MORE TIME FOR SINGAPORE LEEDON OWNERS?

MORE TIME FOR SINGAPORE LEEDON OWNERS?
—————————-
Rachel Kelly

Property developer GuocoLand is considering allowing the former owners of
Leedon Heights condominium to stay on in their units for a limited
period - a goodwill gesture at the request of those who want more time to
find replacement units.

The 23-year-old development off Farrer Road was sold to GuocoLand in a
collective sale last year for $835 million. Together with a $40-million
development charge, the price works out to $1,062 per square foot per plot
ratio.

Said Mr Karamjit Singh, the managing director of Credo Real Estate: “Most
developers prefer to get on with their demolition work so as to be able to
market their projects and, usually, contractually, the owners are allowed
up to six months.

“Recently, some developers with large projects have build show flats in an
obscure corner and allowed existing occupants to stay on while the
projects are being marketed.”

This appears to be what GuocoLand may do. In response to queries,
GuocoLand said it believes the land parcel is large enough for it to
undertake its marketing initiatives without inconveniencing the residents.

Leedon Heights sits on 48,525 sq m of land with a plot ratio of 1.6, which
can accommodate buildings of up to 12 storeys.

Said Mr Nicholas Mak, director of Knight Frank: “It’s very unusual for
developers to lease back to their owners after the collective sale.

“For developers to do that - I think that has happened before during the
Asian financial crisis - it would usually mean the developer feels that
the primary sales market is rather weak and is not ready to support the
kind of selling price they have in mind.”

According to the Urban Redevelopment Authority, there were almost 65,400
private residential units in the pipeline last September. Some 41,600 are
slated to be completed by 2010. - CHANNEL NEWSASIA
Source : Today - 15 Jan 2008

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Singapore HOTEL RATES TO SURGE 29%: STUDY

Singapore HOTEL RATES TO SURGE 29%: STUDY
——————————-
Hotel room rates for corporate customers are projected to surge 29 per
cent in Singapore this year, with demand expected to continue to outstrip
supply despite a planned increase of 8,850 new rooms in 2007 and 2008,
according to an American Express report yesterday.

According to the Amex 2008 Asia-Pacific Corporate Hotel Rate Projections
and Market Forecast, hotels in Singapore will enjoy a sustained high
occupancy rate averaging 81 per cent this year, driven by robust demand
from tourist and business travellers.

With major events such as the Singapore Airshow next month, the World
Gourmet Summit in April and the first night-time Formula One Grand Prix in
September, the city-state is poised to build on its record number of
arrivals. Last November, Singapore welcomed 837,000 visitors, setting a
new record for the calendar month, according to the Singapore Tourism
Board (STB). This is despite average room rates here marking a new
milestone of $226 a night - the highest ever in any month and up almost
30 per cent in annual terms, the STB added.

Room rates are also expected to rise sharply in the rest of the
Asia-Pacific region this year, according to the Amex report. Corporate
rates are forecast to increase 17 per cent in Hong Kong, 21 per cent in
Beijing, 36 per cent in Delhi,  40 per cent in Mumbai, 20 per cent in
Kuala Lumpur and 7 per cent in Tokyo.

Separately, in a statement released yesterday, the Urban Redevelopment
Authority and the STB said, as a general rule, hotel developments on sites
zoned for hotel use in the Government’s Master Plan cannot be converted to
other uses.

Source : Today - 15 Jan 2008

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Singapore Bayshore Park residents fail to form en bloc sales committee

Singapore Bayshore Park residents fail to form en bloc sales committee

By Ansley Ng,
SINGAPORE: Yet another attempt to put Bayshore Park on the en bloc market has been nipped by poor attendance, and residents who are not interested in selling are fed up with the repeated efforts.

They now want to consult Law Minister Prof S Jayakumar — who is also their Member of Parliament (MP) — during a Meet-The-People session.

The meeting on Saturday to form an en bloc sales committee for the East Coast condominium could not proceed as a quorum of 30 per cent was not fulfilled.

This is the second time an attempt to start an en bloc movement in the 1,100 unit Bayshore Park has been thwarted.

Last September, a group called for a meeting to form a committee to sell the estate but had to disband after objection from other residents on legal grounds.

A group of opposing residents had sent a lawyer’s letter to the old committee challenging its constitution and its validity under the amended Land Titles (Strata) Act, tweaked in September last year to improve transparency and balance competing interests.

At least 30 per cent of the 21-year-old estate’s sole proprietors have to be present in order for the extraordinary general meeting (EOGM) to go ahead for any en bloc push to proceed.

Bayshore Park is one of the most prominent properties along the East Coast and developments at the 21-year-old condominium — which is more than 1 million sq ft in size — is keenly watched by marketing agents and developers alike because of its prime seafront location and vast land area.

Saturday’s poor turnout was due to an inconvenient location, said a resident who is a member of the group leading the en bloc charge. Because of space constraints, the meeting was held at Bedok Community Centre instead of inside the estate.

More than 20 per cent of sole proprietors had turned up and some did not make it in time for the 2pm deadline, said the resident, who declined to be named.

Despite the setback, he told Today another meeting would be called within four to six weeks.

Residents against selling their homes were happy that another attempt at en bloc has failed but are concerned that there is nothing to stop another bid to call for an en bloc EOGM.

One resident, who declined to be named, said: “It is clear that the level of interest only belongs to one group of hardcore people who want to sell. But under current laws, it appears that there is no end to it.”

Every time an extraordinary general meeting is called, the estate ends up forking up to $10,000 in postage and logistic charges to host the meeting, he said.

The resident added that those against selling the estate want clarification on how many en bloc EOGMs can be called within a short period of time.

Mr Donald Han, managing director of property consultancy Cushman and Wakefield, said that if pro-en bloc groups repeatedly try despite failures, they will have to work harder on the ground to get more support each time.

“There is nothing to stop them from setting up the general meeting. But if they keep doing it, people might get tired and they might get less support,” said Mr Han. - TODAY/fa
Source : Today - 15 Jan 2008

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S’pore New Orchard MRT passageway set to dazzle

S’pore New Orchard MRT passageway set to dazzle

Opening today, the entrance-exit will link station to ION Orchard
By TAN SEO YEAN

BE ready to be greeted by friendly ushers and, if you are early enough, the aroma of a free cup of coffee will make your day too as you exit from the ticket counter at Orchard MRT station today.

‘Aesthetics, comfort and convenience guide us in the design of our mall, as has been the case for this new MRT entrance-cum-exit.’

- Soon Su Lin,
chief executive officer of Orchard Turn Developments

Also, take time to admire the largest LED walls in Singapore when you ride the escalator to get out onto Orchard Road.

All these and more are what await commuters when a new 90-metre entrance-exit, boasting stylish design finishes and creative ceiling lighting, opens this morning at Orchard MRT station.

It replaces the existing Exit C of the station, which was sealed off for ongoing construction of ION Orchard above the station.

The new shopping mall boasting several global fashion brands is slated to open in early-2009.

Commuters should have no problem finding their way.

Other than ION Orchard’s suave male ‘butlers’ serving gourmet coffee and fruit juice to early commuters and MRT staff ushers, Wisma Atria has engaged a dancing ‘traffic cop’, believed to be the first in Singapore, to guide commuters who want to go to Wisma Atria and Ngee Ann City.

Traffic policemen who dance while directing traffic were popularised when videos of them were first posted on YouTube.

Disoriented commuters can also look to homegrown dance group Sugar N Spice for directions at the station this weekend.

‘The new entrance gives commuters a sense of anticipation for ION Orchard,’ said Soon Su Lin, chief executive officer of Orchard Turn Developments.

‘Aesthetics, comfort and convenience guide us in the design of our mall, as has been the case for this new MRT entrance-cum-exit.

‘When ION Orchard is completed, shoppers can expect a seamless and convenient access to the mall by train, car and public road transport and direct connectivity to adjacent and nearby buildings,’ Ms Soon said.

The new entrance-exit at the station brings commuters closer to Wheelock Place, Tangs and the upper side of Orchard Road.

The passageway also leads pedestrians to a new 117-metre walkway that stretches from the traffic light junction to Wisma Atria and Ngee Ann City.

The walkway will be fully covered in two weeks.

Source : Business Times - 15 Jan 2008

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ICT entrepreneurs can tap $2.3m Singapore SingTel scheme

ICT entrepreneurs can tap $2.3m Singapore SingTel scheme

By ONG BOON KIAT

BUDDING infocomm technology (ICT) entrepreneurs can now tap a new free resource to help turn their ideas into commercial reality.

Mr Lew: Believes that collaborative efforts will result in a better development climate
Launched yesterday, the $2.3 million SingTel Partner Programme will provide eligible developers with equipment that they can use for developing and testing their nascent applications at no charge. Free training and consultancy, as well as discounted voice and data packages are also part of the deal, according to SingTel.

These resources will be housed at SingTel’s new innovation centre at its Exeter Road ComCentre building.

In conjunction, SingTel has created a new Web portal to serve the developers.

SingTel’s announcement comes at a time when the Singapore government is encouraging local entrepreneurship activities, especially among start-ups and academia.

Infocomm Development Authority of Singapore (IDA) chief executive officer Rear Admiral Ronnie Tay gave the thumbs-up to the new programme at the launch. ‘For local infocomm companies, they can generate their own intellectual property in products and services which will serve them well in the global market,’ he said.

He also urged other operators to create similar initiatives in partnerships with the industry, saying that IDA will be ‘most happy’ to support their initiatives.

The SingTel Partner Programme is partly funded by IDA, while a group of seven vendors chipped in with equipment and other resources. They are Forum Nokia, HTC, Microsoft, Motorola, Nokia Siemens Networks, Research in Motion (RIM) and Sony Ericsson.

CEO of SingTel Singapore, Allen Lew, said that a collaborative environment will create a better development climate. ‘By bringing together the key stakeholders like IDA, handset manufacturers and the entrepreneurial community, SingTel facilitates an ecosystem.’

For developers, the no-strings-attached aspect of SingTel’s scheme will be a further enticement. According to SingTel, developers are not obliged to partner with SingTel when their ideas bloom into commercial reality. They can even choose to partner other operators.

‘We believe that this will be a win-win situation for all, so it need not be a handcuffing type of deal,’ said Ong Geok Chwee, director of business development, Business Marketing Division, Business Group, SingTel.

She added that this is the first time SingTel has solicited developers this way. A SingTel partner engagement is usually done in a more formal process like via a tender.

Developers can sign up for SingTel’s Partner Program and can register at www.singtel.com/partner

Source : Business Times - 15 Jan 2008

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Singapore Telok Blangah, HarbourFront set to get more waterfront homes

Singapore Telok Blangah, HarbourFront set to get more waterfront homes

But areas closest to Mt Faber unlikely to achieve much higher plot ratios: JLL
By KALPANA RASHIWALA

(SINGAPORE) More waterfront homes, some tucked into the lower part of Mount Faber, could spring up in the Telok Blangah and HarbourFront precincts under Master Plan 2008, according to a recent study by Jones Lang LaSalle.

The impetus for more intensive use of residential land in these locations - which include a few sites currently occupied by Housing and Development Board flats - is the improved accessibility these precincts will enjoy because of the new Circle Line.

Another factor is a spillover of the hype from nearby developments like VivoCity, the nightspot at the restored St James Power Station, Reflections at Keppel Bay condo and Resorts World at Sentosa.

However, the areas closest to Mount Faber are unlikely to see much intensification in land use as they are part of a proposal to connect the ridges from Mount Faber to West Coast Park under the Urban Redevelopment Authority’s 2002 Identity Plan study, JLL reckons.

‘The recent market interest and demand for waterfront housing is likely to give planners the confidence to embark on more bold plans to capitalise on these features - hills overlooking the waters - around these two precincts but careful not to impinge on the natural landscape,’ says JLL’s head of research (South-east Asia) Chua Yang Liang. ‘Hence we can expect higher plot ratios but with urban control, that is, height limit. The likes of Mediterranean-style waterfront housing tucked into the hills is not difficult to imagine.’
‘The recent market interest and demand for waterfront housing is likely to give planners the confidence to embark on more bold plans to capitalise on these features - hills overlooking the waters - around these two precincts but careful not to impinge on the natural landscape.’

- JLL’s head of research (South-east Asia) Chua Yang Liang

Generally, JLL expects sites closer to the sea or near Mount Faber to be accorded low plot ratios - of 1.4 and 1.6 respectively - with accompanying height limits of five storeys and 12 storeys respectively. This is to ensure that residential developments further inland will be able to enjoy the water views, and that similarly, the view of Mount Faber from Sentosa will not be obstructed.

Most of these seafronting and foothills sites identified in JLL’s study are owned by the state and are either vacant or being used for car parks, a bus terminus and a food centre. They are all zoned for residential use under the existing Master Plan 2003 but without any plot ratios specified as they are subject to detailed planning.

However, JLL also highlighted four sites further away from Mount Faber and the waterways which it said stood a chance of being accorded higher plot ratios, ranging from 2.8 to 3.5, because of their proximity to the new Telok Blangah Station on the Circle Line. Two of these sites are now occupied by HDB flats while the other two are vacant state sites which could be suitable for sale to developers for residential projects, JLL suggests.

However, another plot flanked by Morse and Wishart roads and comprising vacant state land and private shophouses - currently zoned for residential use, without any plot ratio specified - is likely to be accorded a plot ratio of only 1.4 and a five-storey height limit, JLL reckons. This is to ensure that any new developments there will not block the views of colonial black-and-white houses and other buildings along and on the apex of Mount Faber, JLL argues.

The government last year ruled out major across-the-board plot ratio increases in the upcoming Master Plan 2008 - a pronouncement that some property market watchers say may have been aimed at avoiding fanning the en bloc fever at the time. But JLL has argued for selective plot ratio increases under MP 2008, mostly for vacant state land near Circle Line stations, especially at intersections with other MRT lines.

It even suggests that a site close to the new Telok Blangah MRT Station currently occupied by two private condos - Fairways and Harbour View Towers - could see its plot ratio raised from the present 2.1 to 2.8, because the site is close to the new station.

‘However, bearing in mind that these two developments are on private land, the plot ratio is not likely to be increased to as high as the 3.5 designated for some surrounding residential sites (occupied by HDB flats) to ensure that windfall gains from intensifying land use are socially equitable and not excessively accorded to a few private individuals/landowners,’ JLL added.

‘Historically, the districts along Singapore’s western coastline were dotted with exclusive homes - sitting on a hill and overlooking the sea - until port activities were extended to Pasir Panjang,’ Dr Chua notes. ‘Nevertheless, the intrinsic attractions of this location remain; and the transformation of the area has already begun with the new developments in the HarbourFront location and Sentosa. It may take more time before gentrification spreads to the Pasir Panjang area, but Telok Blangah and HarbourFront are definitely two precincts that are ripe for this transformation.’

Source : Business Times - 15 Jan 2008

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Top IT, telco managers command top dollar-Singapore

Top IT, telco managers command top dollar-Singapore

Competitive S’pore retail sector also pays its top honchos well: Hudson study
By CHUANG PECK MING

(SINGAPORE) Information technology and telecommunications (IT&T) is where the big bucks are - at least in Asia. Top managers in this sector are the most handsomely paid in major Asian cities, including Singapore.

They take home up to $750,000 a year here - and this does not even include their variable bonuses - according to Hudson, a leading executive recruitment firm in the region.

And that’s the highest after Hong Kong, where managing directors in the IT&T sector can command an annual pay package of up to $916,000.

Top IT&T honchos in Japan ($393,000-656,000) are only better off than their counterparts in Shanghai ($295,000-590,000), according to the comprehensive salary review by Hudson, which also covers lesser management jobs.

Hudson was not available for comment, but industry observers say that IT&T is not just one of the fastest growing businesses; it is also also the most competitive and is prepared to pay for talent.

By that measure, it’s no surprise that the overcrowded retail industry in Singapore also pays top dollar for top managers - up to $400,000 yearly, according to Hudson. That’s the highest among managing directors in the retail business in the four locations under Hudson’s review.

According to some analysts, the higher pay here also reflects Singapore’s sharper edge as a shopping paradise. Hong Kong, where the top man in the retail business is the lowest paid among the four locations, has been losing out as a shopping hub in recent years.

Shanghai is the city to look out for as a fast-rising retail centre, analysts pointed out. Salaries of top management in the industry there are also shooting up.

While a retail MD in the Chinese city commands around $393,000 yearly, smaller retail outfits in Singapore pay their top manager as low as $250,000, according to Hudson. In Japan, the annual salary hits a floor of $236,000.

Surprisingly, corporate finance is not a top paymaster even though the banking and finance sector is a top performer, at least in Singapore.

Going by Hudson’s numbers, an MD in corporate finance in Singapore is paid $250,000 plus yearly - one of the lowest among top managers.

Even heads of the local public relations firms do better - they get up to $300,000 yearly.

But analysts say a big chunk of the remuneration of corporate finance chiefs comes in the form of variable bonuses, which are not included in Hudson’s salary review.

MDs in corporate finance also do not fare very well in Hong Kong ($293,000), Shanghai ($315,000) and Japan ($393,000).

Because of the focus on cities, Hudson’s salary review does not offer much information on pay in manufacturing and industrial activity. The latter is confined largely to regional headquarter functions like logistics, sales, and marketing procurement.
Source : Business Times - 15 Jan 2008

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Converting Singapore hotels into condos just got harder

Converting Singapore hotels into condos just got harder

Rules to ensure that sites zoned as hotels are not switched to other uses
By KALPANA RASHIWALA
(SINGAPORE) Redevelopment plans involving the likes of Four Seasons Hotel along Orchard Boulevard and Negara on Claymore may have to go back to the drawing board after the government tightened hotel conversion rules yesterday. If the owners of these properties had visions of converting them to other uses - including residential - they may have to think again.

Redevelopment plans may have to go back to the drawing board after the changes to hotel conversion rules
The tightened rules will put a dampener over possible conversion plans. At the same time they will ensure that there is sufficient supply of hotel rooms in key tourist districts like Orchard Road, amidst the tourism boom.

As a general rule, hotels located on sites zoned for hotel use under the Master Plan will not be allowed to convert to other uses. The same goes for hotels that are located within zones for other uses but where there is a specific planning or sales requirement for a minimum hotel quantum to be provided, Urban Redevelopment Authority and Singapore Tourism Board said in a joint release yesterday evening.

‘The revised approach to evaluating hotel conversion applications will ensure that the location and number of hotel rooms safeguarded are in line with planning intentions and strategic planning objectives,’ the two government bodies said.

This supersedes a policy revision announced in 2002 when 19 hotels which had been previously safeguarded for hotel use under an earlier 1997 ruling were removed from the safeguard list. This meant that their owners could apply to convert the properties to other uses.

However, owners of 18 of these 19 hotels will now not be allowed to convert their sites to other uses such as residential, since these sites are zoned for hotel use under the current Master Plan 2003.

Apart from Four Seasons and Negara on Claymore, the affected hotels include York Hotel along Mount Elizabeth, Hotel Grand Central, Hotel Supreme and Holiday Inn Parkview - all in the Kramat/Cavenagh roads vicinity.

These are all prime district locations and their owners could have had aspirations to convert them to other uses, especially residential, to optimise their land values.

Hotel Properties Ltd has long-standing plans to redevelop Four Seasons Hotel, along with its other three neighbouring properties - Hilton Hotel, Forum and HPL House - into a mega project along Orchard Road.

In 2006, UOL Group gained control of Hotel Negara Ltd, eyeing its key asset, the hotel that it has since renamed Negara on Claymore.

Market watchers had expected UOL to redevelop the property into a residential project or a small office, home office (Soho) development in the longer term.

The list of 19 hotels removed from the hotel safeguard list in 2002 and which are zoned for hotel use under Master Plan 2003 also include a string of hotels in the Bencoolen/ Waterloo/Victoria streets area such as Allson, City Bayview and Strand hotels.

Yesterday’s changes also affect non-hotel developments currently on sites that are zoned for hotel use: these properties will only be allowed to be redeveloped into hotel uses, in line with the Master Plan intention.

URA said it will take a case-by-case approach to any applications for exceptions to these latest rules, factoring in the land use and planning intention for the area, as well as ensuring sufficient supply of hotel rooms to meet Singapore’s tourism needs.

Elaborating on the rationale for the changes, a URA spokeswoman pointed to record visitor arrivals and tourism receipts as well as high hotel occupancies and revenues. Demand is high for hotels, especially in the key tourist belts like Orchard Road and Singapore River.

However, these areas are already largely built up, leaving limited state land that can be made available for new hotel developments.

‘Hence, the loss of hotels within the key tourist districts is irreversible and even the conversion of just a few of the existing hotels would significantly impact the critical mass of hotel rooms within these areas,’ the URA spokeswoman added.

The presence of hotels in major tourist areas contributes to the mix of uses that is critical to the vibrancy and character of these areas as Singapore shapes up as a global city, she added.

With a decision on whether a hotel site can be converted to other uses now based on the plot’s Master Plan zoning, ‘the change puts the land use regulatory framework for hotels in line with other uses’, URA said.
Source : Business Times - 15 Jan 2008

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Singapoe Retail space turns competitive

Singapoe Retail space turns competitive

Concerns over new supply, rising costs even though occupancy is high
By ARTHUR SIM

DTZ Debenham Tie Leung has raised some concerns about the market for retail space turning competitive as more developments are completed in the next few years.

Vying for shoppers’ attention: Mall managers will have to work to attract consumers who are valuing individuality more than before and prefer to shop through less popular channels for exotic brands
It said that while occupancy in the retail market remained high at 90 per cent, there were some concerns about the effect of rising costs and the surge in new retail developments since 2006, as more than three million square feet of retail space, about 7 per cent of existing stock, was completed in the past two years.

According to its report, a further 15 per cent of new space can be expected to be added to the existing stock of 28.5 million sq ft of retail space by 2010.

As such, DTZ expects the retail market to be increasingly competitive, with substantial retail space that will be completed in the next three years.

These include projects like ION Orchard (663,000 sq ft) and Orchard Central (270,000 sq ft) which will be completed in 2008 and will house a significant number of retailers new to the Singapore market.
‘New niche retail space continues to energise the retail market.’

-DTZ associate director for retail Anna Lee

The rate of increase for first-storey monthly fixed gross rents in the Orchard/Scotts Road area slowed marginally in 2007, registering a 6.6 per cent increase year-on-year (YOY) compared with a 7.4 per cent increase in 2006 YOY.

For Other City Areas (OCA), first-storey monthly fixed gross rents rose by 5.9 per cent in 2007 YOY, up from 5.4 per cent for 2006.

First-storey monthly fixed gross rents in Suburban Areas (SA), rose 5.7 per cent in 2007 YOY, up from 4 per cent for the same period in 2006.

DTZ executive director Ong Choon Fah said that she expected new malls to continue to set new benchmark rents this year, but added: ‘Run-of-the mill malls could suffer.’

Noting that there has been ‘more resistance from retailers’ in terms of rental increases, Mrs Ong also highlighted that while there was limited growth in average monthly fixed gross rents, there was greater increase in turnover rents, or the component of the rent determined by the retailer’s revenue.

And active management of malls, as demonstrated by some of the Reit-owned malls, remains a key factor in staying competitive.

Saying that ‘not all malls work’, Mrs Ong added that mall managers will have to work to ‘tease out shoppers’ dollars’.

On some of these new strategies, DTZ associate director for retail Anna Lee added: ‘New niche retail space continues to energise the retail market as mall managers actively raise additional retail space through refurbishments, asset enhancement and redevelopment.’

Competition is also coming from abroad.

Mrs Ong said that there is anecdotal evidence that many Singaporeans have been travelling to Kuala Lumpur over the current festive season to shop. She also noted that as development costs are lower there, mall owners can afford larger malls that offer more innovative retail concepts. ‘It is not uncommon for new malls to be one million sq ft in size and there are even two million sq ft malls.’

DTZ also noted that young shoppers especially are valuing individuality more than before and prefer to shop through less popular channels, such as virtual retail, for exotic brands.

So besides having to grapple with significant supply, the retail market will also have to respond to structural changes in retailing and emerging consumer preferences, DTZ said.
Source : Business Times - 15 Jan 2008

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Jetstar offering perks with their new service

Jetstar offering perks with their new service

By VEN SREENIVASAN

FREE stays in Genting or Bintan - and rock-bottom fares to get there - are being offered by Jetstar Asia to promote its new Singapore-Kuala Lumpur service.
Jetstar starts its daily flights to Kuala Lumpur on Feb 1, together with rivals Tiger Airways and AirAsia.

Unlike the other low-fare airlines, passengers on Jetstar will use Changi Airport Terminal One and Kuala Lumpur International Airport’s main terminal.

The Qantas associate yesterday announced that it would be giving away a one-night free stay at the First World Hotel at Genting Highlands to the first 200 bookings made online for travel from Singapore to Kuala Lumpur between today and Jan 20.

For passengers flying from Kuala Lumpur to Singapore, it has tied up with Nirwana Gardens Bintan to give away 100 free room nights in the assortment of Indonesian beach resorts owned by Nirwana for the first 100 online bookings made by Jan 20.

Jetstar Asia’s promotional fare starts from from 88 cents one-way for passengers travelling out of Singapore and RM1.88 (S$0.82) one-way from Kuala Lum-pur, excluding fees and surcharges.

Last week, AirAsia’s chief Tony Fernandes announced that the Malaysian budget carrier would be giving away 30,000 free seats online to celebrate the long-awaited opening of the route to budget carriers. And Tiger Airways is offering 15,000 free seats.

The promotional rivalry follows the unexpected agreement by the Singapore and Malaysian governments to allow four daily services between the two cities by the budget airlines.

The move breaks the decades-long duopoly on the routes held by Singapore Airlines and Malaysia Airlines, with return ticket prices at some $400 or more.

The three budget carriers promise that the price of their return tickets will average below $150.
Source : Business Times - 15 Jan 2008

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