Amber Point For Sale Apartment / Condo, District 15 , 19.01.2008

Amber Point For Sale Apartment / Condo, District 15 , 19.01.2008

TY : [C]ondo [D]uplex [H]iRise [L]oRise [T]ownHse [P]enthse [W]alkUp [M]asionette

TNR=Tenure, DT=District, BDRM=Bedroom, AREA=Built-In, STR=Storey, Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update

Type — C
District — 15
Street — AMBER PT, #02 ABOVE
Tenure — FH
Area — 1690
Age — 17
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #04
Tenure — FH
Area — 1668
Age — 17
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #05 ABOVE
Tenure — FH
Area — 1660
Age — 10+
Room — 1
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #07 ABOVE
Tenure — FH
Area — 1668
Age — 10
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #08 BELOW
Tenure — FH
Area — 1668
Age — 15+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #10 ABOVE
Tenure — FH
Area — 1690
Age — 11+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #10
Tenure — FH
Area — 1650
Age — 10+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #11 ABOVE
Tenure — FH
Area — 1668
Age — 20
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #12
Tenure — FH
Area — 1668
Age — 16+
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #15 BELOW
Tenure — FH
Area — 1700
Age — 15+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #20 ABOVE
Tenure — FH
Area — 1700
Age — 10
Room — 4
Psf — 1300
PRICE$ — 0
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

http://www.property-elite.com

TY : [C]ondo [D]uplex [H]iRise [L]oRise [T]ownHse [P]enthse [W]alkUp [M]asionette

TNR=Tenure, DT=District, BDRM=Bedroom, AREA=Built-In, STR=Storey, Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update

Type — C
District — 15
Street — AMBER PT, #02 ABOVE
Tenure — FH
Area — 1690
Age — 17
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #04
Tenure — FH
Area — 1668
Age — 17
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #05 ABOVE
Tenure — FH
Area — 1660
Age — 10+
Room — 1
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #07 ABOVE
Tenure — FH
Area — 1668
Age — 10
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #08 BELOW
Tenure — FH
Area — 1668
Age — 15+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #10 ABOVE
Tenure — FH
Area — 1690
Age — 11+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #10
Tenure — FH
Area — 1650
Age — 10+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #11 ABOVE
Tenure — FH
Area — 1668
Age — 20
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #12
Tenure — FH
Area — 1668
Age — 16+
Room — 3
Psf — 1319
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #15 BELOW
Tenure — FH
Area — 1700
Age — 15+
Room — 3
Psf — 1300
PRICE$ — 0
Type — C
District — 15
Street — AMBER PT, #20 ABOVE
Tenure — FH
Area — 1700
Age — 10
Room — 4
Psf — 1300
PRICE$ — 0

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

For Sale,District 16 - Singapore Private Apartment / Condo - 18.01.2008

For Sale,District 15 - Singapore Private Apartment / Condo - 18.01.2008

Geophysics company sets up $79m base in Singapore

Geophysics company sets up $79m base in Singapore

By Nicholas Fang

ONE of the world’s top providers of services and equipment used to monitor earth tremors opened yesterday its new US$55 million (S$78.65 million) Asia-Pacific headquarters in Singapore.
Geophysical services firm CGGVeritas, which is listed in Paris and New York, said it chose Singapore for its headquarters as part of its long-term commitment to its businesses and customers in the region.

‘With the fast-developing economies of the Asia-Pacific and the increasing demand for natural resources, the location is a strategic one for CGGVeritas that will allow it to serve its clients and better position the company to strengthen its business in the regional oil and gas markets,’ it said in a statement.

CGGVeritas chairman and chief executive Robert Brunck said another factor that made Singapore attractive was the availability of information technology support and expertise in the Republic.

‘CGGVeritas is a technologically advanced company, and the availability in Singapore of a broad spectrum of highly qualified professionals from all over the world and a robust IT infrastructure make it an excellent location from which we can best support our Asia-Pacific clients,’ he said.

The new centre, at Serangoon North Avenue 5, was opened in a ceremony officiated by Minister of State for Trade and Industry Lee Yi Shyan.

CGGVeritas’ state-of-the-art regional headquarters and data processing and imaging centre is housed in a four-storey building that was built in partnership with JTC Corp unit Ascendas. The building, which took a year to complete, occupies 50,000 sq m of industrial land. It houses CGGVeritas’ 220 employees.

The company’s data processing and imaging computer facilities - among the most powerful in Singapore - process large volumes of seismic data around the clock to support exploration and production projects in the region.

Among the services CGGVeritas offers is the translation of processed data into graphic three-dimensional representations of the earth’s subsurface that provide insight into the production potential of oil and gas reservoirs.

Source : Straits Times - 18 Jan 2008

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Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

China magazine finds out what makes Singapore tick

China magazine finds out what makes Singapore tick

It cites factors such as leadership and cooperation between government agencies
NO TYPICAL POLITICIANS: Minister of State for National Development Grace Fu told Asian Business Leaders magazine that politicians here keep a low profile. — ST FILE PHOTO

THE Singapore politician who sings or performs on stage is a rare creature, according to junior minister Grace Fu.
‘This is not our style. We are simpler and keep a low profile,’ the Minister of State for National Development told a China-based business magazine.

Ms Fu’s comment in Asian Business Leaders formed part of an article in the latest issue of the magazine’s new series on the rise of Asia, documenting the unique experiences of each of the continent’s 53 countries.

In trying to prise loose the ’secret’ of Singapore’s success, the Chinese-language monthly interviewed several politicians, top civil servants and business leaders here.

The issues covered were extensive: from convincing Singaporeans to drink reclaimed water, to how differences between government bodies on environmental issues get resolved, as well as the country’s ’sensitivity’ to women joining politics.

In examining the story of Singapore and its achievements, the magazine pointed to factors such as far-sighted leaders who drew up long-term plans, as well as cooperation between government agencies to create an environment conducive for Singaporeans and attractive for business and investment.

‘Because a very good planning system has already been put in place, conflicts seldom arise between departments when implementing projects. Singapore’s basic urban structure was already determined 40-50 years ago,’ it said in the edition published last week.

It noted the roles of IE Singapore in helping local companies develop markets overseas, the Economic Development Board in drawing investors and the National Environment Agency’s (NEA) role in ensuring a good environment - something that has become part of Singapore’s brand image.

As has Minister Mentor Lee Kuan Yew, whom the magazine said many businessmen and others regard as a hero and role model:

‘Architect Liu Thai Ker told this magazine he once told a group of Vietnamese that the factor contributing to Singapore’s success could be summarised in three words - Lee Kuan Yew.

‘There are even entrepreneurs who claim that their management styles are similar to that of Lee Kuan Yew - farsighted, dare to take risks and able to prevail over dissenting views. Some also said that Lee Kuan Yew is Singapore’s most successful entrepreneur.’

Ms Fu was asked what a typical Singapore politician is like. Her reply in Mandarin: ‘We probably do not have typical politicians as the consideration of our leaders in forming the team is how to manage the country properly.

‘Our political hue is not as strong as others and therefore you hardly see Singapore politicians singing or performing on stage. This is not our style. We are simpler and keep a low profile.’

One of three women political office-holders, she says Singapore is still sensitive about having women in power.

Another subject of interest to the magazine was Singapore’s experience in environmental issues.

On how China can tackle its environment problems, NEA chief executive Lee Yuan Hee said there must be enough legislative safeguards for effective enforcement.

The magazine concluded that one key factor in Singapore’s success was what it termed its ‘leasing economy’. This term refers to a country that lowers its guard to attract funds and skills from other countries and multinational corporations to ‘lease its space’.

Back in 1965, such an approach was ’seen as exploitation by the leftist theory prevalent at that time’, wrote the magazine.

But then-prime minister Lee Kuan Yew, in explaining Singapore’s action, had said previously: ‘After all, Singapore did not have any natural resources for MNCs to exploit. What it has are a hardworking people, good urban infrastructure and a competent government.’

Source : Straits Times - 18 Jan 2008

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Mindy Yong

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mindy@mindyyong.com
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Record showing for Singapore top 1,000 firms

Record showing for Singapore top 1,000 firms

Combined sales rose to $1.3 trillion, with oil, energy-related firms in the lead

By Gabriel Chen
RISING STAR: Wing Tai Clothing, whose brands include Topman and Topshop, shines in the rankings under a newly created category based on return on equity (ROE). It secured an ROE of 412 per cent. — PHOTO: WING TAI CLOTHING

THE top 1,000 Singapore companies, both public and private, have set a spectacular new record in terms of total combined sales.
After shattering the $1 trillion turnover barrier two years ago, total sales continued to grow, rising by 11.8 per cent to $1.29 trillion for the 12 months ended May 31 last year. To put it another way, that is $1.29 million a million times over.

Growth was even sharper for combined profits, which surged by 15.5 per cent to $83.5 billion, according to credit ratings firm DP Information Group.

As in recent years, oil and energy-related firms led the way in terms of sales. Shell Eastern Trading came out ahead, followed by BP Singapore, Vitol Asia and SK Energy Asia.

Analysts say the hike in crude oil prices explains the dominance of these firms, and bodes well for both energy companies and commodity players.

Those that bagged top honours in the ratings in terms of profit, as well as other criteria, hailed from more diverse industries. Telco heavyweight SingTel clinched the top spot, followed by United Overseas Bank, DBS Group Holdings, Goodwood Park Hotel and Singapore Airlines.

Tincel Properties, in which Raffles Holdings used to have a stake, topped the return on equity (ROE) category. Newly included in the rankings, this classification means the firms can be compared in terms of the profits generated per dollar of capital invested by their shareholders.

Wing Tai Clothing also did well in this class, posting an ROE of 412 per cent. During the ranking period, the apparel retailer added nine new outlets under brands such as G2000, U2, Topshop, Topman, Dorothy Perkins and Karen Millen.

Co-produced by Ernst & Young Singapore, the ranking of the top 1,000 companies (S1000) and the top 500 small and medium-sized enterprises (SME500) is based on the annualised audited results of more than 8,000 companies incorporated in Singapore.

On a sector basis, two of the best performers in this year’s S1000 rankings were the services and financial sectors.

In the services category, Singapore Press Holdings won the net profit award, while agri-business group Wilmar International took the turnover award.

Manufacturing was the only sector to show a decline in turnover and profits.

The combined turnover of manufacturers in the S1000 was down by 8.3 per cent compared with the previous ranking period, while profits were down by 41 per cent. SME500 manufacturers fared no better, with turnover down by 17.1 per cent and profits down by 32.1 per cent.

Heavy automation engineering firm Romar Positioning Equipment bucked the downward trend and grew its profits by 304 per cent to $8.1 million. For that, it snagged this year’s SME500 net profit excellence award.

‘In the last two years, the oil and gas sector has picked up, so we rode the wave,’ says managing director Jonathan Lim.

‘He’s in the right industry as oil prices have spiralled upwards. It makes sense that oil exploration and energy-related equipment is in demand,’ said Standard Chartered Bank economist Alvin Liew.

For the SME500, sales were up by 3.4 per cent at $13.9 billion though profits rose by only 4.9 per cent to $665.5 million.

Source : Straits Times - 18 Jan 2008

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Mindy Yong

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mindy@mindyyong.com

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Wanted: Smarter search engines

Wanted: Smarter search engines

A*Star pits software engineers against one another in contest to change Net search technology

By Tania Tan

IMAGINE being able to search for a song online just by humming its tune.
If software engineers across the globe succeed, this could become a reality by the end of the year.

They will be competing in the Star Challenge in a bid to develop the first intelligent multimedia search engine. The winner will walk away with the top prize of US$100,000 (S$142,900).

Organised by the Agency for Science, Technology and Research (A*Star) in conjunction with the opening of the Fusionopolis, the eight-month-long competition aims to attract engineers from the world’s leading IT bodies.

‘This is not just another digital or software competition,’ said A*Star chairman Lim Chuan Poh.

‘We hope it can radically change the way people interact with multimedia information.’

Internet searches today are largely text-based, which means that search engines are usually able only to recognise specific words in a website’s content, explained Professor Lye Kin Mun, a programme director for the Science and Engineering Research Council.

It also means that text searching can often throw up unwanted or inaccurate search results, because keywords do not always reflect the content of the page.

‘Search engine technology hasn’t reached the stage where people and computers can communicate clearly,’ said Prof Lye.

The contest will challenge IT engineers to develop software that can recognise phrases, sounds and images in audio-visual media.

Searching for your favourite YouTube video may then involve simply typing in a random phrase from the clip instead of hunting down the video’s title, he explained.

The software should also provide more accurate searching, said Prof Lye, adding: ‘No more dummy searches.’

An international panel of experts from the United States and Singapore will evaluate the submissions.

Teams will compete in several rounds and the top five will be flown to Singapore for the grand final in October, during the opening of the Fusionopolis.

The technology powerhouse will bring together more than 1,500 scientists from various disciplines, including IT, precision engineering and informatics.

Source : Straits Times - 18 Jan 2008

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Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

1,098 Singapore HDB flats now open for balloting

1,098 Singapore HDB flats now open for balloting

THE Housing Board yesterday launched a ballot for the sale of 1,098 flats in Bedok, Clementi, Queenstown and Jurong West with demand for public housing staying on the boil.
The flats are surplus units from the board’s Selective En bloc Redevelopment Scheme, which relocates residents from ageing blocks to new ones nearby.

Such flats are usually highly coveted as they are located in mature estates near transport nodes and amenities.

Adding to the demand is the fact that recent hikes in private property prices have pushed more buyers to these government-subsidised flats.

Last month, an HDB ballot for 316 surplus flats in the outlying towns of Hougang, Sengkang and Punggol drew an overwhelming 5,147 applications.

The Government responded by committing to putting out about 6,000 new flats between last month and June.

Its latest sale exercise includes 234 studio apartments for the elderly in Queenstown and Jurong West, at a cost of $54,000 to $89,000 each.

There are also 164 three-room flats priced from $180,000 to $266,000, 516 four-room flats going for $282,000 to $400,000 and 184 five-room flats between $400,000 and $520,000.

Five unfurnished sample units in Clementi and Queenstown will be open for viewing.

While some of the flats are immediately available, others will be ready by 2012.

Online applications from potential buyers must be submitted by Feb 6.

A computer ballot will determine the queue position of eligible applicants and those shortlisted will be informed in April.

Source : Straits Times - 18 Jan 2008

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Mindy Yong

(+65)91002985

mindy@mindyyong.com
http://www.hotvictory.com

Info on Singapore private hospital fees

Info on Singapore private hospital fees

FOLLOWING the success of bringing health-care costs down by making public hospital charges known, the Health Ministry is pushing private hospitals and doctors to do the same.
Announcing this yesterday, Health Minister Khaw Boon Wan said his ministry will push this effort more aggressively through legislation later this year.

Current efforts by the private sector to do so are voluntary, resulting in large gaps in the data.

He said: ‘Don’t be shy. Why are they so shy about telling us how much they charge their patients?

‘We are not looking at individual bills but statistically - on average, the median or percentile. How much do you charge, compared to colleagues in the same speciality?’

Five years ago, the Health Ministry moved to make public the size of hospital bills - which triggered almost immediate price cuts at public hospitals that had higher prices than others.
‘This will benefit our patients and the hospitals too. It is worth doing,’ Mr Khaw said.

Hospitals in the private sector said they support any move to provide more information to patients that would enable them to make better and informed decisions on their health-care needs.

The hospitals will continue to do so by not only providing bill sizes but also clinical outcomes.

Source : Straits Times - 18 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore $33m vaccine research centre launched

Singapore $33m vaccine research centre launched

By Tania Tan

THE market for vaccines is fast-growing, and scientists here are jumping into the fray to develop new ones.
About 80 researchers aim to do just this in a $33 million, 6,000 sq m facility set up by the Agency for Science, Technology and Research (A*Star) and launched at the Biopolis on Tuesday.

They will examine how the human immune system reacts to cancers and infectious diseases and how the body’s natural defences can be harnessed to ward these off.

It is hoped the fruits of their work will feed the demand in the market, which is expected to grow from its current size of US$9 billion (S$13 billion) to more than US$42 billion by 2015.

When administered in injections, vaccines trigger the human body’s ability to marshal its own defences to recognise and fight off cancerous tumours.

‘It would mean life-long protection again cancers,’ said Dr Jean-Pierre Abastado, a lead investigator at the Singapore Immunology Network - SIgN for short.

His team and nine others will investigate diseases such as skin cancer, malaria and lupus, which causes the body’s defence mechanism to attack its own tissues.

Minister of State for Trade and Industry S. Iswaran, the guest of honour at the opening of the multi-million dollar centre, described it as a milestone in Phase 2 of Singapore’s push to develop its biomedical sciences sector and become a global leader.

The manufacturing output of the sector here more than trebled from $6.3 billion in 2000 to $23 billion in 2006, he noted.

Expenditure in the field also jumped 67 per cent to $5 billion over the same period.

SIgN is led by the former director-general of the French Pasteur Institute, Professor Philippe Kourilsky.

The centre will have ties to international institutes such as Japan’s Riken Centre for Allergy and Immunology and the Australian National University.

With the launch of the centre came the set-up of the Singaporean Society of Immunology, which will give scientists a networking platform.

Source : Straits Times - 18 Jan 2008

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Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore Job market for execs continues to look bright

Singapore Job market for execs continues to look bright

Survey shows about 50% of companies plan to hire in first quarter of this year

By Keith Lin

THE looming spectre of an economic slowdown will not dim the job prospects of executives here, a survey shows.
Around one in two companies plan to increase their executive pool in the first quarter of this year, says human resource consultancy Hudson, a leading global executive headhunter.

Most of those keen on doing so are manufacturing companies, especially those in the emerging bio-medical and chemical sectors.

Besides hiring, more than seven in 10 will probably also offer substantial pay hikes to attract managerial talent.

These findings are based on a poll of 659 key decision-makers in multinational companies here.

It was done last November amid a slowing down of Singapore’s economy, with growth in the final quarter slipping to 6 per cent, the slowest rate in nearly three years.

Still, 51 per cent of companies polled say they plan to recruit more executives in this first quarter. This, however, is a dip from the 56 per cent who had such plans for the same period last year.

Hudson’s country manager Mark Sparrow attributes the good news to Singapore continuing to offer multinationals ‘great opportunities for a low-cost base packed with talent’.

The latest official figures affirm what Mr Sparrow told The Straits Times.

The Manpower Ministry reports that as of last September, almost half of the 35,500 job vacancies, or 45 per cent, were for professionals, managers, executives and technicians (PMETs). Vacancies for these PMETs totalled 16,100.

Trade union leaders like the general secretary of the United Workers of Petroleum Industry, Mr K. Karthikeyan, agree with the Hudson findings. He described the dearth of managerial talent in his industry as ‘chronic’.

‘It is not uncommon to see an experienced engineer switch companies, then poach his team of senior technicians from his previous employer,’ he said.

While most companies in the banking and financial services are also expected to raise staff count in the first quarter, fewer said they would do so - 53 per cent against 59 per cent a year ago.

As for managerial pay, around 71 per cent of companies see themselves paying new managers over 10 per cent more. A year ago, only 58 per cent said so.

Employers likely to give the biggest pay hikes are banks, with 85 per cent expected to do so, and IT companies, with 84 per cent.

A separate survey by human resource research firm ECA International found that workers in general will likely receive a 5 per cent pay rise this year, up from 4.5 per cent a year ago.

‘But employees are likely to experience relatively subdued real income rises compared to previous years,’ said its general manager Lee Quane.

The reason: Much of it will be swallowed up by inflation, which jumped to 4.2 per cent in November, according to latest official figures.
Source : Straits Times - 18 Jan 2008

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Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

More pawn jewellery as gold hits record high - Singapore

More pawn jewellery as gold hits record high  - Singapore

Pawnshops report more people coming in with gold items in past 2-3 weeks

By Tara Tan & Amy Tan
PRECIOUS METAL: Mr Yeow Shang Ying of Heng Leong Pawnshop says business has increased and he now issues about 2,200 pawn receipts each month. — ST PHOTO: WANG HUI FEN

WITH gold hitting a record high of US$909 (S$1,299) an ounce on Monday, Singaporeans are cashing in.
Almost all 15 pawnshops The Straits Times approached said more people have been pawning gold in the past two to three weeks.

Mr Yeow Shang Ying, managing director of Heng Leong Pawnshop and vice-president of the Singapore Pawnbrokers’ Association, said his shop issues 2,000 pawn receipts in an average month, but this has increased to about 2,200 in recent months.

A spokesman for Soon Soon Pawnshop in Bedok confirmed the trend, saying: ‘It is natural, because they can get more money now.’

Retiree Tan Bee Meng, 67, who had just pawned a gold bracelet in Chinatown, said: ‘I am lucky that the price of gold is so good now, since I need the cash.’

Gold prices have been on the rise as investors - spooked by rising oil prices, the spectre of a recession in the United States and a falling US dollar - fall back on the metal as a stalwart investment in uncertain times.

The trend of re-selling personal gold jewellery began last year as the price of gold increased by 32 per cent during the year. The price of gold has gone up another 8 per cent since Jan 1. Analysts expect it to reach US$1,100 per ounce this year.

But even as people who want cash are pawning their gold pieces, the high prices have hit those who pawned their jewellery earlier and now wish to redeem the pieces.

When taxi driver Chia Ah Bah, 51, pawned a gold necklace and bangle almost three years ago, he received about $500. Redeeming it now will set him back almost $900, he said.

In polling jewellery shops and goldsmiths, The Straits Times gathered a mixed picture of the effect of gold prices on sales.

With the price of pure gold jewellery at $50.50 per gram, up from $39 at this time last year, consumers have not seemed deterred, said Mr Chng Seng Mok, chairman and chief executive officer of Poh Heng Jewellery.

‘Gold is still very popular among them,’ he said.

Retailers also put brisk sales down to the better bonuses people have just received.

Ms Sharon Perera, a 39-year-old sales manager who was browsing at On Cheong Jewellery, said: ‘I will still buy gold even though the price is high now because I think the prices may appreciate even more, and it is a good investment.’

But other retailers say they are beginning to see people being put off by the higher prices.

Salesman Desmond Low from Teck Seng Jewellers said business there had fallen by about 60 per cent from last year because ‘people are re-selling gold but they are not buying’.

Mr Ian Koo, director of Raja Kings Goldsmith and Jewellers, agreed, saying people were still making ‘necessary purchases’ - such as for wedding gifts and special occasions - ‘but otherwise, they will buy only when the price is low’.
Source : Business Times - 18 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Export growth slumps slowest pace in five years

Export growth slumps slowest pace in five years

2.3% figure is well under official forecasts of between 4% and 6% growth

By Bryan Lee

A SURPRISE contraction last month capped a disappointing year for Singapore exports, which missed official targets as growth slumped to its slowest pace in five years.
Expansion last year hit just 2.3 per cent, well under official forecasts of between 4 and 6 per cent and small change compared with the 8.5 per cent growth in 2006.

Last month’s dismal figures reflect the wider downturn: Overseas sales of goods made here shrank for the second straight month, contracting 4.5 per cent against expectations for at least 5 per cent growth.

Pharmaceutical exports disappointed, failing to recover from a surprise contraction in November, while the electronics sector shrank for the 14th time in 15 months.

Economists had expected a rebound from November’s 3.4 per cent contraction. A better December trade figure could have signalled that overall economic growth for the fourth quarter was better than an early estimate of 6 per cent.

But the dismal data out yesterday dashed such hopes, pointing instead to yet another weak month for manufacturers.
It has cast a pall over the new year, but trade agency IE Singapore is predicting a turnaround, forecasting export growth of between 4 and 6 per cent this year.

This is despite expectations that growth in all of Singapore’s main markets will slow.

The trade agency is pinning its hopes on a long-overdue global technology recovery to provide enough boost to achieve its target.

‘GDP growth of our trading partners will moderate, but we are hopeful that the other engines of growth for trade can help us,’ said IE chief executive Chong Lit Cheong.

Exports last year were a major letdown. Growth was only 2.3 per cent - mainly because of shrinking exports of semiconductors, disk drives and telecom equipment. The number paled beside the 3 per cent predictions of many market economists.

Electronic exports shrank 9.2 per cent last month, as well as for the whole year.

‘The electronics sector remains firmly in the doldrums,’ said HSBC economist Robert Prior-Wandesforde. Much of this was due to a prolonged downturn in the global electronics cycle, he said. ‘But Singapore has fared a lot worse than other tech-heavy countries, hinting at some more fundamental problem.’

By contrast, pharmaceuticals helped hold up overall exports, jumping 21 per cent for the whole of last year.

But a failure last month by the notoriously volatile sector to rebound from a surprise November contraction kept overall exports in the red for a second straight month.

IE is counting on a global chip recovery in the second half of this year to boost local electronic exports. Industry forecasts predict global chip sales to grow 6 to 9 per cent this year, up from last year’s 3 to 4 per cent.

Two new pharmaceutical plants coming on stream this year could boost drug exports, said Mr Chong.

But all eyes are on the US, Singapore’s No. 2 export market after Europe, which may be sinking into a recession. Mr Chong said IE’s forecast may be revised if the country’s economic outlook worsens from the agency’s 1.5- to 2-per-cent forecast.

Indeed, some analysts said the IE growth target is ambitious. ‘My best guess is that exports will grow 2 to 4 per cent, given our view of US growth at 0.5 per cent,’ said Standard Chartered Bank economist Alvin Liew.
UNDERLYING PROBLEM?
‘The electronics sector remains firmly in the doldrums. But Singapore has fared a lot worse than other tech-heavy countries, hinting at some more fundamental problem.’

HSBC ECONOMIST ROBERT PRIOR-WANDESFORDE, saying the prolonged downturn in the global electronics cycle may not be solely responsible for the 9.2-per-cent fall in electronic exports last month as well as for the whole year

Source : Business Times - 18 Jan 2008

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Inflation seen eating up into pay hikes this year

Inflation seen eating up into pay hikes this year

Real take-home pay increases will be subdued: HR group
By CHUANG PECK MING
INFLATION is likely to take a big bite of that fat pay rise this year. With Singapore workers looking forward to some of the biggest pay rises in the developed economies at 5 per cent, ECA International, a global club of human resource practitioners, says real take-home increases will be ‘relatively subdued’.
A surge in prices of oil, food and lodgings will ‘counter-balance’ the projected big pay rise ‘considerably’ not just in Singapore but also in the likes of China, South Korea and Taiwan, ECA said in a statement released yesterday.

‘This latest upswing in inflation, which has caught many people by surprise, will have an impact on real salary increases in 2008,’ said the firm’s general manager Lee Quane.

‘When many companies calculated salary increases for 2008, inflation forecasts were relatively low,’ he said. ‘Inflation in Singapore, for example, is now around two-and-a-half times higher than anticipated in October forecasts, so employees here are likely to experience relatively subdued real income rises in comparison to previous years.’

The situation is going to give companies faced with a tight labour market a big headache in the coming months, according to Mr Quane.

‘They will need to consider revising their forecast salary increases or provide higher salary increases next year to make up for this year’s relatively low increase in real incomes,’ he said.

In nominal terms, ECA’s recent poll shows Singapore workers can expect their pay to go up by an average of 5 per cent in 2008 - thanks to a robust economy and a labour shortage.

While this is below the estimated 7.3 per cent average for Asia as a whole, it is still higher than last year’s 4.5 per cent.

‘For a developed economy such as Singapore, this level of wage increase is high,’ Mr Quane said.

‘Most other developed economies in our survey are showing forecast wage increases of approximately 4 per cent.’

Hong Kong, Singapore’s chief economic rival, is likely to see pay increases flat at 4 per cent this year - the second-lowest in the region, according to ECA.

Japan, again, has the lowest projection for pay rise in Asia for 2008 - 3 per cent, the same as in 2007.

The Philippines is tipped to join India, Vietnam and China in seeing the biggest pay increases.

Salary increases in Asia are expected to be 25 per cent more than they were in 2005. And for the first time, the region’s pay hikes are tipped to be higher than those in Eastern Europe, where signs show wages are starting to stabilise.

‘Regionally, India and Vietnam are expected to see the biggest increases when compared with last year,’ ECA said.

‘In India the 14 per cent salary rise is significantly up on last year’s high of 12.6 per cent, while Vietnam’s 10 per cent prediction is a notable increase on the 8.5 per cent in 2007.’

Led by India, Asia is projected to have the biggest pay increase in 2008.
Source : Business Times - 18 Jan 2008

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Singapore A-Reit’s portfolio hit record occupancy of 99% at end-2007

Singapore A-Reit’s portfolio hit record occupancy of 99% at end-2007

By UMA SHANKARI

ASCENDAS Real Estate Investment Trust (A-Reit) said yesterday its overall portfolio occupancy rate increased to a record 98.7 per cent at end-2007 from 96.1 per cent at end-2006.

Slump: Anticipated high supply of 702,000 sq m of logistics and distribution space in the next two years is expected to dampen rents
The occupancy rate for A-Reit’s multi-tenanted buildings rose to 97 per cent at end-2007 from 93.1 per cent at end-2006, the trust said.

Based on value, A-Reit’s portfolio comprises 51 per cent multi-tenanted buildings and 49 per cent sale- and-leaseback properties.

A-Reit renewed and signed new leases including expansions amounting to a net lettable area of 46,933 sq m for the three months ended Dec 31, 2007. These leases represent 6.8 per cent of the net lettable area of its multi-tenanted buildings and annualised rental income of $11.1 million.

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Click here for A-Reit’s press release
Total new leases including expansions for the quarter were 16,961 sq m - 28.7 per cent in business and science parks, 32.8 per cent in hi-tech industrial buildings and 38.6 per cent in two other sectors - light industrial and flatted factories and logistics and distribution centres. A-Reit said HansaPoint@CBP, a partial built-to-suit development project it undertook in November 2006, attained 100 per cent pre-committed occupancy during construction. The development is expected to be completed next month.

Looking ahead, demand for industrial space is likely to remain healthy due to multi-national companies setting up facilities in Singapore and the spillover effect from tight office supply in the central business district, A-Reit said.

But anticipated high supply of 702,000 sq m of logistics and distribution space in the next two years is expected to dampen rents, it warned.

Source : Business Times - 18 Jan 2008

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Mindy Yong

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