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Corporate-sta
NATIONAL business private TOP STORIES / 4
programmes
PARTNERSHIP focus on the s
Spotlight on CROSS-BORDER PROPERTY LIONS not the corpo
energy management Singapore real-estate investors COMPANIES &
SPECIAL REPORT / 15-18 shine on global stage REAL ESTATE / 20 MARKETS / 8

Headline Humility, hard work pay off for Keppel Singmarine MD

Publication
Date
Section
THE BUSINESS TIMES DAILY
2017-10-05
BTS
DIGEST Unsustainable to increasing
Page Number
Article Size
Journalist
AVE
1&5
516.165 cm2

$ 2018
China President Xi Jinping is
expected to consolidate
stephluo@sph.com.sg @StephLuoBT (By Stephanie Luo)
power at the 19th Party
Congress but there is unlikely
to be a major shift in policies.
TOP STORIES / 2
Prices of passenger car
COEs slip even as the goods
vehicle premium continue its
steady ascent.
TOP STORIES / 4
Keppel Singmarine chief
Abu Bakar Mohd Nor wins
the Berita Harian Achiever of
the Year 2017 award.
TOP STORIES / 5
Shares of SIA Engineering
plunges 9 per cent to a
at higher prices, warns Red
Runaway demand for private homes unlikely, given cooling measures, slow population growth and buy
By Kalpana Rashiwala
kalpana@sph.com.sg
@KalpanaBT
Singapore
THE head of the developers body on
Wednesday cautioned that the trend
of land-hungry developers increas-
ingly buying private residential sites
at higher prices has many significant
associated risks.
Notably, it is not sustainable to
continue at this rate. With property
measures in place, slow growth in
Singapores population and man-
power curbs, we do not see runaway
demand in sales transaction volume
and property prices in the next few
years, said Augustine Tan, president
of the Real Estate Developers Associ-
TOP STORIES | 5
ation of Singapore (Redas).
Interestingly, Mr Tan made this
point on the same day that City Devel-
opments announced that it and Hong
Realty had been awarded the Amber
Park collective sale site at what is
seen as an eye-popping S$1,515 per
square foot per plot ratio (psf ppr).

Humility, hard work

more than six-year low,
prompting an SGX query.
COMPANIES & MARKETS / 6
This is a record price for freehold res-
idential land in the Katong/East Coast
area.

pay off for Keppel

In his speech at the Redas Mid-Au-
Bank regulators see a tumn Festival Lunch, Mr Tan noted
that private home buyers are price
glimmer of hope in the form
sensitive. With slow economic and
of Randal Quarles, whos

Singmarine MD
changed from the previous quarter. and monetary
jobs growth, many, including dis-
awaiting confirmation as the The URA will release the full Q3 coupled with d
US Feds top bank overseer.
placed sellers from en-bloc sales,
may downgrade to public housing,
private residential property market Developers ... know challenges to the
BANKING & FINANCE / 21 he said.
data later
third-quarter
this
flash
month.
estimate
that time is on their
Its
on
ated unemploym
concerns.
Ubers fractured board
Hence, if the prevailing bullish
appetite for residential land persists Monday showed that its private homeside. Prices are Knight Frank
Abu Bakar Mohd Nor wins Berita
declare peace, unanimously
Harian Achiever
while demand (for end units) is not
of the Year
price2017
index award
rose 0.5 per cent over turning; by delaying
the ent Tan Tiong C
previous quarter, the first increase presidents spee
passing measures to shore up sustained, it will hasten the com- their launches by a sombre reminde
By Stephanie
corporate Luo
governance and pounding effects of increasing sup- after thedownturns
times, index shedare 11.6 per cent
necessary for
stephluo@sph.com.sg
bringing in investor SoftBank. ply and high vacancy. Interest rates over 15 quarters.
reflecting and reviewing few months, they
whether not that it need
@StephLuoBT
TECHNOLOGY / 23
will continue rising, he added.
the
Mr Tan
you're
supply
wentthe
doing on to
pipeline is
highlight
right thing. that
set to
stand to capitalise on
While
grow
as potential pr
that, although p
you're managing your present chal-
Singapore As developers, we value stability
in the property market, he said. from the you
lenges, salesalsoofneed
residential
to have an
rising prices ... the
sites eye reached an inflex
COMING from humble beginnings
Fewer Americans
and starting work
plan to
at theasage of four, Mr Tan also said that despite the re- through
on the private-sector
future, he said.channels such market is under- downside risks a
shop on Black Friday, cerns.
Abu Bakar Mohd
consumers grow Nor knows how im- cent upturn in the Urban Redevelop-
accustomed ment Authoritys (URA) private home
as
the
collective
Mr Abu
Government
sponsorship
sales,
Bakaras
toLand
attend
well
managed
Sales
as through
the(GLS)
to supplied, especially in
Pro-
Singapore
get
Industry play
portant hard work and remembering
to deep discounts year-round.
ones roots are. price index, private housing rents gramme.
Management University and gradu- the suburbs. Hong Realtys b
anagement services are a nice, steady fee generator. CONSUMER / 24 are still falling and vacancies remain In conclusion,
ated with a Master Mrof Tan said: While
Business Admin- new project on
The managing director (Gas & Spe-
high even as new completions are the residential
istration in property
June 2013 market
afterap- the A seasoned analyst Park site at aro
cialised Vessels), Keppel Offshore & higher than what
Britains economy remains adding to current inventory at a time pears former to beCEOonofthe mend
Keppel and Choo
Corp, de-
Marine, and MD of Keppel Singmar- velopers
Chiau are
Beng, aggressively
wrote a letter replenish-
to the uni- site would comm
stuck in low gear but price when MNCs are either downsizing or

h products ine, who started his career with a dip- recruiting headcount at a cautionary ing
pressures
loma from
according
areSingapore
to
rising again,
surveys.
Polytechnic, pace.
was presented with the Berita Harian Based on URAs data, the vacancy this
versity
their
him as all
business,
to
landconvince
bank
thecandidates
to them
sustain to accept
their
were required
length and amplitude of
Frasers Centrep
99-year leaseh

utives
to new
havecycle
a degree to participate in the
is uncertain. ences, which wil
GOVERNMENT
Achiever of the & ECONOMY
Year 2017/ award
26 on rate for private homes stood at 8.1 programme. views, at close to
The downside risks of geopolitical
Wednesday. per cent as at end-Q2 2017, un- uncertainty, Mr Abuglobal Bakareconomic
is a firmactivity
believer age. Clearly de
The annual awards ceremony, that it is essential to upgrade ones
which is into its 19th year and organ- skills. You need a certain skill ... to
to achieve an op- that recommends alternative struc- ised by media group Singapore Press be able to perform better. At the end

CDL, Hong Leong unit bag Amber Park with aggressi

ficulty in monet- tures for users to explore and con-
Holdings Malay daily, Berita Harian, Successful and unsuccessful of the day, it's not about qualifica-
g the benefits and sider.
honours Malay and Muslim individu- people do not vary greatly in their tions, it's about you performing as
roposed by differ- Said Goh Seng Ti, Isuzu Motors
als for their achievements in their abilities. They vary in their desires these people are depending on you,
to keep up with Asia general manager (treasury & ac-
chosen field of work that includes to reach their potential, says he said.
y, tax and market counting): What takes a week today
h effort to work can be done in two minutes with Analyst says purchase price
education, business, and sports. This
Mr Abu is the
Bakar fourth en bloc attempt On Wednesday, seven other
by the property, which was originally
Top
awards
5 were
en handed
bloc sales out. The recipi-
En bloc deals this year
n a new cash man- Treasury Prism. This is the most in- of S$1,515 psf ppr would
Previous recipients of the award
include President Halimah built by CDL.such Its last collective
Board ofsale ent of the Young
Price Achiever
Tenure Award When this Property
and difficulty in novative solution for corporate treas- mean selling prices of Yacob, ous boards as the Trust- Project
year is Nur(S$m)Yusrina Yaakob, the first
Land Price
and complex solu- ury Ive seen this year. who was conferred in her capacity astender ees of inthe
June 2015 had
Singapore closedofwith
Institute Tech- area (sf) (S$m)
S$2,600 to S$2,700 psf Malay woman
Said Kerry Logistics group treas- assistant secretary-general, NTUC, innonology bids. and the board of PUB. He was Farrer 1,339 from LH99Singapore
June 07 to Amber Park 213,670 907
will help CFOs ex- urer: Managing money across the 2001, and former CEO of Cathay Or- also The appointed
sale price president
of S$906.7 million reach the summit of Mount Everest in
Court
of the Asso- Jervois Garden 34,038 72
and liquidity man- Asia region is not easy due to regula- By ganisation
Lee Meixian May this year.
Holdings Suhaimi Rafdireflects ciation a land rate of about
of Singapore Marine Indus- Tampines
S$1,515 970 LH99 Aug 17 Sun Rosier 146,046 271
s and analyse the tions this platform makes it easy to leemx@sph.com.sg
(2012). pertries
square footrecently.
Council (psf) per plot ratio, CourtIn conjunction with Berita
and costs. The see whats possible, with regulatory @LeeMeixianBT Harians 60th Nanak Mansions 109,629 201
At a media conference on Wednes- based on the allowable gross
On what distinguishes successful plot ra- Amber 907anniversary
FH Oct this
17year,
orm takes into ac- insights, through a drag and drop in- Singapore tio of 2.8. Owners can expect to re- two Lifetime Achiever Award recipi- Elite Building
Park 14,274 52
day, Mr Abu Bakar spoke of his people from those who fail, he said:
y and tax environ- terface. Its something not readily AMBER PARK, a 200-unit develop- ceive gross sale proceeds of between ents were honoured.
Leedon 835 TheyApril
FH Singa- Six plots at Seraya Crescent
are 07 24,068 26
younger days when he lost his Successful and unsuccessful people
s where the com- available in other treasury plat- ment at Katong, has been sold via a
S$4.3 million and S$8.3 million.
pore football legend Fandi Ahmad 208 Yio Chu Kang
Heights 14,136 8
mother at a young age and had to do not vary greatly in their abilities.
nd offers immedi- forms. collective sale to and performer
Eunosville 766 andLH99composerMay Ramli Tampines Court
17 702,155 970
pick up plates as apart
joint venture
of his work at TheyA CDLvary spokesman explained the
in their desires to reach Sarip.
Over at OCBC, it said SME Serangoon Ville 296,910 499
between a Cityold.
four years Developments
His father was (CDL)em-developers optimism: After several
their potential.
customers, if they use an In addition, four individuals Is-
Source: JLL
subsidiary and Hong Realty,
ployed as a personal driver then. the years With
of subdued
27 yearsmarket conditions
of experience in the mail Gafoor (CEO, PropNex Realty), Citimac 139,789 430
iPhone will be able to transfer
a week today funds and make account bal- private real estate arm of Hong Leong and macro-economic
Despite the challenging times he offshore and marine industry, Mr beMohamedheadwinds, the bullish, at an 18 per
Abdul cent premium
Jaleel (CEO, MES The Albracca 23,400 69
Group.
faced, he rose through the ranks dur- Singapore property market is
Abu Bakar acknowledged that the in- over seeing Eunosville 376,713 766
in ance enquiries using Siri,
Apples voice controlled per- The his
ing S$906.7
time at million
Keppel price tag improved
Shipyard dustry is sentiment
cyclicaland andincreased
the oil in- lion.
its reserve
Group), Jummaidaprice of S$768 mil-
Rusdon (CEO,
Busy Bees Asia), and Suhaimi Salleh Goh & Goh Building 30,874 102
s with sonal assistant. The Siri funds makes
whereit Singapores
he began his largest
career freehold
as an as-activity.
dustryThe is anprivate
area toresidential
keep an eye pro-on. (CEO, SSA Consulting
OCBC Investment Research senior Group) Rio Casa 396,231 575
ury Prism. transfer, to be available from collective
sistant sale
Oct 9, are only between OCBC knocking
safetybyofficer
Leedon
dollar value
in 1990.to-date, perty This
price index
is myfor Q3 2017
fourth showed(in clinched the Business Achiever One Tree Hill Gardens
downturn investment analyst Eli Lee said: 39,063 65
Today, Mr AbuHeights
Bakar sitsoffonthe
vari-itsthe
firstindustry)
reboundthat in 15I'vequarters
faced. Some-(or Award.
CDLs purchase was aggressive, but 5,012
tors Asia general manager Bank account holders. spot. The latter had fetched S$835 four years). This could signal a bud-
There is no limit to amount million from developer GuocoLand in ding recovery which CDL is well made sense, in our view. Given reco- Source: M
for internal fund transfers us- 2007. The Amber Park deal also poised to benefit from. vering home prices and a competitive
ing Singapore
Copyright 2016 voice command, said a marks
Press Holdings Limited. Permission required for reproduction. landbanking environment, choice
the 15th successful collective On the site specifically, the spokes- purchase price would translate to a with a gross plo
bank spokeswoman.
insights to help sale this year including industrial man added: It is located in the estab- sites dont come easy. breakeven price of about S$2,200 psf means that it can
Do note that funds transfer using He added that this was one of the
the implications and mixed-used developments lished and well sought-after Katong and selling prices of S$2,600 to able gross floor a