Singapore developer CapitaLand announced Monday that it will raise S$1.84b through a rights issue. It says eligible shareholders will be entitled to subscribe for one new ordinary share for every two existing ordinary shares held as at the book closure date of 23 February, at S$1.30 per rights share. The company said the rights issue is a strategic initiative that is consistent with its policy of...
2009
NO PLAYGROUNDS or covered walkways in new HDB estates. Nor any barbecue pits. New flats should have very basic floor tiles, meanwhile. It is hardly the usual call from Members of Parliament, who tend to push for upgrading in their constituencies. But two among their ranks are making the call for "no-frills" housing. According to Dr Lim Wee Kiak and Ms Lee Bee Wah, this should be an option for home...
Property prices may have dipped due to the economic recession. But that has not weakened the demand for some private condominiums. Crowds flocked to the showroom of Caspian development near Lakeside MRT station in the Jurong Lake District. Nearly one quarter of the 712-unit development in Jurong West was snapped up within the first two days of its opening. The first 250 units were sold at $540-$640 per...
Frasers Centrepoint brings cheer to market with sale of 80 units at Caspian's preview THE year's first major release of a private housing project has shown that there's still demand for projects priced attractively. Frasers Centrepoint had sold close to 80 units at its Caspian condo near Jurong Lake by late last night, the company's CEO, Lim Ee Seng, told BT. About 70 per cent of buyers are estimated to...
As of December last year, the government spent $3.2 million subsidising energy audits in 121 buildings in Singapore. This resulted in energy savings of close to $30 million a year. At Singapore Post (SingPost), changes to the air conditioning system alone saved the organisation $1.2 million in electricity bills a year. To reduce friction and therefore lower energy consumption, renovations were made so...
A shorter queue for the needy to rent a flat from the government. That's what National Development Minister Mah Bow Tan hopes to achieve when he announced stricter rules for Singaporeans who want to rent a flat at subsidised rates from the Housing and Development Board (HDB). Currently, it takes about two years to rent a HDB flat. But the waiting time may be reduced to one year, with stricter rules for...
The National Development Ministry has announced a slew of measures to ensure Singaporeans have a roof over their heads, especially during these difficult times. Speaking in Parliament on Friday, National Development Minister Mah Bow Tan said the key thrusts are to keep home ownership affordable, help home owners with financial difficulties, increase help for the needy and safeguard rental flats. Madam...
ERA Realty Network is implementing a set of measures to improve transparency and accountability on the part of its agents. The move - the first of its kind in Singapore - comes on the heels of a court decision criticising the behaviour of two ERA agents for breach of duty and fraud. On Thursday, the High Court ordered ERA to pay S$257,000 to a couple who had engaged one of the agents to sell their...
The Housing and Development Board (HDB) is tightening its rental flat eligibility criteria with immediate effect to ensure that these heavily subsidised flats go to the truly needy. HDB rental flats come cheap. With rent rebates and discounts, 85 per cent of tenants pay very low rent, according to the National Development Ministry. Taking into account the increased rebates under the Goods and Services...
Property developer GuocoLand has reported a net loss of S$2 million for the half year ended 31 December 2008. This compared to its net profit of S$60.6 million recorded in the same period last year. The group said there was an unrealised translation loss of S$22.1 million. This was due mainly to the revaluation of US$300 million worth of bank loans, as the greenback appreciated against the Singapore...