Another 50 Trevista units snapped up

Another 50 Trevista units snapped up

By Joyce Teo

Prospective buyers checking out Trevista units on the first preview day of Aug 28. — ST PHOTO: MUGILAN RAJASEGERAN

NTUC Choice Homes sold another 50 units at its Toa Payoh condo Trevista over the weekend, taking the total number of units sold there to 460.

The remaining units at the 590-unit condo are mainly larger ones - continuing a trend where buyers snap up smaller homes.

Trevista attracted hordes of keen buyers and onlookers at its preview two weekends ago. It sold out 210 units in one afternoon, on the first preview day of Aug 28.

Most of the unsold units at the 99-year leasehold project are the three- and four-bedroom units. An NTUC Choice Homes spokesman said there are just ‘a handful’ of two-bedroom units left for sale.

The 39-storey condo was previewed at an average price of $898 per sq ft. At that time, the three- and four-bedroom units averaged $1.065 million and $1.43 million respectively, under the normal payment scheme.

Now, the remaining three-bedders are priced from $1.008 million. They cost $884 psf to $1,050 psf. The four-bedders are priced from $850 psf to $964 psf, or from $1.448 million.

Elsewhere, sales are still ongoing at current launches. For instance, developer Keppel Land has now sold 37 out of 56 units at Madison Residences in Bukit Timah Road at an average price of $1,700 psf, after selling another unit over the weekend.

The project was launched in the middle of last month, after a brief preview.

The market was generally quieter over the past weekend, compared with the previous one.

Property agents said one factor might be people going away for the school holidays. Also, they said some price resistance may be setting in, particularly at projects subject to recent price rises.

Next week, The Trizon @ Mount Sinai, which has sold at least 110 units, will be launched. The project was previewed late last month at $1,300 psf to $1,500 psf.

Next month, the 1,040-unit The Interlace in Alexandra Road will be launched. Other possible launches this year include the 119-unit Elliot at The East Coast and a 396-unit condo on the former Hong Leong Gardens site in West Coast.

Source : Straits Times - 08 September 2009

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Abu Dhabi fund offers $5.6b for Chartered

Abu Dhabi fund offers $5.6b for Chartered

Temasek accepts bid for struggling chip-maker; no big layoffs expected

By Chua Hian Hou

A CASH-RICH Middle East sovereign wealth fund has made a $5.6 billion bid to acquire home-grown chip-maker Chartered Semiconductor.

The takeover of Chartered - the world’s third largest chip-maker - is the biggest merger and acquisition involving a Singapore company since 2001 when United Overseas Bank acquired Overseas Union Bank.

Abu Dhabi government-owned Advanced Technology Investment Company (Atic) is offering $2.68 a share for Chartered - which operates six chip-making facilities here employing 6,000 workers.

Temasek Holdings, which is Chartered’s single largest shareholder with a stake of 62 per cent, has agreed to accept the offer.

Analysts said the takeover was not surprising as the foundry industry has been struggling with excess capacity, exacerbated by the global economic slowdown.

To stay in the game, chip-makers need economies of scale and the way to achieve this is to merge with other players.

Chartered chairman Jim Norling also stressed the importance of scale and the need for substantial, continued capital investment. For example, it costs about US$5 billion (S$7.1 billion) to build a new chip-making plant.

Chartered chief executive Chia Song Hwee welcomed the offer, adding that Atic’s takeover would not lead to ‘major redundancies’.

The deal would release additional resources for the 22-year-old company, he added, allowing it to increase capacity at one of its facilities at some stage in the future.

On its own, Chartered has been struggling with low margins and excess capacity.

It has haemorrhaged cash over the last few years and was forced to retrench 500 employees here earlier this year in the face of faltering demand.

For its most recent quarter ended June 30, it reported a US$39.4 million loss.

Under the deal, Atic will pay $2.5 billion for the shares and assume $3.1 billion in debt and convertible redeemable preference shares.

The plan is to have Chartered’s operations integrated with Atic’s chip-making arm, Globalfoundries, which has plants in Germany and one under construction in New York. In future, the two companies may be merged.

Atic paid US$2.1 billion earlier this year for a 55.6 per cent stake in Globalfoundries, a joint-venture with another chip-maker, Advanced Micro Devices.

Combined, Chartered and Globalfoundries would become the world’s second largest chip-maker by capacity, overtaking current No. 2 United Microelectronics Corp (UMC).

However, it would still lag behind Taiwan Semiconductor Manufacturing, the world’s largest chip-maker.

Globalfoundries chief executive Douglas Grose - who is slated to head the combined firm alongside Chartered’s Mr Chia as chief operating officer - said there would be significant synergies with Chartered.

With Temasek’s acceptance in the bag, Atic is just 13 per cent shy of the 75 per cent approval needed from shareholders to close the deal.

Atic intends to make Chartered a wholly-owned subsidiary and delist the company from the Singapore Exchange (SGX) and the American Nasdaq exchange.

Chartered was listed on the SGX in 1999. Its shares are also traded on the Nasdaq.

Singapore’s 14 chip-makers produce nearly 11 per cent of the world’s computer chips and provide jobs for 40,000 workers.

Companies such as UMC, Chartered, Systems on Silicon Manufacturing Company, and Siltronic transform eight-inch diameter silvery silicon ‘torpedoes’ into the computer chips that run mobile phones, games consoles and computers.

Chartered shares closed down 7 cents at $2.59 yesterday.

Source : Straits Times - 08 September 2009

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82 Bayshore Road For Sale

82 Bayshore Road For Sale

District: 16 ( Bayshore, Bedok, Siglap, Upper East Coast Rd, Eastwood, Kew Dr )
Status: Available
Property Type: Condominium
Asking Price: $ 1,080,000
Bedroom: 2
Bathroom: 2
Family/Hall: 1
Guest: 1
Built up: 947 sq. ft.
Fixtures: kitchen cabinet & build in wadrobe
More Fixtures:
Living: Marble
Dining: Marble
Bedroom: Parquet
Kitchen: Ceramic
Facing: seaview, greenary, un blocked,
Appointment : Name Ur Timing
Amenities: bus to mrt, food court
Facilities: Swimming Pool, Jacuzzi, Sauna, Playground, Gymnasium, Tennis Court, BBQ, Putting Green, Meeting Rooms, Basement Parking, Security 24hr, www.kfproperty.com, high flr , seaview, unblocked,vacant
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Corona Ville @ 35 Jln Haji Alias For Sale

Corona Ville @ 35 Jln Haji Alias For Sale

District: 10 ( Ardmore, Bukit Timah, Farrer, Holland, Tanglin Rd )
Status: Available
Property Type: Condominium
Asking Price: $ 1,390,000
Tenure: Freehold
Bedroom: 3
Built up: 1528 sq. ft.
Appointment : Name Ur Timing
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Southaven II @ 31/33/35/37 Hindhede Walk For Sale

Southaven II @ 31/33/35/37 Hindhede Walk For Sale

District: 21 ( Upper Bukit Timah, Ulu Pandan )
Status: Available
Property Type: Condominium
Asking Price: $ 1,450,000
Tenure: 999 years
Bedroom: 4
Built up: 1800 sq. ft.
Appointment : Name Ur Timing
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Braddell View @ 10A Braddell Hill For Sale

Braddell View @ 10A Braddell Hill For Sale

District: 11 ( Novena, Newton, Thomson, Watten Estate )
Status: Available
Property Type: Condominium
Asking Price: $ 1,050,000
Bedroom: 3
Built up: 1700 sq. ft.
Appointment : Name Ur Timing
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La Suisse II @ Swiss View For Sale

La Suisse II @ Swiss View For Sale

District: 11 ( Novena, Newton, Thomson, Watten Estate )
Status: Available
Property Type: Condominium
Asking Price: $ 2,250,000
Tenure: 999 years
Bedroom: 3
Built up: 2200 sq. ft.
Appointment : Name Ur Timing
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Balestier Plaza @ 400 Balestier Road For Sale

Balestier Plaza @ 400 Balestier Road For Sale

District: 12 ( Balestier, Serangoon, Toa Payoh )
Status: Available
Property Type: Condominium
Asking Price: $ 1,100,000
Tenure: Freehold
Bedroom: 3
Built up: 1650 sq. ft.
Appointment : Name Ur Timing
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Soleil @ Sinaran @ 2/6 Sinaran Drive For Sale

Soleil @ Sinaran @ 2/6 Sinaran Drive For Sale

District: 11 ( Novena, Newton, Thomson, Watten Estate )
Status: Available
Property Type: Condominium
Asking Price: $ 1,292,000
Tenure: 99 years
Bedroom: 2
Bathroom: 2
Built up: 936 sq. ft.
Facilities: Swimming Pool, Wading Pool, Jacuzzi, Sauna, Playground, Gymnasium, Tennis Court, BBQ, Meeting Rooms, Basement Parking, Security 24hr
Appointment: Name Ur Timing
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The Waterside @ Tg Rhu Road For Sale

The Waterside @ Tg Rhu Road For Sale

District: 15 ( Amber Rd, Joo Chiat, Katong, Marine Parade, Meyer, Tanjong Rhu )
Status: Available
Property Type: Condominium
Asking Price: $ 3,600,000
Tenure: Freehold
Bedroom: 5
Bathroom: 5
Family/Hall: 1
Guest: 1
Utility: 2
Built up: 2411 sq. ft.
Fixtures: air-cond & built-in wardrobe in every bedroom
More Fixtures:
Living: Marble
Dining: Marble
Bedroom: Wood Strip
Kitchen: Tiles
Facing: South-East & Sea facing, No hot p.m. sun
Appointment: Name Ur Timing
Facilities: Swimming Pool, Wading Pool, Whirlpool, Jacuzzi, Sauna, Playground, Gymnasium, Tennis Court, Basketball Hoop, Badminton Lawn, Squash Court, Jogging Track, BBQ, Meeting Rooms, Basement Parking, Security 24hr, mini-mart well stocked with daily necessities, offering convenient of grocery shopping at your door step !
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