Daily Archives: April 23, 2019 (25 Articles Found)

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Construction firm and directors fined for housing workers in crammed, unsanitary conditions

A construction company and its directors were fined a total of S$257,000 on Tues for housing foreign workers in severely overcrowded conditions, giving false information to the authorities and other violations of the law. Investigations by MOM and…

GuocoLand to redefine office leasing at Guoco Midtown

More companies, finding that they may need to scale up and down following business imperatives, are realising that the traditional long-term lease for their office space may hamper this. Or they may want a long-term lease on the…

Billionaire developer’s son buys $7.2 million Singapore apartment from dad

Billionaire property developer Kwek Leng Beng’s latest luxury condo in Singapore has seen robust demand since its launch last month. It doesn’t hurt that some of his own relatives have rallied to the cause. Kwek’s wife and son,…

Beyond a Founders’ Memorial, build a monument to the people

Today, the 800-year-old pire of Notre-Dame is almost gutted. So much for history, monuments and memories. Cathedrals and cathedral builders have much to teach us. Singapore’s own bicentennial is a good moment to reflect on its own cathedrals…

Singapore’s history holds lessons for future, Maliki Osman tells archaeology conference

Singapore, a renowned ancient port for Asian trade, could have failed numerous times after Sir Stamford Raffles’ arrival. The Dutch could have attacked and wiped out the outpost; pirates could have driven merchants away, and a blight which…

SP Telecom investing ‘hundreds of millions’ in alternative data fibre network in Singapore

SP Telecom is investing “hundreds of millions” of dollars over the next five years to build an alternative to the government-backed Next Generation Nationwide Broadband Network (NGNBN). SP Telecom said on Tues its business-grade fibre broadband network services…

Owners of electric vehicles can pay to use BlueSG chargers from today

Electric car-sharing operator BlueSG will release 99 charging points across 25 locations for public use at 3pm on Tues. The move comes about 18 months after the company started operations here. The number of chargers open to all…

First pair of robot cleaners report for work at National Gallery, Jewel Changi Airport

A pair of similar-looking robots will start work today – scrubbing floors at the National Gallery Singapore and collecting garbage at the newly opened Jewel Changi Airport. Created by local manufacturer LionsBot Intl, these are the first two…

Don’t overlook harms of noise pollution for residents

A report last month on reducing the noise of construction equipment and NEA’s letter (NEA acts on contractors violating noise regulations, and not only when there are complaints, Mar 28) focused on the noise from construction activities, which…

How did PUB conduct tests to ensure water safety?

A recent report said that “Hyflux failed to replace poorly performing membranes in 2017, which affected the quantity and quality of Tuaspring water”. MEWR Minister Masagos Zulkifli said earlier this month that the water supplied to consumers is…

Starbucks Singapore opens its largest store yet

Starbucks Singapore has opened its largest store yet. Operating in Jewel Changi, the two-storey flagship store will serve a mix of quality coffee experiences and localised offerings. Upon entry, visitors are greeted by a layered wooden storefront, inspired…

Kipling Singapore opens two new stores

Kipling Singapore is opening two concept stores this month – one at the new Jewel Changi shopping centre, the other at Ion Orchard. The openings come as the Belgian accessories brand refreshes its logo and shifts direction towards…

Property jargon of the day: Owner-Occupier

An owner-occupier is a person who lives in the property they own. This is often used interchangeably with terms like “home owner” or “home buyer”. The general assumption is that, because owner-occupiers live in the property, they have…

3-room versus 4-room versus 5-room: Which is the better investment?

Yes, yes, we know HDB flats should be homes first and retirement funds second, etc. But let’s be honest: everyone wants to know what the big pay-off could be, besides shelter from the elements. To find some answers,…

Kallang river gets a new lease of life

Singapore’s longest river, Kallang River is set to be revitalised with the introduction of new homes, work places, recreation and community spaces along the waterfront. URA revealed that both public and private housing “will be introduced in precincts…

66% of Singaporeans say properties are ‘value for money’

Despite the perceived high prices, many Singaporeans remain positive of the local property market, findings from the latest PG Consumer Sentiment Survey showed. This comes as 41 percent of respondents said they were satisfied with Singapore’s real estate…

CBD Grade A rents to grow 8% in 2019: report

CBD Grade A rents are expected to further rise by 8% for the full-year 2019 amidst supply shortfall and healthy occupier demand, according to a report by Colliers. Total net demand is also likely to reach 857,000 sqft…

CapitaLand Commercial Trust gets lead in office market recovery with acquisitions

CapitaLand Commercial Trust (CCT) can expect medium-term upsides from its acquisition of Asia Square Tower 2 and the planned redevelopment of Golden Shoe Car Park, according to a report by DBS Equity Research. CCT had a strong start…

Investors to shift focus from home market to commercial sectors in Q2

Commercial property in Singapore is expected to remain highly attractive to investors and developers in Q2 2019, with office rental growth continuing, according to a report by Colliers Intl. Rising visitor numbers combined with tight supply is also…

Tuas mega port to open in phases from 2021

The Tuas Terminal mega port will commence its first phase of operations in 2021 with two berths for ships. This was revealed by MPA which also said that it had reached a construction milestone for the project following…

Frasers Commercial Trust posts flat 2Q DPU of 2.4 cents

The manager of Frasers Commercial Trust (FCOT) has announced a 2Q19 DPU of at 2.40 cents, unchanged from 2Q18. FCOT’s portfolio as at Mar 31, 2019, consists of six properties – China Square Central and Alexandra Technopark in…

Ascott transforms digital ecosystem to support expansion

The Ascott Limited, CapitaLand’s wholly-owned lodging business unit, is embarking on a digital ecosystem transformation to support its expanding global lodging portfolio. As part of its digital transformation, Ascott has launched the Ascott Star Rewards, the world’s first…

Hyflux applies to extend debt moratorium by another three months; slapped with fresh claims of US$65 mil

Hyflux and three of its subsidiaries have applied to the Singapore High Court for its debt moratorium to be extended by another three months. In its filing at 1.35am on Tues, Hyflux says the applications will be heard…

Realty Centre in Tanjong Pagar sold for S$148m, below reserve price

Realty Centre, an office building in Tanjong Pagar, has been sold for $148 million in 2019’s first commercial en bloc sale, although the figure falls short of the reserve price. C&W had put the freehold 12-storey building up…

CapitaLand divests StorHub self-storage business for $185 mil

As part of its asset recycling strategy, CapitaLand is divesting its stake in the group of companies that own and manage the group’s self-storage business StorHub to an unrelated third party. The transaction is based on an agreed…

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