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UN suspends Gaza operations as shells smash into HQ
GAZA CITY : The UN on Thursday suspended its operations in Gaza after Israeli shells smashed into its compound, setting fire to warehouses of badly-needed aid and prompting outrage from UN chief Ban Ki-moon as he arrived in Israel.
“Israeli tank shells fell inside the UNRWA complex in Gaza, injuring three of its employees,” spokesman Adnan Abu Hasna told AFP. “We have decided to suspend all our operations.”
According to another official of UNRWA, the UN’s main agency for Palestinian refugees, one of the buildings set ablaze in the attack contained “hundreds of tonnes” of relief aid.
Chris Gunness, a Jerusalem-based spokesman for the agency, said hundreds of people had been taking refuge inside the compound when it was hit.
“The building is on fire and we are unable to put it out. Five field vehicles are inside the compound,” he said.
Another humanitarian group, CARE International, said it too had been forced to suspend all deliveries of food and medical supplies due to heavy bombardment in and around its warehouses and distribution sites in Gaza City.
The shelling of the UNRWA complex, on the 20th day of Israel’s war on Hamas in the Gaza Strip, prompted a furious response from the UN Secretary General who arrived in Israel earlier on Thursday.
“I have conveyed my strong protest and outrage and demanded a full explanation from the defence minister and foreign minister,” Ban told reporters in Tel Aviv.
Ban said Defence Minister Ehud Barak had assured him the incident had been “a grave mistake” which was being taken “very seriously.”
“He assured me that extra caution will be given to UN facilities and stuff and that this will not be repeated,” he said.
The United Nations chief, who is in Israel as part of a regional tour to push for an immediate ceasefire in the Gaza conflict which so far has killed nearly 1,100 Palestinians, said the death toll was unacceptable.
“The number of casualties has reached an unbearable point,” Ban said. “We have no more time to lose, we must end the civilian suffering now.”
But he said the elements were in place for Israel’s war in Gaza, launched by Israel on December 27, to end “now.”
“The time has come for the violence to stop and for us to change fundamentally the dynamics in Gaza and to pursue again the peace talks for a two-state solution which is the only road for lasting security for Israel.”
Israeli Foreign Minister Tzipi Livni insisted the Jewish state would decide how and when to end its massive campaign aimed at ending rocket fire from the Gaza Strip into Israel and dubbed Operation Cast Lead.
“We are doing our own assessments on daily basis and according to them, we will decide when to stop,” she said.
“Israel will also maintain its right to defend itself when it comes to stopping the smuggling of weapons, and not only rocket fire.”
The UNRWA compound had earlier Thursday been damaged by shrapnel when another Israeli shell landed next to the complex, which is close to the Islamic University in the centre of Gaza City.
UNRWA officials inside the compound, which houses a vocational training centre and vehicle pool, said that fighting in the area had intensified on Thursday.
“With every minute that passes, civilians and humanitarian workers are being put in life-threatening situations,” Gunness said.
“UNRWA has an urgent humanitarian task to fulfil which is one more reason why the parties on the ground must heed Mr. Ban’s mission of peace.”
Ban is expected to meet Israeli Prime Minister Ehud Olmert later on Thursday and will travel to the West Bank city of Ramallah to meet with Palestinian president Mahmud Abbas on Friday.
- AFP /ls
Source : Channel NewsAsia - 16 Jan 2009
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Singapore Owner told to pay $382k agent’s fee
She withheld payment as she blamed agent for not telling her that buyer was neighbour
By K.C. Vijayan, Law Correspondent
Madam Lam’s house at 32H Nassim Road was bought by Mr Chew Hua Seng, her neighbour at 32K, for $25.5 million.
A JUDGE has ordered the owner of a $25.5 million house to pay the commission that she had withheld from an property agent for alleged wrongful conduct.
Madam Lam Cheng Yee, who owned the unit at 32H Nassim Road, had claimed she was entitled to cancel the payment to Ms Cindy Wong of Areco International who had clinched the sale. At 1.5 per cent commission for the sale, the amount came to $382,500.
She argued that she lost the opportunity to get a better price because it later emerged that the buyer was a neighbour after the sale went through.
The agent, she said, had told her that the buyer, who remained anonymous during the transaction, wanted the house because of its feng shui.
She claimed that Ms Wong had been deceitful as the buyer’s address on the option document was listed as an office in Temasek Boulevard, rather than 32K Nassim Road.
The buyer was Mr Chew Hua Seng, founder and chairman of Raffles Education Corporation. He was ranked No. 10 in the Forbes list of Singapore’s top 40 richest persons in 2007.
Madam Lam’s bungalow on the 1,250 sq m piece of land adjoins his unit at the rear with a narrow passageway leading to the main road. Seen from Nassim Road, both units are separated by another unit, 32G.
Madam Lam’s husband, Mr Thio Keng Thay, a former deputy managing director of Malaysia Dairy Industries, handled the sale on her behalf.
Mr Thio had testified in his affidavit for the civil suit heard last July that an adjacent property would ‘command a substantial premium over the market value’. He added he would not have sold the bungalow for $25.5 million if Ms Wong had told him the buyer was a neighbour.
Ruling against Madam Lam, Justice Kan Ting Chiu said in his written judgment made public on Wednesday that her allegation that she had been misled by Ms Wong could not be supported.
The judge said, among other things, that ‘good feng shui’ could not be the reason Madam Lam was willing to sell the house.
Mr Thio also did not say he wanted the buyer’s residential address to be disclosed as a condition of sale and had in fact set the asking price of $25.5 million. Nor did he ask Ms Wong if it was a good selling price or if there were other factors he should consider in setting the price.
Even if he had sought advice from Ms Wong, the issue would then be whether an agent is expected to know that a property can command a higher price from the owner of an adjoining property.
Ms Wong, Justice Kan noted, was not engaged as a valuer and did not hold herself out to be know- ledgeable in property valuation.
Separately, the judge took issue with Madam Lam’s lawyer Lin Ming Khin for following her instructions to revoke the commission payable to Ms Wong ‘without demurral’.
He asked if this was appropriate as the agent’s entitlement would be in jeopardy if the seller happened to be outside the jurisdiction of the Singapore courts or is unable to pay the commission by the time the court rules in the agent’s favour.
‘Prudent solicitors in such a situation’, he said, would have taken steps to retain the commission pending the outcome of the dispute.
Property analysts say that generally, an adjoining property will command a premium as such opportunities are rare. Said Savills Singapore director Steven Ming: ‘It makes sense to pay a higher price as when the buyer combines the cost with what was paid years ago for the property he currently owns, the cost per sq m would have averaged out to a lower level for the total lot.’
Source : Straits Times - 16 Jan 2009
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Conned into renting same house
Malaysian couple shell out $4,300
Japanese expat coughs up $6,000
Conman duped would-be tenants and agents by posing as property’s manager
By Joyce Teo
This property in Serangoon Gardens is at the centre of a scam by a swindler who claimed to be its manager. — ST PHOTO: LAU FOOK KONG
A MALAYSIAN couple and a Japanese expatriate have fallen prey to a rental scam run by a conman who took $10,300 from them - then went into hiding.
Neither party realised they had paid him to lease the same terrace house in Serangoon Gardens. But in a twist of fate, they ran into each another there - and discovered his scam.
The man who allegedly made off with their money - his full name is Axley Alexander Ryan Shah and he calls himself Ryan - had no legal link to the property. He pretended to be the property’s manager. It is not clear how he obtained the house keys.
The couple, who are permanent residents, and the Japanese woman have filed separate police reports. A police spokesman said on Monday that two reports of cheating are being investigated.
The property agency involved, ERA, said it is probing the case. Two of its agents were apparently duped by Ryan.
ERA Asia-Pacific associate director Eugene Lim said such scams surface occasionally and often involve a conman fraudulently renting out someone else’s home.
‘We train our agents to do due diligence to ascertain the property’s ownership,’ he said. ‘If they are dealing with a representative, they need to verify his identity and make sure he has the authority to act on behalf of the owner.’
In this case, the agents believed Ryan when he said he was the property manager and when he signed off as property manager-cum-landlord - even though they had run an ownership search that showed he was not one of the owners.
The couple - Ms Elena Fernandez, 35, and her husband, who have lived in Singapore for two years - paid cash to lease the house last November after responding to an online advertisement by an ERA agent.
At the house, they were met by two ERA agents and Ryan, who had asked one of the agents for tenant referrals. He said he represented Sisedel, a firm that owns 11 properties in Singapore, including - he claimed - the house in question.
He asked for $2,500 a month but Ms Fernandez, a part-time announcer at Gold 90FM, bargained it down to $2,150.
She said: ‘We were a bit surprised as the house was in good condition even though it was old. Other houses nearby were going for $2,400 or $2,500.’
Ryan signed off on the tenancy agreement representing Sisedel and collected a two-month deposit of $4,300 in cash - witnessed by the two agents.
Later, he gave them the key. At the house, they were shocked to find sealed boxes in a bedroom and leftover food in the fridge. Ryan did not turn up.
Then a cab pulled up and the Japanese woman, who declined to be named in this article, told them to their dismay that she had paid to rent the house from Feb 1.
The woman, who had recently arrived in Singapore, told The Straits Times: ‘After Christmas, Ryan SMSed me to tell me he could not rent out the house because his agent had found someone else. He said he would refund the deposit, but after that, we could not contact him.’
She had paid him $6,000 - two months’ deposit and advance rent. She went to the house to try to find him.
Ms Fernandez still has the key to the house. She said Ryan had sent her an SMS before disappearing, to apologise, saying greed had got the better of him.
The agents have since found her another place and paid the deposit for it.
The owners of 19 Coniston Grove are listed as Madam Tham Shook Han and Mr Lam Kah Han, according to data from the Inland Revenue Authority of Singapore. They could not be reached for comment.
A company search showed that Sisedel was set up in April last year. Its shareholders and directors are Axley Alexander Ryan Shah and Tan Soon Kiat.
There is no official data on rental scams. At the Consumers Association of Singapore, the number of cases it handles involving rental disputes, including ones that involve misleading claims or misrepresentation, has grown, rising to 231 last year, from 177 in 2007 and 123 in 2006, said executive director Seah Seng Choon.
Source : Straits Times - 16 Jan 2009
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2,000 flats being readied
MORE than 2,000 rental flats will be added to the supply of public housing early next year to help the needy.
The move was announced in Parliament by National Development Minister Mah Bow Tan in November 2006.
The first batch of converted flats - comprising 180 one- and two-room units in Block 852, Woodlands Street 83 - were allocated in January last year. In March, Blocks 188 and 191 in Boon Lay Drive were done.
In addition, 290 converted units at Redhill will be added to the supply this year.
An HDB spokesman told The Straits Times that toilets and kitchens were added and improved to the Boon Lay flats.
Each flat has new windows, vents, entrance doors and gates, and internal doors. Floors were retiled and the flats rewired. Elder-friendly features such as grab bars and lever taps were also incorporated.
‘Lifts and essential services in the common areas were upgraded to meet the needs of the increased number of residents,’ the spokesman added.
Mr Mah had said then that such flats would help ease the burden of those who are really needy.
‘This additional supply will help meet demand from lower-income Singaporeans who cannot afford or are not yet ready to buy their own flats,’ he said.
Apart from converting the three-room flats, HDB is also building 976 new rental flats at Choa Chu Kang, Sembawang and Yishun. The final batch will be ready by early next year.
JUDITH TAN
Source : Straits Times - 16 Jan 2009
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Singapore Private home sales hit new low
December sales of 131 new units cap the worst year since 1990
By Joyce Teo, Property Correspondent
ST PHOTO: STEVEN LEE
JUST 131 new private homes were sold last month, down from 193 in November, capping the worst year for new sales in Singapore since 1990.
There were only 4,287 homes sold last year - a striking plunge from the boom year of 2007 when a record 14,811 private home units changed hands.
At least it beat the low in 1990, when just 2,526 new private units were sold.
Developers have caught the miserable mood of the market and launched only 157 units of new private homes in December, according to Urban Redevelopment Authority (URA) data yesterday.
That was even lower than the 174 units in October, when buyers and sellers were in shock from the deepening global crisis.
Total launches last year were at a four-year low of 6,114 units, down 56 per cent from a record 14,016 in 2007, according to Colliers International.
Resale deals also fell, from 20,985 units in 2007 to between 7,400 and 7,600 homes. Sub-sale deals fell from 4,863 units in 2007 to between 1,600 and 1,650 units last year, according to CBRE Research estimates.
Yet despite the dreadful sales numbers, property prices held their own.
‘Developers generally withhold project launches to monitor the market situation, instead of resorting to drastic measures to reduce prices,’ said Knight Frank’s director of research and consultancy, Mr Nicholas Mak.
But with economic conditions subdued, home-seekers are increasingly realistic, looking now at functionality before frills, he said.
The URA price index, on the rise since the second quarter of 2004, reversed direction only from the third quarter last year when it declined 2.4 per cent.
Jones Lang LaSalle’s head of research for South-east Asia, Dr Chua Yang Liang, expects it to contract further by another 5 to 7 per cent this quarter on the back of weak take-up, after an estimated 5.7 per cent fall in the fourth quarter.
Buying interest should pick up when prices fall further, experts said.
‘Should more projects be attractively re-priced in 2009, the number of units launched and take-up can expect to sustain or marginally improve, as there is some latent demand from bargain hunters,’ said Mr Mak.
CBRE Research executive director Li Hiaw Ho added: ‘The continued moderation of prices should kick-start some level of activity to the market.’ Sales of new homes this year are likely to improve to around 5,000 to 6,000 units, he said.
But it will take some time to happen. There may be even fewer launches this month as developers are expected to continue to hold back in anticipation of goodies in next Thursday’s Budget, said Colliers International’s director for research and advisory, Ms Tay Huey Ying.
Many prospective buyers are preparing for Chinese New Year so sales this month may hit a new low, said Ms Tay.
Indeed, the entire first quarter or even the first half will likely witness slow sales due to the economy and banks tightening credit, property consultants said.
Last month’s top-seller was the 104-unit Newton Edge in Makeway Avenue, which sold 43 units at a median price of $1,200 per square foot.
Mr Li attributed the favourable interest to the affordable range of $500,000 to $900,000 for a majority of the units, which are 440 sq ft to 915 sq ft in size.
‘The units are a bit squeezy but you are paying less than a million for a property in Newton,’ said an industry player.
Source : Straits Times - 16 Jan 2009
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Home Team gears up for more crime in bad times
Key events, such as Apec summit, and IRs also pose challenges, says minister
By Li Xueying, Political Correspondent
SINGAPORE could see more law and order problems such as illegal immigration, smuggling and petty crime this year, as recession bites deeper and people become desperate.
Home Affairs Minister Wong Kan Seng said the Home Team is preparing for such an eventuality by beefing up its numbers and stepping up vigilance.
While tackling such problems on the ground, the ministry will also have its hands full on two other fronts: the Asia-Pacific Economic Cooperation (Apec) summit in November, and the integrated resorts (IRs) which are due to open in stages from this year.
Mr Wong, who is also Deputy Prime Minister, spoke to The Straits Times in a wide-ranging interview this week. This year marks his 15th at the helm of the Ministry of Home Affairs (MHA).
Noting that 2009 will be a tough economic year, Mr Wong said this could translate into more crimes, especially petty crimes such as theft, vice by foreign visitors, and loan-sharking activities.
Illegal immigration, especially from neighbouring countries, could increase, as these countries would also be in economic difficulties.
‘They too have a lot of foreigners who want to work in their country. They may have gone there illegally, or overstayed and cannot get jobs. Therefore they will find somewhere else to go,’ he said.
Many will make their way to Singapore: ‘Already, even with tight security measures, we detect them coming from across (the Causeway) and swimming in the waters (around Singapore). Thus we have to be more watchful.’
In 2008, MHA caught 2,387 illegal immigrants and 3,616 overstayers.
There is often a correlation between crime and economic conditions. During the 1998 Asian financial crisis, the number of crime cases rose 8 per cent over the previous year. During the 2003 Sars-induced recession, it rose by 5 per cent.
Economic growth for 2009 is officially forecast to range between -2 and 1 per cent. Retrenchments are expected to accelerate, potentially surpassing the 30,000 in 1998.
Mr Wong said that one way to deal with the potential increase in criminal activity this year is to increase manpower through recruitment.
A ministry job fair last month drew about 2,000 people for 1,050 vacancies.
‘We are now processing all that. Some offers have been made. The number is not very large because interviews take time. But the recruitment process is definitely on,’ he said.
The Home Team’s manpower shortage had led to officers feeling ‘over-stretched, strained and stressed’, Second Home Affairs Minister K. Shanmugam noted last year.
The upcoming Apec summit in November will be another big strain on Home Team resources.
Among the VIPs expected here will be the new United States President Barack Obama and Chinese President Hu Jintao.
One challenge for MHA is to ensure that the ’security of the event and its delegates is not breached by public order disruptions’, said Mr Wong.
Pointing to the terrorist attacks in Mumbai, India, last November, he said there was a lesson to be learnt from the episode, namely not to show footage of security operations on television.
Showing such footage ’sabotages the operations, putting the lives of officers at risk by alerting the terrorists’, he noted.
On another front, the Home Team is also gearing up to tackle crime related to gambling and casinos when the Integrated Resorts open.
A police centre will be set up in the Marina Bay area. The police’s Criminal Investigation Department will also start a Casino Investigation Branch to deal with crimes specific to the IRs.
‘Just as there will be people looking for a flutter at the tables, we also know that there will be others who want to make money there too, in other ways, not at the gaming table,’ he said.
This may range from vice workers to unlicensed moneylenders: ‘So the police will need to keep a watchful eye on such categories of people.’
Source : Straits Times - 16 Jan 2009
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Citi economist expects modest recovery in 2010
Risk of temporary deflation real, but might help restore price competitiveness
By TEH SHI NING
RECOVERY from this recession should come in 2010, but will likely be gradual, Citi economist Kit Wei Zheng said at a Citigroup seminar yesterday.
This year, Mr Kit expects the economy to shrink 2.8%, with a record contraction this quarter of 6 to 8%, and two more contracting quarters before a gradual expansion in Q4.
Unlike a few other private sector economists’ predictions of a V-shaped rebound for the Singapore economy, Mr Kit expects real GDP growth in 2010 to be a modest 3.8 per cent.
This is smaller than BNP Paribas’ expectation of a 4.4 per cent growth, and HSBC economist Robert Prior-Wandesforde’s even more optimistic prediction of 5.5 per cent growth next year.
But Deutsche Bank’s estimation of 2.5 per cent growth for Singapore’s economy next year falls below Citi’s predicted tepid recovery.
This year, Mr Kit expects the economy to shrink 2.8 per cent, with a record contraction this quarter of 6 to 8 per cent, and two more quarters of contraction before it reverts to a gradual expansion in Q4.
OCBC, BNP Paribas and HSBC all share Citi’s forecast of a 2.8 per cent contraction in 2009, while Deutsche Bank suggests a more bearish 4.5 per cent contraction.
The official forecast ranges from a 2 per cent contraction to one per cent growth.
Economists have pointed to deflation as an emerging threat this year.
Says Mr Kit: ‘The risk of temporary deflation in 2009 cannot be ruled out, depending on the duration and depth of the recession.’
However, he added that ‘this may not be such a bad thing if it restores price competitiveness’, given that Singapore’s domestic inflation outpaced foreign inflation last year, eroding cost competitiveness.
Citi still expects a $4 billion Budget deficit to be announced on Jan 22, and a possible total fiscal stimulus of up to $18-24 billion (8 to 9 per cent of GDP) this year, if off-Budget measures are included.
Mr Kit felt that market expectations regarding the Budget ‘may be overly aggressive’ and may lead to disappointment.
He said that the government needs to run a balanced Budget over the electoral cycle and could choose to ’save its fiscal bullets for election’ or for ‘incremental fiscal easing’ later in the year.
Looking beyond the near term, Mr Kit pointed to possible ‘post-crisis’ structural challenges that Singapore’s economy will have to face, earlier highlighted in a Citi report in December.
Deeper issues such as the ‘disappearance of demand’ due to export reliance on a crisis-hit US, Europe and Japan, competitive pressures on tech exports, and a widening income gap may be brought to the fore during this recession, he said.
Source : Business Times - 16 Jan 2009
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Developer sales plumb new depths - Singapore
Home sales hit record lows in 2008 but new launches are on the cards
By ARTHUR SIM
(SINGAPORE) The year gone by was one to forget for developers as they managed to sell just 4,351 homes in 2008, representing the lowest figure in at least 10 years - diving beyond the previous troughs of 5,156 and 5,520 units in 2003 and 1998 respectively.
The sales in 2008 were also significantly lower than the annual 10-year average (1998-2007) of 8,200 units.
Developer sales fizzled out in the last month of 2008, registering just 131 transactions - less than five a day.
The number of projects with licences for sale in December has, however, risen to 8,350 units, up from 6,512 units in the previous month.
Only 157 new homes were launched in December, the lowest figure since developer data was made available in mid-2007. CBRE Research executive director Li Hiaw Ho said: ‘This shows that developers kept their launch activity to a minimum as they monitored the market.’
But not all developers held back.
Macly Capital sold 43 units of the 104-unit Newton Edge on Makeway Avenue at the median price of $1,200 psf. Mr Li said the strength of the project lay in the affordable quantum of $500,000 to $900,000 for a majority of the units due to their small sizes ranging from 440-915 sq ft.
Pricing is likely to have been a factor also. An earlier report by UBS noted that Newton Edge was priced lower than VIVA at Suffolk Walk nearby, where 15 units were sold in Q3 2008 for around $1,550 psf.
Hayden Properties’ The Ritz-Carlton Residences in Cairnhill also chalked up healthy sales at what appeared to be discounted prices. Eight units were sold at a median price of $3,086 psf.
Hayden Properties director (sales and marketing) David Neubronner revealed that the buyers comprise project shareholders and directors, with just one third-party transaction.
‘The purchase prices by the related parties are preferential rates, and the purchase price paid by the third party reflects current market pricing,’ he said.
Mr Neubronner added that the unit purchased by the third party is located on a lower floor and was priced at $3,700 psf, which is only an 8 per cent decrease from the initial launch price of $4,000 psf.
Colliers International director for research and advisory Tay Huey Ying noted that mid-tier projects in the Rest of Central Region (RCR) dominated launches in December, accounting for 72 per cent of the units launched during the month. ‘This, following the domination of high-end projects in recent months, could be an indication of the weakening holding power among small and mid- tier developers,’ she added.
RCR projects that sold in the month include 10 units at Nova 88 at a median price of $988 psf and nine units of The Aristo @ Amber at a median price of $1,002 psf.
‘This decline in demand has led to the contraction in the islandwide URA property price index (PPI) of some 5.6 per cent as the market attempts to generate more activity through price reductions,’ said Jones Lang LaSalle local director and head of research (South East Asia) Chua Yang Liang. ‘Historically, take-up has been leading the PPI. On the back of this contraction in take-up in Q4′08, we can expect the PPI to contract further, possibly by another 5-7 per cent in Q1′09,’ he said.
Nevertheless, some developers have been continuing to prepare developments for launch.
UOL is expected to launch a 646-unit development at Simei Street 4 billed as a luxury condominium for upgraders in the first half of 2009.
Frasers Centrepoint is also preparing to launch a development on Boon Lay Way. A spokesman said: ‘Caspian, our 712-unit development on Boon Lay Way, is launch-ready. At this point, we are still finalising several details, with regard to the actual launch period, pricing, etc, and will announce them once we are ready.’
It is also understood that Far East Organization is preparing to launch a development in Choa Chu Kang this year.
Notably, all developments are in the Outside Central Region where property prices are not expected to fall as significantly as in the mid-tier and high-end segments.
Source : Business Times - 16 Jan 2009
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