Live in the heart of it all

Step into a world that bings you the beat of waterfront living. Live and be seen at the centre of it all - Tribeca by the waterfront.

Imagine your own private oasis in the heart of the city. A lush paradise inspired by clean lines and distinctive facade, realizing a perfect blend of modernity and natural serenity. A magnificient freehold property, Tribeca by the waterfront offers you the opportunity to experience riverside living at its finest. Here, the choices are always yours to make - bask in the peaceful sanctity of modern refinement and pristine greenery, or move to the rhythm and pulse of the city.

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Govt looking at ways to help local firms grow and develop new leaders

(SINGAPORE) Construction companies took the three top spots in this year’s Enterprise 50 (E50) awards, carried by bumper contracts secured before the recession hit.

At the top is infrastructure and civil engineering firm Samwoh Corp, which was placed ninth last year. It was founded 30 years ago by three lorry drivers and now has a range of businesses that spans civil engineering, recycling of construction wastes, and even consultancy.

In second and third place respectively are Ryobi Kiso (S) Pte Ltd and Sin Heng Heavy Machinery Pte Ltd - both first-time winners of the E50 Awards.

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It could be S’pore’s largest IPO since SingTel; pricing aggressive, but take-up may be healthy

SINGAPORE) CapitaLand is seeking up to $2.78 billion from the listing of its retail arm CapitaMalls Asia (CMA). Some 1.165 billion shares are being offered at $1.98 to $2.39 apiece, according to e-mails sent to potential investors seen by BT.

This means that CapitaLand could raise between $2.31 billion and $2.78 billion. The developer intends to float 30 per cent of CMA.

If the pricing is achieved, CMA’s initial public offering (IPO) will be the largest so far this year. According to data tracked by Bloomberg, the 17 share sales in Singapore this year have raised an average $17.3 million.

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WHEELOCK Properties (Singapore) CEO David Lawrence remains upbeat about prospects for Singapore’s luxury residential property market, as the island is increasingly attracting rich people and businesses.

‘The interesting thing is that more and more people are becoming PRs and citizens,’ he says. ‘A lot of them are very rich and want the best product. So you’ve got to be a good developer producing good products like Wheelock or SC Global or Hotel Properties Ltd (HPL).’

Wheelock owns about 16 per cent of SC Global and almost 21 per cent of HPL. ‘We’re happy with our stakes in these companies,’ Mr Lawrence said in a recent interview with BT.

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New York stays clear favourite in global survey of investor choice

SINGAPORE has emerged as the second leading global financial centre after New York.

While New York has withstood the worst economic crisis in seven decades, London slipped behind Singapore as investors’ preferred place for doing business, according to a global survey.

Some 29 per cent of respondents in the quarterly Bloomberg Global Poll of investors, traders and analysts say that New York will be the best place for financial services two years from now. ‘Despite the carnage of 2008, I still expect the ‘new new’ thing in financial services to be developed and nurtured here (New York), and ultimately exported to the world,’ says Peter Rup, a fund manager at Artemis Wealth Advisors in New York.

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Capitalisation dips just 1.8% in stark reversal from October 2008

FEARS of another black October have turned out to be largely unfounded. The capitalisation of the Singapore stock market declined a mere 1.8 per cent at end-October to $633.1 billion, from $641.7 billion a month ago.

The latest October scorecard marks a stark reversal of fortunes from this time last year when $123.5 billion was wiped off the Singapore stock market as companies around the world were mired in a deep economic recession.

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More expect business conditions to be more favourable in next 6 months: EDB survey

BUSINESS sentiment for both the manufacturing and service sectors has improved further, yesterday’s release of findings from official surveys showed.

Among manufacturers, the number of optimistic companies exceeded pessimistic ones, yielding a net weighted balance of 9 per cent who now expect business conditions to be more favourable in the next six months.

It is the most positive that this gauge of business sentiment - derived from a survey of 400 companies by the Economic Development Board - has been since the third quarter of 2007.

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THE jobless rate is up, even though the economy is on the mend and churning out more jobs. The seasonally adjusted unemployment rate edged up to 3.4 per cent in September, from 3.3 per cent in June, according to a preliminary report released yesterday by the Ministry of Manpower (MOM).

But total employment jumped 15,400 in the three months ended September, after losses in the two preceding quarters.

So while jobs came back in Q3, more members of the working population were out of work by end-September - due to more people looking for jobs in a recovering economy, after taking a break.

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Hong Leong Holdings, after having recently won a site along Serangoon Avenue 3 in a hotly contested government tender, said that it is planning to build a unique project on the site with over 400 units.

The developer is now completing the project plan and said that it will be “cutting edge” in concept and design. The units planned for this project will be built according to the buyers’ needs, said Quek Kon Hui, executive of Hong Leong Holdings.

Hong Leong Holdings acquired the 99-year leasehold site in October in a tender by the URA. It placed the leading bid of $529 per sq ft of gross floor area for a total of $221 million.

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The Marina Bay Financial Centre mega project worth S$4-billion will push through despite the global financial downturn. In one year, phase one of Marina Bay Link Mall will be launched and ready for operation with tenants occupying the offices above.

Raffles Quay Asset Management (RQAM) revealed that the 176,000-square-foot mall will become a place to “Shop, Dine and Play.” The company said the response rate for the said project has been quite positive.

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