Daily Archives: November 27, 2014 (32 Articles Found)

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Owners’ bid to recover legal fees dismissed

Soup Restaurant wins lease lawsuit against Dian Xiao Er

Soup Restaurant has won its lawsuit against Dian Xiao Er over 69 sqm of shop space, part of its outlet at the VivoCity mall that Soup had sublet to its next-door neighbour. In a written judgment yesterday, the…

PM Lee: Every individual in S’pore matters and must be valued

Every individual here matters and must be valued, regardless of who he is or what he was born with or without, PM Lee Hsien Loong said today as he reiterated the Government’s aim of building a fair and…

Survey: Singapore more costly for citizens to live in than Seoul, Hong Kong

The Republic was ranked 56th out of 103 major cities around the world for the cost of living for its citizens, according to the annual study by the Asia Competitiveness Institute at Lee Kuan Yew School of Public…

NEA, Belgian agency ink deal to cooperate on environmental protection

NEA on Thurs signed a MoU with Belgium’s Public Waste Agency of Flanders (OVAM) to cooperate on environment protection and waste and resource management. As part of the agreement, NEA and OVAM agreed to jointly organise the Clean…

Analysts: Rental yield for shoebox units in suburbs comparable to those in the city

Property analysts said the rental yield for shoebox units in the suburbs are comparable to their counterparts in the city. But going forward, they warn that landlords may not get the kind of rental income they expect. This…

UOL Group considering bid for mixed-use site land parcel in Paya Lebar Central

Property firm UOL Group on Thurs said it is assessing whether or not to bid for another land parcel in Paya Lebar Central for a mixed-use project. UOL had recently opened OneKM Mall in the vicinity. The three-storey…

A car-lite Singapore: How to get there?

A new sustainable blueprint to guide Singapore’s development over the next 15 years was launched earlier this month, to create a better home, a better environment and a better future. That better future, however, includes curtailing the dream…

Government land sales site at Upper Serangoon Road draws 11 bids

Asset Legend Limited has clinched the highest tender price of S$276.8 million, or S$848.84 psf ppr for a 99-year leasehold mixed-use site at Upper Serangoon Road. URA announced this on Thurs evening. SL Capital Ventures Pte Ltd put…

MAS: S-Reits in better position now to withstand funding shocks

S-REITS, or Singapore’s reits, are better placed to withstand funding shocks today than during the Global Financial Crisis (GFC) period, MAS said in its annual Financial Stability Review on Thurs. According to the report by the central bank’s…

MAS: Singapore property firms’ balance sheets healthy

The balance sheets of Singapore property firms remain healthy despite the moderation in residential property prices and transactions, MAS said in its annual Financial Stability Review on Thurs. According to the report by the central bank’s Macroeconomic Surveillance…

5 of the coolest workplaces in Singapore

More companies here are putting in the money and effort to spruce up their offices with fun designs and playful elements beyond the typical drab and grey cubicles, in the hope that this will keep staff happy and…

Why no free Net access in all S’pore hotels?

The article (“Free Wi-Fi kiosks to replace NY payphones”; Nov 19) set me thinking about why some Singapore hotels insist that guests pay for their Web use, even though our country has an extensive Internet network. I have…

Conduct more regular checks on migrant workers’ living quarters

I was appalled to read about the horrendous living conditions of a group of foreign workers (“50 workers crammed into two condo units”; Nov 20). It is a blot on our country’s image. No one should be treated…

Purpose-built dorms a boon for all

The authorities should be congratulated for providing decent accommodation and facilities for migrant workers (“A day in the life of Tuas View dorm”; Mon). It is also heartening to know that more such purpose-built dormitories, which will add…

Register and insure motorised bikes

I was almost involved in a traffic accident recently. My car was turning right from Bedok South Ave 1 into Marine Parade Road when a cyclist on a motorised bicycle on my left also made the turn at…

SingPost: Quality checks on mail delivery

We thank Mr Robert Lim for his suggestion (“Improve HDB letter box design”; Nov 19). We assure him that unit numbers are indicated on the interior and exterior letter boxes. To strengthen our service quality, we have introduced…

LTA: Traffic lights at Sime Road junction necessary

We thank Dr Timothy Ng for his feedback (“Remove traffic lights at junction”; Nov 13). From our site assessment, motorists have a clear line of sight of the traffic signals at the junction of Lornie Road and Sime…

Certain commercial outfits may now operate out of industrial buildings

Commercial businesses such as minimarts, banks, clinics and fitness centres can now operate out of certain industrial buildings. This is part of new guidelines, drawn up by URA, MTI and economic agencies. They affect buildings in “outlying industrial…

Smart Nation will be next goal for Singapore

Soon after the separation from Malaysia in 1965, Singapore’s first PM Lee Kuan Yew set a goal for the newly independent state: it will become a metropolis in 10 years. Singapore’s third PM Lee Hsien Loong on Mon…

The Reit market that defied the odds

Seven years ago, a senior banker predicted that the Singapore Reit market had reached saturation as many blue-chip real estate companies had already listed their Reits and Singapore was so small. The Reit market capitalisation then was S$24…

Cluttered homes a source of stress for Singaporeans, survey finds

A cluttered home is a major source of stress for homeowners in Singapore, a survey has found. The survey, conducted by self-storage company Extra Space, found that 88 per cent of people in Singapore are bothered by clutter…

Experts call for more to be done to tackle food waste

Up to one-third of food produced globally for human consumption is lost or wasted. In South Asia and SEA, 414 calories from food produced for human consumption end up uneaten per person each day. But even in the…

Vacancy rate of private homes ‘may hit 10%’

The vacancy rate of private homes in Singapore could be as high as 10 per cent over the next few years due to a surge in the number of completed units and this will pile further pressure on…

Mind the fatigue factor in security

The recent Bishan SMRT Depot breach is naturally a cause for concern. The next time such a breach occurs, it may be more sinister than vandalism. (“Alleged SMRT vandals charged”: Nov 22) We cannot afford that, and SMRT…

Domain Group, PropertyGuru form strategic partnership

Property investors from SEA and Australia are set to benefit as a result of a new partnership between to market-leading property companies. Australia’s Domain Group and SEA’s PropertyGuru Group have signed a strategic agreement that will connect property…

2014 “most dismal year since 2008”

As 2014 nears its end, developers are likely to time the launch of their projects to avoid the year-end lull period. Chia Siew Chuin, Director of Research & Advisory at Colliers Intl, said, “With the window of opportunity…

No small strata office, retail units allowed for Beach Road site

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A minimum 70 per cent office component has been stipulated for the commercial site next to Shaw Tower along Beach Road. Small strata office or retail units will not be allowed in this 99-year leashold site, which has…

Owners’ bid to recover legal fees dismissed

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A group of minority owners who got the $500 million Horizon Towers sale killed in the High Court are not entitled to claim more than $500,000 in unrecovered legal costs as these are “a necessary incidence of litigation”.…

Universal Terminal IPO likely to take form of stapled securities

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Universal Terminal’s impending IPO on SGX could take place before year-end in the form of stapled securities to raise up to S$1 billion. BT understands that the hybrid form of units to be offered by the Singapore-based petroleum…

Battered residential developers forced to slash prices to evade hefty fines

Too many flats, too little time. The race to move unsold inventory is going to heat up in 2015, as the clock is ticking for policy-battered residential developers whose projects are subject to ABSD. Under the ABSD, projects…

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