Daily Archives: July 31, 2019 (18 Articles Found)

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Nouvel 18 sells 16 units; 90% of the buyers are foreigners

On the weekend of July 20 and 21, City Developments Ltd (CDL) released 30 units at luxury, freehold project, Nouvel 18. To date, 16 units or more than half of the units released have been sold, according to…

Pine Grove relaunched for collective sale with lower price of $1.7 bil

The owners of Pine Grove have relaunched the collective sale tender for the 99-year leasehold development, and have lowered their reserve price to $1.7 billion. The 660-unit former HUDC development, off Ulu Pandan Road and near Clementi Road,…

Automated services at 6 redesigned neighbourhood police posts

Six NPPs which reopen on Thurs as e-NPPs will provide residents with access to automated services. These redesigned e-NPPs at Kampong Glam, Ayer Rajah, Chong Pang, Marine Parade, Tampines East and Choa Chu Kang will reopen their doors…

Will Far East Hospitality Trust’s business pick up after a slow 1H19?

Sentosa Island, playground for Singapore’s rich and famous with its luxury resorts, Michellin-starred restaurants and multi-million-dollar condos, saw the official launch of two new hotels – The Village Hotel and The Outpost Hotel. The development of the hotels…

CDLHT set for 2H rebound on asset reconstitution and acquisitions

CDL Hospitality Trusts (CDLHT) reported a 3.3% dip in DPSS for the 2Q19 ended June. To be sure, CDLHT’s 1H2019 revenue declined 5.8% to $93.8 million from a year ago, mainly led by the closure of Raffles Maldives…

Roxy-Pacific reports 16% drop in 2Q earnings to $4.2 mil on higher costs, lower gains

Roxy-Pacific Holdings recorded 2Q earnings of $4.2 million, down 16% from $5.0 million a year ago. This brought 1H19 earnings down 27% to $9.3 million. Total group revenue rose 39% to $51.4 million. Revenue from the Property Development…

Real estate investment sales up 56% in Q2

Total investment sales rose 56 per cent quarter-on-quarter to $8.2 billion in Q2 2019, mainly driven by the residential and commercial sectors, which altogether accounted for almost 83 per cent of total investment volume. On an annual basis,…

Queensway Shopping Centre units for sale for $21.7m

Three adjoining shop units in the Queensway Shopping Centre have been put up for sale via EOI with a guide price of around $21.7 million, revealed Knight Frank. Located on the third storey, the freehold units have a…

Chinese firm Pensees to collaborate with NUS to develop AI-based camera system

A new AI based camera system is being developed in Singapore. The system could be applied to surveillance cameras, or mounted on AI robots and AVs, said Dr Feng Jiashi, an assistant professor at NUS department of electrical…

Finland’s Neste expands Singapore refinery as it taps renewable growth

Finnish biofuel producer and oil refiner Neste is spending 1.4 billion euros (S$2.14 billion) to more than double output at its Singapore refinery to meet rising global demand for renewable energy. The refinery produces renewable fuels, mainly from…

Replace Newton Circus with traffic junction

I am surprised that the decision to build a U-turn necessitated a parliamentary question and announcement. I cannot see how one U-turn will alleviate the traffic conditions in Newton. If it does, LTA needs to build more U-turns…

New source of accidents demands new slate of solutions

LTA’s decision to mobilise 700,000 MyTransport.SG app users for traffic policing speaks volumes about the safety and desirability of PMDs. With 85,000 PMDs registered in Singapore, the statistics surrounding this comparatively small population make for unpleasant reading. According…

Self-cleaning toilets, technology for waste collectors to be developed under NEA initiative

There may soon be self-cleaning toilet cubicles at hawker centres as part of the push to drive innovation and improve productivity. The project involves retrofitting existing cubicles with features to automatically clean the toilet bowl, walls and floor…

Turn Jurong West Hawker Centre into entrepreneurial test bed for students

I refer to Voices writer Lee Jia Xin’s letter, “Shut Jurong West Hawker Centre and repurpose site” (July 24), which suggested closing the Jurong West Hawker Centre and repurposing the site for other uses. With many childcare centres…

Safe for food shops to place seats beside railings in malls?

With people falling from heights at shopping complexes in recent years, I would like to raise a concern. Is it fine for food establishments to place tables and chairs beside railings? I have seen this done by the…

Changi viaduct collapse: Charges against managing director of construction firm withdrawn

The group MD of a construction firm responsible for the collapse of a section of the Changi PIE viaduct in 2017 was given a discharge not amounting to an acquittal on Wed. Or Toh Wat, 51, was instead…

Singapore’s rich kids end up with penthouses as parents skirt taxes

Not many 24-year-old university students live in a S$1.2 million penthouse, kitted out with a Herman Miller Aeron office chair and Lelit espresso machine. Especially not in Singapore, one of the world’s most expensive property markets. Shawn, whose…

Far East Hospitality NPI slips 2.4% in Q2

Far East H-Trust NPI dropped by 2.4% YoY to $25.1m in Q2 from $25.7m last year. Revenue for the quarter also dropped 2.1% YoY from $28.5m to $27.8m. However, overall NPI for the first half of 2019 grew…

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