PM Lee positive about proposal to link up S'pore, JB urban rails

Prime Minister Lee Hsien Loong has responded positively to a suggestion by Johor's Chief Minister Abdul Ghani Othman to link up the urban rails of Singapore and Johor Bahru.

The issue was discussed when visiting Malaysian Foreign Minister Rais Yatim called on Mr Lee at the Istana on Thursday morning, said Foreign Minister George Yeo at a joint news conference with his Malaysian counterpart later in the day.

The proposal will now be discussed by a joint ministerial committee which is looking into the Iskandar Malaysia project. This committee was set up after PM Lee and his Malaysian counterpart, Mr Abdullah Badawi, had their first retreat in Langkawi last year.

Singapore is the first stop in a series of introductory visits by the new Malaysian foreign minister, and this signals the special relationship between the two neighbours.

Dr Rais said: "Between Malaysia and Singapore, there is only a one-way street and that is to forge ahead together for a future within ASEAN and to share the good fortunes of what the world will offer.

"No one will come to us and help us except ourselves. Therefore, the commonality between the two nations should be at the top of priority lists and the differences – whatever they are – should be left to be scored later."

Among the issues discussed between the Singapore and Malaysian foreign ministers is how to further integrate the economies of both countries and to enhance connectivity across the causeway.

The IDR is one of the cooperation projects which both foreign ministers hope would enhance bilateral ties between Singapore and Malaysia. The project's joint ministerial committee is already in place to look into various proposals.

Mr Yeo said: "Last year, the two prime ministers had their retreat in Langkawi which was very successful, and we are hoping that Singapore can host the next retreat sometime in the near future."

He added that the International Court of Justice is likely to release its ruling on the disputed island of Pedra Branca next month, and both foreign ministers have agreed that they would congratulate whichever country that emerges victorious.

"Whatever the decision, we would accept it and it will not affect bilateral relations. The lighthouse would continue to provide valuable facilities to all navigators, so nothing should change. This is the common position we take," said Mr Yeo.

Dr Rais said: "What is committed through the rule of law, through international arrangement, we must respect. If we do not do that, then being neighbourly is not substantive enough."

On the current political situation in Malaysia, Dr Rais stressed that the question of leadership change is not on the agenda at all.

He said: "These are what we call political airings or political elements in the thoughts of certain sectors in the party as well as outside the party... more so in the opposition.

"The litmus test would be at the (UMNO) general assembly, which would be held in December, and I am most confident that Datuk Seri Abdullah will be the winning element for us all and the Barisan (Nasional) will continue to be a strong and prospective true government for Malaysia."

Dr Rais is also confident that Malaysia's relationship with Singapore will continue to improve going forward.

On Thursday afternoon, the Malaysian foreign minister also called on Senior Minister Goh Chok Tong at the Istana and had a friendly exchange of views on recent developments in Malaysia and the state of bilateral relations.

The two leaders reaffirmed the importance of having good neighbourly relations between the two countries.

Source : Channel NewsAsia - 17 Apr 2008

Rolling times for hotels and tourism

The sector is set to offer exciting products and experiences over the next few years, write CHEE HOK YEAN and DOREEN GOH

SINGAPORE’S tourism and hotel industry turned in a stellar performance in 2007, with record levels in visitor arrivals and trading performance. Total international arrivals crossed the 10-million mark in 2007, rising 5.4 per cent year on year to 10.3 million visitors. In tandem with the record visitor volume, hotels reported higher revenue per available room (RevPAR). In the wake of limited supply, this RevPAR growth was driven almost entirely by the growth in average daily rates (ADR).

According to Jones Lang LaSalle Hotels Research, Singapore’s five-star hotel market ended the year with a high average occupancy of 81.4 per cent and ADR of $276. This translates into a gain of around two percentage points in average occupancy and a significant 16.5 per cent growth in ADR from 2006. Consequently, RevPAR rose by around 19 per cent to $224 over the same period.

The fundamentals are strong. Singapore boosted its airport capacity and status as an important regional air hub with the opening of a third passenger terminal in early 2008. A line-up of prominent events and new attractions can also be expected over the next few years - after the recently held Singapore Airshow and the recent opening of Singapore Flyer, as well as the Formula One Grand Prix to be held later this year. Singapore will see the opening of the Marina Bay Sands integrated resort (IR) in 2009. Come 2010, the republic will also have its own Universal Studios theme park within the Resorts World Sentosa IR and a new passenger cruise terminal at Marina South. More recently, the republic won the bid to host the inaugural Youth Olympic Games 2010.

In the light of these tourism developments and the anticipated corresponding growth in visitor numbers, the hotel sector should see healthy demand. The continued release of hotel development sites by the government to address a potential shortfall in room supply will provide opportunities for aspiring hotel owners and investors to join the bandwagon, while existing players could strengthen their foothold.

The introduction of new brands and new product concepts in new locations will also add variety to the Singapore hotel industry. Catering to different market segments and travellers’ needs, these new developments will help to rejuvenate the existing stock of hotels in Singapore. Examples include the 299-key St. Regis, a luxury hotel which soft opened in December 2007.

In May, Singapore’s new Crowne Plaza Changi Airport hotel will open at Terminal 3. A new Singapore farm hotel will also be operational in Lim Chu Kang by September, while the Singapore Recreation Club has plans to add about 35 guest rooms on its third-floor terraces in 2009. Proposed plans to add a hotel at the Laguna National Golf & Country Club and Jurong Country Club are also underway.

Expected competition

Stiffer competition is expected with the opening of new hotels over the next few years. While we believe this supply can be absorbed, greater product differentiation in terms of branding and targeted markets will be required.

Increasing sophistication among travellers seeking a stay experience rather than just a roof over their heads means that hotels need to constantly innovate and improve their physical product and service offerings. Older hotels that have not undergone any refurbishments recently will therefore feel more pressure to do so when this new supply comes on stream.

The supply influx over the next few years will also create challenges in staffing and manpower needs. Talent retention and management should be accorded greater priority as the mobility of the workforce increases with the availability of new employment opportunities both within Singapore and elsewhere in the region.

It is also important to note that while sentiment is currently looking up in the hotel industry, it is always prudent to be prepared for less favourable trading conditions as markets move in cycles. This is important as the highly volatile nature of the tourism and hotel industry means that often, the pain inflicted by any external shocks (for example 9/11, Sars, tsunami, a political unrest) are felt almost instantaneously. This will be reflected in falling visitor numbers and occupancy levels. As the occurrence of these external shocks is usually unpredictable, business contingency plans should be in place to ride out these challenging times.

Continuing investments

Overall, prospects for the Singapore hotel industry remain upbeat over the next few years, barring any external shocks.

The Singapore government will continue to invest heavily in tourism infrastructure, focusing on the meetings and conventions market and medical and cruise tourism to attain its target of 17 million visitors by 2015. Strong growth in Asia, coupled with Singapore’s standing as a key regional financial and business hub, as well as the introduction of new tourism generators such as the development of the two IRs will drive visitor arrivals to new highs over the next few years. This will form a demand base for the nearly 20,000 rooms in the supply pipeline, including potential rooms that could be generated from the sale of sites under the Government Land Sales programme.

The upcoming supply will also help to rejuvenate the Singapore hotel market, providing travellers with a more diverse and interesting array of accommodation options and stay experiences.

In the medium to longer term, the Singapore market could also witness the potential entry of other accommodation concepts such as condotels or condo hotels, which involves the purchase of a right of ownership of the unit, that is, strata sub-division. While condotels or condo hotels are established in the United States, this concept is relatively new in Asia and yet to establish a presence in Singapore. Given its strata-title nature, however, its feasibility will hinge on the regulatory framework.

All in all, the transformation of the Singapore tourism and hotel industry is on track and visitors can look forward to more exciting products and experiences over the next few years.

Chee Hok Yean is executive vice-president and head of corporate advisory, Asia, Jones Lang LaSalle Hotels, and Doreen Goh is associate, Jones Lang LaSalle Hotels

Source : Business Times - 1 Apr 2008

Australia's Curtin University of Technology to open Singapore campus

Top Australian institution – the Curtin University of Technology – will be setting up shop here, adding another boost to the tertiary scene in Singapore.

Students can expect degree programmes in business and technology when the campus opens in early December.

Artist's impression of the Singapore campus of Curtin University of Technology

The former ITE Balestier campus at Jalan Rajah may not look impressive now, but come December, the buildings will be given a makeover and a new lease of life as the Singapore campus of Australia's Curtin University of Technology.

Details of the S$40 million project are still being worked out, but Australian education service provider, Navitas, said Curtin Singapore will be of the same standard as the university's other campuses in Malaysia and Australia.

Rod Jones, CEO of Navitas, said: "One of the things we would encourage is for students studying in Curtin Singapore campus to do one semester in Australia because part of an international degree is understanding the culture and the country in which the degree is being offered."

Asked if Navitas and Curtin were deterred by the experience of another Australian university, the University of New South Wales which shut its Asia campus here soon after it opened last year, Mr Jones said that unlike UNSW Asia, which was a research university, Curtin saw itself as a teaching university.

Compared to the former, Curtin's model is less expensive to manage.

Curtin Singapore will open its gates to over 900 students, including freshmen and existing students of Curtin's joint programmes with industry partners here.

These partners are Singapore Human Resource Institute, the Marketing Institute of Singapore, and the Singapore Institute of Materials Management.

Although the initial cohort of Curtin students will be fairly modest, the university expects to grow to a size of about 3,000 students in three years.

Talks are also underway to build hostel facilities at the campus, but details have yet to be confirmed.

According to Navitas, there will be some degree of financial aid, but no details can be offered at the moment. - CNA/so

Source : Channel NewsAsia - 26 Mar 2008

Singapore’s inflation hits 6.5% in Feb

The Consumer price index (CPI) rose 6.5 per cent in February from a year earlier - just shy of the 25-year high of 6.6 per cent reported in January - as the cost of housing, food, transport and communication increased, data released yesterday by the Department of Statistics (DOS) shows.

This prompted the Ministry of Trade and Industry to issue a second statement in two months saying that underlying inflation remains stable, as indicated by the three-month moving average (3MMA) CPI, which grew 0.8 per cent month- on-month in February.

It noted that 3MMA, which picked up in the middle of 2007, has stayed around 0.8 per cent since then.

‘The underlying inflation momentum is expected to decline during the course of the year,’ it said.

The ministry issued a similar statement in January when the CPI surged to a 25-year high.

Led by more expensive accommodation and electricity tariffs, the cost of housing jumped 8.8 per cent in February from a year earlier.

Food prices rose 6.7 per cent on the back of higher prices for cooked food, milk products, fresh poultry, fruit and bread.

Higher petrol prices, taxi fares and car prices drove costs of transport and communication by 7.6 per cent year on year.

On a month-on-month seasonally adjusted basis, the CPI rose 0.2 per cent in February from January. For the first two months of this year, the CPI increased 6.6 per cent from a year earlier.

Economists note that while an upside risk to the CPI remains, an expected easing in the second half of this year will allow the index to fall within the government’s official forecast of 4.5-5.5 per cent. Hence, monetary tightening by the Monetary Authority of Singapore in April is unlikely, they say.

‘Clearly, the downside risk to growth is probably greater now,’ said Citi economist Kit Wei Zheng. ‘With policy makers being aware of that, I think further tightening is not the way to go.’

Mr Kit said he expects the CPI to stay above 6 per cent in the first half of this year before moderating to around 4 per cent in the second half when the effect of the two percentage point hike in goods and services tax wanes and the high base of comparison for commodity prices in the second-half 2007 kicks in.

‘While the year-on-year figure looks rather daunting, exaggerated by the low base a year ago, we can take comfort that the rate of growth is stable or slowing,’ added CIMB-GK regional economist Song Seng Wun.

CIMB-GK is keeping its full-year CPI forecast the same as the government’s estimated range, while Citi recently raised its projection from 5 per cent to 5.4 per cent.

Across different income groups, the top 20 per cent of households have felt the most heat from the higher inflation climate, according to DOS’s household survey.

The CPI for the top 20 per cent income group rose more sharply, from 0.4 per cent in 2006 to 2.3 per cent in 2007 on the back of higher costs of holiday travel, car and petrol, which have relatively larger weightings in this group than the lower-income groups.

This compares with a 2 per cent year-on-year increase in the CPI for the lowest 20 per cent income group and middle income group, from 1.8 per cent and 1.1 per cent in 2006.

For the whole of last year, the inflation rate for general households - the central 90 per cent of households by expenditure - was 2.1 per cent compared with one per cent for 2006, as the cost of food, holiday travel, accommodation (rented and owner-occupied), university tuition fees, taxi fares and petrol rose. The CPI rise also reflected a one-off increase in GST in July last year.

Source : Business Times - 25 Mar 2008

Singapore inflation stays at 26-year high

Prices jump 6.5%, driven by higher food, transport and housing costs

CONSUMER prices surged 6.5 per cent last month from a year ago, continuing a rate of increase not seen in 26 years.

Food, transport and housing costs were again the main drivers as a confluence of external and internal factors kept last month’s inflation at just a shade off January’s 6.6 per cent.

The figure - released by the Department of Statistics yesterday - was broadly within market expectations. A Bloomberg News poll of 17 economists tipped a rate of 6.8 per cent.

Experts said rising prices will persuade the Monetary Authority of Singapore (MAS) to keep its policy of allowing the local currency to strengthen, to help fight off higher prices of imported goods.

But there is less consensus as to whether the central bank will get more aggressive when it holds its scheduled review next month. Any tightening of monetary policy will hurt an already slowing economy.

‘February’s consumer price index moderated a touch but still stayed elevated,’ said Goldman Sachs economists Mark Tan and Michael Buchanan, who expect inflation to peak at around 7 per cent in the first half of the year.

Prices of meat and poultry, cooking oils and dairy products clocked double-digit gains, while rice, cereal and fruit cost almost 10 per cent more than they did last year.

High oil prices also made themselves felt in electricity bills and at petrol pumps.

Indeed, transport costs jumped 9.6 per cent, boosted also by higher taxi fares and car prices.

Housing costs surged the most at 8.8 per cent. But this was mostly a pass-on effect from January’s one-off revision in annual home values.

Health-care costs rose 7.4 per cent from higher hospitalisation fees and medical consultation charges - and also as Chinese herbs became costlier.

Standard Chartered Bank economist Alvin Liew said sustained increases in this area are of concern, especially as the population gets older.

He noted that the sector is especially dependent on foreign nurses. Competition for these workers and the rising currencies of their home countries may be driving up wage costs in Singapore.

The statistics department also highlighted foreign maid salaries, holidays, cable subscriptions and cigarettes as other significant sources of inflation.

The Trade and Industry Ministry issued an accompanying statement yesterday, saying the ‘underlying momentum in inflation remained stable’. It expects this to decline ‘during the year’ and is retaining its forecast of 4.5 to 5.5 per cent for annual inflation.

Still, Mr Tan and Mr Buchanan believe the MAS will move next month to allow for a faster appreciation of the Singapore dollar.

‘Slowing growth is an obstacle…but in our view, the easing in fiscal settings revealed in the 2008 Budget and low interest rates will provide a buffer to growth,’ they said.

But Citigroup economist Kit Wei Zheng reckons the MAS will stay put as growth concerns take precedence.

He raised his full-year inflation forecast to 5.4 per cent, ahead of the latest data. But he also slashed his economic growth estimate to 4.7 per cent, from 5.2 per cent, citing worsening United States conditions.

Source : Straits Times - 25 Mar 2008

Singapore voted cleanest Asian economy in PERC survey

Singapore has received the thumbs-up from expatriate businessmen in the region as the cleanest Asian economy.

In a latest survey by the Political and Economic Risk Consultancy (PERC), both Singapore and Hong Kong retained their top spots of first and second, respectively.

Over 1,400 expatriates were asked to rank 13 Asian economies between January and February this year.

The 13 economies were China, Japan, Macau, Hong Kong, Singapore, South Korea, Malaysia, Taiwan, India, Vietnam, Indonesia, Thailand and the Philippines.

The survey had excluded countries notorious for corruption, such as Myanmar and Bangladesh.

Poll results showed that Philippines had the worst score out of the 13 economies. It was cited as an example where its government lacked the political will to tackle the problem, despite huge economic progress.

Thailand was ranked 12th after Indonesia, which had made improvements under President Susilo Bambang Yudhoyono. But the report said the perception of a corrupt bureaucracy remained strong among businessmen.

Malaysia retained its sixth ranking, but achieved a worse score compared to last year's survey.

Scoring System
- On a scale of zero to ten, zero being the best possible score.
- Last year's scores are in brackets.

1. Singapore 1.13 (1.20)
2. Hong Kong 1.80 (1.87)
3. Japan 2.25 (2.10)
4. Macau 3.30 (5.18)
5. South Korea 5.65 (6.30)
6. Malaysia 6.37 (6.25)
7. Taiwan 6.55 (6.23)
8. India 7.25 (6.67)
9. Vietnam 7.75 (7.54)
10. China 7.98 (6.29)
11. Indonesia 7.98 (8.03)
12. Thailand 8.00 (8.03)
13. Philippines 9.00 (9.40)

Source : Channel NewsAsia - 11 Mar 2008

Economists see Singapore Q1 growth at 5.7%

Singapore's economy will grow 5.7 per cent in the first quarter from a year ago, picking up slightly from a 5.4 per cent expansion in the fourth quarter, a central bank survey showed on Monday.

However, growth in the full year will slow to 5.6 per cent from last year's blistering 7.7 per cent, the Monetary Authority of Singapore's (MAS) quarterly survey of 19 private sector economists showed.

The government expects the economy to grow by between 4-6 per cent this year.

The 2008 economic growth forecast was cut from 6.3 per cent in the MAS's December survey, on a worsening economic outlook in key export market to the United States.

The construction sector is seen to be leading growth in 2008, expanding 15.9 per cent from a year ago, while the financial services sector is expected to grow 9.5 per cent.

Economic growth in 2008 is seen to be the weakest in the second quarter at a median 4.4 per cent, before picking up to peak in the fourth quarter at a median 6.8 per cent.

Reflecting 25-year high inflation in the Southeast Asian city, economists expect inflation this year to more than double to 5.0 per cent from last year's 2.1 per cent.

The Singapore economy, which shrank in the October-December period from the previous quarter for the first time since 2003, is expected to slow this year, dragged by a struggling US economy.

However, rising consumer prices in the republic are limiting the central bank's ability to loosen monetary policy to boost economic growth. -- REUTERS

Source : Business Times - 10 Mar 2008

Economists expect GDP to rise by 5.7% in Q1 2008

Singapore's economy will grow 5.7 percent in the first quarter from a year ago, picking up slightly from a 5.4 percent expansion in the fourth quarter, a central bank survey showed on Monday.

However, growth in the full year will slow from last year’s pace of 7.7 percent to 5.6 percent, the Monetary Authority of Singapore's (MAS) quarterly survey of 19 economists showed.

In a statement, MAS added that the prediction also marks a downgrade from the 6.3 percent growth forecast in the December survey.

Analysts have recently lowered growth targets for economies across Asia that may suffer from weak demand for manufactured goods as the United States nears recession.

The government expects Singapore's economy to grow by between 4 and 6 percent in 2008.

Singapore's manufacturing sector, which contributes about one third of annual gross domestic product, is expected to grow 5.0 percent in 2008, slower than the projected rate of 6.8 percent in the last survey.

Meanwhile, the construction sector is seen to be leading growth in 2008, expanding 15.9 percent from a year ago, while the financial services sector is expected to grow 9.5 percent.

The survey forecasts that inflation will increase sharply in 2008, likely adding to pressure on the central bank to appreciate the currency.

The survey also forecasts that non-oil domestic exports will grow 5 percent in 2008, at the center of the government forecast for 4 to 6 percent growth.

Due to the sharp increase in food and energy costs compounded with rising real estate expenses, the MAS put the local dollar on a "slightly" faster appreciation path in October.

Singapore dollar interest rates are forecast to fall, reflecting the likelihood of further monetary easing by the U.S. Federal Reserve this year. - CNA/vm

Source : Channel NewsAsia - 10 Mar 2008

$40m Orchard Road facelift put off till next month

Talks between malls, tourism board drag on over impact of works on businessesTHE great $40 million Orchard Road makeover has stalled because some mall owners are objecting to some aspects of the works.

The revamp of Singapore's premier shopping street was supposed to have begun in the middle of last month, after Chinese New Year, but will now not go ahead till next month at the earliest.

The Straits Times understands that the delay is the result of talks between the Singapore Tourism Board (STB) and Orchard Road businesses dragging on for longer than expected.

One sticking point appears to be in the details of the makeover, although most of the mall owners believe the revamp is overdue.

The makeover, announced last October, involves introducing new plants and flowers, as well as new street furniture and lighting along the thoroughfare, which will be divided into three sections themed along the lines of fruit, flower and forest.

Sections of the pedestrian walkways from Tanglin Mall to Le Meridien hotel will be repaved, and the right-most road lane will be closed to create a wider walkway in front of Ion Orchard, Wisma Atria, Ngee Ann City and the Meritus Mandarin hotel.

This one-lane closure is among the mall owners' chief concerns.

A spokesman for a major shopping mall who did not want to be identified called the closure a 'double whammy' for the area, which already experiences frequent vehicular- and human-traffic jams.

'There's a bottleneck at the Paterson Road area because of massive work being done for Ion Orchard, and lots of congestion at Somerset too. The problem of pedestrian traffic will be compounded with the widening works,' said the spokesman.

The owners of some other malls and hotels are also upset that they have not been given details such as when, where and for how long hoardings will be erected.

Ms Lau Chuen Wei, executive director of the Singapore Retailers Association, said these businesses are worried because not knowing these details, and also how high the hoardings will be, means they do not know how traffic into the area will be impeded - or how their businesses will be affected.

But at least two malls - Ngee Ann City and Ion Orchard - have been given details of the works.

Another concern is how the upgrading works will affect July's Great Singapore Sale (GSS) and the Christmas shopping season.

Businesses have also been reported as saying that although the $40 million budget for the works is not small, the makeover will still fail to address major issues such as the lack of sheltered connectivity between buildings and down the entire strip.

When contacted by The Straits Times, the STB confirmed that works have been pushed back till next month, but added that they will still end on schedule, in April next year.

Mr Andrew Phua, its director for cluster development (tourism shopping and dining), said in a statement: 'These plans have been communicated to Orchard Road stakeholders as part of the STB's ongoing dialogue and engagement with its industry partners.'

The statement also assured mall owners that the GSS and Christmas shopping season will go ahead, but made no mention of whether they will be disrupted by the works.

This is not the first time mall owners have disagreed with the STB over plans to add polish to the area.

One suggestion last year for a glass canopy running down the stretch of the road was immediately shot down by mall owners, who said it would require too much maintenance.

Source : Straits Times - 7 Mar 2008

Singapore is most liveable city in Asia

Europeans and Americans view country as best in region while Asians say it is world’s top spot.

SINGAPORE has hit another home run with expatriates - Europeans and Americans reckon it is the best place in Asia to live, while Asians say it is the top spot anywhere in the world.

The annual survey, which has a major influence on luring foreign talent, compares living standards in 254 locations across the globe.

For the sixth straight year, Asian expatriates have named Singapore as the best city worldwide for quality of life.

Its fine infrastructure and health facilities, cosmopolitan population, and low health risks and crime rates scored the Republic plenty of points among those surveyed, according to the poll by human resources consultancy ECA International.

Singapore trumped the Australian cities of Sydney and Melbourne, which were ranked the second and third most attractive places worldwide for Asians to call home .

Europeans and Americans were also sold on Singapore, ranking it as their preferred choice in Asia, although on a global scale, they opted for Copenhagen. The Danish capital also ranked as the fifth best place worldwide for Asians to live in.

About 1,500 companies globally buy the report, so the ranking can greatly influence hiring policies.

ECA recommends that companies do not need to pay any ‘hardship’ allowances to their workers assigned to Singapore. This allowance, which can comprise up to 30 per cent of an expat’s salary, is paid to workers in countries where the standard of living is lower than in their home base.

The more comfortable the location, the lower the allowance and Singapore’s is set at zero.

However, there were some negatives this year with scores for air quality in Singapore hit by the smoke haze.

The Republic’s score for availability of quality accommodation also declined slightly, primarily due to the collective sale fever which has ‘reduced the supply of decent-standard accommodation in Singapore, irrespective of cost’, said Mr Lee Quane, ECA International’s general manager.

This narrowed the gap between Singapore and other locations such as Hong Kong, which jumped eight places in the rankings to No. 4 on the list of Asian cities with the best quality of life for Asians.

Hong Kong’s scores improved, thanks to significantly better scores for personal security.

Mr P.Maran, an Indian national in his 40s working for a technology multinational firm here, said Singapore was ‘by far the best place for Asians to live as it is safe, clean and is closer to home than other locations such as Australia’.

But he noted that the cost of such high-quality living comes at a price. ‘The cost of everything from rental to transport to children’s education is shooting up,’ he said.

While this survey did not rank Singapore in terms of cost of living, an ECA study last November showed that the Republic rose 10 places in a global survey of the most expensive places for expatriates to live.

But despite the jump, Singapore, at No. 122, is still significantly cheaper for expats than Hong Kong and other key global centres, such as London - at No. 10.

Popular choices Top 10 locations in the world for Asians to live

1. Singapore
2. Sydney (Australia)
3. Melbourne (Australia)
3. Kobe (Japan)
5. Copenhagen (Denmark)
6. Canberra (Australia)
7. Vancouver (Canada)
8. Wellington (New Zealand)
9. Yokohama (Japan)
10. Dublin (Ireland)

Source : Straits Times - 5 Mar 2008

Singapore tops among Asian expats: survey

The Republic is the best place for them to live worldwide; Baghdad ranks last

The Republic ranks as the best place for Asian expatriates to live worldwide, according to the latest survey by human resources consultancy firm ECA International.

Singapore surpasses cosmopolitan cities such as Sydney, Melbourne and Copenhagen in Asian expatriates' view, the survey showed. These cities are ranked second, third and fifth respectively in the top 15 locations for Asian expatriate living.




















Meanwhile, Kobe (joint third with Melbourne), Yokohama (eighth), Tokyo and Hong Kong (both 15th) are the only other Asian destinations that made it to the top 15 list.

Conducted annually, the Location Ranking Survey compares living standards in 254 locations globally, taking into account climate, air quality, health services, housing and utilities, isolation, social network and leisure facilities, infrastructure, personal safety and political tensions.

'High quality infrastructure and health facilities, combined with low health risks, air pollution, crime rates and a cosmopolitan population, make Singapore a very appealing location for Asians to live in,' said Lee Quane, general manager of ECA International.

'Although we did see a small deterioration in some factors, such as air quality and accommodation in 2007, it still retains its status as being the location with the best quality of living for assignees in this region.'

He explained that Singapore 'was much more affected by haze in 2007' compared with the preceding year, causing it to lose points in the air quality category. Meanwhile, 'recent market developments in en bloc (property sales) had an impact on the supply of standard accommodation'.

Nevertheless, Singapore has consistently been ranked the best location for Asian expats to live for a decade, said Mr Quane, who believes that it will retain that spot despite 'Hong Kong moving up our rankings' this year after sliding for several years, due to improved personal security scores and the movements of locations around it.

'We now see the narrowing in quality of living between Singapore and Hong Kong, but it is unlikely that Hong Kong will match Singapore. The main reason is (Hong Kong's) air pollution, which is unlikely to go away any time soon,' he explained.

At the other extreme, Baghdad is the least favourable place for Asian expats to live in, followed by Kabul (Afghanistan), Karachi (Pakistan) and Port-au-Prince (Haiti), due to the locations' risk to personal security and their lack of suitable facilities, according to the survey.

Source : Straits Times - 5 Mar 2008

Survey finds Singapore the best place to live for asian expats

When it comes to work and play for Asian expats, Singapore is the number one choice.

This is according to a recent survey by ECA International, a global human resources organisation.

Singapore has maintained the top spot for ten years now but regionally, it is getting tough competition from Japan and even Hong Kong.

The survey found that Singapore's infrastructure, low crime rate and lack of social and political tensions were the main factors behind its draw.

Related Video Link - http://tinyurl.com/38qg9p

"For us, it's very peaceful and we don't feel any hassle or difficulties. So I think for us it's the best place," said an expatriate.

"Growth is planned. That's one of the reasons we feel we have more value for money here," said another.

But there are some factors that Singapore needs to address if it wishes to remain at the top spot.

Firstly, it has to counter the haze issue caused by forest fires in neighbouring countries.

It also has to make sure that property and rental prices are affordable for Asian expats.

"It's pretty good to work here and earn money but not for retirement," said an expat.

"It's not like Australia is any worse than Singapore, so I would say it's personal choice at the end of the day," said another.

Sydney came in second in the rankings, while Melbourne and Kobe tied in third place.

Hong Kong went up the rankings by eight spots to reach the 15th position this year.

Most Chinese cities, like Beijing, while they are not in the top 100, they have risen quite rapidly in the rankings over the last five years.

But this progress may soon plateau. Lee Quane, ECA International's general manager in Hong Kong, explained: "Pollution levels in mainland Chinese cities are consistently high....the highest among the cities which we include in our rankings."

Air quality is one factor considered in the rankings. - CNA/ir

Source : Channel NewsAsia - 4 Mar 2008

Expats vote Singapore, Copenhagen best for living

Asian expatriates have ranked Singapore as the best place to live in the world for its safe and clean environment, while Europeans chose Copenhagen, a survey showed on Tuesday.

Asian expats chose Singapore over Hong Kong (15th place) and Shanghai (78th place) and placed Sydney, Melbourne and Canberra as well as two Japanese cities Kobe and Yokohama in their top ten list of favourite locations, said ECA International, a human resource consultancy for multinationals.

Lee Quane, general manager of ECA International, said that Singapore's solid infrastructure, low crime rate and clean air made it a favourable place to live.

'While Hong Kong has seen an improvement in some categories, such as personal security, air pollution remains the biggest cause for its lower rankings relative to Singapore,' he said in a statement.

Singapore is competing with Hong Kong as a location for banking and financial services.

For locations in China and India, Shanghai and Chennai (138th place out of a total of 300 locations) came in top for Asian expats, said the annual survey.

European expats ranked Copenhagen as their top choice to live in the world. They placed three Swiss cities - Geneva, Basel and Bern - and three German cities - Dusseldorf, Bonn and Munich - in their top ten.

East European cities such as Bratislava and Bucharest have made improvements in this year's survey because of advances in security, housing and health, the survey said.

European expats rated Bratislava, the capital of Slovakia, as their 20th choice and Romania's capital of Bucharest in 14th place.

In the Middle East, Manama, the capital of Bahrain, ranked top in the region along with Dubai and Muscat. Baghdad, in last place globally, lost marks for poor security, the survey said.

Top 10 best locations in the world for Asian expats

1. Singapore - Singapore
2. Australia - Sydney
3. Japan - Kobe
4. Australia - Melbourne
5. Denmark - Copenhagen
6. Australia - Canberra
7. Canada - Vancouver
8. Japan - Yokohama
9. New Zealand - Wellington
10. Ireland - Dublin

Source : Business Times - 4 Mar 2008

Survey ranks Singapore as best place to live for Asian expats

Singapore is the best city in the world for Asian expatriates to live in due mainly to its quality of life and low crime rate, a survey released Tuesday by ECA International showed.

Sydney was rated second in the survey, with third spot shared by Melbourne and Kobe in Japan, the human resources firm said.

Rounding out the top 10 list for Asian expatriates was Copenhagen in fifth spot, followed by Canberra and Vancouver. Wellington and Yokohama shared eighth spot, with Dublin next.

ECA said Singapore, Southeast Asia's most advanced economy, was also ranked above the other cities because it offered Asian expatriates a similar feel to their home countries.

"Since quality of living is relative to where someone comes from and to where they are going, our scores take into account the home and destination country," said Lee Quane, ECA International's general manager in Hong Kong.

Hong Kong, Singapore's long-running regional rival as a business hub, was ranked 15th in the global cities list, with the territory's air pollution cited as a drawback.

Among Chinese cities, Shanghai was seen as the best place for top Asian professionals while Xian ranked as the worst location, according to the survey, which compared living standards in 254 locations worldwide.

Beijing, host of the 2008 Olympic Games in August, fared worse than other Chinese cities such as Nanjing and Tianjin because of its notorious air pollution, the survey showed.

ECA International's annual survey is based on categories such as climate, air quality, health services, housing, political tension and personal safety.

Within Asia, Hong Kong and Tokyo were ranked joint fourth behind Singapore, Kobe and Yokohama, the survey said.

Trailing in sixth spot was Taipei, followed by Macau and Bangkok, with Malaysia's Kuala Lumpur and Georgetown cities sharing ninth spot while Shanghai and Seoul were in 11th and 12th places, respectively.

Brunei's Bandar Seri Begawan was in 13th place in Asia and 89th place globally.

Manila was ranked 24th in Asia and 133 globally, while Jakarta was in 39th place regionally and 190th worldwide.

Chennai was the highest ranked Indian city within Asia, in 26th spot, with Mumbai in 30th and New Delhi 37th. - AFP/ir

Source : Channel NewsAsia - 4 Mar 2008

Charmed circle

The Circle Line will open from next year, starting with Stage Three, which links the Bishan station on the North-South Line to the Serangoon station on the North-East Line. Experts say this added accessibility will boost property values in the areas around each station. Which are some of the notable stations and residential developments to look out for now?

Bartley Road - Steep price jump likely

Current prices

AT THE end of last year, homes in the Bartley area averaged $543 per sq ft (psf) in price.

While there are too few projects in the area to allow an accurate comparison of average prices over time, those projects with more transactions showed steady price rises last year.

These include Casa Rosa at Lorong Ong Lye and Sun Rosier at How Sun Drive, which went up in price by 20 per cent to 30 per cent last year.

Potential growth

Home prices are likely to jump by up to 30 per cent after the completion of the Circle Line MRT Station in front of the Maris Stella schools, said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

He said this is one of the locations that will see the biggest rises in value as prices in the area are fairly low right now.

The construction around the area seems to be more extensive than usual, he noted.

‘I would expect a significant price jump once the station is operational. Residents will then reap the benefits after suffering years of disruption from the road works.’

New launches

A new 35-unit freehold project, Evania at Bartley Road, was recently launched right in front of the future station.

Prices start from more than $800,000 for a two-bedroom unit and go up to just above $1.1 million for a 3+1 bedroom unit. There is also a penthouse.

Lorong Chuan - Richly valued haven

Current prices

PRICES in the area around Lorong Chuan and Serangoon Avenue 3 climbed almost 50 per cent on average last year, according to data from Savills Singapore.

They are now about $710 per sq ft (psf), from $480 psf the year before. But prices vary hugely depending on the project’s age.

Chuan Park at Lorong Chuan, built in the mid-1980s, goes for about $600 psf. In contrast, The Chuan, a recent launch, has seen transactions go over $1,000 psf.

At Amaranda Gardens at Serangoon Avenue 3 and Goldenhill Park Condo at Mei Hwan Drive, both fairly new projects, units have sold for $743 to $914 psf since the year started.

Potential growth

The quiet residential area is popular with locals and expatriates alike, partly because of the schools there, which include Nanyang Junior College and St Gabriel’s Primary School.

Home prices, however, have already gone up significantly in the last 12 months, so not much upside is likely, said Savills’ Mr Ku Swee Yong. He expects a 10 to 15 per cent rise this year.

New launches

No future launches are known at this time. Apart from The Chuan, recent launches include two cluster housing projects, Dunsfold 18 and Milford Villas, which came on the market last year.

Dunsfold 18 bungalows sold for between $3 million and $3.6 million each.

The terrace houses at Milford Villas went for $1.2 million to $1.63 million each.

Marymount - Moderate price increase

Current prices

CONDOMINIUMS around the future Marymount MRT Station saw an average price increase of 35 per cent last year.

Prices rose from about $576 per sq ft (psf) to $777 psf last year, according todata from Savills Singapore.

Thomson 800 at Thomson Road is among the developments that command the highest prices in the area. Its most recent transactions, in October last year, went above $1,000 psf.

Elsewhere, at Seasons View in Pemimpin Drive and Lakeview Estate in Upper Thomson Road, homes are fetching less than $700 psf.

Potential growth

The spillover from nearby Bishan - as well as the cluster of office and industrial buildings near the new MRT station - could boost prices in the area by up to 15 per cent, said Savills.

The proximity to Raffles Junior College and Raffles Institution will further enhance property values near the station.

New launches

A new project is set to be built at Bishan Street 22, courtesy of Sim Lian Land, which bought the land last year from the Housing Board (HDB).

Last year, Sim Lian’s managing director, Mr Kuik Sing Beng, said he expected to launch a 600-unit development on the plot by this June.

He said it would be a 99-year leasehold, entry-level condo aimed at HDB upgraders. He estimated the homes could sell for between $700 and $750 psf.

Mountbatten - Boost expected from Sports Hub

Current prices

LOCATED near the former Kallang Stadium site and the interim campus for the School of the Arts, Mountbatten is an up-and-coming estate, but it has few condominiums.

Apartments at nearby Tanjong Rhu and Meyer Road, however, are going for between $1,000 and $1,500 per sq ft (psf) on average.

Potential growth

Property watchers said with so few private housing projects in the vicinity, it would be hard to track price growth around the station. Once the nearby Sports Hub is completed, however, property values around the area could rise by at least 10 per cent, they said.

New launches

A small project launched in the area last Saturday quietly sold more than 80 per cent of its 45 units within a week.

The freehold Cosmo, located 400m from the upcoming Mountbatten MRT Station, fetched average prices of $1,050 to $1,100 psf.

As at Friday, a few two-bedroom and duplex units were still available, priced at between $700,000 and $925,000.

Mr Melvin Poh, the managing director of Cosmo developer Fission Development, describes the area as ‘quite exciting’, as there are so many billion-dollar projects sprouting up nearby.

He expects home rentals in the area to hold steady, given its proximity to the city and a future MRT station.

Dakota - Values to swing up on HDB turf

Current prices

THE site for the upcoming Dakota MRT Station lies smack in the middle of an HDB estate, with few private homes immediately nearby.

The Government, though, may be trying to further develop private housing in the area, given the release of a plot at Dakota Crescent last year.

Few HDB resale transactions have taken place there in recent months. A single four-room flat sold for $440,000 last month.

Further down the Dunman Road/Tanjong Katong Road side, prices of private condominiums have shot up by some 40 per cent in the last year to an average of between $700 and $1,000 per sq ft (psf).

Potential growth

Home prices at Dakota are not expected to rise by that much, since they have already gone up a fair bit in the last year.

With a new station opening in the area, however, values could go up by at least 20 per cent, once construction is finished and the roads are cleaned up, said Savills Singapore’s Mr Ku Swee Yong.

The presence of many schools in the area, including Broadrick Secondary School and Chung Cheng High School, should also boost demand and rentals.

New launches

Boutique developer Ho Bee, which bought the government plot released last year, has a widely anticipated project coming up on the site.

The new units are likely to be launched at an average of $1,000 to $1,100 psf, Ho Bee said last year.

About 380 homes can be built on the 99-year leasehold site.

Source : Sunday Times - 2 Mar 2008

Singapore will be 'important node' in Arab network

SINGAPORE has always been an 'important node' in the international Arab network, and Foreign Minister George Yeo is confident that the country will become one again in the 21st century.

With the Middle East fast becoming a 'new frontier' for Singapore, he told the House yesterday that the region is 'full of opportunities, though not without risks'.

In the last few years, relations between Singapore and the Arab nations have seen a 'sea change' and high-level bilateral visits are so common, it is happening almost every month.

Mr Yeo was responding to Dr Mohamad Maliki Osman and Mr Hawazi Daipi (both Sembawang GRC), who asked about Singapore's ties with the Middle East.

Relations with the six countries of the Gulf Cooperation Council (GCC) have been stepped up, said Mr Yeo, and negotiations on a free-trade agreement between Singapore and the GCC were successfully concluded last month.

The GCC members are Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates.

It is estimated that about 35 million people live in these GCC states.

Beyond the GCC, Singapore's ties with Libya have also 'begun to flower', said Mr Yeo, since the establishment of relations last year.

Senior Minister Goh Chok Tong will be making an official visit to Libyan capital, Tripoli, later this year.

Mr Yeo also revealed that Shell's Singapore chairman Lee Tzu Yang has been appointed to chair the new Middle East Institute. An international search for a director is ongoing.

Source : Straits Times - 29 Feb 2008

Area around Singapore River to be revamped for F1 night race

The area around the Singapore River is getting a new look to give it a night-time buzz, and lighting will be a key feature in the makeover.

The Read and Cavenagh bridges will be fitted with programmable lights that produce different colours and patterns. There will also be lights under the Clemenceau, Coleman and Elgin bridges.

Even the underpasses at Boat Quay, Empress Place and Clarke Quay will be fitted with programmable lights.

The river steps outside Central Mall and UOB Plaza will light up as well.

Floating lights in the shape of jellyfish will be making a splash on the river outside Empress Place. There will also be new street lamps and lights on the trees along the riverfront.

Work on the makeover starts in April and the Singapore Tourism Board is aiming to finish the first phase in time for the Formula One night race in September.

The first phase of infrastructure work stretches from the mouth of the Singapore River to the Cavenagh Bridge and Clarke Quay – about 2km out of the total 3km of works.

The second phase – from Robertson Quay to Kim Seng Bridge – will start in October 2008, and is scheduled to be completed in March 2009.- CNA/so

Source : Channel NewsAsia - 29 Feb 2008

Singapore River to get makeover to add buzz to waterfront nightlife

THE Singapore River, already a throbbing night-life spot, will get a large-scale makeover to add even more buzz to the waterfront area.



The Singapore Tourism Board (STB) on Friday morning announced plans to make it rock round the clock.

These include infrastructural improvements such as new lighting and signs, as well as adding a new river festival and other quayside events.



These are part of the effort to create more night-time buzz in the area, said Ms Margaret Teo, assistant chief executive (leisure) at the STB.

'Like Orchard road and the Marina Bay precincts, the Singapore River has the potential to stand out as a distinctive 24-hour entertainment lifestyle destination,' she said.



According to a 2006 survey by the STB, only 7 per cent of visitors polled actually visited Boat Quay and Clarke Quay, despite the fact that the STB has touted them as one of Singapore's must-see sights.

The STB and Urban Redevelopment Authority (URA) said the makeover will run into the millions but will cost less than the US$40 million facelift for Orchard Road.



The bulk of the costs will go towards infrastructural works.

The river enhancement project will be carried out in two phases, with the first expected to start in April and end in August, in time for the Formula One races Singapore is hosting in September.



It will see ambient lighting installed along the bridges, trees, river walls, boat landings, and staircases from Cavenagh Bridge to Clarke Quay.

These will include programmable lighting on bridges and underpasses, 'jellyfish' lights in the water, and even lit-river taxis.

Other improvements will include new signs and themed street furniture that will match each sub-precinct.

The second phase, to start in October and expected to be completed by March next year, will see similar improvements made to the area stretching from Robertson Quay to Kim Seng Bridge, near Zouk.

Cruise operators will also increase river taxi and cruise services along the river.

The STB will complement the 'hardware' with 'software', which will include a signature event - the Singapore River Festival - to be held from Sept 19 to 28 as a lead-up to the F1 season.

It will include a mega concert on the river, a river float parade, outdoor parties, art exhibitions, and food and beverage promotions.

The STB will work with stakeholders in Empress Place and Clarke Quay to develop their own themed events.

Source : Straits Times - 29 Feb 2008

Blueprint on sustainable development to be launched in 2009

Singapore's development into a vibrant and distinctive city will be done in a sustainable way.

And the newly-formed Inter-Ministerial Committee on Sustainable Development will be launching its blueprint on this next year.

National Development Minister Mah Bow Tan said this will provide a comprehensive road map of initiatives and measures to sustain Singapore's development for the next 10 years and beyond.

Mr Mah was speaking in Parliament on Thursday in response to questions from MPs on Singapore's sustainable development policies.

He also said the government is making plans to rejuvenate the Central Business District.

Land will be released around the Tanjong Pagar area and the Ophir/Rochor corridor will be developed into a vibrant office cluster.

But he stressed the Marina Bay Financial Centre will remain the centrepiece of Singapore's push for more economic growth.

Mr Mah said it will be a "seamless extension of Raffles Place, offering high-quality office spaces along a lively waterfront".

The area generated will be equivalent to two Canary Wharfs in London.

The new financial district is expected to take more than 15 years to materialise depending on demand.

And Mr Mah gave the assurance the government will continue to release land in a calibrated manner to meet such demand. - CNA/ch

Source : Channel NewsAsia - 28 Feb 2008

Chicago Business School to move to Tanglin Village

THE University of Chicago Graduate School of Business is to move from its Penang Road campus to a bigger site in Tanglin Village next year.

The school's Asian campus, set up here in 2000, plans to offer more classes and also services like career counselling.

Its Tanglin Village campus - the groundbreaking for which took place on Thursday - will have 18 study rooms, a student lounge and 29 offices and meeting rooms.

The school enrols about 90 students per intake for its executive MBA course; more than 1,000 others go through its executive programmes every year.

'The Chicago Graduate School of Business' decision to switch from renting space to building its own Asian campus strongly reflects its confidence in, and commitment to, Singapore,' said Economic Development Board chairman Lim Siong Guan at its groundbreaking ceremony.

Source : Straits Times - 29 Feb 2008