Daily Archives: April 7, 2016 (30 Articles Found)

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New hub for metals, machinery and timber to be sited in Kranji

A new Metals, Machinery and Timber (MMT) hub will be developed for SMEs in the metals, machinery and timber industries, said Koh Poh Koon, Minister of State for Trade and Industry in Parliament on Thurs. The hub which…

Singapore-Malaysia Causeway has sufficient capacity, will not be replaced: MFA

The Causeway linking Malaysia and Singapore has sufficient capacity and will not be replaced, MFA Minister Vivian Balakrishnan said. Dr Balakrishnan said both governments have conducted a joint study and done their own projections to reach that conclusion.…

Technical error on Battlestar Galactica ride ‘did not affect safety’

The technical error that occurred on the Battlestar Galactica: Human vs Cylon rollercoaster at USS on Wed did not affect safety, so the ride resumed operating after the control system was reset, said BCA on Thurs. In response…

Fire breaks out at Punggol field

A field at Punggol caught fire on Thurs afternoon. SCDF said it was alerted to a case of vegetation fire in the open field, measuring 30m by 30m, beside Blk 256 Sumang Walk at about 1.15pm. There was…

Corridor fire in Eunos extinguished by members of public

Using buckets of water, several members of the public helped put out a fire outside a seventh floor HDB flat in Eunos Crescent on Thurs morning. According to SCDF, the fire involved discarded items outside the flat. No…

Licence plates would instil caution in cyclists

Currently, we are having problems sharing footpaths, which is reflected in a number of accidents involving negligent cyclists and users of motorised scooters. It is a good idea to put licence plates on bicycles and motorised scooters so…

Tangs goes for exclusivity as it refashions business

The new CEO of Tangs has plans to navigate the department store through the choppy retail scene. Mr Kevin Dyson, who was appointed to helm the store from Apr 1, plans to step up the game online as…

30 customers, residents evacuated after fire breaks out in Jurong West St 81 coffee shop

A blaze involving the contents of a coffee shop in Jurong West on Thurs morning led to the evacuation of around 30 customers and residents. SCDF said it was alerted to the fire in a coffee shop below…

Barbs are out for fishy practices of some anglers

There are fishermen’s tales with an ugly twist and many are surfacing after a wild otter pup was spotted last Sat at the Kallang River with a fish hook near its eye. The otter is the latest victim…

Take steps to make roads safer for motorcyclists

I agree with Mr Kunjan Vasudevan’s assertion that motorcycles and cars are complementary, especially when most cars on the road are only driver-occupied (“Motorcycles can play role in push to be car-lite”; Mar 7). Our road system can…

77th Street founder turns to logistics amid retail shake-up

The entrepreneur who founded streetwear brand 77th Street is gunning to be “a big logistics player” with her latest venture. Ms Elim Chew said she started her FastFast app last year to give retirees, people who had been…

New Look, Celio to exit S’pore market

Two fashion brands will bow out of the challenging retail scene here before the year is out. Eight stores in various malls showcasing the British brand New Look and French menswear chain Celio will close in the second…

CB2 to close outlet in Singapore

Three years after its Singapore debut, CB2, the sister store of American furniture and homeware brand Crate & Barrel is closing shop for now. Its management is looking for a new shop space in a mall, which is…

Difficult retail conditions show in Q1 rental dip: DTZ

Retail rentals fell islandwide in the first quarter on weak demand, data from DTZ SEA released on Tues showed, coalescing with news of retailers consolidating and vacancies on the climb. According to the consultancy, average monthly first-storey rents…

Singapore CBD office rentals decline for third straight quarter

Office rents in Singapore’s CBD fell by 3.9 per cent in the first quarter of this year from the previous quarter, their third straight quarterly decline as concerns over a global economic slowdown dampened demand for office space.…

HDB resale prices dip 0.1% in Mar; volumes up 37.6%: SRX flash estimate

Prices of HDB resale flats dipped slightly in Mar 2016 over the preceding month. However, volumes climbed 37.6 per cent, based on the latest data from SRX Property released on Thurs. Its overall price index for HDB resale…

JTC awards 3 industrial sites at Tampines and Tuas South Link 2

JTC has awarded its tenders for three industrial sites at Tampines Industrial Drive and Tuas South Link 2 to the highest bidders. The 4,112.5 sqm site at Tampines Industrial Drive (Plot 7) was awarded to Chye Thiam Maintenance…

SISV rejects computer-generated valuations

Disruptive technology may be shaking up the property valuations space, but the incumbents have sounded a note of caution to the use of computer-generated valuations. SISV on Wed stated categorically that it does not recognise these valuations. “Such…

Should industrial property investors go for leasehold or freehold?

Conditions back in 2011 could not have been better for developers of industrial space. The fever took hold as investors piled into the non-residential property sector after many rounds of government cooling measures imposed on the residential market.…

Self-storage industrial space poised to expand

With changing lifestyles and the burgeoning e-commerce trade, demand for self-storage industrial spaces is set to progress to a new growth phase within and beyond Singapore. Amid the slowing economy, fall in imports and the tougher operating environment…

Stable demand for prime retail space in tough climate

Singapore’s retail scene showed signs of increasing strains over the past year under the pressure of a manpower crunch and the influx of new retail spaces island-wide. 2015 saw a mixed bag of results in terms of occupancy…

2016 to be another mixed year for Asia-Pacific hotels

For hotels across APAC, 2015 was a mixed year as performance remained strongly correlated with business and consumer confidence, both locally and internationally. Economic uncertainty, currency depreciation and political agendas continued to weigh on consumer confidence throughout the…

New lease standards add burden to tenants, landlords

After nearly five years of deliberation, the Intl Accounting Standards Board (IASB) issued the revised leasing standard IFRS 16 in Jan 2016. IFRS 16 will replace the current IAS 17 for companies with annual reporting periods beginning on…

Tech companies – the future drivers of office space demand

Singapore’s Smart Nation journey is just beginning and will spur strong demand to improve existing and build new infrastructure and technical architecture. Coupled with government initiatives, the Smart Nation will continue to attract more technology companies to be…

Opportunities in the office market

Last year, the benign economy weighed on office leasing demand. Much of the leasing activity was by existing tenant movements due to upgrading or rent advantage rather than expansionary purposes. The lack of demand from financial institutions remained…

Cluster housing market faces short-term headwinds

The cluster housing market is in a sluggish state. The performances of new launches have been lacklustre, with substantial numbers of unsold inventory in many projects. Performance has been non-homogenous, with certain projects seeing more demand than others.…

Risks, bright spots in mass-market residential sector

An expected 21,906 private residential units are slated for completion islandwide in 2016, with more than half of them (11,507 units) located in OCR, where the bulk of units in the so-called mass market segment can be found.…

How low can EC prices go?

Since the government raised the income ceiling for eligible HDB flat buyers and EC home buyers in Aug 2015, the expected surge in buying demand for ECs did not materialise. One reason is that the cooling measures and…

My HDB home: buy, hold or sell?

Statistics from HDB are increasingly pointing to a stabilising resale market. For the whole of 2015, prices dipped marginally by 1.6 per cent, compared to the 4.6 per cent fall in 2014. In addition, the past three quarters…

No turnaround on the horizon for Singapore prime property prices

Though prime property inched up during the quarter, analysts don’t think it’s the beginning or a turnaround for the market. According to a report by Jefferies Singapore, prices in the central region edged up 0.4% QoQ, marking the…

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