Singapore's latest iconic attraction was officially opened by Prime Minister Lee Hsien Loong on Tuesday evening. The launch of the Singapore Flyer was marked by an open-air extravaganza that included performances and fireworks. The laser and pyro displays were choreographed to a music composition which was specially arranged by well-known local composer Iskandar Ismail. The S$240-million Singapore Flyer...
There are signs the property market in Singapore might be making an about-turn following its muted start to the year. Figures released by the Urban Redevelopment Authority (URA) show that the number of private homes sold in March leapt 80 per cent from the month before, signalling improved buyer sentiment. And developers were even more positive. They launched more than 600 units for sale in March - about...
Real estate agents may be accredited under a new scheme, if the Ministry of Finance (MOF) gives the go-ahead. Two industry watchdogs - the Institute of Estate Agents (IEA) and Consumers Association of Singapore (CASE) - are joining hands to start a new accreditation scheme and they plan to submit a proposal to MOF in the middle of the year. They believe compulsory guidelines will help improve the...
Singapore investors have been snapping up the properties within the Iskandar Development Region (IDR) in the Malaysian state of Johor, according to Malaysian property firm UEM Land. UEM said Singapore investors have so far accounted for 95% of the industrial properties sold on the 24,000-acre plot of land in Nusajaya. The developer said the majority of industrial property interest has come from small and...
The government will be calling S$8 billion worth of tenders in its financial year 2008. Of these, about S$5.8 billion will involve building and construction projects which are proceeding as planned. These include projects to improve traffic on the Central Expressway as well as the Gardens by the Bay projects which will keep the Marina Bay area development on schedule. Other projects valued at S$3 billion...
Finance Minister Tharman Shanmugaratnam on Sunday said Singapore has to be on its guard against inflation, or the country's growth could be undermined. Responding to questions about the recent monetary adjustments made by Singapore's central bank, Mr Tharman said the adjustments were not made in response to short-term inflationary pressures. "If you don't continuously focus on the mid-term, we'll also...
More than 6,000 residents in Bukit Panjang will be among the first in Singapore to benefit from the Neighbourhood Renewal Programme (NRP). Announced by Prime Minister Lee Hsien Loong at the National Day Rally last year, it is a new programme that focuses on neighbourhood improvements. Flats that have been built before or in 1989 are eligible for NRP if they have not undergone any kind of main or interim...
Riding it out involves open and frank cooperation AMERICA'S unfolding financial woes continue to surprise. The impact on Asia has been limited thus far, and some think that Asia's rise is irresistible. But connections in finance, trade and investment can still bring the storm to Asia. Indeed, regional bourses and currencies have already felt shocks. After all, Asia's boom has coincided and benefited...
The market and hawker centre at Block 159 Mei Chin Road will be closed for upgrading from May to the second quarter of 2009. This makeover comes under the National Environment Agency's (NEA) Hawker Centres Upgrading Programme (HUP). The S$4 million upgrading programme will make the two-storey market and hawker centre more accessible for the elderly and handicapped. The centre will feature improved...
Jurong Town Corporation (JTC) had won an appeal in a civil suit brought against it by a former sub-contractor and was awarded $8.1 million in damages. But in the latest twist to the four-year legal wrangle between JTC and sub-contractor Wishing Star, JTC will receive only $339,823. The saga began in Nov 2003 when Hong Kong-based Wishing Star cried foul over the way JTC terminated its services after it was...