FINALLY, AN END TO PRIVATE FIRMS SHARING YOUR DATA?

FINALLY, AN END TO PRIVATE FIRMS SHARING YOUR DATA?

Government to introduce data protection law early next year

by Leong Wee Keat

Singapore – Relief may finally be in sight for consumers who are fed up with their personal data being flogged to private companies.

The Government will introduce a data protection law early next year, some seven years after a review of the Republic’s data protection regime was initiated.

The timeline was given by Minister for Information, Communications and the Arts Lui Tuck Yew in a written reply to Ang Mo Kio GRC MP Lee Bee Wah’s parliamentary query which was tabled during Monday’s Parliament session.

The minister added the proposed law is intended to “curb excessive and unnecessary collection of individuals’ personal data by businesses, and include requirements such as obtaining the consent of individuals to disclose their personal information”.

While it is not illegal to solicit personal data or to telemarket, concern has grown over data privacy – specifically how data is being obtained and sold.

Last month, for example, MediaCorp received a company’s offer of 10,000 emails of key Government and ministry officials at a price of S$1,000. Around 10,000 top management executives’ personal details were also offered for S$6,000.

In 2006, the Government had revealed that it had started examining the issue in November 2004. It formed an inter-ministry panel in October 2005, including representatives from ministries such as Trade and Industry, Finance and Home Affairs, as well as from other Government entities such as the Monetary Authority of Singapore.

Adding that the review has been completed, Mr Lui said: “The Government has concluded that it would be in Singapore’s overall interests to put in place a data protection regime, in order to protect individuals’ personal data against unauthorised use and disclosure for profit.”

The Infocomm Development Authority of Singapore (IDA), which is tasked to coordinate the effort, expects to release details of the proposed framework for consultation towards the end of this year.

Mr Bryan Tan, director of law firm Keystone Law Corporation, felt the proposed law could potentially apply to existing databases as well.

Mr Tan told MediaCorp: “A database is not a stagnant item – it grows and gets updated. Hence, these databases would over the course of time require updating and, accordingly, compliance.”

But technology lawyer Bryan Ghows noted that it was “logistically not possible” to go back to individual consumers on existing databases to ask for their consent to use their personal information. Thus, he thinks there may be a transition period. After which, “companies cannot use their existing data unless there is express consent”, said Mr Ghows.

Technology and telecommunications lawyer Rajesh Sreenivasan felt the Government would have to balance between protection of personal data and compliance costs for businesses when drafting the new law. He felt the proposed data protection law is “a win for all stakeholders” – consumers’ personal data will be better protected by businesses, while companies involved in cloud computing and data hosting services would receive better protection.

Mr Lui said a data protection council would be set up subsequently to oversee the implementation of the legislation. In the interim, the IDA said data would continue to be protected under sector-specific laws such as the Banking Act, Statistics Act and Official Secrets Act and common law.

Said an IDA spokesperson: “In addition, the Model Data Protection Code introduced in 2002 for voluntary adoption by the private sector will also govern the use of personal information by the Government and other companies who have adopted it.”
Source : TODAYonline – MediaCorp Press Ltd’s copyright

THE AVERAGE WAITING TIME FOR BTO FLATS IS LONGER THAN 3 YEARS »« Private home sales fall to three-month low

Private home sales fall to three-month low

Private home sales fall to three-month low

By Jonathan Peeris and Jo-ann Huang | Posted: 15 February 2011

SINGAPORE: Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller’s stamp duty for sales in the first year.

Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month.

This is an 10.7 per cent month-on-month drop from the 1,332 units sold in the previous month. It is also the lowest monthly sales figure since October.

Analysts said the decline was expected as the new cooling measures have injected some caution into the property market.

“The immediate reaction then was that perhaps property prices might take a slight dip, so why not wait for a while and see how the market reacts. If the prices do come down, then they should invest when the market is cheaper,” said Ku Swee Yong, CEO of International Property Advisor.

But mass market homes in the suburban areas are still the most popular.

Suburban properties chalked up the most sales with 588 units sold, while 200 units in the central area were sold last month.

As for city fringe areas, 401 units were sold.

In December, some suburban homes saw record-high prices of S$1,500 per square foot.

But the number of homes sold at such price levels fell 13 per cent last month.

“It does indicate that the cooling measures in January have some impact already because these people who are buying in the mass market category are probably now a little bit circumspect and re-examining their investment strategy,” said Ku.

Despite the cooling measures, analysts said demand will remain strong going forward.

They expect home sales to hold steady in the next two to three months.

“Even though February only has 28 days with Chinese New Year for the first two weeks, close to 500 units were being sold. With another two weeks to go, more launches are expected. I do expect sales for February to exceed 1,000 units, and March and April will be healthy again,” said Mohamed Ismail, CEO of PropNex.

Analysts said the full impact of the cooling measures will only be felt after March this year.

A total of 1,238 units were launched in January.

- CNA/fa/ls

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

FINALLY, AN END TO PRIVATE FIRMS SHARING YOUR DATA? »« HDB receives 7 bids for Punggol Central mixed site

HDB receives 7 bids for Punggol Central mixed site

HDB receives 7 bids for Punggol Central mixed site

Posted: 15 February 2011

SINGAPORE : Joint tenderers Emerald Star and FC Retail Trustee have submitted the highest bid of S$1.021 billion for a mixed commercial and residential site at Punggol Central/Punggol Walk.

The Housing and Development Board (HDB) received a total of seven bids at the close of its tender on Tuesday.

The 29,999 square metre site is being offered for sale on a 99-year lease.

It has a maximum gross floor area of 125,997 square metres, which can yield an estimated 685 dwelling units.

The top bid of S$1.021 billion for the land parcel translates to about S$8,103 per square metre per gross floor area.

The next highest bid of S$849.8 million came from the Punggol Retail Development and Qingdao Construction joint venture, followed by a S$786 million joint bid by Keppel Land Realty and K-Commercial Management.

The lowest bid of S$250 million was submitted by Mezzo Development.

The land parcel was launched for public tender on November 30 last year.

HDB said it would evaluate the bids and announce the final tender results at a later date.

Analysts said the site’s proximity to the Punggol MRT station was among its main draws.

It will be the first mixed development to be constructed by private developers and its potential to be developed as the first shopping centre in Punggol could give the developer the “first mover advantage in this area,” said Mr Nicholas Mak, executive director at the Research & Consultancy Department of SLP International Property Consultants.

He said the top bid submitted by the Frasers Centrepoint group translates to a land price of $753 per square foot (psf) of potential Gross Floor Area (GFA) and is 20.1 per cent higher than the second highest bid from the consortium led by the Qingdao Construction group.

Mr Mak said the maximum allowable GFA is some 1.356 million sq ft, from which a maximum of 40 per cent or 542,488 square feet can be used for commercial purpose.

The remaining space of about 813,732 square feet could be developed into about 700 apartments, he added.

- CNA/al

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Private home sales fall to three-month low »« Couples Frustrated By Long Wait For Flats Under SBF Exercise

Couples Frustrated By Long Wait For Flats Under SBF Exercise

Couples Frustrated By Long Wait For Flats Under SBF Exercise

by Ong Dai Lin

SINGAPORE – It was their third time balloting for an HDB flat. So, the administrative executive and her fiance were overjoyed when they were given a queue number for the Sale of Balance Flats (SBF) exercise last August to select a flat in Punggol.

Early last month, however, the couple still had not received a selection date for a flat and were getting worried.

“We were frustrated because we were logging on every day into the system to see if a selection date was given. We tried calling the HDB but we were told to wait because they only had a tentative schedule,” said Ms Tan, 26, whose wedding banquet had been booked for the third quarter of this year.

She and her fiance have since received a selection date and Ms Tan expects to get her flat keys within three months.

But she added: “I’m worried the flat will not be ready in time. If not, we will just stay apart first.”

Applicants of the SBF exercise who were still waiting for their flat selection dates in January told MediaCorp that the blind wait made it hard for them to take leave in advance for the selection date or to make travel plans.

The anxiety heightens when they see applicants of some build-to-order (BTO) launches – held after the SBF exercise – selecting their flats.

One SBF applicant, Ms Low, 25, said: “People are waiting for SBF is because they can’t wait that long for BTO flats. I understand that BTO exercises need sufficient (number of) subscriptions to proceed and that’s why they (HDB) are putting more emphasis on it but it doesn’t mean that SBF can take a back seat for so long.”

She had applied for a flat in Sengkang with her boyfriend of six years and said she would have to plan her solemnisation ceremony according to when she can get a flat.

She also received a selection date late last month.

Another SBF applicant, 26-year-old chemist who is planning to get married next year, said: “I can’t be sure if I can get the units I want. If I can choose my flat earlier, I will know roughly when is the completion date and, hence, plan for things like renovation.”

The HDB told MediaCorp that the selection period for each SBF exercise varies, depending on the number of flats offered, towns/flat-categories offered for sale and the response of the applicants.

An SBF exercise generally needs more time to complete than a BTO exercise because of its high application numbers and the number of “queues” in each exercise, said a spokesperson.

“The larger number of applicants for SBF exercises, therefore, lengthens the time needed to complete the processing, which includes eligibility checks on the applicants, the balloting process and notifying applicants of the results.”

The HDB said it received 11,500 applications for the 1,624 units of flats offered under the SBF exercise.

It added it was doing its best to complete each selection exercise quickly, including extending operation hours.

Since last January, the HDB has been conducting selection exercises after office hours on weekdays from 5.30pm to 8pm, and on Sundays from 8am to 5pm.

The HDB also first schedules the selection exercise for completed flats with available keys to allow applicants who select a flat to collect their keys earlier.

As of end January, about 80 per cent of the selection exercises had been completed, said the HDB.

The SBF exercise was launched in October 2009 to simplify the flat application process and provide buyers with a wider choice of flats across a range of locations in one exercise.

It offers flats from earlier BTO exercises, the Selective En-bloc Redevelopment Scheme and repurchased flats. The exercise is launched when sufficient flats accumulate.

If it is a completed flat, an applicant can collect the keys within three months. If not, the keys can only be collected when the flat is completed.

Source : TODAYonline – MediaCorp Press Ltd’s copyright

HDB receives 7 bids for Punggol Central mixed site »« Property measures aimed at encouraging financial prudence: Mah

Property measures aimed at encouraging financial prudence: Mah

Property measures aimed at encouraging financial prudence: Mah

By S Ramesh | Posted: 14 February 2011

SINGAPORE : National Development Minister Mah Bow Tan has said the government will continue to monitor the property market closely and take further steps, if necessary, to promote a stable and sustainable property market.

Replying to a question in Parliament on Monday, he explained that despite the large supply in the pipeline, market sentiments had remained bullish, with signs of renewed exuberance in the market at the end of last year and the majority of the buyers being Singaporeans.

Mr Mah said the government was particularly concerned that low interest rates plus excessive liquidity in the financial system, both in Singapore and globally, could further drive up demand for private housing.

And this could in turn cause prices to overshoot economic fundamentals.

Furthermore, purchasers who over-extended themselves financially may be caught when interest rates eventually rise, and they may be forced to sell their properties at an inopportune time.

Thus the government had introduced additional measures in January this year to preempt a property bubble from forming.

Mr Mah said these measures aimed to temper demand and encourage greater financial prudence among property purchasers.

- CNA/al

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Couples Frustrated By Long Wait For Flats Under SBF Exercise »« Clementi flats to be redeveloped

Clementi flats to be redeveloped

Clementi flats to be redeveloped

Posted: 13 February 2011

SINGAPORE: The government will be redeveloping three blocks at Clementi Ave 5 that are more than 30 years old, under the Selective En Bloc Redevelopment Scheme (SERS).

They are blocks 321, 322 and 323 which comprise 374 flats.

To rehouse the residents, the Housing Development Board (HDB) will build 500 units of new two- to five-room replacement flats at Clementi Avenue 3.

The new flats are expected to be completed in mid-2016.

HDB will inform all SERS flat owners individually.

Since the SERS scheme was implemented in 1995, more than 70 sites have been identified for redevelopment.

-CNA/wk

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Property measures aimed at encouraging financial prudence: Mah »« HDB survey shows strong support for SERS

HDB survey shows strong support for SERS

HDB survey shows strong support for SERS

Posted: 11 February 2011

SINGAPORE: The Housing Board of Development (HDB) said its latest survey among HDB residents offered the Selective En Bloc Redevelopment Scheme (SERS) revealed continued strong support for the scheme.

Among the 949 households surveyed, close to 95 per cent expressed support for SERS.

This is the highest level of support since HDB started the bi-annual survey in 2001.

The survey showed that residents are happy that SERS allows them to continue living in the same estate close to their familiar neighbours.

Almost all the households surveyed expressed a strong sense of belonging to their community.

HDB said one in five households also indicated that their family life had improved, attributing it to a new spacious flat and a better living environment.

The number of households who find their new flats value for money also increased from 89 per cent in the 2007 survey to 97 per cent in the latest 2009 survey.

- CNA/fa

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Clementi flats to be redeveloped »« URA to end use of misleading showflats

URA to end use of misleading showflats

URA to end use of misleading showflats

By Travis Teo | Posted: 08 February 2011

SINGAPORE: The Urban Redevelopment Authority (URA) has plans to clamp down on developers who use misleading showflats to lure flat buyers.

Replying to queries from Channel NewsAsia, URA said it is reviewing the law — the Housing Developers (Control & Licensing) Act and Housing Developers Rules — governing housing developers so that flat buyers have more accurate information on housing projects.

According to analysts, misrepresentations could include missing structural walls and rooms that look larger than what buyers will eventually get.

SLP International research head Nicholas Mak said: “In order to make some of their smaller apartments larger than what they are in the show flat, (developers) may exercise certain creative interior design”.

Mr Mak said this includes replacing a partition wall with a glass door.

A local newspaper reported Tuesday that the new rules would ensure developers display showflats with all their structural walls and columns and with accurate ceiling height.

Other likely regulations include clearly marking out the divide between the balcony and living rooms, and using walls that have the same thickness as in the actual apartment.

Bomb shelters, when required, are also reportedly required to be present in the showflats.

ERA Realty Network key executive officer Eugene Lim said: “This is probably triggered by consumer feedback that some consumers cannot visualise what they are actually buying and what is being offered in the showflat.

“And not everyone can read a floor plan and look at the showflat and see the difference”.

Market watchers said new rules would be a step in the right direction as showflats are key to the purchase decision.

Said Mr Mak: “I think the authorities will probably monitor the situation once the rules are firmed up and if there are any developers who flout the rules they could perhaps start off by being served with (a) warning letter.

“Later on, (penalties could come in the form of) a fine or even something more drastic such as the authorities (not allowing developers) to sell their product”.

URA said proposed amendments to the law would help flat buyers make better decisions.

More details will be shared in March when a public consultation will be launched.

-CNA/wk

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

HDB survey shows strong support for SERS »« URA Review To Ensure Showflats Paint An Accurate Picture

URA Review To Ensure Showflats Paint An Accurate Picture

URA Review To Ensure Showflats Paint An Accurate Picture

by Travis Teo

SINGAPORE – The Urban Redevelopment Authority (URA) said yesterday it would be reviewing some laws to ensure housing developers provide buyers accurate information on projects and would launch next month a public consultation on the proposed amendments.

Analysts welcomed the move, noting the growing number of complaints from home purchasers about developers, especially about the use of misleading showflats to lure buyers.

Mr Colin Tan, head of research and consultancy at Chesterton Suntec International, said: “Developers have learnt successfully to create the impression of spaciousness, quality and grandeur beyond their actual dimensions and quality. They have been pushing the envelope of what is acceptable as clever marketing and that which is totally misleading.”

Mr Tan said developers who played by the rules would welcome the amendments to the laws. “But, in a very bullish market, some investors don’t even come down to the showflat. They just make their decisions based on the sales brochure,” he said.

Replying to queries from MediaCorp, the URA said it was “currently reviewing the Housing Developers (Control & Licensing) Act and Housing Developers Rules”.

The URA said the review was with the aim of simplifying licensing requirements for developers and providing more accurate and transparent information on housing projects to facilitate home purchasers in making better decisions.

“More details will be shared in March when URA launches a public consultation on the proposed amendments,” the URA said.

A spokesperson for City Developments said: “We welcome the proposed new guidelines on showflat representations as this will lead to greater clarity within the industry by reducing potential incidences of misunderstanding. The new guidelines will benefit the home buyers, as they will be able to make informed purchases and developers will find it easier to construct showflats with greater clarity.”

The Business Times reported yesterday that the new rules would ensure developers display showflats with all the structural walls and columns and with accurate ceiling heights. Other likely regulations would include clearly marking out the divide between the balcony and living rooms, and using walls that have the same thickness as in the actual apartment.

Mr Donald Han, vice-chairman of property consultancy Cushman & Wakefield, Singapore, said: “For the buyers, they must know what they are getting beyond the interior cosmetics. And for the developer, showing actual beams, thickness of walls, demarcations of balcony, ceiling heights, etc, reduces any accusation of misrepresentation by buyers.”

Source : TODAYonline – MediaCorp Press Ltd’s copyright

URA to end use of misleading showflats »« Govt Reviewing Baby Bonus

Govt Reviewing Baby Bonus

Govt Reviewing Baby Bonus

by Hetty Musfirah Abdul Khamid

SINGAPORE – The Government is reviewing the Baby Bonus scheme, which helps married couples to defray the financial costs of having more children.

MediaCorp has learnt that a survey of some 3,000 beneficiaries is in the works, coming at a time when Singapore’s fertility rate is at a record low.

The Community Development, Youth and Sports Ministry will undertake the survey between April and June to learn how satisfied parents have been with the operational processes and implementation of the scheme, which was introduced in 2001 and enhanced twice in 2004 and 2008.

Observers welcomed the move, but said there should be more comprehensive processes and stronger provisions.

For instance, Professor Gavin Jones, research leader of Asia Research Institute at the National University of Singapore, would like the survey extended to singles and couples without children yet, to get their perceptions of whether such a scheme would make any difference to marriage or child bearing.

Under the Baby Bonus scheme, which is part of the enhanced Marriage and Parenthood Package that aims to encourage couples to get married and have children, parents are given up to $4,000 each for the first and second child and $6,000 each for the third and fourth child.

The Government also matches dollar-for-dollar when parents contribute to their child’s Children Development Account, capped at a $6,000 matching sum each for the first and second child, $12,000 each for the third and fourth child and $18,000 each for the fifth and subsequent child.

About $230 million in baby bonus payments was given out in 2009, up from $55 million in 2004. But there was no corresponding increase in the total fertility rate, which plummeted further from the replacement rate of 2.1 to 1.16 last year.

Prof Jones said it was time to consider bolder measures, such as free childcare or paternity leave.

“Some European countries with higher birth rates and a higher proportion of women in the workforce allow paternity leave. They allow parents to choose (which spouse takes time off), quite a radical thing that hasn’t been done in Singapore – recognising the husband’s role in child rearing,” he said.

The low birth rate will feature in the upcoming Budget debate, with Government Parliamentary Committee (Community Development, Youth and Sports) chairman Seah Kian Peng set to raise the topic.

“The issue of low TFR (Total Fertility Rate) is a very serious one, so I think we need to think more out of the box, try new things. Some may work, some may not, but I think we should really venture out of the current schemes … and really adopt a whole-of-Government approach, from housing to paternity and maternity leave and certainly the baby bonus scheme,” he said.

One out-of-the-box idea, he suggested, was to give parents who have more children priority for upgrading to a bigger flat.

Source : TODAYonline – MediaCorp Press Ltd’s copyright

URA Review To Ensure Showflats Paint An Accurate Picture »« S’POREANS SATISFIED WITH THE QUALITY OF LIFE: SURVEY