A 30-year-old Malaysian worker died in an industrial accident on Pulau Ular, south of Singapore, on Saturday. The accident occurred at the Shell Eastern Petroleum's construction site for a petrochemical cracker which is part of a refinery. Police said they received a call at 11am on Saturday. On arrival, they found the body of the worker from Sarawak on the ground near a boom lift. The worker was...
General
Luxury resorts and spa operator, Banyan Tree, has announced aggressive plans to expand its global operations. The company believes that China-led growth will be a defining feature of global travel over the next few decades. So, it's expanding its operations in the Chinese mainland to 12 locations from the current four. To support the expansion, Banyan Tree said it's planning to launch a new US$400...
Global ratings agency, Fitch Ratings, sees a more challenging operating environment for Singapore banks going forward. According to its latest report, Fitch expects the three local banks – DBS, OCBC and UOB – to see a slowdown in investment banking and capital market-related income over the next two years. Loans growth is seen to be moderating while loan-loss provisions are rising. But Fitch said it...
You may be familiar with the 121-year-old grand dame that is Raffles Hotel, but some surprises are in store at her offshoots in far-flung corners of the world. what you might not know ... • The Raffles Beijing will host the International Olympics Committee come the Games in August. It is, of course, fully booked. • The historic Le Royal Monceau in Paris will be closed for restoration works in June...
Iconic hotel group aims for 30 properties worldwide by 2012 When it was bought over by American owners in 2005, controversy erupted: How could you sell what was a historical icon and quintessentially Singaporean brand name, asked some. Today, the Raffles Hotel brand is spreading like wildfire to some far-flung corners of the world. Indeed, within the first 10 months of its acquisition, the Raffles family...
The new general hospital in Jurong will be located in Jurong East, within walking distance from the Jurong East MRT station and bus interchange, Health Minister Khaw Boon Wan announced after a ministerial walkabout in Geylang Serai on Sunday. The hospital will also be easily accessible via the Ayer Rajah Expressway (AYE) and the Pan-Island Expressway (PIE). Jurong General Hospital, which will serve...
The consumer watchdog wants to reduce the growing number of complaints against property agents and real estate agencies. So it is developing a CaseTrust Accreditation Scheme for the industry. This could be introduced by the middle of 2008. Estate agencies who wish to apply and attain the CaseTrust status will be subjected to a more stringent criteria. The scheme will also raise the requirements for an...
A new Building and Construction Authority (BCA) Gallery was opened on Friday to showcase the past and latest technology used to erect buildings in Singapore. Located at Braddell Road, the gallery's interactive exhibits show what it takes to erect buildings in Singapore since the post-war period. There is also a sensory garden - an outdoor extension of the gallery - which has access for the handicap. The...
Supply of homes, vacancy rates up, but buyers discouraged by high prices THE lacklustre property market seen in the first quarter of this year is likely to persist, with developers expected to launch more projects in the months ahead, increasing the supply of new homes even as buyers stay away. The prices of homes in both the private and public sectors rose at a much slower pace in the first quarter...
IT HAS been his home for about 30 years, one he bought with his late parents. His two daughters attend school close by and they have pleaded with him not to sell the apartment. His is a familiar dilemma for minority dissenters caught up in en bloc deals across Singapore. Some have, like him, fought determinedly to cling to their homes. But in one respect, 52-year-old business consultant Ken Lee has gone...