|
Back
 x 0
 x 0
|
Risk profile changes as S-Reits eye greenfield projects
SINGAPORE
Moody’s said credit risks for S-Reits would include potential cost overruns, construction delays, counterparty risks and mistiming market sentiment.
It added that, during the development phase, the S-Reits could also come under pressure from additional debt to fund the projects, coupled with the absence of income from the unfinished property.
So far, Moody’s believes that S-Reits have taken certain steps to minimise credit risks. This includes minimising exposure to property development risk by tapping funds and expertise from their sponsors, which have strong track records in development.
S-Reits have also adopted strategies to transfer development risks to third-party contractors, although counterparty risks remain. In addition, rental guarantees and pre-committed leases obtained by some S-Reits can ensure stable incomes upon completion and minimise the risk of mistiming the market.
Moody’s said it had not taken any rating actions on the S-Reits’ recently announced plans to develop properties because their existing ratings already factor in a cushion for the increased debt.
High occupancies and rental growth have also enabled the trusts to service any interest from additional debt incurred.
Also, with a cap on development projects at 10 per cent of the total value of property owned, Moody’s said the rating among S-Reits should stay in investment grade, with at least a Baa rating. — High prices for the acquisitions of buildings are making the development of greenfield projects more attractive for Singapore Reits (S-Reits) but this could come with credit risk implications, according to Moody’s Investors Service.
|
|
Good Post
Bad Post
|
x 0
x 0
|
FACE tO FACE FULL DEBATES of ALL CANDIDATES
IN FRONT OF VOTERS
at EACH and EVERY CONSTITUENCY
shOUld bE HELD.
And nOt this
WISHY WASHY MAKESHIFT
HALF-CUP SUBSTITUTE
pharoah88 ( Date: 23-Aug-2011 11:02) Posted:
PE: Candidates debate role of President in Channel NewsAsia forum
The four candidates getting prepped up
SINGAPORE: The role and function of the Elected President dominated a television debate organised by Channel NewsAsia.
The hour—long programme, called " Meet the Candidates" , featured all four presidential candidates together on television for the first time.
It will be aired on Channel NewsAsia at 8pm on Tuesday, 23 August. The programme will also be simulcast on MediaCorp’s 938LIVE. There will be a repeat telecast on Channel 5 on 24 August.
The candidates were interviewed by
Professor Tommy Koh, chairman of the Centre for International Law at the National University of Singapore
Janadas Devan, director of the Institute of Policy Studies at the Lee Kuan Yew School of Public Policy and
Debra Soon, managing director of Channel NewsAsia.
[Interviewers shOUld be eX-presIdents ? ? ? ? ?]
After a quick introduction by each candidate on why they should get the popular vote, it was straight to question time.
The candidates crossed swords on the limits of the President’s constitutional powers, how they would act on proposals to draw down on past reserves and exercise their moral authority.
They were also asked how they would vet civil service appointments.
Mr Tan Jee Say said: " I would subject the appointees, the recommendations of the government, to a fair bit of scrutiny.
" We are talking of very senior appointments and we must do justice to the powers of the president. We should not take a flippant attitude, that this is from the government’s recommendation and we accept it without question."
Mr Tan Kin Lian said: " I want to check on what are his (appointee) values, and I want to see whether he holds the values of honesty, fairness and a sense of public service. And I will probably want to influence him that these values are very important."
Candidates were also quizzed on what they would say to the leaders of China, India, Indonesia and the United States.
[Public sErvAnts nOt mErcEnArIes]
Dr Tan Cheng Bock said: " The four leaders you mentioned are very important to our country so I’ll be very, very cautious.
" I definitely have to act on the advice of our foreign ministry. Each country has a particular relationship with us, and I have to be guided by how far I can go as a President in my conduct with all these leaders in my conversations."
Dr Tony Tan said: " I would give the same message to any of the four leaders. I would say, in a very polite way, that the issue facing all of us now in the world, in your country, in Asia, in my country in Singapore, is the global economy and the precarious state of the global economy today."
In a separately recorded programme for www.channelnewsasia.com, the candidates also took questions from the public that were sent in earlier. The programme will be uploaded on the website from 9am on Wednesday.
— CNA/ir
|
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
HIGH TIME
fOr ALL TOWN COUNCILS
tO BENCHMARK
STANDARDISE S& CC
acrOss whOle sIngApOrE
|
|
Good Post
Bad Post
|
x 0
x 0
|
Lower S& CC charges for newcomers to Ang Mo Kio Town Council
carolynquek@mediacorp.com.sg
SINGAPORE
The Ang Mo Kio Town Council said this was a move to “standardise” the S& CC rates across all units under its charge.
Meanwhile, the Sembawang-Nee Soon Town Council, another town council affected by the redrawing of boundaries, is reviewing the rates of some residents previously under the Ang Mo Kio Town Council.
The units now under the Ang Mo Kio Town Council were previously under the purview of the former Aljunied and Pasir Ris-Punggol town councils.
Based on the new rates, affected residents will see charges fall between S$12 and S$96 per year, depending on the type of flat they live in.
For example, a five-room flat owner who previously paid S$66 monthly to the former Aljunied Town Council will now pay S$61.50.
Likewise, an owner of an executive flat previously under the former Aljunied Town Council would now pay S$77.50 monthly, instead of S$83.50.
The Ang Mo Kio Town Council said financial prudence has been a priority and it has always fully optimised Government-funded programmes such as the Neighbourhood Renewal Programme to upgrade its facilities.
It has reaped savings from energy-saving initiatives over the years. From October, it plans to install light-emitting diode lamps at over 250 blocks across the Group Representation Constituency. This is expected to further reduce energy consumption.
The town council is also exploring leveraging on solar and other forms of renewable energy to further trim energy consumption in the estates’ common areas. — Some 12,600 units now managed by the Ang Mo Kio Town Council following the redrawing of boundaries in the May 7 General Election will pay lower monthly service and conservancy charges (S& CC) from next month.
|
|
Good Post
Bad Post
|
x 0
x 0
|
Stressful bus rides for those with poor vision
Letter from Danial Bohan
I REFER to the letter “Make public transport more friendly for older commuters” by Mr Ronald Chan (Aug 20).
I support the recommendations offered by Mr Chan to make our public transport more accessible for the less able and elderly in the community.
My work involves serving the needs of individuals with poor vision or those known as the vision-impaired. And most of these individuals are people aged 65 years and above.
One main functional impact of vision loss in the elderly is that it impedes independent mobility, which includes using public transport. Some of these people who suffer from poor vision have shared their stressful experiences when taking public buses.
In addition to being unable to tell that the bus is arriving, some have spoken about how some bus captains are not sensitive to their needs, especially when they ask the bus captain for the bus service number.
|
|
Good Post
Bad Post
|
x 0
x 0
|
China’s S$3.8-trillion headache
Yao Yang
While the downgrade of Unites States government debt by Standard & Poor’s (S& P) shocked global financial markets, China has more reason to worry than most:
The bulk of its US$3.2 trillion (S$3.8 trillion) in official foreign reserves — more than 60 per cent — is denominated in dollars, including US$1.1 trillion in US Treasury bonds.
So long as the US government does not default, whatever losses China may experience from the downgrade will be small. To be sure, the dollar’s value will fall, imposing a balancesheet loss on the People’s Bank of China (PBC, the central bank). But a falling dollar would make it cheaper for Chinese consumers and companies to buy American goods. If prices are stable in the US, as is the case now, the gains from buying American goods should exactly offset the PBC’s balance-sheet losses.
The downgrade could, moreover, force the US Treasury to raise the interest rate on new bonds, in which case China would stand to gain. But the S& P’s downgrade was a poor decision, taken at the wrong time. If America’s debts had truly become less trustworthy, they would have been even more dubious before the agreement reached on Aug 2 by Congress and US President Barack Obama to raise the government’s debt ceiling.
That agreement allowed the world to hope that the US economy would embark on a more predictable path to recovery. The downgrade has undermined that hope. Some people even predict a double-dip recession. If that happens, the chance of an actual US default would be much higher than it is today.
These new worries are raising alarm bells in China. Diversification away from dollar assets is the advice of the day. But this is no easy task, particularly in the short term. If the PBC started to buy non-dollar assets in large quantities, it would invariably need to convert some current dollar assets into another currency, which would inevitably drive up that currency’s value, thus increasing the PBC’s costs.
Another idea being discussed in Chinese policy circles is to allow the yuan to appreciate against the dollar. Much of China’s official foreign reserves have accumulated because the PBC seeks to control the yuan’s exchange rate, keeping its upward movement within a reasonable range and at a measured pace. If it allowed the yuan to appreciate faster, the PBC would not need to buy large quantities of foreign currencies.
[WHY CHINA is nOt bUyIng S$ whOse rAtes Is fIxEd tO be strOng On the OUtsIdE ? ? ? ?]
thErE mUst THE SECRET ? ? ? ?
But whether yuan appreciation will work depends on reducing China’s net capital inflows and current account surplus. International experience suggests that, in the short run, more capital flows into a country when its currency appreciates, and most empirical studies have shown that gradual appreciation has only a limited effect on countries’ current account positions.
|
|
Good Post
Bad Post
|
x 0
x 0
|
prevIOUs lOw wAs S$0.500.
current wOrld economy is much wOrse thAn lAst tIme.
mOst shIps wIll bE lAId Up In dry dOck.
It shOUld be lOwer thAn prevIOU lOw
tArgEt S$0.444
|
|
Good Post
Bad Post
|
x 0
x 0
|
| NOL Operating Figures Show Slight Rebound |
Down year-on-year, but improved period-on period
NOL announced its Period 7 (2 Jul to 29 Jul) operating performance yesterday. Total shipping volume (FEU) increased 7% year-on-year (yoy) to 235,200, while the average revenue per FEU fell 17% yoy to US$2,557. According to its SGX statement, the decline in average revenue was due to the lower rates in the Asia-Europe trade lane.
However, a closer look at the figures reveals that both figures improved over period 6. NOL's shipping volume rose 1.1%, while average revenue rose 1.8% period-on-period. Discounting the dip in period 6, the average revenue has been relatively stable since period 2 (12 Feb to 11 Mar).
Dipping below $1.00 briefly
NOL shares dipped below the psychological barrier of $1.00 yesterday afternoon to reach its intraday low of $0.980. The shares then went for a late rally to close 1.5% day-on-day at $1.035.
| Code |
Name |
Type |
Expiry |
Exercise Price |
| OW1W |
NOL MB eCW120302@ |
Call |
02-Mar-12 |
1.30 |
** For a full list of Macquarie warrants over NOL, you may wish to do a search at http://www.warrants.com.sg/en/warrants/search_e.cgi
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
whOEvEr Is thE nExt prEsIdEnt
wIll AlsO gEt thE
HONORARY PhD TITLE
|
|
Good Post
Bad Post
|
x 0
x 0
|
ALL pOliticiAns
have One title pAssIOn
The HONONARY PHD TITLE PASSION
thE bEst tItLe
thAt Is FREE
And wIthOUT EffOrt
|
|
Good Post
Bad Post
|
x 0
x 0
|
The man whose passion is Singapore
thE mAn rEsIgnEd
whEn hE dId nOt gEt thE DPM title ? ? ??
thIs Is a mAn AftEr
tItLe ? ? ? ?
hIs pAssIOn Is In thE
prEsIdEnt tiTle ? ? ? ?
wIthOUt a PM title
prEsIdEnt is thE
bEst AltErnAtIvE title
title pAssIOn
is alsO a pAssIOn
|
|
Good Post
Bad Post
|
x 0
x 0
|
EXECUTIVE NIGHT PATROL COMMITTEE
should be formed by
- CEO
- COO
- Security Director
- Audit Committee Chairman & Members
And they ALL must undertAkE
nIght sEcUrIty pAtrOl dUty
tO WALK THE TALK
On TRUE SECURITY ATTITUDE
thIs Is abOUt thE
SAFETY of public's LiVes
|
|
Good Post
Bad Post
|
x 0
x 0
|
The spokesperson reiterated that the authorities “view this second breach at a SMRT depot very seriously”.
“Investigations by the LTA and SPF (Singapore Police Force) are still in progress and we will decide on the next course of action after these are completed,” the spokesperson added.
empty vOIcEs ? ? ? ?
Always Talk & Talk [AT& T] ? ? ? ?
wIthOUt actION [WA] ? ? ? ?
aUthorItIes nOt authorIsIng ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
We cannot have
another incident: SMRT
Tan Wei zhen
weizhen@mediacorp.com.sg
SINGAPORE —
This is so because the depot has to be expanded to accommodate new trains before its perimeters can be secured, SMRT chief executive officer Saw Phaik Hwa told reporters at a press conference yesterday.
“The current tracks and facilities for maintenance are not sufficient. The Land Transport Authority (LTA) has worked with us and are putting in more tracks and expanding the system,” said Ms Saw, who reiterated that her company will take “full responsibility” for the incident.
CEO is sAyIng thAt ? ? ? ?
shE Is cOmprOmIsIng & IncOmpEtEnt ? ? ? ?
As wEll As cOmplAcEnt ? ? ? ?
An EntIty is AlwAys expAndIng
eXpAnsIOn is nOt An eXcUse
sAck thE CEO
gEt nEw CEO whO cAn eXpAnd and sEcUre the dEpOt At the sAmE tImE Despite the security breach last week at its Bishan Depot — which saw a train carriage being vandalised, the second such incident in 15 months — transport operator SMRT is unable to give a definite timeline as to when work to beef up security at the facility will be completed.
|
|
Good Post
Bad Post
|
x 0
x 0
|
Updated: 22/08/2011
Independent committee to look into SMRT depot security breach
Public transport operator, SMRT, says an independent committee will be set up to conduct a comprehensive review of security measures and management of the company.
[whAt eXcUse cOmmIttee ? ? ? ? security is a dAIly brEAd & bUtter IssUE ? ? ? ?]
This follows a second security breach at its train depots.
CEO Saw Phaik Hwa said she will be personally chairing the independent body.
She said SMRT takes full responsibility
[CEO shOUld bE sAcked immEdIAtEly fOr sUch LAPSE REPETITION]
for the security breach at its Bishan depot which resulted in a train carriage being sprayed with graffiti.
SMRT said it occurred at a location where upgrading works to the security measures were " being scheduled."
She told reporters at a media conference this afternoon that the incident was unacceptable.
[thE fAct Is thE LAPSE REPETITION is AlrEAdy AccEptEd ? ? ? ?]
And the top priority for the company now is to ensure all security gaps are immediately addressed.
[It wAs stIll nOt a tOp prIOrIty AftEr the fIrst IncIdence ? ]
-By Hetty Musfirah
gOOd gOvErnAnce nEvEr AccEpt FAILURE REPETITION
|
|
Good Post
Bad Post
|
x 0
x 0
|
PE: Candidates debate role of President in Channel NewsAsia forum
The four candidates getting prepped up
SINGAPORE: The role and function of the Elected President dominated a television debate organised by Channel NewsAsia.
The hour—long programme, called " Meet the Candidates" , featured all four presidential candidates together on television for the first time.
It will be aired on Channel NewsAsia at 8pm on Tuesday, 23 August. The programme will also be simulcast on MediaCorp’s 938LIVE. There will be a repeat telecast on Channel 5 on 24 August.
The candidates were interviewed by
Professor Tommy Koh, chairman of the Centre for International Law at the National University of Singapore
Janadas Devan, director of the Institute of Policy Studies at the Lee Kuan Yew School of Public Policy and
Debra Soon, managing director of Channel NewsAsia.
[Interviewers shOUld be eX-presIdents ? ? ? ? ?]
After a quick introduction by each candidate on why they should get the popular vote, it was straight to question time.
The candidates crossed swords on the limits of the President’s constitutional powers, how they would act on proposals to draw down on past reserves and exercise their moral authority.
They were also asked how they would vet civil service appointments.
Mr Tan Jee Say said: " I would subject the appointees, the recommendations of the government, to a fair bit of scrutiny.
" We are talking of very senior appointments and we must do justice to the powers of the president. We should not take a flippant attitude, that this is from the government’s recommendation and we accept it without question."
Mr Tan Kin Lian said: " I want to check on what are his (appointee) values, and I want to see whether he holds the values of honesty, fairness and a sense of public service. And I will probably want to influence him that these values are very important."
Candidates were also quizzed on what they would say to the leaders of China, India, Indonesia and the United States.
[Public sErvAnts nOt mErcEnArIes]
Dr Tan Cheng Bock said: " The four leaders you mentioned are very important to our country so I’ll be very, very cautious.
" I definitely have to act on the advice of our foreign ministry. Each country has a particular relationship with us, and I have to be guided by how far I can go as a President in my conduct with all these leaders in my conversations."
Dr Tony Tan said: " I would give the same message to any of the four leaders. I would say, in a very polite way, that the issue facing all of us now in the world, in your country, in Asia, in my country in Singapore, is the global economy and the precarious state of the global economy today."
In a separately recorded programme for www.channelnewsasia.com, the candidates also took questions from the public that were sent in earlier. The programme will be uploaded on the website from 9am on Wednesday.
— CNA/ir
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 22/08/2011
HDB abusing its power as land owner, says WP
Workers' Party
SINGAPORE: The Workers’ Party (WP) has accused the HDB of abusing its power as land owner by transferring the management rights of 26 common areas from the Aljunied—Hougang Town Council to the People’s Association.
It also said that the PA has curtailed the ground presence of the elected WP MPs by warning residents who apply for permits to hold events at these sites not to invite the elected WP MPs or risk having their applications turned down in subsequent years.
The WP took over the town council from the ruling People’s Action Party (PAP), following their win at the General Election in May.
In a statement to the media, WP chairman Sylvia Lim said the town council received an email from HDB on June 21, informing them of a list of sites to be excluded from their management.
This included 26 sites which had previously been managed by the former Aljunied Town Council under the PAP, said Ms Lim.
She noted that " no background nor rationale was given for the decision" .
Ms Lim said many of the sites are strategically located, being hard courts or amphitheatres which are highly suitable for organising social activities.
She said the Aljunied—Hougang Town Council also wanted to explore the joint use of the sites with the PA. However, an email from PA dated June 15 indicated that " booking (of the sites) by WP will not be allowed" , said Ms Lim.
Ms Lim also said residents of Paya Lebar who applied for permits to hold the lunar Seventh Month events at the sites were told verbally that they could not invite the elected WP MPs or risk their applications being turned down in future.
However, the former PAP MPs are not under such restraints as they are invited as " advisors" to the grassroots organisations. Ms Lim said such actions would give PAP candidates a ground advantage and permanent presence in advance preparation for the next elections.
Responding to media queries, the HDB said it adjusts its list of sites managed by a town council from time to time and this is based on legitimate requests from relevant agencies or civic organisations.
HDB said in this case, PA requested tenancy for the sites to organise community activities. The request was approved as PA had been using the sites frequently, added HDB.
Also responding was the PA which said the practice of leasing public spaces for community activities is not new, nor is it peculiar to Aljunied GRC. It added that the Citizens’ Consultative Committees under the PA may rent various sites across Singapore for community activities.
The PA reiterated that it is non—partisan and does not allow any political party or MP to hold activities on PA premises or other facilities managed by the PA. And this applies to all political parties and MPs, including the PAP.
—CNA/ac
|
|
Good Post
Bad Post
|
x 0
x 0
|
sEE hEr at sUntEc shOw
EvEry yEAr
F R E E
mAy bE cAn trEAt hEr tO dInnEr ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
Maybank: A strong finish to the financial year Outperform
2QFY11 Results / Briefing Note
¨ Maybank’s 4Q results were within our and consensus expectations.
Monday: 22 AUGUST 2011 CLOSING
RM8.64 +RM0.01
|
|
Good Post
Bad Post
|
x 0
x 0
|
|
|
Good Post
Bad Post
|
|
|
|
