Rained the whole afternoon. Tonight, the air is cool. Good time to sleep!
- wong chee tat :)
Wednesday, November 5, 2014
Chip Eng Seng wins S$232.8m HDB contract to build residences in Woodlands
Chip Eng Seng wins S$232.8m HDB contract to build residences in Woodlands
The contract will see a unit of the Singapore Exchange-listed organisation, Chip Eng Seng Contractors, undertake the construction of nine residential blocks at Woodlands.
SINGAPORE: A unit of mainboard-listed Chip Eng Seng Corporation won a S$232.8 million contract from the Housing and Development Board (HDB).
This agreement would see Chip Eng Seng Contractors construct nine residential blocks at Woodlands Neighbourhood 1, according to the press release on Monday (Nov 3). Works for this contract are expected to be completed in mid-2018.
In a filing to the Singapore Exchange (SGX), Chip Eng Seng said the group's order book stood at S$548 million as at Jun 30, 2014.
The company also stated that it is involved in other HDB projects, including those at Jurong West Neighbourhood 6, Bukit Panjang Neighbourhood 4 and Bukit Batok Neighbourhood 1.
- CNA/kk
- wong chee tat :)
The contract will see a unit of the Singapore Exchange-listed organisation, Chip Eng Seng Contractors, undertake the construction of nine residential blocks at Woodlands.
SINGAPORE: A unit of mainboard-listed Chip Eng Seng Corporation won a S$232.8 million contract from the Housing and Development Board (HDB).
This agreement would see Chip Eng Seng Contractors construct nine residential blocks at Woodlands Neighbourhood 1, according to the press release on Monday (Nov 3). Works for this contract are expected to be completed in mid-2018.
In a filing to the Singapore Exchange (SGX), Chip Eng Seng said the group's order book stood at S$548 million as at Jun 30, 2014.
The company also stated that it is involved in other HDB projects, including those at Jurong West Neighbourhood 6, Bukit Panjang Neighbourhood 4 and Bukit Batok Neighbourhood 1.
- CNA/kk
- wong chee tat :)
Lake Life EC priced below indication despite strong interest
Lake Life EC priced below indication despite strong interest
TODAY reports: The executive condominium has been priced at an average of S$857 per square foot (psf), below the indicative pricing of S$880psf to S$890psf.
SINGAPORE: Lake Life, the first executive condominium (EC) offering in Jurong in 17 years, has been priced at an average of S$857 per square foot (psf) for the 546-unit project, well below the indicative pricing as its developers seek to secure demand amid stricter financing rules.
The consortium of developers led by Evia Real Estate had earlier said units at Lake Life EC could be priced at S$880psf to S$890psf amid strong interest in the project. However, after analysing the profiles of its 1,853 e-applicants – a record high for an EC development – it found that the purchasing ability of the potential buyers was lower than expected.
“Most developers would target at least a 10 per cent margin, but then today we have the MSR (Mortgage Servicing Ratio), and looking at the buyers’ income levels and ability to borrow, I’m very reluctant to cross S$1.1 million for most units,” Evia’s managing partner Vincent Ong said on Thursday (Oct 30).
“There’s also the risk that there’s still a lot of stock in the market – for private units, BTO (Build-to-Order) flats and ECs. I could have taken the position to price higher after receiving a record number of applications, but after our calculations, we have to price with buyers’ affordability in mind,” he added.
Mr Ong said the price level translates to a margin of about 6 per cent. The consortium paid S$272.84 million in July last year for the 217,298sqft site at Yuan Ching Road/Tao Ching Road that Lake Life sits on. At about S$418 psf per plot ratio, it is the most expensive EC land to date.
Several months after the record bid, the government announced in December last year that EC purchases would be subject to the 30 per cent MSR cap, a rule that many property analysts said would hit demand for the hybrid public-private homes.
Lake Life’s show flats will open on Saturday and Mr Ong hopes to secure buyers for at least half of the units on offer this weekend.
“While Lake Life is on the higher end of the spectrum, its lower selling price as compared to that of a private condominium means buyers will stand to reap even more returns in the future when taking into account the anticipated appreciation in market value when the EC is fully privatised,” he said.
-TODAY/cy
- wong chee tat :)
TODAY reports: The executive condominium has been priced at an average of S$857 per square foot (psf), below the indicative pricing of S$880psf to S$890psf.
SINGAPORE: Lake Life, the first executive condominium (EC) offering in Jurong in 17 years, has been priced at an average of S$857 per square foot (psf) for the 546-unit project, well below the indicative pricing as its developers seek to secure demand amid stricter financing rules.
The consortium of developers led by Evia Real Estate had earlier said units at Lake Life EC could be priced at S$880psf to S$890psf amid strong interest in the project. However, after analysing the profiles of its 1,853 e-applicants – a record high for an EC development – it found that the purchasing ability of the potential buyers was lower than expected.
“Most developers would target at least a 10 per cent margin, but then today we have the MSR (Mortgage Servicing Ratio), and looking at the buyers’ income levels and ability to borrow, I’m very reluctant to cross S$1.1 million for most units,” Evia’s managing partner Vincent Ong said on Thursday (Oct 30).
“There’s also the risk that there’s still a lot of stock in the market – for private units, BTO (Build-to-Order) flats and ECs. I could have taken the position to price higher after receiving a record number of applications, but after our calculations, we have to price with buyers’ affordability in mind,” he added.
Mr Ong said the price level translates to a margin of about 6 per cent. The consortium paid S$272.84 million in July last year for the 217,298sqft site at Yuan Ching Road/Tao Ching Road that Lake Life sits on. At about S$418 psf per plot ratio, it is the most expensive EC land to date.
Several months after the record bid, the government announced in December last year that EC purchases would be subject to the 30 per cent MSR cap, a rule that many property analysts said would hit demand for the hybrid public-private homes.
Lake Life’s show flats will open on Saturday and Mr Ong hopes to secure buyers for at least half of the units on offer this weekend.
“While Lake Life is on the higher end of the spectrum, its lower selling price as compared to that of a private condominium means buyers will stand to reap even more returns in the future when taking into account the anticipated appreciation in market value when the EC is fully privatised,” he said.
-TODAY/cy
- wong chee tat :)
Keppel T&T confirms plans for data centre REIT
Keppel T&T confirms plans for data centre REIT
This follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million.
SINGAPORE: Keppel Telecommunications & Transportation (Keppel T&T) has confirmed that it is planning an initial public offering and that efforts to list a data centre real estate investment trust on the mainboard of the SGX are currently ongoing.
The statement came in a stock exchange filing on Thursday evening (Oct 30). It follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million (between S$255 million and S$511 million).
In its statement on Thursday, Keppel T&T said that it has submitted applications for the IPO to the SGX and the Monetary Authority of Singapore. However, it also added that the details of the terms of the IPO are still being finalised and that the proposed listing will be subject to, among other things, market conditions and relevant regulatory approvals being obtained.
A successful listing will make this the first data centre trust in Asia.
- CNA/ac
- wong chee tat :)
This follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million.
SINGAPORE: Keppel Telecommunications & Transportation (Keppel T&T) has confirmed that it is planning an initial public offering and that efforts to list a data centre real estate investment trust on the mainboard of the SGX are currently ongoing.
The statement came in a stock exchange filing on Thursday evening (Oct 30). It follows earlier reports that Keppel T&T is set to start pre-marketing for the IPO next week for a REIT of its data centres. The REIT is estimated at between US$200 million and US$400 million (between S$255 million and S$511 million).
In its statement on Thursday, Keppel T&T said that it has submitted applications for the IPO to the SGX and the Monetary Authority of Singapore. However, it also added that the details of the terms of the IPO are still being finalised and that the proposed listing will be subject to, among other things, market conditions and relevant regulatory approvals being obtained.
A successful listing will make this the first data centre trust in Asia.
- CNA/ac
- wong chee tat :)
Bank lending in Singapore flat in September
Bank lending in Singapore flat in September
Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August, central bank data showed.
SINGAPORE: Total bank lending in Singapore hardly changed in September from August, according to preliminary data from the Monetary Authority of Singapore (MAS) on Friday (Oct 31).
Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August. On a year-on-year basis, total bank lending rose 10.6 per cent in September from S$546.6 billion a year earlier.
Housing and bridging loans increased 6.5 per cent last month to S$174.5 billion from S$163.8 billion a year earlier, while credit card lending rose 7 per cent in September to S$9.98 billion from S$9.33 billion in the same period last year.
Overall, total consumer loans rose 5.7 per cent last month to S$233.6 billion from S$220.9 billion in September last year.
- CNA/cy
- wong chee tat :)
Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August, central bank data showed.
SINGAPORE: Total bank lending in Singapore hardly changed in September from August, according to preliminary data from the Monetary Authority of Singapore (MAS) on Friday (Oct 31).
Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August. On a year-on-year basis, total bank lending rose 10.6 per cent in September from S$546.6 billion a year earlier.
Housing and bridging loans increased 6.5 per cent last month to S$174.5 billion from S$163.8 billion a year earlier, while credit card lending rose 7 per cent in September to S$9.98 billion from S$9.33 billion in the same period last year.
Overall, total consumer loans rose 5.7 per cent last month to S$233.6 billion from S$220.9 billion in September last year.
- CNA/cy
- wong chee tat :)
System Updates: Router Changes
System Updates: Router Changes
Nothing much really except adding and allowing known MAC address to accessing wifi
- wong chee tat :)
Nothing much really except adding and allowing known MAC address to accessing wifi
- wong chee tat :)
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