SINGAPORE – So ended another turbulent week in which Wall Street called the shots, dogged by continuing sub-prime, slowdown and inflation worries. The two US interest rate cuts of the past seven weeks are now a distant memory, replaced by a nagging unease that lower rates may not necessarily provide the desired relief. As a […]
Archive | November 15, 2007
PROPERTY – Consider shop units for rental yields
Prime units offer yields of 3.5%-5% but they don’t come cheap, especially in Raffles Place, Orchard Road SHOPPING, already a national pastime, is becoming even more popular, if rising retail rents and capital values are anything to go by. Not only are the rents and values in the traditional shopping belt of Orchard Road on […]
two cents’ worth – Smart investors scout for the best place to park their money
SPORTS teams consider intelligent scouting vital to their long-term success. The same applies to financial investments. Before deciding where to park their money, investors should scout around for the best bargain; that is, they need to gather and sift through information about the money managers they are considering and the strategies these managers employ. Depending […]
wallstreet – Stocks tumble as banks warn of debt write-offs
NEW YORK – WALL Street finished a turbulent week with another huge drop on Friday after major banks warned of further losses on their debt portfolios. That raised investor concerns that the credit market slump showed no sign of abating. Record-high crude oil prices and a sagging dollar further undermined sentiment. The Dow Jones Industrial […]
Gardens to do a Garden City proud
Marina South phase to cost $900m, entire project could draw 2.7m visitors a year (SINGAPORE) The Gardens by the Bay project – comprising three themed gardens at Marina South, Marina East and Marina Centre – is expected to draw 2.7 million visitors a year and contribute around $1 billion of tourism receipts over 10 years. […]
HORIZON TOWERS HEARING – HPL director’s words were in contempt of court: owners’ lawyers
Christopher Lim’s comment could imply buyers going ahead with $1b suit (SINGAPORE) Lawyers for both the majority and minority owners of Horizon Towers have objected to recent comments made by Hotel Properties (HPL) group executive director Christopher Lim, and have accused him of being in contempt of court. On Thursday, BT reported Mr Lim as […]
Successful application for Alexandra Rd condo site
Developer agrees to bid not less than $220.7m for the 99-yr leasehold plot DEVELOPERS continue to trigger the release of sites from the Government Land Sales programme’s reserve list. The Urban Redevelopment Authority (URA) yesterday announced a successful application for a 99-year leasehold condo site on Alexandra Road near Redhill MRT Station and next to […]
Successful application for Alexandra Rd condo site
Developer agrees to bid not less than $220.7m for the 99-yr leasehold plot DEVELOPERS continue to trigger the release of sites from the Government Land Sales programme’s reserve list. The Urban Redevelopment Authority (URA) yesterday announced a successful application for a 99-year leasehold condo site on Alexandra Road near Redhill MRT Station and next to […]
HK property sector set to grow up to 30% in next 12 months
Flow of cash into city and cheaper financing options fuelling growth IN HONG KONG HONG Kong’s property market is tipped to see growth of up to 30 per cent over the next 12 months amid a flow of hot money into the city and a favourable interest rate environment. This week saw HSBC cut its […]
Painful lessons from Asian crisis
MOKHZANI Mahathir surprised everyone when in April 2001 he declared that he was giving up his business interests in a bid to protect the family name in response to people who had accused his father’s administration of nepotism. Mr Mokhzani’s father is Malaysia’s fourth prime minister Mahathir Mohamad, now 82, who stepped down on Oct […]
Sub-prime crisis: New push to review rating firms’ role
IN TOKYO US Securities and Exchange Commission (SEC) chairman Christopher Cox promised yesterday that regulators would ‘aggressively’ pursue the new mandate they have been given to review the role that rating agencies played in the sub-prime mortgage loan crisis. He was speaking at a briefing in Tokyo as new evidence emerged that the fallout from […]
A troubled and turbulent week driven by Wall Street
SENIOR CORRESPONDENT SO ENDED another turbulent week in which Wall Street called the shots, dogged by continuing subprime, slowdown and inflation worries. The two US interest rate cuts of the past seven weeks are now a distant memory, replaced by a nagging unease that lower rates may not necessarily provide the desired relief. As a […]
Alexandra housing plot up for tender soon
A DEVELOPER has agreed to pay at least $220.7 million for a residential site on Alexandra Road, in what is seen by some observers as a bullish move in light of recent property market caution. This has triggered a tender for the 0.86ha plot, on which 360 to 400 homes can be built. It is […]
Estate agents’ group objects to new regulatory scheme
CONSUMERS looking forward to greater regulation in the real estate industry might have to wait a bit longer, as the process has just hit a snag. A group of property agencies is questioning a move by the Institute of Estate Agents (IEA) to launch a ‘practising certificate’ for its members, as there is already an […]
HPL remark on Horizon Towers decision ‘not fair’
A LAWYER for a group of minority owners opposed to the collective sale of Horizon Towers yesterday said that comments made by developer Hotel Properties (HPL) on the proceedings were not fair. HPL had commented on the possibility of the tribunal decision coming too late. The consenting and minority owners of Horizon Towers are now battling […]
Financial crises: True picture still to emerge
GLOBAL stock prices tumbled this week in North America and Europe as losses mounted at US banks. Meanwhile, oil and gold prices rose, indicating the jittery mood of international investors. Of course, dips are not unusual: stock markets have suffered bigger single falls in the past. And yet, there is something highly unusual and potentially […]
China’s trade surplus may top $43b in October
Figures due soon seen adding fuel to US complaints that yuan is still undervalued BEIJING – CHINA’S monthly trade surplus probably topped US$30 billion (S$43.3 billion) for the first time, adding fuel to United States complaints that the yuan is undervalued. The gap widened 29 per cent last month from a year earlier to US$30.8 […]
US stocks fall on fresh credit worries
NEW YORK – UNITED States stocks dropped to the lowest in two months early yesterday, as financial institutions such as Wachovia, Fannie Mae and State Street reignited concern about the plummeting value of mortgage bonds. Wachovia, the fourth-largest US bank, tumbled to the lowest since 2003 after some of its debt securities lost US$1.1 billion […]
US$ slips to record low against euro
Greenback also hit by fears of more loss disclosures by financial sector firms LONDON – THE greenback hit a record low against the euro yesterday as fears grew that more United States financial firms will be hit by credit market turmoil, reinforcing expectations of further Federal Reserve interest rate cuts. Such worries came to the […]
