Newbie
Which one of the three is the person we talking about? I was trying to compare the nose against the nose of the one in modern outfit but couldn't find a fit (the nose of the one in modern outfit has sharper feature). My guess is the centre one, not too sure whether I am right? Whichever three she was, she must have gone for some plastic surgery!Originally Posted by proud owner
F01 N54 Sheer Driving Pleasure
She isn't one of the 3 ...
F01 N54 Sheer Driving Pleasure
Sentosa Cove?how about sentosa cove
Might be getting tougher and tougher to own.
Oh well! How things can change!
Just a month and this piece of news is invalid now.
The 7 Coconut Trees have set a new record of $3,429 psf!
Strange! There are only 7 trees. I thought 100 trees would provide more value-for-money - 17 times more trees? Maybe the buyer didn't bring along his calculator?
F01 N54 Sheer Driving Pleasure
Oct home sales dip, but prime area defies mood of caution
Kalpana Rashiwala
The Business Times
Tuesday, 17 November 2009
The number of private homes that developers launched and sold in October slowed to their lowest levels since housing sales began their revival in February, according to latest official figures. While the outcome was expected, the big question is how long it will take for home sales to rev up again.
Buyers, especially in the price-sensitive mass-market segment, had begun to be fatigued by price increases in the third quarter - even before the government acted on Sept 14 to cool the market. Developers are also running out of mass-market projects which are launch-ready.
'Everybody's more cautious now,' said Knight Frank chairman Tan Tiong Cheng, summing up the current mood among buyers and developers.
DTZ executive director (consulting) Ong Choon Fah said: 'Buying is likely to continue to be slow for the rest of the year. There's not much to launch; and people are away. Activity will probably return after Chinese New Year.'
While developers of a few projects are expected to proceed with launches soon - including Marina Bay Suites and City Developments's new condo on Thomson Road - others have decided to postpone their launches until Q1 next year or even later, when they hope there will be clearer signs confirming the recovery in the Singapore economy that will see buyers emerging from the sidelines again.
Data released by Urban Redevelopment Authority yesterday showed that developers sold 811 private homes in October, down 29% from September's sales of 1,143 homes. This is the third consecutive monthly decline after home sales peaked at 2,772 units in July.
In the first 10 months of this year, developers have sold 13,639 units. Views in the market are mixed whether developers will manage to sell another 1,172 units in the final two months of 2009 to match the record of 14,811 units in 2007.
The 566 units developers launched in October was 60% lower than in the previous month.
The Core Central Region (CCR) - where higher-priced homes are located - fared relatively better in October than the Rest of Central Region (RCR) and Outside Central Region (OCR).
CCR saw a doubling in sales from 152 units in September to 311 units in October; the number of private homes launched in the region also increased 67% over the same period.
In contrast, the number of units launched as well as sold by developers fell in the other two regions. For instance, the number of homes sold in OCR fell 55.2% month on month to 251 units in October. And the number of homes launched in RCR declined to just 40 units in October from 631 in September.
Last month, a total of 250 units were sold in the $1,500 psf to $2,000 psf range, accounting for 31% of total sales in October and representing a big jump from the 92 units sold in this price range in September, Colliers International research director Tay Huey Ying noted. 'This shows that as of October, filtering-up of demand from the mass-market to the high-end has not been derailed by the September cooling measures,' she added.
CB Richard Ellis executive director Li Hiaw Ho noted that interest in luxury projects continued in October despite the slowdown felt in the rest of the market. ' A unit at Boulevard Vue sold at $4,150 psf; a unit of Seven Palms fetched $3,429 psf in October after 6 units were sold in September at $3,091 to $3,353 psf. Over at Nassim Park Residences, 5 units were sold last month at a median price of $3,089 psf following the sales of 9 units in Q3 at $2,800 to $3,450 psf,' he added.
Jones Lang LaSalle's head of SE Asia research Chua Yang Liang said the impact of the September announcement was felt most in OCR and RCR as these markets were driven mostly by HDB upgraders who are more sentiment driven.
October's top-selling project was Far East Organization's Cyan at Bukit Timah (81 units transacted at a median price of $1,821). Other chart toppers in CCR last month included Trilight (58 units) and Lincoln Suites (53 units) - both in the Newton area.
In RCR, the top sellers included Suites @ Guillemard (66 units) and City Loft (40 units). Both projects featured shoebox units. In OCR, sales were contributed mainly by Hundred Trees in West Coast (52 units) and Mi Casa in Choa Chu Kang (43 units), noted Savills Singapore.
Newbie
She might be good at banking on health for wealth, but not as adept in finding authentic art pieces for investment. U guys can read all about her again in today's papers. Bought some art (allegedly thought to be authentic by her), but subsequently proven otherwise by Sotheby's only AFTER she's paid and taken possession of them... now the tycoons are fighting it out.
Home > Breaking News > Singapore > Story
Nov 17, 2009
CEO takes on tycoon
Medical group chief sues for $300,000 refund; millionaire counter-sues for $500,000 payment By K.C. Vijayan, Law Correspondent
The buyer, Dr Baumann (left), 40, is the CEO of Singapore Medical Group. The seller, business magnate Tong Djoe (next picture), 82, made his money in shipping, petroleum and trade. -- ST FILE PHOTOS
View more photos
TWO prominent business people will be battling in court over an art deal that turned sour.
#related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} The artists and their works
THE art pieces were by renowned Indonesian and China-based artists whose works fetch high prices at various auction houses like Christie's and Sotheby's. They include:
Affandi (1907-1990)
Dr Xiaoyan Baumann, 40, wants a refund of $300,000 for 17 paintings and a wood carving she and her husband had bought.
But the seller, Mr Tong Djoe, 82, is contesting the claim and counter- suing for $500,000 which he alleges was for another seven art pieces delivered to them but were not paid for.
China-born and German-educated Dr Baumann is chief executive officer of the Singapore Medical Group, which runs a cluster of specialist clinics.
Indonesia-born Mr Tong is a millionaire who made his money in shipping, petroleum and trade.
He operates out of an office in Anson Road. Among other artworks, he is said to own a Picasso.
F01 N54 Sheer Driving Pleasure
It seems like we have been cooling down for this cold-and-quiet X'mas, that I wished for, since 14 September.
I will go for my cruise, holidays, etc. after MBS preview.
Déjà vu!
But no! It was MBR - not MBS - back in 2006 X'mas. There was a difference.
Senior
why would we want to welcome defaulting chinese army?The Fernhill earlier this year, sentosa now and more to come for the 2007 peak buys as they go TOP in the next few years.
Foreign buyer's Sentosa Cove deal falls short
One of his two adjoining plots was resold at same price, other up for grabs
A FOREIGN investor who bought two adjoining bungalow plots on Sentosa Cove in 2008 did not complete the transactions, it has emerged.
Sentosa Cove has since re-sold one of the plots to a local buyer at the same price that the foreign investor had offered for it – $1,688 per square foot (psf) of land. But the other land parcel is still up for sale.
The plot that was re-sold has a land area of about 9,700 sq ft, which means that the total amount paid for the site is about $16.4 million.
The land parcel was first put on the market in March 2008, and sold at the end of that year through a private treaty. But after the foreign investor, who is understood to be a Chinese national, did not make payment according to schedule, the plot was put on the market again. It was sold to the local buyer about two months ago.
Sentosa Cove’s general manager Jason Yeo said that the fact that the plot was re-sold for the same price as in 2008 shows that the fundamentals of the residential enclave on Sentosa island are intact.
His firm, which handles State land sales at Sentosa Cove, received offers to buy the property at lower prices. But he held on to it until someone offered the right price.
However, the second plot, which is slightly bigger, has not yet received an offer deemed to be acceptable. The parcel, which is around 12,000 sq ft, was sold for about $1,650 psf to the foreign investor. The total quantum works out to around $19.8 million.
‘There has been interest from the market for the site, but they are not able to meet our reserve price,’ said Mr Yeo. Sentosa Cove is not aggressively marketing the site, he said.
The land parcel is the only one to remain unsold in the entire Sentosa Cove residential precinct, which will have 8,000 residents by the time all homes there are completed by 2014.
Mr Yeo said that all earlier land transactions – including condominium sites sold to developers as well as landed plots sold to individuals and investors – have been completed. Work on the island is progressing well and some 3,000 residents will be living on the island by the end of this year, he added.
Sentosa Cove has also found takers for some of the commercial space on the island. Two tenants – 7-Eleven, which will open a convenience store with a new-to-Singapore concept, and a launderette – have taken up about 30 per cent of the commercial space available at the arrival area of the Sentosa Cove residential enclave. The arrival plaza has a total lettable area of about 10,000 sq ft.
Source : Business Times – 16 Nov 2009
I have already prepared a poster to welcome these "买楼大军".
Dear Rich Comrades!
Come! Come! Buy Singapore properties!
Singapore properties are safer!
Junior
HAHA So funny ... I just anyhow cut and paste a pic of some Chinese female warriors. Cactus72 thought she was one of the three ...She isn't one of the 3 ...
Wow this is interesting ...
Dragon versus Garuda ...
Junior
Don't worry.why would we want to welcome defaulting chinese army?
Foreign buyer's Sentosa Cove deal falls short
For every one deal that defaults, a hundred other deals go through.
Even the defaulting ones have to forfeit their deposit, making Sentosa Cove even richer!
Newbie
Singapore's exports down 6.1% in October compared to a year ago
By Yasmine Yahya, Channel NewsAsia | Posted: 17 November 2009 1350 hrs
Photos 1 of 1 ">
A view of the container port in Singapore. (file pic)
SINGAPORE: Singapore's key exports contracted for the 18th month in a row, falling by 6.1 per cent in October from a year ago.
This was much weaker than market expectations of a 0.2 per cent climb, hurt by weak demand from the US and European Union.
With rising unemployment in the US, consumers there are holding back on spending.
Singapore's exports to the US fell by 10.9 per cent on year earlier.
Meanwhile, demand from Europe was also weak with shipments falling by 21.7 per cent.
All that helped to push the headline export numbers lower by 6.1 per cent on year.
When compared to the previous month, they fell by 13 per cent on a seasonally adjusted basis, reversing a three-month upward trend.
This is one of the sharpest drops in about seven years.
Alvin Liew, economist, Standard Chartered, said: "When we look at underlying reasons, it could be that the inventory restocking cycle is almost completed. That's probably one of the downsides for a sector like electronics. At the same time, Christmas orders were not as rosy a picture as some of us might be anticipating."
Irvin Seah, economist, DBS Group Research, said: "Another factor I want to highlight is the technical aspect. On a non-seasonally adjusted basis, the NODX only declined by 2.3 per cent month-on-month. But on seasonally adjusted basis it was down by 12.6%.
“Typically when you do seasonal adjustments, the month-on-month swing will be smoothed out. But in this case it was the opposite. I think to some extent it was aggravated by technical aspect, which is how the Department of Statistics does their seasonal adjustments."
Shipments of electronic products dropped 13.8 per cent on year, mainly due to lower exports of integrated circuits and disk drives.
Meanwhile, exports of non-electronic products declined by half a percent, led by lower exports of petrochemicals, civil engineering equipment parts and electrical power machinery.
Despite the weaker than expected numbers, some analysts remained positive.
Mr Seah added: “The data coming from some regional economies are pretty good in October, so in a way I don't think this October NODX number would in any way suggest that the recovery process has been derailed.
“Our view is that the recovery process has remained intact. It's just that this V shaped recovery in Asia is gradually giving way to a square root shaped recovery.
“In other words we are expecting a slightly more subdued pace of growth going forward. Still positive, but down to a single digit growth rather than double dig growth which we have seen in last two quarters.”
They said the headline exports numbers may turn positive in November, thanks to an improving global economy and a low comparison base.
But they note that for exports to be sustained, recovery in the employment situation in key markets is critical.
Mr Liew added: "For exports to be sustained, one of the more important factors would be to see a recovery of employment situation in key export markets like G3 economies. We need to see employment situation stabilising. We need to see net job creation to start taking place, also at the same time to see unemployment coming down."
Singapore's non-oil domestic exports is a closely watched barometer of the health of the trade-dependent economy.
Overall, the government is expecting GDP to contract by 2 to 2.5 per cent this year. - CNA/vm
Any comment from expert here?
1. Is this the turning point of Singapore property market?
2. How much will the price drop?
3.If I am playing to buy a property, should I buy now or wait and see until next year?
4.Will these "bad" news give us buyer as a bargaining power?
Thank you
F01 N54 Sheer Driving Pleasure
I am no expert but which area(s) are you looking at?
CCR, RCR or OCR?
There are different comments for different sub-regions.
Like what the news states "Economists overall were not too concerned with the worse-than-expected export performance as drug exports are notoriously volatile.", this is not a "bad" news.
I believe you should gather news on "GLS", "upcoming supply", "further government cooling measures", "interest rates", "GDP decline", "unemployment rate", etc.. These "bad news" will give you an edge in bargaining.
All experts please comment.
Newbie
Nice question.
Nobody is 100% sure here.
Newbie
Nice question.
Nobody is 100% sure here.
I'm new here. Just posted to find out more about property along Dunman Road. After reading this section, I am concern too about the outlook for the market. Can anyone advice me ..whether to hold or to purchase at this moment. I had seen a few unit around Dunman Road.... Fortune Jade is asking like S$1200/sqft, Dunman View is about $1000/sqft.... any input ?
Thanks in advance
Newbie
Hi Reporter,
Thank you for your comment. I am looking at Kovan Area. Seen units at Kovan Melody, Kovan Resident and a new project which is Stadia and Wembly(sorry if i spell wrongly) at Yio Chu Kang.
what do you think about the area that i mention ?
Cheers
Junior
Let me preach to you my religion called "Propertism". In "Propertism", you must have "faith".
Faith that in the long run, property prices always go up, simply because cash always devalues.
Once you become a devout "Propertist", you will not ask questions 1, 2, 3 and 4 above.
Let me show you something ...
Now imagine you have a time machine and are able to travel back to 1979 ... close your eyes ... imagine ... ting! ting! ting! ...
Next, imagine you are a prospective buyer viewing this Katong bungalow and the sellers' whole family is sitting in the courtyard ...
You: "How much are you asking for this bungalow?"
Man in Suit: "We are looking at $200,000"
You: "1. Is this the turning point of Singapore property market?"
Man in Suit: "The 1979 (or second) oil crisis in the United States occurred in the wake of the Iranian Revolution. Amid massive protests, the Shah of Iran, Mohammad Reza Pahlavi, fled his country in early 1979, allowing the Ayatollah Khomeini to gain control. While the new regime resumed oil exports, it was inconsistent and at a lower volume, forcing oil prices to go up and an economic crisis in the U.S."
You: "2. How much will the price drop?"
Man in Suit: "Maybe 10%? To $180,000? I also not sure"
You: "3. If I am playing to buy a property, should I buy now or wait and see until next year?"
Man in Suit: "Next year ah ... according to my fortune teller, in 1980, following the Iraqi invasion of Iran, oil production in Iran nearly stopped, and Iraq's oil production was severely cut as well."
You: "4. Will these "bad" news give us buyer as a bargaining power?"
Man in Suit: "I can give you a $5,000 discount ... how about $195,000 ?"
Suddenly, your agent, who has been keeping quiet all this while, spoke.
Agent: "Mr. icyhand ... take lah !!! Very good price! 9,800 sf Katong bungalow for only $195,000 ... that's less than $20 psf !!! Very good deal !!!"
So what is your decision? $195,000? Take? Leave?
Last edited by jlrx; 17-11-09 at 21:45.
F01 N54 Sheer Driving Pleasure
You are referring to OCR D19.
There will be a GLS at Hougang Avenue 7 coming up in March 2010.
Here are my opinions:If your "turning point" is trend reversal, then I don't think so. If it is "correction", then I think perhaps there may be a 0-10% correction through some subsales in some OCR areas. Unfortunately, I think the area you mentioned may not see this correction.All the best!
I think the abovementioned GLS will have little impact (positive or negative) on the surrounding properties.
I think for this area, the best time to buy is between December and CNY, when the market is quiet. I also think that resale can give you values while subsale allows you to catch the correction if you have the "connections". (Connection is needed as there will be very few "good" subsale deals.)
Newbie
Hi Reporter,
What is GLS?
Jlrx: I see your point bro.... thank you ...... anyway i am planning only to take 60% loan of my purchase price ........
F01 N54 Sheer Driving Pleasure
GLS: government land saleHi Reporter,
What is GLS?
Jlrx: I see your point bro.... thank you ...... anyway i am planning only to take 60% loan of my purchase price ........
Low leverage of 60% (i.e. 70% or below) is good.
F01 N54 Sheer Driving Pleasure
Property Developers: From Mass Market To High End
Adrian Chua
Equity, DBS Group Research
Tuesday, 17 November 2009
• High end residential market poised to take off in 2010.
• The launch of integrated resorts a key driver, while the gap between Spore and Hong Kong high-end has widened.
• Buy stocks with highest exposure to high end segment property developers: SC Global (TP S$1.69), Ho Bee (TP S$1.64), and Wheelock upgraded to BUY (TP$1.98).
Value Emerging for selected High-End Players. We upgraded our calls on SC Global, Ho Bee and Wheelock, developers in the high-end segment of the market. We see value emerging for these companies, following price consolidation in recent months, and this is also backed by our expectation of a pick-up in activity within the high-end segment come 2010.
Why High End? Our positive view on the high-end segment is driven by:
(i) visibility of a higher number of transactions in 3Q09 of >S$2,000 psf;
(ii) government policies tend to focus on the mass-market and not on the high-end, thereby curbing policy risk for the latter;
(iii) the opening of the Integrated Resorts in early 2010 is expected to be positive for the high-end as this segment attracts the most investment demand, both from foreigners and locals;
(iv) Singapore high-end now looking relatively cheaper to Hong Kong high-end, a similar valuation gap scenario that we saw prior to the 2007 high-end run here, with Singapore high-end being a potential beneficiary to Chinese demand (which did not factor in a big way in 2007 but could be a force to reckon with in 2010); and
(v) segment is less sensitive to an expected increase in interest rates (though historically, interest rate has never borne a strong correlation to demand).
BUY SC Global, Ho Bee and Wheelock. SC Global (TP S$1.69) and Ho Bee (TP S$1.64) are well-positioned to benefit from an upturn in the high-end market, particularly as both companies have exposure to Sentosa, where Resorts World Singapore is expected to open in a couple of months. We have upgraded Wheelock (40% exposure to high-end) to buy from Hold, TP raised to $1.98 based on $3,650psf for Wheelock Place, 20% discount to RNAV of S$2.48.
Junior
The "upside risk" at the high end residential market is now much greater than the "downside risk".
Property Developers: From Mass Market To High End
Adrian Chua
Equity, DBS Group Research
Tuesday, 17 November 2009
• High end residential market poised to take off in 2010.
with Singapore high-end being a potential beneficiary to Chinese demand (which did not factor in a big way in 2007 but could be a force to reckon with in 2010
There is practically no "downside risk" because that had already been priced in, as high end properties are still around 25% below their peak.
Nowadays people are numbed to all these "Lehman"-type news. So what if tomorrow they come up with another piece of news like "Goldman Sach" has gone bankrupt? Who cares?
The "upside risk", on the other hand, is very very high.
Just look at what the Indonesian Chinese had done over the past 40 years.
What prompted the Indonesian Chinese to buy Singapore properties (and some even leaving it empty) over the past 40 years?
The same reason can prompt China Chinese to pour their money into Singapore.
Dear Rich Comrades!
Come! Come! Buy Singapore Properties!
Singapore properties are the safest!
Junior
Can we ting ting another 17 years back from 1979? Pool our money to start out a small company and name it Far East Organization?
About Far East Organization
Founded in the 1960s, Far East Organization is Singapore's largest private property developer today. Its operations span the full spectrum of the real estate market, from the residential and retail, to the hospitality, office and industrial sectors. FEO is a four-time winner of the FIABCI Prix d'Excellence, a world first in the history of the highly regarded international real estate awards. Its projects that have earned the awards’ top honours are: The Fullerton (Leisure Category, 2003), Gardenville (Residential Category, 2002), Far East Square (Specialised Category, 2001) and The Bayshore (Residential Category, 1999).
Mr Ng Ting Fong owns The Fullerton Singapore in Singapore. Organization also owns one of the country's most popular beverage brands, Yeo Hiap Seng.
Ng's family net worth was US$6.7 billion in 2007, and of 2009, he is the richest person in Singapore.
Fortune:self made
Source:real estate
Age:81
Country Of Citizenship:Singapore
Residence:Singapore
Industry:Real Estate
Education:NA, Who knows? Maybe PSLE or less
Marital Status:married, 6 children
Singapore's 40 Richest
Singapore's 40 Richest: Introduction
Suzanne Nam, 09.03.09, 05:00 PM EDT
Forbes Asia Magazine dated September 21, 2009
The net worth of the Top 40 is up as Singapore rebounds from its worst recession ever.
Singapore is emerging from its deepest recession since the island became an independent nation in 1965. Though the economy may shrink up to 6% this year, there are signs that the worst is over. GDP expanded in the second quarter for the first time in a year. Exports and manufacturing were up in July, and property prices and sales are picking up. The country's main index jumped almost 90% since its March low. The nation's richest are gaining, too. The total net worth of Singapore's top 40 is $39 billion, up from last year's $32 billion. Ng Teng Fong is No. 1 again, worth $8 billion, $1 billion more than last year. .
Junior
Fast forward from 1979 by 13 years to 1992.
Singapore's 40 Richest
Geylang King
Jessica Tan, 09.03.09, 05:00 PM EDT
Forbes Asia Magazine dated September 21, 2009
Koh Wee Meng has won big in the real estate by thinking small.
Twenty minutes from Singapore's business district is bustling Geylang, home to its red-light district, foreign workers' quarters and some of the city's best cheap eateries. It is in this somewhat seedy neighborhood largely ignored by big developers that Koh Wee Meng has built at least ten residential projects and six budget hotels in the past 16 years. Some deride the latter as "love hotels," but Koh, 46, shrugs it off. "You can't change the place."
Koh insists it is not the neighborhood but his decision to stick with small, affordable plots that distinguishes him from other developers. "I do a lot of small projects. I churn a lot of small plots of land. Here one plot, there one plot," explains Koh, speaking in a mix of English, Mandarin and Hokkien, a Chinese dialect.
That small focus has paid off big. Koh, 46, is worth $360 million, enough to rank him No. 20 among Singapore's richest. Net profits of his Fragrance Group climbed 83% to $39 million on sales of $150 million in 2008. Earnings slipped 9% in the first half of the year because of lower selling prices but are up 11% in the second quarter. (Private residential prices in Singapore dropped 21% in the first quarter and 25% in the second.) The stock has tripled since its March low.
It's not the glamorous end of real estate, but it is a "sweet spot," says Ng Wee Siang, head of research at BNP Paribas in Singapore. Fragrance's residential property business, which accounts for at least 80% of profits, specializes in low- to medium-rise buildings, usually with fewer than 100 units. The residences are typically pitched to some of the 2.8 million of Singapore's 3.5 million residents who live in Housing Development Board, or HDB, flats, and are looking to upgrade. The 20 budget hotels have a similar strategy of being small and affordable, typically with 100 rooms or fewer costing $60 a night. Despite the downturn, the hotels expect a boost from an influx of tourists coming to gamble at Singapore's first two megacasino resorts opening next year.
The son of a jeweler and a primary school teacher, Koh developed his passion for real estate during long walks back and forth to school past construction sites. Unlike his three siblings, Koh didn't make it to college and, after completing his national service, joined his father's struggling jewelry shop, Lee Hwa Goldsmiths & Jewelry. He soon mastered the craft of making and selling gold jewelry like bangles and pendants but was bored.
Koh gave real estate a try in 1992. He found a 5,000- square-foot plot of land for $490,000. He went to a bank for a loan but was told he didn't have the experience or education to be successful. He was eventually given a loan of $310,000 and paid for the rest with proceeds from selling his home the previous year when he moved in with his parents. He built a bungalow on the land and flipped it for $1.2 million within a year.
Newbie
I have a question. The drop in mass market condo launches and sales in Oct is because developers simply have no more to launch?
Junior
Year end are more quiet in general. Most people had gone holidays. Developers still have things to sell but no mass market for next few months.
F01 N54 Sheer Driving Pleasure
What is this showing? Our gahmen buying up realty assets, and telling us not to?
Singapore GIC buys 3M Hyatt Hotels shares
Saeed Azhar
Reuters
Singapore
Friday, 13 November 2009, 2.17 pm CCT
The Government of Singapore Investment Corp said it has bought 3 million 'Class A' shares of Hyatt Hotels Corp, which raised $950 million this month in an initial public offering.
..........
..........
It has also invested in Chinese property developer Longfor Properties' $912 million IPO, which priced on Thursday.
He is different. We can't compare him with ...Recovery to continue: Singapore GIC
Reuters
Singapore
Saturday, 14 November 2009, 4.10 pm
Dr Tony Tan, GIC Deputy Chariman and Executive Director -- Photo: Reuters
Sovereign wealth fund the Government of Singapore Investment Corp expects the global economic recovery to extend into 2010 with stronger growth in Asian and Latin American countries that have lower debt levels, Deputy Chairman Tony Tan said on Saturday.
GIC, estimated to be the world's fourth largest wealth fund with assets in excess of $200 billion, has been putting more money in alternative investments such as real estate.
November 11, 2009 Wednesday
Dr Tony Tan, Singapore Press Holdings Chairman
SPH-led venture puts in top bid for Clementi mall
By Joyce Teo
A JOINT venture between Singapore Press Holdings, NTUC Income and NTUC FairPrice has topped the tender for a mall at Clementi Town Centre with a bid of $541.9 million.
This is nearly 42% above the se-cond-highest bid of $382 million from a venture between Keppel Land's Alpha Investment Partners and Guthrie.
That would put the top bid at around $3,000 psf of retail net floor area.
Consultants said this could be a record level as the price of suburban malls has generally not crossed $2,500 psf.
Can somebody tell me who is this guy above who dares to disobey our Government's advice not to invest in the property market because we are creating an asset bubble?
He seems to be as disobedient, if not more so, than the following people ...
If he don't buy with our money, our money will become toilet paper soon.
So ... he just can't stop buying ...
It doesn't matter what he comes across - hotel property (e.g. Hyatt), residential property (e.g. China's Longfor Properties), commerical properties (e.g. Clementi Mall), etc.. They are all a "buy buy buy" for him.
GIC buys 4.4 million US shares of China's Shanda Games
Saeed Azhar
Reuters
Singapore
Wednesday, 18 November 2009, 10.50am CCT
The Government of Singapore Investment Corp has bought 4.4 million U.S. shares of China videogames company Shanda Games, GIC said.
The investment represents 5.4% of Shanda Games' American Depositary Shares, according to a GIC filing with the U.S. Securities and Exchange Commission.
F01 N54 Sheer Driving Pleasure
Jet Li opens up about migrating to Singapore
Channel NewsAsia
Singapore
Wednesday, 18 November 2009, 1353 hrs CCT
Jet Li
While it is no secret that Jet Li has become a Singapore citizen, the kung fu star has always remained tight-lipped about the matter, until recently.
The actor, who participated in last week’s Asia Pacific Economic Cooperation (APEC) Voices of the Future dialogue, spoke openly about the reasons for his migration in an interview with the Taiwanese media.
“Singapore is much cleaner and safer as compared to many other cities. However, the weather here is also much hotter. I was also attracted to the country’s bilingual education policy, diverse culture and the Western-style corporate culture,” said Li.
News of the Beijing-born star taking up a new nationality emerged in June this year and Li, 46, was also reported to have purchased a S$20 million luxury property at Bukit Timah Road. He follows the footsteps of Chinese actress Gong Li who migrated to Singapore in 2007.
Li, who made his mark as an action star in both Asia and Hollywood, has been out of action for more than one and the half years.
During this time, he has been actively promoting his charity foundation, One Foundation, which he set up in China in 2007. A branch was established in Singapore last year.
Li, who was last seen in 2008’s “The Mummy: Tomb of the Dragon Emperor”, has confessed that he has been ‘living off’ his wife, former actress Nina Li Chi.
“I will not divulge how much money I have spent or how much money my wife gave me to start One Foundation because there is no need to flaunt it as I am a willing contributor.
“You can imagine for the past one and the half years, I did not take up any movie offers, and have been travelling around the world 50 times, my wife had to pay for all the travelling expenses as all my income goes to the household,” Li told the reporter, adding that he has no plans to return to acting any time soon.
During the dialogue session, while Li was encouraging the younger generation to create their own dreams, the Asian superstar ironically admitted that he does not have any dreams left to fulfill.
“I do not have any more dreams because I have already found my answer to the various issues in life such as time, space, universe, material comforts, the environment and life. Since I understand their existence and disappearance, I realise that there isn’t anything else left to do and there isn’t a need for me to have dreams,” said the actor.
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Hey! Where are you hidding, Sir?Err ... you mean General J. Li is the commander of China's Property Liberation Army?The GENERAL has arrived ...
The PLA invade to liberate our property market?
Hopefully he leads(liberates) by example.
General J. Li, who migrated to the U.S. 20 years ago, has just spoken but you went missing.
Junior
Wow.. he sounds like he have found nirvana.
I think he should continue to star in movies even if it's like jackie chan of 1 movie per year..
He got the ability to earn money but he doesn't want to..sigh.. how I wish I can be paid $10mil a year just to work.. Work half a year.. rest half a year.. very good lifestyle mah..
Global recession is coming....
Ai yoh, with his wealth, even if doesn't work his investment already nets him $10m a year for about every year?
Wow.. he sounds like he have found nirvana.
I think he should continue to star in movies even if it's like jackie chan of 1 movie per year..
He got the ability to earn money but he doesn't want to..sigh.. how I wish I can be paid $10mil a year just to work.. Work half a year.. rest half a year.. very good lifestyle mah..
Junior
True.. maybe have to get to his level before I understand why he did it.Ai yoh, with his wealth, even if doesn't work his investment already nets him $10m a year for about every year?
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