Can't advise you lah.Originally Posted by Unregistered
Where is your property?
In Jurong Lake District? Outside JLD?
Can't advise you lah.
Where is your property?
In Jurong Lake District? Outside JLD?
They better make sure they could solve the space problem in Shenton Way area. The banks need the space.
Ask the non-banking MNCs' HQs (such as manufacturing's, logistic's, etc.) to move to other hubs (e.g. Changi Business Park, one-north, Changi South, Selatar Aerospace Hub, etc.).
Well said!
The same thing happened at tour fairs. People just grab a queue number for all the tour packages even though they may just buy 1 of the packages. People should just queue up for what they want instead of queuing up for the sack of queuing.
Anyway, I hope the authority will make sure the remaining 194 units do not get "blocked" by those who have no interest to buy. This is unfair to those keen buyers.
Dear Mom,
If you had listened to your Grandpa and become a Minister, instead of a nagger, then you will be living in a prime bungalow and not become a eye sore today.
With Love,
Grandpa
Don't worry! These 194 buyers/families will be given a fair chance to buy.
The authority has learned their lesson. They are doing something about it.
Haha with the sub prime mess and the down turn banks would move out to Jurong.
Another sweeping statement .....
The fact is banks are hiring and seeking more spaces in Singapore and Asia Pacific.
Don't get confused.
Maddog/tigersee is the local who is priced out of the condo market. He is quite pissed and sour now and keep shouting "Boom Boom Boom" so that he can recover what he lost in D23.
Dear Grandpa,
Wish I had listened to you. I lost big time since the market has cooled down. My son keeps trying to talk up the market but to no avail. He tried jumping off one of the high rises but luckily for him he landed on one of his fellow speculators who was fleeing for the exits.
My eyes are sore and I am worried for my son who wakes up in the middle of the night saying shouting "Boom Boom Boom" saying market is up up up. I tried everything and even bought him a monopoly set so that he can buy low and sell high although in real life he bought high and now...... Please pray for him earnestly.
With Love,
Mom
Maddog/tigersee, the foreigner, is confused.
".. priced out of the condo market .." means can't afford condo right?
If can't afford condo, then where to get a condo in D23?
Ha ha ha!
Anyway, D23 has one of highest increase in price recently. Good news? Ha ha ha!
Maddog/tigersee, the local, is confused.
Priced out could mean for buying or selling.
Hahaha he is a bit poor in English although it is not his fault. His Mom didnt listen to Grandpa and send him to an english medium school.
Maddog/tigersee, the foreigner, is really confused now.
The other guy said he is your mom. Why reply me on his subject? Ha ha ha!
ANZ Increases Bad-Debt Provisions to A$975 Million
By Stuart Kelly
April 7 (Bloomberg) -- Australia & New Zealand Banking Group Ltd. increased bad-debt provisions by 71 percent, joining Commonwealth Bank of Australia in predicting rising defaults this year as higher interest rates curb economic growth.
ANZ tumbled 4.9 percent at 12:54 p.m. in Sydney. The Melbourne-based bank, the country's third largest, set aside about A$975 million ($895 million) in the six months ended March 31 to cover potential non-performing loans, compared with A$567 million for all of fiscal 2007, it said in a statement today.
Bigger rivals Commonwealth Bank and National Australia Bank Ltd. also fell today, reflecting concern that the global credit crisis and higher interest rates will spark more defaults and cut profits. Lehman Brothers Holdings Inc. in February said the nation's four largest banks may need to triple provisions for bad debts as companies face the highest borrowing costs in 13 years.
``Bad-debt provisions have been at the lowest that I can remember for so long, and that's starting to change for the banks now as repeated interest rate increases start to bite their customers,'' said Hans Kunnen, head of investment market research at Sydney-based Colonial First State Global Management, which oversees $128 billion of assets.
ANZ's provision for bad debts reflects rating downgrades in commercial property and broking industries, increased asset growth as customers returned to banks as their main source of funding, and allowances for the impact of the global credit squeeze.
Allco, Centro
Australia's banks face rising provisions as customers including Allco Finance Group Ltd., Centro Properties Group and MFS Ltd. have struggled to repay loans amid the global credit crisis. Lenders raised interest rates faster than the central bank this year to pass on increased wholesale funding costs.
The nation's four biggest banks booked a combined A$2.27 billion of provisions for bad debts in their 2007 fiscal year, and lent an estimated A$6.53 billion to troubled companies, Lehman analysts said in a Feb. 29 note.
ANZ said it's taking a ``conservative approach'' when reviewing possible provisions. It sold half of the assets it seized from collapsed stockbroker Opes Prime Group Ltd. to recover its money, an executive from appointed receivers Deloitte Touche Tomatsu said on April 6. ANZ also funded Centro Properties, the Australian property trust now struggling to refinance A$4.9 billion of debt.
``As turmoil in global markets and the slowing of the U.S. economy plays out and the Australian economy slows due to tighter monetary conditions, there are likely to be flow-on effects for the commercial portfolios,'' Chief Executive Officer Mike Smith said in the statement.
Rivals Suffer
National Australia fell 2.8 percent in Sydney and Commonwealth Bank slid 3.2 percent. The S&P/ASX 200 Banks Index, consisting of seven Australian banking stocks, has declined 17 percent this year.
ANZ is scheduled to report earnings on April 23. Smith on Feb. 18 said provisions will ``offset'' forecast profit growth of 12 percent in the year ending Sept. 30.
Commonwealth Bank in February posted the slowest profit growth in more than three years as provisions for bad debts jumped 71 percent and its bad-loan ratio increased. Westpac Banking Corp. said Feb. 5 that rising short-term borrowing charges will cost it about A$85 million in the first half.
National Australia, the nation's biggest bank, in February said most of its A$221 million gain from shares received in Visa Inc.'s initial public offer will be used to offset a one-off bad debt provision.
Maddog/tigersee, the local is really confused now.
The other guy said he is your mom. Why reply back to me on his subject? Ha ha ha!
Dear Mom and Grandpa and Dead Brother,
I am sad that property prices in Hell has fallen by 500%.
I just went to a medium in the temple and she showed me that your www.Hell-URA.gov.sg residential property index has fallen by 500%. You must have lost a lot of money.
Up here in Singapore, our URA residential property index has just gone up by 4.2% this latest quarter. I don't know whether your Hell internet can access our website but here is the URL http://www.ura.gov.sg/pr/text/2008/pr08-35.html.
Please tell brother it is useless to jump out of high rises because he is already dead and will not die again. Also all of you are already in the 18th Level of Hell so that is the lowest level, it just can't go lower anymore.
Rest assured I will pray for him earnestly.
I will also pray for Grandpa and you.
I will also you burn you some Hell currency to make up for your losses.
With Love,
Still Alive Son
MRT service disrupted
Singaporeans once again faced MRT service disruption as they headed for work this Monday morning, when a man was found dead on the train track at the Choa Chu Kang MRT Station.
Police received a call at 8 am that a man had fallen onto the track. The man, a Chinese in his mid-40s, was pronounced dead at 8.30 am.
A portion of the North-South line was affected. According to signs flashed at MRT stations, there was no train service from Yew Tee station to Bukit Gombak station towards Jurong East station.
Trains running on this line had to turn around.
SMRT deployed a dozen buses to the station to bring the stranded commuters to the connecting stations shortly after 8 am.
Normal train services resumed at about 8.50 am after the body of the man was removed from the track.
A shopkeeper in the station said he heard commuters saying that the man had jumped onto the track.
Singapore Civil Defence Force and Singapore Police Force personnel were seen at the scene, which has been cordoned off. Police are now investigating the case
Heartless souls. Crack joke on the dead.
Oh Maddog/Tigersee, we feel sorry for your brother. Please listen to Grandpa and sell now before you suffer the same fate as your brother. And if you are ready to go to where your brother is plan on investing in Vampire Court, Blood valley, Satanic towers and Devil gardens there. Grandpa wont make it there but you can start afresh and speculate all over again.
With love,
Grandpa
Property mkt only started to pick up in mid/late 2005. Now only 1st half of 2008. Property cycle last much longer than this.
This current quiet mkt is reflecting that it is only taking a breather. Just like the stock mkt, it can't go up all the time, though maintaining its uptrend, it will bound to retreat (breather) for a period before making a new high.
If this is the case, our property mkt has been taking its breather since Nov07 and till date it is almost 6 mths of rest after 3 yrs uptrend. Based on this, it is likely property mkt will start picking up very soon and how long the next uptrend, no one knows. Watch for this phenomenom.
Not heartless, remind people not too be complacent, things happens.
What have they done? Nothing!
It's a lousy and unfair system.
MRT is complacent? Then crack joke on MRT in the transport-related thread.
Don't crack joke on this guy. I's not saying he did the right thing but don't pass judgement on him. Especially in relationship problems, there is no right or wrong.
Now finally I know where all these Sour Grapes are staying.
Sour Grapes are staying in Vampire Court, Blood valley, Satanic towers and Devil gardens.
Now I know why no matter which part of Singapore the Government tries to invest and enhance the infrastructure, the Sour Grapes in this forum are not happy.
When the Government tried to rejuvenate and beautify Orchard Road, Sour Grapes are not happy but remain sour. http://app.stb.gov.sg/asp/new/new03a.asp?id=7843
Hence Sour Grapes can't be staying in the Central Orchard Area.
When the Government invest billions in Marina Bay, Sour Grapes are still not happy but remain sour.
http://www.pmo.gov.sg/News/Speech+by...ear+Dinner.htm
Hence Sour Grapes can't be staying in the Southern Marina Bay Area.
When the Government wants to extend MRT to Marine Parade via the Eastern Region Line, Sour Grapes are still not happy but remain sour. http://en.wikipedia.org/wiki/Eastern_Region_MRT_Line
Hence Sour Grapes can't be staying in the East.
When the Government wants to extend MRT to the North via the Thomson Line, Sour Grapes are still not happy but remain sour.
http://en.wikipedia.org/wiki/Thomson_MRT_Line
Hence Sour Grapes can't be staying in the North.
When the Government wants to beautify the North-East Region via the Punggol 21-plus Plan, the Sour Grapes are still not happy but remain sour.
http://en.wikipedia.org/wiki/Punggol_New_Town
Hence Sour Grapes can't be staying in the North-East.
Finally this week, the Government announced the Jurong Redevelopment Plan, the Sour Grapes are still not happy but remain sour.
http://www.todayonline.com/articles/246705.asp
Hence Sour Grapes can't be staying in the West.
Every where the Government throws money, it did not hit the Sour Grapes.
The only region where the Government has so far not reached is the North-West Region. The Lim Chu Kang Cemetery.
Vampire Court
No. 2, Lim Chu Kang Lorong 3.
Blood valley
No. 71, Lim Chu Kang Lorong 6.
Satanic towers
No. 666, Lim Chu Kang Lorong 666.
Devil gardens
No. 666A, Lim Chu Kang Lorong 666.
This confirms my suspicion that all the sour grapes in this forum are not Singaporeans.
In fact, they are not even from this world.
They are 冤鬼 (ghosts) staying in 十八层地狱 (18th level of Hell).
That's why their 地狱 www.Hell-URA.gov.sg shows the Hell property prices has plunged by 500% whereas our 人间 www.ura.gov.sg shows property prices has increased by 4.2%.
Different world, different index.
Is this a property forum or what? Have you gone nuts? Dont distort URA website url. It is a serious matter.
HAHA FIND IT HARD TO BELIEVE THAT SINGAPOREANS COULD BE WASTING SO MUCH PRODUCTIVE TIME. YOUR PAY SHOULD BE CUT 50%.
Don't waste time saying fair or unfair lah.
60 units sold during weekends. Only 194 units left.
If you are interested, quickly grab one before they are gone.
Wah! Cheong liao lor!
Bank savings earn less interest as key rate plunges
Banks trim rates on deposits as they struggle to maintain margins
Gabriel Chen
The Straits Times
Monday, 7 April 2008
Savers are again feeling the pinch as interest rates continue to fall, further squeezing what meagre returns they might get on bank deposits.
Citibank, Maybank and Standard Chartered Bank (Stanchart) have all trimmed rates for their high interest savings accounts given the fall in the rate banks pay each other to borrow cash.
This rate - the Singapore Interbank Offered Rate (Sibor) - hit a 12-month low of 1.25% last month. It has fallen steadily from 2.88% a year ago, and economists say it will drop further.
With their own margins under pressure, banks have responded by trimming rates for customers.
Maybank has cut rates for iSAVvy, an online savings account, from 1.08 per cent to 0.88% a year for a daily balance of $5,000 to $50,000.
Stanchart's rate for its eSaver online savings product is 1.08% a year, down a tad from a month ago when it paid 1.2% for deposits from $50,000 to $199,999.
The base rate for Citibank's Step-Up Interest Account - it pays progressively higher rates as the monthly balance increases - has fallen by more than half to 0.3% a year.
Mr Robin Chua, the head of deposits at Citibank Singapore, said the revised rate of 0.3% is competitive compared with rates for other typical savings accounts.
'The maximum Step-Up interest rate, at 1.2% a year, is actually in line with what the industry offers on a Singdollar, 12-month time deposit,' he added.
DBS Group Holdings, United Overseas Bank and OCBC Bank have also adjusted some of their fixed deposit rates downwards.
For instance, the three banks recently lowered their 12-month fixed deposit rate for amounts between $50,000 and $1 million to 1.2% a year from 1.4% earlier this year.
The leaner interest rates have prompted some consumers to shop around for the best offers in town.
Client servicing staff Mak Wei Jiat recently closed her eSaver account at Stanchart and moved the money to a Maybank iSAVvy account.
'It may be only a small change in interest rates, but it can add up to a lot when you're factoring in a big sum,' she said.
IT operations manager Calvin Chin said with inflation climbing and interest rates declining, he will be earning less on his savings.
Meanwhile, with the share market so volatile, people like himself will be cautious about committing themselves to risky investments.
'For the man in the street, besides keeping cash at home, the option available to him is to continue to keep savings in a bank,' complains the unhappy 38-year-old.
Economists believe saving rates here could head lower in the near term, partly because of interest rate cuts in the United States and a strengthening Singapore dollar.
'We think Sibor will trend below 1% by the second half of the year, and stay low for a while,' said Stanchart economist Alvin Liew, who also believes the US will be in for a protracted recession.
OCBC Bank economist Selena Ling feels any turnaround in Sibor is likely to come only when there is greater clarity over the US recession, what end-point the Federal Reserve sets for its rate-cutting cycle and what monetary policy expectations Singapore's central bank has.
Wah lau! 1.25, still dropping. No hope already lah.
I hv saved for years and paid up for my retired asset, a ppty. But, inflation has eaten up it's value and ruin my retirement plan.
I hope govt can boost the ppty prices so I can hv enough money to retire. I heard that in Dubai ppty prices has increased more than 10 folds since 2002 until today. Beijing, Shanghai, HK and many part of South East Asia hv also increased many many folds since early 2000 until now.
Then, why our ppty prices increase was so short and so little compared to other major city in Asia? How can the retirees survive in this high inflationary environment with so little amount of money?
I read from this forum some ppl said that our ppty prices was intentionally kept low so we can attract foreign talent. Is that true? I hope not.
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