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     RegalInterior.com is the website of Regal Interior Pte Ltd. It provides residential and commercial interior design. It also provides free interior design quotation with no obligation, renovation loan, and excellent workmanship. Instalment available.

 

     AsiaBuilders.com provides comprehensive listings and product catalogues for the construction industry.

     BCIAsia.com is a one-stop online service for the construction industry. It is WAP-enabled.

     CreationStreet.com is a renovation portal which puts you in contact with renovation contractors, suppliers and designers. There's even an auction section as well as classifieds.

     HDBuilders.com is an online hub which facilitates and manages the whole spectrum of business processes in the construction industry. You can access information on tenders, HDB, classifieds as well as suppliers and contractors. 

     RegalInterior.com is the website of Regal Interior Pte Ltd. It provides residential and commercial interior design. It also provides free interior design quotation with no obligation, renovation loan, and excellent workmanship. Instalment available.

 

     NEWS SNIPPETS

     2007

 

New foreign workforce measures to meet strong market demand

With effect from 1 January 2008, the S Pass quota for all sectors will be increased from 15% to 25%. The new S Pass quota will come entirely from companies' Work Permit quota which will be increased for all sectors. Companies can therefore employ more S Pass holders, in lieu of Work Permit holders, hence improving the quality of their foreign workforce...
To strengthen our global talent attraction and retention efforts, refinements will be made to the PEP scheme. Foreign professionals whose last drawn fixed monthly salary overseas was at least S$7,000 will be eligible for a PEP. The PEP will also be granted to former P1 Employment Pass holders upon application.
These changes will take effect from 1 March 2008. Existing and new P1 pass holders working in Singapore that apply for the PEP ahead of the 2-year requirement will be accorded in-principle approval. They can apply to take up the PEP at the end of 2 years on their current P1 pass...

More.....

 

Outlook for Singapore economy in 2008

MTI forecasts the Singapore economy to grow by 4.5-6.5 per cent in 2008. This represents a moderation in growth towards the economy's underlying potential rate, following four years of above-trend growth.
The market consensus is that the US economy will slow down in the first half of 2008 as a result of weaker credit and housing markets before resuming healthy growth in the second half. This would support GDP growth in Singapore in the upper half of the 4.5-6.5 per cent forecast range...

More.....

 

Employment situation in 3rd Quarter 2007

Employment continued to grow strongly as the economy maintained its rapid expansion. Preliminary estimates show that employment grew by 57,600 in the third quarter of 2007...
Services continued to lead the employment gains, adding 34,500 workers in the third quarter of 2007. Manufacturing posted gains of 11,800. Driven by the growth in building activities, construction increased its workforce by 10,800, continuing the rapid increase of the previous quarter...

More.....

 

Singapore outlook for 2007 and 2008

Nonetheless, financial markets have rebounded recently and underlying economic conditions remain supportive. GDP growth is therefore on track to come in at the upper end of the 7-8% forecast range this year, up from the 4.5-6.5% forecast during the April review...
In the Singapore economy, growth will be led by non-IT manufacturing, construction and business services, which have built up a strong momentum and are more dependent on regional and domestic sources of demand as well as developments in specific product markets.
At this stage, our assessment is that the Singapore economy is likely to expand at a slower rate in 2008 than in the recent past, reflecting weaker global economic growth. Singapore’s GDP growth rate is expected to come in within its potential of 4-6% next year...

More.....

 

MAS issues revised property fund guidelines

The revised Guidelines are intended to improve safeguards for investors and to provide greater clarity and flexibility for commercial transactions...
MAS will amend the Securities and Futures Act (SFA) to include REIT management as a regulated activity...

More.....

 

Revision of Development Charge (DC)

"The DC was lowered from 70% to 50% in 1985 to avoid eroding the share of value enhancement that accrued to developers in a declining market.

"With the current buoyant property market, the converse is true. Thus, the Government has decided to reinstate the DC to its original rate at 70%..."

More.....

 

Advance GDP estimates for second quarter 2007

"Advance estimates1 show that real gross domestic product (GDP) rose by 8.2 per cent on a year-on-year basis in the second quarter, up from 6.4 per cent in the previous quarter...

"Underpinned by strong growth in the biomedical manufacturing and transport engineering clusters, the manufacturing sector is estimated to have grown by 10.2 per cent the second quarter, up from 4.4 per cent in the previous quarter..."

More.....

 

1st Quarter 2007 Real Estate Statistics

"Overall prices of private residential properties rose 4.8% in the 1st Quarter 2007, compared with the 3.8% increase in the previous quarter

"Prices of non-landed properties rose 5.3% in the 1st Quarter 2007, compared with the 4.3% increase in the previous quarter. Prices of apartments rose 5.1% while those of condominiums rose 5.4%..."

More.....

 

MAS and SGX to oversee corporate governance for listed companies

Oversight of corporate governance of listed companies will be transferred from the Council of Corporate Disclosure and Governance (CCDG)[1] to the Monetary Authority of Singapore (MAS) and the Singapore Exchange Ltd (SGX) with effect from 1 September 2007...
The Code of Corporate Governance will continue to be implemented through the SGX Listing Rules via the “comply or explain” approach[2], as is currently the practice...

More.....

 

$5.2 billion Resorts World at Sentosa slated to open in early 2010

"Resorts World at Sentosa will welcome some 10 million tourists, excluding local visitors, by 2015, generating S$15 billion in tourism receipts, half of Singapore’s target.
"Spending per diem on entertainment and sightseeing is expected to be more than six times higher than current spending levels...
"In anticipation of the increase in tourist traffic to Sentosa Island, Resorts World at Sentosa is also committed to significantly enhance the existing infrastructure of the island by building a new three-lane bridge, adjacent to the existing Sentosa Gateway Bridge...

More.....

     - 1,100 theft cases involving metals in 2006

 

Alcoholic beverages consumption in foreign workers' dormitories

"In a pilot test, Police has allowed beer to be sold in four dormitories1, and where the beer is then consumed at designated social areas inside the dormitories...
"Police is now conducting a review to assess if the sale and consumption of beer can be extended to other dormitories..."

More.....

 

 

Advance GDP estimates for 4th quarter 2006

3Q06

4Q06*

2006

Overall GDP

7.0

5.9

7.7

Goods Producing Industries

Manufacturing

9.5

7.3

11.4

Construction

2.6

2.4

1.1

Services Producing Industries

6.6

6.0

6.9

* Advance Estimates

More.....

     2006

     - 3rd Quarter 2006 real estate statistics

     - Survey shows manpower issues a growing concern for SMEs

     - Foreign Worker Levy and S-Pass quota to go up

 

Retrenchment & re-employment 2005

Amid favourable economic conditions, the incidence of retrenchment dropped to a twelve-year low in 2005...

The incidence of retrenchment for professionals, managers, executives & technicians (PMETs) dropped to an eight-year low of 8.0 per 1,000 and a thirteen-year low of 4.8 per 1,000 for clerical, sales & service workers...

In 2005, on average 61% of local2 retrenched workers found re-employment within 6 months of their retrenchment, slightly higher than 59% in 2004. The improvement was more pronounced for the better educated workers...

More.....

     - Advance GDP Estimates for First Quarter 2006

     - Singapore Labour Market 2005

     - Workplace Safety and Health Act replaces Factories Act

     2005

     - Performance of Singapore economy in 3rd quarter 2005

     - Key indicators on Singapore's Corporate Sector 1999-2003

     - Salary dispute resolved with Manpower Ministry's intervention

     - Performance of Singapore Economy in 2nd Quarter 2005

     - Performance of Singapore Economy in 1st Quarter 2005

     - Ministry of Manpower fine tunes foreign worker policy

     2004

Minister Mah speaks on recent construction site accidents

"However, we should view these incidents in perspective. Our construction safety record is good. According to MOM, the number of fatal construction accidents has dropped, from 72 in 1997 to 31 in 2003. Let us not speculate on the causes..."

More.....

     - Worksite accident in Ayer Rajah; 2 killed & 29 injured

     - Part of Nicoll Highway collapses; 2 killed & 1 missing

 

     2002

 

  Some tenants are not happy with a S$1.4 million package offered to businesses hit by the collapse of their flatted factory's corridors on Tuesday, saying that the offer barely covers their loss of revenue and the renovation work they must carry out if they take up alternative premises offered by developer JTC Corporation. (Straits Times 29 Aug 2002) (5)

  Five floors of concrete corridors collapsed at a JTC flatted factory in Toa Payoh North yesterday morning. No one was hurt. The service corridors were used as a fire escape and to hold the air-conditioning units. Developer JTC Corporation said that while its engineers had found the building to be structurally sound, it was arranging to relocate the 22 affected companies to its other flatted factories. (Straits Times 28 Aug 2002) (4)

  The Public Utilities Board (PUB) confirmed yesterday it had written to the Real Estate Development Association of Singapore, to inform it that developers will be required to provide a dedicated pipe system in all new commercial and industrial projects to accept Newater. For those locations where the Newater pipeline network will only be available after 2011, companies need to set aside space for when the new pipelines are laid. By January 2003, more than 68 million litres of Newater will be produced daily. It will go up to more than 250 million litres a day by 2012. (Straits Times 27 Aug 2002) (1)

  The Ministry of National Development (MND) yesterday revealed that since April 1999, private-sector architects have received 118 government projects worth S$1.3 billion. In contrast, the value of government projects undertaken by PWD Consultants  - the Public Works Department's consulting arm - fell from S$2 billion in 1998 to S$1.3 billion in 1999 and about S$1.4 billion in 2000 and 2001. (Straits Times 25 Jun 2002) (4)

  Starting 24 Jun 2002, property developers can submit their building progress reports and even apply for an extension of their construction schedule via the Internet. These are some of the 14 new online services which will be launched by the Urban Redevelopment Authority (URA) on its website, www.ura.gov.sg today. (Straits Times 24 Jun 2002) (A19)

  The Consumers Association of Singapore (Case) received close to 1,800 complaints in 2001 about contractors reneging on their contracts and leaving work undone - compared to 1,291 the year before. Timeshare companies accounted for 1,256 complaints in 2001.(Straits Times 1 Mar 2002)(H1)

     2001

  The size of mandatory bomb shelters in each housing unit will be reduced by about 12 to 15 per cent following amendments to the construction laws approved in April this year. Since May 1998, when the Civil Defence Shelter Act was introduced, developers have had to build a shelter - or concrete-reinforced "storeroom" - in each house in Singapore, including Housing Board flats. There are now 87,000 such shelters in HDB estates and about 1,000 in private estates. (Straits Times 16 Nov 2001)(H1) 

  New noise rules that stop piling, blasting, demolishing and concreting works from being carried out between 7pm and 7am came into effect on Monday, but will affect only new projects, and not ongoing ones, said the Environment Ministry (ENV). It told The Straits Times that his was because the new limits could affect completion time. The move by the ENV came after complaints from residents about noisy construction sites shot up to 33 per week last year, up from just 21 per week in 1999. The new limits allow only quiet work, such as bricklaying, plastering and painting, to be carried out between 10pm and 7am. (Straits Times 6 Oct 2001)(H6)

 

GG Not. No. 2363 dated 31 Aug 2001

ARCHITECTS ACT (CHAPTER 12)
It is hereby notified for general information that the registration of Mr George Chen Tsai Fang as a registered architect is cancelled with effect from 1st September 2001 under Section 27 of the Architects Act.

  Unscrupulous contractors are once again conning unwary Housing Board residents into making unnecessary repairs. Posing as HDB contractors, they pressure their victims into paying up to S$1,000 for new doors, grilles, pipes and rubbish-chute covers. Instead of asking residents whether they want the repairs, some of the contractors will tell them it is compulsory for them to replace these items. While the culprits do not carry official passes, they usually produce documents which have HDB-lookalike logos. The HDb advises residents to ignore such touts, or take down the company's particulars. They should file a police report if they have been intimidated or harrassed. (Straits Times 23 Jul 2001)(H1)

  Firms will be able to submit their building plans online under a new system. Instead of submitting them separately to 13 government departments for the necessary approvals, the new system means they need send the plans to only one place. The plans will be routed automatically to all the agencies. Called One-Stop Submission Centre, the S$7.7-million system will involve 30 building firms here initially, in a pilot scheme which begins next month. By November 2001, all Singapore's 1,800 professional engineers and architects will be able to start using the e-system. (Straits Times 16 Jul 2001)(H5)

  Prime Minister GOH Chok Tong yesterday said the Government would let balconies be built over and above the set plot ratio "to give the building occupants the opportunity to create their personal garden in the sky". Developers will get extra space - one-tenth of the maximum plot ratio - solely for balconies. The plot ratio is the amount of covered floor area in a building relative to the entire site area. Developers will still pay for the space - from about S$1,000 to S$5,000 per sq m, depending on location. (Straits Times 27 Jun 2001)

GG Not. No. 1169 dated 30 Apr 2001 

PROFESSIONAL ENGINEERS ACT (CHAPTER 253)
It is hereby notified for general information that under section 27(1)(e) of the Professional Engineers Act, Mr Wan Shung Ming will be suspended from practice as a professional engineer for a period of twelve months with effect from 1st May 2001.
[PEB/AAR/2-58]

 

     2000

  The Government will release land for an additional 6000 to 7000 private-property units next year - less than the land for 9000 units which was put on the market this year.  A quarter of the new units will be built as executive 

 

condominiums, said the Ministry of National Development on 28 Nov 2000. This is to ensure that the supply of homes is kept at a moderate level. (Straits Times 29 Nov 2000)

  People renovating their homes can now buy an insurance plan which insures homeowners against errant contractors. NTUC Income's Renovation policy, launched on 20 Oct 2000, sets a premium of 1 per cent on total renovation costs. Policyholders will be covered for the length of the contract and for another six months against defects, such as warping of carpentry works, discoloration of building materials and cracks in tiles. But homeowners taking the policy must engage contractors, selected by Income, who are reputed for their good work.

     HDB relaxes guidelines for renovation works