Las Vegas Sands reaffirms commitment to Marina Bay Sands project
Las Vegas Sands said it is committed to completing the development of the Marina Bay Sands integrated resort in Singapore. Concerns had been raised about the company’s ability to finish the US$4 billion development after news broke out that it was struggling with a shortage of cash. In a statement on Friday, Sands said it … Read more
Govt to watch market before deciding: Mah
THE government will watch the property market closely before deciding whether further measures are needed to address the supply-demand imbalance that has emerged, National Development Minister Mah Bow Tan said yesterday. ‘There is a lot of uncertainty,’ he said. ‘It’s best for us to watch carefully before we start to make the next move. We … Read more
Long-term prospect ‘fabulous’, but 2009 looks gloomy
British Chamber spokesman paints the big picture for Singapore THE long-term outlook for Singapore is ‘fabulous’ but 2009 is likely to be a miserable year economically, said Roman Scott, economic spokesman for the British Chamber of Commerce. In a luncheon presentation yesterday, Mr Scott painted a bleak picture of global growth, but reiterated his confidence … Read more
Adjustments to government land sales programme
WE thank Ee Teck Siew for his letter ‘Government should leave land prices to market forces’ and Adrian Ho for his letter ‘Government should not help developers’ (BT, Nov 4, 2008). Both writers referred to the Oct 31, 2008 announcement by the Ministry of National Development to transfer most of the remaining Confirmed List sites … Read more
Mah: No delay to HDB, govt building projects
PUBLIC housing and government building projects will not be delayed on account of the economic downturn, said Minister for National Development Mah Bow Tan yesterday evening. ‘Demand is still very, very strong. As long as there is a demand, we will continue to build,’ he said, on public housing. Speaking after chairing a public forum … Read more
$700k housing scam: Lawyer pleads guilty
A LAWYER pleaded guilty yesterday to being part of an elaborate housing scam that cheated banks out of almost $700,000. David Tan Hock Boon, 40, became the fourth person convicted in connection with the plot, which also involved David Rasif, Singapore’s most famous fugitive lawyer. A district court heard that Tan conceived a scam in … Read more
Soilbuild Q3 net profit more than trebles
Revenue up 159%, helped by Balestier condo’s contribution SOILBUILD Group Holdings has more than trebled net profit to $15.35 million for the third quarter ended Sept 30, 2008 – from $4.57 million for Q3 2007. Revenue for the quarter was $68.4 million, up 159 per cent year-on-year (yoy) from $26.4 million, helped by the maiden … Read more
Soilbuild’s profit more than trebles in third quarter
TIMES may be difficult in the property sector, but developer Soilbuild Group Holdings has reported a more than trebling of third-quarter net profit from $4.57 million to $15.35 million. The bumper results stemmed from higher contributions from its residential developments and rental properties. Revenue shot up 159 per cent to $68.37 million – largely owing … Read more
When ‘buy now, pay later’ makes sense
A case to restore deferred payment schemes during the recession?: What a difference a year makes. Just over 12 months ago, the economy and stock market were booming, prompting the Government to intervene to cool the heady property market. Out went deferred payment schemes for homebuyers. A year on, and the economy is in recession, … Read more
No delay in upgrading or building: Mah
Minister reassures that public housing projects will proceed THERE is no need to fear that the economic slowdown will be felt in our public housing projects. Giving his reassurances last night in response to questions, National Development Minister Mah Bow Tan said: “There is no delay in our public housing programme, our building programme and … Read more
