Mainboard-listed conglomerate Fraser & Neave (F&N) has reported an 18 per cent drop in its first-quarter net profit to S$89 million. Revenue fell 6 per cent in the three months ending December to S$1.2 billion. This was due to lower property sales in its overseas projects and a drop in revenue from its dairies segment, as consumer sentiment was hit by the melamine scare last year. But F&N's...
2009
CDL offers Valentine's Day discount for Pasir Ris project AT A time when consumers think twice before forking out money for big-ticket items, a major property developer here is dangling outright discounts to lure buyers. And if customers do bite, the move may mark the start of a price war, say industry observers. Yesterday, Mainboard-listed City Developments Limited (CDL) fired the first salvo by...
AS air traffic falls, more than$60 million has been set aside to give retailers at Changi Airport a much needed lift. The Civil Aviation Authority of Singapore (CAAS) will provide a rental relief package - $43 million in rebates and $20 million for a newly set up "Promotions Development Fund" - for retail, F&B and services concessionaires to help them remain viable, Senior Minister of State...
Singapore property prices have been coming down in line with the economic slowdown. But at least one developer is going a step further to attract homebuyers. Yi Kai Development and Fission Group, the developers of the 293-unit condominium Alexis@Alexandra, are offering discounts of 28 per cent to pull in the crowds. And the move appears to be paying off as potential homebuyers flocked to the opening of...
Public transport ridership has been going up - and with it comes more crowding. To ease the situation, the government announced that two rail projects - Jurong East Modification project and the North-South Line extension - are being brought forward, and 22 new trains being bought. Still, with the changes only kicking in by 2011, the squeeze will still be on for a while. Last year, public transport...
A former Strata Titles Board officer has been charged in court on Thursday for two offences of cheating and providing false information. The case revolves around a quote for transcribing services for the board. The court heard that the accused, 25-year-old Hong Shihui and another person, Rajasvarai d/o Radhakrishnan, had prepared a quotation which was sent to the board's Registrar for approval. However,...
More is going to be done to promote cycling in Singapore. The Land Transport Authority (LTA) will spend S$43 million to design and construct dedicated cycling tracks next to pedestrian footpaths in HDB estates. The first phase of this programme will be implemented in Tampines, Yishun, Sembawang, Pasir Ris and Taman Jurong. Foldable bicycles will also be allowed on MRT trains and public buses during...
Singapore Foreign Affairs Minister George Yeo has said the offer by Hong Kong celebrity Jackie Chan to donate some old Chinese houses to Singapore's new university would be a wonderful symbol of the proposed partnership between the upcoming university and a leading Chinese university. The collaboration initiative was agreed to between Chinese Premier Wen Jiabao and Singapore Prime Minister Lee Hsien Loong...
The Civil Aviation Authority of Singapore (CAAS) will extend S$70 million to help airport partners tide over the economic downturn. This is over and above the S$130 million Air Hub Development Fund announced earlier. The CAAS had, in December last year, announced an extension on this fund till end-2009. The money will go towards rental rebates and a Promotions Development Fund for retail, food and...
Bargain-hunting now comes with probability that prices could fall further PRIME properties in key cities such as London and New York have long been out of the price reach of most Singaporeans. However, the slide in prices and currencies caused by the global financial crisis has made such markets much more affordable for those who dare. Particularly attractive to potential Singapore investors are the...