Creating more buzz in the Singapore Central Area

Creating more buzz in the Singapore Central Area

By LEONARD TAY

OF ALL the changes made in the recent announcement of the new draft Master Plan 2008, those being effected within the Central Region in general and within the Central Area in particular would have the most telling impact on commercial land use in Singapore.
 
Marina Bay Financial Centre: About 44 per cent of the supply of new office space in Singapore will be in the new commercial area of Marina Bay, and would be of Grade A quality 
The Central Area lies at the heart of the Central Region and includes the sub-zones of the Downtown Core, Singapore River, River Valley, Outram, Museum, Rochor, Newton and Orchard, as well as new areas for development comprising the sub-zones Marina East, Marina South and Straits View.

In the years since the last Master Plan in 2003, the Central Area has been evolving from a land use that was predominantly commercial to include a wider diversity of other uses, such as residential, lifestyle/entertainment and recreation. Yet, despite the influx of uses that were not typical to the Central Area 10 years ago, it is the commercial elements (especially the office sector) within the Central Area that look poised to grow in terms of both quality and quantity.

The confirmed supply of new office space in Singapore in the next five years is estimated to be about 10.2 million square feet and about 44 per cent of these new office buildings (Marina Bay Financial Centre, Marina View North Tower and Marina View South Tower) would be in the new commercial area of Marina Bay, and would be of Grade A quality.

In addition, 64 per cent of the future office supply islandwide would be Grade A buildings, undoubtedly raising the quality of office stock in the Core CBD, thereby contributing to the attractiveness of the city-state as a major financial centre.

At the same time, the Draft Master Plan 2008 provides the quantity of development space, as an additional 6.4 million sq m (69 million sq ft) of commercial space is planned for the Central Area in 10-15 years.

Rail network

A glance at the sites from the Draft Master Plan in the Marina Bay area shows that almost all the sites are ‘white’ sites, where mixed-used developments can be constructed.

Moreover, the plot ratios of the undeveloped sites range from 8.0 to 25.0, with most of the sites having a plot ratio of 13.0. These would mostly comprise modern office buildings, while at the same time suggesting that Marina Bay would have a diversity of uses that should see complementary retail space as well as residential homes. Therefore, offices with large floorplates, homes overlooking the 101-hectare Gardens by the Bay, or shops within walking distance of the entertainment highlights at the soon-to-be-completed integrated resort look set to transform Marina Bay.

In anticipation of these exciting changes, the government is also investing in significant infrastructure. In the LTA’s Land Transport Masterplan, the rail transit network would increase from the present 138 km to 278 km by 2020.

Not only will this make the rail network comparable to those in cities like New York and London, it would facilitate the injection of even more activity into the Central Area. It is envisaged that commuters would have access to a rail transit station within 400 metres, or five minutes’ walk, from any location in the Central Area, bringing people to an array of activities in the new downtown.

Not all the action will be in Marina Bay though as the Tanjong Pagar area south of the existing CBD will also be rejuvenated, and the Beach Road/Ophir-Rochor Corridor will house a number of varied mixed-use developments. The development of these areas would provide another tier of commercial facilities on the fringe of the CBD, supporting businesses that do not require a Core CBD location.

The writer is a director of CBRE Research

Source : Business Times - 29 May 2008

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New vision for Singapore Kallang Riverside

New vision for Singapore Kallang Riverside

The area is set to evolve into the next prime area at the edge of the city, say NICHOLAS MAK and TEO JUNRONG

THE Kallang planning area, positioned along the picturesque Kallang River and within close proximity to the Central Business District (CBD), has enormous development potential. Made up of nine sub-zones, it covers a land area of about 920 hectares that includes 101 hectares of water body.
 
Taking sports to a new level: When the $1.2 billion Singapore Sports Hub is completed by 2011, it will add vibrancy to Kallang Riverside due to its close proximity to the area 
Since the announcement of the 1998 Master Plan, planners have envisaged the Kallang area as an urban waterfront district. This vision includes it being a centre for sports, recreation and leisure with residential developments flanking the riverbanks. There were also plans to transform the Kallang planning area into a major commercial centre to capitalise on its proximity to the Central Area.

In particular, under the 1998 Master Plan, Kampong Bugis, a sub-zone of the Kallang planning area, was slated to be a transition between the Central Area and the sports and recreation areas at Kallang Basin.

High-density residential buildings along with recreational facilities will be orientated towards the river to take advantage of the waterfront view. Some of these plans have already materialised. Waterfront residential developments, such as Pebble Bay and Camelot, can now be found facing the Kallang Basin.

The latest Master Plan aims to build on the earlier vision for Kallang. The new planning sub-zone will be the Kallang Riverside, which refers to the areas on both sides of the Kallang River, bounded by Nicoll Highway, Kallang Road and Sims Way. With a total land area of 64 hectares available for development, Kallang Riverside is to be transformed into a new lifestyle district, offering waterfront homes with an exciting mix of retail and entertainment facilities.

In addition, the area will also be developed into a commercial hub outside the city centre, providing various business alternatives and employment opportunities. Kallang Riverside will embrace the nationwide vision to make Singapore a great city in which to live, work and play.

Work

As mentioned earlier, Kallang Riverside aims to become a major commercial hub outside the city centre. There will be over 200,000 square metres of new office space added to the area. Its proximity to the CBD will be an advantage, as it will provide an alternative location to the existing CBD. The resulting projected increase of 21,000 office workers in Kallang could provide the necessary pool of demand for the upcoming retail and entertainment outlets.

Live

Homes with waterfront views usually command a premium and the prices of some of these homes fall within the high-end price segment in Singapore. Distinctive waterfront homes within a lush park setting are planned to be developed on the western side of the Kallang River.

The proposed 4,000 new waterfront homes will have a range of heights to ensure that scenic views of the beachfront will not be obstructed. For instance, there will be varying residential plot ratios of 3.5 to 5.6 under the 2008 Master Plan for the area to the west of the Kallang River. Future developments can also adopt a resort-style design, to take advantage of the beaches and water edge location. These new homes could also be relatively more affordable and could be priced in the mass market and mid-tier segments.

In order to allow the water features and landscaping elements to seamlessly extend the lush park setting, developments here will be encouraged to go ‘fenceless’. This will be similar to one-north Residences, where such a fenceless environment was created to enable pedestrian connectivity and interaction among the community.

This will also pose challenges and opportunities for architects, as they need to create this seamless environment for the developments in Kallang Riverside without compromising on the security of the residents.

With the presence of the various live-work-play elements, together with its waterfront location and proximity to the CBD, these developments are likely to be attractive to homeowners and investors.

Kallang Riverside will also take advantage of its distinctive tropical character and surrounding water features by forming a substantial hotel cluster to cater to family and business travellers. Under the 1998 Master Plan, the area to the east of the Kallang River had been zoned for residential purposes. Under the 2008 Master Plan, the zoning has now been changed to hotel and white sites.

The hotel zoning will have plot ratios ranging from 2.1 to 3.5 while the white sites zoning will have plot ratios ranging from 1.5 to 4.9. There are plans for up to 3,000 hotel rooms available along the banks of the Kallang River.

Due to tourism initiatives such as the Formula One race, Youth Olympics and the integrated resorts, the number of visitors to Singapore is anticipated to rise over the medium term from the 10 million in 2007 to about 17 million by 2015. As a result, more hotels are needed to meet the rising demand. Tourists should find hotels along the Kallang Riverside an attractive choice, with their scenic views, proximity to the CBD as well as major tourist attractions.

Play

Kallang Riverside will go through a metamorphosis to become a new lifestyle hub, with a vibrant mix of retail, food and beverage outlets, and entertainment facilities. It is close to key attractions such as the Sports Hub and the Illuma entertainment centre.

Costing some $1.2 billion, the Singapore Sports Hub would be completed by 2011. The integrated complex includes a 55,000-seat capacity stadium with a retractable roof, a 6,000 capacity aquatic centre, a multi-purpose arena and over 41,000 square metres of commercial space. It will be Singapore’s premier land and sea sports, entertainment and lifestyle hub, hosting major international events and playing a critical role in taking sports in Singapore to a new level. Due to its close proximity, the Sports Hub is likely to add vibrancy to Kallang Riverside.

Illuma, located in the Bras Basah-Bugis district, is slated to be Singapore’s first urban entertainment centre. Spanning a site area of 8,921 sq m, the complex aims to provide an exciting mix of arts and entertainment facilities all in one location, drawing both locals and tourists alike.

Within the development, public spaces will be provided to serve as venues for street performances, bazaars and open-air concerts. Likewise, this upcoming project would be something that the residents in Kallang can look forward to.

With its sandy beaches, waterfront views, and close proximity to the city, Kallang Riverside is indeed situated in a unique spot in Singapore. As the Master Plan gradually materialises, Kallang Riverside will evolve into the next prime area at the edge of the city. The growing population in the area would provide the critical mass to support these upcoming residential and commercial developments. In time to come, Kallang Riverside might become one of the places in which residents can truly live, work and play.

The writers are with Knight Frank’s Research & Consultancy Department

Source : Business Times - 29 May 2008

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Firms not doing enough to keep talent: recruiter-Singapore

Firms not doing enough to keep talent: recruiter-Singapore

They don’t expect top staff to just up and go but reality dictates otherwise
By LEE U-WEN

THE drawback of a buoyant economy is that companies today are too focused on hiring talent and not doing enough to keep it, says a senior recruitment executive.
 
Ms Greybe: Many Asian companies do not have proper succession planning in place 
Many Asian companies do not have proper succession planning in place should a key person suddenly decide to depart for greener pastures, and this lack of foresight could hamper plans for the future, said Christine Greybe, managing director of Hong Kong-based DHR International Asia.

DHR is an executive search provider with 46 offices worldwide, including a small set-up in Singapore.

Ms Greybe told BT: ‘I would say that 90 per cent of our clients contact us not because they need to back-fill a position, but because there’s a vacancy. And we’re talking about director, vice-president and chairman levels. They haven’t put any plans in place around succession.’

While companies may argue that they do not expect top staff to just pack up and go, the ‘reality’ is that CEOs are human and can resign whenever they want, she said.

A recent survey of almost 5,000 senior executives by Boston Consulting Group (BCG) revealed that while managing talent was rated a top priority, just 40 per cent of respondents said that they were actively addressing the challenge

The reason boils down to problems such as a lack of resources in funding or manpower that companies devote to HR.

Ms Greybe said: ‘There is very high demand in the market right now. This is a candidate-type market. Top talent will be attracted to other employers, and vice-versa.’

Bringing in the best foreign talent to work in Singapore is no longer as easy as before, she said. Many companies here face an uphill battle when it comes to helping expatriates meet their children’s education needs.

‘It’s very difficult to get a place in an international school due to the lack of places, and that’s one of the biggest limiting factors for our clients,’ Ms Greybe said. ‘It’s not that the candidate is unwilling to move to another country, or that companies are unwilling to relocate people or pay the money to bring them over, it’s the fact that it’s difficult to even make it happen in the first place.’

In the short-term, she suggested that the government take a more pro-active approach to ensuring that there are enough school places for children of expatriates. This could be done by setting up a state-funded school for foreign students, or making it easier for them to go to existing local schools.

In April, the American Chamber of Commerce said that it would set up a committee to study school admission for its members’ children, after many said that they were unable to move key employees to Singapore because their children could not be guaranteed a place in an international school.

Last November, United World College of South-east Asia said that it would build a new campus at Tampines by 2010.

Meanwhile, on concerns among locals that foreigners are eating into their opportunities in the job market, Ms Greybe chose to see things from a different perspective.

‘Singapore has been able to sell itself as a family-friendly destination with a good environment and lifestyle,’ she said. ‘So what is happening is that more regional headquarters are now being based in Singapore.’

What this means is that companies are ‘forced’ to send people here because major firms around the world are heading to Singapore.

‘Sometimes, it’s not just about job creation,’ said Ms Greybe. ‘Rather it’s because of job relocation.’

Source : Business Times - 29 May 2008

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Tian Hock wins Singapore Choa Chu Kang Drive tender

Tian Hock wins Singapore Choa Chu Kang Drive tender

THE Urban Redevelopment Authority (URA) yesterday awarded the tender for a residential site at Choa Chu Kang Drive to Tian Hock Properties.
Tian Hock Properties, a unit of Far East Organization, was top bidder for the site at $116.01 million, or $203 per square foot per plot ratio (psf ppr).

The 99-year leasehold site has a maximum gross floor area of 572,600 sq ft.

On Monday URA closed the tender for the site, which attracted four other bids from companies such as Sim Lian Land.

Market watchers’ estimates of the breakeven cost of a new development on the site range from $550-$600 psf, translating to a selling price of $610-$650 psf.

 
Source : Business Times - 29 May 2008

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Singapore Nassim condo turns in surprisingly good sales

Singapore Nassim condo turns in surprisingly good sales 
 
A LUXURY condominium in the posh Nassim area has turned in surprisingly good preview sales, even as property analysts are predicting a sharp slowdown in the high-end home segment.
Buyers have taken up 38 units at Nassim Park Residences, forking out a whopping $10 million or more for each apartment, sources said.

The 100-unit development, which United Overseas Land (UOL) is building on the former Nassim Park site in Nassim Road, is understood to be priced upwards of $3,000 per sq ft (psf).

The project consists of only four-bedroom and penthouse apartments. Each of the four-bedders is believed to be at least 3,000 sq ft in size, while the penthouses are between 6,000 sq ft and 7,000 sq ft.

UOL declined to comment on the figures yesterday, but sources said the developer might not release some of the units and instead keep them for its own use.

Nassim Park Residences is the first major luxury development to be released for sale this year. Most other launches, especially large, high-end ones, have been held back as developers wait out the market gloom.

Elsewhere, some smaller projects have also seen brisk sales after discounts were offered. Over the Vesak Day weekend, Macly Group sold 60 per cent of the 102-unit Vutton in Novena at a 10 per cent discount off list prices, or about $1,100 psf to $1,400 psf.

 
Source : Straits Times - 28 May 2008

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Malaysia Fuel ban: JB kiosks fear loss of business

Malaysia Fuel ban: JB kiosks fear loss of business 

As much as 90 per cent of their customers are Singaporeans

By Arlina Arshad 
RUNNING DRY: After the ban on foreign-registered vehicles filling up on fuel within 50km of Malaysia’a borders comes into force on Friday, Singapore motorists will have less incentive to drive to Johor Baru on shopping or eating trips. — PHOTO: JOYCE FANG
 
JOHOR petrol station operators and businesses are up in arms over the Malaysian government’s move to ban foreign-registered vehicles from topping up their fuel tanks at petrol stations within 50km of the country’s borders.
Without business from Singaporeans, Johor petrol kiosks say they will ‘die’ because as much as 90 per cent of their business comes from Singapore motorists.

It is understood the move will also hit petrol stations in the north patronised by Thais.

With Singaporeans barred from topping up at Johor stations within 50km of the Singapore-Malaysia border, they will have one fewer reason to shop in Johor Baru - which means hypermarts and restaurants there will also be hit.

The fuel ban, due to kick in on Friday, is aimed at stopping foreign motorists from reaping savings from Malaysian fuel, which cost the Malaysian government RM40 billion (S$17 billion) to subsidise last year.

The move will hit about 300 petrol kiosks in the designated ‘ban’ zones.
 
At BHPetrol, which sits near the Causeway, half the customers are Singaporeans, said kiosk assistant Chai Shao Chin, 37, who added:

‘Die already lah, really die. Business will be down. There are so many kiosks, some will have to close shop.’

Mr Sallehuddin Saidon, 46, who runs a Shell station in Taman Sri Tebrau, where a food centre popular among Singaporeans is located, agreed, saying the ruling will ‘cripple Johor’s economy badly’.

Of his 1,000 weekday and 1,500 weekend customers, 40 per cent are Singaporeans.

Petrol kiosk operators hope the Petrol Dealers Association of Malaysia will protect their interests.

The Straits Times confirmed their fears: Most of a dozen Singapore motorists who were in JB yesterday said they will cut back on trips across the Causeway, since they will not bother driving to Sedenak or Kota Tinggi - about 50km away - for fuel.

The Land Transport Authority said about 16,000 local vehicles leave Singapore via the Woodlands and Tuas checkpoints daily.

Sales engineer Alvin Tan, 35, said when the rule takes effect, he will cut down his trips to Johor from eight times to once a month.

‘I come here because of the savings. It is not worth it to drive so far up to get petrol. I might as well just spend in Singapore,’ he said.

Retired cabby Jimmy Tan, 62, who visits his daughter in JB daily, suggested charging Singaporeans fuel at non-subsidised rates instead of barring them from buying any.

Subsidised petrol, regardless of brand, costs RM1.92 a litre, and diesel, RM1.58. Removing the subsidy will add RM1 to the cost.

Singapore businessmen in Johor also griped about the inconvenience the move will pose.

Mr Jaffar Ali, 61, a tour guide who takes visitors to JB’s attractions twice a month, said his friends who own printing factories in Kulai, within 50km of the border, need to drive around to visit their factories.

He said: ‘Does that mean they have to go to Kota Tinggi or back to Singapore for refills? It does not make sense.’

Petrol kiosks warn that a black market could arise from the ruling. Ms Sharon Kee, who runs a Shell kiosk, pointed out that people may smuggle fuel in local vehicles or come up with modified tanks.

But even as kiosk operators ask how the ruling will be enforced, they say they will comply with it because the fine of RM250,000 is just too hefty to risk getting caught.

A Johor police source told The Straits Times that checking where Singapore vehicles top up their tanks was certainly not the job of the police force.

The Johor department handling domestic trade and consumer affairs has so far received no guidelines from its headquarters on how the ruling will be enforced.
 

Effect on tourism
JOHOR Menteri Besar Abdul Ghani Othman said yesterday the move to ban petrol sales will not hurt the tourism industry.
‘I believe Johor has other attractions for foreigners, and this new ruling will not hamper them from coming in.’ He said the state government supported the ruling as it was time to reduce fuel subsidy costs.

THE STAR/ASIA NEWS NETWORK

Source : Straits Times - 28 May 2008

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Mid-tier, upscale Singapore hotels faring best: STB figures

Mid-tier, upscale Singapore hotels faring best: STB figures
 
For first time, data groups hotels into classes, shows their performance

By Lim Wei Chean 
DOING WELL: Link Hotel in Tiong Bahru is among those in the mid-tier category, which are reported to be fairing the best, along with upscale hotels which would include the likes of Orchard Hotel. — ST PHOTO: DESMOND FOO

MID-TIER and upscale hotels have fared best among different types of hotels in the current tourism boom.
The Singapore Tourism Board (STB), releasing the latest tourism statistics here, has grouped the hotels into four classes and released figures on their performance for the first time.

The four are:

Luxury hotels: those in prime locations or historic buildings (4,500 rooms);

Upscale hotels: boutique hotels and those in prime locations, charging slightly lower rates (12,400 rooms);

Mid-tier hotels: those in commercial zones (9,500 rooms); and

Economy hotels: those with budget rooms in outlying districts (3,800 rooms).

The STB declined to cite examples of hotels in each category, but going by its descriptions of each, luxury hotels include the likes of The Ritz-Carlton Millenia; upscale ones include Orchard Hotel; mid-tier hotels cover Link Hotel in Tiong Bahru and economy hotels include Hotel Bencoolen.

Going by STB figures, upscale and mid-tier hotels did best in average room occupancy, average room rate and revenue per available room last month.

Among the four categories, upscale hotels saw the biggest jump in revenue from each available room - 27.9 per cent - from a year ago.Revenue per available room is calculated by multiplying average room occupancy by average room rate.

Mid-tier hotels had the biggest increase in average room rates, up 28.2 per cent over last April’s.

Mr Colin Tan, director of research and consultancy at Chesterton International, said the sound performance by mid-tier and upscale hotels could have come from the room crunch and higher demand for these hotels.

The average hotel occupancy rate stood at 84 per cent last month, at an average room rate of $254. Hotels are expected to earn $186 million from their rooms, up 30.1 per cent from last April.

Knight Frank director of research and consultancy Nicholas Mak, noting an uptrend across all four hotel categories, said that, by releasing such data, the STB is helping investors judge the industry’s state and decide which categories are worth putting money into.

Chesterton International’s Mr Tan surmised that the recent ‘no-bid’ situation for a 0.9ha Little India hotel site could have spurred the STB to make this information part of its monthly updates.

The plot above Little India MRT station made the news last week as the first instance in seven years where a government land tender failed to draw bids.

Mr Tan said one reason could be that the site is suitable for mid-tier or budget accommodation and developers had the idea returns on these types of hotels are lower.

However, he added, with STB information that all sectors are doing well, investors may be spurred to take up non-prime land to build non-luxury hotels.

The STB confirmed it made the data available ‘to facilitate their business and investment decisions’.

Fuelling the growth of hotels is a rise in the number of tourists. Last month was another sterling month, with 826,000 arrivals: Indonesians led the charge with 131,000, followed by 107,000 Chinese, 63,000 Australians and about the same number of Indians, and 53,000 Malaysians.

Source : Straits Times - 28 May 2008

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Singapore New flats under stricter rules in hot demand

Singapore New flats under stricter rules in hot demand 

By Jessica Cheam 

DEMAND has been strong for the latest batch of Housing Board (HDB) flats - despite new rules designed to prevent frivolous applications.
As at 5pm yesterday, 2,397 applications had poured in for the 1,485 premium flats launched by HDB just last Thursday.

Housing experts say demand looks likely to stay healthy, although the total number of applications may drop as HDB’s new rules begin to deter time-wasting and frivolous applications.

The latest flats are likely to be three times oversubscribed, they say - a drop from comparable sales earlier this year, which were about five times oversubscribed.

HDB’s two newest projects - Compassvale Pearl in Sengkang and Punggol Sapphire - are being offered under HDB’s build-to-order (BTO) system, where flats are built only when a certain level of demand has been reached.

HDB tweaked its application process last week to address concerns over relatively low take-up rates for new flats despite thousands of applications.

Under the new rules, a first-time buyer who rejects an offer to buy a flat twice at HDB’s BTO or balloting sales exercises will lose his first- timer priorities for a year. That effectively puts him at the back of the queue with the second-timers.

The new rules raised fears that buyers offered leftover flats will be penalised. HDB has since said it may exercise flexibility if applicants at the back of the queue have good reasons for rejecting available flats.

Market watchers such as Prop- Nex chief executive Mohamed Ismail told The Straits Times he estimates applications will drop by 40 per cent under the new rules.

‘But as new HDB flats are still the cheapest option for newlywed couples, demand should still be at the 70 per cent take-up rate,’ he said.

ERA Realty Network’s assistant vice-president Eugene Lim agreed. ‘The new rules cut out the time- wasters…what’s left is real demand.’

Earlier this year, BTO projects Punggol Spring and Jade Spring @ Yishun Phase 2 were about five times oversubscribed, HDB figures show. Mr Ismail said the latest projects are likely to be about three times oversubscribed, based on yesterday’s figures.

So far, Punggol Sapphire is the more popular, with 1,824 applications for 1,065 homes, compared to 573 for 420 homes at Sengkang.

First-timers such as IT officer Chua Yong Kiat, 28, said it will not be a surprise if total numbers drop.

‘I’ll definitely only apply if I’m sure I would buy a flat at that location. If not, getting that dream home becomes much harder if you lose your first-timer priorities,’ he said.

 
Source : Straits Times - 28 May 2008

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Singaporeans likely to cut down on trips to Malaysia once petrol sale ban starts

Singaporeans likely to cut down on trips to Malaysia once petrol sale ban starts

By Asha Popatlal,

SINGAPORE: Some Singaporeans said they may cut back on trips to Malaysia once the proposed ban on the sale of petrol and diesel to foreign registered vehicles within a 50-kilometre radius of Malaysia’s borders takes effect.

The ban is expected to kick in as early as this Friday in a move to prevent abuse of heavy fuel subsidies.

However, Malaysia’s Domestic Trade Minister, Shahrir Samad, said on Tuesday that the ban is a temporary one. It will be lifted once a new subsidy mechanism to replace the existing scheme, where everyone is subsidised, is put in place.

Still, the move is expected to affect hundreds of motorists who regularly cross over the border for cheaper oil.

Malaysia’s diesel and petrol prices are among the lowest in Asia due to high government subsidies.

The ban is expected to affect up to 300 petrol stations in the country. And Singaporeans who head to Johor Bahru for cheaper petrol will be the most affected.

For example, Loy Cheong, a businessman who is a regular traveller across the border, said he will cut back on his trips.

Mr Cheong, Business Development Manager, Medo Enterprises Holding, said: “Buying cheap petrol is one of the privileges and what attracts the Singaporean to go there. But with this implementation, it may deter people from visiting Johor.

“We go normally once a week or once in every two weeks. But if they implement this, maybe we will go less often, like once a month.”

Also facing problems are Malaysians who are Singapore permanent residents.

Koh Ming Li, a Singapore permanent resident, lives near the border and has been coming to Singapore almost every day for the past two years for work.

He said: “The problem now is that it prohibits me from driving directly into JB. And as for the 50-kilometre radius from JB, I would say (there’s) almost no petrol kiosks within JB that I can pump petrol from.”

Petrol kiosk operators who violate the ban face the possibility of a S$110,000 fine (RM$250,000) or a three-year jail term or both. - CNA/vm

Source : Channel NewsAsia - 28 May 2008

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Global investors see opportunities in nanotechnology in Singapore

Global investors see opportunities in nanotechnology in Singapore

By Timothy Ouyang,

SINGAPORE: Global investors said they are seeing a lot of investment opportunities in nanotechnology opening up here in Singapore.

The comment comes a day before the first ever NanoEquity Asia conference kicks off in Singapore. The conference is aimed at facilitating investment in nanotech start-ups and SMEs from around the region.

It was touted to be the next explosive growth area after information technology here in Singapore and nano-technology is starting to have a huge impact on a wide range of industries.

Marco Beckmann, CEO, Nanostart Investments, said: “We see products, new technologies that are just about to enter the market and they’re coming right out of Singapore. And sometimes, we see so many fast things that are developing here in Singapore that’s very promising and interesting for us.”

Investors said there’s a growing trend globally to look for investments in the application of nanotechnology in clean tech.

But industry watchers note that nanotech firms need help in growing their technologies into commercial businesses.

Mr Beckmann continued: “Every single nanotech company is most likely a scientific-driven team that needs help to commercialise their technology and that means they need support. They don’t only need money, they need support to commercialise their technology.”

Support in research and development infrastructure is also seen as important.

And according to some firms, this has been a big pull factor for them to set up their regional headquarters here in Singapore.

Jim Von Her, President, Zyvex Labs, said: “When I started to really come here and look at the quality of the institutions, I realised there’re couple of universities that are in the top 100 universities worldwide (like) NUS and NTU.”

Currently, the EDB estimates that there are some 50 nanotechnology companies based here in Singapore. - CNA/vm

Source : Channel NewsAsia - 28 May 2008

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