Daily Archives: August 28, 2019 (24 Articles Found)

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ISOTeam swings back into the black in 4Q19 on higher sales

ISOTeam, the building maintenance and housing estate upgrading company, posted 4Q19 ended June earnings of $2.9 million, reversing from a loss of $1.86 million a year ago in 4Q18. FY19 revenue increased 63% to $136.6 million from $83.8…

Beaufort on Nassim up for collective sale at $222.68 mil

The owners of Beaufort on Nassim have launched their property for collective sale at an asking price of $222.68 million ($3,508 psf ppr). Completed in 2008, the four-storey development occupies an estimated 45,344 sqft site, with a wide…

Wing Tai chairman: Outlook for Singapore residential market still subdued despite pick-up in sales

While the latest real estate statistics show a higher turnover of new residential units compared to the same period a year ago, Wing Tai Holdings chairman Cheng Wai Keung is not upbeat. Speaking at the company’s FY2019 corporate…

Avenue South Residence to preview on Aug 30 with prices from $858,000

Avenue South Residence by UOL Group will open for public preview this Fri. The official launch is set to be on the following week, on Sept 7. At the launch, 300 units will be released for sale. Developed…

ERA closes 42% of July new home sales, explores franchising deals in Asia Pacific

ERA agents closed about 499 new private residential sales in the month of July, which translates to about 42% of the developers’ total of 1,178 new homes sales that month, says Jack Chua, CEO of ERA. “The demand…

Curbing ‘lottery effect’ of million-dollar HDB flats easier said than done

In 2016, I applied to buy a new five-room flat at Boon Tiong Road in Tiong Bahru under HDB’s SBF Exercise. There were a handful available at slightly over S$700,000, which I thought was reasonable given their large…

Government, businesses lead the way but all must contribute to environmental sustainability: Masagos

MEWR Minister Masagos Zulkifli says Singapore must work together to help mitigate climate change, even as the country explores solutions to adapt to “a new normal”. “Even as we discuss what the government and businesses can do to…

Slowing tourist arrivals for now but new attractions, limited rooms to benefit hospitality REITs ultimately

In 1Q19 ended Mar, Singapore saw intl visitor arrivals grow 1% to 4.7 million visitors while tourism receipts fell 4.8% y-o-y to $6.5 billion, according to data from the Singapore Tourism Board. Meanwhile, gazetted hotel room revenue grew…

Drone users welcome advisory panel’s proposals

A compulsory registration regime that makes drones traceable and requires a minimum registration age of 16 would improve safety, drone users said. But they suggested capping registration fees at a lower level. The users said that recommendations from…

Install canopies to protect against killer litter

High-rise littering is prevalent in Singapore, and we need concrete measures to protect the lives of innocent pedestrians (Stronger measures needed to stop high-rise littering, by Mr Jeffrey Law Lee Beng, Aug 23). A man died earlier this…

No need to rake up painful WWII memories during Bicentennial

As much as Dr Peter Ling would like to highlight the role played by and the presence of the Japanese in Singapore before World War II (Japanese present in S’pore long before WWII, Aug 24), I also presume…

History objectively reflected in festivities

Dr Daniel Emlyn-Jones listed positive and negative contributions which British colonial rule has provided to Singapore, before proceeding to question the proper credit given to Britain (Don’t forget role of colonial Britain in shaping Singapore, Aug 24). The…

More critical view of Britain’s colonial project needed

Dr Daniel Emelyn-Jones seems to believe that colonial misbehaviour and violence can be excused carte blanche by the “white man’s burden” (Don’t forget role of colonial Britain in shaping Singapore, Aug 24). The fact that so many of…

Singapore mortgages may resist global rates downtrend – for now

Interest rates are falling across the world – with some markets already mired in negative rates – but the flow through to Singapore mortgage rates may be mitigated by local factors. “Most mortgage rates in Singapore are pegged…

Are Hong Kong investors buying Singapore properties or not?

Some people are scratching their heads on whether Hong Kong investors are flocking to Singapore property, or whether they’re going for cheaper alternatives. Just yesterday, there C&W reported that Singapore is the top choice for Hong Kong real…

Island-wide vacancy rate in retail dipped to 7.7% in Q2

This chart from Savills shows island-wide vacancy rate in retail dipped to 7.7% in Q2 from its highest level at 8.7% in Q1. This was blamed on increase in retail space demand seen in Funan and parts of…

Jewel Changi is home to a new toy cafe with bubble tea drinks by Woobbee

Newly opened last month at Jewel Changi Airport, AC Kafe is a collaborative concept between bubble tea makers Woobbee and homegrown toy retailer ActionCity. Just like you’d imagine, the space is decorated with colourful designer toys of all…

High time for a green new deal for Singapore

Singapore’s PM Lee recently explained in the country’s National Day Rally speech how the country will fight climate change, which he agreed was “one of the gravest challenges facing humankind”. The PM’s policy speech of the year starkly…

ECO Special Waste Management fined for ‘unsafe work practices’ that caused Tuas plant fire

ECO Special Waste Mgmt (ECO SWM) was fined S$230,000 on Aug 20 for “unsafe work practices” that led to a fire at its Tuas hazardous waste treatment facility in 2017. MOM said the company failed to “take reasonably…

New Decathlon outlet to be anchor tenant at The Centrepoint

Sporting goods retailer Decathlon will open a new store at The Centrepoint next year, the mall’s owner announced on Tues. Frasers Property Singapore said Decathlon will be the new anchor tenant of the Orchard Road shopping centre. The…

Tiong Seng bags $130.5m contract to develop Club Street hotel

Tiong Seng Holdings has been awarded by Midtown Development Pte Ltd with a $130.5 million contract to develop a hotel at Club St. In an SGX filing, the construction firm revealed that the 20-storey hotel will feature restaurants…

Tender for single operator of Bugis Village, Bugis Street now open

SLA, Singapore Tourism Board and URA have launched the tender for a single operator to take on the integrated mgmt of Bugis Village and Bugis Street. The price and quality tender require the single operator “to propose compelling…

Iconic Katong eatery Glory Catering closing on Saturday

He was 16 when he started working in his family’s restaurant, making and serving tea. Nearly six decades later, Mr Chin Der Ann, 73, the second-generation owner of Glory Catering, is set to call time on the restaurant.…

Hong Kong investors shun Singapore for homes in Malaysia, Taiwan

Singapore’s housing market isn’t turning out to be the beneficiary many may have thought from Hong Kong’s increasingly fraught protests. Instead, investors are looking to cheaper property markets like Malaysia, Thailand and Taiwan. “People here tend to think…

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