Singaporeans' understanding of basic money management getting worse: Survey
POSTED: 27 Apr 2015 15:45
UPDATED: 28 Apr 2015 09:11
“Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans,” says MasterCard.
SINGAPORE: The Republic has recorded the largest decline in financial literacy in the Asia Pacific - dropping from second to sixth place, according to the MasterCard Financial Literacy Index.
In a news release on Monday (27 Apr), MasterCard said Singapore slid four index points to score 68 index points in financial literacy, while New Zealand ranked second with 71 points, losing the top spot to Taiwan.
The annual survey, conducted between July and Aug 2014 on 8,087 respondents aged 18 to 64 in 16 countries in the Asia Pacific, covers three components: Basic Money Management, Financial Planning and Investment.
The key reason for the decline in Singapore’s financial literacy is the fall in consumers’ understanding of basic money management, said the release. “Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans.”
Singapore is not the only country that experienced a drop, as MasterCard revealed that the struggle to improve financial literacy “is taking place throughout the region”. Progress towards improving basic finance knowledge and skills across Asia Pacific has stalled as 12 of 16 countries recorded lower scores in financial literacy, the release added.
Other countries that saw a decline include Australia and Japan, both down by two points to fourth and sixteenth place respectively. This was also attributed as the reason behind Hong Kong’s advancement from fifth to third place.
While developed markets tend to rank higher than emerging markets such as Myanmar and Vietnam, Japan remains the outlier, staying in the bottom spot for the 3rd consecutive year.
“There is no one reason for the falling level of financial literacy across the region but the data clearly shows that the young and unemployed need additional support. Educating people so they can plan for the future is a crucial aspect of financial inclusion,” said Mr T V Seshadri, Group Executive, Global Products and Solutions, MasterCard Asia Pacific.
“In both developed and emerging markets, people are struggling to understand basic financial concepts such as inflation," he said. "In addition, while Asia Pacific is a region of savers, the lack of retirement planning should cause particular concern. It is not enough to provide access to financial services, we must ensure that everyone knows how to save, budget and invest so that their wellbeing can be secured over the long term.”
MasterCard Singapore group head and general manager Deborah Heng, added that a practical understanding of how to manage money, including saving and borrowing, should be provided by parents and taught at school.
“Crucial to improving financial literacy is encouraging education at an early age. The goal is to eventually develop financial know-how so that people can effectively manage money matters such as household cash-flows and loans,” she said.
- CNA/ct
- wong chee tat :)
Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts
Tuesday, April 28, 2015
Wednesday, October 15, 2014
Singapore private home sales up sharply in September
Singapore private home sales up sharply in September
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Friday, September 19, 2014
HDB Issues Fixed Rate Notes
HDB Issues Fixed Rate Notes
Date issued : 19 Sep 2014
The Housing and Development Board ("HDB") has issued S$500 million, 5-year Fixed Rate Notes (the “Notes”) under its S$32 billion Multicurrency Medium Term Note ("MTN") Programme.
2The Notes have a coupon of 2.288% per annum payable semi-annually in arrear. The Notes were issued on 19 September 2014 and will mature on 19 September 2019.
3The 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.
4The Lead Manager is Standard Chartered Bank.
5Under 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.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables about 80% of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, 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 :)
Date issued : 19 Sep 2014
The Housing and Development Board ("HDB") has issued S$500 million, 5-year Fixed Rate Notes (the “Notes”) under its S$32 billion Multicurrency Medium Term Note ("MTN") Programme.
2The Notes have a coupon of 2.288% per annum payable semi-annually in arrear. The Notes were issued on 19 September 2014 and will mature on 19 September 2019.
3The 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.
4The Lead Manager is Standard Chartered Bank.
5Under 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.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables about 80% of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, 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 :)
Tuesday, July 22, 2014
Temporary extension of stay for resale flats
Temporary extension of stay for resale flats
- wong chee tat :)
Date issued : 22 Jul 2014
Sellers of HDB flats will, with effect from today, be able to negotiate with their buyers for a temporary extension of stay in their HDB flats, by up to three months. This is part of HDB’s regular review to respond to the needs of HDB resale flat sellers and buyers. This move will facilitate sellers who are transiting to their next homes, including those who may need more time for renovation or those awaiting funds from the sale of their current flats, eg. contra cases.
Relaxed Rule to Help Flat Sellers
2Flat sellers who wish to extend their stay temporarily must have committed to buy a completed housing unit1 in Singapore at the time of the resale application, i.e. they must have exercised an Option to Purchase or signed a Sale and Purchase Agreement.
3The request for the extension of stay is to be submitted to HDB at the time of the resale application.
4The extension of stay will automatically cease at the end of three months. Any earlier termination must also be communicated to HDB, as this will impact flat buyers’ Minimum Occupation Period, which commences on the day when they take over the flat.
Private Agreement
5Any such arrangements are, however, subject to the agreement of buyers. Details of the extension, including the duration and monetary compensation, if any, must be mutually agreed to by both parties.
Enquiries
6HDB estimates that 15% of total resale transactions, ie. some 2700 households a year, will benefit from this relaxed rule (based on total resale volume of 18,100 in 2013).
7For further enquiries, the public can contact HDB at 1800-8663066.
1 The housing unit can be another HDB flat or a private residential property.
- wong chee tat :)
Wednesday, July 9, 2014
Tuesday, July 8, 2014
What Investors Need to Know About Frasers Hospitality Trust’s Initial Public Offering
What Investors Need to Know About Frasers Hospitality Trust’s Initial Public Offering
By Sudhan P - June 24, 2014
Frasers Hospitality Trust (FHT) is slated to be the newest kid on the block in the neighbourhood of real estate investment trusts and business trusts. This comes barely seven months after FHT’s sponsor Frasers Centrepoint (SGX: TQ5) went public.
Real estate developer Frasers Centrepoint was spun-off from the conglomerate Fraser and Neave(SGX: F99).
Once FHT goes public on 14 July 2014, it will be the first global hotel and serviced residence stapled trust listed in Singapore’s share market.
The initial portfolio of FHT will comprise of 12 properties – six hotels and six serviced residences – that come from TCC Group and Frasers Centrepoint.
The hotels are InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe, and Westin Kuala Lumpur. These hotels are from the TCC Group, which happen to be one of Frasers Centrepoint’s major shareholders.
Meanwhile, the six serviced residences are Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh. These properties come from Frasers Centrepoint.
Based on the above, FHT’s portfolio will boast a total of 1,928 hotel rooms and 842 serviced residence units. The properties, which serve the mid-scale to luxury market segments, are located in Australia, the United Kingdom, Japan, Malaysia and Singapore.
According to a draft prospectus filed with the Monetary Authority of Singapore, FHT will sell 182.1 million stapled securities at S$0.88 apiece. Each stapled security consists of a unit of Frasers Hospitality Real Estate Investment Trust and a unit of Frasers Hospitality Business Trust.
There are a number of FHT’s potential-properties that are under master leases. In the case of a loss of any master lessees, Frasers Hospitality Business Trust will, as a last resort, step in as the master lessee or tenant.
The total number of outstanding stapled securities immediately after the completion of the initial public offering (IPO) will be 1.19 billion, which include offerings to the vendor of Fraser Suites Singapore, vendors of the hotels that are part of the portfolio, and cornerstone investors such as DBS Group Holdings (SGX: D05) and Fortress Capital Asset Management. This translates to a market capitalisation of S$1.04 billion for FHT based on its IPO price.
Frasers Centrepoint and TCC Group will hold 65% of FHT immediately following the IPO, assuming that the over-allotment option is not exercised. This helps align the interests of the parties behind the IPO and the new stapled security holders that buy-in during the offering.
The distribution yield for FHT is projected to be 7%. The net asset value per stapled security will be S$0.83, translating to a price-to-book (PB) ratio of 1.06.
Risks
There are a number of risks that potential investors have to take note of. The first has to do with the gearing ratio and the other has to do with financial engineering.
The gearing ratio of FHT will be 41.7% according to its prospectus. According to an analyst report by Maybank-Kim Eng dated 23 June 2014, the average gearing ratio of all the hospitality trusts listed here is at 32.8%. A trust with a gearing ratio that’s too high will be more vulnerable to downturns in the property cycle as it still has to continue to service its borrowings despite the downturn.
Moving on to the financial engineering-related risks, there is a provision for a payment top-up where the vendor of InterContinental Singapore and one of the vendors of Fraser Suites Singapore will deposit a total of S$9.7 million in escrow. When the gross operating profit of the relevant property falls below certain thresholds, the REIT Trustee will be able to draw down on these amounts. The payment top-up will be in force from the date of listing to 30 November 2015. Beyond that, if the gross operating profit continues to fall short, stapled security holders of FHT will be left wanting.
Without the payment top-up, the distribution yield for FHT will drop to 6.5% from the projected 7%. According to the report by Maybank-Kim Eng, the average distribution yield of hospitality trusts listed here is 6.8%. Excluding the payment top-up, the yield of FHT is actually slightly below average. When OUE Commercial REIT (SGX: TS0U) went public, it too engaged in similar kinds of financial engineering to shore up its yield.
Going forward
Frasers Centrepoint, directly and/or indirectly, owns 12 properties, of which five are hotels and seven are serviced residences and these could potentially be injected into FHT in the future. Furthermore, there are six hotels directly and/or indirectly owned by TCC Group, which could also be offered to FHT.
If all the 18 properties are acquired by FHT, the total number of hotel rooms and serviced residence units of FHT will increase by 2,372 and 1,135 respectively, resulting in a total 143% increase in the portfolio size for the stapled trust. According to the draft prospectus, the 18 properties will “provide a visible pipeline to FHT, offering potential opportunities for portfolio growth”.
Foolish Summary
Here’s a quick round up of what I’ve discussed: 1) FHT will debut in our shores on 14 July 2014 as mentioned earlier; 2) with an offer price of S$0.88, it gives potential investors a yield of 7% (with payment top-up) at a PB ratio of 1.06; 3) risks associated with the stapled trust include its high gearing ratio and a potential decrease in income; 4) lastly, its growth factors include the possible injection of the properties currently held by Frasers Centrepoint and TCC Group.
- wong chee tat :)
By Sudhan P - June 24, 2014
Frasers Hospitality Trust (FHT) is slated to be the newest kid on the block in the neighbourhood of real estate investment trusts and business trusts. This comes barely seven months after FHT’s sponsor Frasers Centrepoint (SGX: TQ5) went public.
Real estate developer Frasers Centrepoint was spun-off from the conglomerate Fraser and Neave(SGX: F99).
Once FHT goes public on 14 July 2014, it will be the first global hotel and serviced residence stapled trust listed in Singapore’s share market.
The initial portfolio of FHT will comprise of 12 properties – six hotels and six serviced residences – that come from TCC Group and Frasers Centrepoint.
The hotels are InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe, and Westin Kuala Lumpur. These hotels are from the TCC Group, which happen to be one of Frasers Centrepoint’s major shareholders.
Meanwhile, the six serviced residences are Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh. These properties come from Frasers Centrepoint.
Based on the above, FHT’s portfolio will boast a total of 1,928 hotel rooms and 842 serviced residence units. The properties, which serve the mid-scale to luxury market segments, are located in Australia, the United Kingdom, Japan, Malaysia and Singapore.
According to a draft prospectus filed with the Monetary Authority of Singapore, FHT will sell 182.1 million stapled securities at S$0.88 apiece. Each stapled security consists of a unit of Frasers Hospitality Real Estate Investment Trust and a unit of Frasers Hospitality Business Trust.
There are a number of FHT’s potential-properties that are under master leases. In the case of a loss of any master lessees, Frasers Hospitality Business Trust will, as a last resort, step in as the master lessee or tenant.
The total number of outstanding stapled securities immediately after the completion of the initial public offering (IPO) will be 1.19 billion, which include offerings to the vendor of Fraser Suites Singapore, vendors of the hotels that are part of the portfolio, and cornerstone investors such as DBS Group Holdings (SGX: D05) and Fortress Capital Asset Management. This translates to a market capitalisation of S$1.04 billion for FHT based on its IPO price.
Frasers Centrepoint and TCC Group will hold 65% of FHT immediately following the IPO, assuming that the over-allotment option is not exercised. This helps align the interests of the parties behind the IPO and the new stapled security holders that buy-in during the offering.
The distribution yield for FHT is projected to be 7%. The net asset value per stapled security will be S$0.83, translating to a price-to-book (PB) ratio of 1.06.
Risks
There are a number of risks that potential investors have to take note of. The first has to do with the gearing ratio and the other has to do with financial engineering.
The gearing ratio of FHT will be 41.7% according to its prospectus. According to an analyst report by Maybank-Kim Eng dated 23 June 2014, the average gearing ratio of all the hospitality trusts listed here is at 32.8%. A trust with a gearing ratio that’s too high will be more vulnerable to downturns in the property cycle as it still has to continue to service its borrowings despite the downturn.
Moving on to the financial engineering-related risks, there is a provision for a payment top-up where the vendor of InterContinental Singapore and one of the vendors of Fraser Suites Singapore will deposit a total of S$9.7 million in escrow. When the gross operating profit of the relevant property falls below certain thresholds, the REIT Trustee will be able to draw down on these amounts. The payment top-up will be in force from the date of listing to 30 November 2015. Beyond that, if the gross operating profit continues to fall short, stapled security holders of FHT will be left wanting.
Without the payment top-up, the distribution yield for FHT will drop to 6.5% from the projected 7%. According to the report by Maybank-Kim Eng, the average distribution yield of hospitality trusts listed here is 6.8%. Excluding the payment top-up, the yield of FHT is actually slightly below average. When OUE Commercial REIT (SGX: TS0U) went public, it too engaged in similar kinds of financial engineering to shore up its yield.
Going forward
Frasers Centrepoint, directly and/or indirectly, owns 12 properties, of which five are hotels and seven are serviced residences and these could potentially be injected into FHT in the future. Furthermore, there are six hotels directly and/or indirectly owned by TCC Group, which could also be offered to FHT.
If all the 18 properties are acquired by FHT, the total number of hotel rooms and serviced residence units of FHT will increase by 2,372 and 1,135 respectively, resulting in a total 143% increase in the portfolio size for the stapled trust. According to the draft prospectus, the 18 properties will “provide a visible pipeline to FHT, offering potential opportunities for portfolio growth”.
Foolish Summary
Here’s a quick round up of what I’ve discussed: 1) FHT will debut in our shores on 14 July 2014 as mentioned earlier; 2) with an offer price of S$0.88, it gives potential investors a yield of 7% (with payment top-up) at a PB ratio of 1.06; 3) risks associated with the stapled trust include its high gearing ratio and a potential decrease in income; 4) lastly, its growth factors include the possible injection of the properties currently held by Frasers Centrepoint and TCC Group.
- wong chee tat :)
Frasers Hospitality Trust (FHT)
"After FHT has been admitted to the Main Board of the SGX-ST, FH-REIT will make distributions
to Stapled Securityholders on a semi-annual basis, with the amount calculated as at 31 March,
and 30 September each year for the six-month period ending on each of the said dates. FH-REIT’s
first distribution after the Listing Date will be for the period from the Listing Date to 31 March 2015
and will be paid by the REIT Manager on or before 29 June 2015. Subsequent distributions will
take place on a semi-annual basis as well. Under the FH-REIT Trust Deed, the REIT Manager is
required to pay distributions within 90 days after the end of each distribution period."
From Prospectus
- wong chee tat :)
to Stapled Securityholders on a semi-annual basis, with the amount calculated as at 31 March,
and 30 September each year for the six-month period ending on each of the said dates. FH-REIT’s
first distribution after the Listing Date will be for the period from the Listing Date to 31 March 2015
and will be paid by the REIT Manager on or before 29 June 2015. Subsequent distributions will
take place on a semi-annual basis as well. Under the FH-REIT Trust Deed, the REIT Manager is
required to pay distributions within 90 days after the end of each distribution period."
From Prospectus
- wong chee tat :)
Friday, July 4, 2014
1-Net launches new centre to meet growing data needs
1-Net launches new centre to meet growing data needs
The new data centre, located at Marsiling, will be Singapore’s first Tier III data centre.
SINGAPORE: 1-Net Singapore is launching a new centre to meet growing demand for data hosting and other data-management services, to be ready by the last quarter of 2015.
The new data centre, 1-Net North, will be Singapore’s first Tier III data centre certified by the Uptime Institute, a research organisation and consultancy focused on improving data-centre performance and efficiency.
A Tier III data centre allows for any planned maintenance activity to take place without disrupting operations of hardware located in the centre.
“We’ve seen a shift in the way consumers consume their information over the last few years, and businesses have also responded by changing the way they engage customers. With the opening of this new 1-Net Data Centre, 1-Net aims to become Asia’s data centre of choice,” said Mr Wong Ka Vin, Managing Director of 1-Net.
The company noted that in South-east Asia alone, the online video audience grew about 8 per cent in the past year. South-east Asia also ranks higher than the global average when it comes to consumption of music, movies and entertainment.
1-Net is a MediaCorp enterprise. It currently manages telco-class carrier-neutral Internet data centres, and provides domestic and international connectivity among other services.
The new centre will be more than 200,000 sq ft and will be located at Marsiling. The total investment in the project is expected to be about S$130 million.
1-Net will also be investing an additional S$70 million to fit out the data centre with the technology required to attain the Tier III certification.
To receive this certification, the entire data centre is required to undergo significant testing for uninterrupted operation during maintenance activities.
-TODAY/cy
- wong chee tat :)
The new data centre, located at Marsiling, will be Singapore’s first Tier III data centre.
SINGAPORE: 1-Net Singapore is launching a new centre to meet growing demand for data hosting and other data-management services, to be ready by the last quarter of 2015.
The new data centre, 1-Net North, will be Singapore’s first Tier III data centre certified by the Uptime Institute, a research organisation and consultancy focused on improving data-centre performance and efficiency.
A Tier III data centre allows for any planned maintenance activity to take place without disrupting operations of hardware located in the centre.
“We’ve seen a shift in the way consumers consume their information over the last few years, and businesses have also responded by changing the way they engage customers. With the opening of this new 1-Net Data Centre, 1-Net aims to become Asia’s data centre of choice,” said Mr Wong Ka Vin, Managing Director of 1-Net.
The company noted that in South-east Asia alone, the online video audience grew about 8 per cent in the past year. South-east Asia also ranks higher than the global average when it comes to consumption of music, movies and entertainment.
1-Net is a MediaCorp enterprise. It currently manages telco-class carrier-neutral Internet data centres, and provides domestic and international connectivity among other services.
The new centre will be more than 200,000 sq ft and will be located at Marsiling. The total investment in the project is expected to be about S$130 million.
1-Net will also be investing an additional S$70 million to fit out the data centre with the technology required to attain the Tier III certification.
To receive this certification, the entire data centre is required to undergo significant testing for uninterrupted operation during maintenance activities.
-TODAY/cy
- wong chee tat :)
Monday, June 30, 2014
Electricity tariffs to fall by 0.2% in Q3, 2014
Electricity tariffs to fall by 0.2% in Q3, 2014
The fall translates to a S$0.20 decrease in the average monthly electricity bill for families living in four-room HDB flats, SP Services says.
SINGAPORE: Electricity tariffs will drop by an average of 0.05 cent per kWh or 0.2 per cent for the period July 1 to Sept 30, Singapore Power subsidiary SP Services said on Monday (June 30).
For households, the electricity tariff will decrease from 25.73 to 25.68 cents per kWh. This translates to a S$0.20 decrease in the average monthly electricity bill for families living in four-room Housing and Development Board (HDB) flats, SP Services said.
SP Services reviews electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA). The latest tariffs have been approved by the EMA.
- CNA/cy
- wong chee tat :)
The fall translates to a S$0.20 decrease in the average monthly electricity bill for families living in four-room HDB flats, SP Services says.
SINGAPORE: Electricity tariffs will drop by an average of 0.05 cent per kWh or 0.2 per cent for the period July 1 to Sept 30, Singapore Power subsidiary SP Services said on Monday (June 30).
For households, the electricity tariff will decrease from 25.73 to 25.68 cents per kWh. This translates to a S$0.20 decrease in the average monthly electricity bill for families living in four-room Housing and Development Board (HDB) flats, SP Services said.
SP Services reviews electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA). The latest tariffs have been approved by the EMA.
- CNA/cy
- wong chee tat :)
Tariff Rates (1 Jul 14 to 30 Sep 2014)
Tariff Rates > The electricity tariff for households is 25.68 cents per kWh (with effect from 1 Jul 14 to 30 Sep 14)  > The gas tariff for households is 21.08 cents per kWh (with effect from 1 May 14 to 31 Jul 14) > The water tariff for households is $1.17 per cubic metre (below 40m3) and $1.40 per cubic metre (above 40m3) Electricity tariffs are regulated by the Energy Market Authority (EMA) and revised quarterly to reflect the actual cost of electricity. SP Services buys electricity on behalf of customers and pays the gencos, transmission licensee and other market players based on the rates of the various cost components as approved by EMA. There are four main cost components in the electricity tariff. They are:-  |
- wong chee tat :)
Frasers Hospitality share placement 21 times subscribed
Frasers Hospitality share placement 21 times subscribed
Strong demand from institutional investors for Frasers Hospitality Trust's initial public offering.
SINGAPORE: Frasers Hospitality Trust on Monday (June 30) provided more details about its S$367.9 million initial public offering (IPO), saying the offer has seen strong demand from institutional investors.
The hotels and serviced residences real estate investment trust (REIT) said its international placement of 139.6 million stapled securities at S$0.88 apiece attracted interests valued around S$2.5 billion - which translates to a subscription rate of around 21 times.
A group of cornerstone investors, including DBS and Fortress Capital Asset Management, had subscribed for another 232.9 million stapled securities, also priced at S$0.88 each.
The public portion of its IPO, aimed at ordinary retail investors, will comprise 45.5 million stapled securities priced at S$0.88 apiece.
The public offer opens at 9am on Tuesday and closes at 12pm on July 10, Frasers Hospitality said. The stapled securities will begin trading on the Singapore Exchange on July 14.
Frasers Hospitality - which is sponsored by Singapore property giant Frasers Centrepoint Ltd - will have an initial portfolio of six hotels and six serviced residences valued around S$1.7 billion.
The six hotels, which came from Frasers Centrepoint's Thai parent TCC Group, are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
The six serviced residences are Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow and Fraser Suites Edinburgh.
Frasers Hospitality also has first right of refusal to buy another 18 properties from its parent companies.
The REIT offers investors an indicative yield of 7 per cent for the full financial year from 1 October 2014 to 30 September 2015.
Frasers Centrepoint and TCC Hospitality, an associate of TCC Group, will together hold around 65 percent of Frasers Hospitality after the IPO.
- CNA/ly
- wong chee tat :)
Strong demand from institutional investors for Frasers Hospitality Trust's initial public offering.
SINGAPORE: Frasers Hospitality Trust on Monday (June 30) provided more details about its S$367.9 million initial public offering (IPO), saying the offer has seen strong demand from institutional investors.
The hotels and serviced residences real estate investment trust (REIT) said its international placement of 139.6 million stapled securities at S$0.88 apiece attracted interests valued around S$2.5 billion - which translates to a subscription rate of around 21 times.
A group of cornerstone investors, including DBS and Fortress Capital Asset Management, had subscribed for another 232.9 million stapled securities, also priced at S$0.88 each.
The public portion of its IPO, aimed at ordinary retail investors, will comprise 45.5 million stapled securities priced at S$0.88 apiece.
The public offer opens at 9am on Tuesday and closes at 12pm on July 10, Frasers Hospitality said. The stapled securities will begin trading on the Singapore Exchange on July 14.
Frasers Hospitality - which is sponsored by Singapore property giant Frasers Centrepoint Ltd - will have an initial portfolio of six hotels and six serviced residences valued around S$1.7 billion.
The six hotels, which came from Frasers Centrepoint's Thai parent TCC Group, are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
The six serviced residences are Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow and Fraser Suites Edinburgh.
Frasers Hospitality also has first right of refusal to buy another 18 properties from its parent companies.
The REIT offers investors an indicative yield of 7 per cent for the full financial year from 1 October 2014 to 30 September 2015.
Frasers Centrepoint and TCC Hospitality, an associate of TCC Group, will together hold around 65 percent of Frasers Hospitality after the IPO.
- CNA/ly
- wong chee tat :)
Monday, June 23, 2014
Frasers Hospitality to launch IPO at 88 cents per unit
Frasers Hospitality to launch IPO at 88 cents per unit
The IPO pricing would give investors an indicative yield of 7 per cent per annum, according to Frasers Hospitality Trust.
SINGAPORE: Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum.
According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its upcoming IPO.
A further 232.9 million stapled securities will be issued to cornerstone investors, such as DBS and Fortress Capital Asset Management, at the same price.
Frasers Hospitality - which has a portfolio of 12 properties including the InterContinental Singapore and Westin Kuala Lumpur hotels - will start trading on the Singapore Exchange on July 14. Its market capitalisation will be around S$1.04 billion based on the IPO price, according to the prospectus.
Frasers Hospitality is managed by Frasers Centrepoint, the former property arm of Singapore's Fraser and Neave. Its initial portfolio comprises six serviced residences from Frasers Centrepoint - Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh.
The other six properties are from Frasers Centrepoint's Thai parent TCC Group. They are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
- CNA/kk
- wong chee tat :)
The IPO pricing would give investors an indicative yield of 7 per cent per annum, according to Frasers Hospitality Trust.
SINGAPORE: Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum.
According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its upcoming IPO.
A further 232.9 million stapled securities will be issued to cornerstone investors, such as DBS and Fortress Capital Asset Management, at the same price.
Frasers Hospitality - which has a portfolio of 12 properties including the InterContinental Singapore and Westin Kuala Lumpur hotels - will start trading on the Singapore Exchange on July 14. Its market capitalisation will be around S$1.04 billion based on the IPO price, according to the prospectus.
Frasers Hospitality is managed by Frasers Centrepoint, the former property arm of Singapore's Fraser and Neave. Its initial portfolio comprises six serviced residences from Frasers Centrepoint - Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh.
The other six properties are from Frasers Centrepoint's Thai parent TCC Group. They are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
- CNA/kk
- wong chee tat :)
Tuesday, June 17, 2014
MAS unveils new measures to promote offshore RMB
MAS unveils new measures to promote offshore RMB
The Monetary Authority of Singapore will provide an overnight RMB liquidity facility to financial institutions from July 1. The move will facilitate growth of the offshore RMB offshore market in Singapore.
SINGAPORE: The Monetary Authority of Singapore (MAS) will introduce a facility to provide up to 5 billion renminbi (RMB) in overnight liquidity to financial institutions in Singapore as part of measures to boost the city-state's fast-growing offshore RMB market.
The overnight facility -- which will be launched on July 1 -- will give financial institutions the assurance that their short-term RMB funding needs will be met, MAS said in a statement on Friday.
The new facility will complement an existing facility that allows banks to borrow the Chinese currency on a term basis for trade, direct investment and market stability purposes.
MAS' announcement coincided with an directive issued by the People's Bank of China (PBC) Nanjing branch that said eligible corporates and individuals in the Suzhou Industrial Park (SIP) will be allowed to conduct cross-border RMB transactions with Singapore.
This means banks in Singapore will be allowed to lend RMB to corporates in the Suzhou park. Firms there can issue RMB-denominated bonds in Singapore, while equity investment funds in the SIP can directly invest in Singapore-based corporates.
"The introduction of cross-border RMB channels between Singapore and SIP will facilitate greater financing for companies operating in the SIP, encourage direct investment in corporates in Singapore and broaden the range of RMB activities that can be conducted out of Singapore," said MAS Deputy Managing Director Jacqueline Loh.
"We look forward to similar arrangements being put in place in the near future to allow cross-border RMB transactions between Singapore and Tianjin Eco-City," she added.
Singapore is the second largest offshore clearing centre for transactions involving the RMB, which is being used increasingly for trade and investments as China liberalises the use of its currency.
- CNA/ly
- wong chee tat :)
The Monetary Authority of Singapore will provide an overnight RMB liquidity facility to financial institutions from July 1. The move will facilitate growth of the offshore RMB offshore market in Singapore.
SINGAPORE: The Monetary Authority of Singapore (MAS) will introduce a facility to provide up to 5 billion renminbi (RMB) in overnight liquidity to financial institutions in Singapore as part of measures to boost the city-state's fast-growing offshore RMB market.
The overnight facility -- which will be launched on July 1 -- will give financial institutions the assurance that their short-term RMB funding needs will be met, MAS said in a statement on Friday.
The new facility will complement an existing facility that allows banks to borrow the Chinese currency on a term basis for trade, direct investment and market stability purposes.
MAS' announcement coincided with an directive issued by the People's Bank of China (PBC) Nanjing branch that said eligible corporates and individuals in the Suzhou Industrial Park (SIP) will be allowed to conduct cross-border RMB transactions with Singapore.
This means banks in Singapore will be allowed to lend RMB to corporates in the Suzhou park. Firms there can issue RMB-denominated bonds in Singapore, while equity investment funds in the SIP can directly invest in Singapore-based corporates.
"The introduction of cross-border RMB channels between Singapore and SIP will facilitate greater financing for companies operating in the SIP, encourage direct investment in corporates in Singapore and broaden the range of RMB activities that can be conducted out of Singapore," said MAS Deputy Managing Director Jacqueline Loh.
"We look forward to similar arrangements being put in place in the near future to allow cross-border RMB transactions between Singapore and Tianjin Eco-City," she added.
Singapore is the second largest offshore clearing centre for transactions involving the RMB, which is being used increasingly for trade and investments as China liberalises the use of its currency.
- CNA/ly
- wong chee tat :)
Tuesday, June 3, 2014
Thoughts
Can't sleep well at night these few days. It could be the hot night.
Lots of random thoughts running in my mind. Stuff such as:
- combating increasing expenses
- budgeting and planning for new gadgets (new laptop replacing the old one, new router, etc)
- others
Oh no! I need my beauty sleep!!!
- wong chee tat :)
Lots of random thoughts running in my mind. Stuff such as:
- combating increasing expenses
- budgeting and planning for new gadgets (new laptop replacing the old one, new router, etc)
- others
Oh no! I need my beauty sleep!!!
- wong chee tat :)
Thursday, May 29, 2014
HDB Issues Fixed Rate Notes
ShareDate issued : 28 May 2014
The Housing & Development Board ("HDB") has issued S$675 million, 5-year Fixed Rate Notes (the “Notes”) under its S$22 billion Multicurrency Medium Term Note ("MTN") Programme.
2The Notes have a coupon of 2.223% per annum payable semi-annually in arrear. The Notes were issued on 28 May 2014 and will mature on 28 May 2019.
3The 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.
4The Joint Lead Managers are DBS Bank Ltd., DMG &; Partners Securities Pte Ltd, The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited.
5Under 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.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables more than nine out of ten of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, 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 :)
Thursday, May 22, 2014
May 2014 BTO Prices
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- wong chee tat :)
Thursday, May 15, 2014
Integrated Development In Woodlands, "Kampung Admiralty", Takes Off With Groundbreaking Ceremony
Integrated Development In Woodlands, "Kampung Admiralty", Takes Off With Groundbreaking Ceremony
- wong chee tat :)
Date issued : 26 Apr 2014
Minister for National Development, Mr Khaw Boon Wan officiated the groundbreaking ceremony for the new Integrated Development in Woodlands today. This marks the start of the realisation of a one-stop hub that encourages social interaction and active living through its innovative design, communal spaces and sustainable features. Located next to Admiralty MRT station, the development – Kampung Admiralty (海军部村庄) – is envisaged to foster greater community bonding and reignite the kampung spirit of yesteryear.
2Kampung Admiralty is a multi-agency project, developed by HDB in partnership with the Ministry of Health (MOH), Alexandra Health System (AHS), National Environment Agency (NEA), National Parks Board (NParks), Land Transport Authority (LTA), Ministry of Social and Family Development (MSF), and Early Childhood Development Agency (ECDA).
Exciting Features & Facilities to Promote Cohesive & Sustainable Living
3Residents in Woodlands and Kampung Admiralty will benefit immensely from the host of exciting new features in this development. The community will be able to access dining and retail outlets, as well as social and healthcare facilities, under one roof. Wide community spaces and generous green features will also be incorporated to enhance the living environment.
(i) Meeting the community’s needs in an urbanised setting with innovative, community-friendly and green design
Three-tier co-location of amenities
4Occupying a tight 9,000 sqm plot of land, this development demonstrates a new sensibility to modern, urban living with its innovative land use strategy and the vertical integration of uses. It will be zoned into three tiers to seamlessly integrate the various facilities and cater to the diverse needs of residents effectively.
· Ground tier: Retail Shops, Community Plaza
· Mid tier: Hawker Centre, two-level Admiralty Medical Centre
· Top tier: Studio Apartments, Eldercare & childcare facilities, Community Park
Cross sectional perspective of Kampung Admiralty
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5The two blocks of Studio Apartments (SAs) comprising about 100 units are designed to be elderly-friendly. As part of HDB’s effort to ensure that the elderly have a safe and comfortable living environment, new features such as a retractable indoor and outdoor clothes drying system, an induction stove and resilient flooring, will be introduced.
6HDB will launch these SAs for sale in the July 2014 Build-to-Order exercise. Seniors with married children living in or near Woodlands, or those living in the vicinity who wish to right-size to a smaller flat, will have priority in applying for a unit under HDB’s Studio Apartment Priority Scheme.
Perspective of the Studio Apartments
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Lush Greenery
7Lush greenery will be interspersed throughout the development. To relive fond memories of the site as a farming and forested area, kampung fruit trees like the Limau Purut1 and a variety of other plant species will be planted to create an environment conducive for biodiversity, provide visual relief for residents, and act as a buffer to reduce both the urban heat effect and noise. Sheltered decks and landscaped terraces will also optimise cross ventilation.
(ii) Providing the community with ample communal spaces
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Perspectives of the Community Plaza (left) and Community Park (right)
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Community Plaza
8Located at the ground level, the Community Plaza promises to be a bustling platform for the community to bond over activities and programmes. HDB will actively engage the local community groups and residents to determine the theme of the plaza, and their preferred activities, nearer to its completion. This will inculcate a sense of ownership, and ensure that the space remains vibrant and well utilised.
Kampung Village in the Sky: Community Park, Community Farm & Herb Garden
9A Community Park has been purposefully designed to evoke the kampung spirit. Besides providing shade, residents can exercise and cultivate neighbourly relations through participating in community activities. The Community Park will have a three-generational playground that is located in front of the eldercare and child care centres to nurture inter-generational bonding between the young and old.
10Residents can also look forward to planting edible, medicinal and biodiversity-attracting plants in the Community Farm and Herb Garden, under NParks’ Community In Bloom Programme.
(iii) Promoting Eco Living
11To enable residents to enjoy clean, green and sustainable living, Kampung Admiralty will boast several green eco-features such as:
i) Underground bicycle storage system that offers residents convenient and secure parking solutions;
ii) Pneumatic Waste Conveyance System, an automated waste collection system which uses a vacuum type underground pipe network to
collect household waste for disposal;
iii) Bioswales which treat surface runoff water and prevent water from overflowing during storms while greening and beautifying the
landscape; and
iv) Solar panels to harness solar energy for powering common services in the two SA blocks
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Going Forward
12Mr Yap Chin Beng, Deputy Chief Executive Officer (Estates) of HDB, said, “Concerted effort has been taken to create a quality and comfortable living environment. When completed, residents of Woodlands and Kampung Admiralty will be able to enjoy the convenience of having a good mix of facilities, amenities and services at their doorstep. Like the development’s name, we hope that residents will take active ownership of the various community spaces to interact with their neighbours, recreate the cohesive Kampung spirit, and forge a strong sense of identity and belonging. After all, it is this community spirit that injects vibrancy, and forms the heart and soul of our public housing estates.”
13Mr Liak Teng Lit, Group Chief Executive Officer of Alexandra Health System, said, “The Admiralty Medical Centre will provide services to the community in two ways; those who are mobile can visit the medical centre for treatment. For those who are elderly and frail or home-bound, our healthcare staff will be able to use the medical centre as a base to reach out to them. The proximity of care will be beneficial to the residents. By integrating the centre into the community, we will also be able to actively involve residents and educate them on healthy living through good lifestyle habits, and raise awareness of their health status.”
14Kampung Admiralty is expected to be completed in 2017, with construction works scheduled to commence later this year.
1 Kaffir Lime Tree
- wong chee tat :)
Sunday, May 11, 2014
Joint Press Release by HDB & URA - Government to release two sites with estimated yield of about 1,300 units in April 2014
Joint Press Release by HDB & URA - Government to release two sites with estimated yield of about 1,300 units in April 2014
Date issued : 30 Apr 2014
To provide developers and home buyers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing & Development Board will be releasing a commercial and residential site, and a residential site respectively for sale in April 2014 under the 1st Half 2014 (1H2014) Government Land Sales (GLS) Programme. Together, these two sites can yield about 1,300 residential units.
2 The commercial and residential site at Meyappa Chettiar Road is launched for sale under the Confirmed List, while the Executive Condominium site at Sembawang Road will be made available on the Reserve List today.
Other Details
3 The tender for the site at Meyappa Chettiar Road will close at 12 noon on 19 August 2014. Selection of the successful tenderer will be based on the tendered land price only.
4 Details on the land parcels can be found in Annex 1 (PDF 87KB) and the location plans are in Annex 2. (PDF 430KB) More information on the sites is available on the respective URA and HDB websites:
Meyappa Chettiar Road
(http://www.ura.gov.sg/uol/land-sales-repository/Sites/meyappa-chettiar-cl.aspx)
Sembawang Road
(http://www.hdb.gov.sg/fi10/fi10330p.nsf/w/LandDevMangSembRdCanLink?OpenDocument)
5Developer's packets containing details and conditions of tender of the land parcel at Meyappa Chettiar Road are available at:
URA Land Sales
Customer Service Centre
1st storey, The URA Centre
45 Maxwell Road
Singapore 069118
Date issued : 30 Apr 2014
To provide developers and home buyers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing & Development Board will be releasing a commercial and residential site, and a residential site respectively for sale in April 2014 under the 1st Half 2014 (1H2014) Government Land Sales (GLS) Programme. Together, these two sites can yield about 1,300 residential units.
2 The commercial and residential site at Meyappa Chettiar Road is launched for sale under the Confirmed List, while the Executive Condominium site at Sembawang Road will be made available on the Reserve List today.
Other Details
3 The tender for the site at Meyappa Chettiar Road will close at 12 noon on 19 August 2014. Selection of the successful tenderer will be based on the tendered land price only.
4 Details on the land parcels can be found in Annex 1 (PDF 87KB) and the location plans are in Annex 2. (PDF 430KB) More information on the sites is available on the respective URA and HDB websites:
Meyappa Chettiar Road
(http://www.ura.gov.sg/uol/land-sales-repository/Sites/meyappa-chettiar-cl.aspx)
Sembawang Road
(http://www.hdb.gov.sg/fi10/fi10330p.nsf/w/LandDevMangSembRdCanLink?OpenDocument)
5Developer's packets containing details and conditions of tender of the land parcel at Meyappa Chettiar Road are available at:
URA Land Sales
Customer Service Centre
1st storey, The URA Centre
45 Maxwell Road
Singapore 069118
- wong chee tat :)
Thursday, April 10, 2014
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