Daily Archives: March 2, 2020 (22 Articles Found)

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UOL net profit up 14% to $478.8m in 2019

UOL Group saw its net profit for the full year ended 31 Dec 2019 increase 14% to $478.8 million from $418.3 million in 2018. The company attributed the hike to higher attributable fair value and other gains of…

Low interest rates and high foreign capital bright spots in property capital markets: CBRE

Despite the sizeable and prominent assets such as DUO, Mapletree Business City II and 30 Raffles Place transacted in 2019, investment volume for 2019 has been the lowest since 2017, according to CBRE’s report “Real Estate Market Outlook…

Office demand shrinking but Grade-A office rents will hold steady in 2020: CBRE

Weaker GDP growth projected for Singapore is expected to weigh on office demand, according to CBRE’s research report, “Real Estate Market Outlook 2020 – Singapore”. For the office sector, islandwide office net absorption has dropped to 1.08 million…

Retail sector hit by lower tourist arrivals but domestic spending remains resilient: CBRE

For the retail sector, CBRE’s report “Real Estate Market Outlook 2020” predicts continued decline in tourist spending as a result of Covid-19 travel restrictions. The loss of Chinese tourists in the first half of 2020 will especially impact…

Singapore’s residential sector will be a buyer’s market in 2020: CBRE

Overall, CBRE expects Singapore’s property market to remain resilient despite macroeconomic headwinds. This is highlighted in CBRE’s report “Real Estate Market Outlook 2020. In 2019, there was a record number of 52 launches. New sales dominated the private…

8 great reasons (that aren’t food!) to visit Tiong Bahru over and over again

1) History and heritage – Tiong Bahru rich historical value should not be overlooked. Did you know you can find Singapore pioneer and philanthropist Tan Tock Seng’s grave near Seng Poh Road and Outram Road? 2) Art –…

‘Grave consequences’ if Johor can’t fulfil water supply agreement: Vivian Balakrishnan

During his ministry’s COS debate, Dr Balakrishnan spoke about the latest developments on the supply of treated water across the Causeway. Malaysia has built two major water treatment plants upstream from PUB’s Johor River waterworks and the amount…

Man allegedly duped 3 building contractors into believing the cladding he sold was fire-safety certified

A man whose company was linked to a building in Toh Guan Road that caught fire, killing a woman, allegedly duped three contractors of other buildings into believing that the cladding he sold them was covered by fire-safety…

2 arrested after batteries found missing from telecom equipment rooms at HDB void decks

Police have arrested two men suspected to have stolen batteries from the telecom equipment rooms at HDB void decks. On Mon, the police said they received four reports of batteries found missing from various HDB housing estates in…

SAF on a mission to go green, starting with new hangar that produces more energy than it consumes

SAF is on a push to do its part for the environment, as it unveiled its first net energy positive building – a new eight-storey hangar that uses solar panels and natural ventilation features. The hangar at Changi…

Singtel, Nokia to jointly test 5G network slicing

Singtel and Nokia will jointly develop and trial 5G network slicing, based on a Network as a Service (NaaS) approach that will provide a variety of customisable use cases. Network slicing allows multiple virtual networks to be created…

RAS disappointed in CapitaLand’s lack of support for tenants; CapitaLand says relief package has not been fully comprehended by RAS

RAS yesterday announced its disappointment in landlords’ inertia to deliver on rental rebates. Several landlords in the commercial sector publicly announced various relief packages including rental rebates, to help their tenants. However, many F&B outlets have yet to…

2019 saw far fewer flash flood days

During the rainy season last Dec, Singapore experienced its longest north-east monsoon surge over the past decade, with rain falling consistently for seven days. Yet, the Republic last year also recorded the fewest number of flash flood days…

Lookout tower at Bukit Timah Hill summit would enhance view

Contrary to his letter, I think it is Mr Tan Yi Shu who has missed the point of my earlier letter. I was talking about enhancing the beauty of the view from the summit, and not about the…

Are Singapore’s 99-year leases and falling property prices about to become an election issue?

Last Nov, Yang bought a 1,313 sqft flat in the central region of Singapore for S$880,000. Like the rest of the 1 million or so flats in Singapore’s public housing stock, it is on a 99-year lease, and…

Chip Eng Seng secures $98.7 mil HDB contract for building works in Tampines

Chip Eng Seng, through its wholly-owned subsidiary Chip Eng Seng Contractors, has bagged a contract worth $98.7 million from HDB). The contract relates to building works to be undertaken at Tampines Neighbourhood 8 under Contract 31, the group…

Tee International CFO quits in view of ‘involvement in unauthorised remittances’

TEE Intl has clarified that its group CFO, Yeo Ai Mei, 48, has resigned in view of her “involvement in unauthorised remittances”, the mainboard-listed engg group said in a bourse filing on Sat. The group previously said on…

honestbee clears out furniture from habitat; police called in

Tensions between honestbee and landlord LHN Space Resources have escalated with police called in on Feb 28 after the embattled startup moved its furniture and fixtures out of its concept supermarket habitat at 34 Boon Leat Terrace. BT…

Reit mergers: Is NAV a useful guidepost of value?

Last week, this column delved into the proposed merger of Frasers Logistics & Industrial Trust and Frasers Commercial Trust, and concluded that the transaction will benefit FLT at the expense of FCOT. The key point of contention was…

SUSS to offer Bachelor of Public Safety and Security course

Concerns about disease, data protection, environmental crises and other safety matters have led to the birth of a new university programme. The first of its kind in Singapore, the Bachelor of Public Safety and Security is now open…

89-year-old bakery specialising in traditional Hokkien pastries has lease extended another year

For months, the fate of Tan Hock Seng Cake Shop, an 89-year-old bakery specialising in traditional Hokkien pastries, was in limbo. The shop at Far East Square in Telok Ayer Street was facing closure as its lease was…

Self-checking kiosks to spur people to take temperature regularly

When he visited Toa Payoh MRT station and Bus Interchange on Sun morning to distribute hand sanitisers to public transport workers, Transport Minister Khaw Boon Wan had his temperature taken at two self-checking kiosks. The prototype kiosks, which…

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