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New developments to share
- Thread starter wuqi256
- Start date
More Singaporeans might retire overseas (e.g. in JB) to stretch their life savings.
Singaporeans face serious retirement shortfall: Manulife
By Angela Tan [email protected]
Published October 30, 2013
Singaporeans face a major retirement funding shortfall, according to the latest Manulife Investor Sentiment Index, released on Wednesday.
"If they don't make major changes to their savings strategies and behavior, they face the prospect of having to work in so-called retirement and risk downgrading their lifestyles," the survey revealed.
Singapore investors responding to the survey expect to be in retirement for 18 years on average, but their estimated savings will last only 12 years, leaving a six-year gap.
In today's monetary terms, this amounts to a savings shortfall of S$250,000 per person on average, based on investors' own calculations. While most Singaporeans say they have started planning for retirement, 32 percent have not.
"The shortfall threatens the security and lifestyle of Singapore's workforce when they retire. In our view even those who have started planning are underestimating their needs. With life expectancy increasing, people should plan to have retirement savings to last at least 20 years," said Annette King, President and CEO of Manulife Singapore.
The survey, based on 3,500 interviews across seven Asia markets, also showed similar concerns in the region.
Many are leaving it too late and nearly half say they have no financial plan for their retirement at all. As a result, a large proportion of investors are relying on fall-back options, such as extending their working life or drawing on their children's support, which may not prove reliable.
Robert A. Cook, President and CEO of Manulife Financial in Asia, said: "For anyone leaving it until later in life to start planning for their retirement, making up the shortfall will become harder and harder. The reality is that, without a clear plan, it won't be alright on the night."
Asia investors on average expect to depend on retirement savings for an average of 19 years, but the amount they claim they will have saved by the time they retire will cover only 13 years -- a six-year shortfall.
In some markets the gap is even higher, rising to 13 years in Japan, where 71 percent of investors were not confident of being able to afford a desirable retirement, a sentiment shared by nearly a third of investors regionally.
"And since Asians are living longer and longer and commonly underestimate their longevity, it is highly likely that for many the retirement gap will end up being even greater,'' Manulife said.
Across the region an average 55 percent expect to continue in full-time or part-time work during so-called retirement. This response was even higher in Indonesia (68 percent) and Singapore (69 percent).
About one-in-five expect to rely on their children for financial support. This was particularly evident in Hong Kong (21 percent) and Malaysia (42 percent).
http://www.businesstimes.com.sg/bre...erious-retirement-shortfall-manulife-20131030
Singaporeans face serious retirement shortfall: Manulife
By Angela Tan [email protected]
Published October 30, 2013
Singaporeans face a major retirement funding shortfall, according to the latest Manulife Investor Sentiment Index, released on Wednesday.
"If they don't make major changes to their savings strategies and behavior, they face the prospect of having to work in so-called retirement and risk downgrading their lifestyles," the survey revealed.
Singapore investors responding to the survey expect to be in retirement for 18 years on average, but their estimated savings will last only 12 years, leaving a six-year gap.
In today's monetary terms, this amounts to a savings shortfall of S$250,000 per person on average, based on investors' own calculations. While most Singaporeans say they have started planning for retirement, 32 percent have not.
"The shortfall threatens the security and lifestyle of Singapore's workforce when they retire. In our view even those who have started planning are underestimating their needs. With life expectancy increasing, people should plan to have retirement savings to last at least 20 years," said Annette King, President and CEO of Manulife Singapore.
The survey, based on 3,500 interviews across seven Asia markets, also showed similar concerns in the region.
Many are leaving it too late and nearly half say they have no financial plan for their retirement at all. As a result, a large proportion of investors are relying on fall-back options, such as extending their working life or drawing on their children's support, which may not prove reliable.
Robert A. Cook, President and CEO of Manulife Financial in Asia, said: "For anyone leaving it until later in life to start planning for their retirement, making up the shortfall will become harder and harder. The reality is that, without a clear plan, it won't be alright on the night."
Asia investors on average expect to depend on retirement savings for an average of 19 years, but the amount they claim they will have saved by the time they retire will cover only 13 years -- a six-year shortfall.
In some markets the gap is even higher, rising to 13 years in Japan, where 71 percent of investors were not confident of being able to afford a desirable retirement, a sentiment shared by nearly a third of investors regionally.
"And since Asians are living longer and longer and commonly underestimate their longevity, it is highly likely that for many the retirement gap will end up being even greater,'' Manulife said.
Across the region an average 55 percent expect to continue in full-time or part-time work during so-called retirement. This response was even higher in Indonesia (68 percent) and Singapore (69 percent).
About one-in-five expect to rely on their children for financial support. This was particularly evident in Hong Kong (21 percent) and Malaysia (42 percent).
http://www.businesstimes.com.sg/bre...erious-retirement-shortfall-manulife-20131030
Restricting competitions and raising costs for Singaporeans...
S'pore set to lift moratorium on gas imports via pipeline
Published October 30, 2013
[SINGAPORE] Singapore is set to end a moratorium on new piped natural gas imports soon as robust initial demand for liquefied natural gas (LNG) has meant that most of the super-chilled fuel brought in via a new terminal has been taken up.
The city-state has prevented its four pipeline gas importers from signing new contracts until 2018, or when demand for LNG, shipped in by BG Group Plc, hits 3 million tonnes per year (tpy), whichever is earlier.
The freeze was put in place to ensure sufficient demand for the LNG. But BG's sales of the super-chilled fuel in Singapore have already touched 2.7 million tpy within just a few months of the start of a new US$1.4 billion terminal, indicating the 3-million-tpy mark is within sight.
The island nation is ready to review the moratorium once any of the two milestones are met, S. Iswaran, second minister for home affairs and trade and industry, said on Wednesday on the sidelines of the Singapore International Energy Week conference.
"BG is now at 2.7 (million tpy), so it depends when we breach that last component of about 10 percent more. Then we will be prepared to consider that," he said.
Currently, four companies - Gas Supply Pte Ltd, Sembcorp Gas Pte Ltd, Senoko Energy Ltd and Keppel Gas Ltd. - import natural gas by pipelines into Singapore.
Singapore aims to position itself as an LNG trading hub for Asia as it is located between producers such as Indonesia, Malaysia and Australia, and countries with growing demand such as China, India and Thailand.
Several global players, such as GDF Suez, BP and Statoil, have already set up LNG trading desks in the city-state over the last several years.
Singapore LNG Corp started commercial operations of its LNG terminal in May. The terminal has an initial capacity of 3.5 million tonnes per year (tpy) with two storage tanks.
Britain-based BG has a contract to supply 3 million tpy of LNG to the terminal. The gas is being supplied to industrial users and six power companies.
The terminal's capacity is being raised to 6 million tpy by the end of 2013 once a third storage tank, and additional jetties and regasification facilities, are added. A fourth tank will raise it further to 9 million tpy. - Reuters
http://www.businesstimes.com.sg/bre...lift-moratorium-gas-imports-pipeline-20131030
S'pore set to lift moratorium on gas imports via pipeline
Published October 30, 2013
[SINGAPORE] Singapore is set to end a moratorium on new piped natural gas imports soon as robust initial demand for liquefied natural gas (LNG) has meant that most of the super-chilled fuel brought in via a new terminal has been taken up.
The city-state has prevented its four pipeline gas importers from signing new contracts until 2018, or when demand for LNG, shipped in by BG Group Plc, hits 3 million tonnes per year (tpy), whichever is earlier.
The freeze was put in place to ensure sufficient demand for the LNG. But BG's sales of the super-chilled fuel in Singapore have already touched 2.7 million tpy within just a few months of the start of a new US$1.4 billion terminal, indicating the 3-million-tpy mark is within sight.
The island nation is ready to review the moratorium once any of the two milestones are met, S. Iswaran, second minister for home affairs and trade and industry, said on Wednesday on the sidelines of the Singapore International Energy Week conference.
"BG is now at 2.7 (million tpy), so it depends when we breach that last component of about 10 percent more. Then we will be prepared to consider that," he said.
Currently, four companies - Gas Supply Pte Ltd, Sembcorp Gas Pte Ltd, Senoko Energy Ltd and Keppel Gas Ltd. - import natural gas by pipelines into Singapore.
Singapore aims to position itself as an LNG trading hub for Asia as it is located between producers such as Indonesia, Malaysia and Australia, and countries with growing demand such as China, India and Thailand.
Several global players, such as GDF Suez, BP and Statoil, have already set up LNG trading desks in the city-state over the last several years.
Singapore LNG Corp started commercial operations of its LNG terminal in May. The terminal has an initial capacity of 3.5 million tonnes per year (tpy) with two storage tanks.
Britain-based BG has a contract to supply 3 million tpy of LNG to the terminal. The gas is being supplied to industrial users and six power companies.
The terminal's capacity is being raised to 6 million tpy by the end of 2013 once a third storage tank, and additional jetties and regasification facilities, are added. A fourth tank will raise it further to 9 million tpy. - Reuters
http://www.businesstimes.com.sg/bre...lift-moratorium-gas-imports-pipeline-20131030
New property curbs to affect Iskandar Malaysia
Oct 30, 2013 - PropertyGuru.com.my
The latest property cooling measures, like increasing the price limit of properties for foreign buyers from RM500,000 to RM1 million, will significantly affect Johor's Iskandar Malaysia area, according to RHB Research.
In fact, the 30 percent real property gains tax (RPGT) imposed on foreigners for sales made within the first five years, will curb short-term foreign speculation to a certain degree since the minimum five years' holding period will push them away.
With this, the Johor government will unlikely push through with the proposed four to five percent processing fee for foreigners, noted the research house.
“We see downside potential for valuations of some stocks, particularly those that are highly exposed to the Iskandar region and have high proportion of foreign buyers,” said RHB in its latest research note.
It believed that developers with high exposure to the Iskandar region will be most hit as the area has attracted a considerable number of foreigners over the last one to two years.
These developers include Sunway Bhd, UEM Sunrise Bhd, Mah Sing Group Bhd, SP Setia Bhd, Eastern & Oriental Bhd as well as IJM Land Bhd.
“Medini, in particular, which has no Bumiputera quota, will likely see a knee-jerk slowdown in property sales over the near term, as the market is now less lucrative compared with before,” it said.
“While there is still demand for some attractive projects compared to a simple buying decision previously, potential foreign buyers will now think twice before purchasing properties in Malaysia.”
Notably, foreign acquisitions made up 54 percent of Nusajaya's overall high-rise residential sales (sales by developers) and 39 percent in Johor Bahru and major suburbs, said CBRE.
Meanwhile, RHB forecasts healthy growth in Penang mainland, as genuine buyers primarily drive local property demand.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...ew-property-curbs-to-affect-iskandar-malaysia
Oct 30, 2013 - PropertyGuru.com.my
The latest property cooling measures, like increasing the price limit of properties for foreign buyers from RM500,000 to RM1 million, will significantly affect Johor's Iskandar Malaysia area, according to RHB Research.
In fact, the 30 percent real property gains tax (RPGT) imposed on foreigners for sales made within the first five years, will curb short-term foreign speculation to a certain degree since the minimum five years' holding period will push them away.
With this, the Johor government will unlikely push through with the proposed four to five percent processing fee for foreigners, noted the research house.
“We see downside potential for valuations of some stocks, particularly those that are highly exposed to the Iskandar region and have high proportion of foreign buyers,” said RHB in its latest research note.
It believed that developers with high exposure to the Iskandar region will be most hit as the area has attracted a considerable number of foreigners over the last one to two years.
These developers include Sunway Bhd, UEM Sunrise Bhd, Mah Sing Group Bhd, SP Setia Bhd, Eastern & Oriental Bhd as well as IJM Land Bhd.
“Medini, in particular, which has no Bumiputera quota, will likely see a knee-jerk slowdown in property sales over the near term, as the market is now less lucrative compared with before,” it said.
“While there is still demand for some attractive projects compared to a simple buying decision previously, potential foreign buyers will now think twice before purchasing properties in Malaysia.”
Notably, foreign acquisitions made up 54 percent of Nusajaya's overall high-rise residential sales (sales by developers) and 39 percent in Johor Bahru and major suburbs, said CBRE.
Meanwhile, RHB forecasts healthy growth in Penang mainland, as genuine buyers primarily drive local property demand.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...ew-property-curbs-to-affect-iskandar-malaysia
The super fast one is what I heard is like using "runners" where elbow grease is used .....I am not involved so cannot comment too much.
Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
Take a look
http://www.sunwayproperty.com/pd/lenang.asp
Take a look
http://www.sunwayproperty.com/pd/lenang.asp
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
Show-house ready? Pictures no fun.....
Show-house ready? Pictures no fun.....
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
Wah drool man! Laminated windows! Can do without grilles liao. Should be rather expensive, right?
Wah drool man! Laminated windows! Can do without grilles liao. Should be rather expensive, right?
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
Laminated windows cannot break meh ?
Laminated windows cannot break meh ?
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
Not as easy as normal ones, from what I understand. If your place is heavily fortified and guards are like Gurkhas then this is ideal.
Not as easy as normal ones, from what I understand. If your place is heavily fortified and guards are like Gurkhas then this is ideal.
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
then we shd all get laminated windows as grilles are ugly !
then we shd all get laminated windows as grilles are ugly !
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
But it is super exp, my whole house if do laminate glass is quoted almost RM40000 whereas if do normal aluminium grilles is RM11000. That this new project comes with laminated glass is already quite premium.
But it is super exp, my whole house if do laminate glass is quoted almost RM40000 whereas if do normal aluminium grilles is RM11000. That this new project comes with laminated glass is already quite premium.
absolutely right. i bought a bukit indah house cheap at 600k.bank valued mkt price. developer selling more than 700k. 6 months later my application rejected cos they valued it at 400k. what a joke. all the agent fees n lawyers fee wasted not to mention the time. all the owners know their property price is high but cannot sell except to msian.
the government will robbed you on motorbike, they will snatch your bags n even blow u up. and i thought only the criminals doing it.
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
I heard from the salesperson there that the showhouse will be ready next year..
I heard from the salesperson there that the showhouse will be ready next year..
It is not difficult to clean, took only half an hour to vacuum upstairs and another half an hour to vacuum downstairs..windows no need to clean..
I have been saying since day one in this forum that HDB is the best! Those who can buy affordable HDB should be grateful, including SPRs.
Can't help it. I can spend at most half a day in JB due to work. One hour to vacuum, another hour to mop, then another hour to wipe dust, lizard shit and spider webs, another hour to rest, bath, go car wash... then time to go back to Singapore. No fun.
Re: Lenang Heights by Sunway ( next to Tmn Molek/Ponderosa )
I thought phase 1 or 2 is already launched 2Q this year. My friend bought a unit there in Jun around $3.5 mil RM if I remember correctly. There is a clubhouse.
I thought phase 1 or 2 is already launched 2Q this year. My friend bought a unit there in Jun around $3.5 mil RM if I remember correctly. There is a clubhouse.
Actually you can get part time maids to help clean. Cost about RM80 from 8am to 5pm to clean.
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