3:30
Old Primetime Morning Singapore Business News (2006)
Old Primetime Morning Singapore Business News (2006)
Primetime Morning Old Ident 2006 February Business News
2:21
Sky Habitat goes on sale on April 14 - 05Apr2012
Sky Habitat goes on sale on April 14 - 05Apr2012
SINGAPORE: When CapitaLand's designer condominium project, Sky Habitat, goes on sale on April 14, it may set a new record for the prices of residential units located in suburban areas. Ahead of the condominium's launch, some market watchers estimated that a unit at Sky Habitat could sell for between S$1700 and S$1800 per square foot. CapitaLand was tight-lipped about prices of the units and it says they will be available closer to the launch date. The 509-unit Sky Habitat is designed by renowned architect Moshe Safdie - a premium that is likely to be reflected in its pricing. CapitaLand paid S$550 million for the condominium's site at Bishan Street 15 through a government land sales tender in February 2011, which some property analysts say was a hefty sum for the time. The developer believes the strong sales momentum seen in the first quarter will continue. "We always believed that the residential market is a function of many factors, the key one being global sentiment," CEO of CapitaLand Residential Singapore Wong Heang Fine said. "Interest rates are still very low, the job market is still very good, so naturally there would be a response from buyers," he added. Subject: Condominium could set new record for suburban home prices www.channelnewsasia.com/stories/singaporebusinessnews/view/1193341/1/.html
1:49
Earth Hour HQ to relocate to Singapore - 20Feb2012
Earth Hour HQ to relocate to Singapore - 20Feb2012
SINGAPORE: Climate change movement Earth Hour is moving its global headquarters from Sydney, Australia to Singapore. It is expected to move to Singapore in May. Earth Hour started as a one-city campaign in Sydney in 2007. By 2011, the movement has spread to 5251 cities and towns, reaching some 1.8 billion people in 135 countries. The global movement encourages individuals, businesses and communities to switch off lights for one hour on the last Saturday of March every year. Earth Hour executive director and co-founder Andy Ridley said Singapore offers the level of connectivity and opportunity the campaign needs to move forward. He said: "Great for business, great for communications, brilliant for digital. And it's got great people who can work for us. "To move to Singapore in a geographical sense makes total sense - Earth Hour is growing really big in India and in China and in Indonesia, as well as Latin America and the (United) States. So many reasons to move here. "Sydney is the most beautiful city and we'll be sad to move from there but it's a long way away from the rest of the world." Earth Hour's Singapore headquarters is expected to lead the campaign's outreach to businesses. It will join some 135 international non-profit organisations currently using Singapore as a global base. A key objective of Earth Hour is to get people to go "beyond the hour" in their commitment to environmental protection. This year's Earth Hour takes place on 31 March, at 8.30pm. The <b>...</b>
2:21
Sky Habitat goes on sale on April 14 April 2012 - Call Melvin Lim - +65 9666 7978
Sky Habitat goes on sale on April 14 April 2012 - Call Melvin Lim - +65 9666 7978
Bishan New Condo -- Near to Bishan MRT Register Now for VVIP Preview!! Call Developer Sales Team Melvin Lim - +65 9666 7978 The 509-unit project will consist of two 38-storey towers linked by bridging sky gardens - vastly different from the more traditional approach of individual towers for suburban condo projects. The site was acquired by CapitaLand for $550 million earlier this year. SINGAPORE: When CapitaLand's designer condominium project, Sky Habitat, goes on sale on April 14, it may set a new record for the prices of residential units located in suburban areas. Ahead of the condominium's launch, some market watchers estimated that a unit at Sky Habitat could sell for between S$1700 and S$1800 per square foot. CapitaLand was tight-lipped about prices of the units and it says they will be available closer to the launch date. The 509-unit Sky Habitat is designed by renowned architect Moshe Safdie - a premium that is likely to be reflected in its pricing. CapitaLand paid S$550 million for the condominium's site at Bishan Street 15 through a government land sales tender in February 2011, which some property analysts say was a hefty sum for the time. The developer believes the strong sales momentum seen in the first quarter will continue. "We always believed that the residential market is a function of many factors, the key one being global sentiment," CEO of CapitaLand Residential Singapore Wong Heang Fine said. "Interest rates are still very low, the job market is still <b>...</b>
2:05
Singapore's inflation rises to 5.2% in March - 23Apr2012
Singapore's inflation rises to 5.2% in March - 23Apr2012
SINGAPORE: Singapore's inflation rate rose to 5.2 per cent on-year in March 2012, from 4.6 per cent the previous month. This was attributed to a sharper increase in COE premiums which led to higher car prices. According to the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI), "private road transport cost added 1.3 percentage points to CPI-All Items inflation in March, slightly more than twice its contribution in February". Meanwhile, prices of retail items, such as clothing and footwear, rose more moderately compared to the previous month. Clothing and footwear prices rose 1.2 per cent year-on-year in March compared to 1.6 per cent year-on-year the previous month. Services and food inflation were broadly stable, at 3.0 per cent and 2.7 per cent respectively. The MAS' measure of core inflation, which excludes accommodation and private road transport, eased to 2.9 per cent in March compared to a year earlier, from 3.0 per cent in February. In a statement, the MAS said inflation will likely remain elevated over the next few months, before easing gradually in the second half of this year. It reiterated that the CPI-All items inflations is expected to average around 5 per cent year-on-year in the first half of this year, while core inflation is forecast to hover around 3 per cent. Accommodation cost will contribute more than a third to CPI-All Items inflation this year as "leasing contracts continue to be renewed at rentals that are <b>...</b>
2:21
Singapore to build US$300mil 5th industrial park in Vietnam - 23Apr2012
Singapore to build US$300mil 5th industrial park in Vietnam - 23Apr2012
HANOI: Singapore has been given the green light to build a fifth industrial park in Vietnam, worth over US$330 million. The 600-hectare project in Quang Ngai province will be developed along with a 520-hectare commercial and residential site. It comes as both countries mark closer cooperation, with President Tony Tan Keng Yam's inaugural state visit. Dr Tan witnessed a ceremony where Singapore was awarded certification to build the new industrial park in central Vietnam. Singapore conglomerate Sembcorp will develop, market and manage the project. It said that about 30 to 40 parties have already indicated interest in the park. Phase one of the park should take shape within three years, when the first factories, and perhaps profits, will spring up. Speaking at a state banquet, Dr Tan said the joint industrial undertakings symbolised a partnership based on trust, and testified to Singapore's confidence in Vietnam's future. "As we celebrate the upcoming 40th anniversary of our bilateral relations next year, I am confident that our ties will continue to grow from strength to strength," Dr Tan said. "Let us continue with our strong partnership to advance our common regional interests for the betterment of our peoples and the region." As Vietnam develops, the project is expected to feed rising demand in domestic consumption and create more jobs for the local workforce. "Central Vietnam, if you look at it, it is a very nice corridor to other nearby countries, for example Laos <b>...</b>
0:34
SIA says wing cracks found in six Airbus A380 planes - 31Jan2012
SIA says wing cracks found in six Airbus A380 planes - 31Jan2012
SINGAPORE : Following the inspections on six of its Airbus A380 aircraft, as mandated by the European Aviation Safety Agency, Singapore Airlines (SIA) confirmed that cracks in the wing brackets have been discovered in all six of the inspected airplanes. In a statement to Channel NewsAsia on Tuesday, SIA said that "checks have been carried out on six aircrafts and there were findings during each inspection". SIA started inspections on 20 January 2012 following the discovery of cracks in the structural components in some A380 aircraft. While the six A380 planes are sent out for repairs, scheduled flights usually operated by the affected A380 planes are temporarily operated by Boeing 777-300ER jets. Four of these planes have been repaired and have since been returned to operation, and repairs for the remaining two planes are expected to be completed "in the coming days". The costs of inspections and repairs are wholly covered by Airbus, a SIA spokesperson said. www.channelnewsasia.com/stories/singaporebusinessnews/view/1180147/1/.html
0:39
Scoot to launch Tianjin-Singapore flights in August - 27May2012
Scoot to launch Tianjin-Singapore flights in August - 27May2012
BEIJING : Singapore Airlines' wholly-owned budget carrier Scoot will make its first foray into China, with flights between Singapore and Tianjin taking off in August. The medium- to long-haul budget carrier said there are two more Chinese destinations in the pipeline. Capital Beijing will not be on the cards. Scoot will be flying between Tianjin and Singapore, four times a week, starting from August. The budget long-haul carrier said it will be landing in two more secondary Chinese cities, before the end of 2012. It is all part of Scoot's long-term strategy to connect passengers from developing cities in China to Singapore, and other international destinations. Campbell Wilson, CEO of Scoot, said: "Clearly there are one-stop options people are getting to when they need to travel. So by offering a non-stop option, we feel that we will be able to attract a substantial amount of demand. "Singapore has such a huge air network so there is a lot of natural connectivity that people will fly up on us and connect on one of the other mini airlines to destinations that we do not offer ourselves." The airline declined to comment on its expected passenger volume and targeted market share in China. But Tianjin International Airport said two-thirds of its daily passenger volume comes from connecting flights, and AirAsia is the only other international budget carrier operating there. No exact date was given, but Scoot said ticket sales to Tianjin are expected to start in a few weeks. The <b>...</b>
3:01
S'pore economy grows faster than expected - 13Apr2012
S'pore economy grows faster than expected - 13Apr2012
SINGAPORE: Singapore's economy rebounded strongly in the first quarter of 2012, according to initial estimates from the Trade and Industry Ministry released on Friday. The GDP grew by 9.9 per cent on-quarter in Q1, reversing a decline of 2.5 per cent seen in the previous quarter. On a year-on-year basis, the economy expanded by 1.6 per cent, down from 3.6 per cent previously. Stronger performance in the manufacturing sector has played a key role in what some economists call a "re-acceleration" of Singapore's economy. The sector grew by 14.7 per cent on-quarter, driven by higher output in the electronics and precision engineering sectors. Irvin Seah, economist, DBS Bank, said: "All leading external indicators for the electronics industry are pointing to a stronger growth momentum going forward in this segment. PMI numbers for all key markets are now above the crucial 50 level, implying that the manufacturing sectors for some of our key markets are in strong expansion mode." The construction sector also grew an impressive 24.6 per cent on-quarter in Q1. This is largely due to a pick up in residential construction activities and public transportation projects. Looking ahead to the second quarter, some economists said the stable growth in the services sector - led by the financial services and tourism industries - should help to offset any potential moderation in the manufacturing and pharmaceutical sectors. The growth in visitor arrivals continued to boost the services <b>...</b>
3:07
Large crowds turn up at Tampines EC, Tampines Trilliant, launch - 27Jan2012
Large crowds turn up at Tampines EC, Tampines Trilliant, launch - 27Jan2012
2:16 ==► Tampines Trilliant launch SINGAPORE: Large crowds turned up at the launch of the latest executive condominium (EC) on Friday. Property developer Sim Lian Group said it hopes Tampines Trilliant, which is located in a mature estate, will attract couples who want to live near their parents. But with prices as high as S$971000 for a four-room unit, will home-buyers be turned away? The launch of Tampines Trilliant saw a large lunch-time crowd - most of whom were upgraders. The 12-block executive condominium has 670 units for sale, comprising mostly three-bedroom units. Prices start from S$682000 for a three-room unit and a whopping S$971000 for a four-bedroom unit. Home buyers were mixed in their responses over the prices. One said it was "a bit expensive", while another said: "For new launches, I believe the price is quite expected." The property is located in the heart of Tampines, in the eastern part of Singapore, with amenities like malls, bus and train stations and even offices, nearby. Orange Tee managing director Steven Tan said: "We expect the demand for the Tampines Trilliant to be very strong. The existing regional centre and MRT station are already strong pulling factors." One real estate company said prices of executive condominiums are usually about 20 per cent below those of mass market condominiums in the vicinity. ECs were introduced to cater to Singaporeans, especially young graduates and professionals, who can afford more than an HDB flat but find <b>...</b>
0:37
Resorts World Sentosa open last 2 of 6 hotels - 13Feb2012
Resorts World Sentosa open last 2 of 6 hotels - 13Feb2012
SINGAPORE: Resorts World Sentosa (RWS) will open the last two of its six hotels on Thursday, 16 February. The new hotels - Equarius Hotel and Beach Villas - are aimed at high-end guests. Room rates for Equarius begin at S$800, while those of Beach Villas start from S$1200. The resort will open fully by the end of the year with three more attractions - Marine Life Park, a water theme park and a destination spa. Senior vice president of hospitality development and projects at Resorts World Sentosa, Roger Lienhard, said RWS hopes to focus on fine-tuning its services and amenities in the next stage of development. He said occupancy rates for its four hotels are between 85 per cent and 90 per cent. He expects the new hotels to hit this figure by the end of March. Mr Lienhard said: "By end of this year, we will be totally completed and then it is really to look at the service element and how much more we can train our staff to be very passionate about the job and bring more smiles to the resort so that we can improve the service quality even more." www.channelnewsasia.com/stories/singaporebusinessnews/view/1182665/1/.html
2:20
HDB resale prices expected to drop 3-5% this year - 08Feb2012
HDB resale prices expected to drop 3-5% this year - 08Feb2012
SINGAPORE: Resale prices of public housing in Singapore have risen rapidly in recent years but market players said those days are over. Speaking at an industry forum on Wednesday, they said resale prices of HDB flats will drop by three to five per cent this year. But the drop may be more severe, if the external environment takes a turn for the worse. Executive condominiums such as the Trilliant in Tampines have stirred interest among home buyers. The promise of more such units in the market as well as some 25000 new flats to be offered under the government's Build-To-Order (BTO) scheme this year is expected to ease the demand for resale flats. ECG Property's managing director Shawn Tan said: "We should be seeing a more sit-back-and-wait attitude from citizens. They will be expecting more flats to be built and they have more options to go for the BTOs and walk-in selections directly from HDB." At Wednesday's industry forum, CEOs of several property agencies said demand is also likely to soften with tighter immigration rules, which will reduce the pool of potential home buyers. They expect resale flat prices to fall by three to five per cent this year, and up to 10 per cent if the eurozone debt crisis triggers a global recession. HSR Property Group CEO Patrick Liew said: "Unless the economic situation changes, unless we see a lot more foreign direct investment coming in...I think the HDB market will remain flat for the next one to three years." PropNex CEO Mohamed Ismail <b>...</b>
2:21
Sky Habitat goes on sale on April 14 April 2012 - Call Jolene Ho - +65 9139 3066
Sky Habitat goes on sale on April 14 April 2012 - Call Jolene Ho - +65 9139 3066
Bishan New Condo -- Near to Bishan MRT Register Now for VVIP Preview!! Call Developer Sales Team Jolene Ho - +65 9139 3066 The 509-unit project will consist of two 38-storey towers linked by bridging sky gardens - vastly different from the more traditional approach of individual towers for suburban condo projects. The site was acquired by CapitaLand for $550 million earlier this year. SINGAPORE: When CapitaLand's designer condominium project, Sky Habitat, goes on sale on April 14, it may set a new record for the prices of residential units located in suburban areas. Ahead of the condominium's launch, some market watchers estimated that a unit at Sky Habitat could sell for between S$1700 and S$1800 per square foot. CapitaLand was tight-lipped about prices of the units and it says they will be available closer to the launch date. The 509-unit Sky Habitat is designed by renowned architect Moshe Safdie - a premium that is likely to be reflected in its pricing. CapitaLand paid S$550 million for the condominium's site at Bishan Street 15 through a government land sales tender in February 2011, which some property analysts say was a hefty sum for the time. The developer believes the strong sales momentum seen in the first quarter will continue. "We always believed that the residential market is a function of many factors, the key one being global sentiment," CEO of CapitaLand Residential Singapore Wong Heang Fine said. "Interest rates are still very low, the job market is still <b>...</b>
2:29
Rolls Royce open Its largest facility hub in Asia - 13Feb2012
Rolls Royce open Its largest facility hub in Asia - 13Feb2012
SINGAPORE: Singapore crossed a milestone in its effort to become a leading aviation hub, with the opening of Rolls-Royce's largest facility in Asia. The facility at Seletar Aerospace Park costs S$700 million. The 65000-square meter campus includes a training unit and a research and development facility. It's for Trent engine assembly and test, training, research and development, as well as wide chord fan blade manufacturing. With this investment, Rolls-Royce is projected to contribute some S$1.7 billion (0.5 per cent) to Singapore's Gross Domestic Product by 2015. The move is set to create some 500 jobs. Prime Minister Lee Hsien Loong said: "Asia's aviation industry is expected to see strong growth," "Over the next two decades, Asia's fleet is expected to triple. And as a share of global fleet, Asia's fleet will also rise from less than a quarter now, to more than a third. "It enables Singapore to play a key role in supplying air craft engines for the latest jets such as the A380 and the Boeing787 Dreamliner." It's the first time Rolls-Royce is manufacturing the critical component - the wide chord fan blade - outside its home in Derby, United Kingdom. Rolls-Royce Southeast Asia regional director Jonathan Asherson said: "Singapore is close to our growing customer base in Asia, and that's an important factor, but otherwise, there is the availability of the technical skills that this kind of activity requires and Singapore's recognition of the importance of protecting <b>...</b>
2:00
1000 jobs opening in Singapore aerospace and aviation sectors - 01Feb2012
1000 jobs opening in Singapore aerospace and aviation sectors - 01Feb2012
SINGAPORE: One thousand new jobs are opening in Singapore's aerospace and aviation sectors. Half will come from opportunities to be announced at the Singapore Airshow in two weeks' time. The six-day event starts on February 14, 2012. Speaking to Channel NewsAsia, the Economic Development Board (EDB) said it expects four in five of these opportunities to go to Singaporeans. The board said these openings come from 10 projects and joint ventures, among other things. The activities revolve around maintenance, repair, and overhaul operations, manufacturing and training. It added that overall investment commitments secured in 2011 will generate some 1200 new jobs as projects are gradually realised over the next two to three years. The other half of the 1000 openings comes from engine-maker Rolls-Royce, which will be recruiting at the Airshow. Rolls-Royce is still looking to staff vacancies for its S$700 million Seletar Aerospace facility. Three hundred positions have been filled so far, with the firm looking to hire 500 more employees in the near term. The Seletar facility is slated to commence operations in the coming months. EDB assistant managing director Yeoh Keat Chuan said: "We believe that the skill levels right now are quite well-suited to the jobs that we are creating. "But we look forward in future -- there will be (more) jobs created in the R&D space, in repair and development. And through this, then we may require different skill sets. "We've launched a new <b>...</b>
0:23
Fibre optic subscribers crossed 100000 mark - 25Jan2012
Fibre optic subscribers crossed 100000 mark - 25Jan2012
SINGAPORE: Singapore's fibre optic Next Generation Nationwide Broadband Network (Next Gen NBN) recognised its 100000th customer on Wednesday. OpenNet, the operating company for Next Gen NBN, rewarded the 100000th subscriber with a 46-inch Samsung smart TV and a certificate of appreciation. The Infocomm Development Authority of Singapore (IDA) expects Next Gen NBN to reach nationwide coverage of 95 per cent by mid-2012. As of December 2011, network coverage has already hit 85 per cent. But industry players remain sceptical and say there needs to be a stronger impetus for potential users to sign up. Some of the tangible benefits of Singapore's nationwide optical fibre network include faster download speed, which is a great boost for online gaming and learning. Fibre broadband network user Jaslyn Tan said: "Previously, (for) my recorded lectures, I would have to buffer the videos for 10, 15 minutes before I could start watching them. But now, I can more or less watch them immediately." OpenNet's business development and communications director Daniel Ho said a majority of OpenNet's customers are from the residential segment. "I think it has to do with the fact that there's a lot of awareness going on... promotions by the RSP (retail service providers)...that has helped to promote the take-up of residential broadband," he said. But even with the massive roll-out of the new optic fibre infrastructure, industry watchers said the success of Next Gen NBN should be demand-driven <b>...</b>
2:21
Sky Habitat goes on sale on April 14 April 2012 - Call Melisa Lim - +65 9831 6519
Sky Habitat goes on sale on April 14 April 2012 - Call Melisa Lim - +65 9831 6519
Bishan New Condo -- Near to Bishan MRT Register Now for VVIP Preview!! Call Developer Sales Team Melisa Lim - +65 9831 6519 The 509-unit project will consist of two 38-storey towers linked by bridging sky gardens - vastly different from the more traditional approach of individual towers for suburban condo projects. The site was acquired by CapitaLand for $550 million earlier this year. SINGAPORE: When CapitaLand's designer condominium project, Sky Habitat, goes on sale on April 14, it may set a new record for the prices of residential units located in suburban areas. Ahead of the condominium's launch, some market watchers estimated that a unit at Sky Habitat could sell for between S$1700 and S$1800 per square foot. CapitaLand was tight-lipped about prices of the units and it says they will be available closer to the launch date. The 509-unit Sky Habitat is designed by renowned architect Moshe Safdie - a premium that is likely to be reflected in its pricing. CapitaLand paid S$550 million for the condominium's site at Bishan Street 15 through a government land sales tender in February 2011, which some property analysts say was a hefty sum for the time. The developer believes the strong sales momentum seen in the first quarter will continue. "We always believed that the residential market is a function of many factors, the key one being global sentiment," CEO of CapitaLand Residential Singapore Wong Heang Fine said. "Interest rates are still very low, the job market is still <b>...</b>
0:22
Office vacancy rates up, rentals down in Q4 - 25Jan2012
Office vacancy rates up, rentals down in Q4 - 25Jan2012
SINGAPORE: Vacancy rates of Grade A offices in the central business district (CBD) rose to 6.9 percent in the fourth quarter last year, according to property consultancy Savills Research in its latest report on the office sector on Wednesday. It said vacancy rates for such premium office space have remained below 5 percent over the last five quarters. The report also pointed out that the Shenton Way area recorded the largest vacancy increase of 8.8 percentage points to 14.7 percent by the end of the fourth quarter. This arose mainly from unlet space in newly completed buildings. Grade A office rentals also slipped 1.5 percent to S$8.71 per square foot per month (psf/mth) in Q4 from S$8.86 psf/mth in Q3. Savills said "this confirms that Grade A office rents have now softened and are now in the early stages of a downswing." However, average rents last year are still higher than 2010 by 7.8 percent year-on-year. The report added that investment activity has picked up in the fourth quarter of last year. It pointed out that six office buildings were sold for a total of S$2.7 billion. Meanwhile, capital values of Grade A offices fell by 3.8 percent on-quarter to S$2550 per square foot in Q4. However, they were up by 8.5 percent from a year ago. Looking ahead, Savills said the worsening economic outlook is likely to place more companies on a cautious mode and they may hold off expansion plans or reconfigure their offices to sublet excess space. Leasing activity may hence remain <b>...</b>
2:06
Private home sales fall in December 2011 - 16Jan2012
Private home sales fall in December 2011 - 16Jan2012
SINGAPORE: Sales of new private homes in Singapore fell 63 per cent in December to 632 units, according to data released by the Urban Redevelopment Authority (URA). That's significantly lower than the 1702 private homes sold in November. Analysts said that's the steepest monthly decline since 2009, when the government scrapped the Interest Absorption Scheme (IAS). And sales volume could dip further as buyer's sentiment remain cautious. Units at The Palette in Pasir Ris were among the top sellers in December. Amidst the lull of the holiday period and the latest round of property cooling measure, the project managed to book 61 units. Analysts said private homes in suburban areas will continue to dominate sales volume in the coming months. In 2011, a total of 11272 units were launched in the area, with 10404 units sold. They accounted for over 60 per cent of launches and sales volume last year, said Colliers International. Donald Han, vice-chairman, Cushman & Wakefield, said: "We expect more launches particularly in outside the central region. Why? Because the government has a slew of Government Land Sales Programme over the last 18 months and majority of these Government land Sales Programme has to be translated into to new project launches by developers." All in, some 489 units were sold in the outlying areas in December. In contrast, only 35 units were sold in the prime districts. Meanwhile, a total of 108 units were sold in the city fringes. As expected, the introduction <b>...</b>
2:09
Banks in S'pore to boost security - 20Jan2012
Banks in S'pore to boost security - 20Jan2012
SINGAPORE: Consumers can expect more secure electronic financial transactions in future. The Association of Banks in Singapore (ABS) announced Friday that such transactions will shift mostly to a chip-based system by 2014. This means current ATM and NETS point-of-sale networks and infrastructure will have to be changed to adopt the new system. This will be done progressively over the next two years. ABS said it expects this to be fully implemented by 2014. Electronic transactions made with bank cards are mainly done using a magnetic strip on the cards today. Banks are in the process of issuing cards that bear both the strip and electronic chip. As for credit cards, banks have been migrating to EMV chip technology over the last two years. EMV, which stands for Europay, MasterCard and VISA, is a global security standard for chip card technology. Chip cards are said to be safer than magnetic strip cards. A magnetic strip card can be cloned but a chip card has features that protect its contents from being replicated, decoded or tampered with. ABS said banks understand the need for further measures. ABS director Ong-Ang Ai Boon said: "We are always constantly looking to enhance all the security measures. "We know... the fraudsters are getting smarter, more sophisticated; they know what we are doing. But we have to stay ahead of them." The association will conduct a survey to get a better understanding of what customers want and refine the measures. ABS also said all banks in <b>...</b>
0:53
Demand for ECs remain healthy - 04Feb2012
Demand for ECs remain healthy - 04Feb2012
SINGAPORE: Property analysts said subscription rates for executive condominiums (ECs), remain healthy in spite of the uncertain economic outlook. And it is also precisely because of the economic climate that analysts said demand for such housing is likely to stay. In January, about 1000 people had indicated their interest to buy one of the 670 units at The Tampines Trilliant - which analysts said was a healthy 1.5 subscription rate. A balloting process was held on Saturday. Steven Tan, Managing Director of OrangeTee, a real estate agency, said: "We have a very good mixture of first timers and second timers, and we do see that there's a very strong demand from young couples staying near their parents in the area, so they want to buy an EC which is convenient to visit their family in future." Developer Sim Lian Group said prices start from S$682000 for a three-bedroom unit, and S$971000 for a four-bedroom unit. However, compared to private condominiums, property analyst Chris Koh said buying an EC may be a worthwhile investment if one does not mind the restrictions imposed, and waiting 10 years for it to be privatised. He said: "It may be one ticket to getting your private condominium. I've had friends who have bought an EC before. While condominiums were going for S$800000 to S$900000, they bought it at S$600000. But today, 10 years later, when the EC has privatised, it's now worth S$1 million. So prices have escalated over the 10 years by easily 40 to 50 per cent, or even <b>...</b>
4:23
MAS sticks to 1%-3% growth forecast for 2012 - 30Apr2012
MAS sticks to 1%-3% growth forecast for 2012 - 30Apr2012
SINGAPORE: The Monetary Authority of Singapore (MAS) is sticking to its projection that Singapore's economic growth for the rest of the year will moderate, after the surprise rebound in the first three months of the year. Singapore's first-quarter GDP grew 9.9 per cent on quarter and 1.6 per cent on year. This is on the back of a turnaround in the electronics sector as companies restocked, "reflecting a normalisation in disk drive production" following the disruption caused by the Thai floods last year. The central bank is sticking to its forecast that Singapore's GDP growth will be modest, at between one per cent and three per cent this year. It says trade-related activity is likely to remain "sluggish", particularly in the electronics sector. Instead, growth will be anchored by domestic and regional services, such as tourism and the financial industry. MAS says Singapore's growth is expected to come mainly from the services sectors this year as trade-related activity, particularly in the electronics sector, will remain "sluggish". Irvin Seah, economist at DBS Bank said: "Manufacturers are now trying to restock their inventories, and that has led to a surge in production for the electronics industry, which has lifted overall manufacturing as well as headline GDP growth but we don't think that will be sustained in the second quarter. We think some degree of pull back is possible." While economists don't expect a repeat of the strong 9.9 per cent sequential growth in the <b>...</b>
