Resorts World at Sentosa has started work on a new vehicular bridge which costs S$80 million. The new bridge is aimed at easing visitor traffic as over 15 million of them are expected to visit the Resort when it opens in early 2010. The 710-metre, 3-lane bridge will run parallel to the existing causeway which connects Sentosa to the mainland. And when completed in September 2009, both will be...
General
The global market panic driving Tuesday’s United States Federal Reserve rate cut is rooted in the still controversial idea that the US economy has slipped into a recession. Many market participants now take it as an article of faith that the US economy is, or will soon be, in a contractionary phase of economic activity. Some even argue that as long as it “feels” like a recession, it is one. But that...
Research in Singapore has received a boost with the setting up of the Singapore-MIT Alliance for Research and Technology (SMART) Centre. The centre is also the largest international research endeavour by the Massachusetts Institute of Technology (MIT) outside the US. Collaborating with Singapore gives the MIT access to the necessary facilities or information on infectious diseases such as tuberculosis...
Singapore is sticking to its economic growth forecast of 4.5-6.5 per cent for 2008 despite a likely recession in the United States, the city-state's Prime Minister Lee Hsien Loong was quoted as saying by local media.Channel NewsAsia quoted Mr Lee as saying on Wednesday that the government will not review its economic outlook in a 'knee-jerk' reaction to market volatility.He said the Singapore economy had...
Singapore's Minister Mentor Lee Kuan Yew said he is not certain what impact a possible US recession will have on Singapore. Although it is not clear whether financial markets will take up to two years to recover from the ordeal, Mr Lee said he feels that China and India may provide some cushion for the slowdown in the US. Asian stock markets took a beating early this week amid mounting concerns of a...
Singapore's Prime Minister Lee Hsien Loong said Singapore and Asia can weather the storm, should the US go into a recession. He made the comment at a breakfast meeting with 40 businessmen from the French Business Confederation as he wrapped up his three-day official visit to Paris. The financial markets in the West have been hit by the US sub-prime problems, and that in turn has affected Asia, including...
A 1.2-hectare residential site at West Coast Crescent is up for sale by public tender. Property consultants Knight Frank expects the 99-year leasehold parcel to fetch up to S$112 million. This will work out to S$310 per square foot per plot ratio. The site opposite West Coast Park has a maximum permissible gross floor area of 33,600 square metres. There is a height limit of 36 storeys. According to...
Mainboard-listed Ascott Residence Trust has posted better-than-expected full year earnings with distributable income for 2007 came in at S$45.1 million, an 83 per cent jump year-on-year and 12 per cent higher than its own forecast. Key drivers for Ascott Residence Trust's good results were its strong overall operating performance and the acquisition of properties in Ho Chi Minh City, Manila, Melbourne and...
Mapletree Logistics Trust has booked a 78% increase in distributable income for the year ended in December. Dictributable income came in at S$71.8 millions, beating its own forecast. Mapletree said distribution per unit for the whole year amounted to 6.57 cents, up 30% on year. Mapletree's portfolio is branching out to 75 properties across five countries. - CNA /ls Source : Channel NewsAsia - 23 Jan...
People who are bankrupt will not be allowed to enter the future casinos in Singapore. Recipients of Public Assistance or Special Grant are also barred from the casinos. These two groups are excluded under the "Third Party Exclusion" in the Casino Control Act (2006). This means that about 28,000 people are expected to be excluded from the casinos under the "Third Party Exclusion". This was announced by...