Daily Archives: February 27, 2020 (27 Articles Found)

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SPH Reit offers tenants more help to weather Covid-19 outbreak

SPH Reit will be giving its tenants additional help to weather the Covid-19 outbreak, in the form of assistance packages tailored to individual tenants’ circumstances, it said on Thur. The Reit plans to engage its tenants to assess…

Rents in Singapore hit three-year high as expat demand surges

Residential rents in Singapore rose to a three-year high in 2019, with prices boosted by strong overseas demand that signals the city-state’s continuing appeal among expatriates. Rents climbed 1.4% last year, according to OrangeTee & Tie, using data…

Troubles mount for Isetan as FY19 losses double to $27.2 mil on impairment charges

Isetan has reported losses of $27.2 million for FY2019 ended Dec, nearly double its losses of $13.7 million back in FY2018. This was attributable primarily to the group’s impairment losses on right-of-use assets and property, plant and equipment…

HDB loan assessment: 4 main considerations

When applying for an HDB Loan Eligibility (HLE) Letter, HDB conducts loan assessment to determine the loan amount. These factors determine your chances of getting the sweetest “Yes!” from the HDB. 1) Stable Income – This factor is…

Selling your flat soon after MOP: Smart move or dumb move?

Upgrading to a condo is considered a rite of passage for some Singaporeans. But are these Singaporeans making a smart or dumb move, by rushing to sell their flat right after MOP? Mostly, they believe that time spent…

Cleaners, security workers and others on the frontline of Covid-19 should be paid more, says NMP

The frontlines of Singapore’s war against Covid-19 have been manned by people “whose market prices are low but social values immeasurable”, NMP Walter Theseira said, as he urged the Government to intervene and raise wages for such workers.…

MPs concerned with Govt’s plan to ‘put all eggs in the electric vehicle basket’

Hydrogen fuel cell vehicles are not only cleaner but their driving ranges and refuelling times are comparable to petrol cars, so why is the Government placing a significant bet on EVs as part of its efforts to fight…

Ceiling concrete slab falls in toilet of old Toa Payoh flat, narrowly misses domestic worker

A foreign domestic helper in her 20s was just about to clean the toilet of a Toa Payoh flat when a huge chunk of the ceiling broke off and smashed into the toilet bowl. “It was a close…

Coronavirus: Hotels closing floors, shortening service hours, sending staff on leave to cope with lull

Hotels are moving fast to tackle the downturn with one mothballing some floors to save on electricity and manpower while another has told staff to use two-thirds of their annual leave by the end of May due to…

Can Singapore’s arts community build a sense of place amid shifting cultural policies?

Last month, NAC announced that it will launch a third Arts Resource Hub (ARH) co-working space at 42 Waterloo Street for the wider arts community. Centre 42, an arts development organisation which is the sole tenant of the…

PropNex appoints new chief commercial officer

PropNex, has appointed Priveen Raj Naidu as its CCO. This newly-carved-out role at PropNex will see Naidu responsible for commercial strategy and development, to drive business growth and increase market share. Naidu will merge real estate and consumer…

The Porcelain Hotel in Chinatown up for sale at $115 mil

The Porcelain Hotel in Chinatown is up for sale at a guide price of $115 million, or $2,950 psf on GFA. The 138-key, 99-year boutique hotel occupies a land area of 10,143 sqft and an estimated GFA of…

Malaysia’s 99 Speedmart launches in Singapore

Malaysian convenience-store chain 99 Speedmart has opened three mini-market stores in Singapore. According to IGD, the 99 Speedmart stores in Singapore follow the same concept as Malaysia’s stores and range in size from 250 to 500 sqm. They…

Frasers Property Retail reveals tenant support package during virus crisis

Singapore’s Frasers Property Retail has introduced a support package for its tenants to provide some relief from the effect of the current coronavirus outbreak on business. The support package will apply across the group’s portfolio of 14 malls…

Chan Chun Sing repeats call to landlords, banks to pass on budgetary support

MTI Minister Chan Chun Sing on Wed repeated the government’s call to landlords of commercial buildings, and banks to pass on the Budget 2020 support and reliefs to tenants and SMEs. Speaking at a dialogue hosted by AmCham…

Power fault disrupts train service along North-East Line during morning rush hour

Train services on NEL between Buangkok and Punggol MRT stations were disrupted for about six hours on Thurs morning after a broken contact wire disrupted power supply to the trains. SBST’s first tweet on the issue at 5.50am…

Colliers outlines real estate opportunities by referencing trends during SARS outbreak

To assess how Singapore’s real estate markets will be impacted due to the ongoing virus outbreak, Colliers Intl’s new research report references market performance during the SARS outbreak in 2003. That year, Singapore’s economic growth saw a 0.3%…

Propnex posts 349.5% surge in 4Q earnings to $8.2 mil

Propnex this morning announced that its 4Q19 earnings have increased by 349.5% to $8.2 million from just $1.8 million in 4Q18. This increase happened as revenue for the fourth quarter ended Dec 31, 2019, increased by 57.9% to…

CDL’s profit rises 12.5% in 4Q2019 after bumper year of six residential project launches

City Developments (CDL) rounded off 4Q2019 with a strong performance of 12.5% increase in profit to $87.7 million. The group delivered PATMI of $564.6 million in FY2019. Among positive contributions across its core business segments, local residential project…

Inter-agency task force needed for neighbour disputes

The CDRA, which provides recourse for neighbours involved in disputes, was passed in 2015 and a resolution approach crossing multiple agencies was outlined for parties to follow. But much must be done to coordinate these agencies to provide…

Keep beauty of Bukit Timah Hill intact

Climbing Singapore’s highest hill – or any other hill or mountain – has never been about only the destination, but the journey as well. Mr Edwin Pang was missing the point when he lamented in his forum letter…

Don’t forget autonomous vehicles in drive towards sustainable development

The chairman of the Sustainable Infrastructure Committee at SEAS, Dr Sanjay C. Kuttan, raised concerns about the greater adoption of EVs in Singapore in a commentary. Most of the concerns raised assume the traditional model of automotive ownership,…

Offer free parking to draw people to malls

CAG has generously offered 50 per cent rental rebates to shops and eateries at the airport for six months. More commercial reits and building owners should do the same to help retailers weather the impact of the coronavirus…

Making sure hygiene practices observed at public pools

We thank Mr Tan Beng Seow and his friends for observing good pool hygiene practices and also for his feedback advocating stronger adherence to them (Bad hygiene at public pools, Feb 21). It is safe to swim in…

Cooling Singapore’s fixation with air-conditioning in its buildings

On most days, I take a jacket with me, even though the weather app on my iPhone tells me it is 31 deg C outdoors. The extra layer comes in handy almost everywhere I go – the office,…

Do more to encourage switch to e-vehicles, MPs urge

The Government should go further to encourage more drivers to switch to cleaner EVs as it takes steps to address climate change, Mr Yee Chia Hsing (Chua Chu Kang GRC) told Parliament. Mr Yee was among four MPs…

$100m set aside to build simulation facilities on all train lines here

A sum of $100 million over five years has been set aside to build simulation facilities on all train lines in Singapore to improve rail reliability. Such facilities, resembling command centres, let operators simulate anything from a track…

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