Citylights at Jellicoe Rd For Sale

Citylights at Jellicoe Rd For Sale

3 rooms

#x-04, 1356sqft Asking 1260psf
#2x-02, 1410sqft Asking 1400psf
#3x-01, 1421sqft Asking 1400psf
#40-04, 1356sqft Asking 1800psf

4room

#3x-22, 1894sqft Asking 1500psf

Detail

Road: Jellicoe Rd
Top: 12/2008 expected
Tenure: 99 from 05/01/2004
District: 8
Unit Info:

Kitchen cabinet, oven, wardrobe, aircon.

Total Units: 600 in four 40-storey towers and a row of conservation townhouses.
80, 82 (Townhouses), 84 (Clubhouse), 86, 88, 90 Jellicoe Rd

Townhouses (10 units): sizes varies
1 Room (82 units) 52 to 55 sq.m. (560 to 592 sq.ft.)
1 Room+study (158 units) 63 to 68 sq.m. (678 to 732 sq.ft.)
2 Room (164 units) 81 to 88 sq.m. (872 to 947 sq.ft.)
3 Room (151 units): 122 to 156 sq.m. (1313 to 1679 sq.ft.)
3 Room+study (20 units): 171 to 187 sq.m. (1841 to 2013 sq.ft.)
4 Room (12 units): 171 to 235 sq.m. (1841 to 2530 sq.ft.)
Penthouse (3 units): 334 sq.m. (3595 sq.ft.)

Facilities:

Swimming pool
lap pool
splash pool
BBQ
clubhouse
jacuzzi
garden pavilion
children’s playground
fitness area
waterfall
water cascades
ornamental pond
two tennis courts
basement carpark
security
sky terrace & outdoor gym on 24th floor
children’s playdeck on 23rd floor.

Developer: Woodsvale Land Pte Ltd, CapitaLand

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

VARSITY PARK at West Coast For Sale

VARSITY PARK at West Coast For Sale

3 room + ensuite. 1346sqft
Blk 62, face pool

Asking 850psf

District: 5

Top: 03/2008 expected
Tenure: 99 from 03/05
Developer: Clementi Complex Pte Ltd (Capitaland Ltd)
Unit Info:

Ground floor units have private enclosed space for small garden. Fifth floor units with attics and garden terraces.

Total Units: 530
Site Area: 52,680 sq.m. (567,000 sq.ft.)
2, 3, 4 Rooms:
Facilities:

Swimming Pool
Wadding Pool
‘Beach’ Lagoon
Stream
Picnic Lawn
Barbeque
Gymnasium
Exercise Station
Fitness Area
Taichi Corner
Tennis Court
Playground
Putting Green
Treehouse
Clubhouse
Sauna
Karaoke Room
Function Room
Reading Room

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Mackenzie 138 2 Room For Sale

Mackenzie 138 2 Room For Sale

2 room plus utility. 797sqft
Face Pool Tenanted 2.2k till Oct 08
A stone throw away from MRT

Asking only 1380psf

Detail

Location: 138 MacKenzie Road
Type of Development: Apartment
Tenure: Freehold
District: 09
Year of Completion: 2006
No. of units: 35
Developer: Macly Capital Pte Ltd
Units sizes:
Studio: 38 - 45 sq m
1+ study: 56 - 58 sq m
2 bedrooms: 71 - 79 sq m

Mackenzie 138 is a low-density unit comprising of 35 elite apartments situated at the hush-hush residential district of Mackenzie Road. Mackenzie 138’s chief address gives easy entr�e island wide through the Central Expressway as well as East Coast Parkway. It is about 20 minutes travel away from the Airport. The Dhoby Ghaut MRT station is only few minutes away. As Mackenzie 138 is near from the Plaza Singapura, Park Mall, Paradise Center, facilities such as supermarkets, food centers and shop are located near by. Apart from that, there are also hubs and small restaurants at Prinsep Street within short distance. It is also close to Tekka Mall. This development is within close walking distance to the Singapore Management University.

Services at Mackenzie 138

Swimming pool
Jacuzzi
Gym
BBQ
Basement car park
24 hours security
MRT Stations

Little India MRT Station (NE7)
60 Bukit Timah Road Singapore 229900
How Far? 0.26 km

Dhoby Ghaut MRT Station (NE6-NS24-CL(U/C))
11 Orchard Road Singapore 238826
How Far? 0.91 km

Farrer ParkMRT Station (NE8)
250 Race Course Road Singapore 218703
How Far? 1.02 km

Somerset MRT Station (NS23)
1 Somerset Road Singapore 238162
How Far? 1.14 km

Shopping Malls

Zhujiao Centre (Tekka Market)
665 Buffalo Road Singapore 210665
How Far? 0.36 km

Little India Arcade
48 Serangoon Road Singapore 217959
How Far? 0.52 km

Peace Centre
1 Sophia Road Singapore 228149
How Far? 0.67 km

Spotlight
68 Orchard Road Singapore 238839
How Far? 0.72 km

Plaza Singapura
68 Orchard Road Singapore 238839
How Far? 0.72 km

Nearby Schools

Christ Church Kindergarten
1 Dorset Road Singapore 219486
How Far? 0.58 km

Newton Kindergarten
3 Halifax Road Singapore 229258
How Far? 0.66 km

Prinsep Street Presbyterian Church Kindergarten
77 Prinsep Street Singapore 188649
How Far? 0.69 km

Life Kindergarten
142 Prinsep Street Singapore 188656
How Far? 0.74 km

SAINT MARGARET’S PRIMARY SCHOOL
99 Wilkie Road Singapore 228091
How Far? 0.69 km

STAMFORD PRIMARY SCHOOL
1 Victoria Lane Singapore 198423
How Far? 1.24 km

MONK’S HILL SECONDARY SCHOOL
12 Winstedt Road Singapore 227978
How Far? 1.40 km

NANYANG ACADEMY OF FINE ARTS (NAFA)
38 Bencoolen Street Singapore 189654
How Far? 2.85 km

SINGAPORE INSTITUTE OF COMMERCE (SIC MAIN CAMPUS)
250 Middle Road Singapore 188983
How Far? 2.89 km

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

How Singapore companies can manage forex risks

How Singapore companies can manage forex risks
(SINGAPORE) Foreign exchange (FX) risks are a fact of life for Singapore companies going overseas, Francis Heng, chief financial officer of Singapore Telecommunications, said last month.
His comment to reporters during SingTel’s second-quarter results came amid reports of FX losses by a few Singapore companies totalling several hundred million dollars.

Given that many Singapore companies have developed offshore wings and are seeing their US-dollar receipts shrink by the day, while their non-US-dollar-denominated bills get more expensive, we asked bankers for solutions.

Citi’s Foo Check Woei: We can provide plain vanilla FX forward hedges for corporate clients to lock in their exchange rates now for future delivery. For more sophisticated clients we recommend FX option strategies ranging from vanilla put and calls to more exotic structures.

HSBC’s John McGowan: Companies can manage FX risk by hedging exposures individually or on a portfolio basis. Also, a company should endeavour to hedge on a ‘net’ basis after taking into account all foreign currency assets and liabilities - for example, if a company has both US-dollar receivables and payables, identifying and hedging the total net exposure is a good first step in risk management.

Companies can use a combination of forwards and options to offset and manage their FX risk.

A forward contract is one of the more commonly used strategies to manage currency risk and is used most often for trade flows and capital imports, particularly when a company has certain cashflows and would prefer to lock in exchange rates.

BT: When companies here bid for an overseas tender in US dollars, but won’t know the result of the tender until three months later, and it’s a job that stretches three years, what is the most cost-effective way to protect profits?

HSBC: Such contingent exposure can be managed through compound options. A compound option is an option on an option - that is, an option with another option underlying it. In such a derivative structure there would be two strike prices, two premiums and two exercise dates. A compound option is often structured as a tailor-made solution.

In the example given, a compound option would give a company an additional element of risk management by providing the opportunity to limit downside losses associated with obligations that are contingent in nature.

The first premium on the option will usually be paid upfront, which companies can account for as part of the bid costs. The second premium will be paid only if the first option is exercised, and in this instance, if the company wins the tender. If the company’s bid was unsuccessful, it just incurs only the first premium. If it was successful, the second premium will be paid, enabling it to hedge its cashflows through the life of the project.

Citi: I assume that you know the exact amount you require when the tender is awarded. Some of our clients use options to try to hedge an unknown tender outcome (zero cost collar structures, rate locks etc). Once the tender results are known and they are successful, they would usually use LTFX (Long Term FX - works exactly like a forward FX contract but is longer than one year in tenor) for exchange rates and IRC/CCIRS structures (Interest Rate Swaps, Cross Currency Interest Rate Swaps) to lock in interest rate costs.

BT: With deposit rates at very low levels, what can Singapore companies with excess cash do to earn better returns without risking too much?

HSBC: The management and investment of surplus cash is often viewed as an interim measure before the cash is put back into the business. In this instance, companies can opt for short-dated, principal protected structures, as they would have access to their funds quickly and not have the principal sum at risk.

These products can also be structured in multiple currencies, for companies who work with more than one currency.
Source : Business Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Transformed Mt Faber eyes MICE business - Singapore

Transformed Mt Faber eyes MICE business - Singapore

It hopes to double capacity before Sentosa facilities come onstream
By LYNETTE KHOO

AFTER a major revamp in 2004 that saw Mount Faber transforming from a cable car station to Singapore’s second most visited paid tourist attraction, Mount Faber is now eyeing the meetings, incentives, conventions and exhibitions (MICE) business.

Jewel in the crown: The ‘four seasons’ campaign changes the design and colours of the facade at Jewel Box every quarter, offering a different experience each time
Before the MICE facilities in the integrated resort at Sentosa are up and running, Mount Faber hopes to double its own MICE capacity. Its facilities can currently hold 1,200 persons at any one time.

‘We have been working with the relevant authorities for land space,’ Mount Faber Leisure Group CEO Susan Teh told BT. ‘We are still in talks to see how we can expand.’

The existing MICE facilities are already fully utilised during peak season and 80 per cent booked during off-peak period, she said.

From a low base, revenue from the MICE segment has grown by a staggering 290 per cent since Ms Teh took office in 2004, and has become a significant growth driver for the group.
‘You can’t find another attraction in a hill environment. The Jewel Box itself has already started to benefit from the brand.’

- Mount Faber Leisure Group CEO Susan Teh

Ms Teh now hopes to position Mount Faber as a ‘total solutions’ for MICE events, given the unique offering of conference venue amid the lush flora and fauna, attractions, food and beverage (F&B), business centre service and coach transport that enables visitors to arrive in style.

Some major institutions and corporations that have already tapped Mount Faber’s MICE facilities include the International Monetary Fund, Citibank Singapore, UBS and Singapore Telecommunications.

Confident that Mount Faber offers a unique hilltop experience not seen in other parts of Singapore, Ms Teh reckoned that the MICE facilities at Resorts World at Sentosa would be complementary rather than competitive.

‘As the government is targeting 17 million (visitors by 2015), there will definitely be spillovers and everyone can have a piece of the pie,’ Ms Teh said.

With companies increasingly looking for unique places to hold corporate functions, Mount Faber now has an event management team that helps to plan corporate events such as dinner and dance parties and product launches.

Since Mount Faber’s revamp in 2004 that saw the group embark on a strategy of diversification, significant improvements have been seen not just in its facade, but also translating to headline numbers.

Its profit has doubled from 2004 while its revenue has tripled over the same period. The revenue mix has shifted from predominantly cable car receipts to an even contribution from F&B, MICE, cable car rides, attractions and wholesaling.

Mount Faber now serves a broad target group by providing casual to formal dining, family attractions to venues for corporate events, and has seen a mingling of tourists and locals.

The revamped Mount Faber also saw an increase in visitor arrivals from 1.2 million in 2004 to 1.8 million year-to-date.

‘We are targeting two million visitors, an all-time high, and we are on track by the end of this year,’ Ms Teh said.

The icon of the revamped Mount Faber - Jewel Box - which houses its MICE facilities and F&B outlets, sits on the hilltop which was previously only used for the cable car station.

Other selling points of Mount Faber stem from its ‘four seasons’ campaign, which changes the design and colours of the facade at Jewel Box every quarter, including touch points like menu and cocktails, offering a different experience each time.

‘You can’t find another attraction in a hill environment. The Jewel Box itself has already started to benefit from the brand and this is what we will leverage on going forward,’ she added.

Ahead of the opening of the Sentosa IR, other non-MICE facilities at Mount Faber will also get a facelift to cater to the sophisticated and discerning visitors that the IR is expected to attract.

This would include upgrading the F&B area which comprises Altivo, Glass Bar, Faber Rock and Faber Hill Bistro, and increasing retail outlets, Ms Teh said.

‘We are working with the relevant authorities to improve the accessibility here,’ she added.

Without letting on whether a tram line is in the pipeline, Ms Teh said that the authorities will look at improving accessibility in the southern precinct in general and can be expected to talk to various stakeholders to achieve this.
Source : Business Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore Properties sales set for big drop in Q4

Singapore Properties sales set for big drop in Q4

Early numbers show Q4 private property deals at $2.9b, nowhere near Q3’s $15.6b
By ARTHUR SIM
(SINGAPORE) Weakening market sentiment could have a bigger impact on property sales if early numbers for the Q4 2007 transactions are anything to go by.

In a preliminary analysis of caveats lodged by DTZ Debenham Tie Leung (DTZ), the value of all private property transactions for Q4 to date is about $2.9 billion.

This figure does not represent the full fourth quarter. There is also a time lag between a transaction and the lodgement of a caveat. Still, doubling or even tripling this figure will not bring it close to Q3’s figure of $15.6 billion and Q2’s record breaking figure of $24.2 billion.

DTZ executive director Ong Choon Fah also pointed out that apart from the continuing effects of the US sub-prime crisis, the property market was also jolted by the withdrawal of the deferred payment scheme in October. ‘It made people understand that there were risks involved,’ she added.

Signs of poorer market conditions were already apparent in the third quarter. In DTZ’s analysis for Q3, transactions for all private homes fell 36 per cent to 8,416 units. But this was attributed to seasonal market activity marked by the Hungry Ghost Month, as well as the reduced number of developer launches.

Mrs Ong believes that fewer launches in Q4 could be the culprit if sales do fall.

According to its report, the number of developer sales in Q3 reflected a 41 per cent quarter-on-quarter (q-o-q) drop to just 1,956 transactions with developers apparently monitoring the market for possible sub-prime impact.

Now, well into the fourth quarter, new launches still appear to be on hold. Mrs Ong believes that there are ‘genuine buyers’ in the market but developers could nevertheless be choosing to take their time to decide on pricing, or, launch developments in phases to test the market.

But she said that there is no evidence that developers or sellers are prepared to accept lower prices. ‘Prices are still inching up even though the activity level has dropped,’ she added.

Mrs Ong said that the recent strong performance of the private residential market has allowed many developers to accumulate financial reserves and most are not in need of immediate revenue. ‘Developers don’t feel the need to launch immediately. They can still launch next year, while some may even be considering waiting until the opening of the integrated resorts creates more buzz,’ she added.

The number of transactions in Q3 was bolstered by the high number of deals in the secondary market which saw 6,434 homes change hands. This represents a q-o-q drop of 34 per cent, but the decrease is of a lesser magnitude compared with that of developer sales.

And although collective sales slowed in Q3, DTZ says apartments in the secondary market in the prime districts continued to perform, largely due to price increases.

The number of secondary market apartments sold in Q3 fell 33 per cent q-o-q to about 5,300 units with foreigners accounting for 1,590 or 30 per cent of these transactions. DTZ noted that this was among the highest since 1995. The strength of the secondary market was partly due to the buoyant leasing market which also encouraged foreigners to buy homes ready for immediate occupancy.

Bucking the downward trend of all category of buyers were corporate or institutional buyers.

In Q3, transactions attributed to companies actually rose by 11 per cent with 958 homes changing hands. DTZ said this was the largest number of units purchased in a quarter.

Apart from the reported acquisition of a block at Costa Del Sol by the Ong Beng Seng family, DTZ highlighted the sale of 49 out of 58 units in Duchess Crest, registered as company transactions. DTZ executive director (residential) Margaret Thean added that unlike the bulk sale at Costa Del Sol, the Duchess Crest transactions were not done by a single company either.

She added: ‘This reflects that foreign investors and property funds still have confidence in the Singapore market.’ Ms Thean also said: ‘With the sub-prime crisis in the US, some of these funds may also be increasingly looking outside the US to invest.’
Source : Business Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore market set for continued rally

Singapore  market set for continued rally

Defensive shares, blue chips may rise in hopes of further cut in Fed rate

By Alvin Foo

THE recent market euphoria fuelled by rising hopes of another United States interest rate cut this month could continue this week, further aiding the Singapore bourse’s recovery.
As was the case last month, market players have been buying in anticipation of US Federal Reserve intervention to prevent the American economy from slipping into a recession.

The improved sentiment gave the Straits Times Index (STI) an end-of-the-month bounce last week. It finished 195.38 points, or 5.87 per cent, higher at 3,521.27 for the week.

Market experts warn, however, that thin volumes are a lingering worry, an indicator that most investors are still adopting a cautious stance.

Average daily volume was 1.74 billion shares worth $2.26 billion, a slight dip from the 1.79 billion shares valued at $2.06 billion the previous week.

There are several signals that point to a possible continuation of last week’s upward momentum.

STAYING UPBEAT

Investors are buying in anticipation of Fed intervention to prevent a recession. Thin volumes are, however, still a cause for concern.

Last week saw an upbeat mood returning to Wall Street, as a horrid November drew to a close. Wall Street finished higher after Friday’s session, ending 59.99 points up at 13,371.72.

This puts the market in good stead for a year-end flourish, as December is traditionally one of the best months of the year.

Analysts tip Hong Kong’s Hang Seng Index - the market that Singapore has been most closely mirroring of late - to test the 29,000-point mark, as it surged 7.92 per cent to 28,643.61 last week.

Back home, bank counters - a key driver of the STI - should keep up their recovery.

A recent Citigroup report saw ‘Singapore and Hong Kong banks as beneficiaries of the Fed easing’, and said local banks should ‘benefit from falling local short-term rates by cutting funding costs and holding on to mortgage yields’.

Analysts also tip defensive stocks and blue chips to find increasing favour among local investors who are becoming more risk-averse due to higher volatility.

The main economic data this week will be Friday’s report on American non-farm payroll job creation and unemployment.

Analysts say the information may frame discussions at the Fed meeting on Dec 11, and a rate cut could set the stage for a significant year-end rebound.

Will Asian equities see a Santa Claus rally this year?

Said Henderson Global Investors director of economics and asset allocation Tony Dolphin: ‘I think they will. The markets are very oversold. They’ve recovered a little. I think they can go further.’

Source : Straits Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Few Singapore landed collective sales done even in boom times

Few Singapore landed collective sales done even in boom times

Experts say the selling process for houses is trickier than for condos

By Joyce Teo & Kua Zhen Yang

COLLECTIVE sales were all the rage for a large part of this year - but few were for landed homes.
They are not the easiest of deals to close, but DTZ Debenham Tie Leung managed it two weeks ago when it brokered the sale of 15 houses in the Balestier area for $61 million, a record price for the area.

The houses lined both sides of a road, which was also proposed as part of the sale. The entire area will give a sizeable combined site of 32,978 sq ft.

But such large tracts with a high redevelopment potential are hard to come by, say property consultants.

Also, for landed homes to go en bloc, every owner must agree to the sale. This is unlike strata-titled condominiums, where a collective sale requires the consent of up to only 90 per cent of the owners.

Getting 100 per cent approval for landed homes, as consultants will tell you, is not easy.

‘The risk is there because you need to have contiguous support,’ said Savills Singapore’s director of investment, Mr Steven Ming. ‘You may work on a row of houses only to find that one or two houses in the middle refuse to sell.’

Another dampener is that many landed sites come with a development potential of only 1.4 times their size. This means that they cannot be redeveloped into large properties, limiting a developer’s potential profit.

Even if a large development is allowed, the developer would likely need to pay a large fee to the Government in order to proceed.

‘This takes out some of the gains for the owners,’ said an industry observer, ‘and, thus, it is often not worthwhile for consultants to work on the sale.’ Hence, some of these sales are done by individuals or small-time developers, he said.

Mr Michael French, the managing director of Asia Premier Property Consultants, says it is sometimes easier to sell landed homes en bloc because there are simply fewer owners to deal with than in a condo.

But some owners just refuse to sell. Homemaker S. Tan, who lives in a semi-detached house in Telok Kurau, says she has been approached by agents asking her and her three neighbours to sell collectively.

She is not keen, unless all her neighbours agree. ‘We like this place… It is convenient for my children.’

Replacement cost is also an issue. ‘Even if they pay a bit higher, we can’t buy another house with the same location and size,’ she added.

In Prome Road is an example of what happens when not everyone agrees to sell. A row of houses has been sold en bloc, but a few others will be left standing.

An 80-year-old retired teacher who lives in a three-storey terrace house with her family is staying put.

She did not participate in the August collective sale of a stretch of old, single-storey houses in the street because she did not think the apportionment of proceeds was fair. ‘I paid a lot of money to build this house. It’s much bigger inside, so we should get more money than the rest,’ she said.

When confronted with owners such as these, developers tend to build around or next to these houses. That can leave a single house standing, incongruously, next to a five-storey development.

Source : Straits Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Little India hotel opens after $25m overhaul - Singapore

Little India hotel opens after $25m overhaul - Singapore

By Kua Zhen Yang
NEW LOOK: The new lounge at Parkroyal Hotel on Kitchener Road is one of the facilities that the hotel now boasts after its makeover. It has also created exclusive rooms with extra features for business executives.

THE refurbished Parkroyal Hotel on Kitchener Road made its debut last Wednesday, following a year-long, $25 million facelift.
Formerly known as New Park Hotel, the 21-storey building saw all its 532 rooms and suites undergo a dramatic makeover.

‘This extensive makeover puts us in the deluxe category of hotels, upgrading us from a three-star property to a magnificent hotel of four-star standard,’ said Mr Felix Yeo, the general manager of the hotel, which he dubbed the ‘Grand Hyatt of Little India’.

The hotel, a stone’s throw away from the heart of Little India, has also shifted its positioning. It now targets corporate travellers instead of holidaymakers.

For example, Indian clients used to make up about 40 per cent of its guests; of these, most were leisure travellers. After the rebranding, the proportion has dropped to about 27 per cent, and most of these clients are now corporate travellers.

Numerous efforts have been taken to boost the hotel’s image and elevate its positioning. Aside from the contemporary decor, it has an exclusive Orchid Club aimed at business executives.

The top three floors of the hotel are reserved for such members. Orchid Club rooms - which cost almost 50 per cent more than standard rooms - are plusher and come with extra facilities like wireless broadband Internet.

This extensive overhaul does not come cheap for travellers.

Standard room rates have approximately doubled, compared with the rates two years ago.

The Parkroyal chain of hotels is owned by United Overseas Land’s mainboard-listed hotel arm, Hotel Plaza. It has another Parkroyal hotel at Beach Road, which underwent a $8.1 million refurbishment that was completed at the end of last year.

Source : Straits Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985
mindy@mindyyong.com

http://www.hotvictory.com

Cost of living on their minds, but help’s coming - Singapore

Cost of living on their minds, but help’s coming - Singapore

Minister pledges more money for grassroots welfare programmes

By Jeremy Au Yong

IN ANOTHER sign of its increasing prominence, the rising cost of living dominated a dialogue yesterday between Simei residents and Minister for Community Development, Youth and Sports Vivian Balakrishnan.
From the first person to stand up - who asked how the Government would help the lower income deal with rising costs - questions on inflation came thick and fast.

By the end of the 11/2 hour session, nine of the 16 questions and comments were on the issue.

A resident told of self-employed drivers who had difficulty maintaining their livelihoods, and of young couples who could not afford flats.

A second wanted the goods and services tax on essential items removed; a third wanted a minimum wage scheme, while a fourth asked if the public transportation concession for senior citizens could be extended to include peak hours.

Dr Balakrishnan responded to the questions with this guarantee: ‘No Singaporean will go hungry, no matter what happens with inflation.’

‘No Singaporean will go hungry, no matter what happens with inflation.’ - Community Development, Youth and Sports Minister Vivian Balakrishnan
Inflation hit a 16-year record of 3.6 per cent in October, according to official figures, and is projected to rise further to as much as 5 per cent next year. Food prices, in particular, are set to rise further as supply prices soar.

Addressing residents’ concerns, Dr Balakrishnan pointed out that external factors such as political stability in the Middle East and drought in Australia had driven up the prices of fuel and food.

What Singapore needed to do was make sure the economy grows, jobs are created and wages go up, he said. The Government is also letting the Singapore dollar strengthen to fight imported inflation.

He also intended to make more money available to the 84 Citizens’ Consultative Committees, the umbrella body for constituency level grassroots organisations.

He urged these to come up with ‘more innovative’ schemes to help the needy, and also not to be bound strictly by technical criteria.

‘If we can do it this way, we can have a system in which we don’t waste and we don’t promote abuse. But at the same time, we can respond flexibly and quickly to urgent needs on the ground,’ he said.

He noted that a 24-hour hotline has been set up on 1800-222-0000 to tell people where and how to get financial help. It will be launched next month.

For the ordinary person, he said everyone should try to conserve resources. ‘How many hours do we turn on our air-con, how far and how often do we drive our car, what kind of food you want to take - these are individual choices the Government cannot make. Don’t lead a wasteful lifestyle, that is something we all can do,’ he said.

The dialogue capped a busy morning for him as he toured the neighbourhood around Simei MRT station. Accompanied by East Coast GRC MP Jessica Tan, he visited a community garden, played some table soccer with residents and planted a tree.

His comments at the dialogue were well-received.

Businessman Kong Kim Soon, 53, who had asked the first question, said: ‘A lot of people think the Government is not doing anything. I think it is good to have him explain to the public.’
Source : Straits Times - 03 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985
mindy@mindyyong.com

http://www.hotvictory.com