Still bullish on Singapore property

[Thomson Financial]

Singapore's Q1 GDP growth beats forecast on strong manufacturing sector
Thomson Financial
Singapore
Thursday, 10 April 2008, 02:44 GMT

Singapore's economy expanded at a forecast-beating 7.2% in the first quarter from a year earlier, led by a double-digit rebound in manufacturing, advance estimates by the Ministry of Trade and Industry (MIT) showed Thursday.

Economists polled by Thomson Financial were expecting an average 6.4% rise in the first quarter, with forecasts ranging from 5.2% to 7.8%. Growth in the fourth quarter was at 5.4%.

Seasonally adjusted, growth was much more robust at 16.9%, rebounding from the fourth quarter's 4.8% contraction, the ministry said.

"This was line with expectations of a rebound after weakness in the fourth quarter, which has been concentrated in manufacturing. They were assuming healthy manufacturing numbers in March but this does not alter the basic story [that there will be] moderation in growth in 2008," said David Cohen, chief economist at Action Economics.

The advance estimates by the ministry were based on available economic data for the first two months of the quarter.

According to the estimates, the manufacturing sector expanded by 13.2% in the first quarter from a year ago, sharply higher than the 0.2% growth in the fourth quarter, with biomedical output recovering from a slump.

"The rest of the manufacturing clusters also enjoyed a better performance in the first quarter, with the exception of the transport engineering and precision engineering clusters, where growth moderated," the government said.

Activity in the construction sector gained pace to double-digit levels but is expected to moderate from the strong fourth quarter.

The construction sector expanded by 14.6%, compared with 24.3% growth in the fourth quarter.

Growth in service industries continued to expand, led by financial services, but may have slightly moderated to 7.6% from 7.7% in the fourth quarter based on MTI's estimates.

The strong GDP numbers provided the Monetary Authority of Singapore (MAS), the city-state's de facto central bank, the leeway to tighten its foreign exchange policy to tackle soaring inflation.

The consumer price index (CPI) in Singapore was up 6.6% in January, a 25-year high, with just a slight moderation to 6.5% in February.

The MAS said on Thursday it is re-centering its policy band at the current strong level of the Singapore dollar nominal effective exchange rate (NEER).

"They [MAS] seem like they are pretty confident that things are holding up nicely," said Cohen.

The MAS is still predicting GDP growth this year of between 4% and 6%, although growth is expected to ease in the next few quarters, while inflation is expected to be at the upper end of the central bank's forecast range of 4.5% to 5.5%.

"The [economic] outlook is still dependent on the global picture, which remains uncertain. Everyone is still nervous about the U.S. economy and how much it will drag down global demand," said Cohen.

[Unregistered]

That's the way it should be.

[Unregistered]

Last year Spore GDP up 7.7%, property up 31%.
Q1 GDP is out this morning, up 7.2%, very closed to last year growth.

The signal is very clear, but still, not all will catch it right.

[Reuters]

Technology and retail stocks fuel rally
Kevin Plumberg
Reuters
New York, New York, U.S.
Thursday, 10 April 2008, 4:31PM EDT


Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters

Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.

Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.

Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.

Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.

"If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.

General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.

An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.

Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.

"It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.

Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.

The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.

DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see

Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.

Intel's stock gained 3.1% to $22.08 on the Nasdaq.

Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.

Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.

Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.

[Unregistered]

Wah! Dow Jones also cheong. Swee!

[Unregistered]

Wah! Dow Jones also cheong. Swee!

DOW WOW WOW
SAID THE MORON NOW
LITTLE DOES HE KNOW
THAT EVERYTHING GOING LOW
JAPAN US AND CHINA SINK
BUT THE MORON CAN HE THE NEWS LINK?
HAD A CHANCE TO DUMP AND RUN
BUT HE HANGS AROUND TO WATCH THE FUN
O LORD SAVE HIM FROM THE MISERY
BECAUSE HE IS ON A SLOPE SLIPPERY
CRASH CRASH SPLASH SPLASH THUD THUD
WHAT MORE CAN WE SAY ABOUT THE DUD!!!

[Unregistered]

DOW WOW WOW
SAID THE MORON NOW
LITTLE DOES HE KNOW
THAT EVERYTHING GOING LOW
JAPAN US AND CHINA SINK
BUT THE MORON CAN HE THE NEWS LINK?
HAD A CHANCE TO DUMP AND RUN
BUT HE HANGS AROUND TO WATCH THE FUN
O LORD SAVE HIM FROM THE MISERY
BECAUSE HE IS ON A SLOPE SLIPPERY
CRASH CRASH SPLASH SPLASH THUD THUD
WHAT MORE CAN WE SAY ABOUT THE DUD!!!

Ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone mad!

[Unregistered]

Ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone mad!

MADDOG, TIGERSEE, FOREIGNER
WHO KNOWS THIS GOD SENT MESSENGER?
CAME AS AN ANGEL OF LIGHT
TO WARN US OF THE MARKETS COMING PLIGHT
RIDICULED BY FREAKS AND MORONS
YET HE GIVES ADVICE WISER THAN SOROS
LET US GIVE GIVE HIM THREE CHEERS
INSTEAD OF THE MANY JEERS
KEEP ON THE GOOD WORK DEAR!!!

[Unregistered]

MADDOG, TIGERSEE, FOREIGNER
WHO KNOWS THIS GOD SENT MESSENGER?
CAME AS AN ANGEL OF LIGHT
TO WARN US OF THE MARKETS COMING PLIGHT
RIDICULED BY FREAKS AND MORONS
YET HE GIVES ADVICE WISER THAN SOROS
LET US GIVE GIVE HIM THREE CHEERS
INSTEAD OF THE MANY JEERS
KEEP ON THE GOOD WORK DEAR!!!

Ha ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone madder this time!
He thinks he is an angel and wiser than anybody else! Ha ha ha!

[Unregistered]

Technology and retail stocks fuel rally
Kevin Plumberg
Reuters
New York, New York, U.S.
Thursday, 10 April 2008, 4:31PM EDT


Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters

Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.

Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.

Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.

Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.

"If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.

General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.

An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.

Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.

"It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.

Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.

The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.

DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see

Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.

Intel's stock gained 3.1% to $22.08 on the Nasdaq.

Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.

Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.

Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.

Up wah! Why they say down?

[Unregistered]

MADDOG, TIGERSEE, FOREIGNER
WHO KNOWS THIS GOD SENT MESSENGER?
CAME AS AN ANGEL OF LIGHT
TO WARN US OF THE MARKETS COMING PLIGHT
RIDICULED BY FREAKS AND MORONS
YET HE GIVES ADVICE WISER THAN SOROS
LET US GIVE GIVE HIM THREE CHEERS
INSTEAD OF THE MANY JEERS
KEEP ON THE GOOD WORK DEAR!!!

Thank you angel.
Last yer u warn me of market crash and it huppen in 6 month. now u say will come more down I sold my condo and thanks again for the edvice.

[Unregistered]

MADDOG, TIGERSEE, FOREIGNER
WHO KNOWS THIS GOD SENT MESSENGER?
CAME AS AN ANGEL OF LIGHT
TO WARN US OF THE MARKETS COMING PLIGHT
RIDICULED BY FREAKS AND MORONS
YET HE GIVES ADVICE WISER THAN SOROS
LET US GIVE GIVE HIM THREE CHEERS
INSTEAD OF THE MANY JEERS
KEEP ON THE GOOD WORK DEAR!!!

Thank you angel.
Last yer u warn me of market crash and it huppen in 6 month. now u say will come more down I sold my condo and thanks again for the edvice.

Ha ha! Maddog/tigersee, the foreigner who can't afford condo, is really mad this time. He posts peoms in this forum and yet reply to his own peoms!

[Unregistered]

TANGLIN RD, ST REGIS RESIDENCES, Flr: 349.02529999999998673587686681685227085836231708526611328125sqmt/3757sqft, BEST PRICE!! ST Regis $2900psf. 3757 sqft. High flr, poolview. JANET LIM 9108 5488, AGT, 91085488 (2008-04-09)


See... sell cheap cheap already.
Record high was about $5000+

[Unregistered]

TANGLIN RD, ST REGIS RESIDENCES, Flr: 349.02529999999998673587686681685227085836231708526611328125sqmt/3757sqft, BEST PRICE!! ST Regis $2900psf. 3757 sqft. High flr, poolview. JANET LIM 9108 5488, AGT, 91085488 (2008-04-09)


See... sell cheap cheap already.
Record high was about $5000+

Wah so low......MARKET SINKING? Ohhhhhhh people scrambling for exits? Ohhh avoid Tanglin area today.....Mad rush you may get trampled. Bolood Blood.

[Unregistered]

TANGLIN RD, ST REGIS RESIDENCES, Flr: 349.02529999999998673587686681685227085836231708526611328125sqmt/3757sqft, BEST PRICE!! ST Regis $2900psf. 3757 sqft. High flr, poolview. JANET LIM 9108 5488, AGT, 91085488 (2008-04-09)


See... sell cheap cheap already.
Record high was about $5000+

Yes, $5000+ is the penthouse.
You buying this lousier unit? Why don't buy the penthouse? Nice view!
Anyway, try calling her. See if her owner is selling or she is selling.

[Unregistered]

TANGLIN RD, ST REGIS RESIDENCES, Flr: 349.02529999999998673587686681685227085836231708526611328125sqmt/3757sqft, BEST PRICE!! ST Regis $2900psf. 3757 sqft. High flr, poolview. JANET LIM 9108 5488, AGT, 91085488 (2008-04-09)


See... sell cheap cheap already.
Record high was about $5000+

Down so fast meh? Cannot believe the price? Am I dreaming? Let me go call her and find out.

[Unregistered]

Wah so low......MARKET SINKING? Ohhhhhhh people scrambling for exits? Ohhh avoid Tanglin area today.....Mad rush you may get trampled. Bolood Blood.

Why maddog/tigersee, the foreigner who can't afford condo? You bleeding now? Ha ha ha! Pathetic!

Market is sinking with a 4.2% price increase? Ha ha ha! More pathetic!

[Unregistered]

Down so fast meh? Cannot believe the price? Am I dreaming? Let me go call her and find out.

Just called. She recommended another lower-floor unit.

[Unregistered]

Just called. She recommended another lower-floor unit.

Oh! So bullshit one lah.

[Unregistered]

Yes, $5000+ is the penthouse.
You buying this lousier unit? Why don't buy the penthouse? Nice view!
Anyway, try calling her. See if her owner is selling or she is selling.

Its high floor and facing pool. Its a good unit. even if it is not penthouse, the difference wont be that much!!!
considering non penthouse selling at $4000 high last year, $2900 is still so cheap!!

[Unregistered]

Just called. She recommended another lower-floor unit.

Dont mislead the forum. Which floor is it? You could be sude for giving wrong information. Some serious buyer may lose out.

[Unregistered]

Its high floor and facing pool. Its a good unit. even if it is not penthouse, the difference wont be that much!!!
considering non penthouse selling at $4000 high last year, $2900 is still so cheap!!

Called. $2,900psf for lower-floor unit.

[Unregistered]

Dont mislead the forum. Which floor is it? You could be sude for giving wrong information. Some serious buyer may lose out.

You call her now. Sue me if I am wrong. Sue yourself if you are wrong.

[Unregistered]

Called. $2,900psf for lower-floor unit.

THIS IS MAD DOG. I CAN AFFORD ONLY 10 SQ FT AT THAT PRICE.

[The Straits Times]

Singapore economy grows 7.2% on strong showing in manufacturing
Nicholas Fang
The Straits Times
Friday, 11 April 2008

Singapore's economy turned out to be surprisingly resilient in the first quarter, easily beating market expectations with strong growth of 7.2%.

The advance estimates issued by the Ministry of Trade and Industry (MTI) reported yesterday were a marked improvement over the 5.4% posted in the final quarter of last year.

Earlier reports had suggested market expectations of 5.9% growth.

On a seasonally adjusted annualised basis, the economy grew at a breakneck rate of 16.9% quarter-on-quarter. It shrank 4.8% in the final three months of last year.

However, economists do not believe the strong performance signifies an uptrend for the rest of the year. They point to a potential recession in the United States and rising global inflation.
The advance estimates are based largely on data from the first two months of the quarter and are intended as an early indication of growth. They are subject to revision when more comprehensive data is available, MTI said.

It said manufacturing and services were contributors to the better-than-expected first quarter growth.

Manufacturing is estimated to have expanded by 13.2% in the first quarter, compared to a mere 0.2% rise in the previous three months.

It was also considerably higher than the 3.9% registered in the first three months of last year.

'This was largely due to a surge in the output of the biomedical manufacturing cluster, following its contraction in the previous quarter,' MTI said.

'The rest of the manufacturing clusters also enjoyed better performances ...with the exception of the transport engineering and precision engineering clusters, whose growth moderated.'

Another highlight was the services- producing industries which held steady at 7.6%, similar to the 7.7% in the previous quarter as well as in the corresponding period last year.

'Financial services continued to be the fastest-growing among the services sectors,' MTI said.

However, the figure for the slowing construction sector was less rosy with growth slipping to 14.6% from 24.3% in the preceding quarter.

United Overseas Bank economist Ho Woei Chen said this was disappointing, given the sector's strong run of late. 'It was a bit of a disappointment after three quarters of growth above 20%.'

But she still expected the sector to contribute to growth this year, on the back of infrastructure projects such as the integrated resorts and the proposed Sports Hub in Kallang.

Citigroup economist Chua Hak Bin said the overall growth figure for the first quarter was slightly below the bank's expectations of 7.8%, but he was surprised at the strength of the services sector. 'I thought services might have softened but it is holding up fairly well.'

He was less positive about the rest of this year, saying that the first-quarter figures were unlikely to provide a telling picture of what lies ahead. 'A US recession is in the works and chances are it could be a prolonged one.

'This will affect exports and add to the credit stress facing Singapore companies, which are already finding it harder to secure financing from banks, which are more careful with lending in the wake of the global credit crunch.'

CIMB-GK economist Song Seng Wun said that rising inflation, especially for food prices, will be a major concern.

'People are focusing on issues such as the rising price of rice and this is something that could persist for the rest of the year.'

None of the economists interviewed was inspired to revise full-year growth forecasts, which range from 4.7% to 5.5%. MTI has forecast a range of 4% to 6% for the year.

[Unregistered]

Singapore economy grows 7.2% on strong showing in manufacturing
Nicholas Fang
The Straits Times
Friday, 11 April 2008

Singapore's economy turned out to be surprisingly resilient in the first quarter, easily beating market expectations with strong growth of 7.2%.

The advance estimates issued by the Ministry of Trade and Industry (MTI) reported yesterday were a marked improvement over the 5.4% posted in the final quarter of last year.

Earlier reports had suggested market expectations of 5.9% growth.

On a seasonally adjusted annualised basis, the economy grew at a breakneck rate of 16.9% quarter-on-quarter. It shrank 4.8% in the final three months of last year.

However, economists do not believe the strong performance signifies an uptrend for the rest of the year. They point to a potential recession in the United States and rising global inflation.
The advance estimates are based largely on data from the first two months of the quarter and are intended as an early indication of growth. They are subject to revision when more comprehensive data is available, MTI said.

It said manufacturing and services were contributors to the better-than-expected first quarter growth.

Manufacturing is estimated to have expanded by 13.2% in the first quarter, compared to a mere 0.2% rise in the previous three months.

It was also considerably higher than the 3.9% registered in the first three months of last year.

'This was largely due to a surge in the output of the biomedical manufacturing cluster, following its contraction in the previous quarter,' MTI said.

'The rest of the manufacturing clusters also enjoyed better performances ...with the exception of the transport engineering and precision engineering clusters, whose growth moderated.'

Another highlight was the services- producing industries which held steady at 7.6%, similar to the 7.7% in the previous quarter as well as in the corresponding period last year.

'Financial services continued to be the fastest-growing among the services sectors,' MTI said.

However, the figure for the slowing construction sector was less rosy with growth slipping to 14.6% from 24.3% in the preceding quarter.

United Overseas Bank economist Ho Woei Chen said this was disappointing, given the sector's strong run of late. 'It was a bit of a disappointment after three quarters of growth above 20%.'

But she still expected the sector to contribute to growth this year, on the back of infrastructure projects such as the integrated resorts and the proposed Sports Hub in Kallang.

Citigroup economist Chua Hak Bin said the overall growth figure for the first quarter was slightly below the bank's expectations of 7.8%, but he was surprised at the strength of the services sector. 'I thought services might have softened but it is holding up fairly well.'

He was less positive about the rest of this year, saying that the first-quarter figures were unlikely to provide a telling picture of what lies ahead. 'A US recession is in the works and chances are it could be a prolonged one.

'This will affect exports and add to the credit stress facing Singapore companies, which are already finding it harder to secure financing from banks, which are more careful with lending in the wake of the global credit crunch.'

CIMB-GK economist Song Seng Wun said that rising inflation, especially for food prices, will be a major concern.

'People are focusing on issues such as the rising price of rice and this is something that could persist for the rest of the year.'

None of the economists interviewed was inspired to revise full-year growth forecasts, which range from 4.7% to 5.5%. MTI has forecast a range of 4% to 6% for the year.

Ohh so much for confidence.......

[Unregistered]

[/b][/color][/size]

Ohh so much for confidence.......

Exactly!
They have so much confidence that it will be 5% GDP growth for Q1.
Yet turned out to be ...

[Unregistered]

Exactly!
They have so much confidence that it will be 5% GDP growth for Q1.
Yet turned out to be ...

Like I said before, Singapore is transforming itself differently this time around. We have so many growth engines coming up in the next few years and I am cautiously confident nothing can really stop us from leaping ourself into a different league. We have so much to provide FTs to come and take up residency, bring up their family where Singapore is going to provide foreigners, a safe and sustainable growth environment.

I just don't understand why there are still alot of pessimist who still think we cannot achieve what we have set out for, they talk down on our property market, they talk bad about our economy. I am proud to proclaim that our govt's plans will be for the longer term growth which many of us cannot appreciate it at this point in time. Just look at T3, few years back, I was pretty concern about it. But now I knew how far sighted our govt was. Look at the record no. of tourist coming here, look at the occupancy rate for hotels, look at the restaurants on weekdays, its packed and everywhere I go is full of vibrancy. Even if US economy goes down, we will be affected but I think Singapore can ride it out on its own.

[Unregistered]

But... have you look at the growing number of people asking for food aid, or the number of un(der)employed locals?

[Unregistered]

Like I said before, Singapore is transforming itself differently this time around. We have so many growth engines coming up in the next few years and I am cautiously confident nothing can really stop us from leaping ourself into a different league. We have so much to provide FTs to come and take up residency, bring up their family where Singapore is going to provide foreigners, a safe and sustainable growth environment.

I just don't understand why there are still alot of pessimist who still think we cannot achieve what we have set out for, they talk down on our property market, they talk bad about our economy. I am proud to proclaim that our govt's plans will be for the longer term growth which many of us cannot appreciate it at this point in time. Just look at T3, few years back, I was pretty concern about it. But now I knew how far sighted our govt was. Look at the record no. of tourist coming here, look at the occupancy rate for hotels, look at the restaurants on weekdays, its packed and everywhere I go is full of vibrancy. Even if US economy goes down, we will be affected but I think Singapore can ride it out on its own.

.... but hotel is a problem .... not enough rooms .... need to bring somr tourists to stay in JB hotels ....