Missing owners’ Singapore condo unit sold for $1.6m

Missing owners’ Singapore condo unit sold for $1.6m 

By Joyce Teo, Property Correspondent 
 
AN UNUSUAL auction of an apartment at King’s Mansion off Tanjong Katong Road has attracted strong bidding - driving up the sale price to $1.59 million, well above expectations.
The condominium’s management corporation had taken the rare step of selling the three-bedroom property after the owners had disappeared for more than a decade.

The auction, conducted on Wednesday, came after the foreign owners had failed to pay property fees, which could have run up to $30,000 or more.

The management corporation had tried repeatedly to get in touch with the four owners and their lawyers - but to no avail.

The sale price was considered fairly strong in a generally weak auction market, analysts said.

The starting bid for the freehold 1,604 sq ft high-floor unit was $1.18 million, which was within the guide price of $1.1 million to $1.2 million.

Five bidders chased the price up, with a local businessman succeeding in buying the unit at $1.59 million, said Knight Frank’s auctioneer, Ms Mary Sai.

This price works out to about $991 per sq ft (psf), considerably higher than the starting bid of $735 psf.

A somewhat larger unit at King’s Mansion, at 1,808 sq ft, sold for $1,106 psf a few months back, according to a caveat lodged in February.

After deducting fees and other expenses, such as costs associated with arranging this week’s auction, the management corporation is expected to keep the rest of the money in a trust for the owners.

Mystery surrounds why the owners departed the scene and why they have failed to make themselves known despite publicity prior to the auction.

If they ever do reappear to claim the balance of the sale proceeds, it is likely they will make a tidy profit.
Source : Straits Times  - 03 May 2008

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Workers’ Party and NTUC spar over foreign workers - Singapore

Workers’ Party and NTUC spar over foreign workers  - Singapore

By Sue-Ann Chia 
 
THE Workers’ Party (WP) and the labour movement engaged in a battle of words over the issue of foreign workers yesterday.
The exchange had been sparked by labour MP Seng Han Thong’s criticism on Thursday of the opposition party’s May Day message.

It had questioned if Singaporeans ‘truly benefited’ from the job boom, as six in 10 new jobs had gone to foreigners.

Mr Seng, assistant secretary-general of the National Trades Union Congress (NTUC), said Singapore has to take a pragmatic approach to the issue.

He also challenged the WP to match its words with deeds, by ensuring the town council it runs in Hougang does not hire any foreigners.

Yesterday, the WP responded and said all the staff members in the town council are Singaporean.

However, it was quick to add that it recognises the contribution of foreign workers and is not against their employment.

For instance, Hougang Town Council does not object to its contractors deploying foreign workers in the estate, the WP said in a statement signed by its organising secretary Yaw Shin Leong.

It also reiterated its views on foreigners.

‘The issue here is not of foreign workers’ employment per se but rather how the Singapore Government and the labour movement will ensure that the dignity and societal position of Singaporean workers are not compromised,’ it said.

The Government’s attitude, it added, should be to put Singaporeans first and ‘resist any erosion of Singaporeans’ societal standing’.

‘It is the Government’s responsibility to show compassion for the plight of workers facing the pressure of high inflation,’ the WP said.

Later, Mr Seng retorted: ‘The Workers’ Party has shifted its position on the issue on foreigners. The WP had implied earlier that foreigners are breaking the rice bowls of Singaporean workers.

‘If WP truly believes in helping Singaporeans, then it should offer all of its work to Singaporeans and not allow its contractors to employ foreigners.’

He also said that, as far as NTUC is concerned, ‘the societal position of Singaporeans has never been in question’.

‘Nonetheless, we believe all workers should be treated with dignity. Hence, we believe in taking an inclusive approach that would make Singapore an inclusive society.’

Source : Straits Times  - 03 May 2008

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Fare cheats to be fined $20 from July - Singapore

Fare cheats to be fined $20 from July  - Singapore

Harsher penalties for misusing concession cards too

By Hong Xinyi 

FARE cheats could be in for one expensive ride from July 1, when new penalties imposed by the Public Transport Council (PTC) kick in.
Aimed at making fare evaders and those who misuse concession cards feel the pinch, the new penalties could help stem the $9 million in fares bus operators lose each year, according to 2005 statistics.

Commuters caught not paying or underpaying when using buses and trains will have to pay a penalty of $20, while those caught misusing concession cards - using stolen or expired cards, for example - will pay a penalty of $50.

The $20 penalty is about 10 times the maximum cash fare a person ordinarily would have paid.

Today, a commuter who avoids payment by not tapping his ez-link card at the entry reader when boarding a bus, or who underpays by tapping his ez-link card at the exit reader several bus stops before alighting, simply has to pay up the evaded fare.

The same goes for cash-paying commuters who intentionally pay for a shorter journey than they intend.

A SERIOUS PROBLEM
‘Transitlink had estimated earlier that there are 42,000 cases of fare evasion on public buses every day, translating to an annual figure of about $9 million. This is not a small sum and is unfair to the bulk of commuters who pay the correct fare.’
MS TAMMY TAN, vice-president of corporate communications for SBS Transit
 
A spokesman for the PTC said commuters who commit more serious offences, like using cards that have been tampered with or stolen, face a harsher penalty of $50.

Failing to pay the penalties can result in fines of up to $1,000 for the first offence, or $2,000 and up to six months in jail for repeat offences.

This is the first time that fare evasion penalties have been introduced for public buses. For trains, though, a fine of $50 has been in place for fare evasion since 1987, under the Rapid Transit Systems Act since 1987.

From July, the same penalties will now extend to both forms of public transport.

Imposing penalties on dishonest bus commuters was first proposed as an amendment to the Public Transport Council Act in 2005, when TransitLink estimated there were an estimated 42,000 cases of fare evasion on public buses every day.

For trains, there are an average of 105 cases of fare evasion every month, said a spokesman for SMRT.

Public transport operators SMRT and SBS Transit do not plan to increase the number of inspectors in order to catch out more cheating commuters.

The random spot checks they already do will continue, both said, adding that their inspectors also respond to alerts from drivers who spot dishonest passengers.

Said Ms Tammy Tan, vice-president of corporate communications for SBS Transit: ‘Fare evasion is, unfortunately, a serious problem in Singapore. This is unfair to the bulk of commuters who pay the correct fare.’
Source : Straits Times  - 03 May 2008

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Rice and cooking oil lead price rise - Singapore

Rice and cooking oil lead price rise  - Singapore

New Case survey of prices across retailers points out cheaper options to buyers

By Jessica Lim 

LOADING up the shopping cart is getting to be an increasingly expensive exercise, going by price checks conducted by the Consumers Association of Singapore (Case) over a two-month period.
Yes, the price of rice is going up. But so too are the prices of cooking oil and other items such as instant noodles.

Consumers who buy premium brands face the steepest increase, compared to those who pick products packaged by the supermarket chains.

The price of a 10kg bag of Royal Umbrella fragrant rice jumped 44 per cent - from $18.65 in March to $26.80 last month.

The house brand version of rice jumped too, but by less.

The FairPrice brand of fragrant rice, for example, increased from $5.75 to $6.50 per 5kg bag, an increase of 13 per cent.

Cooking oil has also become more expensive. The Knife brand of cooking oil jumped by 56 per cent - from $13.20 to $20.60 from March 1 to April 28.

Case’s price checks covered eight major supermarket chains and looked at 21 essential items, including household products such as toilet rolls and baby diapers. The prices include the discounts and promotions at the time when checks were done.

This is the first of monthly price surveys which will be published on the Case website, www.case.org.sg.

Case president Yeo Guat Kwang said they would help the lower-income group on ‘where to get food at the lowest possible price’.

Its survey showed that NTUC FairPrice had the highest number of cheapest items, ranging from shower foam and dishwashing detergent to canned pork luncheon meat and eggs.

The island’s biggest supermarket chain with 80 stores, it is also the only one with uniform pricing across its outlets.

Jasons Marketplace at Raffles City has the lowest prices for only bread and salt, while Carrefour at Suntec City stocks the cheapest items for soap and diswashing detergent.

The prices of staple foods have been rising globally, driven by increasing demand from China and India and crop failures, among other things.

In Singapore, the Consumer Price Index rose 6.7 per cent in March compared with the same period last year. Food prices, which comprise 23 per cent of the index, rose 7.6 per cent.

Consumers can save money if they shopped around, Case said, noting that there were variations in prices across supermarkets, even for the same item.

The price of a 750ml bottle of Pantene Shampoo Hairfall Control can go from $8.50 at Sheng Siong supermarket in Tekka Mall to $12.80 in Jasons Marketplace at Raffles City.

A spokesman for the Cold Storage Group of Supermarkets, which oversees Cold Storage and Jasons Marketplace among others, said that their supermarkets ‘cater to different segments of customers from locals to expatriates’.

Differential pricing of products is ‘common among retailers worldwide’ as each store has to take into account operating costs and rentals.

Nurse Loo Min Min, 29, is one consumer who compares prices at two or three stores before buying her groceries.

‘I don’t mind walking farther to compare prices at different supermarkets to get the cheapest products.’
Source : Straits Times  - 03 May 2008

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House brands fly high as inflation bites - Singapore

House brands fly high as inflation bites - Singapore

Known brands turn to R&D in a bid to fight back
By SARA LIM
(SINGAPORE) House brands are now big business for local supermarkets as consumers hunt down less expensive options in these inflationary times.
According to supermarkets like NTUC FairPrice and Cold Storage, which develop and manage their own in-house retail brands, house brand products have been well received as a lower priced alternative to more expensive ‘branded’ items.

FairPrice reported a sales increase of about 25 per cent in its house brand products since it launched the 5 per cent discount on 500 of such items in December last year.

Cold Storage’s No Frills and First Choice brands saw a 10 to 20 per cent increase in sales last year.

Prospects for house brands were so promising that budget supermarket Sheng Siong started producing its own brand in August last year, with ‘very satisfactory’ sales so far.

The price difference between house brand versions of household necessities and their branded counterparts can range from 10 to 100 per cent.

According to a recent grocery price survey done by the Consumers Association of Singapore (Case), a 5 kg unit of the popular Royal Umbrella brand of rice costs $13.40 as of April 30, compared to a range of $4.94 to $6.95 for a 5 kg sack of rice from the house brands.
 
Despite the rising popularity of house brands, the established names insisted that they were holding their own.

Premium mineral water brand, Evian, said it has not seen a major drop in sales as its core consumer base has remained strong though consumers on the ‘fringe’ might have switched to other brands.

A 1.5 litre bottle of mineral water by a premium brand like Evian costs three times as much as a similar bottle by NTUC FairPrice.

‘Evian caters to a specific target market that puts a premium on the types of products they consume. This market appreciates the essence of the brand and is prepared to pay the price for the benefits that it delivers,’ said a spokesperson for Evian.

Nestle, the food manufacturer behind the ubiquitous Milo, Nescafe and Maggi brands, said that sales have not slipped.

‘Despite pressures on food expenditure, consumers are willing to pay for superior, high quality food products. They choose Nestle as we offer innovative products of the highest quality, taste and convenience,’ said a spokesperson for Nestle Singapore.

Retailers of house brands say that the benefits of a branded item are only perceived and vague, and that in-house products are not inferior in quality.

‘As Singapore’s largest supermarket retailer, we enjoy economies of scale. There are minimal advertising and promotion costs on our house brand products, hence we are able to pass on these cost savings to consumers,’ said Tng Ah Yiam, director of integrated purchasing of NTUC FairPrice.

However, Anthony Tan, general manager of consumer and office business, 3M Technologies Singapore argued that ‘buying a quality item at a higher price translates into more time and money savings’.

To remain relevant to consumers, many established brands are expanding their R&D budgets to innovate with their products.

‘Being a technological powerhouse, 3M can draw on its arsenal of abrasive technologies to bring the most effective solutions to the home. That’s something not any Tom, Dick or house brand can do,’ said Mr Tan of 3M.

Nestle, which spends US$1.6 billion worldwide annually on R&D, discovered from extensive taste tests and surveys that Singaporean consumers now prefer ‘lighter, more nutritious and healthier’ food.

In response to the findings, it developed a range of Healthier Choice products endorsed by the Health Promotion Board.

‘Our Healthier Choice products have enjoyed sales growth of between 10 and 20 per cent and accounted for 35 per cent of sales turnover last year,’ said Nestle’s spokesperson.

Products like the new Maggi instant noodles which are said to contain 93 - 96 per cent less fat, no trans fat and no added MSG, are targeted at the health-conscious crowd, which might also be less price-conscious.

The battle is simmering as house brands brush up on their packaging, quality and product range to win more converts.

‘Our house brand products are now developed professionally by Cold Storage, no different from the way an established brand is developed. Our house brands carry the assurance of our retail banner and we work doubly hard to ensure and maintain quality and consumer satisfaction,’ said Cold Storage’s spokesperson.

FairPrice, which now has more than 2,000 house brand products priced ‘at least 10 per cent lower than comparable national brands’, plans to increase its stable of products to 3,000 within the next five years, ‘to meet increasing consumer demand’.

The consumer can only stand to win.
Source : Business Times  - 03 May 2008

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The specialist route to headhunting talent-Singapore

The specialist route to headhunting talent-Singapore

Recruitment experts speak the lingo of the client and know the market
By LEE U-WEN
(SINGAPORE) The ongoing war for talent is not just being fought between employers. Even recruitment firms are re-inventing themselves to steal a march on the competition.
Increasingly, they are setting up dedicated units - in some cases even spin-off companies - that hire solely for specific industries, with the engineering, financial and information technology (IT) sectors leading the way.

While there are no recent figures available on how many recruitment companies are operating in Singapore, human resource experts put the number at roughly 1,000 - and say it is growing.

The Singapore Human Resources Institute (SHRI) - the only non-profit HR body in Singapore - now represents more than 3,000 HR professionals, an increase of about 15 per cent from last year, says executive director David Ang.

In the specialisation stakes, employment services firm Manpower Singapore has a team trained to find engineering talent with specific skills for different lines, such as oil and gas, construction, marine, chemical and bio-processing.
 
The company’s general manager for Singapore, Rosa Goh, told BT: ‘Our engineering consultants source all levels of skills to cater to the specific needs of clients. Our clients benefit because there is one line of contact for all jobs related to engineering, and our subject-matter experts speak their lingo and understand the demand in the market.

‘In addition, sound advice on salary benchmarks and cross-border attraction is critical to employers, who may not have all the info and connections.’

Other sectors seeing heavy demand for manpower include call centres, IT, finance and accounting, HR and hospitality, says Ms Goh.

Recruitment consultancy Robert Walters, which specialises in finding mid to senior-level professionals, has a dedicated IT specialist division that places candidates across a range of companies, such as banks.

Walters also has a specialist sales and marketing division that hires for industries such as pharmaceuticals, luxury goods, financial services and hospitality.

Another recruitment consultancy, GMP Group, has also steered away from a generalist role. It has specialist divisions that hire solely for individual sectors, like banking and technology, says chief executive Annie Yap.

But it’s not just management-level staff that employers are chasing. In some industries, such as the life sciences, the talent crunch filtered down the ranks.

In a recent BT report, biomedical sciences headhunting firm ScienTec Consulting said it had set up a new unit, ScienTec Personnel Division, to find junior staff, with about 100 assignments expected to come up in the next quarter.

Giving his take on the growing trend of niche hiring, SHRI’s Mr Ang said: ‘It makes good economic sense. You have staff who understand the industry their clients are in and know exactly the type of person they want. If you let a fresh graduate, or someone with very little experience, hire for a particular field, it’s unlikely they would know whether a job-seeker is a suitable candidate.’

Focusing on recruiting for particular industries is not the only way to ensure a good match between job-seeker and employer, according to Andrea Ross, director of Robert Walters Singapore.

‘Unlike other recruitment consultancies, we don’t limit ourselves by recruiting only for specific sectors,’ she said. ‘By focusing on job functions, our candidates can be exposed to more career options in terms of similar roles in other industries. Our clients have the benefit of selecting from a talent pool of professionals drawn from various backgrounds and experience.’

Through this strategy, Walters markets its candidates across a portfolio of different clients according to their experience, market knowledge and transferable skills.

‘In a talent-short market, this lateral recruitment strategy has proved to be highly effective and has greatly expanded our pool of candidates,’ said Ms Ross. ‘They can be marketed across industries and organisations that might not even consider them potential candidates had we focused just on specific sectors.’

Paul Heng, managing director of Next Career Consulting, feels more recruitment firms will soon have dedicated teams to focus on the services industry, due to the dearth in management professionals for new projects such as the integrated resorts (IRs).

‘There are hospitality, services and gaming positions to fill, and the hiring firms need to look for people with these skills to cater to their clients,’ he said.

This view is echoed by GMP’s Ms Yap: ‘New trends like offshore oil production and mega public projects like the IRs have contributed to the increase in demand for talent.’

The signs, then, all point to an even tighter labour market. Last year was a record-breaker for Singapore, with 235,000 jobs created as unemployment plunged to an all-time low. Today, there are 1.4 positions available for every job-seeker.

This means more business for recruitment firms. Walters office in Singapore now employs 90 people, nearly double from just 50 a year ago. Manpower Singapore, too, saw healthy growth in the first quarter ended March 31, with net earnings soaring 27 per cent to US$75.5 million, up from US$59.5 million a year earlier.

Meanwhile, the Singapore National Employers’ Federation expects job growth to moderate to between 3 per cent and 4 per cent in 2008, down from 7.7 per cent last year.
Source : Business Times  - 03 May 2008

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The Azure at Sentosa Cove – Singapore – District 04

The Azure at Sentosa Cove – Singapore – District 04

The Azure. The crown jewel of Sentosa Cove. At the point of the exclusive enclave by Sentosa Cove, past surrounded unhampered 180-Grad-Seeansichten, into an excellent completely own splendour is the azure. A Kondominium, which is like no different one in Singapore of straight 116 precious units. A privilege to own, a luxury, to lie inside daily a pleasure of the experience, a outstanding investment, which grows up to the day more valuable. Form it for it.

The azure. Nothing comes between you and the sea.

This is sea-vain even applicable. Where you singular seaweed to really believe can of the Seebrise on your face. Hear the smoothly making noise of tides like you the sleeping case. Take that morning way rises as the sun and turns the water to the gold. It is the kind of the life, which enjoy only the most privileged box a position, which is simply one its kind.

Project Name : The Azure
Developer : Centrepoint Homes Ltd
Type: 1 block of 5-storey apartments
District: 04
Address: Ocean Drive, Sentosa Cove
Tenure: 99 yrs leasehold
Total units: 116

Types:
2 bedrooms & study - 1313 - 1335 sqft
3 bedrooms - 1669-1884 sqft
4 bedrooms - 2271 - 2454 sqft
3 bedroom penthouse - 2121 - 2508 sqft
4 bedroom penthouse - 3165 - 3175 sqft

Sky Villa -
421 sq m/4532 sq ft
383 sq m/4123 sq ft
399 sq m/4295 sq ft

Facilities - The Azure

children playground
lap pool
childrenpool
foot reflexology area
sundeck
roof garden
water feature
spa pools
water promenade

Buy, Sell, Rent, Invest, In SIngapore

Mindy Yong

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http://www.hotvictory.com

The Metropolitan at Redhill – Singapore – District 03

The Metropolitan at Redhill – Singapore – District 03

Project Name : Metropolitan The
Developer : Tanglin Residential Pte Ltd
Tenure : 99 from 17/02/2006
TOP : 09/2010
Property Type : CONDO
District : 3

Near Food Centre, Market, Redhill MRT and schools. Accessible to Orchard Road/Central Business District.

Unit Info:(The Metropolitan)

Total Metropolitan Units: 382 in two 45-storey towers.
221, 223 Alexandra Rd
2 bedRooms: 721 to 840 sq.ft
2 bedRooms + Balcony: 1033 to 1313 sq ft
3 bedRooms + Balcony: 1356 to 2099 sq ft
4 bedRooms + Balcony: 1733 sq ft
4 bedRooms + Balcony + Study: 1894 sq ft
Penthouse 4 bedRooms: 2454 to 2831 sq ft
Penthouse 4 bedRooms + open terrace: 2562 sq ft
Penthouse 4 bedRooms + open terrace + balcony: 3111 sq ft
2-Storeys Penthouse 4 bedRooms + open terrace: 3229 to 3412 sq ft

Facilities:(Metropolitan Condo)

lap pool
wadding pool
feature pond
outdoor fitness station
outdoor spa
sun deck
sitting area
children’s play area
BBQ
tennis court
jacuzzi

Buy, Sell, Rent, Invest, In SIngapore

Mindy Yong

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Botannia at West Coast – Singapore – District 05

Botannia at West Coast – Singapore – District 05

Name : Botannia
Developer : City Development Ltd / Leonie Court Pte Ltd (capitaland)
Tenure : FH
TOP : 04/2010
Property Type : CONDO
District : 5

Nestled in the way of the coast of the west, Botannia are epitome of a house which is built in perfect harmonie with nature. The established only minutes as from Clementi and AYE, residents will enjoy perception value Botannia freedom important transport connections and shopping near along.

Surrounded laag-stijging landed possession and the sumptuous greenness, broad frontage of Botannia take complete advantage of the clear opinions which extend itself to tank than. As part of the unique architectural design, embellishes a rythmic pattern of our, growers, bay windows and sun which apparatuss in the shade put the bouwfacade to supply much shade and ventilatie to the houses.

Botannia are really a house that enchant your eyes and inspire your soul.

Unit Size 493 units
2 bedrooms 818-1,163 sq ft
3 bedrooms 1,163 - 1,636 sq ft
4 bedrooms 1,464 - 3,380 sq ft
Penthouse 2,637 - 2,723 sq ft

Facilities:(Botannia)

spa pool
social pool
children’s play pool with interactive jets
gym
security
Shopping Centre
Wading Pool
Tennis Court
Fitness Tract
Playground
Barbeque Area
Clubhouse
Jacuzzi
Lap Pool
24-hour security
Carpark

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Mindy Yong

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mindy@mindyyong.com

http://www.hotvictory.com

Singapore Foreign workers help to create jobs for Singaporeans

Singapore Foreign workers help to create jobs for Singaporeans

By Dominique Loh,

SINGAPORE: Instead of accusing foreign workers of taking jobs away from Singaporeans, one company said Singaporeans should be thankful that foreign workers are able to help the country’s economy to grow.

This stance coincides with Prime Minister Lee Hsien Loong’s message in his May Day Rally speech on Thursday.

Chinese national Yu Ruo came to Singapore about seven years ago and found a job at manufacturing company, Makino Asia.

With a stable income, he was able to bring his wife to Singapore two years ago, and the couple applied for permanent residency last month.

“First of all, Makino Asia is one of the better known companies in the industry, so this attracted me to come to Singapore and settle here,” said Yu.

About 15 percent of Makino Asia’s 470 employees are foreign workers. Over the years, 30 percent of them have become permanent residents or Singapore citizens.

Unfortunately, not all Singaporeans welcome foreign workers with open arms.

“For the time being, foreigners are not allowed to work in this market,” one Singaporean said.

“Yes, they (foreigners) are stealing our rice bowl. And most of them are using illegal means,” another said.

Dr Moh Chong Tau, CEO of Makino Asia, said: “I do not agree. In fact, we should be thankful to them for creating more jobs for us… For jobs that are not taken up by Singaporeans, we get foreigners to occupy those vacancies in order to create more jobs.”

He also said Singaporeans who feel their jobs are being taken away by foreigners are short-sighted.

“This group of people should not be fearful about losing low-end jobs to foreign workers. They should take the opportunity to acquire more skills and enhance their revenue and livelihood,” he said.

Dr Moh believes Singaporeans should compete with advanced countries where the value of jobs is much higher, which means such jobs also command better wages.
- CNA/so
Source : Channel NewsAsia  - 03 May 2008

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Singapore Job growth expected to be healthy this year despite US slowdown

Singapore Job growth expected to be healthy this year despite US slowdown

By Wong Siew Ying,

SINGAPORE: Fears of job loss due to the slowdown in the US economy are unfounded, at least for now.

This is according to economists who said the job outlook in Singapore should remain positive. They expect 230,000 new jobs to be created this year, compared to the 235,000 generated in 2007.

Industry watchers agreed that the US economy will experience what Prime Minister Lee Hsien Loong called a “U-shaped” slowdown in his May Day speech on Thursday.

This is where recovery occurs over a longer period of time, which could affect Singapore’s growth.

Nonetheless, the shape of things to come is not so bleak when it comes to jobs.

Song Seng Wun, CEO & Regional Economist, CIMB-GK Research, said: “Whichever scenario turns out for this year for Singapore, we’ll probably find that there’s enough resilience in the local economy. You’ll probably see a period of cautious confidence among businesses and households.”

Economists believe the full impact of the US slowdown on jobs will become more apparent in the second half of 2009.

For this year, they expect job creation to remain fairly healthy, driven by demand in the services industry, as well as in the technology and pharmaceutical sectors.

Small- and medium-sized companies are also unlikely to cut jobs significantly any time soon, even though the US slowdown has affected some manufacturers or traders dealing in US dollars.

Kurt Wee, Vice President, Awards & Projects, Association of Small & Medium Enterprises, said: “You may think that by the fourth quarter, you’d need to cut back.

“But just when you are about to start your cut-back exercise, all the new industries in Singapore – the integrated resorts, the Formula One and the infrastructural projects – are going to start kicking in and then you may realise that you actually don’t need to cut back. It’s a very fluid situation.”

The association said companies should seek new markets abroad in order to remain sustainable in the long term.
- CNA/so

Source : Channel NewsAsia  - 03 May 2008

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Singapore Mandarin Gardens’ management panel steps down over enbloc disputes

Singapore Mandarin Gardens’ management panel steps down over enbloc disputes

By Timothy Ouyang,

SINGAPORE : Enbloc sales woes and unhappiness at Mandarin Gardens have left the condominium without a management committee for the past week.

The previous committee refused to be re-nominated for elections at its Annual General Meeting last Sunday.

Since then, no one is taking charge of the day-to-day management at the condominium on Siglap Road.

Channel NewsAsia understands that the entire management committee stepped down because of disputes with the estate’s enbloc sales committee.

Apparently, the enbloc sales committee pushed through resolutions which are unfavourable to the entire estate, through its control of proxy votes.

When contacted, the Strata Titles Board said such cases are rare, but it is unable to do anything at this point.

Under the law, all residents are jointly responsible for any liabilities incurred by the condominium during this period. - CNA/ms
Source : Channel NewsAsia  - 03 May 2008

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Upcoming cruise centre in Singapore Marina South drawing interest from industry players

Upcoming cruise centre in Singapore Marina South drawing interest from industry players

By Pamela Almeda,

SINGAPORE : The upcoming cruise terminal in Marina South is drawing a lot of attention from industry players.

With the appointment of the new terminal operator expected by the third quarter of this year, some in the industry are wondering if they could have a piece of the pie.

Cruising is becoming more popular nowadays. And with the new cruise terminal scheduled to be up by 2010, Singapore is expected to double its capacity to cope with the increasing number of cruise passengers.

But industry players are wondering who the new terminal operator will be. According to them, one likely contender is the Singapore Cruise Centre - which is currently operating Singapore’s cruise terminal at HarbourFront.

Cheong Teow Cheng, President, Singapore Cruise Centre, said: “We want to do our best and be recognised as the cruise terminal operator of choice, so hopefully whatever we do, for example, upgrading the current terminal, would put us in good stead when the tender for the new operator is out.”

The Singapore Tourism Board is expected to announce its decision by the third quarter this year.

Some industry players, like cruise liners, said they are open to opportunities to be involved in the running of the new cruise centre.

Dario Rustico, Director, Sales and Marketing, Costa Crociere, said: “It is important to involve cruise operators in managing the terminal, because they can bring their expertise and experience from all over the world.”

Jackson Loy, VP, Sales and Marketing, Star Cruises, said: “If it’s not the Singapore Cruise Centre operating it, then probably some joint venture between operators of cruise lines, cruise liners, cruise line operators themselves together with shipping related enterprises. It could be a joint venture.”

The new terminal will help Singapore achieve its target of 17 million visitor arrivals by 2015. - CNA/ms
Source : Channel NewsAsia  - 03 May 2008

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