DAILY MARKET UPDATES 8th November 2008

Sands gives reassurance on Marina Bay IR Mr Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands, personally reaffirmed their commitment to the success of Marina Bay Sands. About half of the $5.4 billion credit facility for Marina Bay Sands has already been drawn upon. Singapore's banks, OCBC, UOB and DBS, which have significant exposure as lead arrangers for the project, remain optimistic.- The Straits Times, A1 (See also, The Business Times, P3 – “Casino boss turns tables his way”) Ubin, the clean-energy island Energy Market Authority (EMA) yesterday announced plans to embark on a project to turn Pulau Ubin into a model 'green island' powered entirely by clean and renewable energy. The study, slated for completion in May, will look at how much energy is needed by residents on the 10 sq km island, and the most cost-effective combination of renewable energy technologies that can be used. The Ubin project is the latest in a series of programmes to transform Singapore into a global centre for clean R&D.-The Straits Times, A8 (See also, The Business Times, P5 - “Ubin to host testing site for 'green' energy”) Iras told to relook property tax rules The Court has ruled that sinking fund contributions should form part of the calculation of how much tax is due on a property - but only if the fund has been used that year for repairs or maintenance on the estate. The change, if and when implemented, could affect unit-owners under the 3,000-odd management corporations that run strata-titled properties, including condominiums. For now, sinking fund contributions have been factored every year into the overall value of a property. -The Straits Times, B10 Soitec opens $700m wafer plant Soitec opened a $700 million plant in Pasir Ris yesterday, the 2.7ha facility is Soitec's first outside France and will serve as the company's hub for Asia. It will also be Singapore's first plant producing silicon-on-insulator (SOI) - a new silicon generation that boosts chip speed by 30 per cent while slashing energy consumption by half. Its output hit $36 billion last year - accounting for 52 per cent of Singapore's total electronics output. -The Straits Times, C27 Bourbon opens S'pore marine training centre Marine service provider Bourbon Offshore Asia yesterday launched its first training centre in Singapore amid plans to expand its footprint in Asia. Estimated to be YEN $3 million (S$5.7 million), it has a high-tech simulator designed to give seamen practical training in anchor-handling operations. The Singapore-based firm, part of Bourbon Offshore Division headquartered in France, plans to increase its headcount here from 400 to 1,600 over the next two years. It plans to invest YEN $1.7 billion over the next five years to expand its fleet of offshore vessels and other services.
- The Straits Times, C28
DBS chops 900 jobs DBS Group will slash 900 jobs or 6 per cent of its work force by the end of the month. 'Cuts will be 'across the board' and will include junior and senior staff in all parts of the group - 'across all business units and functions and at all levels of the organisation' - Chief executive Richard Stanley.
- The Business Times, P1(See also, The Straits Times, A1 – “Dbs to cut 900 jobs”
SMRT unveils $12m train information system SMRT Corp will spend $12 million over the next two years fitting a dynamic route map and information system on its trains so travellers can better track their journey. The STARiS system is similar to others in HK and Japan but has an additional feature - it tells passengers which side of the train to exit from. The new system comprises dynamic route maps and display screens that show multi-language transcripts of audio announcements, so passengers can receive the information visually. Each train carriage will be fitted with eight dynamic route maps above the doors, while four ceiling-mounted display screens will be positioned along the centre of each carriage.
-The Business Times, P17
Mulberry Tree- 167 Moulmein Road- 32 exclusive freehold retro-style boutique apartments- Approximately 200m walk from Novena MRT- Minutes away from renowned schools, MRT, major expressways & shopping centres- An array of recreational facilities including swimming pool, jacuzzi, gymnasium & BBQ area- Freehold- Foreigners eligible- Developer: Bravo Building Construction Pte Ltd- Sole Marketing Agent: Huttons- Zero instalment till TOP- Price from $668k- Expected date of TOP: June 2012- Expected date of legal completion: June 2014Ad, The Straits Times, A12
Teresa Villas- No 1 & 3 Bukit Teresa Road- Prices from $450 psf- No installment till TOP- Freehold premier cluster bungalows- 8 Luxurious bungalows from 5565 sq ft with private pool or Jacuzzi on a hilltop- Located at the centre of Sentosa & Marina Bay Sands Integrated Resorts- In the vicinity of Orchard Road, Vivocity, Financial Hub, popular schools & eateries- Convenient access anywhere with AYE, ECP, CTE & the Harbourfront MRT station nearby- Close to Mount Faber, Southern Ridges & famous clubs for leisurely pursuits- Bejeweled in designer fittings & tasteful furnishings by Duravit, Damixa & Bosch- Developer: Royal Oak Development Pte Ltd- Expected date of TOP: 30 December 2011- Expected date of legal completion: 30 December 2014- Marketing Agent: HuttonsAd, The Straits Times, A26

The Lucent- Located at Lorong N Telok Kurau- Freehold 1 to 4 bedroom apartments & penthouses with private pool available- 5-seater family whirlpool on your balcony- Steam bath in your master bedroom- Private swimming pool & sundeck on your rooftop/ porch- Regally-appointed interiors with unparalleled ceiling height of up to 3.3m- Elegant communal recreational area with pools, gym, BBQ area & playground- Idyllic environment near East Coast Park & Siglap Centre- Within 1km from well-known schools (Tao Nan Sch, CHIJ & Victoria JC)- Developer: Roxy Land Pte Ltd- Marketing Agent: HSR- Expected date of TOP: 31 December 2012- Expected date of legal completion: 31 December 2015Ad, The Straits Times, B12

D’chateau @ Shelford- 25 Shelford Road
- Deferred payment scheme: 5% upon booking, 15% within 8 weeks. No further payment till TOP- A lifestyle living in prominent Bukit Timah enclave- 2 blocks of luxurious 5-storey apartments comprising 31 lavishly designed units including penthouses with roof gardens- Exquisitely created 2, 3 and 3+1 apartments & penthouses- A collection of lifestyle facilities from a lap pool, gymnasium, to Jacuzzi & BBQ area- Just minutes away from Orchard Road, exciting shopping avenues & recreational destinations- Developer: East Coast Properties Pte Ltd- Sole Marketing Agent: DTZ- Expected date of TOP: 30 June 2012- Expected date of legal completion: 30 June 2015Ad, The Straits Times, C5
Palm Galleria- An intimate sanctuary nestled at Telok Kurau- A freehold development of 40 units- Foreigners eligible, 5% downpayment- Exclusive 3-bedroom units from $890k ($723 psf)- Interest absorption Scheme available- Within 1 km of Tao Nan School- Developer: World Class Land Pte Ltd- Marketing Agent: L2 Group- Expected date of TOP: 31 Oct 2010- Expected date of legal completion: 31 October 2012Ad, The Straits Times, C9
City View @ Boon Keng- A public housing development with 714 units under HDB’s DBSS- Hot water provision in all bathrooms- Built-in kitchen cabinets with cooker hood & hob- Built-in wardrobes in all bedrooms- Air-conditioning system in living/dining area & all bedrooms- Proximity card access security system at ground floor lift lobbies
- Eligible applicants can enjoy CPF housing grants, no resale levy for 2nd time homebuyers, deferred payment scheme- Available units: 4-room from $532,000-$568,800, 3-room from $539,000-$671,100- Option fee of 5% of Purchase Price payable by Cash/Cheque upon booking- Developer: Hoi Hup Sunway Development Pte Ltd- Agent: HSR- Tenure: 99 years upon TOP- Expected date of TOP: 5th June 2011- Expected date of legal completion: 5th June 2014Ad, The Straits Times, C14
Watten Residences- 59 units Freehold Strata Bungalows, Semi-D, Terraces- Private lifts & pool access- Prime Bukit Timah Location near schools, Botanics & MRT- Location: 20 Watten Rise- 2 x 60m pool with Jacuzzi- Water recycling system- Solar heating- Gym, BBQ
- Developer: Simefield Pte Ltd - Expected date of TOP: 31 December 2012- Expected date of legal completion: 31 December 2015Ad, The Straits Times, C22
Natura Loft- DBSS project with 3 towering blocks of 40 storeys each, comprising 480 units of 4-room and 5-room luxurious public housing flats.- CPF housing grants, no resale levy for 2nd time homebuyers/
- Priority Schemes like Married Child Priority Scheme & 3rd Child Priority Scheme- For sale via ballot- Location: Bishan St 24- Developer: Qingjian Realty Pte Ltd- Agent: SLP International- Tenure: 99 years upon TOP- Expected date of TOP: 31 December 2011- Expected date of legal completion: 31 December 2014