Blog Updates:
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Monday, November 30, 2015
Two industrial sites launched by JTC
A site at Tampines Industrial Drive was launched under the Confirmed List, while another site at Woodlands Height was launched under the Reserve List, says JTC.
POSTED: 24 Nov 2015 11:21
SINGAPORE: JTC on Tuesday (Nov 24) announced it is launching two industrial sites under the second half 2015 Industrial Government Land Sales Programme.
Under the Programme, the 0.41-hectare plot of land at Tampines Industrial Drive was launched under the Confirmed List. It is zoned for Business-2 development and has a 20-year tenure with a maximum permissible gross plot ratio of 1.4. Interested parties are to apply before the tender closes on Jan 19 at 11am, said the press release.
JTC has also launched a 1.61-ha Reserve List site at Woodlands Height. The site is zoned for Business-1 development and has a 30-year tenure with a maximum permissible gross plot ratio of 2.5.
Under the Reserve List system, a land parcel will only be released for sale if it receives an offer of a minimum price that is acceptable to the Government or when there is sufficient market interest for the site, according to the press release.
- CNA/kk
- wong chee tat :)
CPF Building sold for S$550m to Ascendas Land company
CPF Building sold for S$550m to Ascendas Land company
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
POSTED: 26 Nov 2015 12:26 UPDATED: 26 Nov 2015 23:37
SINGAPORE: The landmark CPF Building at 79 Robinson Road has been sold for a higher-than-expected S$550 million, the CPF Board announced on Thursday (Nov 26).
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
Ascendas plans to redevelop CPF Building into an office building with supporting retail elements, said Mr Manohar Khiatani, President & Group CEO of Ascendas and Deputy Group CEO of Ascendas-Singbridge.
"With the CPF Building, Ascendas would be able to offer quality CBD office space to complement our business park offerings to our customers in Singapore,” he added.
BID PRICE HIGHER THAN EXPECTED
Analysts had expected the building to fetch about S$450 million.
The CPF Board said the bid from Southernwood Property met all tender criteria, "including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner".
The other two bids were S$538.28 million by Leapford, a company owned by Pacific Century Regional Developments, and S$280 million by OUE Reef Development.
The CPF Board will be moving to Novena Square Towers “to free up prime office space in the Central Business District for higher-value uses”. Its corporate operations relocated on Nov 23.
The CPF Service Centre will continue to operate at 79 Robinson Road until further notice.
- CNA/dl
- wong chee tat :)
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
POSTED: 26 Nov 2015 12:26 UPDATED: 26 Nov 2015 23:37
SINGAPORE: The landmark CPF Building at 79 Robinson Road has been sold for a higher-than-expected S$550 million, the CPF Board announced on Thursday (Nov 26).
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
Ascendas plans to redevelop CPF Building into an office building with supporting retail elements, said Mr Manohar Khiatani, President & Group CEO of Ascendas and Deputy Group CEO of Ascendas-Singbridge.
"With the CPF Building, Ascendas would be able to offer quality CBD office space to complement our business park offerings to our customers in Singapore,” he added.
BID PRICE HIGHER THAN EXPECTED
Analysts had expected the building to fetch about S$450 million.
The CPF Board said the bid from Southernwood Property met all tender criteria, "including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner".
The other two bids were S$538.28 million by Leapford, a company owned by Pacific Century Regional Developments, and S$280 million by OUE Reef Development.
The CPF Board will be moving to Novena Square Towers “to free up prime office space in the Central Business District for higher-value uses”. Its corporate operations relocated on Nov 23.
The CPF Service Centre will continue to operate at 79 Robinson Road until further notice.
- CNA/dl
- wong chee tat :)
Lower Property Tax in 2016
Lower Property Tax in 2016
- wong chee tat :)
30 Nov 2015
With Annual Values of HDB and private residential properties reduced in line with market rentals, 93% of residential property owners will pay lower property tax.
All HDB flat owners will pay lower or no property tax next year while 8 in 10 private residential property owners will pay lower property tax in 2016. In particular, all 1- and 2-room HDB flat owner-occupiers and 28,200 3-room HDB flat owner-occupiers will not have to pay any property tax when the revised annual values take effect from 1 Jan 2016.
The tax savings for HDB flats will range from 9% to 24%, compared to property tax paid in 2015. Of the private residential properties with reduced annual values, more than 80% will see tax savings of between 3% and 20%.
Lower Property Tax in 2016 for Owner-Occupied HDB Flats
| HDB Flat Type | 2016 Property Tax Payable | 2015 Property Tax Payable | Savings in 20161 |
|---|---|---|---|
| 3-Room Flat | $0 - $37.60 | $1.60 - $49.60 | $1.60-$12.00 (At least 24%) |
| 4-Room Flat | $71.20 - $119.20 | $85.60 - $133.60 | $14.40 (At least 11%) |
| 5-Room Flat | $104.80 - $152.80 | $121.60 - $169.60 | $16.80 (At least 10%) |
| Executive Flat2 | $116.80 - $164.80 | $133.60 - $181.60 | $16.80 (At least 9%) |
The Inland Revenue Authority of Singapore (IRAS) reviews the Annual Values (AVs) of properties annually to ensure that they reflect prevailing market rentals. Property tax is a tax on property ownership and it is payable on all properties regardless whether the property is rented out, owner-occupied, or left vacant. Property tax is computed on AVs, by multiplying the AV of the property with the relevant set of progressive property tax rates for residential properties. The concessionary ‘Owner-Occupier Residential Tax Rates’ is applied on owner-occupied residential properties while the ‘Residential Tax Rates’ is applied on non-owner-occupied properties (Refer to Annex 1).
Simplified e-Service to Check Property Tax Payable New!
Property owners can use a new e-Service - ‘e-Property Tax Balance’ – to check if there is any tax payable on their properties and whether the current payment mode is by GIRO. Property owners simply enter the property tax reference number or property address and the NRIC of any of the owners to find out the property tax payable.
Pay Your 2016 Property Tax by 31 Jan 2016
Property tax has to be paid by 31 Jan 2016. IRAS encourages property owners to join GIRO to enjoy up to 12 interest-free monthly instalments or opt for a one-time deduction. Taxpayers who have bank accounts with DBS/POSB, UOB or OCBC can apply for GIRO via Internet Banking and receive instant approval.
A 5% penalty will be imposed on property owners who fail to pay or have not arranged to pay their tax by 31 Jan 2016. Property owners facing financial difficulties are advised to contact IRAS at 1800-356 8300 before the due date to discuss a suitable payment plan.
For more information and answers to frequently asked questions, please visit www.iras.gov.sg> Property> Property Owners> 2016 Property Tax Bills.
1Tax Savings and Property Tax Payable are calculated based on owner-occupied HDB flats.
2This does not include Executive Condominiums.
Inland Revenue Authority of Singapore
- wong chee tat :)
Demand for Singapore Savings Bond falls sharply in 3rd issue
Demand for Singapore Savings Bond falls sharply in 3rd issue
POSTED: 26 Nov 2015 22:00
SINGAPORE: The third issue of the Singapore Savings Bond saw scant interest from investors, who applied for only a small fraction of the maximum available.
The Monetary Authority of Singapore (MAS) said on Thursday (Nov 26) that for the December issue, total application within individual allotment limits amounted to S$40.99 million, well below the maximum allotment of S$1.2 billion.
The application amount was down sharply from S$257 million for the previous month's issue and S$413 million for the first tranche.
Singapore Savings Bonds offer individuals a safe, long-term, flexible savings option that pays higher interest over time.
For the December issue, the bond will pay investors an average interest rate of 2.44 per cent if it is held for the full 10 years.
In the second tranche, investors could earn an average interest rate of 2.78 per cent over a 10-year tenure, while the first issue would pay an average interest rate of 2.63 per cent.
Investors can choose to redeem Singapore Savings Bonds monthly at face value, unlike in the case of conventional bonds whose market price can fluctuate.
- CNA/xq
- wong chee tat :)
POSTED: 26 Nov 2015 22:00
SINGAPORE: The third issue of the Singapore Savings Bond saw scant interest from investors, who applied for only a small fraction of the maximum available.
The Monetary Authority of Singapore (MAS) said on Thursday (Nov 26) that for the December issue, total application within individual allotment limits amounted to S$40.99 million, well below the maximum allotment of S$1.2 billion.
The application amount was down sharply from S$257 million for the previous month's issue and S$413 million for the first tranche.
Singapore Savings Bonds offer individuals a safe, long-term, flexible savings option that pays higher interest over time.
For the December issue, the bond will pay investors an average interest rate of 2.44 per cent if it is held for the full 10 years.
In the second tranche, investors could earn an average interest rate of 2.78 per cent over a 10-year tenure, while the first issue would pay an average interest rate of 2.63 per cent.
Investors can choose to redeem Singapore Savings Bonds monthly at face value, unlike in the case of conventional bonds whose market price can fluctuate.
- CNA/xq
- wong chee tat :)
Singapore bank lending shrank in October, credit card billings rose
Singapore bank lending shrank in October, credit card billings rose
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August.
POSTED: 30 Nov 2015 13:09
SINGAPORE: Bank lending in Singapore fell for the second straight month in October as loans to businesses declined, data from the Monetary Authority of Singapore (MAS) showed on Monday (Nov 30).
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August, in a sign that economic activity is slowing. Compared to a year ago, bank lending fell 0.4 per cent.
Loans to businesses fell 1.9 per cent month-on-month to S$360.2 billion in October, while consumer loans edged up 0.2 per cent to S$241.5 billion.
Meanwhile, credit card billings rose 5.6 per cent in October from a year ago to S$4.115 billion.
Banks wrote off S$28 million in bad debts, up from S$27.2 million in September and S$26.4 million a year ago.
The rate of increase in bad credit card debts – at 6.1 per cent year-on-year – was, however, much slower than the rise seen in recent months.
- CNA/cy
- wong chee tat :)
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August.
POSTED: 30 Nov 2015 13:09
SINGAPORE: Bank lending in Singapore fell for the second straight month in October as loans to businesses declined, data from the Monetary Authority of Singapore (MAS) showed on Monday (Nov 30).
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August, in a sign that economic activity is slowing. Compared to a year ago, bank lending fell 0.4 per cent.
Loans to businesses fell 1.9 per cent month-on-month to S$360.2 billion in October, while consumer loans edged up 0.2 per cent to S$241.5 billion.
Meanwhile, credit card billings rose 5.6 per cent in October from a year ago to S$4.115 billion.
Banks wrote off S$28 million in bad debts, up from S$27.2 million in September and S$26.4 million a year ago.
The rate of increase in bad credit card debts – at 6.1 per cent year-on-year – was, however, much slower than the rise seen in recent months.
- CNA/cy
- wong chee tat :)
Private schools face falling enrolment, tough market conditions
Private schools face falling enrolment, tough market conditions
Staying relevant to the job market is key to ensure private schools' survival, say operators.
By Faris Mokhtar
POSTED: 30 Nov 2015 19:55
SINGAPORE: The number of private schools in Singapore has fallen since 2011, and at least six more are set to close, according to statistics from the Council for Private Education.
To tackle falling enrolment and harsher market conditions, operators have said staying relevant to the job market is key.
In total, 14 schools have ceased operations as of November this year, and six more are in the process of shutting down. The number of private schools has also dwindled, from 338 in 2011 to 312 in 2014.
One of them is SAE Creative Media Institute, which offers diploma and degree courses such as digital film production and audio engineering. It will shut its doors by next October. The school, which has been operating for over two decades, cited rising costs and falling demand.
Private schools have said the landscape now is more competitive. Market forces, such as the strong Singapore dollar, could deter foreign students from studying at the schools, and this is coupled with growing competition from local public institutions.
The Council for Private Education, which regulates the sector, said the number of students at private schools have dipped by 8 per cent, from about 163,000 in 2013 to just under 150,000 last year. To tackle this, schools said their courses must stay relevant to the job market.
“What we have been hearing from the industries and employers is that they are short of talents,” said Dr Lee Kwok Cheong, president of the Singapore Association for Private Education (SAPE) and chief executive of SIM Global Education. “So, there is demand for well-trained people. We need to find the right programme and beyond the classroom training, we must be able to link up with the industry for internships and more industry-oriented real-life projects.”
Among the schools that are doing this is Kaplan Singapore, which has more than 25,000 students. It said it has engaged the various sectors to learn about the skills required in the job market, and to link up opportunities for its students.
Mr Leon Choong, president of Kaplan Singapore, explained: "There’s a huge shortage within law firms for qualified paralegals who are able to help them in the course of their work. So, what we do is offer a diploma in paralegal studies that provides people with the opportunities to function within the legal firm, and law firms are happy because this is an identified shortage that they’ve been training in house for years. And now we have a ready batch of students for them to take on as interns as well as qualified employees.”
For smaller schools, operators said it is better for them to focus on niche curricula.
First Media Design School has been in operation for close to a decade, and it currently has more than 100 students. The school, which provides degree and diploma courses in graphic and fashion design, is banking on its idea of "designpreneurship" to set itself apart. This means teaching students to navigate the business aspect of their profession, like how to pitch projects to clients.
“I used to think that education is a recession-proof business, but it’s not. It does dampen our spirits sometimes, especially the closure of smaller schools. I see this as the survival of the fittest,” said Mr Mark Phooi, founder and principal of First Media Design School. “I see only two types of schools will survive - the supermarket style where they produce or roll out a string of programmes and the niche ones like us.
“I think primarily, if we don’t have the particular credentials in certain areas of teaching, I think the market is savvy enough to pick that out,” he added. “So, to a certain extent I think people are looking at specialisations as being key to their own career development. It is important for small players like us and for the rest of them to have a certain niche.”
But operators have said diversity is still crucial.
Said Dr Lee: “If we only have one or two providers, we are going to be in trouble. So, it's really having different players, each is strong and good in his own way, and the students have sufficient information to make the right choice. I think that should be the future of the private education landscape.”
Dr Lee also said schools need to continue to invest in technology and other resources to deliver quality education.
- CNA/xq
- wong chee tat :)
Staying relevant to the job market is key to ensure private schools' survival, say operators.
By Faris Mokhtar
POSTED: 30 Nov 2015 19:55
SINGAPORE: The number of private schools in Singapore has fallen since 2011, and at least six more are set to close, according to statistics from the Council for Private Education.
To tackle falling enrolment and harsher market conditions, operators have said staying relevant to the job market is key.
In total, 14 schools have ceased operations as of November this year, and six more are in the process of shutting down. The number of private schools has also dwindled, from 338 in 2011 to 312 in 2014.
One of them is SAE Creative Media Institute, which offers diploma and degree courses such as digital film production and audio engineering. It will shut its doors by next October. The school, which has been operating for over two decades, cited rising costs and falling demand.
Private schools have said the landscape now is more competitive. Market forces, such as the strong Singapore dollar, could deter foreign students from studying at the schools, and this is coupled with growing competition from local public institutions.
The Council for Private Education, which regulates the sector, said the number of students at private schools have dipped by 8 per cent, from about 163,000 in 2013 to just under 150,000 last year. To tackle this, schools said their courses must stay relevant to the job market.
“What we have been hearing from the industries and employers is that they are short of talents,” said Dr Lee Kwok Cheong, president of the Singapore Association for Private Education (SAPE) and chief executive of SIM Global Education. “So, there is demand for well-trained people. We need to find the right programme and beyond the classroom training, we must be able to link up with the industry for internships and more industry-oriented real-life projects.”
Among the schools that are doing this is Kaplan Singapore, which has more than 25,000 students. It said it has engaged the various sectors to learn about the skills required in the job market, and to link up opportunities for its students.
Mr Leon Choong, president of Kaplan Singapore, explained: "There’s a huge shortage within law firms for qualified paralegals who are able to help them in the course of their work. So, what we do is offer a diploma in paralegal studies that provides people with the opportunities to function within the legal firm, and law firms are happy because this is an identified shortage that they’ve been training in house for years. And now we have a ready batch of students for them to take on as interns as well as qualified employees.”
For smaller schools, operators said it is better for them to focus on niche curricula.
First Media Design School has been in operation for close to a decade, and it currently has more than 100 students. The school, which provides degree and diploma courses in graphic and fashion design, is banking on its idea of "designpreneurship" to set itself apart. This means teaching students to navigate the business aspect of their profession, like how to pitch projects to clients.
“I used to think that education is a recession-proof business, but it’s not. It does dampen our spirits sometimes, especially the closure of smaller schools. I see this as the survival of the fittest,” said Mr Mark Phooi, founder and principal of First Media Design School. “I see only two types of schools will survive - the supermarket style where they produce or roll out a string of programmes and the niche ones like us.
“I think primarily, if we don’t have the particular credentials in certain areas of teaching, I think the market is savvy enough to pick that out,” he added. “So, to a certain extent I think people are looking at specialisations as being key to their own career development. It is important for small players like us and for the rest of them to have a certain niche.”
But operators have said diversity is still crucial.
Said Dr Lee: “If we only have one or two providers, we are going to be in trouble. So, it's really having different players, each is strong and good in his own way, and the students have sufficient information to make the right choice. I think that should be the future of the private education landscape.”
Dr Lee also said schools need to continue to invest in technology and other resources to deliver quality education.
- CNA/xq
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
prajñāpāramita-hṛdayam sūtra
prajñāpāramita-hṛdayam sūtra
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
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