Afternoon rain expected in first 2 weeks of November: NEA
"Short-duration thundery showers" are forecast mostly in the afternoon during the first fortnight of November, says the National Environment Agency.
POSTED: 02 Nov 2015 23:35
SINGAPORE: Thundery showers in the afternoon are expected through the next fortnight of the month due to inter-monsoon conditions, said the National Environment Agency (NEA) on Monday (Nov 2).
“Short-duration thundery showers” are forecast mostly in the afternoon on six to eight days during the first two weeks of November, said NEA, adding that the showers “may be heavy at times”. Dry and warm weather conditions can also be expected, with the maximum daily temperature forecast to be between 33 and 34 degrees Celsius, the agency added.
“Based on long-term statistics, November is the second wettest month in the year, after December. The rainfall for the first fortnight of November 2015 is likely to be near normal,” said NEA.
Singapore received below-average rainfall in the hazy month of October, with the lowest level of 52mm and 60mm recorded around Paya Lebar. Tuas saw the highest level of rainfall of between 151mm and 176mm last month.
“October 2015 marked the fifth consecutive month since June 2015 where the monthly total rainfall averaged across all rainfall stations island wide was significantly below the long-term monthly average,” NEA added.
- CNA/xq
- wong chee tat :)
Thursday, November 5, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance - POSB
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking | ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
04 November 2015
|
0410hrs to 0455hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry - Online Equity Trading (OET) |
05 November 2015
|
0420hrs to 0450hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry - Online Equity Trading (OET) |
05 November 2015
|
0300hrs to 0400hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
15 November 2015
|
0030hrs to 0830hrs
|
System Maintenance
- Token registration service |
mBanking | ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
04 November 2015
|
0410hrs to 0455hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
05 November 2015
|
0420hrs to 0450hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
05 November 2015
|
0300hrs to 0400hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
- wong chee tat :)
Gloom at StanChart S’pore as bank announced 15,000 job cuts globally
Gloom at StanChart S’pore as bank announced 15,000 job cuts globally
TODAY reports: Several StanChart employees said they were not so much shocked - as the job cuts have been in the offing for a while now - but they remained in an immense state of stress.
By Rumi Hardasmalani, TODAY
POSTED: 04 Nov 2015 09:39
SINGAPORE: The mood is sombre at Standard Chartered’s Singapore offices after the Asia-focused British lender announced on Tuesday (Nov 3) plans to cut 15,000 jobs from its 86,000 global workforce by 2018, while seeking to raise more than US$5 billion (S$7 billion) in new capital.
StanChart Singapore, which employs about 7,000 people and appointed Canadian Judy Hsu as its new CEO as recently as September, declined to comment on the number of jobs that will be cut here.
However, it did say that the bank has substantially completed 1,000 senior staff exits globally, while other positions will be whittled down through attrition.
Several of the bank’s employees, who TODAY spoke to on condition of anonymity, reflected the uncertainty that looms large over their future.
They said they were not so much shocked - as the job cuts have been in the offing for a while now - but they remained in an immense state of stress.
“We are indeed distracted and confused about what we should do next. We are certainly not in a position to negotiate better salaries with other potential employers. The uncertainty is quite scary. We are neither in a position to pick up nor refuse the not-so-attractive job offers in our hands,” said a senior-level StanChart Singapore staffer.
Another senior-level bank employee also noted the gloomy sentiment, but added: “The positive thing is that we are getting regular strategy updates from the CEO’s office these days.”
The senior-level and front-office employees are at a higher risk of being retrenched, with surplus talent in these segments of the market, recruiters told TODAY.
However, those in business-critical roles such as revenue-generation as well as risk-related, compliance and internal audit positions are relatively safe and are not likely to face the axe, they said.
“Even companies that are cutting costs would prioritise hires for these job functions,” said Ms Lynne Roeder, managing director of leading headhunter Hays Singapore.
Besides the global job cuts, London-based StanChart is also raising US$5.1 billion through a two-for-seven rights issue.
The rights shares will be priced at £4.65 (S$10.02) each, or a 35 per cent discount from the last traded price in London.
Singapore investment company Temasek Holdings, StanChart’s largest shareholder with a 15.8 per cent stake, will take up its full allocation.
“We are confirming our participation in the rights issue in proportion to our current holding in the bank,” Mr Stephen Forshaw, managing director Strategic & Public Affairs at Temasek, said in an email response.
According to StanChart, the capital raising is aimed at financing a planned US$3 billion investment over three years into strategic opportunities, technology and upgrading regulatory and compliance systems, besides strengthening balance sheets.
The latest revamp comes as StanChart reported a third-quarter operating loss of US$139 million, swinging from a US$1.5 billion profit in the previous corresponding period, owing to growing regulatory costs and rising loan impairments in India.
The bank said on Monday it targeted savings of US$2.9 billion by 2018 and will restructure or exit US$100 billion of risk-weighted assets after its expansion strategy in emerging markets such as India had backfired, leaving the bank saddled with huge debts.
China’s growth slowdown and sagging global commodity prices had also weighed on the bank’s performance.
StanChart CEO Bill Winters, who took the helm in June, said on Teusday: “The business environment in our markets remains challenging and our recent performance is disappointing. We will execute as quickly as possible to get through this transition phase. These actions will result in a lean, focused and well-capitalised bank, poised for growth.”
After the restructuring and earnings news, StanChart shares plunged 8.9 per cent to 649.80 pence at noon today in London.
- wong chee tat ):
TODAY reports: Several StanChart employees said they were not so much shocked - as the job cuts have been in the offing for a while now - but they remained in an immense state of stress.
By Rumi Hardasmalani, TODAY
POSTED: 04 Nov 2015 09:39
SINGAPORE: The mood is sombre at Standard Chartered’s Singapore offices after the Asia-focused British lender announced on Tuesday (Nov 3) plans to cut 15,000 jobs from its 86,000 global workforce by 2018, while seeking to raise more than US$5 billion (S$7 billion) in new capital.
StanChart Singapore, which employs about 7,000 people and appointed Canadian Judy Hsu as its new CEO as recently as September, declined to comment on the number of jobs that will be cut here.
However, it did say that the bank has substantially completed 1,000 senior staff exits globally, while other positions will be whittled down through attrition.
Several of the bank’s employees, who TODAY spoke to on condition of anonymity, reflected the uncertainty that looms large over their future.
They said they were not so much shocked - as the job cuts have been in the offing for a while now - but they remained in an immense state of stress.
“We are indeed distracted and confused about what we should do next. We are certainly not in a position to negotiate better salaries with other potential employers. The uncertainty is quite scary. We are neither in a position to pick up nor refuse the not-so-attractive job offers in our hands,” said a senior-level StanChart Singapore staffer.
Another senior-level bank employee also noted the gloomy sentiment, but added: “The positive thing is that we are getting regular strategy updates from the CEO’s office these days.”
The senior-level and front-office employees are at a higher risk of being retrenched, with surplus talent in these segments of the market, recruiters told TODAY.
However, those in business-critical roles such as revenue-generation as well as risk-related, compliance and internal audit positions are relatively safe and are not likely to face the axe, they said.
“Even companies that are cutting costs would prioritise hires for these job functions,” said Ms Lynne Roeder, managing director of leading headhunter Hays Singapore.
Besides the global job cuts, London-based StanChart is also raising US$5.1 billion through a two-for-seven rights issue.
The rights shares will be priced at £4.65 (S$10.02) each, or a 35 per cent discount from the last traded price in London.
Singapore investment company Temasek Holdings, StanChart’s largest shareholder with a 15.8 per cent stake, will take up its full allocation.
“We are confirming our participation in the rights issue in proportion to our current holding in the bank,” Mr Stephen Forshaw, managing director Strategic & Public Affairs at Temasek, said in an email response.
According to StanChart, the capital raising is aimed at financing a planned US$3 billion investment over three years into strategic opportunities, technology and upgrading regulatory and compliance systems, besides strengthening balance sheets.
The latest revamp comes as StanChart reported a third-quarter operating loss of US$139 million, swinging from a US$1.5 billion profit in the previous corresponding period, owing to growing regulatory costs and rising loan impairments in India.
The bank said on Monday it targeted savings of US$2.9 billion by 2018 and will restructure or exit US$100 billion of risk-weighted assets after its expansion strategy in emerging markets such as India had backfired, leaving the bank saddled with huge debts.
China’s growth slowdown and sagging global commodity prices had also weighed on the bank’s performance.
StanChart CEO Bill Winters, who took the helm in June, said on Teusday: “The business environment in our markets remains challenging and our recent performance is disappointing. We will execute as quickly as possible to get through this transition phase. These actions will result in a lean, focused and well-capitalised bank, poised for growth.”
After the restructuring and earnings news, StanChart shares plunged 8.9 per cent to 649.80 pence at noon today in London.
- wong chee tat ):
CapitaLand pulls out of talks to buy Asia Square Tower 1
CapitaLand pulls out of talks to buy Asia Square Tower 1
The deal, possibly valued at more than S$3.5 billion, would have been Singapore's largest office transaction. On Wednesday, the property developer also announced a 48.3 per cent year-on-year rise in profits.
POSTED: 04 Nov 2015 08:50 UPDATED: 04 Nov 2015 23:04
SINGAPORE: Property developer CapitaLand has pulled out of talks to buy the Asia Square Tower 1 office building - a deal which could have been Singapore's largest office transaction ever.
In an announcement made on the Singapore Exchange website early on Wednesday morning (Nov 4), CapitaLand said that the parties involved have ceased negotiations, but that it would "continue to explore opportunities which fit in the group's strategy and the terms of which allow the group to generate the required returns".
Bloomberg had previously reported that the deal valued Asia Square Tower 1, which is owned by asset manager BlackRock and which counts Citigroup and Swiss private bank Julius Baer among its tenants, at more than S$3.5 billion.
Mr John Saunders, head of Asia-Pacific for BlackRock Real Estate, said talks with other parties are still in progress.
“Asia Square is a trophy grade-A office building in Singapore, often considered as one of Asia’s best such developments, and negotiations with potential buyers of this asset continue," said Mr Saunders.
"While we are not in a position to comment on the details, we are pleased to have received significant global interest in this high-quality asset and are currently working to achieve the best outcome for our investors.”
Property consultancy Chestertons said the failure to close the deal reflects the reluctance of sellers to lower prices, despite weakening office rentals as new supply enters the market.
"The market will see some standstill in terms of the transactions, mainly because we are now entering in a second quarter of drop in terms of rentals. So it hasn't hit the market yet, at least in terms of the sellers," said Mr Donald Han, managing director at Chestertons.
"Sellers are still looking at historical high prices, in anticipation that the rentals they achieved, peak rentals from one to two years ago, would continue to filter through. So I think it would probably take about six to 12 months after we see a continuous drop in terms of prices. I think there will be more negotiation in terms of the seller's point in terms of pricing. Then you will start to see more deals transacting," he added.
On Oct 14, CapitaLand had confirmed that it and other parties were in talks to buy the 43-storey building, but added at the time: “As negotiations with the vendor of Asia Square Tower 1 and the other parties on the terms of the potential transaction are still ongoing, there is no certainty or assurance that any transaction for Asia Square Tower 1 will materialise or that any definitive or binding agreement will result from such negotiations."
On Wednesday, the property developer also reported its third-quarter earnings, with profit after tax and minority interests of S$192.7 million, up 48.3 per cent from the same period a year ago.
Group revenue increase 17.1 per cent in the quarter, which CapitaLand attributed to higher contributions from development projects in China offsetting lower revenue from projects in Singapore and Vietnam.
Sales in China more than doubled year-on-year, with the 2,422 units sold generating about S$800 million.
- CNA/es/xq
- wong chee tat ):
The deal, possibly valued at more than S$3.5 billion, would have been Singapore's largest office transaction. On Wednesday, the property developer also announced a 48.3 per cent year-on-year rise in profits.
POSTED: 04 Nov 2015 08:50 UPDATED: 04 Nov 2015 23:04
SINGAPORE: Property developer CapitaLand has pulled out of talks to buy the Asia Square Tower 1 office building - a deal which could have been Singapore's largest office transaction ever.
In an announcement made on the Singapore Exchange website early on Wednesday morning (Nov 4), CapitaLand said that the parties involved have ceased negotiations, but that it would "continue to explore opportunities which fit in the group's strategy and the terms of which allow the group to generate the required returns".
Bloomberg had previously reported that the deal valued Asia Square Tower 1, which is owned by asset manager BlackRock and which counts Citigroup and Swiss private bank Julius Baer among its tenants, at more than S$3.5 billion.
Mr John Saunders, head of Asia-Pacific for BlackRock Real Estate, said talks with other parties are still in progress.
“Asia Square is a trophy grade-A office building in Singapore, often considered as one of Asia’s best such developments, and negotiations with potential buyers of this asset continue," said Mr Saunders.
"While we are not in a position to comment on the details, we are pleased to have received significant global interest in this high-quality asset and are currently working to achieve the best outcome for our investors.”
Property consultancy Chestertons said the failure to close the deal reflects the reluctance of sellers to lower prices, despite weakening office rentals as new supply enters the market.
"The market will see some standstill in terms of the transactions, mainly because we are now entering in a second quarter of drop in terms of rentals. So it hasn't hit the market yet, at least in terms of the sellers," said Mr Donald Han, managing director at Chestertons.
"Sellers are still looking at historical high prices, in anticipation that the rentals they achieved, peak rentals from one to two years ago, would continue to filter through. So I think it would probably take about six to 12 months after we see a continuous drop in terms of prices. I think there will be more negotiation in terms of the seller's point in terms of pricing. Then you will start to see more deals transacting," he added.
On Oct 14, CapitaLand had confirmed that it and other parties were in talks to buy the 43-storey building, but added at the time: “As negotiations with the vendor of Asia Square Tower 1 and the other parties on the terms of the potential transaction are still ongoing, there is no certainty or assurance that any transaction for Asia Square Tower 1 will materialise or that any definitive or binding agreement will result from such negotiations."
On Wednesday, the property developer also reported its third-quarter earnings, with profit after tax and minority interests of S$192.7 million, up 48.3 per cent from the same period a year ago.
Group revenue increase 17.1 per cent in the quarter, which CapitaLand attributed to higher contributions from development projects in China offsetting lower revenue from projects in Singapore and Vietnam.
Sales in China more than doubled year-on-year, with the 2,422 units sold generating about S$800 million.
- CNA/es/xq
- wong chee tat ):
Lloyd's opens new, bigger office in CapitaGreen
Lloyd's opens new, bigger office in CapitaGreen
Lloyd's chief executive officer Inga Beale says the new location affirms Lloyd's intent to grow its business in the region.
By Patrick John Lim
POSTED: 04 Nov 2015 22:50 UPDATED: 04 Nov 2015 23:07
SINGAPORE: Insurance giant Lloyd's on Wednesday (Nov 4) opened its new, bigger office in CapitaGreen, as it looks to expand its presence and tap regional growth.
Lloyd’s has been operating in Singapore since 1999. It has grown to 20 service companies with 24 syndicates and more than 380 employees, making it Lloyd's largest hub outside London.
Lloyd's chief executive officer Inga Beale, who was in Singapore to open the new office, said the new location affirms Lloyd's intent to grow its business in the region.
She said: "Singapore is very clearly becoming the insurance and reinsurance hub for the region. I think it's the perfect combination for Singapore to become a real hub for insurance and reinsurance in the region."
- CNA/xk
- wong chee tat :)
Lloyd's chief executive officer Inga Beale says the new location affirms Lloyd's intent to grow its business in the region.
By Patrick John Lim
POSTED: 04 Nov 2015 22:50 UPDATED: 04 Nov 2015 23:07
SINGAPORE: Insurance giant Lloyd's on Wednesday (Nov 4) opened its new, bigger office in CapitaGreen, as it looks to expand its presence and tap regional growth.
Lloyd’s has been operating in Singapore since 1999. It has grown to 20 service companies with 24 syndicates and more than 380 employees, making it Lloyd's largest hub outside London.
Lloyd's chief executive officer Inga Beale, who was in Singapore to open the new office, said the new location affirms Lloyd's intent to grow its business in the region.
She said: "Singapore is very clearly becoming the insurance and reinsurance hub for the region. I think it's the perfect combination for Singapore to become a real hub for insurance and reinsurance in the region."
- CNA/xk
- wong chee tat :)
McNair Rd BTO project hits bump as contractor faces financial woes
McNair Rd BTO project hits bump as contractor faces financial woes
Channel 8 reports: Construction at McNair Towers, a Build-to-Order project of 861 residential units, has been halted but HDB says the development is set to be completed on time.
POSTED: 04 Nov 2015 20:23 UPDATED: 04 Nov 2015 20:25
SINGAPORE: The Housing and Development Board (HDB) has said it is looking for a replacement contractor for the McNair Towers Build-to-Order (BTO) project, after the contractor ran into financial issues.
Construction of the 861-unit public housing development at McNair Road has halted since October, said HDB in response to queries from Channel 8 News on Wednesday (Nov 4). The halt came after the contractor, Sembawang Engineers and Constructors, was found to be facing issues in the work process, said HDB, adding that the board had tried to help, but the progress was still “unsatisfactory”.
Thus, HDB said it decided to terminate Sembawang Engineers and Constructors’ services and seek a replacement. Although HDB said it is still looking for a contractor for McNair Towers, it stressed that the project is set to be completed on time - in the fourth quarter of 2016.
Sembawang Engineers and Constructors was awarded the tender for the project in November 2012, said HDB. McNair Towers is the only public housing project which the firm is in charge of, said HDB.
Over the past three years, HDB has terminated the services of contractors on several occasions after the firms went bankrupt, said the board. However, this has not caused delay in construction progress for its projects, HDB added.
McNair Towers was launched for sale in May 2012 and it comprises four blocks of residential units.
- CH8/xq
- wong chee tat :)
Channel 8 reports: Construction at McNair Towers, a Build-to-Order project of 861 residential units, has been halted but HDB says the development is set to be completed on time.
POSTED: 04 Nov 2015 20:23 UPDATED: 04 Nov 2015 20:25
SINGAPORE: The Housing and Development Board (HDB) has said it is looking for a replacement contractor for the McNair Towers Build-to-Order (BTO) project, after the contractor ran into financial issues.
Construction of the 861-unit public housing development at McNair Road has halted since October, said HDB in response to queries from Channel 8 News on Wednesday (Nov 4). The halt came after the contractor, Sembawang Engineers and Constructors, was found to be facing issues in the work process, said HDB, adding that the board had tried to help, but the progress was still “unsatisfactory”.
Thus, HDB said it decided to terminate Sembawang Engineers and Constructors’ services and seek a replacement. Although HDB said it is still looking for a contractor for McNair Towers, it stressed that the project is set to be completed on time - in the fourth quarter of 2016.
Sembawang Engineers and Constructors was awarded the tender for the project in November 2012, said HDB. McNair Towers is the only public housing project which the firm is in charge of, said HDB.
Over the past three years, HDB has terminated the services of contractors on several occasions after the firms went bankrupt, said the board. However, this has not caused delay in construction progress for its projects, HDB added.
McNair Towers was launched for sale in May 2012 and it comprises four blocks of residential units.
- CH8/xq
- wong chee tat :)
HDB resale prices remain flat in October: SRX Property
HDB resale prices remain flat in October: SRX Property
Prices for 4-room and 5-room flats fell while prices for 3-room and Executive flats rose.
POSTED: 05 Nov 2015 12:16 UPDATED: 05 Nov 2015 12:57
SINGAPORE: The resale prices of Housing and Development Board (HDB) flats were unchanged month-on-month in October, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Nov 5).
The resale prices for 3-room flats and Executive flats rose by 0.7 and 0.9 per cent, respectively, while the resale prices for 4- and 5-room flats fell 0.8 and 0.1 per cent, respectively.
Overall, prices have declined 2.6 per cent from the same period a year ago and 11.7 per cent from the peak in April 2013, SRX Property said.
A total of 1,745 HDB resale flats were sold last month, a 16 per cent rise from the 1,504 transacted units the previous month. Compared with a year ago, resale volume was up 12.4 per cent, SRX Property said.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was S$1,000 last month.
For HDB towns with more than 10 resale transactions, Bishan reported the highest median TOX of S$15,000, followed by Queenstown with S$7,000. The lowest median TOX were in Central Area and Hougang, at negative S$17,000 and negative S$5,500, respectively.
- CNA/av
- wong chee tat :)
Prices for 4-room and 5-room flats fell while prices for 3-room and Executive flats rose.
POSTED: 05 Nov 2015 12:16 UPDATED: 05 Nov 2015 12:57
SINGAPORE: The resale prices of Housing and Development Board (HDB) flats were unchanged month-on-month in October, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Nov 5).
The resale prices for 3-room flats and Executive flats rose by 0.7 and 0.9 per cent, respectively, while the resale prices for 4- and 5-room flats fell 0.8 and 0.1 per cent, respectively.
Overall, prices have declined 2.6 per cent from the same period a year ago and 11.7 per cent from the peak in April 2013, SRX Property said.
A total of 1,745 HDB resale flats were sold last month, a 16 per cent rise from the 1,504 transacted units the previous month. Compared with a year ago, resale volume was up 12.4 per cent, SRX Property said.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was S$1,000 last month.
For HDB towns with more than 10 resale transactions, Bishan reported the highest median TOX of S$15,000, followed by Queenstown with S$7,000. The lowest median TOX were in Central Area and Hougang, at negative S$17,000 and negative S$5,500, respectively.
- CNA/av
- wong chee tat :)
4-room flat at Pinnacle@Duxton sold for $990,000
4-room flat at Pinnacle@Duxton sold for $990,000
AsiaOneMonday, Nov 02, 2015
The Straits Times
SINGAPORE - A four-room resale flat at The Pinnacle@Duxton in Tanjong Pagar was recently sold for a record-breaking amount of $990,000, according to Shin Min Daily News.
The evening daily reported that the 93 sq metre unit, which is located on the 43rd to 45th storey, was sold in September.
This is the most expensive four-room HDB flat sold to date. According to Shin Min Daily News, a total of 20 four-room units were sold this year, with five units being sold for $950,000.
Despite property cooling measures, a total of seven five-room units were sold this year for at least $1 million per unit.
Head of investment sales at PropNex Realty, Mr Charles Chua, said that it is only a matter of time before four-room flats at the Pinnacle@Duxton are sold for $1 million.
"Pinnacle@Duxton flats are benchmarked against private property prices, not public housing. If a buyer has a budget of $1 million, instead of buying a private property in Pasir Ris, he might find a unit near the city to be more attractive," said Mr Chua.
The most expensive Pinnacle@Duxton unit sold this year was a five-room flat which went for a record $1.06 million in April.
Transactions at The Pinnacle@Duxton have set new records this year after the first batch of owners fulfilled the five-year minimum occupation period in December last year and were allowed to sell their flats.
According to The Straits Times, at the project's launch in 2004, new four-room flats were priced from $289,200 to $380,900, and five-room flats were from $345,100 to $439,400.
- wong chee tat ):
AsiaOneMonday, Nov 02, 2015
The Straits Times
SINGAPORE - A four-room resale flat at The Pinnacle@Duxton in Tanjong Pagar was recently sold for a record-breaking amount of $990,000, according to Shin Min Daily News.
The evening daily reported that the 93 sq metre unit, which is located on the 43rd to 45th storey, was sold in September.
This is the most expensive four-room HDB flat sold to date. According to Shin Min Daily News, a total of 20 four-room units were sold this year, with five units being sold for $950,000.
Despite property cooling measures, a total of seven five-room units were sold this year for at least $1 million per unit.
Head of investment sales at PropNex Realty, Mr Charles Chua, said that it is only a matter of time before four-room flats at the Pinnacle@Duxton are sold for $1 million.
"Pinnacle@Duxton flats are benchmarked against private property prices, not public housing. If a buyer has a budget of $1 million, instead of buying a private property in Pasir Ris, he might find a unit near the city to be more attractive," said Mr Chua.
The most expensive Pinnacle@Duxton unit sold this year was a five-room flat which went for a record $1.06 million in April.
Transactions at The Pinnacle@Duxton have set new records this year after the first batch of owners fulfilled the five-year minimum occupation period in December last year and were allowed to sell their flats.
According to The Straits Times, at the project's launch in 2004, new four-room flats were priced from $289,200 to $380,900, and five-room flats were from $345,100 to $439,400.
- wong chee tat ):
NOVEMBER 2015 1st Open Bidding Exercise
CATEGORY
|
QUOTA
|
BIDS RECEIVED
|
QP($)
|
PQP($)
| |
|---|---|---|---|---|---|
| A | CAR UP TO 1600CC & 97KW | 1664 | 2009 | 56,001 | - |
| B | CAR ABOVE 1600CC OR 97KW | 1037 | 1267 | 57,501 | - |
| C | GOODS VEHICLE & BUS | 241 | 372 | 43,809 | - |
| D | MOTORCYCLE | 329 | 402 | 5,912 | - |
| E | OPEN | 367 | 505 | 60,689 | - |
- wong chee tat :)
OCTOBER 2015 2nd Open Bidding Exercise
CATEGORY
|
QUOTA
|
BIDS RECEIVED
|
QP($)
|
PQP($)
| |
|---|---|---|---|---|---|
| A | CAR UP TO 1600CC & 97KW | 1690 | 2229 | 57,301 | 56,583 |
| B | CAR ABOVE 1600CC OR 97KW | 1073 | 1367 | 59,889 | 60,519 |
| C | GOODS VEHICLE & BUS | 192 | 340 | 42,303 | 45,848 |
| D | MOTORCYCLE | 355 | 430 | 6,302 | 6,248 |
| E | OPEN | 361 | 584 | 60,000 | - |
- wong chee tat :)
Local fashion brand M)phosis shuts all its S'pore outlets
Local fashion brand M)phosis shuts all its S'pore outlets
Jessica Lim My Paper Thursday, Nov 05, 2015
SINGAPORE - Fashion brand M)phosis, once cited as among the more successful home-grown labels, has shut all its stores here.
The Straits Times understands that all its outlets in Vietnam, Malaysia, the Philippines and Indonesia - more than 10 of them - are also currently in the process of folding.
Only its stores in China are still open.
"In China, we are still in the marketplace," the brand's director Hensley Teh told The Straits Times yesterday.
"We were having a severe cash flow situation. We were not able to continue despite wanting to. We did everything we could," he said, adding that all staff have been retrenched.
"We thank our customers who have supported us all these years."
The last M)phosis (pronounced "emphasis") outlet to shut here was the one in VivoCity on Aug 25, but now many former customers are expressing anger about being unable to redeem the vouchers they had bought.
Local fashion brand M)phosis shuts all its S'pore outlets
Fashion brand M)phosis, once cited as among the more successful home-grown labels, has shut all its stores here. Only its stores in China are still open.
"In China, we are still in the marketplace," the brand's director Hensley Teh told The Straits Times yesterday.
"We were having a severe cash flow situation. We were not able to continue despite wanting to. We did everything we could," he said, adding that all staff have been retrenched. M)phosis first opened here in 1994 at Change Alley. Catering to women aged 18 to 35 and selling clean-cut designs in solid colours, it soon expanded to more than 10 outlets here.
Cecilia Yeo, 37, said she was sold vouchers in April and was a "lifetime member" of the chain.
"I am supposed to get 10 per cent discount for a lifetime," the sales executive said, adding that she had $60 in vouchers unused. She would buy an M)phosis item every few months.
"When I bought (the vouchers), staff told me not to worry about the expiry date. They may have already known that they were going to shut down and they still sold the vouchers. That's not right."
Mr Teh said that he was "deeply sorry" that not all redemptions were honoured.
The chain had tried to reach out to as many customers as they could to ask them to make redemptions before the last outlet shut, he said, adding: "We don't take the matter lightly. But we are not in the position now to make any promises."
M)phosis first opened here in 1994 at Change Alley. Catering to women aged 18 to 35 and selling clean-cut designs in solid colours, it soon expanded to more than 10 outlets here.
By 1998, it had four stores in Jakarta and two in Kuala Lumpur. In 2009, it opened its first boutique in China. Since then, it had expanded into Dubai, Japan, Thailand, Vietnam, Australia, Hong Kong and the Philippines. The Dubai, Japan, Australia and Hong Kong stores shut several years ago.
At its peak, the brand had more than 30 outlets both here and overseas.
Sarah Lim, a senior retail lecturer at Singapore Polytechnic, said that stiff competition in the retail market was likely to blame for M)phosis' downfall.
"The brand sells many clothes in classic cuts and colours. But there are so many brands out there that sell the same thing. Large international names like Zara have similar items at lower prices with better designs," she said, adding that the firm may have spread itself too thin during the expansion phase.
Seah Seng Choon, executive director of the Consumers Association of Singapore, said that it would be difficult for customers to get refunds for unused vouchers.
"If the shop has already shut down here and there are no other places to redeem the vouchers, there is not much customers can do," he said, adding that they can choose to hire a lawyer to sue the firm.
"But doing this is costly and doesn't make sense. Also, even if they do that and win, the company may not have assets available for claiming and cannot honour the vouchers anyway."
- See more at: http://business.asiaone.com/news/local-fashion-brand-mphosis-shuts-all-its-spore-outlets-0#sthash.awpIsJgE.dpuf
- wong chee tat :)
Jessica Lim My Paper Thursday, Nov 05, 2015
SINGAPORE - Fashion brand M)phosis, once cited as among the more successful home-grown labels, has shut all its stores here.
The Straits Times understands that all its outlets in Vietnam, Malaysia, the Philippines and Indonesia - more than 10 of them - are also currently in the process of folding.
Only its stores in China are still open.
"In China, we are still in the marketplace," the brand's director Hensley Teh told The Straits Times yesterday.
"We were having a severe cash flow situation. We were not able to continue despite wanting to. We did everything we could," he said, adding that all staff have been retrenched.
"We thank our customers who have supported us all these years."
The last M)phosis (pronounced "emphasis") outlet to shut here was the one in VivoCity on Aug 25, but now many former customers are expressing anger about being unable to redeem the vouchers they had bought.
Local fashion brand M)phosis shuts all its S'pore outlets
Fashion brand M)phosis, once cited as among the more successful home-grown labels, has shut all its stores here. Only its stores in China are still open.
"In China, we are still in the marketplace," the brand's director Hensley Teh told The Straits Times yesterday.
"We were having a severe cash flow situation. We were not able to continue despite wanting to. We did everything we could," he said, adding that all staff have been retrenched. M)phosis first opened here in 1994 at Change Alley. Catering to women aged 18 to 35 and selling clean-cut designs in solid colours, it soon expanded to more than 10 outlets here.
Cecilia Yeo, 37, said she was sold vouchers in April and was a "lifetime member" of the chain.
"I am supposed to get 10 per cent discount for a lifetime," the sales executive said, adding that she had $60 in vouchers unused. She would buy an M)phosis item every few months.
"When I bought (the vouchers), staff told me not to worry about the expiry date. They may have already known that they were going to shut down and they still sold the vouchers. That's not right."
Mr Teh said that he was "deeply sorry" that not all redemptions were honoured.
The chain had tried to reach out to as many customers as they could to ask them to make redemptions before the last outlet shut, he said, adding: "We don't take the matter lightly. But we are not in the position now to make any promises."
M)phosis first opened here in 1994 at Change Alley. Catering to women aged 18 to 35 and selling clean-cut designs in solid colours, it soon expanded to more than 10 outlets here.
By 1998, it had four stores in Jakarta and two in Kuala Lumpur. In 2009, it opened its first boutique in China. Since then, it had expanded into Dubai, Japan, Thailand, Vietnam, Australia, Hong Kong and the Philippines. The Dubai, Japan, Australia and Hong Kong stores shut several years ago.
At its peak, the brand had more than 30 outlets both here and overseas.
Sarah Lim, a senior retail lecturer at Singapore Polytechnic, said that stiff competition in the retail market was likely to blame for M)phosis' downfall.
"The brand sells many clothes in classic cuts and colours. But there are so many brands out there that sell the same thing. Large international names like Zara have similar items at lower prices with better designs," she said, adding that the firm may have spread itself too thin during the expansion phase.
Seah Seng Choon, executive director of the Consumers Association of Singapore, said that it would be difficult for customers to get refunds for unused vouchers.
"If the shop has already shut down here and there are no other places to redeem the vouchers, there is not much customers can do," he said, adding that they can choose to hire a lawyer to sue the firm.
"But doing this is costly and doesn't make sense. Also, even if they do that and win, the company may not have assets available for claiming and cannot honour the vouchers anyway."
- See more at: http://business.asiaone.com/news/local-fashion-brand-mphosis-shuts-all-its-spore-outlets-0#sthash.awpIsJgE.dpuf
- wong chee tat :)
HDB’s First Issue of Rated Fixed Rate Notes
HDB’s First Issue of Rated Fixed Rate Notes
Published Date: 03 Nov 2015
The Housing & Development Board ("HDB") has issued S$1,200 million, 5-year Fixed Rate Notes (the “Notes”) under its S$32 billion Multicurrency Medium Term Note ("MTN") Programme.
2 The Notes have a coupon of 2.1% per annum payable semi-annually in arrear. The Notes were issued on 3 November 2015 and will mature on 3 November 2020. The Notes are rated Aaa by Moody’s Investors Service.
3 The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4 The Joint Lead Managers are DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited and RHB Securities Singapore Pte. Ltd.
5 Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6 HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore’s resident population, with more than 9 in 10 HDB dwellers owning the flats they live in. This has made Singapore one of the highest home ownership nations in the world. Providing affordable and quality housing, creating vibrant and sustainable towns, and promoting active and cohesive communities, will remain the focus for HDB.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.
- wong chee tat :)
Published Date: 03 Nov 2015
The Housing & Development Board ("HDB") has issued S$1,200 million, 5-year Fixed Rate Notes (the “Notes”) under its S$32 billion Multicurrency Medium Term Note ("MTN") Programme.
2 The Notes have a coupon of 2.1% per annum payable semi-annually in arrear. The Notes were issued on 3 November 2015 and will mature on 3 November 2020. The Notes are rated Aaa by Moody’s Investors Service.
3 The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4 The Joint Lead Managers are DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited and RHB Securities Singapore Pte. Ltd.
5 Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6 HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore’s resident population, with more than 9 in 10 HDB dwellers owning the flats they live in. This has made Singapore one of the highest home ownership nations in the world. Providing affordable and quality housing, creating vibrant and sustainable towns, and promoting active and cohesive communities, will remain the focus for HDB.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.
- wong chee tat :)
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