《联合早报》Nov 23, 2007
继四美4街后，又有一幅私宅地段被发展商从备售名单中“勾”出来。市区重建局昨天发表的文告说，这幅位于亚历山大路（Alexandra Rd）的地段，已有发展商承诺以至少2亿2070万元，即容积率每平方英尺489元来投标。
市建局已经接受了这份投标书，因此会在大约两个星期内将有关地段推出市场正式招标。
这幅99年地契的私宅地段，占地0.86公顷，可建筑楼面约45万平方英尺。这意味着发展商能够兴建350至400个中型共管公寓单位。
它相当靠近红山地铁站，对面就是东陵景（Tanglin View）和东陵丽晶园（Tanglin Regency），旁边则是The Metropolitan。目前，这三栋共管公寓的成交价格介于每平方英尺850元至1100元。
Friday, November 23, 2007
许氏兄弟收购两商用地
《联合早报》Nov 23, 2007
许兄弟（Koh Brothers）以1960万元的总价格，收购分别位于武吉知马路和樟宜路的两块商业用地。
许兄弟通过独资子公司Kosland，以约1330万元收购位于武吉知马路383号的地皮。这块地属于永久地契，分层面积（strata area）为1万3498平方英尺，介于罗彬通道和罗彬巷之间，并位于集团所拥有的Alocassia公寓旁边。
许兄弟集团董事经理许庆祥说，公司有意将两幅地段合并起来一起发展：“这项收购完成后，整片地段将有潜能发展为一个全套的住宅项目，取得更高的效益。”
武吉知马路383号和Alocassia公寓加起来，总占地面积为4万4863平方英尺，容积率为1.4。它最高可建五层楼的房屋，总建筑楼面至多是6万2808平方英尺。
该集团也通过独资子公司许兄弟投资，以约630万元收购了樟宜酒店（Changi Hotel）隔壁的一块永久地契地皮。这块位于樟宜路80号的地段，分层面积为7997平方英尺，占地面积为2万6433平方英尺。它可被发展成酒店和商业用途的综合项目，具体重新发展计划将在不久后宣布。
许庆祥相信，这两项收购将会加强集团原先两个项目的潜在价值。它们不会对2007财年的业绩产生重要影响。
许兄弟（Koh Brothers）以1960万元的总价格，收购分别位于武吉知马路和樟宜路的两块商业用地。
许兄弟通过独资子公司Kosland，以约1330万元收购位于武吉知马路383号的地皮。这块地属于永久地契，分层面积（strata area）为1万3498平方英尺，介于罗彬通道和罗彬巷之间，并位于集团所拥有的Alocassia公寓旁边。
许兄弟集团董事经理许庆祥说，公司有意将两幅地段合并起来一起发展：“这项收购完成后，整片地段将有潜能发展为一个全套的住宅项目，取得更高的效益。”
武吉知马路383号和Alocassia公寓加起来，总占地面积为4万4863平方英尺，容积率为1.4。它最高可建五层楼的房屋，总建筑楼面至多是6万2808平方英尺。
该集团也通过独资子公司许兄弟投资，以约630万元收购了樟宜酒店（Changi Hotel）隔壁的一块永久地契地皮。这块位于樟宜路80号的地段，分层面积为7997平方英尺，占地面积为2万6433平方英尺。它可被发展成酒店和商业用途的综合项目，具体重新发展计划将在不久后宣布。
许庆祥相信，这两项收购将会加强集团原先两个项目的潜在价值。它们不会对2007财年的业绩产生重要影响。
Four Strata Floors In The Arcade For Sale
Source : TODAY, Friday, November 23, 2007
Four strata floors of commercial space in The Arcade (picture) were put up for sale yesterday by private owners amid an ongoing office supply crunch.
CB Richard Ellis (CBRE) and Jones Lang LaSalle (JLL), joint managers of the sale, are advising owners on the sale — by expression of interest — of approximately 32,120 sq m in strata area of the building.
According to CBRE and JLL, steady rentals can be expected in the short to medium term. The lease profile shows that 60 per cent of current leases will expire next year, suggesting rents could be renewed at substantially higher levels under the current tight market.
In the long term, property owners may also explore redevelopment options to maximise a potential plot ratio of 13.86, with current plot ratio at about 8.
The units in the 20-storey building in Raffles Place are a mixture of 999-year and 99-year leases. The mixed commercial and retail building consists of an office tower and three-storey retail podium with a total net lettable area of about 118,317 square feet.
Mr Colin Tan, head of consultancy and research at Chesterton International, said office prices had softened somewhat as evidenced in the recent land sales in the Marina View site.
Last week, Macquarie Global Property Advisors put in the winning bid of $779 psf per plot ratio for Land Parcel B in Marina View — about 45 per cent lower than the $1,409 psf bid it put in in September for an adjacent plot, also meant largely for office use.
“The Government has also been pushing out former government property for conversion into transitional office use. So, in the short term, the office market may be still tight, but in the medium term, it’ll definitely ease,” said Mr Tan.
The expression of interest exercise will close at 4pm on Dec 7.
Four strata floors of commercial space in The Arcade (picture) were put up for sale yesterday by private owners amid an ongoing office supply crunch.
CB Richard Ellis (CBRE) and Jones Lang LaSalle (JLL), joint managers of the sale, are advising owners on the sale — by expression of interest — of approximately 32,120 sq m in strata area of the building.
According to CBRE and JLL, steady rentals can be expected in the short to medium term. The lease profile shows that 60 per cent of current leases will expire next year, suggesting rents could be renewed at substantially higher levels under the current tight market.
In the long term, property owners may also explore redevelopment options to maximise a potential plot ratio of 13.86, with current plot ratio at about 8.
The units in the 20-storey building in Raffles Place are a mixture of 999-year and 99-year leases. The mixed commercial and retail building consists of an office tower and three-storey retail podium with a total net lettable area of about 118,317 square feet.
Mr Colin Tan, head of consultancy and research at Chesterton International, said office prices had softened somewhat as evidenced in the recent land sales in the Marina View site.
Last week, Macquarie Global Property Advisors put in the winning bid of $779 psf per plot ratio for Land Parcel B in Marina View — about 45 per cent lower than the $1,409 psf bid it put in in September for an adjacent plot, also meant largely for office use.
“The Government has also been pushing out former government property for conversion into transitional office use. So, in the short term, the office market may be still tight, but in the medium term, it’ll definitely ease,” said Mr Tan.
The expression of interest exercise will close at 4pm on Dec 7.
Sunday Lessons From A CEO Get Wider Play
Source : The Business Times, November 23, 2007
So why did CapitaLand decide to sell the Raffles Hotel business despite its sentimental value? The answer, which chief executive Liew Mun Leong shared with his entire staff, was straightforward.
Read all about it: Mr Liew presenting a copy of Building People: Sunday Emails from a CEO to guest-of-honour President SR Nathan yesterday
'As a business, particularly as a public-listed company, we cannot make business investment or divestment decisions based on sentimental values or emotions,' he said in an e-mail message in July 2005 titled 'Shareholders invest money in us, not emotions'.
'This transaction would make a profit of S$605 million. We would indeed be irresponsible towards our shareholders if we had chosen to forgo this huge gain.'
For almost a decade, he has candidly been sharing his thoughts on various issues with his employees through a series of e-mail messages that he writes mostly on Sundays. These have now been compiled into a book, Building People: Sunday Emails from a CEO, which was launched by CapitaLand yesterday.
'I did not set out to write a book,' he said to laughter at the launch. 'I have to vigorously dispel the wrong signal that the CEO of CapitaLand has a lot of time on his hands.'
The e-mail messages, he said, were written because they were the fastest and cheapest way to communicate with CapitaLand's 9,000 employees scattered across 104 cities in more than 20 countries in the Asia-Pacific, Europe and the Middle East.
Through e-mail, Mr Liew shared his insights and management philosophy, as well as observations from his business travels.
Some of the messages have caused a stir. 'Who Stole Our Cheese?', for example, was written after developer CapitaLand lost the Marina Bay integrated resort bid. In the brutally honest piece, Mr Liew says CapitaLand made the 'killer mistake' of not identifying the meetings, incentives, conventions and exhibitions business as one the government was keen to grow.
In other messages, he is more philosophical. In one, he relates the story of a blind 75-year-old English man who still plays golf, urging his employees to not 'give up easily on life, even when the most difficult times hit'.
Mr Liew also shares his experience as a young man on his first day on the job, when an envelope containing a large amount of money appeared mysteriously on his desk. He asked people around the office, offering to return the money to its rightful owner. Only later did he discover that the envelope had been planted by his boss to test his integrity!
Using this to illustrate CapitaLand's approach in the property development industry where opportunities abound for kickbacks, he says: 'If we have to bribe, we won't do this business.'
The e-mail messages appear to be a tool to explain, reflect and impart the company's values to the staff.
ln line with Mr Liew's aim of people development, CapitaLand yesterday officially opened its own learning and development campus on Sentosa, called the CapitaLand Institute of Management & Business (Climb).
The institute, which was started in June 2006, has conducted more than 60 programmes for more than 1,450 participants. With the official opening, the institute is expected to train about 5,000 existing and future CapitaLand employees by 2010.
CapitaLand has spent at least $10 million to convert its Sentosa building, which used to house the former Rare Stone Museum.
'Setting up Climb is the best investment for us,' said Mr Liew. 'It is investing in our people, our future.'
It was in this same spirit that he agreed to have his e-mail messages compiled into a book, he said. The book will be used as teaching tool at Climb and will be available to all staff.
So why did CapitaLand decide to sell the Raffles Hotel business despite its sentimental value? The answer, which chief executive Liew Mun Leong shared with his entire staff, was straightforward.
Read all about it: Mr Liew presenting a copy of Building People: Sunday Emails from a CEO to guest-of-honour President SR Nathan yesterday'As a business, particularly as a public-listed company, we cannot make business investment or divestment decisions based on sentimental values or emotions,' he said in an e-mail message in July 2005 titled 'Shareholders invest money in us, not emotions'.
'This transaction would make a profit of S$605 million. We would indeed be irresponsible towards our shareholders if we had chosen to forgo this huge gain.'
For almost a decade, he has candidly been sharing his thoughts on various issues with his employees through a series of e-mail messages that he writes mostly on Sundays. These have now been compiled into a book, Building People: Sunday Emails from a CEO, which was launched by CapitaLand yesterday.
'I did not set out to write a book,' he said to laughter at the launch. 'I have to vigorously dispel the wrong signal that the CEO of CapitaLand has a lot of time on his hands.'
The e-mail messages, he said, were written because they were the fastest and cheapest way to communicate with CapitaLand's 9,000 employees scattered across 104 cities in more than 20 countries in the Asia-Pacific, Europe and the Middle East.
Through e-mail, Mr Liew shared his insights and management philosophy, as well as observations from his business travels.
Some of the messages have caused a stir. 'Who Stole Our Cheese?', for example, was written after developer CapitaLand lost the Marina Bay integrated resort bid. In the brutally honest piece, Mr Liew says CapitaLand made the 'killer mistake' of not identifying the meetings, incentives, conventions and exhibitions business as one the government was keen to grow.
In other messages, he is more philosophical. In one, he relates the story of a blind 75-year-old English man who still plays golf, urging his employees to not 'give up easily on life, even when the most difficult times hit'.
Mr Liew also shares his experience as a young man on his first day on the job, when an envelope containing a large amount of money appeared mysteriously on his desk. He asked people around the office, offering to return the money to its rightful owner. Only later did he discover that the envelope had been planted by his boss to test his integrity!
Using this to illustrate CapitaLand's approach in the property development industry where opportunities abound for kickbacks, he says: 'If we have to bribe, we won't do this business.'
The e-mail messages appear to be a tool to explain, reflect and impart the company's values to the staff.
ln line with Mr Liew's aim of people development, CapitaLand yesterday officially opened its own learning and development campus on Sentosa, called the CapitaLand Institute of Management & Business (Climb).
The institute, which was started in June 2006, has conducted more than 60 programmes for more than 1,450 participants. With the official opening, the institute is expected to train about 5,000 existing and future CapitaLand employees by 2010.
CapitaLand has spent at least $10 million to convert its Sentosa building, which used to house the former Rare Stone Museum.
'Setting up Climb is the best investment for us,' said Mr Liew. 'It is investing in our people, our future.'
It was in this same spirit that he agreed to have his e-mail messages compiled into a book, he said. The book will be used as teaching tool at Climb and will be available to all staff.
4 Office Floors At The Arcade Put Up For Sale
Source : The Business Times, November 23, 2007
ALMOST 18 per cent of The Arcade at Raffles Place comprising four floors have been put up for sale through an expression of interest exercise, and the indicative price range is between $80 million and $90 million.
Rare opportunity: Based on the indicative price of $80 million-$90 million, the unit price for the 32,120 sq ft of space is between $2,500-$2,800 psf
Based on the indicative price, the unit price for the 32,120 sq ft of space is between $2,500-$2,800 psf.
CB Richard Ellis (CBRE) and Jones Lang LaSalle are advising the owners jointly on the divestment. CBRE added that the owners are Singaporean.
CBRE director (Investment Properties) Charles Hoon also said that the four strata-titled floors for sale represent a rare opportunity to own commercial space at Raffles Place because most of the office buildings in the area have single owners.
Mr Hoon did say that the original developer of The Arcade still owns about 30 per cent of the building so there is a potential to redevelop the site through a collective sale especially as the existing built-up gross floor plot reflects a plot ratio of about 8 but can be maximised to about 14.
The Arcade is a 20-storey mixed commercial and retail building comprising an office tower and a three-storey retail podium with a total net lettable area of about 118,317 sq ft.
The property is held on a mixture of 999-year and 99-year leasehold interests.
The current yield is about 2 per cent but Mr Hoon said that with leases expiring next year, rental appreciation can be expected.
The lease profile shows that 60 per cent of the current leases will expire in 2008 and the yield can be expected to increase to around 5 per cent.
Existing leases are tenanted out at around $9.20 psf.
Gains from capital appreciation are likely to be higher.
In Q3 2007, CBRE noted that average capital value for prime offices was estimated at $2,900 psf, reflecting an increase of 16 per cent quarter-on-quarter (QOQ) and 114.8 per cent year-on-year, while prime office yields were at 4.32 per cent, up slightly from 4.23 per cent QOQ.
The office sector is still seeing buoyant investment sales. In October, 12 floors at Springleaf Tower (near Tanjong Pagar MRT station) were sold for $225 million representing a unit price of around $2,000 psf.
In August, the entire Chevron House at Raffles Place was sold for $730 million or a record $2,780 psf of net lettable area.
ALMOST 18 per cent of The Arcade at Raffles Place comprising four floors have been put up for sale through an expression of interest exercise, and the indicative price range is between $80 million and $90 million.
Rare opportunity: Based on the indicative price of $80 million-$90 million, the unit price for the 32,120 sq ft of space is between $2,500-$2,800 psf Based on the indicative price, the unit price for the 32,120 sq ft of space is between $2,500-$2,800 psf.
CB Richard Ellis (CBRE) and Jones Lang LaSalle are advising the owners jointly on the divestment. CBRE added that the owners are Singaporean.
CBRE director (Investment Properties) Charles Hoon also said that the four strata-titled floors for sale represent a rare opportunity to own commercial space at Raffles Place because most of the office buildings in the area have single owners.
Mr Hoon did say that the original developer of The Arcade still owns about 30 per cent of the building so there is a potential to redevelop the site through a collective sale especially as the existing built-up gross floor plot reflects a plot ratio of about 8 but can be maximised to about 14.
The Arcade is a 20-storey mixed commercial and retail building comprising an office tower and a three-storey retail podium with a total net lettable area of about 118,317 sq ft.
The property is held on a mixture of 999-year and 99-year leasehold interests.
The current yield is about 2 per cent but Mr Hoon said that with leases expiring next year, rental appreciation can be expected.
The lease profile shows that 60 per cent of the current leases will expire in 2008 and the yield can be expected to increase to around 5 per cent.
Existing leases are tenanted out at around $9.20 psf.
Gains from capital appreciation are likely to be higher.
In Q3 2007, CBRE noted that average capital value for prime offices was estimated at $2,900 psf, reflecting an increase of 16 per cent quarter-on-quarter (QOQ) and 114.8 per cent year-on-year, while prime office yields were at 4.32 per cent, up slightly from 4.23 per cent QOQ.
The office sector is still seeing buoyant investment sales. In October, 12 floors at Springleaf Tower (near Tanjong Pagar MRT station) were sold for $225 million representing a unit price of around $2,000 psf.
In August, the entire Chevron House at Raffles Place was sold for $730 million or a record $2,780 psf of net lettable area.
Global Metal Prices Surge As Demand Exceeds Supply
Source : The Strait Times, Nov 23, 2007
SOARING world metal prices are having a shock and ore effect in Singapore, with manufacturers caught between a rock and a hard place, while canny investors sense a silver lining.
The rocketing gold price - up 26 per cent this year - has been hogging the headlines but copper, iron, silver, platinum and palladium have also been rising steadily, as demand continues to outstrip supply.
Manufacturing companies in Singapore are feeling the squeeze.
Mr James Wong, managing director of OE Manufacturing, said: 'Metal prices have affected our profit margin.'
OE Manufacturing, which makes hydraulic cylinders, mainly of steel, has resorted to buying semi-finished spare parts from lower-cost countries instead of just the raw material.
'Price increases in metals are much more than any offsets possible from productivity or efficiency gains in an already tight margin industry,' said Mr C.Y. Gan, managing director of Interplex Singapore, a custom metal manufacturer producing precision metal stampings.
But one man's pain can be another's gain with investors eyeing new opportunities - and safer places for their cash.
Mr Phillip Lai, head of commodity derivatives at Phillip Futures, said a combination of factors, including a weakening US dollar, inflationary pressures and terrorism threats, has bolstered the appeal of metal as an alternative investment to the greenback.
Platinum has long been touted as a better bet than gold, with looming supply shortages making it white-hot.
The metal, used to make catalytic converters in cars as well as a range of jewellery, has soared 29 per cent this year on the London Metal Exchange, outpacing gold's 26 per cent climb.
Gold and silver have both reached landmark levels in recent weeks; gold touched a record US$845.84 an ounce, while silver hit a 27-year-high of US$16.22 an ounce.
Local investors have generally favoured gold as a hedge against uncertainty. It is also easily traded, a key factor.
'Platinum investment is attractive from the standpoint of its shortage, but it is not easy to access it here as the market is not as sophisticated,' said the general manager of Standard Chartered's wealth management division, Mr Dennis Khoo.
He added that a platinum futures exchange-traded fund, similar to the Street Tracks Gold fund listed in Singapore, could be an option.
A major factor bolstering metals as an investment is the seemingly insatiable demand across the world. Emerging markets - especially industrialising powerhouses China and India - are driving demand.
Supply disruptions, with mining giants such as Rio Tinto battling rising costs and production delays at iron ore mines, are also putting pressure on price. Iron ore has trebled in the past five years and its price is set to soar by as much as 50 per cent next year.
Copper has trebled over the past five years and analysts expect the metal, mainly used in electrical conductors, to reach new highs next year.
Singapore firms are bracing themselves for more price pain. Mr Alan Tan, general manager of metal manufacturer CPM Pacific, said: 'Prices will increase down the road because energy costs continue to escalate.' He said his firm has responded by passing on the cost to its clients to cover the rise in production expenses.
SOARING world metal prices are having a shock and ore effect in Singapore, with manufacturers caught between a rock and a hard place, while canny investors sense a silver lining.
The rocketing gold price - up 26 per cent this year - has been hogging the headlines but copper, iron, silver, platinum and palladium have also been rising steadily, as demand continues to outstrip supply.
Manufacturing companies in Singapore are feeling the squeeze.
Mr James Wong, managing director of OE Manufacturing, said: 'Metal prices have affected our profit margin.'
OE Manufacturing, which makes hydraulic cylinders, mainly of steel, has resorted to buying semi-finished spare parts from lower-cost countries instead of just the raw material.
'Price increases in metals are much more than any offsets possible from productivity or efficiency gains in an already tight margin industry,' said Mr C.Y. Gan, managing director of Interplex Singapore, a custom metal manufacturer producing precision metal stampings.
But one man's pain can be another's gain with investors eyeing new opportunities - and safer places for their cash.
Mr Phillip Lai, head of commodity derivatives at Phillip Futures, said a combination of factors, including a weakening US dollar, inflationary pressures and terrorism threats, has bolstered the appeal of metal as an alternative investment to the greenback.
Platinum has long been touted as a better bet than gold, with looming supply shortages making it white-hot.
The metal, used to make catalytic converters in cars as well as a range of jewellery, has soared 29 per cent this year on the London Metal Exchange, outpacing gold's 26 per cent climb.
Gold and silver have both reached landmark levels in recent weeks; gold touched a record US$845.84 an ounce, while silver hit a 27-year-high of US$16.22 an ounce.
Local investors have generally favoured gold as a hedge against uncertainty. It is also easily traded, a key factor.
'Platinum investment is attractive from the standpoint of its shortage, but it is not easy to access it here as the market is not as sophisticated,' said the general manager of Standard Chartered's wealth management division, Mr Dennis Khoo.
He added that a platinum futures exchange-traded fund, similar to the Street Tracks Gold fund listed in Singapore, could be an option.
A major factor bolstering metals as an investment is the seemingly insatiable demand across the world. Emerging markets - especially industrialising powerhouses China and India - are driving demand.
Supply disruptions, with mining giants such as Rio Tinto battling rising costs and production delays at iron ore mines, are also putting pressure on price. Iron ore has trebled in the past five years and its price is set to soar by as much as 50 per cent next year.
Copper has trebled over the past five years and analysts expect the metal, mainly used in electrical conductors, to reach new highs next year.
Singapore firms are bracing themselves for more price pain. Mr Alan Tan, general manager of metal manufacturer CPM Pacific, said: 'Prices will increase down the road because energy costs continue to escalate.' He said his firm has responded by passing on the cost to its clients to cover the rise in production expenses.
Koh Brothers Buys 2 Petrol Station Sites
Source : The Strait Times, Nov 23, 2007
CONSTRUCTION and property development firm Koh Brothers Group yesterday paid $19.6 million to snap up two freehold petrol station sites, which are both next to properties it already owns.
The first - a 13,498 sq ft site in Bukit Timah Road costing $13.3 million - is adjacent to the group's freehold Alocassia Apartment site.
Koh Brothers bought Alocassia in May last year for $30 million. The site, first developed in 1996, had 45 service apartments and seven commercial units.
Once the two sites are combined, the listed firm will have a land area of 44,863 sq ft and a gross floor area of 62,808 sq ft. Koh Brothers said in a statement that it may develop a residential project on the combined land.
The second site it bought yesterday is a 26,433 sq ft commercial plot on Changi Road, which used to be a petrol station.
The group paid $6.3 million for the plot, which is next to its 61-room Changi Hotel that opened in 1994. It said that it may build an office building with shops on the ground floor.
On a per square foot basis, the Bukit Timah plot cost around $985 while the Changi Road site cost nearly $788.
Koh Brothers' last buy was in June, when it joined hands with three other developers to buy the freehold Lincoln Lodge site off Newton Road for $243 million.
CONSTRUCTION and property development firm Koh Brothers Group yesterday paid $19.6 million to snap up two freehold petrol station sites, which are both next to properties it already owns.
The first - a 13,498 sq ft site in Bukit Timah Road costing $13.3 million - is adjacent to the group's freehold Alocassia Apartment site.
Koh Brothers bought Alocassia in May last year for $30 million. The site, first developed in 1996, had 45 service apartments and seven commercial units.
Once the two sites are combined, the listed firm will have a land area of 44,863 sq ft and a gross floor area of 62,808 sq ft. Koh Brothers said in a statement that it may develop a residential project on the combined land.
The second site it bought yesterday is a 26,433 sq ft commercial plot on Changi Road, which used to be a petrol station.
The group paid $6.3 million for the plot, which is next to its 61-room Changi Hotel that opened in 1994. It said that it may build an office building with shops on the ground floor.
On a per square foot basis, the Bukit Timah plot cost around $985 while the Changi Road site cost nearly $788.
Koh Brothers' last buy was in June, when it joined hands with three other developers to buy the freehold Lincoln Lodge site off Newton Road for $243 million.
Are Our Buildings Safe?
Source : TODAY, Friday November 23, 2007
New NUS centre to study effects of natural disasters
OUR buildings may shake when earthquakes occur in the region, but it is "highly unlikely" they will fall. But would they be safe years down the road?
That is what the new Centre for Hazards Research at the National University of Singapore aims to find out.
Launched yesterday, the centre will study the short- and long-term effects of natural disasters on structures and infrastructure.
The centre's director, Associate Professor Lee Fook Hou, said: "I am pretty sure our buildings are safe now, but I can't assure you they will always be. The aim of our research is to reduce that margin of uncertainty."
Comprising 20 local and three foreign academics and researchers, the centre will start work on the impact of earth tremors because that is something "closest to our hearts", noted Assoc Prof Lee.
Through experiments and the investigation of data collected, the centre aims to develop new technologies to counter potential risks to the safety of structures.
"While natural hazards are inevitable, we can focus on using good science to prevent them from becoming disasters," said Assoc Prof Lee. "The idea is to find new ways to improve structures."
This would prove especially useful to companies looking to venture into earthquake-prone areas, he added. The centre will eventually move into research on other dangers such as typhoons and floods.
Another goal of the centre: To become an information and resource hub on natural disasters for Singapore and the region.
By providing "accurate and reliable answers" on why buildings behave the way they do during earthquakes, people here will be more knowledgeable about the effects of natural disasters and be in "a calmer state of mind because they know they are safe", said Assoc Prof Lee.
There are plans to launch a website to provide near real-time information when natural disasters occur, he added.
Several industry players have expressed interest in working with the centre by providing technological assistance or data.
New NUS centre to study effects of natural disasters
OUR buildings may shake when earthquakes occur in the region, but it is "highly unlikely" they will fall. But would they be safe years down the road?
That is what the new Centre for Hazards Research at the National University of Singapore aims to find out.
Launched yesterday, the centre will study the short- and long-term effects of natural disasters on structures and infrastructure.
The centre's director, Associate Professor Lee Fook Hou, said: "I am pretty sure our buildings are safe now, but I can't assure you they will always be. The aim of our research is to reduce that margin of uncertainty."
Comprising 20 local and three foreign academics and researchers, the centre will start work on the impact of earth tremors because that is something "closest to our hearts", noted Assoc Prof Lee.
Through experiments and the investigation of data collected, the centre aims to develop new technologies to counter potential risks to the safety of structures.
"While natural hazards are inevitable, we can focus on using good science to prevent them from becoming disasters," said Assoc Prof Lee. "The idea is to find new ways to improve structures."
This would prove especially useful to companies looking to venture into earthquake-prone areas, he added. The centre will eventually move into research on other dangers such as typhoons and floods.
Another goal of the centre: To become an information and resource hub on natural disasters for Singapore and the region.
By providing "accurate and reliable answers" on why buildings behave the way they do during earthquakes, people here will be more knowledgeable about the effects of natural disasters and be in "a calmer state of mind because they know they are safe", said Assoc Prof Lee.
There are plans to launch a website to provide near real-time information when natural disasters occur, he added.
Several industry players have expressed interest in working with the centre by providing technological assistance or data.
Lawyer And $37,555 Missing, Claims Client
Source : TODAY, Friday, November 23, 2007
A lawyer is alleged to have gone missing with $37,555 suspected to have been taken from a client's account.
The money allegedly came from a conveyancing transaction that Mr Zulkifli M Amin was handling for a couple selling a private property at Yio Chu Kang Road.
Ms Sharon Leong said she noticed something was amiss when she received a notice that the sale of their condominium apartment, due to go through on Nov 6, would be delayed by 10 days.
The couple had a deposit of $37,555 with the law firm, she said. When the sale went through last Friday, the cheque was returned to them. But when they tried to cash it this week, it bounced, she added.
Ms Leong said she called the law firm, Sadique Marican and ZM Amin Advocates and Solicitors, which said the amount would be returned. Yesterday, Ms Leong went down to its office at Raffles City. She claimed she was told that Mr Zulkifli, a partner, was missing and could not be contacted.
She made a police report last night. When contacted, a police spokesman told Today it was "inappropriate to comment on police investigations, if any".
The firm, a self-described "boutique practice", could not be reached for comment yesterday. According to its website, Mr Zulkifli's main role was head of the firm's conveyancing and real estate department, which has an annual turnover of "more than a million dollars", and he was "well respected" by peers.
Ms Leong, a bank officer, told Today that she and her husband had never met Mr Zulkifli. They had allegedly been introduced by the property agency handling the sale, which had acted as a middleman throughout the transaction. This was the couple's first sale of a private property.
Cases of lawyers vanishing with clients' money have made the news recently.
David Khong Siak Meng, in his 40s, allegedly skipped town in August with $68,000 after a conveyancing transaction he handled as the sole proprietor of a law firm. The Law Society is still investigating the case.
In June last year, David Rasif fled with more than $12 million of a client's funds. He was struck off the bar last week.
The case resulted in new rules that tightened the handling of clients' account by lawyers.
A lawyer is alleged to have gone missing with $37,555 suspected to have been taken from a client's account.
The money allegedly came from a conveyancing transaction that Mr Zulkifli M Amin was handling for a couple selling a private property at Yio Chu Kang Road.
Ms Sharon Leong said she noticed something was amiss when she received a notice that the sale of their condominium apartment, due to go through on Nov 6, would be delayed by 10 days.
The couple had a deposit of $37,555 with the law firm, she said. When the sale went through last Friday, the cheque was returned to them. But when they tried to cash it this week, it bounced, she added.
Ms Leong said she called the law firm, Sadique Marican and ZM Amin Advocates and Solicitors, which said the amount would be returned. Yesterday, Ms Leong went down to its office at Raffles City. She claimed she was told that Mr Zulkifli, a partner, was missing and could not be contacted.
She made a police report last night. When contacted, a police spokesman told Today it was "inappropriate to comment on police investigations, if any".
The firm, a self-described "boutique practice", could not be reached for comment yesterday. According to its website, Mr Zulkifli's main role was head of the firm's conveyancing and real estate department, which has an annual turnover of "more than a million dollars", and he was "well respected" by peers.
Ms Leong, a bank officer, told Today that she and her husband had never met Mr Zulkifli. They had allegedly been introduced by the property agency handling the sale, which had acted as a middleman throughout the transaction. This was the couple's first sale of a private property.
Cases of lawyers vanishing with clients' money have made the news recently.
David Khong Siak Meng, in his 40s, allegedly skipped town in August with $68,000 after a conveyancing transaction he handled as the sole proprietor of a law firm. The Law Society is still investigating the case.
In June last year, David Rasif fled with more than $12 million of a client's funds. He was struck off the bar last week.
The case resulted in new rules that tightened the handling of clients' account by lawyers.
S'pore Needs More Energy-Efficient Buildings: Expert
Source : The Straits Times, Nov 23, 2007
ARCHITECTS yesterday said homes and buildings in Singapore could be much better designed for the steamy climate, but developers are just not asking for that type of architecture.
Cambridge University architecture professor Koen Steemers told an architectural conference in Singapore that local buildings are not built to minimise energy consumption.
He cited the example of single-glazed glass panels. These are used in many buildings in Singapore, but they absorb heat quickly while failing to maximise natural ventilation.
Professor Steemers found plenty of support among architects around town as well as those attending the international conference on Passive and Low Energy Architecture (Plea). Those who follow this discipline factor in climatic and environmental conditions when seeking to keep buildings comfortable.
RDC Architects director Rita Soh told The Straits Times that this type of architecture was once common in Singapore; it can be seen in older bungalows and shophouses that maximise the use of light and ventilation to fit the hot, humid conditions here. As Singapore grew more affluent, Western-looking buildings with glass facades and full air-conditioning became more popular.
Parliamentary Secretary for National Development Mohamad Maliki Osman told the conference, organised by the architecture department of the National University of Singapore (NUS), that maximising a building's efficiency has become even more important, given rising demand for energy and the soaring costs.
'Often, the most cost-effective strategy is to incorporate energy efficiency measures at the design stage of a facility. This is where incorporation of passive and low energy architecture is essential,' said Dr Maliki.
At Singapore's AIM & Associates, principal architect John Ting said it was 'timely' to revisit the passive architecture concept. Local architects are well-equipped to design such buildings, but developers have to commission them first, added Mr Ting.
Consumers are part of the equation as well: Developers build what homebuyers want, said Mr Chia Hock Jin, the executive director of the Real Estate Developers' Association of Singapore (Redas).
'We do realise that sustainability is becoming increasingly important,' said Mr Chia, adding that Redas recently formed a design committee to examine sustainability issues from the developers' perspective.
The Building and Construction Authority (BCA), which sponsored the conference, said about 70 buildings in Singapore have been awarded the Green Mark certification; 40 are awaiting assessment. The scheme, launched in 2005, rates buildings based on their environmental impact and energy efficiency.
Dr Stephen Wittkopf, an assistant professor at NUS' architecture department and the conference chairman, said the university plans to hold public seminars for construction industry players to promote the Plea concept, starting next year.
Mr Tai Lee Siang - the president of the Singapore Institute of Architects and a speaker at the three-day event, which is being held in South-east Asia for the first time - noted an encouraging trend where food and beverage outlets are making greater use of outdoor space.
'The momentum is only just about to kick in. We have to get rid of the mindset that sustainable architecture costs more. This is something that's got to change,' said Mr Tai.
The conference ends tomorrow.
ARCHITECTS yesterday said homes and buildings in Singapore could be much better designed for the steamy climate, but developers are just not asking for that type of architecture.
Cambridge University architecture professor Koen Steemers told an architectural conference in Singapore that local buildings are not built to minimise energy consumption.
He cited the example of single-glazed glass panels. These are used in many buildings in Singapore, but they absorb heat quickly while failing to maximise natural ventilation.
Professor Steemers found plenty of support among architects around town as well as those attending the international conference on Passive and Low Energy Architecture (Plea). Those who follow this discipline factor in climatic and environmental conditions when seeking to keep buildings comfortable.
RDC Architects director Rita Soh told The Straits Times that this type of architecture was once common in Singapore; it can be seen in older bungalows and shophouses that maximise the use of light and ventilation to fit the hot, humid conditions here. As Singapore grew more affluent, Western-looking buildings with glass facades and full air-conditioning became more popular.
Parliamentary Secretary for National Development Mohamad Maliki Osman told the conference, organised by the architecture department of the National University of Singapore (NUS), that maximising a building's efficiency has become even more important, given rising demand for energy and the soaring costs.
'Often, the most cost-effective strategy is to incorporate energy efficiency measures at the design stage of a facility. This is where incorporation of passive and low energy architecture is essential,' said Dr Maliki.
At Singapore's AIM & Associates, principal architect John Ting said it was 'timely' to revisit the passive architecture concept. Local architects are well-equipped to design such buildings, but developers have to commission them first, added Mr Ting.
Consumers are part of the equation as well: Developers build what homebuyers want, said Mr Chia Hock Jin, the executive director of the Real Estate Developers' Association of Singapore (Redas).
'We do realise that sustainability is becoming increasingly important,' said Mr Chia, adding that Redas recently formed a design committee to examine sustainability issues from the developers' perspective.
The Building and Construction Authority (BCA), which sponsored the conference, said about 70 buildings in Singapore have been awarded the Green Mark certification; 40 are awaiting assessment. The scheme, launched in 2005, rates buildings based on their environmental impact and energy efficiency.
Dr Stephen Wittkopf, an assistant professor at NUS' architecture department and the conference chairman, said the university plans to hold public seminars for construction industry players to promote the Plea concept, starting next year.
Mr Tai Lee Siang - the president of the Singapore Institute of Architects and a speaker at the three-day event, which is being held in South-east Asia for the first time - noted an encouraging trend where food and beverage outlets are making greater use of outdoor space.
'The momentum is only just about to kick in. We have to get rid of the mindset that sustainable architecture costs more. This is something that's got to change,' said Mr Tai.
The conference ends tomorrow.
Lawyer Goes Missing With Couple's $40,000
Source : The Straits Times, Nov 23, 2007
ANOTHER lawyer appears to have skipped town with a client's money. After a cheque for $40,000 from the law firm handling a couple's condominium sale bounced, the couple were told by the firm that Mr Zulkifli Amin, the lawyer handling the matter, could not be reached and that the money was missing.
Speaking to The Straits Times yesterday, Mrs Sharon Ang, 33, a bank officer, said the cheque was the last payment from the sale of their $1 million apartment in The Calrose Condo in Yio Chu Kang Road.
Another lawyer from the firm of Sadique Marican & ZM Amin at Raffles City told the couple yesterday afternoon that Mr Zulkifli had gone missing and the police had been notified.
It is understood the firm is assisting investigations.
Last night, Mrs Ang and her husband also lodged a police report on the missing funds.
She had never met Mr Zulkifli, who had been appointed by the real estate agent handling the sale. She said: 'I was always dealing with someone else who answered the calls on his behalf.'
A graduate of the National University of Singapore, Mr Zulkifli began practice seven years ago, starting out at Drew & Napier.
In November 2003, he set up his own firm focusing on insurance, conveyancing and matrimonial matters.
About eight months later, he teamed up with Mr Marican in their present firm, where he headed its conveyancing and real estate department.
According to the website of the firm, which has four lawyers, Mr Zulkifli oversees a department with an annual turnover of more than $1 million and he is 'well-respected among his peers and clients'.
Mr Zulkifli is the third lawyer in three months to have allegedly skipped town.
Two others disappeared in August and September with $68,000 and $32,000 respectively of their clients' money, also involving conveyancing transactions.
At least six other lawyers had pocketed money in earlier years. The biggest case to date - ex-lawyer David Rasif, who fled in June last year with more than $12 million of clients' funds.
ANOTHER lawyer appears to have skipped town with a client's money. After a cheque for $40,000 from the law firm handling a couple's condominium sale bounced, the couple were told by the firm that Mr Zulkifli Amin, the lawyer handling the matter, could not be reached and that the money was missing.
Speaking to The Straits Times yesterday, Mrs Sharon Ang, 33, a bank officer, said the cheque was the last payment from the sale of their $1 million apartment in The Calrose Condo in Yio Chu Kang Road.
Another lawyer from the firm of Sadique Marican & ZM Amin at Raffles City told the couple yesterday afternoon that Mr Zulkifli had gone missing and the police had been notified.
It is understood the firm is assisting investigations.
Last night, Mrs Ang and her husband also lodged a police report on the missing funds.
She had never met Mr Zulkifli, who had been appointed by the real estate agent handling the sale. She said: 'I was always dealing with someone else who answered the calls on his behalf.'
A graduate of the National University of Singapore, Mr Zulkifli began practice seven years ago, starting out at Drew & Napier.
In November 2003, he set up his own firm focusing on insurance, conveyancing and matrimonial matters.
About eight months later, he teamed up with Mr Marican in their present firm, where he headed its conveyancing and real estate department.
According to the website of the firm, which has four lawyers, Mr Zulkifli oversees a department with an annual turnover of more than $1 million and he is 'well-respected among his peers and clients'.
Mr Zulkifli is the third lawyer in three months to have allegedly skipped town.
Two others disappeared in August and September with $68,000 and $32,000 respectively of their clients' money, also involving conveyancing transactions.
At least six other lawyers had pocketed money in earlier years. The biggest case to date - ex-lawyer David Rasif, who fled in June last year with more than $12 million of clients' funds.
Road Closures Around Suntec City On Monday
Source : Channel NewsAsia, 22 November 2007
Several roads in the Suntec City area will be closed on Monday (November 26) due to security arrangements for this year's National Day Awards Investiture at Suntec Convention Centre.
The road closures will be in effect from 5pm to 11 pm. Public bus services will also be affected.
Police advise the public to use public transport to get to Suntec City or Marina Square.
Those driving to Marina Square using Nicoll Highway are advised to use Republic Avenue to go into Temasek Avenue.
Roads closed include one carriageway of Temasek Boulevard in the direction of the Fountain of Wealth between Raffles Boulevard and the roundabout.
The opposite carriageway of Temasek Boulevard from Rochor Road will remain open.
The left-most lane of Nicoll Highway heading towards the city between Suntec City Driveway and Raffles Boulevard and the left-most lane of Raffles Boulevard between Bras Basah Road and Temasek Boulevard will also be closed.
To alleviate congestion in the area, police may also close the stretch of Nicoll Highway heading towards the city between Middle Road and Bras Basah Road. - CNA/ac
Several roads in the Suntec City area will be closed on Monday (November 26) due to security arrangements for this year's National Day Awards Investiture at Suntec Convention Centre.
The road closures will be in effect from 5pm to 11 pm. Public bus services will also be affected. Police advise the public to use public transport to get to Suntec City or Marina Square.
Those driving to Marina Square using Nicoll Highway are advised to use Republic Avenue to go into Temasek Avenue.
Roads closed include one carriageway of Temasek Boulevard in the direction of the Fountain of Wealth between Raffles Boulevard and the roundabout.
The opposite carriageway of Temasek Boulevard from Rochor Road will remain open.
The left-most lane of Nicoll Highway heading towards the city between Suntec City Driveway and Raffles Boulevard and the left-most lane of Raffles Boulevard between Bras Basah Road and Temasek Boulevard will also be closed.
To alleviate congestion in the area, police may also close the stretch of Nicoll Highway heading towards the city between Middle Road and Bras Basah Road. - CNA/ac
Koh Brothers Buys 2 Shell Kiosks For $19.6m
Source : The Business Times, November 23, 2007
It aims to use one site for condo, other for hotel project
KOH Brothers has bought two petrol kiosks from Shell - one in Bukit Timah and the other in Changi - for close to $19.6 million.
The first site, at 383 Bukit Timah Road, is next to Koh Brothers' freehold serviced apartment complex, Alocassia Apartment. The site has a strata land area of 13,500 square feet and cost Koh Brothers $13.3 million.
Singapore-listed Koh Brothers bought Alocassia Apartment - a residential and commercial site - in May last year for $30 million.
The company intends to convert the whole site to full residential use and launch a luxury condominium with about 50 units in the third quarter of next year, chief executive Francis Koh told BT.
With the new acquisition, the entire freehold site covers 44,900 sq ft and has a 1.4 plot ratio. The latest purchase brings the price paid by Koh Brothers for the site to $799 per square foot (psf) per plot ratio, including an estimated development charge of $6.9 million.
Mr Koh estimates the project could break-even around $1,250 psf since the company does not plan to tear down the whole building. Luxury apartments in the Bukit Timah area now go for about $1,800-$2,000 psf.
'Given its prime location, freehold status, proximity to reputable schools and easy accessibility to the city centre, we are confident the site will appeal to home buyers who appreciate the exclusivity and prestige,' Mr Koh said.
The second site bought by the company - at 80 Changi Road - adjoins its freehold Changi Hotel.
Bought for $6.3 million, the site has a strata area of 8,000 sq ft. The entire freehold Changi Road site now has a total area of 26,400 sq ft.
Mr Koh said the company will look to build a newer, larger hotel on the combined site. Changi Hotel is now a three-storey, 61-room hotel.
Shell's general manager for retail, Henry Chu, said such sales allow the company to capitalise on the hot property market.
'The timing of closure and sale of these sites is a commercial decision and is to allow us to take advantage of the buoyant property market to maximise our returns,' he said.
It aims to use one site for condo, other for hotel project
KOH Brothers has bought two petrol kiosks from Shell - one in Bukit Timah and the other in Changi - for close to $19.6 million.
The first site, at 383 Bukit Timah Road, is next to Koh Brothers' freehold serviced apartment complex, Alocassia Apartment. The site has a strata land area of 13,500 square feet and cost Koh Brothers $13.3 million.
Singapore-listed Koh Brothers bought Alocassia Apartment - a residential and commercial site - in May last year for $30 million.
The company intends to convert the whole site to full residential use and launch a luxury condominium with about 50 units in the third quarter of next year, chief executive Francis Koh told BT.
With the new acquisition, the entire freehold site covers 44,900 sq ft and has a 1.4 plot ratio. The latest purchase brings the price paid by Koh Brothers for the site to $799 per square foot (psf) per plot ratio, including an estimated development charge of $6.9 million.
Mr Koh estimates the project could break-even around $1,250 psf since the company does not plan to tear down the whole building. Luxury apartments in the Bukit Timah area now go for about $1,800-$2,000 psf.
'Given its prime location, freehold status, proximity to reputable schools and easy accessibility to the city centre, we are confident the site will appeal to home buyers who appreciate the exclusivity and prestige,' Mr Koh said.
The second site bought by the company - at 80 Changi Road - adjoins its freehold Changi Hotel.
Bought for $6.3 million, the site has a strata area of 8,000 sq ft. The entire freehold Changi Road site now has a total area of 26,400 sq ft.
Mr Koh said the company will look to build a newer, larger hotel on the combined site. Changi Hotel is now a three-storey, 61-room hotel.
Shell's general manager for retail, Henry Chu, said such sales allow the company to capitalise on the hot property market.
'The timing of closure and sale of these sites is a commercial decision and is to allow us to take advantage of the buoyant property market to maximise our returns,' he said.
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