outram MRT Station and Tanjong Pagar MRT Station, and a short drive away from the central business districts and daily amenities.
The indicative price for Dragon Mansion is between S$150 million and S$156 million, or from S$1,340 to S$1,392 per square foot per plot ratio, said Jones Lang LaSalle.
Jones Lang LaSelle's head of investments Stella Hoh said: "The subject site offers the potential developer an opportunity to acquire a prime piece of land in the CBD fringe area.
"Rejuvenation of Tanjong Pagar such as the relocation of the port and railway station and plans for Tanjong Pagar to be the next 'waterfront city' will inevitably add value to the potential of the subject site".
-CNA/wk
- wong chee tat :)
S$247m top bid for Buangkok Drive/Sengkang East Drive site
S$247m top bid for Buangkok Drive/Sengkang East Drive site
By Ryan Huang | Posted: 02 June 2011 2136 hrs
SINGAPORE : A total of four bids, according to provisional results, were received by the Housing & Development Board (HDB) in the tender for a land parcel at the junction of Buangkok Drive and Sengkang East Drive.
The site, which has a gross floor area of over 58,000 square metres, is planned for condominium housing development.
The top bid came from Qingdao Construction at S$247 million, or S$391 per square feet per plot ratio (psf/plot ratio).
This was ahead of the next bid from Opal Star by about S$7 million.
The lowest bid was S$145 million from Best Desire.
The site can be developed into a condominium development of around 20 storeys with 550 units.
CB Richard Ellis executive director Li Hiaw Ho said: "The top bid of S$247 million or S$391 psf/plot ratio is within market expectations. A new project will breakeven at S$760 psf to S$780 psf."
He added that currently "units in H2O Residences at Sengkang West Avenue/ Fernvale Link are being marketed at the median price of S$940 psf and some 330 units of this 521-unit condominium have been sold to date."
- CNA /ls
- wong chee tat :)
By Ryan Huang | Posted: 02 June 2011 2136 hrs
SINGAPORE : A total of four bids, according to provisional results, were received by the Housing & Development Board (HDB) in the tender for a land parcel at the junction of Buangkok Drive and Sengkang East Drive.
The site, which has a gross floor area of over 58,000 square metres, is planned for condominium housing development.
The top bid came from Qingdao Construction at S$247 million, or S$391 per square feet per plot ratio (psf/plot ratio).
This was ahead of the next bid from Opal Star by about S$7 million.
The lowest bid was S$145 million from Best Desire.
The site can be developed into a condominium development of around 20 storeys with 550 units.
CB Richard Ellis executive director Li Hiaw Ho said: "The top bid of S$247 million or S$391 psf/plot ratio is within market expectations. A new project will breakeven at S$760 psf to S$780 psf."
He added that currently "units in H2O Residences at Sengkang West Avenue/ Fernvale Link are being marketed at the median price of S$940 psf and some 330 units of this 521-unit condominium have been sold to date."
- CNA /ls
- wong chee tat :)
New shopping mall to be built in Jurong East
New shopping mall to be built in Jurong East
By Jo-ann Huang | Posted: 01 June 2011 1034 hrs
SINGAPORE: Property group CapitaLand and two of its subsidiaries CapitaMalls Asia and CapitaMall Trust Management will build a S$1.5 billion retail and office property on their newly acquired land site in Jurong Gateway.
They said the 25-storey property will complement offerings from their nearby malls IMM and JCube.
The White site was acquired for S$969 million or S$1,012 per square foot per plot ratio, based on a plot ratio of 4.9.
The site is the second one to be released as part of the development of Jurong into a work-live-play hub in the West.
The first site was acquired by Australian developers Lend Lease for S$748.8 million in June last year.
Lend Lease is building a mixed-use development on the site.
The firms said the property's retail and office components will ride on retail rental growth, as well as the development of the surrounding Jurong Lake District.
The 957,780 square feet retail and office property would be built right beside Jurong MRT Station.
The shopping mall component of the property is five-storeys high and is expected to open by December 2013.
The mixed-use property lies between IMM Building and JCube - which are also developed by CapitaLand's retail and trust units.
It will have 575,000 square feet of retail space and 383,000 square feet of office space.
CapitaMall Trust Management chief executive officer Simon Ho said: "We think there is still room for retail in Jurong East.
"We already operate IMM and JCube in this area but we find that another mall will be useful to serve the one million population catchment in Jurong, Clementi, Bukit Batok and so on".
Together with IMM Building and the upcoming JCube, there will be a total of one million square feet of net lettable area in the Jurong Gateway area, offered by CapitaLand's retail and trust units.
The project is also in the heart of the Jurong Lake District, slated to be a new regional hub in the west of Singapore.
The Jurong Gateway area is also about 2.5 times larger than the Tampines Regional Centre.
Analysts said Jurong Gateway holds much potential for retail malls.
Chesterton Suntec International head of research and consultancy Colin Tan said: "Its main attraction is the interchange... at the crossroads of MRT lines.
"That alone should ensure there will be crowds there. It will have enough shopping and commercial space to be an attraction in itself".
CapitaMall Trust Management said its new development should ride on steady retail rental growth.
The project's retail rentals are expected at S$16 to S$18 per square foot.
It will target mini-anchor and specialty tenants, in order to complement Lend Lease and the upcoming JCube's anchor tenants.
"For the first quarter, CapitaMall Trust renewed about 145 leases and we got a 7.5 per cent increase over the previous rent. That's pretty decent and that's leases spread out through surbuban malls and city malls," Mr Ho said.
The project's 20 floors of office space should be fully operational by end-2014.
By then, its developers said its office rentals should reach S$8 per square foot.
CapitaLand's retail and trust units said the project's yields, which are based on both office and retail rentals, should come up to about six per cent annually once it is up and running.
-CNA/wk
- wong chee tat :)
By Jo-ann Huang | Posted: 01 June 2011 1034 hrs
SINGAPORE: Property group CapitaLand and two of its subsidiaries CapitaMalls Asia and CapitaMall Trust Management will build a S$1.5 billion retail and office property on their newly acquired land site in Jurong Gateway.
They said the 25-storey property will complement offerings from their nearby malls IMM and JCube.
The White site was acquired for S$969 million or S$1,012 per square foot per plot ratio, based on a plot ratio of 4.9.
The site is the second one to be released as part of the development of Jurong into a work-live-play hub in the West.
The first site was acquired by Australian developers Lend Lease for S$748.8 million in June last year.
Lend Lease is building a mixed-use development on the site.
The firms said the property's retail and office components will ride on retail rental growth, as well as the development of the surrounding Jurong Lake District.
The 957,780 square feet retail and office property would be built right beside Jurong MRT Station.
The shopping mall component of the property is five-storeys high and is expected to open by December 2013.
The mixed-use property lies between IMM Building and JCube - which are also developed by CapitaLand's retail and trust units.
It will have 575,000 square feet of retail space and 383,000 square feet of office space.
CapitaMall Trust Management chief executive officer Simon Ho said: "We think there is still room for retail in Jurong East.
"We already operate IMM and JCube in this area but we find that another mall will be useful to serve the one million population catchment in Jurong, Clementi, Bukit Batok and so on".
Together with IMM Building and the upcoming JCube, there will be a total of one million square feet of net lettable area in the Jurong Gateway area, offered by CapitaLand's retail and trust units.
The project is also in the heart of the Jurong Lake District, slated to be a new regional hub in the west of Singapore.
The Jurong Gateway area is also about 2.5 times larger than the Tampines Regional Centre.
Analysts said Jurong Gateway holds much potential for retail malls.
Chesterton Suntec International head of research and consultancy Colin Tan said: "Its main attraction is the interchange... at the crossroads of MRT lines.
"That alone should ensure there will be crowds there. It will have enough shopping and commercial space to be an attraction in itself".
CapitaMall Trust Management said its new development should ride on steady retail rental growth.
The project's retail rentals are expected at S$16 to S$18 per square foot.
It will target mini-anchor and specialty tenants, in order to complement Lend Lease and the upcoming JCube's anchor tenants.
"For the first quarter, CapitaMall Trust renewed about 145 leases and we got a 7.5 per cent increase over the previous rent. That's pretty decent and that's leases spread out through surbuban malls and city malls," Mr Ho said.
The project's 20 floors of office space should be fully operational by end-2014.
By then, its developers said its office rentals should reach S$8 per square foot.
CapitaLand's retail and trust units said the project's yields, which are based on both office and retail rentals, should come up to about six per cent annually once it is up and running.
-CNA/wk
- wong chee tat :)
Manulife Singapore to double headcount by 2014
Manulife Singapore to double headcount by 2014
By Linette Lim | Posted: 02 June 2011 2042 hrs
SINGAPORE: Insurer Manulife Singapore plans to double the headcount of its agents and financial advisers by 2014. The Canadian-based insurer said it is investing S$11 million over the next six years in Singapore. This is in line with its expansion plans in Asia.
Manulife Singapore posted an 8 per cent growth in total weighted premium for the first quarter ended March 31. This refers to total sales of new regular and single premium insurance policies.
Regular premium products require periodic premium payments, while single premium products require only a lump sum payment from the policyholder.
Total weighted premium sales for the quarter was S$20 million. Its sales were boosted by single premium investments and high-net-worth plans.
Last week, it moved into a new financial advice and customer service centre. The 29,000 square feet centre is located in Tampines.
Annette King, President and CEO of Manulife Singapore, said: "We have opened a new office in Tampines, and we will also be opening a new office in Bras Brasah later in the year. We have about 900 agents already, we're planning to double that number."
-CNA/ac
- wong chee tat :)
By Linette Lim | Posted: 02 June 2011 2042 hrs
SINGAPORE: Insurer Manulife Singapore plans to double the headcount of its agents and financial advisers by 2014. The Canadian-based insurer said it is investing S$11 million over the next six years in Singapore. This is in line with its expansion plans in Asia.
Manulife Singapore posted an 8 per cent growth in total weighted premium for the first quarter ended March 31. This refers to total sales of new regular and single premium insurance policies.
Regular premium products require periodic premium payments, while single premium products require only a lump sum payment from the policyholder.
Total weighted premium sales for the quarter was S$20 million. Its sales were boosted by single premium investments and high-net-worth plans.
Last week, it moved into a new financial advice and customer service centre. The 29,000 square feet centre is located in Tampines.
Annette King, President and CEO of Manulife Singapore, said: "We have opened a new office in Tampines, and we will also be opening a new office in Bras Brasah later in the year. We have about 900 agents already, we're planning to double that number."
-CNA/ac
- wong chee tat :)
Kellock Lodge at River Valley Road up for en bloc sale
Kellock Lodge at River Valley Road up for en bloc sale
By Jo-ann Huang | Posted: 02 June 2011 1826 hrs
SINGAPORE : Kellock Lodge on River Valley Road is up for a collective sale, with an asking price of more than S$84 million or S$1,383 per square foot per plot ratio, said its sole marketing agent CKS Property Consultants.
The redevelopment site has a land area of 21,784 square feet and it will yield a maximum gross floor area of 60,995 square feet.
This is based on a plot ratio of 2.8 for the redevelopment of the site, with a development charge of S$380,000.
Residents of the 48 units at Kellock Lodge will receive about S$1.5 million to S$2.76 million each.
This is the first time Kellock Lodge is going up for collective sale.
The 48 units have sizes ranging from 882 square feet to 1,786 square feet.
Based on the plot ratio of 2.8, the site can yield about 100 apartments at about 600 square feet each or 60 apartments at 1,000 square feet each.
It is within walking distance from Great World City, Zion Riverside Food Centre and other eateries and amenities, said CKS Property Consultants.
It is located in District 10, within minutes' drive from the Orchard Road shopping belt and the Central Business District.
Derrick Tan, head of investment sales at CKS Property Consultants, said Kellock Lodge's medium-sized freehold land plot is in demand, particularly since it's in a city fringe area like River Valley.
The tender will close on July 8 at 3pm.
- CNA /ls
- wong chee tat :)
By Jo-ann Huang | Posted: 02 June 2011 1826 hrs
SINGAPORE : Kellock Lodge on River Valley Road is up for a collective sale, with an asking price of more than S$84 million or S$1,383 per square foot per plot ratio, said its sole marketing agent CKS Property Consultants.
The redevelopment site has a land area of 21,784 square feet and it will yield a maximum gross floor area of 60,995 square feet.
This is based on a plot ratio of 2.8 for the redevelopment of the site, with a development charge of S$380,000.
Residents of the 48 units at Kellock Lodge will receive about S$1.5 million to S$2.76 million each.
This is the first time Kellock Lodge is going up for collective sale.
The 48 units have sizes ranging from 882 square feet to 1,786 square feet.
Based on the plot ratio of 2.8, the site can yield about 100 apartments at about 600 square feet each or 60 apartments at 1,000 square feet each.
It is within walking distance from Great World City, Zion Riverside Food Centre and other eateries and amenities, said CKS Property Consultants.
It is located in District 10, within minutes' drive from the Orchard Road shopping belt and the Central Business District.
Derrick Tan, head of investment sales at CKS Property Consultants, said Kellock Lodge's medium-sized freehold land plot is in demand, particularly since it's in a city fringe area like River Valley.
The tender will close on July 8 at 3pm.
- CNA /ls
- wong chee tat :)
ROM & ROMM to shift back to upgraded facility
ROM & ROMM to shift back to upgraded facility
By Mustafa Shafawi | Posted: 06 June 2011 1711 hrs
SINGAPORE: The Registry of Marriages (ROM) and Registry of Muslim Marriages (ROMM) will resume operations at their newly renovated building at Canning Rise from 14 June.
ROM and ROMM have been operating at a temporary office in the Ministry of National Development (MND) Building on Maxwell Road since 26 January last year while the building at Canning Rise underwent renovation to better serve the public.
The Community Development, Youth and Sports Ministry (MCYS) says that to facilitate the shift back to Canning Rise, ROM and ROMM will be closed from 11-13 June.
During this period, members of the public can continue to call the ROM and ROMM main lines for assistance and enquiries.
MCYS says all online services will continue to be available.
The renovated building at Canning Rise brings together the Registry of Civil Marriages and the Registry of Muslim Marriages with one common customer service front , presenting visitors with a warm and welcoming environment.
- CNA/ir
- wong chee tat :)
By Mustafa Shafawi | Posted: 06 June 2011 1711 hrs
SINGAPORE: The Registry of Marriages (ROM) and Registry of Muslim Marriages (ROMM) will resume operations at their newly renovated building at Canning Rise from 14 June.
ROM and ROMM have been operating at a temporary office in the Ministry of National Development (MND) Building on Maxwell Road since 26 January last year while the building at Canning Rise underwent renovation to better serve the public.
The Community Development, Youth and Sports Ministry (MCYS) says that to facilitate the shift back to Canning Rise, ROM and ROMM will be closed from 11-13 June.
During this period, members of the public can continue to call the ROM and ROMM main lines for assistance and enquiries.
MCYS says all online services will continue to be available.
The renovated building at Canning Rise brings together the Registry of Civil Marriages and the Registry of Muslim Marriages with one common customer service front , presenting visitors with a warm and welcoming environment.
- CNA/ir
- wong chee tat :)
CommunicAsia set to be bigger
CommunicAsia set to be bigger
By Dylan Loh | Posted: 06 June 2011 1152 hrs
SINGAPORE: The CommunicAsia 2011 event -- Asia's largest knowledge-based information and communications technology platform -- will see a seven per cent increase in the number of exhibitors this year.
The exhibition and conference, which is into its 22nd year, will feature more than 1,400 exhibitors this June as compared to 1,300 last year.
About 80 per cent of them at the conference for industry players are from outside of Singapore.
More than 20 countries will be taking part in the conference which will be held at the Marina Bay Sands from June 21 to 24.
Singapore Exhibition Services communications events project director Victor Wong said: "This year, we added more relevance in terms of creating more tech zones and hospitality suites.
"I think we have grown to even more important than before, and many of the industry attendees have made it a point to attend".
The event is also seen as a chance for firms to boost their profiles.
Nokia Siemens Networks marketing & corporate affairs head Harith Menon said: "We see that if we are present in CommunicAsia, it gives us an opportunity to address all of the customers in one place".
A variety of ICT will feature in the event, including demonstrations of cloud computing services, mobile applications, wireless systems and the next generation 4G network.
The event last year drew more than 55,000 participants.
-CNA/wk
- wong chee tat :)
By Dylan Loh | Posted: 06 June 2011 1152 hrs
SINGAPORE: The CommunicAsia 2011 event -- Asia's largest knowledge-based information and communications technology platform -- will see a seven per cent increase in the number of exhibitors this year.
The exhibition and conference, which is into its 22nd year, will feature more than 1,400 exhibitors this June as compared to 1,300 last year.
About 80 per cent of them at the conference for industry players are from outside of Singapore.
More than 20 countries will be taking part in the conference which will be held at the Marina Bay Sands from June 21 to 24.
Singapore Exhibition Services communications events project director Victor Wong said: "This year, we added more relevance in terms of creating more tech zones and hospitality suites.
"I think we have grown to even more important than before, and many of the industry attendees have made it a point to attend".
The event is also seen as a chance for firms to boost their profiles.
Nokia Siemens Networks marketing & corporate affairs head Harith Menon said: "We see that if we are present in CommunicAsia, it gives us an opportunity to address all of the customers in one place".
A variety of ICT will feature in the event, including demonstrations of cloud computing services, mobile applications, wireless systems and the next generation 4G network.
The event last year drew more than 55,000 participants.
-CNA/wk
- wong chee tat :)
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