Singapore Still Top Choice Of MNCs For Regional Headquarters

Source : Channel NewsAsia, 09 November 2007

Singapore continues to be the top choice of multi-national corporations when it comes to locating their regional headquarters.

This is according to a survey by Spire Research and Consulting, which polled manufacturing companies based in the Asia-Pacific region.

But it says Singapore will need to evolve new strategies to maintain its position due to fierce competition.

The study found that more companies are starting to favour China, as well as Hong Kong.

China is also the most favoured manufacturing site of the future, followed by India.

Spire's survey covered more than 100 global companies in the Asia-Pacific region.

Six in ten respondents operate in at least three Asian economies, with nearly a third operating in seven or more. - CNA/ch

Phase 1 Of Singapore's Gardens By The Bay Project At Marina South To Be Completed By 2010.

Source : Channel NewsAsia, 09 November 2007

Singapore’s transformation from a “Garden City” into a “City in a Garden”, has begun with Friday’s ground breaking works at Marina South for phase one of the Gardens by the Bay project to build three waterfront gardens.

The first of the three Gardens is the 54 hectare Gardens at Marina South which is scheduled to be completed by end-2010, in line with the completion of the Marina Bay Integrated Resort and other developments at Marina Bay.

To commemorate the groundbreaking of the Gardens, National Development Minister Mah Bow Tan planted a Golden Rain Tree, a shade tree which will be one of many that will frame the boulevard bordering the East side of the Gardens at Marina South.

One of the key features of the garden designed by UK-based design firm Grant Associates, are the Cool Conservatories which will serve as architectural icons, horticultural attractions, and showcase sustainable energy technology. The two conservatories will apply a combination of the latest cooling technologies, so that the energy consumption for the “Cool Moist” Conservatory and “Cool Dry” Conservatory will be lower than that of a comparable commercial building in Singapore of similar size.

The Gardens by the Bay will also feature Plant Edutainment Gardens, a Flower Market, a Main Events Space and the Horticultural Show Gardens.

The 2.6 hectare Horticultural Show Gardens, will showcase the best of tropical horticulture and garden artistry. Together with another 10 hectares of mass flowering and coloured foliage landscape, they will form a spectacle of colour and texture. Among the attractions will be displays focusing on economically important plants in Singapore and Southeast Asia.

Another “wow” factor will be the SuperTrees which are tree-like structures that measure between nine and 16 storeys high. This vertical display of tropical flowering climbers, epiphytes and ferns will come alive at night with lighting and projected media while providing shade and shelter in our equatorial climate.

101 hectares of prime land by the water will be taken up by the Gardens by the Bay project which will feature on the western bank of the Marina Barrage, a 32 hectare development called the Gardens at Marina East. This will be the work of UK-based design firm Gustafson Porter and will create a more serene ambience with terraced water gardens that cascade down the Bay’s edge.

There’s been no master plan design awarded for the Gardens at Marina Centre as yet. The 15 hectare site, the smallest of the three plots, has a waterfront promenade stretching 2.8 kilometres.

Gardens BY The Bay Set To Bring In $1b Over Next 10 Years

Source : Channel NewsAsia, 09 November 2007

National Development Minister Mah Bow Tan on Friday unveiled details of a S$900 million plan to turn Marina South into a lush Eden.

Cool Moist Conservatory

At the groundbreaking ceremony, Mr Mah said the Gardens at Marina South is set to be a major tourist attraction, bringing in 2.7 million more visitors each year.

Tourism receipts are also expected to reach some S$1 billion over the next ten years, due to flagship events like the Singapore Garden Festival.

Gardens at Marina South is the first phase of a masterplan to create three of such gardens on prime waterfront land in the heart of the Central Business District, to help place Singapore in the same league as other global cities like New York and London.

Related Video Link - http://tinyurl.com/ywjo37
Gardens by the Bay set to bring in S$1b over next 10 years

Dr Tan Wee Kiat, Advisor to NParks, Project Director of Gardens by the Bay, said: "The other senses will come into play – smell, sound... and we will feature this in garden design, which is not often done in gardens in this part of the world. By nightfall, most of us just leave, but here we want people to stay."

Lion Grove (daytime)

Apart from 'Cooled Conservatories' where flora from cooler climates will be displayed, visitors can also expect to see some 'SuperTrees' – tall skeletal structures on which climbing plants will grow.

The Gardens will also be a showcase of energy-efficient technologies as water from the Bay will be recycled to be used in the park.

The 54-ha development, which is expected to be completed by 2010, will also have space for retail shops and events.

Mr Mah said the world-class city garden will add value to the surrounding real estate, but added that it is not all about numbers.

Overview of Gardens by the Bay site

He said: "I'm sure somebody would come up and say, 'Look, if you had put apartments and offices on this land, you would have created more value!' But is this what we want? Is this what Singapore is all about?"

The two other parks – one at Marina East and the other at Marina Centre – will be built at a later date.

A water-sports area will be built at Marina East, while a park will be incorporated into the Formula One circuit at Marina Centre. - CNA/so

Turbulent Time For Asian Markets Next Year: S&P

Source : The Straits Times, Nov 9, 2007

By AGENCE FRANCE-PRESSE

ASIAN stock markets face a difficult 2008 and could slide sharply, ratings agency Standard & Poor's (S&P) said yesterday, as regional share prices fell heavily.

'Next year will be a more difficult one for stock-market returns and we would not rule out the risk of a sharp correction,' Asia-Pacific equity research head Lorraine Tan said in a statement.

Asian equity markets have reached increasingly risky levels and there will be less scope for them to rise after this year's strong performance, the report added.

'Markets would be jittery over potential negative news, such as on inflation and further deterioration in the US and European economies,' said Ms Tan.

The United States is struggling with a credit crunch and housing market slowdown, after record defaults on sub-prime mortgages extended to homebuyers with riskier credit profiles.

The report said markets in Hong Kong, South Korea and Thailand were likely to deliver better relative performances next year, but Japan is set to do less well.

S&P also expects more ratings downgrades for the corporate sector next year due to rising costs and less readily available credit.

Mr Ian Thompson, the firm's chief credit officer for regional ratings services, said casualties were expected, especially outside the financial sector.

'There may be more ratings downgrades than upgrades among Asia-Pacific companies next year'.

That contrasted sharply with the general improvement in credit quality this year, he said in the statement.

S&P expects South-east Asian economies to grow on average by 6.4 per cent next year, with Indonesia and the Philippines seen as bright spots.

M'sia Hopes Pedra Branca Case Will Not Affect Ties With S'pore

Source : Channel NewsAsia, 08 November 2007

Malaysia hopes that the outcome of Pedra Branca case will not affect its bilateral relations with Singapore.

Malaysia’s Foreign Minister Syed Hamid Albar said Malaysia will leave it to the International Court of Justice to determine which country has the sovereign right to the island.

"We (Malaysia) have assembled a very good team of lawyers in order to present our case and I hope that we will give our best presentation to counter arguments tabled by the Singapore team," he told reporters at the sidelines of the United Malays National Organisation (UMNO) assembly. - CNA/ac