Saturday, December 18, 2010

This week | Dec 13-17, 2010

Business Times: Sat, Dec 18
High-specs industrial, office rental gap grows THE rental gap between office and high-specs industrial space has widened, with the commercial property sector picking up at a faster pace last year. But consultants say that the difference has not bec...
High-specs industrial, office rental gap grows


THE rental gap between office and high-specs industrial space has widened, with the commercial property sector picking up at a faster pace last year. But consultants say that the difference has not become large enough to drive companies out of the central business district.


MAS discourages banks from offering 'hold-mail' service


A KEY private banking service called hold mail could be under threat, with Singapore's regulator discouraging its use. Private banks generally charge US$500 a year for the service, which places all correspondence relating to a client's account at the bank for safekeeping.


Mass may figure in CBD's office equation


THE Urban Redevelopment Authority is understood to be reviewing whether a critical mass of office space should be safeguarded in the Central Business District to accommodate Singapore's growth as a financial and business hub. Market watchers say that the outcome could affect office block owners seeking to convert their properties to residential or other uses.


High Notes investors laid low in court battle


MORE than 200 investors have failed to recoup the $18 million they lost when their DBS High Notes 5 were devastated by the collapse of Lehman Brothers. The High Court has decided against the 21 investors who brought the action against DBS Bank on behalf of 192 other individuals.


2010 morsels whet M&A appetite


COMPANIES have gone on a shopping spree for acquisition targets, despite the higher price tags. This uptick in M&A activities is expected to continue into the new year.


Orders zoom in for new $1.5m Lamborghini


THE good times are back and as proof, over 50 units of the latest $1.5 million Lamborghini model have been ordered in the space of a few months - overtaking last year's sales of the Italian super sportscar's entire range here. The LP700-4 is the long-awaited replacement for the flagship Murcielago model.


Hot home sales raise odds of govt cooling


DEMAND for new private homes rose again in November, despite the measures to cool the property market announced barely three months ago. The number of units sold by developers in the first 11 months of this year has already set a new yearly record - even though there is one more month to go.


Job machine skips a beat, but still humming


SINGAPORE'S job creation machine was still humming in the third quarter, but not as strongly as earlier thought. Ministry of Manpower numbers show that 20,500 jobs were added to the economy - less than the 24,100 that it had estimated at end-October.


SGX clears first takeover hurdle, but more await


THE Singapore Exchange has cleared the first hurdle in its quest for a takeover of the Australian Securities Exchange, getting the nod from the Australian competition regulator. Many more hoops, however, await in the form of a review by Australia's Foreign Investment Review Board and the central bank, and the Treasurer's okay.


11,849 homes left unsold in launched private projects


DEVELOPERS are sitting on close to 12,000 unsold units in private residential projects that have already been launched. Data collated from the Urban Redevelopment Authority shows that as at end-November, developers had a stockpile of 11,849 units in projects where marketing had started - that is, projects in which at least one unit had been sold.


Law firms open doors as opportunity knocks


FACING increasing competition from foreign law firms, more local law firms this year have begun frontloading annual bonuses into larger monthly salaries to sweeten pay packages - a trend that's likely to continue through next year.


Good-class bungalows join the party as auctions raise cheer


PROPERTY auctions went more upmarket this year, with several good class bungalows going under the hammer and a changing breed of buyers bidding to snap up real estate. In all, the value of properties sold at auctions rose 33 per cent to $223.9 million this year.

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