End of property boom in sight?

[Unregistered]

Oh! new home sale has slow so much that KLB start to ask the gov. to re-instate the defer payment scheme, in today's news. But, stuck means stuck and lelong means lelong. very soon we will see blood flooding the streets.

I think KLB's comments are very profound and objective. He urge govt to stick to free market principle. We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore.

Developer can't afford to help govt to provide more housing if the upside prices are capped while contruction costs are skyrocketing. If the market continues to standstill then the impact will eat up into the real sector eventually. Developers postpone the new launching, market facing severe shortage, investor is forced to flee elsewhere, and locals will lose their jobs. Is that what we want to see just to satisfy a small number of sour grapes, at the cost of the entire population?

I think all of us need to relook at our priority and act nimbly before everything is already too late.

[Unregistered]

I think KLB's comments are very profound and objective. He urge govt to stick to free market principle. We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore.

Developer can't afford to help govt to provide more housing if the upside prices are capped while contruction costs are skyrocketing. If the market continues to standstill then the impact will eat up into the real sector eventually. Developers postpone the new launching, market facing severe shortage, investor is forced to flee elsewhere, and locals will lose their jobs. Is that what we want to see just to satisfy a small number of sour grapes, at the cost of the entire population?

I think all of us need to relook at our priority and act nimbly before everything is already too late.

KLB dint say, We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore. you are adding words to it. later klb SUE u. dont be smart alec.

[Unregistered]

Yeah my friend told me that his warehouse worker told him about his 'good for nothing' son who posts nonsense messages about market going up and up. time on Singapore Condo forum.

This guy works in Pioneer Circle too. He said at night his son wakes up screaming "mad dog/tigersee". So this poor man asked my friend if he knew any mad dog. My friend took him to the vet and bought him a mad dog for his son so that the dog can bite him and he really can go mad.

On checking with the poor man, my friend understood that his son always dreamt about a condo since he works as a cleaner in one of the condos that went enbloc and lost his job now. He says he spends time on net looking at condo pictures and cutting and pasting them in his scrap book. Then he says look I bought this condo. now I hold till price goes up.

I told my friend looks like this character sounds familiar coz he keeps mentioning Pioneer Circle. Now we all know why he mentions Pioneer Circle.

I already checked with your friend warehouse worker. He told me that he never has computer at home and his son was a school drop out who is practically illiterate. So how can his son get access and make posting in the internet.

Let me remind you, posting a false accusation is a crime in Singapore. Repent, maddog.

[Unregistered]

KLB dint say, We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore. you are adding words to it. later klb SUE u. dont be smart alec.

Yes he is misquoting people. It is an offence.

[Unregistered]

KLB dint say, We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore. you are adding words to it. later klb SUE u. dont be smart alec.

Don't make comment if you are illiterate, moron.

[Unregistered]

Don't make comment if you are illiterate, moron.

Don't post for the sake of posting, illiterate moron.

[Unregistered]

KLB dint say, We can't force to bring down the ppty price just to satisfy a tiny group of sour grapes in Singapore. you are adding words to it. later klb SUE u. dont be smart alec.

Your response can tell that you're one of the sour grapes. No need to be panic and so work out, if you can't afford to buy a house, then buy a tent loh. Many clowns have done that, what! Ha ha ha ........

[Unregistered]

Yes he is misquoting people. It is an offence.

Let KLB sue until his pants drop., oops maybe he no pants liao..........

[Unregistered]

Your response can tell that you're one of the sour grapes. No need to be panic and so work out, if you can't afford to buy a house, then buy a tent loh. Many clowns have done that, what! Ha ha ha ........

UR stall today no bussiness? y so free? no more selling sugar cane water? now selling tents??????? enterprising !!!!!!! quick go back ur stall, tis place not for u........NOOB

[Unregistered]

Let KLB sue until his pants drop., oops maybe he no pants liao..........

KLB will not sue because he can read and understand well.

While, you are illiterate and only know how to drop your pant to get ppl' attention. What a moron!

[Unregistered]

Don't make comment if you are illiterate, moron.

This is wat he says, dont distort.

Published April 3, 2008

Leng Beng urges nimble feet in shifting landscape

CDL chief suggests review of land sales, rethink on deferred payment scheme

By KALPANA RASHIWALA


(SINGAPORE) The uncertainty surrounding the local property market will last at least another six months and stakeholders must stay nimble to deal with the changing tides, says property tycoon Kwek Leng Beng.

Speaking to BT, he said that the standstill in the local property market would end only after the US sub- prime crisis clears. 'I believe it will take another six months - if not more,' the executive chairman of listed City Developments Ltd (CDL) added.

But any restoration of confidence in the property market will also hinge on stakeholders - in both the private and public sectors - remaining nimble and reviewing their strategies and policies to meet changing market conditions swiftly, Mr Kwek stressed in a recent interview with BT.

'You have to cut your coat according to your cloth. As a developer, if I said last year that I was planning to launch five projects this year, but you know this year the market is quiet, it would be unwise for me to say 'because I decided last year to launch five projects this year, I must still go ahead'.'

He urged the government to likewise review its current land sales programme. The programme was fixed last year, when the market was buoyant, compared to conditions today.

The Government Land Sales Programme is announced every six months. The current H1 2008 slate of sites was announced early last December, which means that some of the decisions were probably made even earlier, property consultants say.

'It's been proven in the past that the Singapore property market is a very important pillar that is closely linked to other markets - for example, financial markets, and the construction sector - and is in part driven by sentiment. So it's vital for stakeholders in the private and public sectors in the property industry to remain nimble. They can do this by reviewing and modifying their practices quickly to stay relevant. By doing this, we can minimise potential problems and address them ahead of time,' argues Mr Kwek, 68, who has about four decades of experience in the property business.

He also advocates a free-market approach to policy at Singapore's current stage of development. 'As Singapore competes in the race among global cities, Singapore must not be perceived as a city that interferes unduly in market forces. We should instead allow market forces to prevail in the property market - unless the situation gets out of hand,' Mr Kwek says.

He also says that the government may have been too quick to scrap the deferred payment scheme last October. Mr Kwek suggests the authorities should reconsider the scheme, which was started around 2002 to help stabilise the weak property buying sentiment at the time.

Under the scheme, private property buyers could buy units in uncompleted developments with just a 10 or 20 per cent downpayment, with the payment for the rest of the purchase price in some cases postponed until the completion of the project. In contrast, under the normal progress payment scheme, buyers have to pay regular instalments to the developer, based on the stage of the project's construction.

'If I am a developer and I want to offer deferred payment schemes to my home buyers, perhaps the developers' bankers may be in a better position to assess the viability of the scheme even whilst staying prudent. The assessment will take into account the project, as well as the developers behind the scheme,' Mr Kwek argues.

Many analysts had blamed deferred payment for fuelling property speculation. Mr Kwek, while acknowledging this, argues that the scheme also served a useful function: it enabled buyers of new residential properties to dispose of their existing properties at a gradual pace, instead of being forced to sell them.

The deferred payment scheme could be revived again - but this time with a higher initial payment of 30 per cent instead of 20 per cent, suggests Mr Kwek, who is also chairman and managing director of listed Hong Leong Finance.

He praises the government's handling of the office crunch. The Urban Redevelopment Authority's introduction of transitional office sites - allowing temporary low-rise office blocks to be built quickly on 15-year leasehold sites - was a swift response to increase office supply for businesses that don't need to be in a posh CBD office block.

'But a global city does not necessarily mean your office rentals have to be cheap. Tokyo, London, New York all have high rents but continue to attract businesses. What's just as important is that you have to create an environment where businesses can make money.

'Don't forget, there are many cities fighting for investments. They can all copy Singapore. It's very easy to duplicate. So to get ahead of the pack, we have to think of something different - something that nobody has done. This boils down to being nimble,' Mr Kwek suggests.

Do u understand?.... or can u read???? Shallow Moron

[Unregistered]

KLB will not sue because he can read and understand well.

While, you are illiterate and only know how to drop your pant to get ppl' attention. What a moron!

Just tell KLB u from IMH., he wont sue u

[Unregistered]

Moron shouts moron, yet still remain moron himself. Pity!

Ha ha ha .................

[Unregistered]

Moron shouts moron, yet still remain moron himself. Pity!

Ha ha ha .................

?????????????????????????????

[Unregistered]

?????????????????????????????

Is that the sign that you are already dropping your pant, moron?

ha ha ha .....................

[Unregistered]

I am STUCKED!!! HELPPPP!!!!

[Unregistered]

Perhaps Mr. KLB could lower the selling price of his properties rather than asking the government to reimplement the DPS.

[Unregistered]

Is that the sign that you are already dropping your pant, moron?

ha ha ha .....................

IQ low....shallow

[Unregistered]

Soros Sees Additional Market Declines After Temporary Reprieve

By Katherine Burton

April 3 (Bloomberg) -- Billionaire George Soros called the current financial crisis the worst since the Great Depression and said markets will fall more this year after a brief rebound.

``We had a good bottom,'' Soros said yesterday in an interview in New York, referring to the rally in stocks and the dollar after JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. on March 17. ``This will probably not prove to be the final bottom,'' he said, adding the rebound may last six weeks to three months as the U.S. moves closer to a recession.

Last summer, worried about market disruptions that started with rising subprime-mortgage defaults, Soros, 77, returned to a more active role in managing the $17 billion Quantum Endowment Fund, whose profits pay for his philanthropic projects. Quantum returned an average of 30 percent a year before Soros started using outside managers in 2000 for much of his money.

He also decided to write a book, his 10th, ``The New Paradigm for Financial Markets'' (Public Affairs, 2008). Released today online, the book explains the causes of the current meltdown, a crisis he says has been in the making since 1980, and the trades he put in place this year to protect his wealth, much of it in Quantum.

Soros has bet on declines in the dollar, 10-year Treasuries and U.S. and European stocks. He expected foreign currencies to rise, as well as Chinese and Indian equities. The latter bet helped Quantum return 32 percent in 2007. Quantum's returns this year have ranged from up 3 percent to down 3 percent.

`Heightened Uncertainty'

The euro has climbed 7.5 percent against the dollar this year and the Japanese yen has gained 9.1 percent. These and other currencies may continue to strengthen, he said.

``There is an increasing unwillingness to hold dollars, though there's a lack of suitable alternatives,'' he said. ``It's a period of heightened uncertainty.''

Federal Reserve officials dropped their benchmark interest rate 2 percentage points this year to 2.25 percent, and Soros doesn't see that they can lower the rate much further, given the weak dollar.

``We are close to the limit,'' he said.

As for his wagers on developing markets, Soros hasn't abandoned his holdings in India, even with the 22 percent drop in the benchmark Indian index this year.

``The fundamentals remain good,'' he said. He is less certain about what will happen to Chinese H shares, which trade in Hong Kong.

Credit-Default Swaps

Credit default swaps -- a way to bet on the creditworthiness of a company -- may be the next crisis area because the market is unregulated, and it's impossible to know whether counterparties can meet their obligations in the event of a bond default. The market has a notional value of about $45 trillion -- or about half the total wealth of U.S. households.

Soros recommends the creation of an exchange with a sound capital structure and strict margin requirements, where current and future contracts could be traded.

The cause of the current troubles dates back to 1980, when U.S. President Ronald Reagan and U.K. Prime Minister Margaret Thatcher came to power, Soros said. It was during this time that borrowing ballooned and regulation of banks and financial markets became less stringent. These leaders, Soros said, believed that markets are self-correcting, meaning that if prices get out of whack, they will eventually revert to historical norms. Instead, this laissez-faire attitude created the current housing bubble, which in turn led to the seizing up of credit markets and the demise of Bear Stearns, Soros said.

To avoid a super-bubble in the future, Soros said banks must control their own borrowing. They must also curtail lending to clients such as hedge funds by demanding greater collateral and margin requirements on loans.

Asked if such moves would make it impossible to achieve returns like those of his pre-2000 days, Soros laughed.

``Since I'm designing these regulations, they would not hurt me,'' he said. ``We made direction bets but we haven't used leverage'' like the $25-to-$1 borrowing that brought down John Meriwether's Long-Term Capital Management LLC in 1998.

Read the below link. It is interesting to counter the above view of Mr Soro.

http://www.24hgold.com/viewarticle.a...ars_Clif_Droke

[Unregistered]

US election coming soon...

but their state is in sub prime crsis leh

actually dun make sense at all

Who know it might just be a scam

to let the market fall, then someone will come

with some form of help ,to oveturn everything

and become president

[Unregistered]

Perhaps Mr. KLB could lower the selling price of his properties rather than asking the government to reimplement the DPS.

KLB is not a moron. He is making business, not charity. How to lower prices if the construction and land costs from URA already over the developer's head?

It's really hard to make a moron like you to understand the fact. Everything is up, even the rice is already up by 300%. The only thing that remains cheap now is sour grapes. Do you want to buy? Yuch..........!!!!!!!!!

[Unregistered]

[QUOTE=Unregistered]Read the below link. It is interesting to counter the above view of Mr Soro.

Basically, the below article is telling you that if someone shouts that the crowded/full capacity boat on fire and ask you to jump off the boat, you must check to see if he is really so kind to save your life and ask you to jump off the boat or he just wants to climb up the boat himself so he ask you to jump.

http://www.24hgold.com/viewarticle.a...ars_Clif_Droke

[Unregistered]

KLB is not a moron. He is making business, not charity. How to lower prices if the construction and land costs from URA already over the developer's head?

It's really hard to make a moron like you to understand the fact. Everything is up, even the rice is already up by 300%. The only thing that remains cheap now is sour grapes. Do you want to buy? Yuch..........!!!!!!!!!

So many Morons in this forum lately, some1, quick call authority to catch all of them.

[Unregistered]

[QUOTE=Unregistered]

Read the below link. It is interesting to counter the above view of Mr Soro.

Basically, the below article is telling you that if someone shouts that the crowded/full capacity boat on fire and ask you to jump off the boat, you must check to see if he is really so kind to save your life and ask you to jump off the boat or he just wants to climb up the boat himself so he ask you to jump.

http://www.24hgold.com/viewarticle.a...ars_Clif_Droke

Your story line reminds me about sour grapes, maddog, boon and all those born losers.

Better stay alert and vigilant!

[Unregistered]

[QUOTE=Unregistered]

Your story line reminds me about sour grapes, maddog, boon and all those born losers.

Better stay alert and vigilant!

Moron no. 1, catch

[Unregistered]

So many Morons in this forum lately, some1, quick call authority to catch all of them.

Btw, your name is on the top of the list. How do you want us to start the operation? Chief Moron!

[Unregistered]

Btw, your name is on the top of the list. How do you want us to start the operation? Chief Moron!

Moron no. 2.catch

[Unregistered]

Read the below link. It is interesting to counter the above view of Mr Soro.

http://www.24hgold.com/viewarticle.a...ars_Clif_Droke

Interesting! Thanks!

[Unregistered]

funny leh when the market is good ,

everyone quiet,

When market in sub prime , out from nowhere

got so many so call "Experts start to give comments"

I mean in the first place are all this ppl really expert?

or just trying to join in the fun?

[Unregistered]

It's always better to talk gloomy forecast than bright forecast. Reason is simple. If the opposite happens, people just forget you. But if you forecast good and turns out bad and people lose money as a result, you will be remembered forever in their bad books. If things turn out gloomy as they have forecasted, then they have a chance to prove themselves.