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S’pore to offer high-speed trading
2008-05-21 03:56:00
S’pore to offer high-speed trading SGX, SingTel to head for London to market new service to key players By SIOW LI SEN THE Singapore Exchange has partnered Singapore Telecommunications to offer high speed trading that is expected to draw more sophisticated proprietary traders such as hedge funds to the market here. It’s a deal: Mr Chang (left) and Mr Gan at a joint media briefing yesterday by their respective companies, which declined to reveal their investment costs or revenue sharing arrangements By August, global investors will have ultra-low latency trading access or sub-millisecond access to the SGX securities and derivatives markets. Latency is the time lag between the moment an order is initiated to confirmation. One thousand milliseconds equal one second and currently access is between 4 and 20 milliseconds. The new service, the first in Asia, is responding to demand from a growing segment of algorithmic and proprietary traders who are beginning to establish a s...
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Foreign unis bet big on a Singapore school
2008-05-21 03:52:00
Foreign unis bet big on a Singapore school Private education initiative sees campuses sprout here to tap growing pool of Asian students By LEE U-WEN (SINGAPORE) Singapore’s private education pie has become tempting enough to lure several foreign universities to plant their colours here. Just this month, Scotland’s 133-year-old Queen Margaret University became the first UK university to open a full campus overseas - a $38 million facility located off Balestier Road. In March, Perth’s Curtin University of Technology announced it would do what fellow Australian institution, the University of New South Wales (UNSW), could not accomplish: set up a campus here by year’s end. While these are privately funded projects, the Economic Development Board (EDB) has been wooing the biggest names in education under its Global School house initiative. To date, 16 major foreign universities have become part of the six-year- old programme. Seven have set up a full campus here (...
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Singapore Home rates going back to 2003 levels? Not quite
2008-05-20 04:04:00
Singapore Home rates going back to 2003 levels? Not quite Falling interbank rates won’t automatically mean a throwback to the past By QUAK HIANG WHAI (SINGAPORE) Singapore interbank rates - the prices banks charge each other for short-term funds - are threatening to fall back to record lows. In fact, many bankers reckoned interest rates after the recent spate of cuts may be headed upwards. The benchmark three- month rates are now nearing one per cent, down from around 3.5 per cent a year ago and threatening to ease to the record levels around 0.5 per cent in early 2003. Naturally, it should be good news for homeowners as they expect to see their borrowing costs return to the low levels of 2003, when banks were dishing out loans at 50 basis points and below. Is this on the cards again? Well, it depends on who you talk to. If you call your local bankers, they are likely to tell you that the domestic and global credit situations are quite different from the Sars days when bank...
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For Rent - Pantech 21 - factory - 16.05.08
2008-05-16 01:17:00
For Rent - Pantech 21 - factory - 16.05.08 Note : Subject to availability and revision of rental rate without notice BUILDING / UNIT NO — 02-02  LETTABLE AREA ( SQ FT) — 7,363 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $3.60 GST ON GROSS RENT PER SQ FT PER MONTH — $0.25 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $3.85 GROSS RENT (SGD) PER MONTH (AFTER GST) — $28,362.28 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 39,541 LETTABLE AREA ( SQ FT) — 08-Dec GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $3.60 GST ON GROSS RENT PER SQ FT PER MONTH — $0.25 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $3.85 GROSS RENT (SGD) PER MONTH (AFTER GST) — $19,610.53 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 04-03 FRR LETTABLE AREA ( SQ FT) &...
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For Rent - New Tech Park - factory - 16.05.08
2008-05-16 01:06:00
For Rent - New Tech Park - factory - 16.05.08 Note : Subject to availability and revision of rental rate without notice   BUILDING / UNIT NO — 02-07/09* LETTABLE AREA ( SQ FT) — 23,296 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $5.20 GST ON GROSS RENT PER SQ FT PER MONTH — $0.36 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $5.56 GROSS RENT (SGD) PER MONTH (AFTER GST) — $129,618.94 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 04-06  LETTABLE AREA ( SQ FT) — 08-Jun GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $5.20 GST ON GROSS RENT PER SQ FT PER MONTH — $0.36 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $5.56 GROSS RENT (SGD) PER MONTH (AFTER GST) — $72,014.85 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 04-07B LETTABLE AREA ( S...
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For Rent - City Industrial Building - factory - 16.05.08
2008-05-16 01:02:00
For Rent - City Industrial Building - factory - 16.05.08 Note : Subject to availability and revision of rental rate without notice BUILDING / UNIT NO — 03-07  LETTABLE AREA ( SQ FT) — 2,803 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $1.90 GST ON GROSS RENT PER SQ FT PER MONTH — $0.13 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $2.03 GROSS RENT (SGD) PER MONTH (AFTER GST) — $5,698.50 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 04-01  LETTABLE AREA ( SQ FT) — 19-May GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $1.90 GST ON GROSS RENT PER SQ FT PER MONTH — $0.13 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $2.03 GROSS RENT (SGD) PER MONTH (AFTER GST) — $3,996.88 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 04-Feb LETTABLE AREA (...
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For Rent - Cititech Industrial  Building - factory - 16.05.08
2008-05-16 00:56:00
For Rent - Cititech Industrial  Building - factory - 16.05.08 Note : Subject to availability and revision of rental rate without notice BUILDING / UNIT NO — 05-05  LETTABLE AREA ( SQ FT) — 2,325 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $2.00 GST ON GROSS RENT PER SQ FT PER MONTH — $0.14 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $2.14 GROSS RENT (SGD) PER MONTH (AFTER GST) — $4,975.50 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 39,604 LETTABLE AREA ( SQ FT) — 31-Oct GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $2.00 GST ON GROSS RENT PER SQ FT PER MONTH — $0.14 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $2.14 GROSS RENT (SGD) PER MONTH (AFTER GST) — $4,560.34 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 05-Aug LETTABLE A...
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For Rent - Cideco Industrial Complex - Warehouse, factory - 16.05.08
2008-05-16 00:49:00
For Rent - Cideco Industrial Complex - Warehouse, factory - 16.05.08 Note : Subject to availability and revision of rental rate without notice Warehouse BUILDING / UNIT NO — 03-05-06 LETTABLE AREA ( SQ FT) — 6,738 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $1.80 GST ON GROSS RENT PER SQ FT PER MONTH — $0.13 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $1.93 GROSS RENT (SGD) PER MONTH (AFTER GST) — $12,977.39 IncludesUtility Chg —   STATUS — Vacant AVAILIBILITY — Now Factory BUILDING / UNIT NO — 06-02 LETTABLE AREA ( SQ FT) — 3,681 GROSS RENT (SGD) PER SQ FT PER MONTH (BEFORE GST) — $1.80 GST ON GROSS RENT PER SQ FT PER MONTH — $0.13 GROSS RENT (SGD) PER SQ FT PER MONTH (AFTER GST) — $1.93 GROSS RENT (SGD) PER MONTH (AFTER GST) — $7,089.61 IncludesUtility Chg — STATUS — Vacant AVAILIBILITY — Now BUILDING / UNIT NO — 39,574 LETTABLE AREA...
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Sales in Singapore private residential market dip in April
2008-05-16 00:22:00
Sales in Singapore private residential market dip in April By Ng Baoying, SINGAPORE: Sales in the private residential market have dipped in April after a mild recovery in March. According to the numbers of private home sales released by the Urban Redevelopment Authority (URA), only 274 units were sold last month – down from 301 units in March. Developers were also holding back new launches, with only 271 units launched in April – the lowest number of units since market weakness surfaced in September last year. Analysts said they expect the market to continue moving gingerly. Homebuyers in the mass market are keeping the numbers moving along as nine out of every 10 units sold in April were in the suburban areas. This belies the overall cautious stance that homebuyers are taking. Chua Chor Hoon, Senior Director of Research, DTZ Debenham Tie Leung, said: “Speculation is almost nil. Most buyers we see in the market are probably those buying for owner occupation, with needs for...
More About: Residential , Market , Sales

US sub-prime crisis hurting Asian property: Singapore GIC
2008-05-16 00:18:00
US sub-prime crisis hurting Asian property: Singapore GIC  By Fiona Chan    THE sub-prime crisis in the United States is starting to weaken Asian property markets, said the real estate arm of the Government of Singapore Investment Corporation (GIC) yesterday. GIC Real Estate president Seek Ngee Huat told a regional property conference that the impact of the crisis could hasten downtrends in the Asian property markets, according to a report by news agency Reuters. ‘The contagion effects of the sub-prime crisis can potentially accelerate the downward spin of the property cycle,’ he said in a keynote speech at the Financial Times Asia Property Summit. ‘Some market weakening is being sensed in Asia, particularly in Japan and in Australia.’ In Australia, house prices are growing more slowly and demand for mortgages fell 6.1 per cent in March from February, according to the Reuters report. It added that in Japan, the stock of unsold apartments is rising, while h...
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Design awards for Singapore HDB estates
2008-05-16 00:13:00
Design awards for Singapore HDB estates  Sengkang, Ghim Moh estates score well for innovative design, user-friendly features By Ong Bi Hui    HOUSING Board estates are not known for their innovative designs, but two cutting-edge ones are starting to change all that. They have just become the first HDB estates to win design awards for both their good looks and user-friendly features. The Coris, a precinct in Sengkang New Town, and the upgraded Ghim Moh Gardens estate, which is 32 years old, both won bronze awards at the Building and Construction Authority (BCA) Universal Design Awards . ‘Universal Design’ generally refers to design that allows users to get around easily, with easy-to-use facilities. The BCA Awards were launched in September last year, and this year saw 34 entries, with most being refurbished buildings. Both estates stood out due to their accessibility to residents, with seamless connectivity throughout. The Coris at Sengkang, which has 14 residential bl...
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Singapore MM’s wife in serious condition after stroke
2008-05-16 00:11:00
Singapore MM’s wife in serious condition after stroke   She can speak and recognise family members but remains in hospital after Monday’s stroke By Li Xueying & Kor Kian Beng  MORE ALERT NOW: Mrs Lee’s daughter said her intelligence is not affected but physical movements may be frustrating. — ST FILE PHOTO   MRS Lee Kuan Yew, wife of the Minister Mentor, is in hospital after suffering a stroke on Monday. However, her haemorrhage has since stabilised and, while she remains in ‘a serious condition’, she is able to recognise immediate family members, said a statement from the Minister Mentor’s office yesterday. Mrs Lee, 87, experienced sudden weakness in the left side of her body and slurring of speech at 12.20pm on Monday. She was taken to the National Neuroscience Institute (NNI) for an urgent brain scan, which revealed bleeding in the right side of the brain, and was subsequently admitted to the Neurointensive Care Unit in Tan Tock Se...
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What is a stroke?
2008-05-16 00:09:00
What is a stroke?    ACCORDING to Dr Alvin Hong, consultant neurosurgeon at Mount Elizabeth Medical Centre and Gleneagles Medical Centre, there are two types of stroke. ‘One is caused by blockage in a blood vessel, so that blood cannot flow to the part of the brain that the vessel supplies. The other is when a blood vessel within the brain bursts, causing blood to leak inside the brain. Mrs Lee suffered this type of stroke.” What causes it? Most haemorrhagic strokes are spontaneous, meaning there are no underlying causes, such as tumours or blood abnormalities. It often happens in older people due to degenerative changes in blood vessels. In people in their 40s to 60s, the most common cause is high blood pressure. Effects of stroke Effects can vary. If the bleeding is in the brain stem, the damage can be serious. If the stroke is in the left side of the brain, the person could be paralysed on the right of the body and also have problems communicating with others as spe...
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Singapore Retail sales index up 5.6% in March
2008-05-16 00:05:00
Singapore Retail sales index up 5.6% in March By OH BOON PING   Excluding motor vehicles, overall sales volume rose by 6.1 per cent. The strong growth was partly attributed to higher prices, but at constant prices the volume of retail sales actually declined marginally from a year ago, says the DOS. Total retail sales value in March was estimated at $2.89 billion, compared with February’s $2.59 billion, with almost all retail sectors reporting higher turnover year on year.     For example, sales of supermarket goods, furniture & household equipment, department store items, optical goods & books, watches & jewellery and telecommunications apparatuses & computers in March this year continued to grow at 13.6 per cent to 16.7 per cent. However, the motor-vehicle segment reported a decline of 8.1 per cent, continuing its downward trend since October 2007. As for restaurants, receipts fell 1.8 per cent from the previous year, even though sales of fast-food outlets...
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Singapore CDL reveals what it does for society and environment
2008-05-16 00:01:00
Singapore CDL reveals what it does for society and environment By CONRAD TAN CITY Developments Ltd (CDL) yesterday launched its first annual report focusing on the property developer’s impact on the environment, such as energy usage and carbon emissions. The 54-page voluntary report, one of the first of its kind for a Singapore public-listed company, also details CDL’s activities and performance on various social and environmental issues, including efforts to improve the efficiency of energy and water use at its property projects and to reduce the amount of waste it generates. But profits still come first, managing director Kwek Leng Joo said at a media conference to launch the report yesterday. ‘Businesses are for profit. Companies are out there not primarily to do charity work, think about how they should protect the environment or how they should repay kindness to society,’ he said. ‘The primary obligations are to the shareholders and investors.&rsqu...
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Leng Beng says Singapore real estate market sustainable
2008-05-15 23:59:00
Leng Beng says Singapore real estate market sustainable CityDev boss sees further investment opportunities ahead By EMILYN YAP   HOTEL and property tycoon Kwek Leng Beng believes Singapore’s real estate market is sustainable and further investment opportunities lie ahead. ‘I am also waiting for the opportunity … to go in and buy at the right time,’ he said at a property conference yesterday. The executive chairman of City Developments said growth in Macau’s gaming industry had driven up residential property prices there sharply. And with two integrated resorts and big events such as the Youth Olympics in the next few years, Mr Kwek reckons the future is bright for Singapore real estate. According to country head of Jones Lang LaSalle Singapore Christopher Fossick, the current slowdown in property demand is largely sentiment-driven, and many investors are probably waiting to purchase at better prices. In terms of office space, Mr Kwek said: ‘Ther...
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Interest in Asian property seen growing - Singapore
2008-05-15 23:55:00
Interest in Asian property seen growing - Singapore GIC Real Estate says weaker market favours those taking strategic position By EMILYN YAP   (SINGAPORE) The sub-prime crisis may have affected Asian property markets, but interest in the sector is likely to grow. The Government of Singapore Investment Corp’s (GIC) real estate arm is also confident about investment opportunities going forward. ‘There is plenty to go around - we will all have fun competing,’ said president of GIC Real Estate Seek Ngee Huat at a property conference yesterday. Going by the pace at which real estate projects are emerging in Asian cities, Dr Seek believed that there would be a continuous supply to meet different risk-return appetites. Dr Seek recognised that the sub-prime crisis has weakened Asian markets, particularly Japan and Australia. ‘The contagion effects of the sub-prime crisis . . . can potentially accelerate the downward spin of the current cycle,’ he said. Neverth...
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Singapore Temasek Foundation silences the cynics
2008-05-15 23:53:00
Singapore Temasek Foundation silences the cynics Its projects in Asia make a difference that goes beyond any PR exercise By CHUANG PECK MING   JUST a week shy of Temasek Foundation’s first anniversary, Temasek Holdings, which started the $500 million foundation to help people in Asia, was again in the news. Last Friday, an Indonesian court threw out the Singapore investment company’s appeal against a ruling that it had breached the country’s anti-monopoly law in a case involving the two largest Indonesian telecom operators. Unlike a similar dispute in Thailand about a year ago, the proceedings this time were more civilised. The Thai episode saw public protests against Temasek’s investments in a telecommunication company - Shin Corporation - owned by then Thai prime minister Thaksin Shinawatra and his family. The protests culminated in the Thaksin government’s ouster. It was soon after this that Temasek Foundation was formally set up. The new Thai gover...
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Singapore Property seems paler, but it’s anyone’s call
2008-05-15 23:50:00
Singapore Property seems paler, but it’s anyone’s call Volumes shrink, prices weaken but some segments are holding firm By ARTHUR SIM   (SINGAPORE) Based on the latest monthly developer sales data from the Urban Redevelopment Authority (URA), property prices could be on the downward trend. Developer sales fell, with April seeing only 274 transactions. This is about 9 per cent lower than the 301 units sold in March, though still higher than the 174 units sold in February. And while it is difficult to accurately pinpoint price movements with such low volume, an analysis by Knight Frank of overall median prices achieved nevertheless registered an 8.9 per cent drop in April, falling to $943 psf compared to $1,035 psf in March. The peak median price of over $1,400 psf was reached in August 2007. Knight Frank director (research and consultancy) Nicholas Mak also explained that the analysis was a ‘median of median prices’, and so may not be a precise reflection of ...
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CDL’s gain up 31% in quiet Singapore market
2008-05-15 02:44:00
CDL’s gain up 31% in quiet Singapore market Firm notches $165m in profits but sees weaker times ahead By Joyce Teo NOT READY: CDL is holding back launches of Shelford Suites (above), The Arte @ Thomson, Pasir Ris Phase 1 and The Quayside @ Sentosa. — PHOTO: CDL DESPITE the subdued residential property market, Singapore developer City Developments (CDL) still notched up a 31 per cent growth in first-quarter net profit to $164.97 million. It has held back launches here given the quiet market. Revenue in the three months ended March 31, however, fell 1.3 per cent to $758.75 million. CDL sees weaker times ahead. Property market sentiment may remain subdued in the next 12 months with problems linked to the United States sub- prime crisis still looming and given the expected credit tightening by some financial institutions, it said. But the current uncertainty is a ‘temporary environment’ and Singapore’s nimbleness in responding to economic changes wi...
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‘Leadership position’ helped Singapore SingTel snag iPhone cont
2008-05-15 02:39:00
‘Leadership position’ helped Singapore SingTel snag iPhone contract Telco rings up $3.96b in full-year gains despite challenging environment By Chua Hian Hou SINGTEL said yesterday that its dominant market position in Singapore was a crucial factor that allowed it to lock down a deal to sell Apple’s iPhone. The telco’s chief executive for Singapore, Mr Allen Lew, told a conference on its results yesterday that the ‘leadership position’ its 2.57 million mobile customers here had conferred on it had definitely ‘contributed to the iPhone deal’. SingTel announced on Monday that it will launch the iPhone later this year, ending months of speculation about whether Singapore would ever get the device. Rival telcos StarHub and M1 remain in discussions with Apple. StarHub has indicated that it was confident of securing distribution deals. Mr Lew told the conference that the company intends to ensure that its pole position in the market ...
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43rd Singapore NDP will have something for everyone
2008-05-15 02:36:00
43rd Singapore NDP will have something for everyone By Jermyn Chow THE purr of Formula 1 powerboats and roar of Singapore’s Black Knights, together with crowd-pleasers like the parachuting Red Lions, will send pulses racing as the nation celebrates its 43rd birthday. The 27,000 lucky people who land tickets to the Aug9 party, to be held at Marina Bay again, will catch the action up close. A special three-tiered stage will be built between the seats and the floating platform after feedback showed that some who attended last year’s parade felt the offshore-stage was too far. ‘People had difficulty understanding what they were watching, so we had to find a way to bring performance and parade closer to the audience,’ said Colonel Tung Yui Fai, chairman of this year’s organising committee. This year, the promenade separating the floating platform and the seating gallery has been expanded to about twice its original width - some of the tweaks made for ...

Investors betting on firms that could win rebuilding contracts
2008-05-15 02:18:00
Investors betting on firms that could win rebuilding contracts  By Goh Eng Yeow  INVESTORS have started buying up stocks that are likely to win extra business in the massive reconstruction effort that is expected to follow the deadly Sichuan earthquake. Shares of steel, aluminium and building-materials firms listed in Shanghai and Hong Kong shot up sharply yesterday on expectations that these businesses are in line for lucrative reconstruction contracts. In Singapore, traders bought big on financial instruments called covered warrants linked to Hong Kong-listed China Railway Construction, one of the mainland’s biggest construction firms. These warrants give investors an option to buy into China Railway Construction until September. If the company wins a big Chinese government contract, these investors stand to gain. As fresh details of the devastation emerged, traders began to realise the extent of likely rebuilding efforts - especially given China’s strong position to...
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China’s swift and open rescue efforts win praise
2008-05-15 02:16:00
China’s swift and open rescue efforts win praise  Beijing appears to have drawn lessons from its handling of past crises By Peh Shing Huei      CHINA in crisis is showing a calm, competent and compassionate side that seems to be impressing the world. Three months before the public relations engine is to crank into action with the Olympics to showcase its arrival on the world stage, the Chinese government is already winning plaudits for its swift response to the earthquake. The state media’s blanket coverage of the 7.9-magnitude quake, and regular updates of casualty figures and rescue roadblocks, have also surprised many who are used to a Great Wall of Silence when bad news hits China. Pictures and television clips of the rescue efforts show a side of China that impresses: workers dressed in crisp outfits and fitted with proper gear, troops in orderly contingents, nurses well-turned out in their uniforms. Calm, organised, and compassionate - this is the compelling im...
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Live and work under one roof - Singapore
2008-05-15 02:12:00
Live and work under one roof - Singapore Multiple-usage buildings bring commercial and retail conveniences closer to their residents and is an approach that urban planners in land-scarce Singapore is encouraging, reports JOEL CHUA   MOST of us relate to the necessary evil that is the early-morning commute through snarling traffic to work and the evening one back home.   Prime property: Eight out of Ion Orchard’s 56 storeys will be assigned retail space and the rest of the floors will be designated as luxury residential apartments Now imagine if work was just a ride on the lift down from your apartment. Another journey on the lift after work to de-stress with some retail therapy at the mall located just a few floors below the office, and a final one at the end of the day - back to the apartment for a good night’s rest. An entire day’s work and play carried out without even having to leave your building of residence. While that may be somewhat of an exaggerated dep...
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4 bungalows sold for $5.5m each - Singapore
2008-05-15 02:10:00
4 bungalows sold for $5.5m each - Singapore $22 million transaction works out to $1,128 psf of built-up area By KALPANA RASHIWALA   AMID the current quiet residential market, some deals are still being stitched up.   Quartet on Vanda: The freehold cluster on a 12,300 sq ft site at Vanda Crescent off Dunearn Road was bought by a European and his Singaporean wife. Each two-storey unit has an attic, a basement and a swimming pool  All four strata bungalows in a freehold cluster housing development near Eng Neo Avenue were snapped up at $5.5 million each at a preview on Friday last week by a European with a Singaporean wife. The $22 million transaction works out to $1,128 psf of built-up area. ‘The units were bought partly for the buyers’ own use and partly for investment,’ said Jerry Tan, managing director of JTResi, the sole marketing agent for Quartet on Vanda. JTResi previewed the development over a ‘champagne supper’ at its premises on Club Street M...
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$20m scheme launched to help SMEs venture overseas - Singapore
2008-05-15 02:01:00
$20m scheme launched to help SMEs venture overseas - Singapore INTERNATIONAL Enterprise (IE) Singapore yesterday launched a $20 million programme to help small and medium enterprises (SMEs) venture overseas. The Internationalisation Capability Development Programme (iCDP) will support the development of capabilities that firms need to expand beyond local shores. These include branding, design, intellectual property, and franchising and licensing, said IE Singapore chief executive Chong Lit Cheong. For project-based applications, a firm can get up to $300,000 per project. Support for eligible costs - manpower, hardware and software costs, appointment of third-party consultants and IP - range from 30 to 50 per cent. The iCDP will benefit some 250 to 300 firms over the next three years, said Mr Chong. To be eligible for the scheme, companies must have a turnover of at least $500,000, total business spending of at least $250,000 for each of the past three years, minimum paid-up capital ...
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More big firms could join Singapore MOE’s computer project
2008-05-15 01:58:00
More big firms could join Singapore MOE’s computer project IBM, SCS consider participation in 2nd Standard Operating Environment project By ONG BOON KIAT   ELEVEN companies, comprising local and multinational heavyweights, have thrown their hats into the ring for a mega IT project from the Ministry of Education (MOE), but more goliaths are set to wade into the fray over the coming months. They include Singapore Computer Systems (SCS) and global IT giant IBM, which both indicated this week that they were mulling over their participation in the Standard ICT Operating Environment (SOE) for Schools project. The first SOE project, coined SOEasy, was awarded in February. It involves about 60,000 computers from 74 public sector agencies and has a contract sum of $1.3 billion over eight years. The cost of the second SOE will be known only after its final tender specifications are released by MOE in April next year. However, an industry source estimated that this project could have a ...
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CDL offers words of cheer - Singapore
2008-05-15 01:55:00
CDL offers words of cheer - Singapore It posts 30.8% increase in Q1 net profit to $165m By KALPANA RASHIWALA THE Singapore residential property market has slowed to a trickle, but shareholders of City Developments Ltd (CDL) should feel heartened by strongly worded reassurances in the group’s first-quarter results statement, which showed a 30.8 per cent increase in net earnings to almost $165 million. CDL vowed that it is ‘committed to do everything possible within our means to face any problems which may arise’. ‘Importantly, we continue to be creative and innovative in our business strategies.’ ‘With profits yet to be recognised from residential developments sold over the last three years which are still in the course of construction, the group is confident of remaining profitable during the next 12 months, even if it decides to continue to hold back or pace its property launches,’ CDL, which is part of Singapore’s Hong Leong Group, s...
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$1.1b Singapore govt infocomm pie up for grabs this year
2008-05-15 01:52:00
$1.1b Singapore govt infocomm pie up for grabs this year Big boys may gain more, with several large projects on the cards By ONG BOON KIAT   (SINGAPORE) Infocomm vendors in Singapore can expect a $1.14 billion government procurement bonanza this year. That is the estimated total value of new IT-related tenders expected to be called by the public sector this fiscal year. At an IDA seminar yesterday, its chief executive Ronnie Tay said the industry could look forward to more than 390 new infocomm tenders in the coming 12 months. The figure of $1.14 billion eclipses last year’s projections by about 50 per cent. In 2007, the government projected $730 million worth of infocomm tenders. A total of $2.12 billion worth of contracts were awarded last year. In fiscal 2006, infocomm tenders worth $620 million were projected, with $850 million awarded. The government’s fiscal year 2008 started on April 1 and stretches till March 31, 2009. The announcement spells good news for IT ve...
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