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...
HDB ensures affordability of flats for different groups Letter from LEONG CHOK KEH Deputy Director (Policy and Property) for Director (Estate Administration and Property) Housing and Development Board I REFER to the letter from Chan Han Jun, “A costly commitment” (Jan 8). The Design, Build and Sell Scheme (DBSS) was launched in 2005 to complement HDB’s sales scheme. The objective was to offer HDB...
Singapore’s inflation might have hit a fresh 25-year high last month as imported food and energy costs soared. A Dow Jones Newswires poll of economists forecast the consumer price index to have risen 4.3 per cent from a year earlier in December, after increasing by 4.2 per cent in the previous month. November’s price rise was the fastest since 1982. Forecasts for the data, due at 1pm today, ranged...
Investors may emerge to pick up bargains following US rate cut INVESTORS across Asia stared in disbelief as stock markets yesterday haemorrhaged for a second day running on fears that a recession in the United States might plunge the world into its worst financial crisis in decades. The fears prompted the US Federal Reserve to slash its federal funds rate target by 0.75 percentage point to 3.5 per cent...
Marina Collection. Sail home to 124 exclusive, spacious and utterly luxurious units perched on Singapore most pristine waterfront address. With access to 40 private berths in the beautiful marina right at your door step, the Sentosa Golf Club in your backyard and an exclusive membership to the distinguished One degree 15 Marina Club, life on the high seas right at your doorstep. Ideally located at the...