Khaw hints at changes in EC scheme
By Imelda Saad
POSTED: 26 Apr 2013 5:42 PM
UPDATED: 26 Apr 2013 10:35 PM
National Development Minister Khaw Boon Wan says there is "something wrong somewhere" with the Executive Condominium (EC) scheme and that it cannot carry on in its current form.
SINGAPORE: National Development Minister Khaw Boon Wan has said the government loses "hundreds of millions" of dollars when constructing public flats.
He made the point on Thursday night at a dialogue session on housing issues.
This comes amid calls from some quarters for land costs to be taken out from the pricing of public flats to make them more affordable.
Mr Khaw also hinted at several other changes to come, such as subsidies for executive condominiums.
During the national conversation session on housing issues, many were concerned about the affordability of home prices.
Evalyn Khoo, a mother of two, said: “I'm concerned about the home asset value. I'm also concerned about how the younger generation can actually afford a house for themselves in the future."
Participant Philip Lee said: “I think in the past three years or so, there has been more anxiety in the market because even Singaporeans couldn't get properties through the Build-To-Order (scheme) and they have to resort to the resale market and I think if there is sufficient supply channelled to BTO, we may see more happy Singaporeans and possibly less demand in the resale market and hopefully the prices will be within range."
With regard to calls for price of new Build-To-Order (BTO) flats to be de-linked from land costs, Mr Khaw said it may be politically easy to say land is free because it belongs to everybody, but that is not the case.
He said the price of land is tied to acquisition costs, reclamation and the building of infrastructure around it.
Mr Khaw said: "You need to acquire a piece of land; you need to reclaim a piece of land. All those costs money to taxpayers and we are just trustees of taxpayers and those costs are to be accounted for. And even when you have got that land prepared, land is only valuable when we invest in infrastructure, roads, MRT... And all those costs billions of dollars. So to say that land cost is a pittance and therefore should be excluded from total construction costs… I myself think it is not quite an appropriate argument.”
He also revealed that the Housing and Development Board, which is the developer for public housing, is losing money for every flat it sells.
He said: “Every year, hundreds of millions of dollars of losses were incurred by the HDB and that's why MOF (Ministry of Finance) has to give the HDB an annual grant, otherwise the HDB will be in the red. It cannot be forever in the red, because there's no way it can make money. Because every unit that we sell, we lose money, HDB loses money. The accounting for the HDB is deficit accounting. So if you incur a S$300-million loss, there is a grant of S$300 million that covers it. That is how we operate the HDB.
“Let us not perpetuate this talk about HDB is making money out of building houses because if it was so simple, life would be straightforward, but that's not the case.”
The HDB pays market rate for its land and construction costs. When it prices flats below market rate, it incurs a housing deficit.
A recent report said the deficit is now in the region of about S$1 billion a year, including other costs such as upgrading.
The National Development Ministry told Channel NewsAsia: "The cost of building HDB flats includes the cost of land, design, construction, financing and other project-related costs. It varies from project to project and year to year. Averaging over the past three years, the Home Ownership Programme costs HDB S$874 million per year."
Mr Khaw added that the government has to offer more subsidies with its ramped-up flat supply.
One area where subsidies are being reviewed is that for executive condominiums (ECs), which cater to Singaporeans who can afford more than an HDB flat, but find private property out of their reach.
The current household income ceiling for executive condominiums is S$12,000.
Mr Khaw said: “There is this sense of inequity here that the lower-income group is getting lower subsidies than somebody who is earning S$12,000, so something is wrong somewhere and therefore I think we cannot carry on the EC in this current mode."
Mr Khaw also said he is confident that he can bring down the price of new flats in non-mature estates to four times the annual median salary of a buyer - down 30 per cent from the current 5.5 times. He is wary of some "transitional problems".
He said there needs to be "distinct differentiation" between the cheaper new flats and those built earlier.
Mr Khaw said both the MND and HDB will need to sort out this issue over the next few months.
He said: "I am fairly confident of being able to do it but some groups already anticipate transitional problems, which is what I got to sort out. If yesterday you bought (a flat) at five and half years' salary and tomorrow HDB announces a new pricing package, which is only (priced at) four years’ salary, you are going to cry 'blue murder' right?
“Therefore, I think we should not be prevented from offering a new pricing model but obviously there must be a distinct differentiation between the two products to explain why one is five and a half years and the one is four years."
The national conversation session is the second in a series of about 10 dialogue sessions on housing issues. Participants were first broken up in small groups of six and then came together in a larger group where the conversation continued. The aim is to gather feedback from Singaporeans to shape future housing policies.
The topic of affordability will be further discussed at a future Our Singapore Conversation discussion.
Details can be found on www.mnd.gov.sg/HomeSweetHome
- CNA/xq
- wong chee tat :)
Friday, April 26, 2013
Ascott REIT DPU rises 5% in Q1 2013
Ascott REIT DPU rises 5% in Q1 2013
By Brandon Tanoto
POSTED: 26 Apr 2013 9:34 PM
Ascott Residence Trust's (Ascott REIT) distribution per unit rose 5 percent to 2.25 cents in Q1 2013 from a year earlier. Its unitholder's distribution grew 14 percent to S$27.6 million in the same period.
SINGAPORE: Ascott Residence Trust's (Ascott REIT) distribution per unit rose 5 percent to 2.25 cents in Q1 2013 from a year earlier.
Its unitholder's distribution grew 14 percent to S$27.6 million in the same period.
However, the trust's revenue fell 3 percent to S$69.2 million while its gross profit dropped 9 percent to S$33.8 million.
In a media statement, Ascott REIT said its revenue was lower due mainly to the divestment of Somerset Grand Cairnhill Singapore and Somerset Gordon Heights Melbourne in 2012.
It added that contribution from its existing properties in Singapore and Japan was lower too.
Meanwhile, revenue and gross profit for China, Japan and Germany were higher in Q1 2013 compared to a year ago.
This was largely due to contributions from its newly-acquired properties.
Revenue in China jumped 36 percent from the newly-acquired Ascott Guangzhou, while revenue in Japan increased 28 percent due to contribution from serviced apartments Citadines Karasuma-Gojo Kyoto and improved market sentiments.
In Germany, revenue rose 140 percent mainly due to the contribution from the newly-acquired hotel Madison Hamburg.
Ascott Residence Trust Management's Chief Executive Officer, Ronald Tay, said: "In Q1 2013, we opened Citadines Suites Louvre Paris after the property was transformed into a boutique-style luxury serviced residence. We also completed the renovation of Citadines Croisette Cannes and Citadines City Centre Lille and started to refurbish Citadines Toison d'Or Brussels and Somerset Xu Hui Shanghai this quarter. The ongoing renovation of Ascott Jakarta and Citadines Ramblas Barcelona is slated for completion in Q4 2013. We will continue to progressively execute our asset enhancement programmes in order to grow our revenue per available unit."
- CNA/xq
- wong chee tat :)
By Brandon Tanoto
POSTED: 26 Apr 2013 9:34 PM
Ascott Residence Trust's (Ascott REIT) distribution per unit rose 5 percent to 2.25 cents in Q1 2013 from a year earlier. Its unitholder's distribution grew 14 percent to S$27.6 million in the same period.
SINGAPORE: Ascott Residence Trust's (Ascott REIT) distribution per unit rose 5 percent to 2.25 cents in Q1 2013 from a year earlier.
Its unitholder's distribution grew 14 percent to S$27.6 million in the same period.
However, the trust's revenue fell 3 percent to S$69.2 million while its gross profit dropped 9 percent to S$33.8 million.
In a media statement, Ascott REIT said its revenue was lower due mainly to the divestment of Somerset Grand Cairnhill Singapore and Somerset Gordon Heights Melbourne in 2012.
It added that contribution from its existing properties in Singapore and Japan was lower too.
Meanwhile, revenue and gross profit for China, Japan and Germany were higher in Q1 2013 compared to a year ago.
This was largely due to contributions from its newly-acquired properties.
Revenue in China jumped 36 percent from the newly-acquired Ascott Guangzhou, while revenue in Japan increased 28 percent due to contribution from serviced apartments Citadines Karasuma-Gojo Kyoto and improved market sentiments.
In Germany, revenue rose 140 percent mainly due to the contribution from the newly-acquired hotel Madison Hamburg.
Ascott Residence Trust Management's Chief Executive Officer, Ronald Tay, said: "In Q1 2013, we opened Citadines Suites Louvre Paris after the property was transformed into a boutique-style luxury serviced residence. We also completed the renovation of Citadines Croisette Cannes and Citadines City Centre Lille and started to refurbish Citadines Toison d'Or Brussels and Somerset Xu Hui Shanghai this quarter. The ongoing renovation of Ascott Jakarta and Citadines Ramblas Barcelona is slated for completion in Q4 2013. We will continue to progressively execute our asset enhancement programmes in order to grow our revenue per available unit."
- CNA/xq
- wong chee tat :)
Romeo Tan: From Popular Extra to Extra Popular
Romeo Tan: From Popular Extra to Extra Popular
By Han Wei Chou
POSTED: 26 Apr 2013 3:58 PM
Singapore actor Romeo Tan shares his thoughts on starting out as an extra, and reveals why beginning his career as a nobody suits him just fine.
SINGAPORE: He was a nobody.
Before he formally entered showbiz in Star Search 10, and shot to fame after starring in hit shows like “Don’t Stop Believin’” as well as “Joys of Life”, Romeo Tan was a nobody.
He was what industry people call a ‘calefare’, an extra.
But he was a very popular extra.
Tan was well-liked and was often picked when extras were required to play bit parts.
Still, he has had to pay his dues to get to where he is today.
Tan expressed that he had to learn numerous things on the job, and often from scratch - like how to die.
“I started off with no acting experience.
“One of my first roles was this gangster called Ryan in ‘Heartlanders’. In the end he died at the hands of Vincent Ng’s character. He shot me,” recounted Tan with a smile.
“It was a really challenging scene that night, because there was limited stunt ammunition. You can only fire the gun two times. And I had no idea how to die!”
“I was sweating bullets! I had a few NGs (No Good takes) without the gun. Luckily, on the second shot, it turned out to be okay,” said Tan, gently shaking his head.
After his stint on “Heartlanders”, he started to receive more roles, but each was smaller than the last.
“There was ‘Without Warning’ and ‘Incredible Tales’.
“Sometimes, my name wasn’t even featured in the credits. Because the role is so small, and you are only needed for those few scenes, there is no time for you to establish who you are,” said Tan.
“The script says you’re playing Leslie, this so and so’s husband, but in the whole scene, they never mention your name, so nobody even knew who I played.”
Extra Popular
However, things gradually improved after he appeared in his first Mandarin drama “Portrait of Home II”, and started getting bigger roles.
“I was very excited!
“More Chinese drama roles came in, and my roles started getting bigger and bigger … slightly bigger,” said Tan.
“But still you could see the improvement, from having no name to getting credited, from being credited to getting more dialogue.”
It was only when he worked on “The Best Things in Life” that he found out about Star Search from veteran actor Chen Hanwei, and joined the competition.
While he didn’t win, he caught the eye of MediaCorp and was signed as a full-time actor in 2010.
The change was massive for Tan.
In just a few short years, he has garnered legions of fans, and had managed to snag an endorsement deal.
He is also involved in a myriad of projects, from MediaCorp's first-ever cross-media drama “96C Café” which airs on April 29, to the upcoming drama “Sudden” alongside top actress Rui En.
In addition, Tan had snagged the Rocket Award, which honours the artiste who showed the greatest improvement, at the "Star Awards 2013 Show 1", and is in the running for a "Top 10 Most Popular Male Artiste" award on Sunday's "Star Awards 2013 Show 2".
But till this day, he still remembers how depressing it sometimes got, when he started out as an extra.
“Once, I turned up for work and the security guard at the gate said ‘Your name is not on the list.’ I tell him I am acting in this show, but they have no idea who I am at all.”
“You feel like such a nobody, waiting for them to clear you,” said Tan.
He experienced the same feeling at the Wardrobe department.
“When I report to Wardrobe, they ask me ‘What role are your playing?’ I tell them a lot about the role, but to them, it’s just ‘that passer-by’ or ‘that guy’s cousin’," said Tan.
Rules of The Game
Still, he wouldn’t have wanted it any other way.
“I am glad that I actually started out as an extra, a calefare, because I see that I managed to climb my way up from the bottom.
“I gained a lot of self-esteem and confidence from this,” said Tan.
“Although I’m not the best, I managed to prove to myself that I can act.”
Neither does he hold a grudge against those who have treated him shabbily in the past.
He understands the rules of the game.
“It does make a difference who you are in this line. You are judged by your status.
"This is a fact of the world we live in, whether you are in showbiz or not,” said Tan, with a knowing smile.
“That’s just how it is.”
“96C Café” airs every weeknight from April 29, 9pm on Channel 8. “Sudden” will air in September.
- CNA/ha
- wong chee tat :)
By Han Wei Chou
POSTED: 26 Apr 2013 3:58 PM
Singapore actor Romeo Tan shares his thoughts on starting out as an extra, and reveals why beginning his career as a nobody suits him just fine.
SINGAPORE: He was a nobody.
Before he formally entered showbiz in Star Search 10, and shot to fame after starring in hit shows like “Don’t Stop Believin’” as well as “Joys of Life”, Romeo Tan was a nobody.
He was what industry people call a ‘calefare’, an extra.
But he was a very popular extra.
Tan was well-liked and was often picked when extras were required to play bit parts.
Still, he has had to pay his dues to get to where he is today.
Tan expressed that he had to learn numerous things on the job, and often from scratch - like how to die.
“I started off with no acting experience.
“One of my first roles was this gangster called Ryan in ‘Heartlanders’. In the end he died at the hands of Vincent Ng’s character. He shot me,” recounted Tan with a smile.
“It was a really challenging scene that night, because there was limited stunt ammunition. You can only fire the gun two times. And I had no idea how to die!”
“I was sweating bullets! I had a few NGs (No Good takes) without the gun. Luckily, on the second shot, it turned out to be okay,” said Tan, gently shaking his head.
After his stint on “Heartlanders”, he started to receive more roles, but each was smaller than the last.
“There was ‘Without Warning’ and ‘Incredible Tales’.
“Sometimes, my name wasn’t even featured in the credits. Because the role is so small, and you are only needed for those few scenes, there is no time for you to establish who you are,” said Tan.
“The script says you’re playing Leslie, this so and so’s husband, but in the whole scene, they never mention your name, so nobody even knew who I played.”
Extra Popular
However, things gradually improved after he appeared in his first Mandarin drama “Portrait of Home II”, and started getting bigger roles.
“I was very excited!
“More Chinese drama roles came in, and my roles started getting bigger and bigger … slightly bigger,” said Tan.
“But still you could see the improvement, from having no name to getting credited, from being credited to getting more dialogue.”
It was only when he worked on “The Best Things in Life” that he found out about Star Search from veteran actor Chen Hanwei, and joined the competition.
While he didn’t win, he caught the eye of MediaCorp and was signed as a full-time actor in 2010.
The change was massive for Tan.
In just a few short years, he has garnered legions of fans, and had managed to snag an endorsement deal.
He is also involved in a myriad of projects, from MediaCorp's first-ever cross-media drama “96C Café” which airs on April 29, to the upcoming drama “Sudden” alongside top actress Rui En.
In addition, Tan had snagged the Rocket Award, which honours the artiste who showed the greatest improvement, at the "Star Awards 2013 Show 1", and is in the running for a "Top 10 Most Popular Male Artiste" award on Sunday's "Star Awards 2013 Show 2".
But till this day, he still remembers how depressing it sometimes got, when he started out as an extra.
“Once, I turned up for work and the security guard at the gate said ‘Your name is not on the list.’ I tell him I am acting in this show, but they have no idea who I am at all.”
“You feel like such a nobody, waiting for them to clear you,” said Tan.
He experienced the same feeling at the Wardrobe department.
“When I report to Wardrobe, they ask me ‘What role are your playing?’ I tell them a lot about the role, but to them, it’s just ‘that passer-by’ or ‘that guy’s cousin’," said Tan.
Rules of The Game
Still, he wouldn’t have wanted it any other way.
“I am glad that I actually started out as an extra, a calefare, because I see that I managed to climb my way up from the bottom.
“I gained a lot of self-esteem and confidence from this,” said Tan.
“Although I’m not the best, I managed to prove to myself that I can act.”
Neither does he hold a grudge against those who have treated him shabbily in the past.
He understands the rules of the game.
“It does make a difference who you are in this line. You are judged by your status.
"This is a fact of the world we live in, whether you are in showbiz or not,” said Tan, with a knowing smile.
“That’s just how it is.”
“96C Café” airs every weeknight from April 29, 9pm on Channel 8. “Sudden” will air in September.
- CNA/ha
- wong chee tat :)
PUB to conduct study on the potential of tapping into underground water
PUB to conduct study on the potential of tapping into underground water
By Zhao Quan Yin
POSTED: 26 Apr 2013 10:11 PM
The three-year study will explore the rock layer in the western and southern part of the island known as the Jurong Formation.
SINGAPORE: The PUB is to study the potential of tapping into underground sources for water.
It called for a tender on Friday for consultancy services to be awarded in July.
PUB said Singapore currently has no known underground water sources or aquifers.
The three-year study will explore the rock layer in the western and southern part of the island known as the Jurong Formation.
Areas in the study include rural areas like Lim Chu Kang, and more urban areas such as Jurong, Bukit Merah and Choa Chu Kang.
Experts said if found, these water sources in the Jurong Formation will contain few impurities as it is deep in the ground.
This means less work is needed to process and clean the water, and minimal disruptions on ground level.
This is compared to shallower aquifers, which is easier to reach and requires less energy to draw water, but tends to contain more impurities and the ground level will be more affected by water pumping activities.
National University of Singapore’s assistant professor at the Department of Civil & Environmental Engineering, Dr Chew Soon Hoe said: "But if this well is going to be very deep, for it to be economical and quantity-wise to be viable, then one has to start considering the cost of drilling this deep well as well as maintaining this constant pumping.
“Of course, one cannot forget that by designating certain area for deep well pumping for water extraction, the vicinity will probably not be suitable for high class shopping and residential functions."
Dr Chew added that for water extraction, it is important to study the hydrological balance and how to recharge the groundwater in the rock layer for a continuous water supply.
- CNA/ck
- wong chee tat :)
By Zhao Quan Yin
POSTED: 26 Apr 2013 10:11 PM
The three-year study will explore the rock layer in the western and southern part of the island known as the Jurong Formation.
SINGAPORE: The PUB is to study the potential of tapping into underground sources for water.
It called for a tender on Friday for consultancy services to be awarded in July.
PUB said Singapore currently has no known underground water sources or aquifers.
The three-year study will explore the rock layer in the western and southern part of the island known as the Jurong Formation.
Areas in the study include rural areas like Lim Chu Kang, and more urban areas such as Jurong, Bukit Merah and Choa Chu Kang.
Experts said if found, these water sources in the Jurong Formation will contain few impurities as it is deep in the ground.
This means less work is needed to process and clean the water, and minimal disruptions on ground level.
This is compared to shallower aquifers, which is easier to reach and requires less energy to draw water, but tends to contain more impurities and the ground level will be more affected by water pumping activities.
National University of Singapore’s assistant professor at the Department of Civil & Environmental Engineering, Dr Chew Soon Hoe said: "But if this well is going to be very deep, for it to be economical and quantity-wise to be viable, then one has to start considering the cost of drilling this deep well as well as maintaining this constant pumping.
“Of course, one cannot forget that by designating certain area for deep well pumping for water extraction, the vicinity will probably not be suitable for high class shopping and residential functions."
Dr Chew added that for water extraction, it is important to study the hydrological balance and how to recharge the groundwater in the rock layer for a continuous water supply.
- CNA/ck
- wong chee tat :)
How to create a email archive for MS Outlook 2010?
How to create a email archive for MS Outlook 2010?
Actually, it is very simple:
1) From MS Outlook 2010, go to File --> Info --> Account Settings --> Account Settings
2) Under Account Settings, look for the 2nd tab and select Data Files.
3) To create a new email archive, select Add and enter the new name for the email archive (.pst)
4) Once created, you will see the archive created in MS Outlook 2010.
- wong chee tat :)
Subscribe to:
Posts (Atom)