EC sales on the rise after Khaw hints at changes in scheme
By Lip Kwok Wai and Olivia Siong
POSTED: 19 May 2013 8:53 PM
Executive condominium developers said they have seen an increase in sales since National Development Minister Khaw Boon Wan hinted at changes to the scheme in April.
SINGAPORE: Some executive condominium developers said they have seen an increase in sales since National Development Minister Khaw Boon Wan hinted at changes to the scheme in April.
Developers of the Watercolours EC project in Pasir Ris have sold 21 units in the last two weeks alone -- it sold only 29 units in the whole of April. The project was launched in June 2012.
As for One Canberra in Yishun, its sales for the last fortnight has already exceeded what was sold in April. It sold 47 units in the last two weeks, compared to 44 units for the whole of April.
Mr Khaw had said at a housing dialogue in April that the EC scheme could not carry on in its current form. In particular, he said there was a sense of inequity that EC owners receive government subsidies, even though they make large profits from selling their unit.
One developer Channel NewsAsia spoke to said possible tweaks could be one reason why sales have gone up. However, there are other reasons as well.
Jeffrey Hong, CEO of GPS Alliance Holdings, said: "We see more first timers. That's the reason why I feel there's panic buying, fearing that the subsidies might be removed, so they better buy now. But of course that's not the main reason also. The reason is also because there are not many launches over this year, compared to last year."
There are six executive condominium launches expected this year. The first was launched in Woodlands earlier in April.
Mr Hong added that for next year, there will not be any launches expected till the last quarter of 2014. This is due to the new restrictions imposed on developers as part of the January property cooling measures. Developers have to wait a 15-month period after winning the bid before putting their project up for sale.
- CNA/ac
- wong chee tat :)
Monday, May 20, 2013
3 new primary schools to open for P1 registration this year
3 new primary schools to open for P1 registration this year
POSTED: 20 May 2013 5:17 PM
Three new primary schools will open for Primary One registration this year and take in students from 2014.
SINGAPORE: Three new primary schools will open for Primary One registration this year and take in students from 2014.
The schools are Northoaks Primary in Sembawang, Alexandra Primary in Bukit Merah, and West Spring Primary in Bukit Panjang.
The Education Ministry said the new primary schools will have facilities, including redesigned classrooms, dance and performing arts studios and an outdoor jogging path to support the delivery of holistic education.
These will facilitate engaged learning in both academic and non-academic areas.
Northoaks Primary School will be located at Sembawang Drive. Its current site is the holding site for Sembawang Primary School which will be moving back to their original site in June this year.
Northoaks Primary's Principal will be Mdm Ng Yin Lieng Theresa, currently Principal of Peiying Primary School.
Alexandra Primary will be located at Prince Charles Crescent.
Its Principal will be Mrs Lim Bee Lay who is currently the Principal of Maha Bodhi School.
West Spring Primary will be located at Bukit Panjang Ring Road.
Mdm Phan Swee Lin Sherin Jacintha will be its Principal. She is currently the Principal of Yangzheng Primary.
- CNA/fa
- wong chee tat :)
POSTED: 20 May 2013 5:17 PM
Three new primary schools will open for Primary One registration this year and take in students from 2014.
SINGAPORE: Three new primary schools will open for Primary One registration this year and take in students from 2014.
The schools are Northoaks Primary in Sembawang, Alexandra Primary in Bukit Merah, and West Spring Primary in Bukit Panjang.
The Education Ministry said the new primary schools will have facilities, including redesigned classrooms, dance and performing arts studios and an outdoor jogging path to support the delivery of holistic education.
These will facilitate engaged learning in both academic and non-academic areas.
Northoaks Primary School will be located at Sembawang Drive. Its current site is the holding site for Sembawang Primary School which will be moving back to their original site in June this year.
Northoaks Primary's Principal will be Mdm Ng Yin Lieng Theresa, currently Principal of Peiying Primary School.
Alexandra Primary will be located at Prince Charles Crescent.
Its Principal will be Mrs Lim Bee Lay who is currently the Principal of Maha Bodhi School.
West Spring Primary will be located at Bukit Panjang Ring Road.
Mdm Phan Swee Lin Sherin Jacintha will be its Principal. She is currently the Principal of Yangzheng Primary.
- CNA/fa
- wong chee tat :)
SMRT investigating root cause of recent rail crack incidents
SMRT investigating root cause of recent rail crack incidents
POSTED: 20 May 2013 5:44 PM
SMRT will carry out a full investigation to determine the root cause of the two rail crack incidents that occurred on the North-South Line on April 29 and May 18 this year.
SINGAPORE: SMRT will carry out a full investigation to determine the root cause of the two rail crack incidents that occurred on the North-South Line on April 29 and May 18 this year.
The incidents caused delays for commuters.
SMRT said its preliminary findings revealed that both incidents bore several similarities.
Both rail cracks occurred at rail joints that were welded between old and new rails located on high rails of a curve track.
Both incidents happened on concrete tracks, at locations that were close to the tail wall of the underground stations.
The tail wall refers to the end of the station where the train pulls in.
Both affected rail joints had been welded by the same contractor in June last year and February this year.
SMRT said it will focus on the material, workmanship, stress factors, and welding process in its investigation.
It will send materials used for welding of the two cracked rails for full laboratory tests to determine their content, quality, and condition.
As for workmanship, SMRT will identify, inspect and conduct tests on all rail joints in the system that were welded by the same contractor. This is to determine the integrity of the rail joints.
SMRT will also study the possible stress factors that may have contributed to the rail cracks.
One possible stress could have resulted from a height difference formed between the welded rails.
Additional stress to the rail joints may have been caused by braking forces of passing trains at the tail wall tracks of underground stations.
To ensure that similar incidents do not occur again, SMRT said it will conduct a thorough inspection of all suspected rail joints on the entire network (North-South Line and East-West Line) and will take appropriate remedial actions.
It said this is in addition to its regular patrols and tests carried out on all its tracks to detect rail flaws in order to ensure rail integrity.
SMRT added that train services would not have been allowed to continue if it was assessed that passenger safety may be compromised in any way.
- CNA/fa
- wong chee tat :)
POSTED: 20 May 2013 5:44 PM
SMRT will carry out a full investigation to determine the root cause of the two rail crack incidents that occurred on the North-South Line on April 29 and May 18 this year.
SINGAPORE: SMRT will carry out a full investigation to determine the root cause of the two rail crack incidents that occurred on the North-South Line on April 29 and May 18 this year.
The incidents caused delays for commuters.
SMRT said its preliminary findings revealed that both incidents bore several similarities.
Both rail cracks occurred at rail joints that were welded between old and new rails located on high rails of a curve track.
Both incidents happened on concrete tracks, at locations that were close to the tail wall of the underground stations.
The tail wall refers to the end of the station where the train pulls in.
Both affected rail joints had been welded by the same contractor in June last year and February this year.
SMRT said it will focus on the material, workmanship, stress factors, and welding process in its investigation.
It will send materials used for welding of the two cracked rails for full laboratory tests to determine their content, quality, and condition.
As for workmanship, SMRT will identify, inspect and conduct tests on all rail joints in the system that were welded by the same contractor. This is to determine the integrity of the rail joints.
SMRT will also study the possible stress factors that may have contributed to the rail cracks.
One possible stress could have resulted from a height difference formed between the welded rails.
Additional stress to the rail joints may have been caused by braking forces of passing trains at the tail wall tracks of underground stations.
To ensure that similar incidents do not occur again, SMRT said it will conduct a thorough inspection of all suspected rail joints on the entire network (North-South Line and East-West Line) and will take appropriate remedial actions.
It said this is in addition to its regular patrols and tests carried out on all its tracks to detect rail flaws in order to ensure rail integrity.
SMRT added that train services would not have been allowed to continue if it was assessed that passenger safety may be compromised in any way.
- CNA/fa
- wong chee tat :)
Tharman re-appointed as MAS chairman
Tharman re-appointed as MAS chairman
POSTED: 20 May 2013 6:09 PM
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam has been re-appointed as chairman of the MAS Board of Directors from 21 May 2013 to 31 May 2015.
SINGAPORE: Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam has been re-appointed as chairman of the MAS Board of Directors from 21 May 2013 to 31 May 2015.
This was announced by the Monetary Authority of Singapore (MAS) on Monday.
Mr Ravi Menon, managing director of MAS, will be re-appointed both as managing director of MAS and a member of the MAS Board of Directors for a further term of two years, with effect from 1 June 2013.
Minister for Education, Mr Heng Swee Keat, and Acting Minister for Culture, Community and Youth and Senior Minister of State (Communications and Information), Mr Lawrence Wong Shyun Tsai, will also be re-appointed as members of the MAS Board of Directors for a further term of two years, with effect from 1 June 2013.
- CNA/ir
- wong chee tat :)
POSTED: 20 May 2013 6:09 PM
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam has been re-appointed as chairman of the MAS Board of Directors from 21 May 2013 to 31 May 2015.
SINGAPORE: Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam has been re-appointed as chairman of the MAS Board of Directors from 21 May 2013 to 31 May 2015.
This was announced by the Monetary Authority of Singapore (MAS) on Monday.
Mr Ravi Menon, managing director of MAS, will be re-appointed both as managing director of MAS and a member of the MAS Board of Directors for a further term of two years, with effect from 1 June 2013.
Minister for Education, Mr Heng Swee Keat, and Acting Minister for Culture, Community and Youth and Senior Minister of State (Communications and Information), Mr Lawrence Wong Shyun Tsai, will also be re-appointed as members of the MAS Board of Directors for a further term of two years, with effect from 1 June 2013.
- CNA/ir
- wong chee tat :)
Soilbuild Construction Group launches IPO
Soilbuild Construction Group launches IPO
POSTED: 17 May 2013 11:21 PM
Soilbuild Construction Group launches initial public offering (IPO), comprising 168 million new shares priced at S$0.25 per share.
SINGAPORE: Soilbuild Construction Group has launched an initial public offering (IPO) for a mainboard listing on the Singapore Exchange.
The IPO, comprising 168 million new shares priced at S$0.25 per share, is expected to raise gross proceeds of S$42 million for the general construction company.
Soilbuild Construction Group is the construction arm of property developer Soilbuild Group Holdings which was delisted from the Singapore Exchange in 2010.
According to its prospectus, construction projects awarded by its controlling shareholder group accounted for 58.4% of its revenue in its 2012 fiscal year.
It reported revenue of S$213.5 million and net profit of S$22.0 million in FY2012.
As at 30 April 2013, the firm's order books amounted to S$511.2 million.
The company is the main contractor in projects such as the Solaris, Montebleu and West Park BizCentral.
It intends to continue to compete in future tenders from the Housing and Development Board for public housing construction projects as well as seek opportunities in the business space sector.
Also in the pipeline are plans to grow its overseas business, including new markets like Myanmar.
The firm's shares are expected to start trading on 27 May.
- CNA/al
- wong chee tat :)
POSTED: 17 May 2013 11:21 PM
Soilbuild Construction Group launches initial public offering (IPO), comprising 168 million new shares priced at S$0.25 per share.
SINGAPORE: Soilbuild Construction Group has launched an initial public offering (IPO) for a mainboard listing on the Singapore Exchange.
The IPO, comprising 168 million new shares priced at S$0.25 per share, is expected to raise gross proceeds of S$42 million for the general construction company.
Soilbuild Construction Group is the construction arm of property developer Soilbuild Group Holdings which was delisted from the Singapore Exchange in 2010.
According to its prospectus, construction projects awarded by its controlling shareholder group accounted for 58.4% of its revenue in its 2012 fiscal year.
It reported revenue of S$213.5 million and net profit of S$22.0 million in FY2012.
As at 30 April 2013, the firm's order books amounted to S$511.2 million.
The company is the main contractor in projects such as the Solaris, Montebleu and West Park BizCentral.
It intends to continue to compete in future tenders from the Housing and Development Board for public housing construction projects as well as seek opportunities in the business space sector.
Also in the pipeline are plans to grow its overseas business, including new markets like Myanmar.
The firm's shares are expected to start trading on 27 May.
- CNA/al
- wong chee tat :)
Convertible Bonds
Convertible Bonds
Issuing convertible bonds is one way for a company to minimize negative investor interpretation of its corporate actions. For example, if an already public company chooses to issue stock, the market usually interprets this as a sign that the company's share price is somewhat overvalued. To avoid this negative impression, the company may choose to issue convertible bonds, which bondholders will likely convert to equity anyway should the company continue to do well.
From the investor's perspective, a convertible bond has a value-added component built into it; it is essentially a bond with a stock option hidden inside. Thus, it tends to offer a lower rate of return in exchange for the value of the option to trade the bond into stock.
- wong chee tat :)
Issuing convertible bonds is one way for a company to minimize negative investor interpretation of its corporate actions. For example, if an already public company chooses to issue stock, the market usually interprets this as a sign that the company's share price is somewhat overvalued. To avoid this negative impression, the company may choose to issue convertible bonds, which bondholders will likely convert to equity anyway should the company continue to do well.
From the investor's perspective, a convertible bond has a value-added component built into it; it is essentially a bond with a stock option hidden inside. Thus, it tends to offer a lower rate of return in exchange for the value of the option to trade the bond into stock.
- wong chee tat :)
Subscribe to:
Posts (Atom)