For Sale District 22, D23, D24- Apartment / Condo, 21.03.2008

For Sale District 22, D23, D24- Apartment / Condo, 21.03.2008

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 — 22
Street — LAKEHOLMZ, BLK 82 #10
Tenure — 99
Area — 1238
Age — 01+
Room — 3
Psf — 630
PRICE$ — 780000
Type — C
District — 22
Street — LAKEPOINT CONDO, BLK 2 #02
Tenure — 99
Area — 2200
Age — 20+
Room — 3
Psf — 445
PRICE$ — 980000
Type — C
District — 22
Street — LAKEPOINT CONDO, BLK 2 #08
Tenure — 99
Area — 2217
Age — 25
Room — 3
Psf — 450
PRICE$ — 997650
Type — C
District — 22
Street — LAKEPOINT CONDO, BLK 2 #09 ABOVE
Tenure — 99
Area — 1884
Age — 20+
Room — 3
Psf — 403
PRICE$ — 760000
Type — C
District — 22
Street — LAKEPOINT CONDO, BLK 2 #12
Tenure — 99
Area — 3261
Age — 20+
Room — 5
Psf — 396
PRICE$ — 1290000
Type — C
District — 22
Street — LAKESHORE, TWR 2D #09
Tenure — 99
Area — 861
Age — BN
Room — 2
Psf — 790
PRICE$ — 680000
Type — C
District — 22
Street — LAKESHORE, TWR 2D #16
Tenure — 99
Area — 1109
Age — BN
Room — 3
Psf — 766
PRICE$ — 850000
Type — C
District — 22
Street — LAKESHORE, TWR 3B #05
Tenure — 99
Area — 1140
Age — BN
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — PARC OASIS, BLK 1 #09
Tenure — 99
Area — 1507
Age — 10+
Room — 4
Psf — 637
PRICE$ — 960000
Type — C
District — 22
Street — PARC OASIS, BLK 3 #03
Tenure — 99
Area — 1227
Age — 10+
Room — 3
Psf — 636
PRICE$ — 780000
Type — C
District — 22
Street — PARC OASIS, BLK 5 #20
Tenure — 99
Area — 1378
Age — 10+
Room — 3
Psf — 653
PRICE$ — 900000
Type — C
District — 22
Street — PARC OASIS, BLK 6 #06
Tenure — 99
Area — 1076
Age — 20+
Room — 2
Psf — 604
PRICE$ — 650000
Type — C
District — 22
Street — PARC VISTA, TWR 2 #04
Tenure — 99
Area — 1281
Age — 06+
Room — 3
Psf — 546
PRICE$ — 700000
Type — C
District — 22
Street — PARC VISTA, TWR 2 #07
Tenure — 99
Area — 1055
Age — 05+
Room — 2
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — PARC VISTA, TWR 5 #10
Tenure — 99
Area — 1249
Age — 10
Room — 2
Psf — 560
PRICE$ — 700000
Type — C
District — 22
Street — SUMMERDALE, BLK 2 #03
Tenure — 99
Area — 1216
Age — 07+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — SUMMERDALE, BLK 2 #12 BELOW
Tenure — 99
Area — 1399
Age — 07+
Room — 3
Psf — 500
PRICE$ — 700000
Type — C
District — 22
Street — SUMMERDALE, BLK 6 #04 ABOVE
Tenure — 99
Area — 1195
Age — 07+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — SUMMERDALE, BLK 8 #14
Tenure — 99
Area — 2050
Age — 07+
Room — 3
Psf — 512
PRICE$ — 1050000
Type — C
District — 22
Street — THE CENTRIS, BLK 65 #06
Tenure — 99
Area — 915
Age — BN
Room — 2
Psf — 732
PRICE$ — 670000
Type — C
District — 22
Street — THE CENTRIS, BLK 69 #07
Tenure — 99
Area — 1066
Age — BN
Room — 3
Psf — 657
PRICE$ — 700000
Type — C
District — 22
Street — THE CENTRIS, BLK 69 #10 BELOW
Tenure — 99
Area — 1442
Age — BN
Room — 4
Psf — 700
PRICE$ — 1009400
Type — C
District — 22
Street — THE CENTRIS, BLK 75 #06
Tenure — 99
Area — 915
Age — BN
Room — 2
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — THE CENTRIS, BLK 75 #07
Tenure — 99
Area — 1302
Age — BN
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — THE CENTRIS, BLK 75 #07
Tenure — 99
Area — 915
Age — BN
Room — 2
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — THE FLORAVALE, BLK 220 #05
Tenure — 99
Area — 1324
Age — 06+
Room — 3
Psf — 500
PRICE$ — 662000
Type — C
District — 22
Street — THE FLORAVALE, BLK 228 #10
Tenure — 99
Area — 1325
Age — 06+
Room — 3
Psf — 452
PRICE$ — 599000
Type — C
District — 22
Street — THE FLORAVALE, BLK 244 #07
Tenure — 99
Area — 1313
Age — 05+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 22
Street — THE MAYFAIR, TWR 7 #14
Tenure — 99
Area — 893
Age — 08+
Room — 2
Psf — 672
PRICE$ — 600000
Type — C
District — 23
Street — CASHEW HGTS, BLK 93 #02
Tenure — 999
Area — 1658
Age — 15+
Room — 3
Psf — 784
PRICE$ — 1300000
Type — C
District — 23
Street — CHESTERVALE, BLK 31 #13
Tenure — 99
Area — 1432
Age — 05+
Room — 3
Psf — 475
PRICE$ — 680000
Type — C
District — 23
Street — GLENDALE PK, TWR B #02
Tenure — FH
Area — 1044
Age — 06+
Room — 2
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — HAZEL PK, BLK 15 #01
Tenure — 999
Area — 1205
Age — 05+
Room — 2
Psf — 672
PRICE$ — 810000
Type — C
District — 23
Street — HAZEL PK, BLK 15 #04
Tenure — 999
Area — 985
Age — 07+
Room — 2
Psf — 832
PRICE$ — 820000
Type — C
District — 23
Street — HAZEL PK, BLK 17 #01
Tenure — 999
Area — 1205
Age — 06+
Room — 2
Psf — 737
PRICE$ — 888000
Type — C
District — 23
Street — HAZEL PK, BLK 21 #08
Tenure — 999
Area — 1334
Age — 06+
Room — 3
Psf — 675
PRICE$ — 900000
Type — C
District — 23
Street — HAZEL PK, BLK 25 #12
Tenure — 999
Area — 1517
Age — 07+
Room — 3
Psf — 824
PRICE$ — 1250000
Type — C
District — 23
Street — HILLBROOKS, BLK 88 #03 ABOVE
Tenure — FH
Area — 1100
Age — 09+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — HILLBROOKS, BLK 88 #06
Tenure — FH
Area — 1076
Age — 8
Room — 3
Psf — 780
PRICE$ — 839280
Type — C
District — 23
Street — HILLBROOKS, BLK 92 #09
Tenure — FH
Area — 1173
Age — 08+
Room — 3
Psf — 880
PRICE$ — 1032240
Type — C
District — 23
Street — HILLINGTON GREEN, BLK 45 #06 ABOVE
Tenure — 999
Area — 1356
Age — 05+
Room — 3
Psf — 959
PRICE$ — 1300000
Type — C
District — 23
Street — HILLINGTON GREEN, BLK 51 #10
Tenure — 999
Area — 2594
Age — 05+
Room — 4
Psf — 694
PRICE$ — 1800000
Type — C
District — 23
Street — HILLTOP GR, BLK 3 #01
Tenure — 99
Area — 1184
Age — 05+
Room — 2
Psf — 630
PRICE$ — 745920
Type — C
District — 23
Street — HILLTOP GR, BLK 3 #03 ABOVE
Tenure — 99
Area — 1240
Age — 06+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — HILLVIEW HGTS, BLK 27 #02
Tenure — FH
Area — 990
Age — 10
Room — 2
Psf — 705
PRICE$ — 698000
Type — C
District — 23
Street — HILLVIEW HGTS, BLK 27 #08 ABOVE
Tenure — FH
Area — 1432
Age — 10+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — HILLVIEW HGTS, BLK 29 #07 ABOVE
Tenure — FH
Area — 1200
Age — 10+
Room — 3
Psf — 833
PRICE$ — 1000000
Type — C
District — 23
Street — HILLVIEW REGENCY, TWR 2A #03
Tenure — 99
Area — 947
Age — 02+
Room — 2
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — HILLVIEW REGENCY, TWR 2A #10
Tenure — 99
Area — 1109
Age — 02+
Room — 3
Psf — 712
PRICE$ — 790000
Type — C
District — 23
Street — HILLVIEW REGENCY, TWR 2B #06
Tenure — 99
Area — 904
Age — 01+
Room — 2
Psf — 697
PRICE$ — 630000
Type — C
District — 23
Street — HILLVIEW RESIDENCE, #02
Tenure — 999
Area — 1280
Age — 05+
Room — 3
Psf — 695
PRICE$ — 889000
Type — C
District — 23
Street — HILLVIEW RESIDENCE, #06
Tenure — 999
Area — 1238
Age — 03+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — MAYSPRINGS, BLK 2 #08
Tenure — 99
Area — 1346
Age — 10
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — MAYSPRINGS, BLK 2 #09
Tenure — 99
Area — 818
Age — 10+
Room — 2
Psf — 694
PRICE$ — 568000
Type — C
District — 23
Street — MAYSPRINGS, BLK 6 #10
Tenure — 99
Area — 1302
Age — 09+
Room — 3
Psf — 576
PRICE$ — 750000
Type — C
District — 23
Street — MERAWOODS, CEDAR BLK #01
Tenure — 999
Area — 1615
Age — 8
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — MERAWOODS, CYPRESS BLK #01
Tenure — 999
Area — 1507
Age — 08+
Room — 2
Psf — 657
PRICE$ — 990000
Type — C
District — 23
Street — MERAWOODS, CYPRESS BLK #05
Tenure — 999
Area — 1346
Age — 08+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — MERAWOODS, MAPLE BLK #01
Tenure — 999
Area — 1346
Age — 08+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — MERAWOODS, REDWOOD BLK #02
Tenure — 999
Area — 1421
Age — 08+
Room — 3
Psf — 774
PRICE$ — 1100000
Type — C
District — 23
Street — MONTROSA, BLK 132A #03
Tenure — 999
Area — 1200
Age — 08+
Room — 3
Psf — 749
PRICE$ — 899000
Type — C
District — 23
Street — NORTHVALE CONDO, PAPILLON WING
Tenure — 99
Area — 1528
Age — 08+
Room — 4
Psf — 589
PRICE$ — 900000
Type — C
District — 23
Street — PALM GDNS, TWR 2 #17
Tenure — 99
Area — 1936
Age — 06+
Room — 3
Psf — 475
PRICE$ — 920000
Type — C
District — 23
Street — PALM GDNS, TWR 4 #16
Tenure — 99
Area — 1216
Age — 06+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — PARK NATURA, BLK 35 #04
Tenure — FH
Area — 1765
Age — BN
Room — 4
Psf — 1088
PRICE$ — 1920000
Type — C
District — 23
Street — REGENT GR, TWR A #08
Tenure — 99
Area — 1195
Age — 06+
Room — 3
Psf — 544
PRICE$ — 650000
Type — C
District — 23
Street — REGENT GR, TWR A #11
Tenure — 99
Area — 1259
Age — 06+
Room — 3
Psf — 548
PRICE$ — 690000
Type — C
District — 23
Street — REGENT GR, TWR B #03
Tenure — 99
Area — 1163
Age — 07+
Room — 3
Psf — 540
PRICE$ — 628000
Type — C
District — 23
Street — REGENT HGTS, TWR B #09
Tenure — 99
Area — 1023
Age — 06+
Room — 3
Psf — 614
PRICE$ — 628000
Type — C
District — 23
Street — REGENT HGTS, TWR B #20
Tenure — 99
Area — 1023
Age — 07+
Room — 3
Psf — 587
PRICE$ — 600000
Type — C
District — 23
Street — REGENT HGTS, TWR B #29
Tenure — 99
Area — 2594
Age — 05+
Room — 6
Psf — 686
PRICE$ — 1780000
Type — C
District — 23
Street — REGENT HGTS, TWR C #05
Tenure — 99
Area — 1023
Age — 07+
Room — 3
Psf — 635
PRICE$ — 650000
Type — C
District — 23
Street — THE DEW, BLK 32 #02
Tenure — 99
Area — 1206
Age — 03+
Room — 3
Psf — 493
PRICE$ — 595000
Type — C
District — 23
Street — THE DEW, BLK 32 #08
Tenure — 99
Area — 1204
Age — 03+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — THE ESPA, BLK 12 #02
Tenure — 999
Area — 1066
Age — BN
Room — 3
Psf — 880
PRICE$ — 938000
Type — C
District — 23
Street — THE ESPA, BLK 12 #05
Tenure — 999
Area — 1744
Age — BN
Room — 4
Psf — 860
PRICE$ — 1500000
Type — C
District — 23
Street — THE PETALS, BLK 89 #04
Tenure — FH
Area — 1044
Age — 05+
Room — 2
Psf — 669
PRICE$ — 698000
Type — C
District — 23
Street — THE WARREN, BLK 39 #05
Tenure — 99
Area — 1055
Age — 01+
Room — 2
Psf — 621
PRICE$ — 655000
Type — C
District — 23
Street — THE WARREN, BLK 39 #12
Tenure — 99
Area — 1227
Age — 02+
Room — 3
Psf — 611
PRICE$ — 750000
Type — C
District — 23
Street — THE WARREN, BLK 49 #12
Tenure — 99
Area — 1238
Age — 01+
Room — 3
Psf — 0
PRICE$ — 0
Type — C
District — 23
Street — WINDERMERE, BLK 26 #13
Tenure — 99
Area — 1453
Age — 08+
Room — 3
Psf — 474
PRICE$ — 688000
Type — C
District — 23
Street — YEW MEI GREEN, BLK 50 #08
Tenure — 99
Area — 1335
Age — 06+
Room — 3
Psf — 534
PRICE$ — 712890
Type — C
District — 23
Street — YEW MEI GREEN, BLK 52 #21
Tenure — 99
Area — 1572
Age — 07+
Room — 3
Psf — 477
PRICE$ — 750000
Type — C
District — 23
Street — YEW MEI GREEN, BLK 56 #19
Tenure — 99
Area — 2282
Age — 06+
Room — 3
Psf — 438
PRICE$ — 1000000
Type — C
District — 23
Street — YEW TEE RESIDENCES, BLK 23 #05
Tenure — 99
Area — 1195
Age — BN
Room — 3
Psf — 569
PRICE$ — 680000
Type — H
District — 22
Street — IVORY HGTS, BLK 124 #10
Tenure — 99
Area — 1680
Age — 17+
Room — 3
Psf — 595
PRICE$ — 1000000
Type — H
District — 22
Street — IVORY HGTS, BLK 124 #19
Tenure — 99
Area — 1700
Age — 20+
Room — 3
Psf — 588
PRICE$ — 1000000
Type — H
District — 22
Street — LAKESIDE TWRS, BLK 9G #09
Tenure — 99
Area — 1970
Age — 20+
Room — 3
Psf — 410
PRICE$ — 807700
Singapore Property Real Estate - Buy , Sell , Rent ,invest
MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Stamford Land’s deal to sell hotel portfolio falls through - Singapore

Stamford Land’s deal to sell hotel portfolio falls through  - Singapore
UP FOR SALE AGAIN: Stamford is not extending an exclusive agreement to sell its hotel portfolio to a large pension fund. For the sake of minority investors, Mr Ow says he has to consider offers from other parties. — ST FILE PHOTO
 
STAMFORD Land has declined to extend an exclusive agreement to sell its hotel portfolio for A$850 million (S$1.1 billion), it announced last night.
The agreement over the unsolicited offer had lapsed on March 7, but the potential buyer - a large pension fund with a portfolio of residential properties and hotels - wanted an extension.

Both parties entered discussions but Stamford Land said yesterday it had declined the request.

However, even though the deal fell through, Stamford Land got to keep a A$1.3 million non-refundable deposit.

‘As the group was not keen to sell, this unusual and onerous non-refundable deposit was demanded by the group and acceded to by the buyer,’ said Stamford Land’s statement.

Stamford Land said it had entered the exclusive agreement with the potential buyer as the A$850 million offer was at an ‘acceptable valuation’ and offered an option to unlock shareholder value.

Stamford Land - the hotel and property arm of shipping tycoon Ow Chio Kiat’s Hai Sun Hup Holdings - also said yesterday that it has received approaches from other parties keen to buy its portfolio of eight luxury hotels in Australia and New Zealand.

‘I feel very passionate about the hotel business because I built it up myself since 1994,’ Mr Ow, who is Stamford Land’s executive chairman, told The Straits Times.

‘But as the chairman of a public company, I have a fiduciary duty to consider the offers for the sake of minority shareholders.’

Mr Ow holds around 40 per cent of Stamford Land.

The mainboard-listed firm’s hotel portfolio includes Stamford Plaza outlets in Auckland, Adelaide, Melbourne and Sydney Airport.

This portfolio, which has a total net book value of approximately A$382 million, is its core business.

In its statement, the group said the high and continually rising cost of hotel development in Australia and New Zealand means it will not face much competition as there is unlikely to be an oversupply of room stock in the foreseeable future.

Stamford Land said its second core business - property development - has evolved from its initial foray into the hotel industry. The development and sale of luxury apartments has prospered and expansion is on the cards, it said.

Its property development portfolio, also based in Australia and New Zealand, includes The Stamford Marque, an 83-unit luxury residential development in Sydney.

Stamford Land said its property development arm is a growing core business. If its hotels are eventually sold, it said it would focus on increasing its investment in property development and return surplus funds to shareholders.

For the nine months ended Dec 31, Stamford Land had net profit of $21.9 million, down from $26.6 million in 2006. Revenue was $214.6 million, down from $229.2 million.

The hotels contributed $174.8 million to revenue, up from $146.6 million a year ago.

Yesterday, shares of the group closed one cent lower at 45 cents.

JOYCE TEO

Source : Straits Times  - 21 March 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

Allco Reit to get extension for $550m of debt - Singapore

Allco Reit to get extension for $550m of debt  - Singapore

By Joyce Teo, Property Correspondent 
 
AFTER failing in a legal bid to avoid a credit rating downgrade, Allco Commercial Real Estate Investment Trust (Reit) has received some good news.
The Reit has won in-principle approval for the extension of the maturity date for $550 million of debt by 17 months.

The due date of the debt will now be Dec 31, 2009, instead of July 31, this year, said the Reit manager Allco (Singapore) yesterday.

The Reit manager said in a statement that it is currently reviewing the terms and conditions of the extension and will execute binding documentation as soon as practicable.

Global ratings agency Moody’s had on Tuesday downgraded Allco Reit’s rating to Ba2 from Ba1.

It also said that further downgrades were possible. These ratings gauge a company’s credit standing.

A Ba-rated company is judged to have speculative elements and be subject to substantial credit risk, according to Moody’s definitions.

Allco Reit has been in the news lately as it had taken unprecedented legal steps to try to prevent Moody’s from downgrading its rating for the second time in two months.

The ratings agency had downgraded Allco by one notch from Baa3 to Ba1 on Jan 31.

Allco Reit wanted to avoid the second revision as a lower rating could complicate its efforts to raise funds.

This came amid a global credit crunch that has made it harder for companies to secure funding.

Court documents obtained by The Straits Times on Wednesday showed that Allco had felt that a $620 million bank refinancing deal could be jeopardised by a downgrade.

In its statement yesterday, Allco Reit also said that it will repay in full $70 million in debt due to mature on Nov 22, with the proceeds of its sale of the Allco Wholesale Property Fund.

The properties that Allco Reit owns include China Square Central and 55 Market Street in Singapore.

Source : Straits Times  - 21 March 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

Cash-rich companies buy back shares at low prices - Singapore

Cash-rich companies buy back shares at low prices  - Singapore

SIA, SembCorp and DBS spend millions; others stay aside in volatile market

By Goh Eng Yeow, Markets Correspondent 
 
THE plunging stock market is agony for investors, but some blue-chip companies see it as a rare opportunity to start buying back their shares.
Cash-rich Singapore Airlines (SIA), SembCorp Industries and DBS Group Holdings spent millions recently to buy back stock they see as languishing at bargain basement prices.

But even with the Straits Times Index at 16-month lows, other companies are sticking to the sidelines with their piles of cash, keeping their heads down while global financial markets lurch from one crisis to another.

Singapore Exchange and Neptune Orient Lines seem to have stopped buybacks in November after making huge purchases earlier last year, while OCBC Bank’s latest buyback was in September.

One trader said: ‘Companies are not keen to stand in the way of the falling knives. By sitting pretty on their cash, they also ensure that they have plenty of firepower to fight off any predatory funds that may be planning to mount a raid on their shares.’

But a Merrill Lynch survey of international fund managers on Wednesday shows that despite the global turmoil, investors are still keen to see their firms ‘returning cash’ through means such as share buybacks.

Buybacks mean fewer shares on the open market, which can help to reduce any selling pressure in the sort of bearish market holding sway now.

They also help a company increase its return on equity - which measures profitability across firms in the same industry - as the profit is divided among fewer shares.

Singapore firms have more leeway with buybacks these days. A decade ago, they could only watch helplessly as their share prices plunged, but now, they can buy back up to 10 per cent of their outstanding stock every year, after getting shareholder approval.

They can either cancel the shares they have bought back or keep them as ‘treasury’ shares to reward staff.

Many companies are sitting on a tidy pile of cash after a bumper 2007.

SIA has $4.2 billion on hand, SembCorp Industries has $1.3 billion in cash and fixed deposits, while SembCorp Marine has $214 million in cash and $527 million in fixed deposits.

And unlike financial institutions elsewhere, Singapore banks are in the pink of health. Just before the sub-prime crisis erupted in August last year, DBS bolstered its capital base with a US$2 billion (S$2.7 billion) debt issue in May.

United Overseas Bank (UOB) and OCBC have plenty of surplus cash, as their capital bases are well above the threshold required by the Monetary Authority of Singapore.

Shareinvestor.com data shows that the biggest buybacks in the past four weeks have been made by SembCorp Industries, SembMarine, SIA, UOB and DBS.

In four deals between March 14 and March 19, SIA bought 1.54 million shares priced between $13.92 and $14.64 apiece.

SembCorp Industries bought 2.99 million shares priced from $3.921 to $4.28 apiece between March 5 and March 17, while SembMarine purchased about 20 million shares priced from $3.30 to $3.76 apiece between Feb 25 and March 13.

DBS has snapped up 155,000 shares priced between $16.90 and $18 each since last month, bringing its total purchases since last April to 1.56 million shares.

UOB has bought 18.32 million shares for $360 million since last April.

Its latest purchase was made on Feb 29 when it bought 133,000 shares priced between $18.06 and $18.24 apiece.
Source : Straits Times  - 21 March 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

Works to start soon to widen Singapore Ang Mo Kio section of CTE

Works to start soon to widen Singapore Ang Mo Kio section of CTE
 
Addition of a lane in each direction is first phase of upgrade plan

By Christopher Tan, Senior Correspondent 
 
THE first phase of a plan to widen the Central Expressway (CTE) - arguably Singapore’s most congested highway - has kicked off with the award of a contract worth $16.9 million.
Local construction firm Or Kim Peow Contractors, which won the deal, will start work soon on widening the CTE between Ang Mo Kio avenues 1 and 3 by adding a lane in each direction along the 1.5km stretch.

Work is expected to be completed by the end of next year.

The plan to widen the CTE also calls for turning a 7km stretch of the expressway into a four-lane road in each direction. It will take up to 2011.

The project - outlined by Transport Minister Raymond Lim in January as part of a sweeping Land Transport Review - is the most extensive improvement to the CTE since it opened 17 years ago.

Commenting on it, Land Transport Authority chief executive Yam Ah Mee said: ‘Given the importance of the CTE as a link between the city and estates such as Ang Mo Kio, Hougang, Sengkang, Yishun and Punggol, this round of improvements will increase the capacity of the expressway to continue to meet the needs of the north-east corridor.’

Residents in the north reckon it is about time.

Motorist Adrian Wang, 48, who lives in Yishun and has been avoiding the CTE ‘for a long time’, welcomes the move.

The warehouse manager - who has been taking the longer but smoother Mandai-Bukit Timah-Clementi route to his workplace in Pasir Panjang - said he will consider using the expressway again if the widening project cuts down on travelling time.

‘But it’s a long time from now,’ he said, referring to the 2011 completion. After it is widened, the CTE’s capacity is expected to increase to around 9,000 vehicles an hour in each direction - from about 7,200 now.

Meanwhile, other new roads will cater to the northern and north-eastern areas of Singapore, where the number of homes is expected to rise by 50 per cent to nearly 500,000 in the next decade or so.

These include the Kallang- Paya Lebar Expressway - which will open fully in September - and the North-South Expressway, which is due in 2020.

Both are largely underground expressways.

Source : Straits Times  - 21 March 2008

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Agents offering illegal Singapore CPF cash rebates resurface

Agents offering illegal Singapore CPF cash rebates resurface 

Ads which claim falsely to share commissions with investors make comeback - in a different guise

By Hong Xinyi 
AMBIGUOUS: The ads use tags like ‘best returns’ and ‘maximum potential’ for CPF investments. — ST PHOTO: JOYCE FANG
 
BEFORE you commit your Central Provident Fund (CPF) savings to agents promising ‘maximum returns’ and ‘the best deal in town’, consider this: You might be falling foul of regulations.
To entice you to sign up, some agents are offering cash rebates, ranging from 1 to 1.5 per cent of your investment capital, which they say is taken from their own commission.

What this really means: When you use your CPF savings to invest, charges such as agent commissions are deducted from your CPF accounts.

So the cash rebate you are receiving from this deal essentially amounts to an early withdrawal and possible erosion of your CPF savings.

There is another problem as well. Receiving direct cash rebates from your CPF investments is forbidden under CPF Board regulations.

Instead, all gifts and rebates under the CPF Investment Scheme (CPFIS) should be converted to cash or bonus units and refunded to your Ordinary and Special accounts.

Such advertisements have appeared in the past, but agents are now relying on subtle shifts in language to fly under the radar.

When they first appeared several years ago, the ads screamed ‘instant cash’. This led to warnings against the agents.

Now, similar ads have resurfaced, this time using tags such as ‘best returns’ and ‘maximum potential’.

In response to queries, the CPF Board said that product providers under CPFIS are well aware of the rule.

Said a spokesman: ‘Agents who violate this rule would risk facing disciplinary action, from being issued with warning letters from the product providers to being suspended or even having their services terminated.’

Mr Seah Seng Choon, executive director of the Consumers Association of Singapore, advised consumers to be cautious of the ‘generic nature’ of these ads - they often make vague claims, offer only mobile phone numbers and do not include company names.

Checks with several agents revealed how the scheme works. The minimum sum required for investment ranges from $2,000 to $10,000, and all the agents push investments in unit trusts.

When asked about the ‘high returns’, the agents said that by sharing their commissions with investors, they can give cash rebates of between 1 and 1.5 per cent of the investment capital.

When asked which companies they worked for, the agents replied that they were ‘middlemen’, ‘introducers’ or ‘brokers’ for companies such as Aviva, Prudential and AIA.

All refused to give their full names.

Mr Leong Sze Hian of the Society of Financial Service Professionals said the ads target those who are cash-strapped.

He said such people ‘must realise that when the focus is on getting cash rebates every month, their CPF savings may be eroded over time’.

Factory worker Mary (not her real name), 32, is one of those who succumbed to the lure of instant cash.

Needing money to pay for her parents’ nursing- home fees last November, she jumped at the chance of getting some extra cash. She signed documents that transferred $39,000 of her CPF savings into unit trust investments and got $200 cash in return.

Mary said she was unaware of the CPF Board regulation prohibiting rebates.

In any case, she said, she really needed the cash.

‘My thinking was, the CPF money was just being left there anyway and I’m not sure if I will live until I’m 60.’
 

Source : Straits Times  - 21 March 2008

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Treatments doctors can and cannot offer - Singapore

Treatments doctors can and cannot offer  - Singapore
 
TREATMENTS which all doctors have been banned from performing:

Mesotherapy: A non-surgical procedure which involves making microinjections into the middle layer of skin. It claims to break down fat, and improve circulation and lymphatic drainage.

Carboxytherapy: This non-surgical procedure, similar to mesotherapy, infuses carbon dioxide through a tiny needle. The process is said to kill fat cells and stimulate blood flow.

Endermologie: A non-invasive deep-tissue massage performed with a machine to reduce cellulite. The procedure claims to break down fat, water and toxins so that these can be drained away by the body’s lymphatic system.

Microneedling dermaroller: A hand-held rolling pin, used to make microscopic punctures, is run over the skin. The procedure claims to induce the production of new collagen, and smooth out scars and wrinkles.

Skin-whitening injections: These claim to reduce blemishes like acne, chicken pox and other scars, and to iron out wrinkles.

Growth hormone to ‘combat ageing’: The hormone testosterone is administered either through injections or creams applied to the skin, and followed up with human growth hormones delivered through micro-injections.

Stem-cell application for skin rejuvenation: Patients undergoing this treatment consume a protein extract which claims to regenerate ageing tissue by using protein or chemical messengers to send signals to cells to ‘teach’ them to regenerate.

Vacustyler: A patient undergoing this treatment puts his or her lower body in a chamber, which claims to stimulate the lymphatic system and improve circulation. The procedure claims to eliminate cellulite, varicose veins and other leg problems.

Slidestyler: Working the same way as a vacustyler, this uses a mechanical gliding stroke massage technique to ‘improve lymph circulation’. The patient is hooked up to a machine which sends pressure waves over the body. It is claimed that the waves are able to decongest the body, improve lymph drainage and tackle cellulite, varicose veins and other leg problems.

Bio-resonance: Patients undergoing this are bombarded by electro-magnetic waves delivered by a machine. The treatment claims to help patients overcome addictions like smoking.

Colonic cleansing for ‘detoxification’: This procedure involves introducing a tube into the rectum to flush the colon with water. It claims to reduce food intolerance, improve the skin, reduce cellulite, raise energy levels, reduce weight and enhance immune function.
AESTHETIC treatments that doctors can do:
Botox injections: These are administered around the eyes or mouth to banish wrinkles temporarily.

Collagen/filler injections: These are administered to plump up the lips and reduce the appearance of sunken eyes.

Intense pulsed light: The treatment involves targeting the skin with light of different wavelengths to ‘rejuvenate’ skin or remove hair.

Thermage: This procedure heats the collagen in the deeper layers of the skin to tighten sagging skin.

Chemical peels: Chemicals are applied to remove the fine outer layers of skin.
JESSICA JAGANATHAN

Medical note

The Singapore Medical Council Ethical Code and Ethical Guidelines, Article 4.1.6 reads:

‘A doctor shall not in his professional capacity support the services provided by persons or organisations that do not provide legitimate medical or medical support services, for example, beauticians, beauty parlours, health spas, colonic cleansing services, etc.’
 

Source : Straits Times  - 21 March 2008

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GPs unhappy with Singapore MOH move

GPs unhappy with Singapore MOH move 

Doctors who offer aesthetic treatments want more transparency from MOH regarding its decision

By Jessica Jaganathan 
 
DR DAVID Eu is looking for a buyer for his $45,000 bioresonance machine.
He has been using it to deliver electromagnetic waves to between 20 and 30 patients over the last 1-1/2 years. He said they overcame their allergies and addictions as a result.

He was even scouting around for a clinic to focus on bioresonance therapy when the Ministry of Health (MOH) dropped its bombshell about banning doctors from offering this and other unproven aesthetic treatments.

Dr Eu reckons he will go back to treating patients for garden-variety coughs and colds - or migrate to Australia with his machine.

Expressing surprise at the suddenness of the ban, he said it may not stop such treatments from being carried out, since beauty salons can still offer them, ‘and they are not even regulated’.

Like him, some other doctors have already fallen in with MOH’s ban and are considering a return to mainstream medicine.

But even as these doctors tot up the losses from their investments in equipment, clinic space and building up a clientele, others say they will keep up with what they are doing until they get a letter from MOH telling them to stop.

Most, however, disagree with the ban and hope to see more transparency from MOH regarding its decision.

Dr Sylvester Yong, a general practitioner (GP) who has been performing 14 to 16 colon cleanings a month, said he intends to continue doing so.

Defending it as a treatment for medical conditions like constipation and indigestion, he said: ‘It all depends on how you do it - the professional way, or with a spa-like approach.’

Another GP is in despair over the ban.

She moved to a swanky new clinic in Orchard Road only last October to specialise in aesthetic medicine, and has seen 40 patients a month for carboxytherapy and microneedling. The former claims to be a fat-busting procedure through infusions of carbon dioxide, while the latter is supposed to reduce scars.

Declining to reveal her expected losses, she said she may have to start recommending other allowed treatments to her patients. Those who want carboxytherapy, for instance, might well go for laser liposuctions as an alternative.

She said she may go back to being a GP - what she was for 21 years before her switch to offering aesthetic treatments.

Other doctors are taking a wait-and-see tack, and hoping for more information before they decide what to do.

Dr Roy Chio, who has been performing mesotherapy and carboxytherapy since 2000, said: ‘I agree that some of these treatments are questionable, but things like mesotherapy have been proven to be very effective in France.’

He urged the ministry to evaluate all relevant documentation and consult doctors before deciding to impose an outright ban.

He added that practitioners like him who have been doing these treatments from the start have ‘notes to prove that they work’.

Among the majority of doctors who disagree with the ban is one who has been doing endermologie for three years.

Declining to be named, he argued: ‘Singapore wants to be a world-class medical hub, but if you regulate everything that doctors do, why would tourists want to come to Singapore - for tablets they can get elsewhere?’

Another, Dr Erwin Kay, who has been doing bioresonance therapy for the past two years, said the ban was not the solution, and cited traditional Chinese medicine as a practice that lacked clinical data but yet had acceptance.

For at least eight clinics that The Straits Times visited, it was business as usual, and brochures and advertisements on the banned treatments were still available.

One GP who received an MOH letter said he will continue offering the one outlawed treatment he has been performing for now because ‘my patients depend on it’.

‘Besides, who’s to stop them from going to quacks or beauty salons for dubious treatments that might not be handled properly?’ he asked.

Source : Straits Times  - 21 March 2008

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Home makeovers hard hit by price hikes - Singapore

Home makeovers hard hit by price hikes  - Singapore

Spike in building material prices, labour crunch pushing renovation costs up by 20% this year

By Jessica Cheam 
ESCALATING PRICES: The cost of reinforcing steel bars has increased by about 60 per cent in the span of one year, while cement prices have gone up by 30 per cent. — ST PHOTO: DESMOND LIM
 
PLANNING to renovate your home? If so, be prepared to pay 20 per cent more.
Construction costs - for both big projects and home renovations - have risen due to a rise in raw material prices and labour costs. And they are expected to increase even more this year.

Industry experts say overall construction costs are expected to rise by another 15 to 20 per cent this year - following a 40 per cent spike in the last two years.

A global spike in raw material prices, and a construction resources and manpower crunch here, are to blame for the relentless rise, say market players.

In particular, prices of reinforcing steel bars - used extensively in construction - have soared 64 per cent from $753 per tonne in January last year to $1,235 this January, according to data from the Building and Construction Authority (BCA).

Rising global demand for steel, fuelled by a building boom in developing countries such as China, India and Vietnam, is pushing prices up sharply.

The price of cement rose 30 per cent to $117 per tonne in the same period.

Consumers’ pockets are hard hit by the price hikes. Contractors say home owners now have to fork out up to 20 per cent more for renovation works.

Renovating a 110 sq m five-room HDB flat, for example - which would have cost $80,000 at most at the start of last year - would now mean forking out $100,000, said contractor Steven Koh, 51, of Colorado Design.

But there is good news: the extra cost of building a new home is unlikely to be passed on to flat buyers.

Real Estate Developers Association of Singapore executive director Chia Hock Jin said developers cannot simply pass on the costs: ‘It’s the market that determines the prices.’

Given the recent cooling of the property market, price hikes for homes are also unlikely.

Local developer Frasers Centrepoint Homes said it has partly absorbed the rising costs and has also tried to mitigate them by adopting more efficient ways of building and securing raw material in bulk.

Construction costs typically make up 20 to 25 per cent of the total cost of a development, with the bulk coming from land cost, said Mr Seah Choo Meng, executive chairman of quantity surveying firm Davis Langdon & Seah Singapore.

Meanwhile, main contractors are starting to feel the pinch, with price rises eating into their profit margins. Wacon Construction & Trading, hired for a $5million spruce-up of MacRitchie Reservoir, was recently reported to have gone bust due to the hikes in raw material prices.

Mr Simon Lee, executive director of the Singapore Contractors Association Limited, said contractors had only a small margin in factoring such rises into building tenders.

One source of relief is the stabilising prices of sand, granite and concrete. BCA’s latest data show prices of these materials are easing, after an artificial spike following Indonesia’s abrupt ban of land sand exports last February. Still, compared to January last year, these prices have escalated and, in some cases such as sand, even doubled.

Mr Lee said there was concern that developers were slow in paying contractors, especially those affected by the sand ban, which might exacerbate contractors’ cash-flow problems.

Mr Seah said he does not expect the construction crunch to abate, predicting that constructing demand will go up to $27 billion this year.
 

Source : Straits Times  - 21 March 2008

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SingTel scores Uefa soccer rights - Singapore

SingTel scores Uefa soccer rights  - Singapore

WANT to catch Steven Gerrard in action in Europe? From next year, you will have to do it on SingTel.
The telco scored the latest goal in the ongoing pay-TV battle with rival StarHub by securing exclusive media rights to football’s Uefa Champions League and Uefa Cup from next year to 2012.

So, to watch those matches after August next year, fans will have to subscribe to SingTel’s new mio TV service. Champions League matches are now shown on ESPN StarSports’ channels 23 and 24 on StarHub’s cable TV service.

The change might mean having to get another set-top box to watch Champions League and Uefa Cup matches in future.

Pricing details have not been worked out yet, but there are some costs new subscribers to mio TV would have to bear.

SingTel telephone subscribers can expect to make a one-time payment of about $117 for installation and the purchase of a phone modem.

There is also a minimum $16.05 (with GST) which SingTel regulates a subscriber must spend monthly on TV channels.

Individual mio channels now cost $4.28 to $14.98 a month, according to the SingTel website.

With European games usually kicking off at 2.30am or 3.30am here, a SingTel spokesman said mio TV’s on-demand feature will let fans watch matches at their convenience later in the day.

SingTel plans to show the games both live and on-demand via mio TV, and on the Internet through its Ideas portal.

There are about 27,000 subscribers to its fledgling TV service. StarHub has an estimated 500,000 subscribers.

Last year, SingTel lost out in a bidding war to StarHub for rights to arguably the crown jewel of pay-TV - the English Premier League football games.

Source : Straits Times  - 21 March 2008

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