“Cool Dome” design wins S’pore Sports Hub project

“Cool Dome” design wins S’pore Sports Hub project

By Patwant Singh,

SINGAPORE: The “Cool Dome” design, submitted by the Singapore Sports Hub consortium, will be Singapore’s next iconic structure.

The Singapore government on Saturday revealed the consortium as its preferred bidder for the Singapore Sports Hub project.

The consortium beats two other bids.

These were the “Horse shoe shaped design” submitted by the Singapore Gold consortium and the “wrapped-Stadium design” submitted by the Alpine Mayreder.

The new sports hub will be completed by end 2011 and will cost some S$1.2 billion.

The integrated complex includes a 55,000-seat capacity stadium with a retractable roof, an aquatic centre, multi-purpose arena and retail space.

In sunny Singapore, the “dome” will allow plenty of ventilation and help bring the temperatures down along with spot cooling for the seats.

But it was the consortium’s proposal of sports, entertainment and community programmes that won the vote.

Dr Vivian Balakrishnan, Minister for Community Development Youth and Sports, said: “They were strongest in offering a comprehensive sporting calendar. For instance they guaranteed 90 event days at the National Stadium and at least 46 sport event days at the Singapore Indoor Stadium. The programme consists of a well balanced mix of local, regional and international sporting events and across a wide spectrum of sports which we believe will resonate with our people.”

Among the events lined up include an ASEAN clubs soccer league and international cricket matches.

The consortium will have to design, build, operate and finance the project, a first in the world for a mega sports hub.

Dr Balakrishnan said: “Which means the government is not liable for the capital expenditure. What we do is in exchange for contracted services, at a standard that we specify, we will pay the consortium, a pre-agreed sum every year for 25 years.”

The consortium is also proposing to set up a ‘Premier Park Foundation’ to help fund activities and facilities.

Funding for the Foundation will be done by reinvesting a large portion of the Sports Hub’s commercial revenues.

Ludwig Reichhold, MD, Dragages - Singapore Sports Hub Consortium, said: “The estimate of S$800 million was established sometime in 2005 at the time when the construction cost in Singapore was much lower than it is now, the current construction cost of S$1.2 billion is the combined result of the increase of materials and labour in Singapore over the past couple of year which has been quite steep.”

But there is still much work to be done for the consortium before the deal is made final, among them sorting out the legal documentation and even fine tuning the design.

All the paperwork is expected to be completed by March.

After which the Consortium has to demolish the current National Stadium and complete the new complex by end 2011. - CNA/ir/ch
Source : Channel NewsAsia - 20 Jan 2008

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Singapore Marine Parade Town Council helps residents reduce energy use

Singapore Marine Parade Town Council helps residents reduce energy use

By Dominique Loh
SINGAPORE: Figures from the Department of Statistics show that in just one decade, domestic electricity consumption jumped 43 per cent while the population grew by only 18 per cent.

Marine Parade Town Council is therefore on a drive to help residents reduce energy use.

Switching to an energy efficient light bulb can save as much as S$15 per bulb every year as it uses 80 per cent less energy. It is also friendlier to the environment.

Senior Minister Goh Chok Tong helped spread the word to residents in Mountbatten on Sunday, hoping they can be more aware of how their actions affect climate change.

But more importantly, he wanted to let the residents know how they can play a part in reducing energy usage.

The key lessons are kept simple and easy.

MP for Marine Parade GRC Lim Biow Chuan said, “Once they set in, (habits) are actually quite difficult to change. I’m sure (for) many of us, when we leave our offices, we don’t turn our computers off. (Our) computers are on standby mode and that consumes electricity as well.”

By turning off appliances completely, as much as 10 per cent of electricity consumption can be saved.

Setting the air conditioner to a higher temperature may save about S$60 a year. Using a fan to cool off instead can mean spending S$360 less annually.

By switching to public transport, households can even save as much as S$2,500 every year.

While touring the Mountbatten Town Carnival, Mr Goh also officially opened the PAP Community Foundation kindergarten at Old Airport Road, which was built at a cost of S$230,000 and caters to some 150 children. - CNA/ac
Source : Channel NewsAsia - 20 Jan 2008

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Newly-opened Singapore Marina at Keppel Bay welcomes Clipper Race participants

Newly-opened Singapore Marina at Keppel Bay welcomes Clipper Race participants
By Hasnita Majid,
SINGAPORE : A new waterfront playground Marina at Keppel Bay has officially opened.

It is part of Singapore’s bid to be a leading sailing and yachting destination in Asia.

At its launch on Saturday morning, the Marina welcomed the Uniquely Singapore Clipper, which sailed into the berthing area together with other boats taking part in the Clipper Round The World Yacht Race.

Sailing into Singapore waters at about noon, the Uniquely Singapore Clipper, along with the other nine boats taking part in the race, was given a warm welcome.

Further down the waterway, a welcoming party - including Senior Minister Goh Chok Tong - was on hand to greet the international participants.

There are plans to make this waterfront development a world class one.

Teo Soon Hoe, Senior Executive Director and Group Finance Director, Keppel Corp, said: “This is not about competition, it’s about having more destination points. As you know boaters come from different places but if we can provide them with different destination, that will add to the whole interest of the people in the yachting and boating sports. The idea is to try and link up with the marinas around the region. If we succeed in doing that, this will become a hub.”

Keppel Corporation added that it also plans to start a Sailing Academy to train those interested in the sport.

It’s already struck up a partnership with the Nongsa Point Marina in Batam where the training will be held.

That was where the 10 clippers were berthed for a few days before making their way to Singapore.

The teams had just finished Race 5, with the Uniquely Singapore Clipper finishing 7th.

That placed the boat 9th in the overall position.

Mark Preedy, Skipper, Uniquely Singapore Clipper, said: “We’ve got a few boats ahead of us and only by a few points. It’s a case of covering then and trying to just make the biggest gains on those guys. Really at the moment…we are mostly focussed on the boats and see what their point was and go for them really and hopefully get above them and then we can start looking at the top of the leaderboard really.”

Last year the team ended the whole race in the fifth spot.

So far, crew members are enjoying the experience, despite challenges like seasickness.

Diana Chan, Crew Member, Uniquely Singapore Clipper, said: “They always say the first day you think, you feel like dying and the second day you wonder why you are not dead yet and by the third day you just don’t care anymore.”

Elmy Rizal, Crew Member, Uniquely Singapore Clipper, said: “For me, when I get seasick, I just let it go and that’s what the skipper told us, if you feel seasick just let it go and it’s gonna get over around a few days ”

The crew has been together since they left Fremantle, Australia and they will be sailing all the way to Qingdao China, where a new set of crew will be joining the clipper for the next leg of the race.

The clippers will leave Singapore for Qingdao on the 27th of this month.

To find out how the Singapore team tackled earlier legs of the race, click on to this website. - CNA/c

Source : Channel NewsAsia - 20 Jan 2008

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Singapore Real estate market quiet as uncertainty looms in US

Singapore Real estate market quiet as uncertainty looms in US

Buyers might want to delay their property purchases till a clearer picture emerges, say experts

By Joyce Teo, Property Correspondent
IN THE LEAD-UP TO CHINESE NEW YEAR, sales activity is expected to slack, but some condos have launched staff previews. These include Waterfront Waves (above), which will be developed by Far East Organization and Frasers Centrepoint. Prices have been set at $750 psf to $800 psf fro the Bedok Rservoir condo. — PHOTO: FRASERS CENTREPOINT

THE Singapore property market has turned somewhat jittery in the face of growing fears about a recession in the United States.
Analysts suggest that unless buyers need a home to live in, they might want to delay any purchases until a clearer picture emerges.

The days when speculators could make quick, easy profits are almost certainly over, they say.

Thus, consultants do not expect much sales activity in the lead-up to Chinese New Year, especially since few launches have been scheduled.

Indeed, market players might hold off till the Budget is released later next month, so they can gauge the Government’s stance, said one consultant, who added: ‘If I were a buyer, I’d wait before committing myself to a property investment.’

Apart from worries that a US recession might hurt growth in Singapore, some also believe last year’s price spurt in high-end homes was overdone.

Wait for the right price

‘Buyers should take a longer-term view and buy when they come across properties priced at acceptable levels. Developers are unlikely to cut prices, which should provide support for the market.’
MR MAK, on how homebuyers can cut down their risks when considering property investments in the current uncertain climate
‘If your goal is to flip the property before completion, you should stay out of the market,’ said Savills Residential director Ku Swee Yong. Such buyers could end up having to finance their purchases long term, he warned.

He noted that Singapore’s property market is stable but said there is a risk that prices could fall. If US sub- prime woes force mortgage insurers to write off bad insurance, this could trigger construction industry layoffs, as well as defaults on consumer credit-card rollover debt and car loans, said Mr Ku.

Some sellers appear to have lowered their expectations, particularly for high-end homes. But their asking levels are likely to remain above the purchase prices, analysts note.

In a recent classified advertisement in The Straits Times, high-floor units at Sky@eleven, a condominium off Thomson Road, were going for $1,250 per sq ft (psf). That falls short of earlier asking prices of $1,300 psf to $1,400 psf, but tops prices achieved at the launch early last year. Then, the highest price garnered was $1,200 psf, with the average at $975 psf.

‘The opportunities are there, but it is all a matter of timing,’ said a consultant. ‘In the short term, people who don’t have a lot of money to play with should think twice.’

‘Buyers should take a longer-term view and buy when they come across properties priced at acceptable levels,’ said Mr Nicholas Mak, Knight Frank’s director of research and consultancy. ‘Developers are unlikely to cut prices, which should provide support for the market.’

Buyers who plan to live in their new homes, especially if they’re using collective sale gains, have less to worry about, though choices in the primary market might be limited. ‘Developers are waiting for the tempest in the stock market to pass before launching their properties,’ said Mr Mak.

There are favourable deals in the sub-sale and resale market, and the mass and landed markets remain laggards, consultants say. Recent caveats lodged show there are favourable landed buys in suburban spots.

One seasoned property investor said he would continue to scout for bargains but would be more selective.

‘The market is nervous but it’s not doomsday. There are still good buying opportunities,’ he said, adding that he scooped up a few cheap buys just after Sars. ‘Do your homework and narrow your search to, for example, areas with a growth story.’

Where new launches are concerned, two condos have started their staff previews. Martin Place Residences in Kim Yam Road is priced at $1,800 psf to $2,300 psf. Over in Bedok Reservoir, Waterfront Waves is priced at $750 psf to $800 psf.
Source : Straits Times - 20 Jan 2008

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Singapore CPF savings provide only 25% of funds needed

Singapore CPF savings provide only 25% of funds needed

SINGAPOREANS rely too heavily on their Central Provident Fund (CPF) savings to fund their retirement, a global survey on retirement planning by French financial group AXA has found.
In fact, it is estimated that for the average Singaporean, CPF savings will provide only a quarter of the funds he or she will need in old age.
Working out the financial shortfall

THE average Singaporean earns $50,000 a year. Financial planners say a good rule of thumb for retirement is to have savings of 10 times your annual income. Thus, the average Singaporean would need a lump sum of $500,000.

The CPF Minimum Sum will be raised to $120,000 from April, so the shortfall will increase to $380,000.

RELATED LINKS
Retirement calculator for Men
One bit of good news in the survey was that Singaporeans are among the world’s top savers. But experts warn that savings alone are not enough to plug the financial gap and achieve retirement goals.

This is because the low rates of return for savings mean they will not keep up with inflation - in other words, the real value of the lump sum will dwindle.

This means that a person who is not prepared to take risks is in reality taking on a much bigger risk of not being able to retire comfortably.
Making money work harder for you

TO MAKE matters worse, most Singaporeans also play it safe when investing for retirement, opting for low risks and low returns, the survey found.

Said Ms Annette King, AXA Life Insurance Singapore’s chief marketing and strategy officer: ‘Singaporeans should make their money work harder and take more risks. They may be able to retire earlier.’

Using an example of a 40-year-old with a $100,000 cash outlay for investments, she said that if he invests conservatively in pure fixed income instruments like bank deposits or kept monies with the CPF Board, the sum will have grown to $300,000 by the time he turns 70. The average return here is assumed to be 3.9 per cent.

But if the same investor puts his cash into a globally diversified portfolio of equities and fixed income, he will be much better off, with $2.9 million, based on annual returns of 11.9 per cent.
Lorna Tan
Source : Straits Times - 20 Jan 2008

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Mandatory MediShield - it’s not practical, says Khaw - Singapore

Mandatory MediShield - it’s not practical, says Khaw  - Singapore

There will always be some who will reject scheme. Minister points out over 90% of working adults already covered

By Jamie Ee Wen Wei

HEALTH Minister Khaw Boon Wan said there are practical difficulties in making the national health insurance scheme MediShield compulsory for all.
There will always be a small group who will refuse to be insured because they think they don’t need it, he said.

As it is, he said the opt-out scheme has been ‘quite effective’. Among working adults, more than 90per cent are already insured.

‘For a national system, once you have more than 90per cent, we are home free,’ he said.

Mr Khaw was responding to Madam Halimah Yacob’s suggestion to cover people beyond the age of 85 and to make the MediShield scheme compulsory, as means testing could hurt those uninsured even harder due to higher out-of-pocket payments.

Changing the level of subsidy for the middle-income group is not something that should be done in isolation, Madam Halimah, the head of the Government Parliamentary Committee for Health, said in her keynote speech at the 2nd International Conference of the Asia-Pacific Society for Healthcare Quality on Thursday.

Means testing by year-end?
‘The dialogues will continue, even though very few new ideas or new concerns are being raised because, if nothing else, it will facilitate implementation. So that when we actually implement it - I don’t know when, probably later part of this year - then people will have a fairly good idea of what this scheme is all about.’
HEALTH MINISTER KHAW BOON WAN, on how he will continue to address concerns on means testing as the ministry looks at implementation

Mr Khaw, in illustrating the difficulties of implementing a compulsory scheme, cited examples from Korea, Japan and Taiwan, which all have mandatory national health insurance. They, too, have not been able to achieve 100-per-cent coverage because of one difficult group - farmers.

‘How do you do it for the farmers? They just refuse to pay. What do you do? Send them to jail?’ he asked.

Still, the health minister said he is looking at ways to reach out to the 700,000 people here who are uninsured.

Last month, the Ministry of Health announced an automatic coverage for children - which translates to about 500,000 of those who are uninsured now.

Newborns, young children and those aged below 20 will all be insured, unless their parents take their children off the scheme.

As for the remaining 200,000 - mainly housewives - who are uninsured, MrKhaw said that ‘reaching out to the housewives is easy. It’s reaching out to their husbands, to get them to agree to sign on’ that may be difficult.

On extending the coverage to people beyond the age of 85, MrKhaw agreed it was something to look into as Singaporeans live longer. But there is no hurry as the number of people over 85 currently affected is small. ‘We will, as life expectancy grows, but I don’t think it’s urgent,’ he said.

Source : Straits Times - 20 Jan 2008

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Chinatown light-up gets off to a flying start

Chinatown light-up gets off to a flying start
CHINATOWN was aglow with lights yesterday after Senior Minister Goh Chok Tong launched the annual Chinese New Year light-up.
The highlight of the 90-minute celebration was the release of Kung Ming lanterns by Mr Goh and MPs Zainudin Nordin and Lily Neo.

The release of the lanterns is a symbol of good luck.

The event also saw a fireworks display and

148 strings of firecrackers go off from the top of People’s Park Complex. A massive lion dance display and dazzling wushu performances kept the crowds, which had thronged Eu Tong Sen Street, cheering with joy.

Asked what his wishes for the Chinese New Year were, SM Goh, replying in Mandarin, wished everyone ‘a smooth year ahead blessed with good health’.

In line with the Year of the Rat, this year’s street light-up and celebrations will feature, for the first time, Disney icons Mickey and Minnie Mouse.

Source : Straits Times - 20 Jan 2008

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The dome picked for Sports Hub - Singapore

The dome picked for Sports Hub - Singapore

By Jeanette Wang and Leonard Lim

KALLANG will have one of the world’s biggest domes dominating its landscape by the end of 2011, to replace the 35-year-old National Stadium.
The Singapore Sports Hub consortium has pipped two other groups for the right to build and run the Sports Hub for 25 years, it was announced yesterday.

The Government will pay the consortium $1.87 billion in all over this period. Led by construction firm Dragages Singapore, the consortium will bear the $1.2 billion capital expenditure.

Dr Vivian Balakrishnan, Minister for Community Development, Youth and Sports, hinted at what set the dome apart from the ‘horseshoe’ and ‘crumpled tissue’ designs of the contenders: its packed sporting calendar.

That accounted for 40 per cent of the ratings by the 11-member evaluation panel, which included Singapore Sports Council (SSC) representatives.

The minister acknowledged that Singaporeans might well query the $1.87 billion the Government was paying out for the Sports Hub.

Singapore needed an icon that would draw in top sporting talent, and create jobs and a lifestyle in sync with a sophisticated service economy, he said.

The stadium was ‘a piece of a much larger jigsaw’ which included the Esplanade, the building of the two integrated resorts and the development of Marina South.

‘This is an investment and this is money well spent,’ he told reporters gathered at The Ritz-Carlton hotel for the announcement of the winning design.

Asked to explain the initial price tag of between $650 million and $800 million, SSC head Oon Jin Teik said that this was based on the 2005 price index which had not accounted for a water sports centre for the new premises.

Besides the water sports centre and the 55,000-seater stadium, the Sports Hub project will also have 41,000 sq m of leisure, shopping and dining facilities.

Source : Straits Times - 20 Jan 2008

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Iridium - Singapore- District 11 - 21

Iridium - Singapore- District 11 - 21

In prime district 11 at Lincoln Road, Iridium conveys personal indulgence in city living, fine dining and shopping escapades to the smallest details. Besides United Square, Novena Square and Orchard Road being just as accessible, Iridium’s location also means good schools like St. Michael’s School, Anglo Chinese Junior School, Farrer Park Primary School, Chatsworth International and the Overseas Family School are close by.

The Sky Terrace with swimming pool is but one of the sexy facilities Iridium offers. Gym, Jacuzzi and LCD TV in master toilet in all units to enjoy while penthouses come with the extra edge - your private pool with sundeck.

Type A (3 bdrm - 1066sqft) Type B3 (2bdrm - 764sqft)
Type A1 (3 bdrm - 1066sqft) Type C (3bdrm - 1076sqft)
Type A1a (3 bdrm - 1173sqft) Type C1 (3bdrm - 1076sqft)
Type B (2 bdrm - 764sqft) Type D (4bdrm -1184sqft)
Type B1 (2 bdrm - 753sqft) Type D1 (4bdrm - 1249sqft)

Type B1a (2 bdrm - 915sqft) Type E1 (PH4bdrm - 2616sqft)
Type B2 (2 bdrm - 753sqft) Type E2 (PH 4bdrm - 2573sqft)

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

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VisionCrest Residence - Oxley Rise-Singapore - District 09-10

VisionCrest Residence - Oxley Rise-Singapore - District 09-10

Singapore’s Premium Freehold Address Living in such luxury is like being at the right place at the perfect time.

Nothing spells elegance like VisionCrest Residence. It is a resplendent retreat and haven within a truly unique environment.

For a start, you are surrounded by landscaped tropical gardens, with pools, waterfalls and tranquil areas. Fitness enthusiasts will love the state-of-the-art gym and tennis pavilion.

And for the children, their very own play area.

Enjoy a leisurely swim in the lap pool with its dramatic, horizon edge or soak in the therapeutic Jacuzzi. Be treated to an oasis of architectural bliss.

With so much convenience, life really is apleasure.

It’s all here. Shopping, dining, entertaining and financial institutions all within a stone’s throw from your home. Wine and dine in elegant pleasure, from local delights to fusion cuisine, Italian or Meditterranean. And at night, the picture of an exciting lifestyle is complete as Orchard area turns on a dazzling display of lights, sights and sounds to thrill the senses. From Plaza Singapura shopping centre right up to the finest hotels and world-class shopping centres.

Getting around couldn’t be more convenient with the Dhoby Ghaut MRT Interchange, a world-class transportation network, nearby. At VisionCrest Residence, you are truly in the right place at the perfect time with Orchard by your side.

Developer: Wing Tai Holdings Limited

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 )