You auto-roam or wifi ?Originally Posted by sh
I know auto-roaming will work but too expensive.
TCSS
You auto-roam or wifi ?
I know auto-roaming will work but too expensive.
Junior
Wifi lah... Not carrot head....
TCSS
hmmm..........???????
Junior
http://www.todayonline.com/Business/...cut-5,400-jobs
AmEx to cut 5,400 jobs
Todayonline
Updated 08:21 AM Jan 11, 2013
NEW YORK - American Express (AmEx) said it would cut about 5,400 jobs, and take about US$600 million (S$733.7 million) in after-tax charges in the fourth quarter, which will halve its net income for the period.
The credit card company said it would employ 4 to 6 per cent fewer people by the end of this year, compared to its current headcount of 63,500.
AmEx said the largest reduction would come in its travel business and would be spread proportionately between the United States and international markets.
"For the next two years, our aim is to hold annual operating expense increases to less than 3 per cent," said Chief Executive Kenneth Chenault.
American Express will take a US$287-million after-tax restructuring charge, in addition to other charges related to its rewards programme and reimbursements to cardholders under agreements signed with regulators. Reuters
Junior
http://business.asiaone.com/A1Busine...09-394429.html
Rising costs, uncertain global demand and regulation key business concerns
AsiaOne
Wednesday, Jan 09, 2013
SINGAPORE - Rising business costs, especially rental cost, has emerged as the top key concern for businesses, according to research conducted by the Institute of Certified Public Accountants of Singapore (ICPAS).
Based on its pre-budget survey and polls which attracted a total of 575 respondents, ICPAS found that 60 per cent of them worried that high business costs could be a major challenge as they braced themselves for slower growth ahead.
Ahead of the Budget 2013, respondents indicated that they hope the Government can lend a hand in managing rising business costs.
A total of 60 per cent felt cash grants to Small and Medium Enterprises (SMEs) would be beneficial, while 45 per cent indicated a wish for the Government to consider reviving the Jobs Credit Scheme, as it has been found useful in retaining jobs during bad economic times.
Rental cost also continues to be one of the top concerns related to business costs for SMEs.
81 per cent surveyed want measures to reduce or offset rental cost as their top wish list item for companies in the coming Budget 2013.
Senior
You will see more these SMEs moving over to our neighbour.
Junior
http://www.straitstimes.com/archive/...eberg-20130112
'Open space' loophole just tip of the iceberg
Straits Times Forum
Published on Jan 12, 2013
THE Urban Redevelopment Authority (URA) has been asked to review the policy loophole that allows developers to sell free spaces for profit ("'Open space' loophole to be plugged"; Tuesday).
While plugging this loophole is timely, the URA is still behind the curve in many other matters.
Nowadays, a growing number of apartments have disproportionately large balconies, double volume voids (lofts) and air-con ledges. Are these considered bonus gross floor area that developers can sell to make additional profits?
Then we have "creative" developers. They market, say, a 1,000 sq ft unit with a very high ceiling at an exorbitant price. But they construct a raised second-storey platform over part of the unit, increasing the usable floor area to, say, 1,500 sq ft. This makes the "enlarged" unit appear cheap on a per square foot basis. But the platform-to-ceiling height is usually no more than 1.5m, such that it is impossible for one to stand upright.
Another marketing tactic is to brand residential units as small office, home office (Soho). This misleads buyers into thinking that the units are akin to commercial offices and, hence, more valuable.
The URA does not recognise Soho as a planning term, and developments being marketed as such are approved either as office or residential, but not for both uses. Nevertheless, developers are still allowed to use the term Soho.
The inconsistent treatment of household shelters is also puzzling.
Some are located internally and constitute part of a unit's saleable floor area, while others are located at the common staircases outside. Yet others are designed to double as walk-in wardrobes. Is this proper?
I agree that communal spaces for residents should not be reduced. But the authorities should go one step further and ensure that common facilities such as swimming pools, gyms and barbecue pits are adequate and proportionate to the size of the development.
The URA and the Building and Construction Authority should also step up enforcement of regulations.
Areas requiring attention include the illegal subdivision of residential units for rental to multiple tenants, especially in older estates, and the unauthorised use of industrial property for commercial activities.
The URA said in its reply ("URA probing misuse of industrial spaces"; yesterday) that it will "carry out investigations on unauthorised uses in specific industrial units that are brought to our attention". The authorities need to be more proactive in eradicating breaches, and not over-rely on citizen policing.
Plugging the "free space" loophole is merely the tip of the iceberg.
Victor Ng Beng Li
Junior
The Straits Times
http://www.straitstimes.com
Published on Jan 13, 2013
Fewer visitors at showflats as new property rules bite
By Esther Teo & Melissa Pang
Showflats across the island took an immediate hit a day after a slew of tough property cooling measures were unveiled.
Friday saw the introduction of a range of measures including higher additional buyers' stamp duty as well as stricter borrowing limits.
The number of buyers visiting showflats of eCo in Bedok South, d'Leedon on the former Farrer Court site and Echelon next to Redhill MRT station had thinned.
The notable exception, however, was La Fiesta, next to Sengkang MRT station, which was still very busy, with many buyers flocking to its showflat along Sengkang Square, undaunted by the seventh and most extensive round of measures.
The 810-unit project had scrambled to bring forward its launch to Friday night from its original launch date this Tuesday to beat the clock on the new measures.
The Sunday Times understands that the project has sold "a few hundred units" at average prices of between $1,100 and $1,200 per sq ft.
Those scouting around at the showflats said they were hoping that developers might have lowered prices. The measures target investor demand and do not affect first-time home buyers.
Senior financial consultant Edmund Wee, 44, who was at the d'Leedon showflat, said he is happy with the measures as he is a "genuine" home buyer. He has been renting an apartment for the past eight months.
"(The measures) will benefit those who are not using property as investment... We won't be buying immediately, but will be shopping around the next few months, when the impact of the measures can be seen," he added.
At d'Leedon, Ms Juvian Cheah, 37, was cheered by the latest measures.
"As someone who is single and in my 30s, and looking for a place of my own, I'm very happy with the cooling measures and I hope it will keep speculators out of the market and calm prices down," she said.
First-time home buyer Ms Hong, who declined to give her full name, was also at d'Leedon. The 30-year-old said she has been shopping for a home for the past year but has been put off by the prices.
"Hopefully, this round of cooling measures will help. I'm not sure it addresses some of the key problems, such as the issue of cash-rich foreigners, but it's a start.
"It also remains to be seen whether the increase in the quantum of the stamp duty is sufficient, and whether the measures will stamp out Singaporeans' desire to use property as a means of investment," she added.
Those who were looking for an investment property, however, were disheartened.
Accountant Mark Hew, 41, said he was originally interested in buying a home for investment and visited the La Fiesta showflat to get a feel for the market.
But the tough new measures, which include higher stamp duties and rules limiting buyers on how much they can borrow, have put his plans on hold.
"I'm not buying any more... The higher cash down payment is the main deterrent for us," he said.
Some developers pushed out new promotions in a bid to alleviate the sting of the measures.
Far East Organization, for instance, is offering a 5 per cent discount across the board for all its projects this weekend. The developer also kept some of its showflats open till late on Friday night.
Mr Chia Boon Kuah, Far East's chief operating officer of property sales, said 38 units were sold at its projects on Friday.
The limited-period discount of 5per cent this weekend is also meant to "assist buyers who had been considering our properties, but were not able to act before the latest round of measures took effect", he added.
"We will continue to monitor the situation and respond to the needs of home buyers, to contribute to stable and sustainable value in the property assets of end users and investors in Singapore," Mr Chia said.
[email protected]
[email protected]
Senior
MTB people are coming in. In particular those sold and have been renting.
Junior
http://www.todayonline.com/Business/...oling-measures
Property stocks take a hit after cooling measures
Analysts say latest round of measures will lead to drop in prices, demand for housing
by David Bottomley
04:45 AM Jan 15, 2013
SINGAPORE - Property stocks tumbled yesterday, as the impact of the Government's latest round of cooling measures - which were announced after trading last Friday - sank in, and prompted research houses to predict a sharp fall in sales volume in the private residential market by at least 30 per cent.
In contrast, the previous rounds of cooling measures - excluding the latest measures, there had been six rounds since 2009 - had limited impact on the market. Analysts believe that this time, the measures will finally chill the market for an extended period, leading to a drop in demand and prices.
City Developments dropped 7.54 per cent to S$11.65, hit by its exposure to the domestic residential market. Keppel Land fell 7.24 per cent to S$3.97 and Wing Tai plunged 8.91 per cent to S$1.84. CapitaLand closed 4.11 per cent lower at S$3.73, getting off relatively lightly because of its presence in key overseas markets.
Last Friday, in the immediate aftermath of the announcements, some analysts felt that the impact, if any, would be short term as buyers adopt a wait-and-see attitude. But having had the weekend to digest the move, analysts yesterday had little doubt about the full extent of the impact.
OCBC Investment Research said the "barrage" of measures could "crack the market". "Compared to previous rounds, we see the latest measures having a deeper impact on a larger cross-section of buyers, with citizens buying their first property being the only group of buyers unscathed," said OCBC analyst Eli Lee.
Daiwa analyst David Lum added: "Each individual measure in isolation might appear to be incremental, but the breadth of the measures taken in totality might, in our opinion, finally set a prolonged chill in the market."
The wide-ranging measures include higher stamp duty for certain homebuyers, tighter loan-to-value limits and higher downpayment requirements for existing homeowners seeking to buy additional properties.
Barclays Research said it expects "developer volumes to correct 30 to 35 per cent to a more sustainable full-year rate of 15,000 to 16,000 units", compared to the record 23,000 units last year.
Credit Suisse said that sales may fall by 30 per cent this year. It noted that, according to a survey, around 31 per cent of buyers had previously indicated their intention of purchasing a property for investment purposes. The latest cooling measures could push those buyers out of the market.
In terms of pricing, Barclays said it expects the mass market to remain relatively stable, not least because previous cooling measures have already weeded out speculators. OCBC forecast that mass-market prices will fall by up to 5 per cent this year, with high-end prices likely to fall by between 5 and 10 per cent.
Looking at the HDB market, analysts said that some of the measures will curb demand for resale flats. In particular, the 5 per cent stamp duty that permanent residents will now have to pay when purchasing their first resale flat (as well as other properties) could result in some prospective buyers deciding that now is not the right time to enter the market.
Meanwhile, investors are being advised to tread carefully when assessing whether to pick up property developer shares after yesterday's sharp falls. OCBC noted that "the latest measures point to a strong political will to soften property prices, and we expect sustained and aggressive curbs until prices reach levels deemed acceptable."
Junior
http://www.businesstimes.com.sg/prem...slide-20130115
Business Times
Published January 15, 2013
Home sales will fall, even prices may slide
Property counters retreat as sector comes to terms with latest set of cooling measures
By Mindy Tan
Standard Chartered said private home take-up could potentially fall to about 10,000 units in 2013, a more than 50 per cent decline from the 21,600 units in 2012. This is assuming Singaporeans do not buy a second property due to the additional buyers stamp duty of 7 per cent which is now imposed on the purchase of a second property - PHOTO: SPH
[SINGAPORE] In what could be the first rumblings of a long-raging storm, property counters fell while analysts predicted that private home sales would drop and even prices may dip.
Some expect property stocks to fall by up to 15 per cent in the wake of the most comprehensive round of cooling measures to hit the sector.
The more dire estimates expect property prices, which have climbed despite previous cooling measures, to fall by up to 10 per cent and for transaction volumes to crash by up to 50 per cent.
Analysts have also warned that more measures could be in the works.
Standard Chartered said private home take-up could potentially fall to about 10,000 units in 2013, a more than 50 per cent decline from the 21,600 units in 2012. This is assuming Singaporeans do not buy a second property due to the additional buyers stamp duty (ABSD) of 7 per cent which is now imposed on the purchase of a second property.
"A secondary effect is that current home owners with more than one home may refuse to sell their units because a repurchase would incur the ABSD. We expect resale transactions to fall by 30-50 per cent from the current 10,000 per year," added the bank.
UOB Kay Hian said it expects investment demand and the mass-market segment to be most impacted, with sales volumes expected to drop 20-40 per cent, and prices to dip 5 per cent.
Credit Suisse said it expects volumes to drop 30 per cent, given that about 30 per cent of purchases are for investment purposes, based on the results of a survey conducted.
"Near-term prices may still hold up due to strong balance sheets, but developers may turn desperate if inventory stagnates," said Credit Suisse. "Overall, we expect prices to remain relatively flattish, although we expect a further 5-10 per cent downside risk for prime due to the vacancy, given the oncoming supply and unsold units versus weak rental demand."
Barclays Research observed that the additional 5 per cent ABSD imposed on foreigners (foreigners and corporate entities now have to pay 15 per cent ABSD from their first purchase) would be a further blow to the high-end to luxury properties that typically have 30 per cent foreigner buyers and have already been lagging the suburban properties on excess unsold completed inventory.
While Maybank Kim Eng analyst Wilson Liew lauded the imposition of ABSD on Singaporeans purchasing their second, third, and subsequent homes, he questioned the necessity of raising the ABSD for foreigners.
"The percentage of foreign non-PR homebuyers had remained fairly stable at 7 per cent in each quarter last year. They also accounted for less than 10 per cent of the transactions for properties priced below $1,670 psf. Hence, the higher ABSD imposed on foreign buying could have been unnecessary," he said.
Mr Liew said he expects the mass market segment to be the worst hit as marginal investors are forced to the sidelines. The high-end segment which had enjoyed a "mini-revival" in the last quarter is likely to go into intermission as well, but longer-term fundamentals will prevail.
The immediate impact of the measures was evident in the stock market, where property counters took a beating. Some of the biggest losers included Wing Tai Holdings which lost 18 cents (8.9 per cent) to close at $1.84, City Developments which lost 95 cents (7.54 per cent) to close at $11.65, and Keppel Land which lost 31 cents (7.2 per cent) to close at $3.97.
SC Global Developments, the subject of a privatisation bid by chairman and chief executive Simon Cheong, bucked the trend, climbing half a cent to close at $1.805.
Yesterday, Mr Cheong bought an additional 3.042 million shares at $1.795-$1.80 each. With the public float standing at 14.52 per cent, any additional acquisition by Mr Cheong and/or other non-public shareholders that in aggregate exceeds 4.5 per cent will bring the public float below the minimum 10 per cent that is required for the company to stay listed. Mr Cheong's privatisation offer closes tomorrow.
Even as stocks bear the brunt of the knee-jerk reaction, OCBC analyst Eli Lee, who expects dips of 3-10 per cent, cautioned against buying on dips.
"We see the latest set of cooling measures having a deeper and more sustained impact on demand fundamentals," he said. "(They) point to a strong political will to soften property prices, and we expect sustained and aggressive curbs until prices reach levels deemed acceptable."
DMG & Partners analyst Goh Han Peng advocates holding back on bargain buying given that the full impact will only sink in slowly, as market activities dwindle and prices soften.
Bank stocks too slipped - UOB lost 44 cents (2.29 per cent) to close at $18.78; DBS lost 29 cents (1.97 per cent) to close at $14.41; OCBC lost 13 cents (1.33 per cent) to close at $9.62.
Junior
http://www.straitstimes.com/premium/...anent-20130115
Make property cooling measures permanent
Straits Times Forum
Published on Jan 15, 2013
I APPLAUD the latest property cooling measures ("Tough action to cool property market"; last Saturday).
In land-scarce Singapore, property ownership should be strictly viewed as a means for citizens to have a home to call their own, and not for speculative purposes. This is especially so as there is no shortage of financial instruments for speculation.
The era of someone being able to retire following the huge price appreciation of the property he bought some two to three decades ago is over, a holdover from when Singapore was a Third World economy.
Singapore is now a First World economy.
Runaway property prices lead to an increase in costs and a decrease in competitiveness, as well as create and escalate socio-economic problems.
Rising property prices are also a root cause of inflation here.
Those who have speculated in property should be prepared for the ups and downs of doing so. And permanent residents affected by the latest measures can always opt to become citizens.
The new measures should not just be temporary. They should be permanent, so as to set the right expectations regarding the Singapore property market - that it is strictly for owner-occupation and not speculation.
In fact, more measures should be introduced if the present ones lose their effectiveness.
Yeo Eng Huat
Music of the night
where is Mr Basic ... I expect him to come back and claim that he is right after all
Ride at your own risk !!!
Junior
NB! Ya better don't go hiding anymore..where is Mr Basic ... I expect him to come back and claim that he is right after all
Last time talk BIG BIG what S'pore property price will crash is due to external news.. nothing to do with cooling measures..
Too many CANNOT MAKE IT post, I'm still waiting for MR B to come back to answer to us.. but I just name a few below..
March-2012
July-2012sure...interest rate on the way up but slowly...within next 12 months, it will trigger a super fast & furious rate hike....song!! the higher the better, double digit will be super nice.....
July-2012
Office Boy
Sometimes a recap is good.
Reading all these makes you want to laugh.
If I know of anyone who really waited based on the above posts, I will really give him an ang pow for entertaining me!
DKSG
Junior
NB! Ya better don't go hiding anymore..
Last time talk BIG BIG what S'pore property price will crash is due to external news.. nothing to do with cooling measures..
Too many CANNOT MAKE IT post, I'm still waiting for MR B to come back to answer to us.. but I just name a few below..
March-2012
July-2012
July-2012
Mr.B chow lor leow.
Junior
That's why I had been having a "good laugh" right from the beginning of this USELESS thread.. Laugh till the day MR B go MIA..
Thereafter no more "jokes" liao.. Now very sigh!!
Office Boy
15 months of drama.That's why I had been having a "good laugh" right from the beginning of this USELESS thread.. Laugh till the day MR B go MIA..
Thereafter no more "jokes" liao.. Now very sigh!!
DKSG
Senior
good lah, landed like those in the picture correct a bit also good. make things healthier in the long run.
Senior
not all landed are over priced lah
however i agree with BJ21T some landed of land size 14xx sqft built up to almost 4000 sqft and sell at almost 1800 psf in D 15
where the roads are so narrow and noisy and dusty etc
just becos its within 1 km of some school
those landed are ridiculous
forever there are still some decent ones like in D14 ... with an MRT station nearby ...going around 950-1250 psf
i think those are fairly priced
Senior
yeah agree. anyway, i don't mind a correction even if it affects, it's better for the longer run.
Senior
check out the market across the other side of the pacific:
http://www.cnbc.com/id/100380754
Junior
Then I think you can go ahead to prepare an Ang Pow for the one & only YOUNG KOK cum INEXPERIENCE.. SELETAR airbase liao
Office Boy
Hard to meet him leh!Then I think you can go ahead to prepare an Ang Pow for the one & only YOUNG KOK cum INEXPERIENCE.. SELETAR airbase liao
I am on the boat, while he is still at the jetty waiting and waiting ...
DKSG
Junior
The price of property in jakarta is now off the chart. A shop house in kelapa gading just went up to 10 billion rupiah (1.25 million sgd) from 8 billion rupiah (1 million sgd). In view of regional price increase, its hard to see sg property is coming down.
Junior
I think this YOUNG KOK cum INEXPERIENCE waited too long at the jetty..
Then on 20-June-2012.. try his luck by saying the below.. but soon after that, lots of record breaking price in the resale mkt including 5-rm crossed 1-mio.. HUDC 1.33-mio etc etc
In the end, lan lan went back to SELETAR airbase barrack to stay
20-June-2012
Newbie
Good move by the government,
Some people felt they are in good position, in control,
have few properties, making money.
This type of people will continue to expect property to rise
and rise in order to maintain their interest.
Those hoping that prices to moderate,
Is considered "selfish" to them and is a hindrance.
So for those who are playing this game,
Let them buy more and more properties,
And at the same time tax them more and more.
Make them drop back down to earth.
Newbie
Yes, who knows the next cm will be a few times more tax on 2nd, 3rd properties? Hahaha
Office Boy
Hmmm ...
U all understand the meaning of Cooooooling Measures ?
It means something is RED HOT and needs to be cooled down.
Not crash it. Government's intention is never to crash the property market.
And the underlying principle is that government is protecting the value of land in Singapore. If too low, they dont sell.
Just like us all. If now people offer your HDB/property same price as your neighbour, will u sell ? NO!
Ok la. Enough sharing from an Office Boy.
Think, my friends, Think! Is the government on the side of property owners or non-property owners when 90% of Singaporeans own properties ?
DKSG
Newbie
.....hahaha, once if the price drop, and if you could afford to buy a property, you will want the price to go up........just like all the young couples complaining cannot afford or cannot get a HDB flat....majority would not be satisfied with what they get and will cash in once MOP is over.
And as the value go up but before you manage to sell the govt impose Cmxx, you will curse the govt.......it depends on which side of the fence you are at.
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